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Justin Medved

The Answer Factory: Demand Media and the Fast, Disposable, and Profitable as Hell Media... - 24 views

  • Pieces are not dreamed up by trained editors nor commissioned based on submitted questions. Instead they are assigned by an algorithm, which mines nearly a terabyte of search data, Internet traffic patterns, and keyword rates to determine what users want to know and how much advertisers will pay to appear next to the answers.
  • To appreciate the impact Demand is poised to have on the Web, imagine a classroom where one kid raises his hand after every question and screams out the answer. He may not be smart or even right, but he makes it difficult to hear anybody else.
  • But what Demand has realized is that the Internet gets only half of the simplest economic formula right: It has the supply part down but ignores demand. Give a million monkeys a million WordPress accounts and you still might never get a seven-point tutorial on how to keep wasps away from a swimming pool. Yet that’s what people want to know.
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  • That’s not to say there isn’t any room for humans in Demand’s process. They just aren’t worth very much. First, a crowdsourced team of freelance “title proofers” turn the algorithm’s often awkward or nonsensical phrases into something people will understand: “How to make a church-pew breakfast nook,” for example, becomes “How to make a breakfast nook out of a church pew.” Approved headlines get fed into a password-protected section of Demand’s Web site called Demand Studios, where any Demand freelancer can see what jobs are available. It’s the online equivalent of day laborers waiting in front of Home Depot. Writers can typically select 10 articles at a time; videographers can hoard 40. Nearly every freelancer scrambles to load their assignment queue with titles they can produce quickly and with the least amount of effort — because pay for individual stories is so lousy, only a high-speed, high-volume approach will work. The average writer earns $15 per article for pieces that top out at a few hundred words, and the average filmmaker about $20 per clip, paid weekly via PayPal. Demand also offers revenue sharing on some articles, though it can take months to reach even $15 in such payments. Other freelancers sign up for the chance to copyedit ($2.50 an article), fact-check ($1 an article), approve the quality of a film (25 to 50 cents a video), transcribe ($1 to $2 per video), or offer up their expertise to be quoted or filmed (free). Title proofers get 8 cents a headline. Coming soon: photographers and photo editors. So far, the company has paid out more than $17 million to Demand Studios workers; if the enterprise reaches Rosenblatt’s goal of producing 1 million pieces of content a month, the payouts could easily hit $200 million a year, less than a third of what The New York Times shells out in wages and benefits to produce its roughly 5,000 articles a month.
  • But once it was automated, every algorithm-generated piece of content produced 4.9 times the revenue of the human-created ideas. So Rosenblatt got rid of the editors. Suddenly, profit on each piece was 20 to 25 times what it had been. It turned out that gut instinct and experience were less effective at predicting what readers and viewers wanted — and worse for the company — than a formula.
  • Here is the thing that Rosenblatt has since discovered: Online content is not worth very much. This may be a truism, but Rosenblatt has the hard, mathematical proof. It’s right there in black and white, in the Demand Media database — the lifetime value of every story, algorithmically derived, and very, very small. Most media companies are trying hard to increase those numbers, to boost the value of their online content until it matches the amount of money it costs to produce. But Rosenblatt thinks they have it exactly backward. Instead of trying to raise the market value of online content to match the cost of producing it — perhaps an impossible proposition — the secret is to cut costs until they match the market value.
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    This is facinating!!!
Don Doehla

The Not-So-Hidden Cause Behind the A.D.H.D. Epidemic - NYTimes.com - 58 views

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    Between the fall of 2011 and the spring of 2012, people across the United States suddenly found themselves unable to get their hands on A.D.H.D. medication. Low-dose generics were particularly in short supply. There were several factors contributing to the shortage, but the main cause was that supply was suddenly being outpaced by demand.
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    Between the fall of 2011 and the spring of 2012, people across the United States suddenly found themselves unable to get their hands on A.D.H.D. medication. Low-dose generics were particularly in short supply. There were several factors contributing to the shortage, but the main cause was that supply was suddenly being outpaced by demand.
Glen Muir

BBC News - How Chinese babies and Mid-East pizza tip US markets - 17 views

  • his year in the US, milk futures leapt 26% and butter prices 62%
  • As a result, there was usually an oversupply of milk products on the market, Levitt says.
  • US and European governments stored excess dairy products
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  • nd dairy regulation decreased, driving a new incentive and ability to trade with other nations.
  • s a result, the dairy market tends now toward undersupply.
  • But from December 2013 to February 2014, Chinese demand grew to 20-25% of all global dairy imports, with much of the supply coming from the US and New Zealand.
  • New Zealand is the world's largest dairy exporter, accounting for nearly one-third of the global dairy trade.
  • Many of the nation's cows graze in fields, and a big drought in 2013 caused national milk production to plummet nearly 30%.
  • The US started exporting more dairy, capturing more international market share but pushing up domestic prices.
  • It's not all bad news for New Zealand, though. Traditionally, when the price of dairy goes up, farmers expand operations and produce more milk, thus lowering prices down the line.
  • The increase in supply could eventually lead to cheaper prices in the US, but not for several months.
  • US franchises including KFC, Ihop, Subway, The Cheesecake Factory, Jamba Juice and Papa John's Pizza have all staked claims in the Middle East, with more chains looking to follow.
  • A young, newly urbanised population in the Middle East is demanding more dairy imports.
  • That removed an estimated $6.6bn (£4bn) in annual dairy trade from the global market. In 2013, the EU alone exported $3bn of dairy to Russia, of which cheese accounted for more than one-third.
  • In response, the European Commission has announced it will provide financial support to the dairy industry, subsidising private storage of cheese, skimmed milk powder and butter until they can be sold at a later date.
  • But it will take a little while to see those changes reflected in American supermarkets.
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    5 factors that affect global market price
Benjamin Light

