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Javier E

Opinion | Belgium Shows What Europe Has Become - The New York Times - 0 views

www.nytimes.com/...belgium-election-europe.html

belgium EU crisis right-wing

shared by Javier E on 03 Jun 24 - No Cached
  • In Brussels, the seat of the European Union, rising crime, pollution and decaying infrastructure symbolize a continent in decline. With unusual clarity, Belgium shows what Europe has become in the 21st century: a continent subject to history rather than driving it.
  • For a long time, Belgian politicians and citizens hoped that European integration would release them from their own tribal squabbles. Who needed intricate federal coalitions if the behemoth in Brussels would soon take over? Except for the army and the national museums, all other levers of policy could comfortably be transferred,
  • The upward absorption has not come to pass. The European Union remains a halfway house between national government and continental superstate. There is no E.U. army or capacious fiscal apparatus. Consequently, Belgium has been put in an awkward position. Unable to collapse itself into Europe, it is stuck with a ramshackle federal state
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  • As the ideological glue that allows Belgians to cohabit has come unstuck, the traditional parties of government have found it difficult to retain public backing. Amid a wider fracturing of the vote, Flemish and Walloon voters are now lured by adventurers on right and left
  • Belgium serves as a stern reminder that there are few bulwarks against the trends that ail European nations. The country is no Italy or Netherlands, where the far right is already in government, and party democracy and its postwar prosperity survive only as faint memories.
  • Yet even with Belgium’s lower inequality rates, higher union membership and comparatively stronger party infrastructure, the march of the far right has also proved eerily unstoppable.
Javier E

Elon Musk's Latest Dust-Up: What Does 'Science' Even Mean? - WSJ - 0 views

www.wsj.com/...artup-meta-yann-lecun-a35e48f2

science progress scientific method musk

shared by Javier E on 03 Jun 24 - No Cached
  • Elon Musk is racing to a sci-fi future while the AI chief at Meta Platforms is arguing for one rooted in the traditional scientific approach.
  • Meta’s top AI scientist, Yann LeCun, criticized the rival company and Musk himself. 
  • Musk turned to a favorite rebuttal—a veiled suggestion that the executive, who is also a high-profile professor, wasn’t accomplishing much: “What ‘science’ have you done in the past 5 years?”
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  • “Over 80 technical papers published since January 2022,” LeCun responded. “What about you?”
  • To which Musk posted: “That’s nothing, you’re going soft. Try harder!
  • At stake are the hearts and minds of AI experts—academic and otherwise—needed to usher in the technology
  • “Join xAI,” LeCun wrote, “if you can stand a boss who:– claims that what you are working on will be solved next year (no pressure).– claims that what you are working on will kill everyone and must be stopped or paused (yay, vacation for 6 months!).– claims to want a ‘maximally rigorous pursuit of the truth’ but spews crazy-ass conspiracy theories on his own social platform.”
  • Some read Musk’s “science” dig as dismissing the role research has played for a generation of AI experts. For years, the Metas and Googles of the world have hired the top minds in AI from universities, indulging their desires to keep a foot in both worlds by allowing them to release their research publicly, while also trying to deploy products. 
  • For an academic such as LeCun, published research, whether peer-reviewed or not, allowed ideas to flourish and reputations to be built, which in turn helped build stars in the system.
  • LeCun has been at Meta since 2013 while serving as an NYU professor since 2003. His tweets suggest he subscribes to the philosophy that one’s work needs to be published—put through the rigors of being shown to be correct and reproducible—to really be considered science. 
  • “If you do research and don’t publish, it’s not Science,” he posted in a lengthy tweet Tuesday rebutting Musk. “If you never published your research but somehow developed it into a product, you might die rich,” he concluded. “But you’ll still be a bit bitter and largely forgotten.” 
  • After pushback, he later clarified in another post: “What I *AM* saying is that science progresses through the collision of ideas, verification, analysis, reproduction, and improvements. If you don’t publish your research *in some way* your research will likely have no impact.”
  • The spat inspired debate throughout the scientific community. “What is science?” Nature, a scientific journal, asked in a headline about the dust-up.
  • Others, such as Palmer Luckey, a former Facebook executive and founder of Anduril Industries, a defense startup, took issue with LeCun’s definition of science. “The extreme arrogance and elitism is what people have a problem with,” he tweeted.
  • For Musk, who prides himself on his physics-based viewpoint and likes to tout how he once aspired to work at a particle accelerator in pursuit of the universe’s big questions, LeCun’s definition of science might sound too ivory-tower. 
  • Musk has blamed universities for helping promote what he sees as overly liberal thinking and other symptoms of what he calls the Woke Mind Virus. 
  • Over the years, an appeal of working for Musk has been the impression that his companies move quickly, filled with engineers attracted to tackling hard problems and seeing their ideas put into practice.
  • “I’ve teamed up with Elon to see if we can actually apply these new technologies to really make a dent in our understanding of the universe,” Igor Babuschkin, an AI expert who worked at OpenAI and Google’s DeepMind, said last year as part of announcing xAI’s mission. 
  • The creation of xAI quickly sent ripples through the AI labor market, with one rival complaining it was hard to compete for potential candidates attracted to Musk and his reputation for creating value
  • that was before xAI’s latest round raised billions of dollars, putting its valuation at $24 billion, kicking off a new recruiting drive. 
  • It was already a seller’s market for AI talent, with estimates that there might be only a couple hundred people out there qualified to deal with certain pressing challenges in the industry and that top candidates can easily earn compensation packages worth $1 million or more
  • Since the launch, Musk has been quick to criticize competitors for what he perceived as liberal biases in rival AI chatbots. His pitch of xAI being the anti-woke bastion seems to have worked to attract some like-minded engineers.
  • As for Musk’s final response to LeCun’s defense of research, he posted a meme featuring Pepé Le Pew that read: “my honest reaction.”
Javier E

