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Javier E

Were Democrats Actually Listening to What Clinton Said? - Clive Crook - The Atlantic - 1 views

  • reporters at Bloomberg examined Clinton's arresting claim about employment growth under Republican and Democratic administrations--since 1961, 24 million jobs added under Republican presidents, 42 million under Democrats--and found it to be true.
  • it's obvious that performance follows policy with a lag. You wouldn't think Democrats would need reminding of this. As they rightly point out, it's ridiculous to blame Obama for the collapsing economy he inherited. If you're going to make even a semi-serious attempt to work out whether Democratic or Republican presidents are better for employment, you have to take account of the conditions presidents acquire from their predecessors.
  • In 2008 Larry Bartels's book Unequal Democracy tried to do this and did in fact find that growth, employment and economic equality all saw bigger improvements under Democratic administrations. Bartels considered the effect of lags. But he didn't do it very well, according to James Campbell, who critiqued that work last year:
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  • Once lagged economic effects are taken into account, party differences in economic performance are shown to be the effects of economic conditions inherited from the previous president and not the consequence of real policy differences. Specifically, the economy was in recession when Republican presidents became responsible for the economy in each of the four post-1948 transitions from Democratic to Republican presidents. This was not the case for the transitions from Republicans to Democrats. When economic conditions leading into a year are taken into account, there are no presidential party differences with respect to growth, unemployment, or income inequality.
Javier E

How Technology Wrecks the Middle Class - NYTimes.com - 0 views

  • the productivity of American workers — those lucky enough to have jobs — has risen smartly
  • the United States still has two million fewer jobs than before the downturn, the unemployment rate is stuck at levels not seen since the early 1990s and the proportion of adults who are working is four percentage points off its peak in 2000.
  • Do “smart machines” threaten us with “long-term misery,” as the economists Jeffrey D. Sachs and Laurence J. Kotlikoff prophesied earlier this year?
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  • Economists have historically rejected what we call the “lump of labor” fallacy: the supposition that an increase in labor productivity inevitably reduces employment because there is only a finite amount of work to do. While intuitively appealing, this idea is demonstrably false.
  • Labor-saving technological change necessarily displaces workers performing certain tasks — that’s where the gains in productivity come from — but over the long run, it generates new products and services that raise national income and increase the overall demand for labor.
  • The multi-trillionfold decline in the cost of computing since the 1970s has created enormous incentives for employers to substitute increasingly cheap and capable computers for expensive labor.
  • Computers excel at “routine” tasks: organizing, storing, retrieving and manipulating information, or executing exactly defined physical movements in production processes. These tasks are most pervasive in middle-skill jobs
  • Logically, computerization has reduced the demand for these jobs, but it has boosted demand for workers who perform “nonroutine” tasks that complement the automated activities
  • At one end are so-called abstract tasks that require problem-solving, intuition, persuasion and creativity.
  • On the other end are so-called manual tasks, which require situational adaptability, visual and language recognition, and in-person interaction.
  • Computerization has therefore fostered a polarization of employment, with job growth concentrated in both the highest- and lowest-paid occupations, while jobs in the middle have declined.
  • overall employment rates have largely been unaffected in states and cities undergoing this rapid polarization.
  • So computerization is not reducing the quantity of jobs, but rather degrading the quality of jobs for a significant subset of workers. Demand for highly educated workers who excel in abstract tasks is robust, but the middle of the labor market, where the routine task-intensive jobs lie, is sagging.
  • Spurred by growing demand for workers performing abstract job tasks, the payoff for college and professional degrees has soared; despite its formidable price tag, higher education has perhaps never been a better investment.
  • The good news, however, is that middle-education, middle-wage jobs are not slated to disappear completely. While many middle-skill jobs are susceptible to automation, others demand a mixture of tasks that take advantage of human flexibility
  • we predict that the middle-skill jobs that survive will combine routine technical tasks with abstract and manual tasks in which workers have a comparative advantage — interpersonal interaction, adaptability and problem-solving.
  • this category includes numerous jobs for people in the skilled trades and repair: plumbers; builders; electricians; heating, ventilation and air-conditioning installers; automotive technicians; customer-service representatives; and even clerical workers who are required to do more than type and file
  • Lawrence F. Katz, a labor economist at Harvard, memorably called those who fruitfully combine the foundational skills of a high school education with specific vocational skills the “new artisans.”
  • The outlook for workers who haven’t finished college is uncertain, but not devoid of hope. There will be job opportunities in middle-skill jobs, but not in the traditional blue-collar production and white-collar office jobs of the past
  • we expect to see growing employment among the ranks of the “new artisans”: licensed practical nurses and medical assistants; teachers, tutors and learning guides at all educational levels; kitchen designers, construction supervisors and skilled tradespeople of every variety; expert repair and support technicians; and the many people who offer personal training and assistance, like physical therapists, personal trainers, coaches and guides
Javier E

Amanda Ripley's 'Smartest Kids in the World' - NYTimes.com - 0 views

  • Ripley is offering to show how other nations educate students so much more effectively than we do
  • In the best tradition of travel writing, however, she gets well beneath the glossy surfaces of these foreign cultures, and manages to make our own culture look newly strange..
  • Why do you guys care so much?” Kim inquires of two Finnish girls. “I mean, what makes you work hard in school?” The students look baffled by her question. “It’s school,” one of them says. “How else will I graduate and go to university and get a good job?” It’s the only sensible answer, of course, but its irrefutable logic still eludes many American student
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  • how Finland does it: rather than “trying to reverse engineer a high-performance teaching culture through dazzlingly complex performance evaluations and value-added data analysis,” as we do, they ensure high-quality teaching from the beginning, allowing only top students to enroll in teacher-training programs, which are themselves far more demanding than such programs in America. A virtuous cycle is thus initiated: better-prepared, better-trained teachers can be given more autonomy, leading to more satisfied teachers who are also more likely to stay on.
  • Ripley made the canny choice to enlist “field agents” who could penetrate other countries’ schools far more fully than she: three American students, each studying abroad for a year.
  • yet another difference between the schools in top-performing countries and those in the United States. In Tom’s hometown high school, Ripley observes, sports were “the core culture.” Four local reporters show up to each football game. In Wroclaw, “sports simply did not figure into the school day; why would they? Plenty of kids played pickup soccer or basketball games on their own after school, but there was no confusion about what school was for — or what mattered to kids’ life chances.”
  • “In Korea, the hamster wheel created as many problems as it solved.” Still, if she had to choose between “the hamster wheel and the moon bounce that characterized many schools in the United States,” she would reluctantly pick the hamster wheel: “It was relentless and excessive, yes, but it also felt more honest. Kids in hamster-wheel countries knew what it felt like to grapple with complex ideas and think outside their comfort zone; they understood the value of persistence. They knew what it felt like to fail, work harder and do better. They were prepared for the modern world.” Not so American students, who are eased through high school only to discover, too late, that they lack the knowledge and skill to compete in the global economy.
  • Poland, a country that has scaled the heights of international test-score rankings in record time by following the formula common to Finland and South Korea: well-trained teachers, a rigorous curriculum and a challenging exam required of all graduating seniors
  • Ripley explains why: Historically, Americans “hadn’t needed a very rigorous education, and they hadn’t gotten it. Wealth had made rigor optional.” But now, she points out, “everything had changed. In an automated, global economy, kids needed to be driven; they need to know how to adapt, since they would be doing it all their lives. They needed a culture of rigor.”
  • The question is whether the startling perspective provided by this masterly book can also generate the will to make changes. For all our griping about American education, Ripley notes, we’ve got the schools we want.
Javier E