The Costs of Overemphasizing Achievement - 83 views

  • First, students tend to lose interest in whatever they’re learning. As motivation to get good grades goes up, motivation to explore ideas tends to go down. Second, students try to avoid challenging tasks whenever possible. More difficult assignments, after all, would be seen as an impediment to getting a top grade. Finally, the quality of students’ thinking is less impressive. One study after another shows that creativity and even long-term recall of facts are adversely affected by the use of traditional grades.
    • anonymous
       
      SO true!
    • anonymous
       
      Very true; especially the "avoiding challenging tasks" part.
  • Unhappily, assessment is sometimes driven by entirely different objectives--for example, to motivate students (with grades used as carrots and sticks to coerce them into working harder) or to sort students (the point being not to help everyone learn but to figure out who is better than whom)
  • Standardized tests often have the additional disadvantages of being (a) produced and scored far away from the classroom, (b) multiple choice in design (so students can’t generate answers or explain their thinking), (c) timed (so speed matters more than thoughtfulness) and (d) administered on a one-shot, high-anxiety basis.
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  • The test designers will probably toss out an item that most students manage to answer correctly.
  • the evidence suggests that five disturbing consequences are likely to accompany an obsession with standards and achievement:
  • 1. Students come to regard learning as a chore.
  • intrinsic motivation and extrinsic motivation tend to be inversely related: The more people are rewarded for doing something, the more they tend to lose interest in whatever they had to do to get the reward.
  • 2. Students try to avoid challenging tasks.
  • they’re just being rational. They have adapted to an environment where results, not intellectual exploration, are what count. When school systems use traditional grading systems--or, worse, when they add honor rolls and other incentives to enhance the significance of grades--they are unwittingly discouraging students from stretching themselves to see what they’re capable of doing.
  • 3. Students tend to think less deeply.
  • 4. Students may fall apart when they fail.
  • 5. Students value ability more than effort
    • anonymous
       
      This is the reinforcement of a "fixed mindset" (vs. (growth mindset) as described by Carol Dweck.
  • They seem to be fine as long as they are succeeding, but as soon as they hit a bump they may regard themselves as failures and act as though they’re helpless to do anything about it.
  • When the point isn’t to figure things out but to prove how good you are, it’s often hard to cope with being less than good.
  • It may be the systemic demand for high achievement that led him to become debilitated when he failed, even if the failure is only relative.
  • But even when better forms of assessment are used, perceptive observers realize that a student’s score is less important than why she thinks she got that score.
  • just smart
  • luck:
  • tried hard
  • task difficulty
  • It bodes well for the future
  • the punch line: When students are led to focus on how well they are performing in school, they tend to explain their performance not by how hard they tried but by how smart they are.
  • In their study of academically advanced students, for example, the more that teachers emphasized getting good grades, avoiding mistakes and keeping up with everyone else, the more the students tended to attribute poor performance to factors they thought were outside their control, such as a lack of ability.
  • When students are made to think constantly about how well they are doing, they are apt to explain the outcome in terms of who they are rather than how hard they tried.
  • And if children are encouraged to think of themselves as "smart" when they succeed, doing poorly on a subsequent task will bring down their achievement even though it doesn’t have that effect on other kids.
  • The upshot of all this is that beliefs about intelligence and about the causes of one’s own success and failure matter a lot. They often make more of a difference than how confident students are or what they’re truly capable of doing or how they did on last week’s exam. If, like the cheerleaders for tougher standards, we look only at the bottom line, only at the test scores and grades, we’ll end up overlooking the ways that students make sense of those results.
  • the problem with tests is not limited to their content.
  • if too big a deal is made about how students did, thus leading them (and their teachers) to think less about learning and more about test outcomes.
  • As Martin Maehr and Carol Midgley at the University of Michigan have concluded, "An overemphasis on assessment can actually undermine the pursuit of excellence."
  • Only now and then does it make sense for the teacher to help them attend to how successful they’ve been and how they can improve. On those occasions, the assessment can and should be done without the use of traditional grades and standardized tests. But most of the time, students should be immersed in learning.
  • the findings of the Colorado experiment make perfect sense: The more teachers are thinking about test results and "raising the bar," the less well the students actually perform--to say nothing of how their enthusiasm for learning is apt to wane.
  • The underlying problem concerns a fundamental distinction that has been at the center of some work in educational psychology for a couple of decades now. It is the difference between focusing on how well you’re doing something and focusing on what you’re doing.
  • The two orientations aren’t mutually exclusive, of course, but in practice they feel different and lead to different behaviors.
  • But when we get carried away with results, we wind up, paradoxically, with results that are less than ideal.
  • Unfortunately, common sense is in short supply today because assessment has come to dominate the whole educational process. Worse, the purposes and design of the most common forms of assessment--both within classrooms and across schools--often lead to disastrous consequences.
  • grades, which by their very nature undermine learning. The proper occasion for outrage is not that too many students are getting A’s, but that too many students have been led to believe that getting A’s is the point of going to school.
  • research indicates that the use of traditional letter or number grades is reliably associated with three consequences.
  • Iowa and Comprehensive Tests of Basic Skills,
    • Benjamin Light
       
      I wonder how the MAP test is set?
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    The message of Daniel Pinks book "Drive" applies here. Paying someone more, i.e. good grades, does not make them better thinkers, problems solvers, or general more motivated in what they are doing. thanks for sharing.
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    Excellent summary!
Mr Agraz

RTL Today - Housing shortage in Luxembourg - 1 views

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    Lux housing shortage
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