How Asian Groceries Like H Mart and Patel Brothers Are Reshaping America - The New York... - 0 views

www.nytimes.com/...an-grocery-stores-america.html

groceries food asian industry

shared by Javier E on 18 Jun 24 - No Cached
  • The H Mart of today is a $2 billion company with 96 stores and a namesake book (the best-selling memoir “Crying in H Mart,” by the musician Michelle Zauner). Last month, the chain purchased an entire shopping center in San Francisco for $37 million. Patel Brothers has 52 locations in 20 states, with six more stores planned in the next two years. 99 Ranch opened four new branches just last year, bringing its reach to 62 stores in 11 states. Weee!, an online Asian food store, is valued at $4.1 billion.
  • Asian grocery stores are no longer niche businesses: They are a cultural phenomenon.
  • Asian American grocers still represent less than one percent of the total U.S. grocery business,
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  • ate which products the big-box chains stock.
  • But these stores exercise an outsize impact, she said, as they di
  • more than any restaurant, cookbook or online video, Asian grocers are driving this shift.
  • April 2023 to April 2024, sales of items in the “Asian/ethnic aisle” in U.S. grocery stores grew nearly four times more than overall sales
  • Miso, ghee, turmeric, soy sauce — their journeys to becoming widely available pantry staples all began with an Asian grocer.
  • H Mart is attracting the clientele of the big grocers, too. Thirty percent of its shoppers today are non Asian, Mr. Kwon said, and he’s made changes to continue drawing them
  • placing more emphasis on in-store tastings, explaining how ingredients are used and posting signs in both Korean and English. Similarly, at 99 Ranch, the announcements ring out in Mandarin and English, and Western music has been added to the store playlists.
  • Swetal Patel, a partner at Patel Brothers, said that as the chain has expanded its audience — he estimates that 20 to 25 percent of shoppers are now non South Asian
  • “I find it fascinating that there are things on the shelf that I have no idea what they are,” said Jill Connors, an economic development director for the city of Dubuque, Iowa, who started shopping at Hornbill Asian Market earlier this year because she and her husband became vegan and wanted high-quality tofu at a reasonable price.
  • The sheer variety of foods to explore “brings more joy to the shopping and cooking process,”
Javier E