The Promise at Technology's Powerful Heart - WSJ - 0 views

  • Fifty years ago, on April 19, 1965, chemist and reluctant entrepreneur Gordon E. Moore set out to graph the rapid rate of improvement in semiconductor-chip performance—and ended up discovering the heartbeat of the modern world. That discovery is what became known as “Moore’s Law,” which is the observation that performance (speed, price, size) of integrated circuits, aka microchips, regularly doubled every 18 months.
  • it has proved to be the most effective predictive tool of new chip generations, technology innovation and even social and cultural changes of the last half-century.
  • If some of the recent breakthroughs in atomic-level transistors, nanotechnology and biological computers prove fruitful, Moore’s Law could again accelerate, or at least continue to rule, for decades to come. It now seems more likely than ever that a thousand years from now, what will be remembered most about our time will be its stunning efflorescence of innovation and entrepreneurship. By then Moore’s Law will have become Moore’s Era.
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  • These predictions have enormous implications for the millennial generation now entering the workforce. They have never known a world not defined by Moore’s Law. But unlike their generational predecessors, to this new cohort social networks and iPhone apps are old hat.
  • What obsesses them is hardware—drones, robots, 3-D printing—that is even more closely connected to the fortunes of Moore’s Law. Their careers will rise and fall on how well they ride the curve of an equation devised during the Johnson administration
  • And what a curve it will be. Moore’s Law is creative destruction on steroids. It regularly fosters the next wave of entrepreneurial opportunities made possible by the latest jump in chip performance. It can be blamed for much of the 90% mortality rate of electronics startups.
  • The great turning took place a decade ago, while we were all distracted by social networking, smartphones and the emerging banking crisis. Its breathtaking climb since tells us that everything of the previous 40 years—that is, the multi-trillion-dollar revolution in semiconductors, computers, communications and the Internet—was likely nothing but a prelude, a warm-up, for what is to come. It will be upon this wall that millennials will climb their careers against almost-unimaginably quick, complex and ever-changing competition.
  • Crowd-sharing, crowdfunding, bitcoin, micro-venture funding, cloud computing, Big Data—all have been early attempts, of varying success, to cope with the next phase of Moore’s Law. Expect many more to come. Meanwhile, as always, this new pace will become the metronome of the larger culture.
  • Rigid command-and-control structures in every walk of life, from corporations to governments to education, become vulnerable to competition by adaptive and short-lived alliances and confederacies. Now that process is going to attack every corner of society.
  • Even the human brain will be challenged by artificial intelligence—the latter enjoying the advantage of continuously improving at the pace of Moore’s Law.
  • Millennials face one of the greatest opportunities any generation has ever known: to completely remake the world through boundless digital technology.
  • The good news is that this generation seems to be already, often unconsciously, preparing for this adventure—through robotics competitions, gatherings of tech enthusiasts, engineers and tinkerers at Maker Faires and other do-it-yourself events, and playing with new applications for their drones and 3D printers. Having lived their entire lives at the pace of Moore’s Law, they seem to sense that the time has come to hit the accelerator. If millennials don’t entirely get it yet, they soon will.
Javier E

Trump Helsinki Summit: His Servility to Vladimir Putin Is Unbecoming of a President - 0 views

  • In a sign of the poverty of our historical imagination, Trump’s performance is frequently compared to Neville Chamberlain. But this is unfair to Chamberlain, who, although deeply wrongheaded, was in fact a serious and patriotic man. Trump’s performance in Helsinki was something else altogether, a performance so servile that we struggle to place it in context, because there are no parallels in the history of the American presidency.
  • So what are we to make of our president, who relishes insulting and humiliating the leaders of western democracies, but truckles to dictators? We simply do not know (and it remains dangerous to speculate) whether the Russians have “kompromat” on Trump. Perhaps the reality is worse; maybe Trump really believes all of this and genuinely admires what Putin represents.
  • Monday in Helsinki reminded us that as valuable as the court may be, it’s not worth it; not worth the mendacity, the pusillanimous appeasement, the debasement of the presidency, the castration of the Congress, the mockery of decency, the assault on truth, the air of thuggery and corruption in Trumpian politics, and the diminishment of our role in the world.
Javier E

Germany's Green Energy Policy Is A 'Disaster,' Says Man Who Helped Design It | The Dail... - 0 views

  • All of Germany’s subsidies and support for green energy have sharply increased power prices, with the average German paying 39 cents per kilowatt-hour for electricity. The average American only spends 10.4 cents per kilowatt-hour by comparison.
  • Germany’s power grid almost collapsed in January due to poor performance from wind turbines and solar panels, according to data from a major trade union. Wind and solar power plants under-performed that month because of cloudy weather with little or no wind, setting the stage for massive blackouts. The country’s power grid was strained to the absolute limit and could have gone offline entirely, triggering a national blackout, if just one power plant had gone offline.
  • Due to the inherent unreliable performance of wind power and political opposition to nuclear power plants, Germany has been forced to return to coal to generate electricity. Coal now provides 44 percent of  Germany’s power,  This shift caused Germany’s carbon dioxide (CO2) emissions to actually rise by 28 million tons each year following the policy shift.
Javier E

We're Testing the Wrong People - The Atlantic - 0 views

  • We have a shortage of COVID-19 tests, and we simultaneously have the highest number of confirmed cases in the world. Consequently, not every American who wants a test can get one. Not every health-care worker can get one. Not even every patient entering a hospital can get one.
  • To safely reopen closed businesses and revive American social life, we need to perform many more tests—and focus them on the people most likely to spread COVID-19, not sick patients.
  • according to the COVID Tracking Project, a data initiative launched by The Atlantic in March, the number of tests performed in the United States has plateaued at about 130,000 to 160,000 a day.
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  • COVID-19 testing has been an unmitigated failure in this country.
  • Rather than growing rapidly—as all experts think is absolutely necessary—the daily number of tests administered in some jurisdictions has even decreased. In New York, for instance, 10,241 tests were performed on April 6, but supply limits forced a huge drop a few days later to 25 total tests.
  • Quest Diagnostics, one of the two biggest firms that run tests, just furloughed 9 percent of its workforce. In addition, news reports suggest that, as of last week, 90 percent of the 15-minute tests developed by Abbott Laboratories are idle due to a lack of necessary reagents and qualified personnel
  • How many tests do we need in order to safely relax social-distancing measures, reopen nonessential businesses and schools, and allow large gatherings
  • we should be conducting a minimum of 500,000 tests a day.
  • Paul Romer, has called for the capacity to run 20 million to 30 million tests a day
  • Even this has been criticized as insufficient for the task of identifying enough of the asymptomatic spreaders to keep the pandemic in check.
  • Current guidelines from the Centers for Disease Control and Prevention give priority first to hospitalized patients and symptomatic health-care workers, then to high-risk patients
  • ptomatic individuals are not tested, even if they had contact with people who tested positive.
  • This is an enormous mistake. If we want to control the spread of COVID-19, the United States must adopt a new testing policy that prioritizes people who, although asymptomatic, may have the virus and infect many others.
  • We should target four groups. First, all health-care workers and other first responders who directly interact with many people
  • The fourth group would include all those who are planning to return to the workplace. These are precisely the individuals without symptoms whom the CDC recommends against testing.
  • The next group would be potential “super-spreaders”—asymptomatic individuals who could come into contact with many people. This third group would include people in large families and those who must interact with many vulnerable people, such as employees of long-term-care facilities
  • Second, workers who maintain our supply chains and crucial infrastructure, including grocery-store workers, police officers, public-transit workers, and sanitation personnel.
  • Not testing suspected COVID-19 patients will not harm those patients
  • Symptomatic patients should be tested only in the rare case where a positive test would meaningfully change what type of care is delivered.
  • To shift the focus of testing away from the sickest patients and toward the people most likely to spread the coronavirus, we will have to conduct millions of tests a day.
  • How can we close this gap between our needs and current capacity? We need a national strategy over the next 10 weeks, one that draws on the many strengths of our research system
  • We also need to encourage rapid adoption of the saliva test that now has an emergency approval from the FDA and expedite the approval of tests that require fewer reagents and staff.
  • Another promising pathway is to pool many tests and run them together. If a pooled sample tests negative, everyone in the pool is negative. If it is positive, the members of the pool can be tested individually
  • A more sophisticated version of this approach uses genetic “bar codes” that make it possible to trace back which of the many samples in a pool was the one that had RNA from the virus, without any retesting.
  • How can we get this testing capacity up and running? One idea is for Congress to award in the next stimulus bill, say, $150 million in unrestricted research funds to the first five universities that can process 10 million tests in a week or less
  • Another catalyst could be to subsidize businesses that agree to test all their employees as they return to work
  • When someone tests positive, officials should identify close contacts, find them, and test them. To do the tracing, we may need to hire 100,000 to 200,000 additional public-health workers.
  • This type of voluntary contact tracing is labor-intensive and requires some training, but it does not require highly specialized skills
  • If we adopt and follow a coherent plan, we can have a testing regime that keeps us safe without compromising our freedoms
g-dragon

Unmanned: An Unnatural History of Human Castration | Psychology Today - 0 views

  • castration also greatly reduces production of the male hormone testosterone
  • Emasculation has been variously employed to make male slaves more docile, to punish enemies or criminals, and to reduce the noxious urges of sex offenders. In modern medical practice, orchidectomy is most commonly employed to treat testicular cancer, and is generally confined to removing only one testis. But removal of both testes may be performed to counter prostate cancer by lowering testosterone levels, or following major physical injury.
  • Castration after puberty, turning men into eunuchs, diminishes or completely eliminates the sex drive. Muscle mass, physical strength and body hair are all typically reduced, and eunuchs are usually beardless. Breast enlargement is also common.
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  • Castration was performed not only as a punishment but also as a prerequisite for entering imperial service. Towards the end of the Ming Dynasty in the mid-17th Century some 70,000 eunuchs were employed to serve the emperor.
  • In an entirely different context, castration has also been carried out on young boys before puberty to prevent their voices from breaking
  • Men castrated before puberty retain an unusual high-pitched singing voice broadly comparable to that of a soprano, mezzo-soprano, or contralto, but covering a strikingly wide range.
  • the effects of castration, including strikingly long limb-bones, incomplete bone fusion and low bone density (osteoporosis
  • With Italy as its epicentre, enthusiasm for musical performances of castrati prevailed for over three hundred years,
Javier E

Kicking Homer to the Curb: The American Scholar Who Upended the Classics - The New York... - 0 views

  • Who was Homer? How did he make his poems? Were the “Iliad” and the “Odyssey” even produced by the same person? In the face of more than two millenniums of debate, Parry showed that these were the wrong questions. There was no ancient poet called “Homer,” he argued. Nor were the poems attributed to him “written” by any single individual. Rather, they were the product of a centuries-long tradition of poet-performers.
  • e traveled for 15 months to what was then Yugoslavia, and discovered guslars — or “singers of tales,” as he would call them — practicing a still-living oral tradition. Their songs of weddings and war performed in cafes (and, later, in a traveling studio of Parry’s devising) provided living proof that his theory about the composition of the Homeric epics was, in fact, possible in practice. In the process, he created a new audio device to record long songs on aluminum disks, now housed at Harvard University. This fieldwork marked, in the estimation of many, the beginning of the discipline of “sound studies,” showing that poetry could be song and epic, a performance.
Javier E

How Index Funds May Hurt the Economy - The Atlantic - 0 views

  • Thanks to their ultralow fees and stellar long-term performance, these investment vehicles have soaked up more and more money since being developed by Vanguard’s Jack Bogle in the 1970s
  • as of 2016, investors worldwide were pulling more than $300 billion a year out of actively managed funds and pushing more than $500 billion a year into index funds. Some $11 trillion is now invested in index funds, up from $2 trillion a decade ago. And as of 2019, more money is invested in passive funds than in active funds in the United States.
  • Indexing has also gone small, very small. Although many financial institutions offer index funds to their clients, the Big Three control 80 or 90 percent of the market. The Harvard Law professor John Coates has argued that in the near future, just 12 management professionals—meaning a dozen people, not a dozen management committees or firms, mind you—will likely have “practical power over the majority of U.S. public companies.”
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  • Indexing has gone big, very big. For nine in 10 companies on the S&P 500, their largest single shareholder is one of the Big Three. For many, the big indexers control 20 percent or more of their shares. Index funds now control 20 to 30 percent of the American equities market, if not more.
  • The problem is that the public markets have been cornered by a group of investment managers small enough to fit at a lunch counter, dedicated to quiescence and inertia.
  • Passively managed investment options do not just outperform actively managed ones in terms of both better returns and lower fees. They eat their lunch.
  • Let’s imagine that a decade ago you invested $100 in an index fund charging a 0.04 percent fee and $100 in a traditional mutual fund charging a 1.5 percent fee. Let’s also imagine that the index fund tracked the S&P 500, and that the mutual fund ended up returning what the S&P 500 returned. Your passively invested $100 would have turned into $356.66 in 10 years. Your traditionally invested $100 would have turned into $313.37.
  • Actively managed investment options could make up for their higher fees with higher returns. And some do, some of the time. Yet scores of industry and academic studies stretching over decades show that trying to beat the market tends to result in lower returns than just buying the market. Only a quarter of actively managed mutual funds exceeded the returns of their passively managed cousins in the decade leading up to 2019,
  • What might be good for retail investors might not be good for the financial markets, public companies, or the American economy writ large, and the passive revolution’s scope has raised all sorts of hand-wringing and red-flagging. Analysts at Bernstein have called passive investing “worse than Marxism.” The investor Michael Burry, of The Big Short fame, has called it a “bubble,” and a co-head of Goldman Sachs’s investment-management division has warned about froth too. Shortly before his death in 2019, Bogle himself warned that index funds’ dominance might not “serve the national interest.”
  • One primary concern comes from the analysts at Bernstein: “A supposedly capitalist economy where the only investment is passive is worse than either a centrally planned economy or an economy with active, market-led capital management.”
  • Active managers direct investment dollars to companies on the basis of those companies’ research-and-development prospects, human capital, regulatory outlook, and so on. They take new information and price it into a company’s stock when buying and selling shares.
  • Passive investors, by contrast, ignore annual reports and market rumors. They do nothing with trading-floor gossip. They make no attempt to research what to invest in and what to skip. Whether holding international or domestic assets, holding stocks or bonds, or using a mutual-fund structure or an ETF structure, they just mirror the market. Big U.S.-stock index funds buy big U.S. stocks just because they’re big U.S. stocks.
  • At least in a Soviet-type centrally planned economy, apparatchiks would be making some attempt to allocate resources efficiently.
  • Passive management is merely a giant phenomenon, not an all-encompassing one. Hundreds of actively managed mutual funds are still out there, as are legions of day traders, hedge funds, and private offices buying and selling and buying and selling. Stock prices still move around, sometimes dramatically, on the basis of new data and new ideas.
  • Still, passive investing may well be degrading the informational content of the markets, messing up price signals and making business decisions harder as a result.
  • When one of these commodities ends up on an index, the firms that use that commodity in their business see a 6 percent increase in costs and a 40 percent decrease in operating profits, relative to firms without exposure to the commodity, the academics found
  • Their theory is that ETF trading shifts prices in subtle ways, making it harder for businesses to know when to buy their gold and copper. Corporate executives “are being influenced by what happens in the futures market, and what happens in the futures market is being influenced by ETF trading,”
  • More broadly, the Bernstein analysts, among others, worry that index-linked investing is increasing correlation, whereby the prices of stocks, bonds, and other assets move up or down or sideways together.
  • the price fluctuations of a newly indexed stock “magically and quickly” change. A firm’s shares begin to move “more closely with its 499 new neighbors and less closely with the rest of the market. It is as if it has joined a new school of fish.”
  • A far bigger concern is that the rise of the indexers might be making American firms less competitive, through “common ownership,” in which the mega-asset managers control large stakes in multiple competitors in the same industry. The passive firms control big chunks of the airlines American, Delta, JetBlue, Southwest, and United, for instance
  • The rise of common ownership might be perverting corporate behavior in weird ways, academics argue. Think about the incentives like this: Let’s imagine that you are a major shareholder in a public widget company. We’d expect you to desire—insist, even—that the company fight for market share and profits. But now imagine that you are a major shareholder in all the important widget companies. You would no longer really care which one succeeded, particularly not if one company doing better meant another company doing worse. You’d just care about the widget sector’s corporate profits, which would go up if the widget companies quit competing with one another and started raising prices to pad their bottom line.
  • one major paper showed that common ownership of airline stocks had the effect of raising ticket prices by 3 to 7 percent.
  • A separate study showed that consumers are paying higher prices for prescription medicines because generic-drug makers have less incentive to compete with the companies making name-brand drugs.
  • Yet another study showed that common ownership is leading retail banks to charge higher prices.
  • Across firms, executive compensation seems to be more closely linked to a company’s performance when its shareholders are not invested in the company’s rivals, the study found. In other words, firms stop paying managers for performance when owned by the same people who own their rivals.
  • The market clout of the indexers raises other questions too. The actual owners of the stocks—not the index-fund managers but the people putting money into index funds—have little say over the companies they own. Vanguard, Fidelity, and State Street, not Mom and Dad, vote in shareholder elections
  • In fact, the Big Three cast roughly 25 percent of the votes in S&P 500 companies.
  • In an interview with The Wall Street Journal, the chief executive officer of State Street said he thought it was “almost inevitable, when you see this kind of concentration, that it probably will make sense to do something about it.”
  • But figuring out what the appropriate restrictions are depends on determining just what the problem with the indexers is—are they distorting price signals, raising the cost of consumer goods, posing financial systemic risk, or do they just have the market cornered? Then, what to do about it? Common ownership is not a problem the government is used to handling.
  • , thanks to the passive revolution, a broad variety and huge number of firms might have less incentive to compete. The effect on the real economy might look a lot like that of rising corporate concentration. And the two phenomena might be catalyzing one another, as index investing increases the number of mergers and makes them more lucrative.
  • In recent decades, the whole economy has gone on autopilot. Index-fund investment is hyperconcentrated. So is online retail. So are pharmaceuticals. So is broadband. Name an industry, and it is likely dominated by a handful of giant players. That has led to all sorts of deleterious downstream effects: suppressing workers’ wages, raising consumer prices, stifling innovation, stoking inequality, and suffocating business creation
  • The problem is not just the indexers. It is the public markets they reflect, where more chaos, more speculation, more risk, more innovation, and more competition are desperately needed.
katherineharron