It's not just vibes. Americans' perception of the economy has completely changed. - ABC... - 0 views

abcnews.go.com/...story

perception economy consumer sentiment housing

shared by Javier E on 20 Jun 24 - No Cached
  • Applying the same pre-pandemic model to consumer sentiment during and after the pandemic, however, simply does not work. The indicators that correlated with people's feelings about the economy before 2020 no longer seem to matter in the same way
  • As with so many areas of American life, the pandemic has changed virtually everything about how people think about the economy and the issues that concern them
  • Prior to the pandemic, our model shows consumers felt better about the economy when the personal savings rate, a measure of how much money households are able to save rather than spend each month, was higher. This makes sense: People feel better when they have money in the bank and are able to save for important purchases like cars and houses.
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  • Before the pandemic, a number of variables were statistically significant indicators for consumer sentiment in our model; in particular, the most salient variables appear to be vehicle sales, gas prices, median household income, the federal funds effective rate, personal savings and household expenditures (excluding food and energy).
  • During the pandemic, the personal savings rate soared. In April 2020, the metric was nearly double its previous high, recorded in May 1975.
  • All this taken together meant Americans were flush with cash but had nowhere to spend it. So despite the fact that the savings rate went way up, consumers still weren't feeling positively about the economy — contrary to the relationship between these two variables we saw in the decades before the pandemic.
  • Fast forward to 2024, and the personal savings rate has dropped to one of its lowest levels ever (the only time the savings rate was lower was in the years surrounding the Great Recession)
  • during and after the pandemic, Americans saw some of the highest rates of inflation the country has had in decades, and in a very short period of time. These sudden spikes naturally shocked many people who had been blissfully enjoying slow, steady price growth their entire adult lives. And it has taken a while for that shock to wear off, even as inflation has cre
  • the numbers align with our intuitive sense of how consumers process suddenly having their grocery store bill jump, as well as the findings from our model. In simple terms: Even if inflation is getting better, Americans aren't done being ticked off that it was bad to begin with.
  • surprisingly, our pre-pandemic model didn't find a notable relationship between housing prices and consumer sentiment
  • However, in our post-pandemic data, when we examined how correlated consumer sentiment was with each indicator we considered, consumer sentiment and median housing prices had the strongest correlation of all****** (a negative one, meaning higher prices were associated with lower consumer sentiment)
  • during the pandemic, low interest rates, high savings rates and changes in working patterns — namely, many workers' newfound ability to work from home — helped overheat the homebuying market, and buyers ran headlong into an enduring supply shortage. There simply weren't enough houses to buy, which drove up the costs of the ones that were for sale.
  • That's true even if a family has been able to save enough for a down payment, already a difficult task when rents remain high as well. Fewer people are able to cover their current housing costs while saving enough to make a down payment.
  • Low-income households are still the most likely to be burdened with high rents, but they're not the only ones affected anymore. High rents have also begun to affect those at middle-income levels as well.
  • In short, there was already a housing affordability crisis before the pandemic. Now it's worse, locking a wider array of people, at higher and higher income levels, out of the home-buying market
  • People who are renting but want to buy are stuck. People who live in starter homes and want to move to bigger homes are stuck. The conditions have frustrated a fundamental element of the American dream
  • In our pre-pandemic model, total vehicle sales had a strong positive relationship with consumer sentiment: If people were buying cars, you could pretty reasonably bet that they felt good about the economy. This feels intuitive — who buys a car if they think the economy
  • Cox Automotive also tracks vehicle affordability by calculating the estimated number of weeks' worth of median income needed to purchase the average new vehicle, and while that number has improved over the last two years, it remains high compared to pre-pandemic levels. In April, the most recent month with data, it took 37.7 weeks of median income to purchase a car, compared with fewer than 35 weeks at the end of 2019.
  • "Right before the pandemic, the typical average transaction price was around $38,000 for a new car. By 2023, it was $48,000," Schirmer said. This could all be contributing to the break in the relationship between car sales and sentiment, he noted. Basically, people might be buying cars, but they aren't necessarily happy about it.
  • Inspired by our model of economic indicators and sentiment from 1987 to 2019, we tried to train a similar linear regression model on the same data from 2021 to 2024 to more directly compare how things changed after the pandemic. While we were able to get a pretty good fit for this post-pandemic model,******* something interesting happened: Not a single variable showed up as a statistically significant predictor of consumer sentiment.
  • This suggests there's something much more complicated going on behind the scenes: Interactions between these variables are probably driving the prediction, and there's too much noise in this small post-pandemic data set for the model to disentangle i
  • Changes in the kinds of purchases we've discussed — homes, cars and everyday items like groceries — have fundamentally shifted the way Americans view how affordable their lives are and how they measure their quality of life.
  • Even though some indicators may be improving, Americans are simply weighing the factors differently than they used to, and that gives folks more than enough reason to have the economic blues.
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