The religious roots of today's partisan divide - CNNPolitics - 0 views

  • The religious and cultural divide between Democratic and Republican voters is widening, pointing toward even greater partisan polarization and social tension as the nation careens into a possible impeachment vote against President Donald Trump and potential record turnout in the 2020 presidential election.
  • An extensive national study released Monday by the nonpartisan Public Religion Research Institute showed that voters in each party now hold antithetical views not only on issues that dominate the immediate political debate -- such as health care and impeachment -- but also on deeper changes in the nation's demography, culture, race relations and gender roles, according to detailed results the institute provided to CNN.
  • This separation in attitudes is rooted in an even deeper divergence between the two sides: While whites who identify as Christians still represent about two-thirds of all Republicans, they now compose only one-fourth of Democrats, according to results provided by the Pew Research Center from a new study it released last week. Americans unaffiliated with any religion, and racial minorities who identify as Christians, now each make up a bigger share of the Democratic coalition than white Christians do, Pew found. Both groups remain only relatively minor components of the GOP coalition.
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  • On the religious front, just as in those other arenas, the groups that favor Democrats are clearly growing. Not only have the religiously unaffiliated expanded since 2009 from about 1 in 6 to 1 in 4 adults, but the share of Americans who ascribe to non-Christian faiths, a group that also leans strongly Democratic, has edged up from 5% to 7% of the population over that time, Pew found. Simultaneously, white Christians have fallen as a share of all American adults -- from just over half in 2009, according to Pew and other data, to around two-fifths today.
  • The challenge for Democrats is that their potential gains from the growing groups are being muted by an increasing tilt toward the GOP among the groups that are shrinking, in this case whites who identify as Christian. (The same dynamic is evident among other contracting groups such as whites without college degrees.) The combined result has left the parties on something of a treadmill, as Republicans offset at least some of the demographic change that benefits Democrats with improved performance among the key groups of shrinking white voters.
  • But even as white Christians have declined as a share of the population, more of that shrinking group is aligning with Republicans. In 2009, Pew found 51% of white Christians identified as Republicans, while 37% considered themselves Democrats (the rest were independents). Today that 14-point partisan gap has more than doubled: In the latest Pew results, 63% of white Christians identify as Republicans, compared with 30% who identify as Democrats.
  • The Democrats' religious profile could not be more distinct. White Christians now make up only 25% of Democrats, Pew found, down sharply from 40% in 2009. (White evangelicals compose only 7% of all Democrats.) Today, a larger share of Democrats in the Pew results are either not affiliated with any religion (34%) or are nonwhite Christians (30%), Pew found. Another 9% of Democrats adhere to non-Christian faiths. In each of those three latter cases, that's about double the share of Republicans in those categories.
  • As a result, even as white Christians have fallen below majority status in the country, they remain a clear majority of Republicans. In all, 64% of Republicans identify as white Christians in the latest Pew data. (The PRRI findings put the figure even slightly higher, at nearly 70%). That means white Christians now represent about the same share of Republicans as they did in the country overall in 1998. White evangelical Protestants alone represent 30% of Republicans, about double their share in the general population, Pew found.
  • The movement has been even sharper among white evangelical Protestants. Their share of the overall population is also shrinking: It fell to 16% in the latest Pew results, down from 19% in 2009. In 2009, they were about twice as likely to identify as Republicans (61%) as Democrats (30%), according to figures provided by Gregory Smith, Pew's associate director of research. Today 75% of white evangelicals call themselves Republicans, while just 19% identify as Democrats, a ratio of nearly 4 to 1.
  • While two-thirds of white evangelicals, for instance, say discrimination against whites is as big a problem as discrimination against minorities, more than 7 in 10 among the religiously unaffiliated disagree. Two-thirds of white evangelicals say immigrants are "invading" America; three-fourths of the religiously unaffiliated disagree. Three-fourths of white evangelicals say socialists have taken over the Democratic Party; two-thirds of the unaffiliated say racists now control the Republican Party.
  • The groups diverge in their assessment of every element of Trump's performance. Three-fourths of the unaffiliated say Trump has encouraged white supremacy; 70% of white evangelicals say he has not. Four-fifths of the unaffiliated disapprove of Trump's job performance; more than three-fourths of the evangelicals approve. More than three-fifths of the unaffiliated support Trump's impeachment and removal; nearly 9 in 10 evangelicals oppose it.
  • That means that if Republicans can't make more inroads with the diverse groups that are growing, they will constantly need bigger margins from their diminishing white groups just to stay in place. As Jones, of the Public Religion Research Institute, noted in an email, "Republicans look about like 65-year-old America or about like America did back in the mid-1990s, while Democrats look about like 30-year-old America or about like [what the] country is going to look a decade from now, if current trends continue."
cartergramiak

Without Trump, or Masks, Mar-a-Lago Partied On - The New York Times - 0 views

  • President Trump’s private social club in Palm Beach, Fla., hosted a New Year’s Eve gala at which revelers without masks dined indoors and danced to performances by Vanilla Ice and members of the Beach Boys.
  • But members of the president’s family and extended political circle partied on anyway at an event that flouted warnings against indoor gatherings during the holidays as the coronavirus surges to its deadliest levels yet.
  • Attendees included Mr. Trump’s oldest son, Donald Trump Jr., and his girlfriend, the former Fox News host Kimberly Guilfoyle. Rudolph W. Giuliani, the president’s personal lawyer and a former New York mayor, was shown in online footage ballroom-dancing with a female partner to a rendition of “New York, New York.” More than 500 guests were expected, according to The Palm Beach Post.
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  • Social media posts from the event also showed live performances by Teri Nunn, the lead singer of the 1970s and ’80s new-wave band Berlin, famous for the song “Take My Breath Away,” and two members of the Beach Boys, who now perform without the founding members Al Jardine and Brian Wilson.
  • Mr. Trump and the first lady, Melania Trump, unexpectedly returned to the White House hours before the party, which he had originally planned to attend. It was unclear why Mr. Trump flew back to Washington, where he has not appeared in public since his return.
  • “Now they want to give people ravaged by the China Virus $600, rather than the $2000 which they so desperately need,” he wrote. “Not fair, or smart!”
leilamulveny

Inside the Week That Shook the Trump Campaign - WSJ - 0 views

  • Polls would soon show the performance had cost the president support.
  • The other was the fallout from the Supreme Court nomination ceremony for Judge Amy Coney Barrett he had held the previous weekend at the White House. Anthony Fauci, the nation’s top infectious disease expert, would soon describe the event as a “superspreader” of Covid-19 and within days, Mr. Trump would test positive for the disease.
  • Some advisers have urged him to rethink his debate-preparation strategy, but, as of Wednesday afternoon, Mr. Trump hadn’t attended any prep sessions for Thursday’s debate, formally or informally, people familiar with the matter said.
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  • “Trump is still the political outsider, while Biden is the ultimate insider,” Mr. Murtaugh said.
  • Mr. Trump is publicly optimistic, but privately appears aware that he is trailing in the race, people familiar with the matter said.
  • A Wall Street Journal/NBC News poll taken in the days after the first debate, but before Mr. Trump tested positive, found that Mr. Biden’s lead over the president had grown to 14 points from 8 in September, with voters by a 2-to-1 margin saying Mr. Biden had outperformed Mr. Trump in the debate.
  • “We had a superspreader event in the White House, and it was in a situation where people were crowded together and were not wearing masks,” Dr. Fauci said in an Oct. 9 CBS News Radio interview.
  • Mr. Trump eschewed traditional practice debate sessions in favor of more informal discussions with his team, advisers said. At one point during practice, he asked the group, “Why are you guys in here? Why aren’t you out there defending me on TV?”
  • Mr. Trump told aides afterwards that he blamed Mr. Wallace for his own interruptions. His performance stunned advisers, one of whom later described the president’s performance as “one of the most incredible self-inflicted wounds of all time.”
Javier E

Facebook's Dangerous Experiment on Teen Girls - The Atlantic - 0 views

  • Much more than for boys, adolescence typically heightens girls’ self-consciousness about their changing body and amplifies insecurities about where they fit in their social network. Social media—particularly Instagram, which displaces other forms of interaction among teens, puts the size of their friend group on public display, and subjects their physical appearance to the hard metrics of likes and comment counts—takes the worst parts of middle school and glossy women’s magazines and intensifies them.
  • The preponderance of the evidence now available is disturbing enough to warrant action.
  • The toxicity comes from the very nature of a platform that girls use to post photographs of themselves and await the public judgments of others.
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  • imilar increases occurred at the same time for girls in Canada for mood disorders and for self-harm. Girls in the U.K. also experienced very large increases in anxiety, depression, and self-harm (with much smaller increases for boys).
  • Some have argued that these increases reflect nothing more than Gen Z’s increased willingness to disclose their mental-health problems. But researchers have found corresponding increases in measurable behaviors such as suicide (for both sexes), and emergency-department admissions for self-harm (for girls only). From 2010 to 2014, rates of hospital admission for self-harm did not increase at all for women in their early 20s, or for boys or young men, but they doubled for girls ages 10 to 14.
  • The available evidence suggests that Facebook’s products have probably harmed millions of girls. If public officials want to make that case, it could go like this:
  • from 2010 to 2014, high-school students moved much more of their lives onto social-media platforms.
  • National surveys of American high-school students show that only about 63 percent reported using a “social networking site” on a daily basis back in 2010.
  • But as smartphone ownership increased, access became easier and visits became more frequent. By 2014, 80 percent of high-school students said they used a social-media platform on a daily basis, and 24 percent said that they were online “almost constantly.”
  • 2. The timing points to social media.
  • Notably, girls became much heavier users of the new visually oriented platforms, primarily Instagram (which by 2013 had more than 100 million users), followed by Snapchat, Pinterest, and Tumblr.
  • Boys are glued to their screens as well, but they aren’t using social media as much; they spend far more time playing video games. When a boy steps away from the console, he does not spend the next few hours worrying about what other players are saying about him
  • Instagram, in contrast, can loom in a girl’s mind even when the app is not open, driving hours of obsessive thought, worry, and shame.
  • 3. The victims point to Instagram.
  • In 2017, British researchers asked 1,500 teens to rate how each of the major social-media platforms affected them on certain well-being measures, including anxiety, loneliness, body image, and sleep. Instagram scored as the most harmful, followed by Snapchat and then Facebook.
  • Facebook’s own research, leaked by the whistleblower Frances Haugen, has a similar finding: “Teens blame Instagram for increases in the rate of anxiety and depression … This reaction was unprompted and consistent across all groups.” The researchers also noted that “social comparison is worse” on Instagram than on rival apps.
  • 4. No other suspect is equally plausible.
  • A recent experiment confirmed these observations: Young women were randomly assigned to use Instagram, use Facebook, or play a simple video game for seven minutes. The researchers found that “those who used Instagram, but not Facebook, showed decreased body satisfaction, decreased positive affect, and increased negative affect.”
  • Snapchat’s filters “keep the focus on the face,” whereas Instagram “focuses heavily on the body and lifestyle.
  • (Boys lost less, and may even have gained, when they took up multiplayer fantasy games, especially those that put them into teams.)
  • The subset of studies that allow researchers to isolate social media, and Instagram in particular, show a much stronger relationship with poor mental health. The same goes for those that zoom in on girls rather than all teens.
  • In a 2019 internal essay, Andrew Bosworth, a longtime company executive, wrote:While Facebook may not be nicotine I think it is probably like sugar. Sugar is delicious and for most of us there is a special place for it in our lives. But like all things it benefits from moderation.
  • Bosworth was proposing what medical researchers call a “dose-response relationship.” Sugar, salt, alcohol, and many other substances that are dangerous in large doses are harmless in small ones.
  • his framing also implies that any health problems caused by social media result from the user’s lack of self-control. That’s exactly what Bosworth concluded: “Each of us must take responsibility for ourselves.” The dose-response frame also points to cheap solutions that pose no threat to its business model. The company can simply offer more tools to help Instagram and Facebook users limit their consumption.
  • social-media platforms are not like sugar. They don’t just affect the individuals who overindulge. Rather, when teens went from texting their close friends on flip phones in 2010 to posting carefully curated photographs and awaiting comments and likes by 2014, the change rewired everyone’s social life.
  • Improvements in technology generally help friends connect, but the move onto social-media platforms also made it easier—indeed, almost obligatory––for users to perform for one another.
  • Public performance is risky. Private conversation is far more playful. A bad joke or poorly chosen word among friends elicits groans, or perhaps a rebuke and a chance to apologize. Getting repeated feedback in a low-stakes environment is one of the main ways that play builds social skills, physical skills, and the ability to properly judge risk. Play also strengthens friendships.
  • When girls started spending hours each day on Instagram, they lost many of the benefits of play.
  • First, Congress should pass legislation compelling Facebook, Instagram, and all other social-media platforms to allow academic researchers access to their data. One such bill is the Platform Transparency and Accountability Act, proposed by the Stanford University researcher Nate Persily.
  • The wrong photo can lead to school-wide or even national infamy, cyberbullying from strangers, and a permanent scarlet letter
  • Performative social media also puts girls into a trap: Those who choose not to play the game are cut off from their classmates
  • Instagram and, more recently, TikTok have become wired into the way teens interact, much as the telephone became essential to past generations.
  • f those platforms. Without a proper control group, we can’t be certain that the experiment has been a catastrophic failure, but it probably has been. Until someone comes up with a more plausible explanation for what has happened to Gen Z girls, the most prudent course of action for regulators, legislators, and parents is to take steps to mitigate the harm.
  • Correlation does not prove causation, but nobody has yet found an alternative explanation for the massive, sudden, gendered, multinational deterioration of teen mental health during the period in question.
  • Second, Congress should toughen the 1998 Children’s Online Privacy Protection Act. An early version of the legislation proposed 16 as the age at which children should legally be allowed to give away their data and their privacy.
  • Unfortunately, e-commerce companies lobbied successfully to have the age of “internet adulthood” set instead at 13. Now, more than two decades later, today’s 13-year-olds are not doing well. Federal law is outdated and inadequate. The age should be raised. More power should be given to parents, less to companies.
  • Third, while Americans wait for lawmakers to act, parents can work with local schools to establish a norm: Delay entry to Instagram and other social platforms until high school.
  • Right now, families are trapped. I have heard many parents say that they don’t want their children on Instagram, but they allow them to lie about their age and open accounts because, well, that’s what everyone else has done.
Javier E

Why Is It So Hard to Be Rational? | The New Yorker - 0 views

  • The real challenge isn’t being right but knowing how wrong you might be.By Joshua RothmanAugust 16, 2021
  • Writing about rationality in the early twentieth century, Weber saw himself as coming to grips with a titanic force—an ascendant outlook that was rewriting our values. He talked about rationality in many different ways. We can practice the instrumental rationality of means and ends (how do I get what I want?) and the value rationality of purposes and goals (do I have good reasons for wanting what I want?). We can pursue the rationality of affect (am I cool, calm, and collected?) or develop the rationality of habit (do I live an ordered, or “rationalized,” life?).
  • Weber worried that it was turning each individual into a “cog in the machine,” and life into an “iron cage.” Today, rationality and the words around it are still shadowed with Weberian pessimism and cursed with double meanings. You’re rationalizing the org chart: are you bringing order to chaos, or justifying the illogical?
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  • For Aristotle, rationality was what separated human beings from animals. For the authors of “The Rationality Quotient,” it’s a mental faculty, parallel to but distinct from intelligence, which involves a person’s ability to juggle many scenarios in her head at once, without letting any one monopolize her attention or bias her against the rest.
  • In “The Rationality Quotient: Toward a Test of Rational Thinking” (M.I.T.), from 2016, the psychologists Keith E. Stanovich, Richard F. West, and Maggie E. Toplak call rationality “a torturous and tortured term,” in part because philosophers, sociologists, psychologists, and economists have all defined it differently
  • Galef, who hosts a podcast called “Rationally Speaking” and co-founded the nonprofit Center for Applied Rationality, in Berkeley, barely uses the word “rationality” in her book on the subject. Instead, she describes a “scout mindset,” which can help you “to recognize when you are wrong, to seek out your blind spots, to test your assumptions and change course.” (The “soldier mindset,” by contrast, encourages you to defend your positions at any cost.)
  • Galef tends to see rationality as a method for acquiring more accurate views.
  • Pinker, a cognitive and evolutionary psychologist, sees it instrumentally, as “the ability to use knowledge to attain goals.” By this definition, to be a rational person you have to know things, you have to want things, and you have to use what you know to get what you want.
  • Introspection is key to rationality. A rational person must practice what the neuroscientist Stephen Fleming, in “Know Thyself: The Science of Self-Awareness” (Basic Books), calls “metacognition,” or “the ability to think about our own thinking”—“a fragile, beautiful, and frankly bizarre feature of the human mind.”
  • A successful student uses metacognition to know when he needs to study more and when he’s studied enough: essentially, parts of his brain are monitoring other parts.
  • In everyday life, the biggest obstacle to metacognition is what psychologists call the “illusion of fluency.” As we perform increasingly familiar tasks, we monitor our performance less rigorously; this happens when we drive, or fold laundry, and also when we think thoughts we’ve thought many times before
  • The trick is to break the illusion of fluency, and to encourage an “awareness of ignorance.”
  • metacognition is a skill. Some people are better at it than others. Galef believes that, by “calibrating” our metacognitive minds, we can improve our performance and so become more rational
  • There are many calibration methods
  • nowing about what you know is Rationality 101. The advanced coursework has to do with changes in your knowledge.
  • Most of us stay informed straightforwardly—by taking in new information. Rationalists do the same, but self-consciously, with an eye to deliberately redrawing their mental maps.
  • The challenge is that news about distant territories drifts in from many sources; fresh facts and opinions aren’t uniformly significant. In recent decades, rationalists confronting this problem have rallied behind the work of Thomas Bayes
  • So-called Bayesian reasoning—a particular thinking technique, with its own distinctive jargon—has become de rigueur.
  • the basic idea is simple. When new information comes in, you don’t want it to replace old information wholesale. Instead, you want it to modify what you already know to an appropriate degree. The degree of modification depends both on your confidence in your preëxisting knowledge and on the value of the new data. Bayesian reasoners begin with what they call the “prior” probability of something being true, and then find out if they need to adjust it.
  • Bayesian reasoning is an approach to statistics, but you can use it to interpret all sorts of new information.
Javier E

How OnlyFans top earner Bryce Adams makes millions selling a sex fantasy - Washington Post - 0 views

  • In the American creator economy, no platform is quite as direct or effective as OnlyFans. Since launching in 2016, the subscription site known primarily for its explicit videos has become one of the most methodical, cash-rich and least known layers of the online-influencer industry, touching every social platform and, for some creators, unlocking a once-unimaginable level of wealth.
  • More than 3 million creators now post around the world on OnlyFans, which has 230 million subscribing “fans” — a global audience two-thirds the size of the United States itself
  • fans’ total payouts to creators soared last year to $5.5 billion — more than every online influencer in the United States earned from advertisers that year,
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  • If OnlyFans’s creator earnings were taken as a whole, the company would rank around No. 90 on Forbes’s list of the biggest private companies in America by revenue, ahead of Twitter (now called X), Neiman Marcus Group, New Balance, Hard Rock International and Hallmark Cards.
  • Many creators now operate like independent media companies, with support staffs, growth strategies and promotional budgets, and work to apply the cold quantification and data analytics of online marketing to the creation of a fantasy life.
  • The subscription site has often been laughed off as a tabloid punchline, a bawdy corner of the internet where young, underpaid women (teachers, nurses, cops) sell nude photos, get found out and lose their jobs.
  • pressures to perform for a global audience; an internet that never forgets. “There is simply no room for naivety,” one said in a guide posted to Reddit’s r/CreatorsAdvice.
  • America’s social media giants for years have held up online virality as the ultimate goal, doling out measurements of followers, reactions and hearts with an unspoken promise: that internet love can translate into sponsorships and endorsement deals
  • But OnlyFans represents the creator economy at its most blatantly transactional — a place where viewers pay upfront for creators’ labor, and intimacy is just another unit of content to monetize.
  • The fast ascent of OnlyFans further spotlights how the internet has helped foster a new style of modern gig work that creators see as safe, remote and self-directed,
  • Creators’ nonchalance about the digital sex trade has fueled a broader debate about whether the site’s promotion of feminist autonomy is a facade: just a new class of techno-capitalism, selling the same patriarchal dream.
  • But OnlyFans increasingly has become the model for how a new generation of online creators gets paid. Influencers popular on mainstream sites use it to capitalize on the audiences they’ve spent years building. And OnlyFans creators have turned going viral on the big social networks into a marketing strategy, using Facebook, Twitter and TikTok as sales funnels for getting new viewers to subscribe.
  • many creators, she added, still find it uniquely alluring — a rational choice in an often-irrational environment for gender, work and power. “Why would I spend my day doing dirty, degrading, minimum-wage labor when I can do something that brings more money in and that I have a lot more control over?”
  • it is targeting major “growth regions” in Latin America, Europe and Australia. (The Mexican diver Diego Balleza said he is using his $15-a-month account to save up for next year’s Paris Olympics.)
  • “Does an accountant always enjoy their work? No. All work has pleasure and pain, and a lot of it is boring and annoying. Does that mean they’re being exploited?”
  • Adams’s operation is registered in state business records as a limited liability company and offers quarterly employee performance reviews and catered lunch. It also runs with factory-like efficiency, thanks largely to a system designed in-house to track millions of data points on customers and content and ensure every video is rigorously planned and optimized.
  • Since sending her first photo in 2021, Adams’s OnlyFans accounts have earned $16.5 million in sales, more than 1.4 million fans and more than 11 million “likes.” She now makes about $30,000 a day — more than most American small businesses — from subscriptions, video sales, messages and tips, half of which is pure profit
  • Adams’s team sees its business as one of harmless, destigmatized gratification, in which both sides get what they want. The buyers are swiped over in dating apps, widowed, divorced or bored, eager to pay for the illusion of intimacy with an otherwise unattainable match. And the sellers see themselves as not all that different from the influencers they watched growing up on YouTube, charging for parts of their lives they’d otherwise share for free.
  • “This is normal for my generation, you know?
  • “I can go on TikTok right now and see ten girls wearing the bare minimum of clothing just to get people to join their page. Why not go the extra step to make money off it?”
  • the job can be financially precarious and mentally taxing, demanding not just the technical labor of recording, editing, managing and marketing but also the physical and emotional labor of adopting a persona to keep clients feeling special and eager to spend.
  • enix International Limited, is based, the company said its sales grew from $238 million in 2019 to more than $5.5 billion last year.
  • Its international army of creators has also grown from 348,000 in 2019 to more than 3 million today — a tenfold increase.
  • The company paid its owner, the Ukrainian American venture capitalist Leonid Radvinsky, $338 million in dividends last year.)
  • portion of its creator base and 70 percent of its annual revenue
  • When Tim Stokely, a London-based operator of live-cam sex sites, founded OnlyFans with his brother in 2016, he framed it as a simple way to monetize the creators who were becoming the world’s new celebrities — the same online influencers, just with a payment button. In 2019, Stokely told Wired magazine that his site was like “a bolt-on to your existing social media,” in the same way “Uber is a bolt-on to your car.”
  • Before OnlyFans, pornography on the internet had been largely a top-down enterprise, with agents, producers, studios and other middlemen hoarding the profits of performers’ work. OnlyFans democratized that business model, letting the workers run the show: recording their own content, deciding their prices, selling it however they’d like and reaping the full reward.
  • The platform bans real-world prostitution, as well as extreme or illegal content, and requires everyone who shows up on camera to verify they’re 18 or older by sending in a video selfie showing them holding a government-issued ID.
  • OnlyFans operates as a neutral marketplace, with no ads, trending topics or recommendation algorithms, placing few limitations on what creators can sell but also making it necessary for them to market themselves or fade away.
  • After sending other creators’ agents their money over PayPal, Adams’s ad workers send suggestions over the messaging app Telegram on how Bryce should be marketed, depending on the clientele. OnlyFans models whose fans tend to prefer the “girlfriend experience,” for instance, are told to talk up her authenticity: “Bryce is a real, fit girl who wants to get to know you
  • Like most platforms, OnlyFans suffers from a problem of incredible pay inequality, with the bulk of the profits concentrated in the bank accounts of the lucky few.
  • the top 1 percent of accounts made 33 percent of the money, and that most accounts took home less than $145 a month
  • Watching their partner have sex with someone else sometimes sparked what they called “classic little jealousy issues,” which Adams said they resolved with “more communication, more growing up.” The money was just too good. And over time, they adopted a self-affirming ideology that framed everything as just business. Things that were tough to do but got easier with practice, like shooting a sex scene, they called, in gym terms, “reps.” Things one may not want to do at first, but require some mental work to approach, became “self-limiting beliefs.”
  • They started hiring workers through friends and family, and what was once just Adams became a team effort, in which everyone was expected to workshop caption and video ideas. The group evaluated content under what Brian, who is 31, called a “triangulation method” that factored their comfort level with a piece of content alongside its engagement potential and “brand match.” Bryce the person gave way to Bryce the brand, a commercialized persona drafted by committee and refined for maximum marketability.
  • One of the operation’s most subtly critical components is a piece of software known as “the Tool,” which they developed and maintain in-house. The Tool scrapes and compiles every “like” and view on all of Adams’s social network accounts, every OnlyFans “fan action” and transaction, and every text, sext and chat message — more than 20 million lines of text so far.
  • It houses reams of customer data and a library of preset messages that Adams and her chatters can send to fans, helping to automate their reactions and flirtations — “an 80 percent template for a personalized response,” she said.
  • And it’s linked to a searchable database, in which hundreds of sex scenes are described in detail — by price, total sales, participants and general theme — and given a unique “stock keeping unit,” or SKU, much like the scannable codes on a grocery store shelf. If a fan says they like a certain sexual scenario, a team member can instantly surface any relevant scenes for an easy upsell. “Classic inventory chain,” Adams said.
  • The systemized database is especially handy for the young women of Adams’s chat team, known as the “girlfriends,” who work at a bench of laptops in the gym’s upper loft. The Tool helped “supercharge her messaging, which ended up, like, 3X-ing her output,” Brian said, meaning it tripled.
  • Keeping men talking is especially important because the chat window is where Adams’s team sends out their mass-message sales promotions, and the girlfriends never really know what to expect. One girlfriend said she’s had as many as four different sexting sessions going at once.
  • Adams employs a small team that helps her pay other OnlyFans creators to give away codes fans can use for free short-term trials. The team tracks redemption rates and promotional effectiveness in a voluminous spreadsheet, looking for guys who double up on discount codes, known as “stackers,” as well as bad bets and outright fraud.
  • Many OnlyFans creators don’t offer anything explicit, and the site has pushed to spotlight its stable of chefs, comedians and mountain bikers on a streaming channel, OFTV. But erotic content on the platform is inescapable; even some outwardly conventional creators shed their clothes behind the paywall
  • Creators with a more hardcore fan base, meanwhile, are told to cut to the chase: “300+ sex tapes & counting”; “Bryce doesn’t say no, she’s the most wild, authentic girl you will ever find.”
  • The $18 an hour she makes on the ad team, however, is increasingly dwarfed by the money Leigh makes from her personal OnlyFans account, where she sells sex scenes with her boyfriend for $10 a month. Leigh made $92,000 in gross sales in July, thanks largely to revenue from new fans who found her through Adams or the bikini videos Leigh posts to her 170,000-follower TikTok account
  • “This is a real job. You dedicate your time to it every single day. You’re always learning, you’re always doing new things,” she said. “I’d never thought I’d be good at business, but learning all these business tactics really empowers you. I have my own LLC; I don’t know any other 20-year-old right now that has their own LLC.”
  • The team is meeting all traffic goals, per their internal dashboard, which showed that through the day on a recent Thursday they’d gained 2,221,835 video plays, 19,707 landing-page clicks, 6,372 new OnlyFans subscribers and 9,024 new social-network followers. And to keep in shape, Adams and her boyfriend are abiding by a rigorous daily diet and workout plan
  • They eat the same Chick-fil-A salad at every lunch, track every calorie and pay a gym assistant to record data on every rep and weight of their exercise.
  • But the OnlyFans business is competitive, and it does not always feel to the couple like they’ve done enough. Their new personal challenge, they said, is to go viral on the other platforms as often as possible, largely through jokey TikTok clips and bikini videos that don’t give away too much.
  • the host told creators this sales-funnel technique was key to helping build the “cult of you”: “Someone’s fascination will become infatuation, which will make you a lot of money.”
  • Adams’s company has worked to reverse engineer the often-inscrutable art of virality, and Brian now estimates Adams makes about $5,000 in revenue for every million short-form video views she gets on TikTok.
  • Her team has begun ranking each platform by the amount of money they expect they can get from each viewer there, a metric they call “fan lifetime value.” (Subscribers who click through to her from Facebook tend to spend the most, the data show. Facebook declined to comment.)
  • The younger workers said they see the couple as mentors, and the two are constantly reminding them that the job of a creator is not a “lottery ticket” and requires a persistent grind. Whenever one complains about their lack of engagement, Brian said he responds, “When’s the last time you posted 60 different videos, 60 days in a row, on your Instagram Reels?”
  • But some have taken to it quite naturally. Rayna Rose, 19, was working last year at a hair salon, sweeping floors for $12 an hour, when an old high school classmate who worked with Adams asked whether she wanted to try OnlyFans and make $500 a video.
  • Rose started making videos and working as a chatter for $18 an hour but recently renegotiated her contract with Adams to focus more on her personal OnlyFans account, where she has nearly 30,000 fans, many of whom pay $10 a month.
  • One recent evening this summer, Adams was in the farm’s gym when her boyfriend told her he was headed to their guest room to record a collab with Rose, who was wearing a blue bikini top and braided pigtails.
  • “Go have fun,” Adams told them as they walked away. “Make good content.” The 15-minute video has so far sold more than 1,400 copies and accounted for more than $30,000 in sales.
  • Rose said she has lost friends due to her “lifestyle,” with one messaging her recently, “Can you imagine how successful you would be if you studied regularly and spent your time wisely?”
  • The message stung but, in Rose’s eyes, they didn’t understand her at all. She feels, for the first time, like she has a sense of purpose: She wants to be a full-time influencer. She expects to clear $200,000 in earnings this year and is now planning to move out of her parents’ house.
  • “I had no idea what I wanted to do with my life. And now I know,” she said. “I want to be big. I want to be, like, mainstream.”
Javier E

With a Big If, Science Panel Finds Deep Cuts Possible in U.S. Vehicle Emissions and Oil... - 0 views

  • deep cuts in oil use and emissions of greenhouse gases from cars and light trucks are possible in the United States by 2050, but only with a mix of diverse and intensified research and policies far stronger than those pursued so far by the Obama administration.
  • by the year 2050, the U.S. may be able to reduce petroleum consumption and greenhouse gas emissions by 80 percent for light-duty vehicles -- cars and small trucks -- via a combination of more efficient vehicles; the use of alternative fuels like biofuels, electricity, and hydrogen; and strong government policies to overcome high costs and influence consumer choices.
  • "In addition, alternative fuels to petroleum must be readily available, cost-effective and produced with low emissions of greenhouse gases.  Such a transition will be costly and require several decades.
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  •  The committee's model calculations, while exploratory and highly uncertain, indicate that the benefits of making the transition, i.e. energy cost savings, improved vehicle technologies, and reductions in petroleum use and greenhouse gas emissions, exceed the additional costs of the transition over and above what the market is willing to do voluntarily."
  • Improving the efficiency of conventional vehicles is, up to a point, the most economical and easiest-to-implement approach to saving fuel and lowering emissions, the report says.  This approach includes reducing work the engine must perform -- reducing vehicle weight, aerodynamic resistance, rolling resistance, and accessories -- plus improving the efficiency of the internal combustion engine powertrain.
  • Improved efficiency alone will not meet the 2050 goals, however.  The average fuel economy of vehicles on the road would have to exceed 180 mpg, which, the report says, is extremely unlikely with current technologies.  Therefore, the study committee also considered other alternatives for vehicles and fuels, including:
  • Although driving costs per mile will be lower, especially for vehicles powered by natural gas or electricity, the high initial purchase cost is likely to be a significant barrier to widespread consumer acceptance
  • Wide consumer acceptance is essential, however, and large numbers of alternative vehicles must be purchased long before 2050 if the on-road fleet is to meet desired performance goals.  Strong policies and technology advances are critical in overcoming this challenge.
  • While corn-grain ethanol and biodiesel are the only biofuels to have been produced in commercial quantities in the U.S. to date, the study committee found much greater potential in biofuels made from lignocellulosic biomass -- which includes crop residues like wheat straw, switchgrass, whole trees, and wood waste.  This "drop-in" fuel is designed to be a direct replacement for gasoline and could lead to large reductions in both petroleum use and greenhouse gas emissions; it can also be introduced without major changes in fuel delivery infrastructure or vehicles.  The report finds that sufficient lignocellulosic biomass could be produced by 2050 to meet the goal of an 80 percent reduction in petroleum use when combined with highly efficient vehicles
Javier E

Lessons of the Great Recession: How the Safety Net Performed - NYTimes.com - 0 views

  • it’s none too soon to begin asking the question: what have we learned about economic policy in this crash that should inform our thinking for the next downturn? 
  • Let’s start with the safety net since it’s a fixture of advanced economies and serves the critical function of catching (or not) the most economically vulnerable when the market fails
  • For many of today’s conservatives, the increased use of a safety-net program is proof that there’s something wrong with the user, not the underlying economy.
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  • But while people do abuse safety nets — and not just poor people (think bank bailouts and special tax treatment of multinational corporations) — I want to see receipt of unemployment insurance, the rolls of the Supplemental Nutrition Assistance Program (food stamps), and so on go up in recessions.  In fact, their failure to do so would be a sign that something’s very wrong, like an air bag that failed to deploy in a crash.
  • There are two reasons that T.A.N.F. was so unresponsive.  First, welfare reform in the mid-1990s significantly increased its work requirements
  • Second, T.A.N.F. was “block granted,” meaning states receive a fixed amount that is largely insensitive to recessions
  • this figure provides strong evidence of the effectiveness of the American safety net in the worst recession since the Depression.
  • The official rate for children goes up over the recession, from 18 percent to 22 percent, but once you include the full force of safety-net (and Recovery Act) measures that kicked in, it holds steady at about 15 percent.
  • it is a fixture of conservative policy on poverty to apply this same block grant strategy to food stamps and Medicaid.  The numbers and the chart above show this to be a recipe for inelastic response to recession, or, more plainly, a great way to cut some big holes in the safety net.
  • because the recession is receding, shouldn’t the SNAP rolls be coming down as well?
  • SNAP rolls remain elevated because their function remains critical in what’s still a tough job market for low-income households. 
  • the fact is that markets fail, and when they do, income and food supports must rise to protect the most economically vulnerable families.
  • let’s get this straight: the poor and their advocates were not the ones who tanked the economy.  Nor should they be on the defensive when the safety net expands to offset some of the damage.  The right question at such times is thus not why the SNAP rolls are so high.  It’s whether SNAP, unemployment insurance, T.A.N.F. et al are expanding adequately to meet the needs of the poor.
Javier E

Fact Check: This Pizzeria Is Not a Child-Trafficking Site - The New York Times - 0 views

  • images, pilfered from the restaurant’s social media pages and the personal accounts of friends who had “liked” Comet Ping Pong online. Those photos have been used across dozens of websites. Parents, who declined to talk publicly for fear of retribution, have hired lawyers to get the photos removed.
  • Musicians who have performed at Comet Ping Pong have been pulled in, too. Amanda Kleinman, whose band, Heavy Breathing, has performed there several times, deleted her Twitter account after the abusive comments became overwhelming. Similar comments have flooded her YouTube music clips
  • “We are at a dangerous place in American culture where a good percentage of people aren’t distinguishing what is a real news source based on real reporting and fact-checking and only reinforcing pre-existing ideas they have,” Ms. Kleinman said.
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  • The frustration has been compounded by the lack of recourse for Mr. Alefantis, his friends and employees. Yelp blocked the comments sections of Comet Ping Pong’s review page after reports of abusive comments and fake news in reviews. YouTube said it prohibits threats, harassment and hate speech and has tools for flagging violations and filing complaints for the site to take further action, but has largely not blocked comments on these videos. Twitter declined to comment, and Facebook did not have any further comment.
  • After employees and Mr. Alefantis complained to Reddit about how Comet Ping Pong was being targeted on the site, the #pizzagate discussion thread posted a warning that revealing personal information about individuals was prohibited.“We know that we have more work to do and we take our responsibility to address online abuse seriously,” Reddit said in a statement
davisem

Trump's initial approval ratings are setting new, unhappy records - 0 views

  •  
    It admittedly seems odd to ask Americans to evaluate the performance of a new president a few days after he took office. It's like getting a performance review on your first week at a new job: Sure, you can do it, but it's probably not going to really lay good groundwork forhttp://pbump.net/post/pop/index.php what to expect.
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