Archive for ‘Money’

May 19, 2019

Virgil Abloh

Off-White by Elizaveta Porodina

Virgil Abloh (b. 1980) is an American fashion designer, entrepreneur and DJ who has been the artistic director of Louis Vuitton’s men’s wear collection since March 2018. Apart from his work at Louis Vuitton, Abloh serves as the chief executive officer of the Milan-based label Off-White, a fashion house he founded in 2013.

He entered the world of fashion with an internship at Fendi in 2009 alongside rapper Kanye West. The two then began an artistic collaboration that would launch Abloh’s career with the founding Off-White.

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May 1, 2019

Monkey Selfie

Celebes crested macaque

The monkey selfie copyright dispute is a series of disputes about the copyright status of selfies taken by a group of macaques using equipment belonging to the British nature photographer David Slater.

The disputes involve Wikimedia Commons and the blog ‘Techdirt,’ which have hosted the images following their publication in newspapers in July 2011 over Slater’s objections, and People for the Ethical Treatment of Animals (PETA), who have argued that the macaque should be assigned the copyright.

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April 28, 2019

Fannie Mae

Subprime

The Big Short

The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company.

Founded in 1938 during the Great Depression as part of the New Deal, the corporation’s purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or ‘thrifts’).

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April 24, 2019

Vidalia Onion

Vidalia Georgia

A Vidalia onion is one of several varieties of sweet onion grown in a production area defined by law of the U.S. state of Georgia since 1986 and the United States Code of Federal Regulations (CFR). Varieties include the hybrid Yellow Granex, varieties of Granex parentage, and similar varieties as recommended by the Vidalia Onion Committee and approved by the U.S. Secretary of Agriculture.

The onions are named Vidalia because they were historically grown in the town of Vidalia, Georgia. The cultivation of Vidalia onions started in the early 1930s. The different varieties are unusually sweet compared to other onions due to the low amount of sulfur in the soil in which Vidalia onions are grown. The Vidalia onion was named Georgia’s official state vegetable in 1990.

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April 1, 2019

Smart Contract

Nick Szabo

smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.

Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both. The aim of smart contracts is to provide security that is superior to traditional contract law and to reduce other transaction costs associated with contracting. Various cryptocurrencies have implemented types of smart contracts.

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January 28, 2019

Twin Films

A Bug's Life

Twin films are films with the same, or very similar, plot produced or released at the same time by two different film studios. The phenomenon can result from two or more production companies investing in similar scripts around the same time, resulting in a race to distribute the films to audiences.

Some attribute twin films to industrial espionage, the movement of staff between studios, or that the same screenplays are sent to several film studios before being accepted. Another possible explanation is if the films deal with topical issues, such as volcanic eruptions, reality television, terrorist attacks or significant anniversaries, resulting in multiple discovery of the concept.

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January 17, 2019

The Market for Lemons

lemon law

The Market for Lemons: Quality Uncertainty and the Market Mechanism is a well-known 1970 paper by American economist George Akerlof which examines how the quality of goods traded in a market can degrade in the presence of information asymmetry between buyers and sellers, leaving only ‘lemons’ behind (cars or other products that are found to be defective only after they have been bought).

Akerlof’s paper shows how prices can determine the quality of goods traded on the market. Low prices drive away sellers of high-quality goods, leaving only lemons behind. In 2001, Akerlof, along with Michael Spence, and Joseph Stiglitz, jointly received the Nobel Memorial Prize in Economic Sciences, for their research on issues related to asymmetric information.

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January 8, 2019

Impossible Foods

heme

Impossible Foods Inc. is a company that develops plant-based substitutes for meat and dairy products. Headquartered in Redwood City, California, the company aims to give people the taste and nutritional benefits of meat without the negative health and environmental impacts associated with livestock products.

The company researches animal products at the molecular level, then selects specific proteins and nutrients from plants to recreate the experience of meats and dairy products. Its signature product, the Impossible Burger, was launched in 2016.

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December 30, 2018

The Negro Motorist Green Book

The Negro Motorist Green Book was an annual guidebook for African-American roadtrippers. It was originated and published by New York City mailman Victor Hugo Green from 1936 to 1966, during the era of Jim Crow laws, when open and often legally prescribed discrimination against non-whites was widespread.

Although pervasive racial discrimination and poverty limited black car ownership, the emerging African-American middle class bought automobiles as soon as they could, but faced a variety of dangers and inconveniences along the road, from refusal of food and lodging to arbitrary arrest. In response, Green wrote his guide to services and places relatively friendly to African-Americans, eventually expanding its coverage from the New York area to much of North America, as well as founding a travel agency.

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December 18, 2018

Emotional Labor

Smile mask syndrome

Emotional labor is the process of managing feelings and expressions to fulfill the emotional requirements of a job. More specifically, workers are expected to regulate their emotions during interactions with customers, co-workers, and superiors.

This includes analysis and decision making in terms of the expression of emotion, whether actually felt or not, as well as its opposite: the suppression of emotions that are felt but not expressed. As nations move from manufacturing to service-based economies, more workers in a variety of occupational fields are expected to manage their emotions according to employer demands.

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December 12, 2018

Mole People

Mole people (also known as ‘tunnel people’ or ‘tunnel dwellers’) are homeless people living under large cities in abandoned subway, railroad, flood, sewage tunnels, and heating shafts. The term may also refer to the speculative fiction trope of an entirely subterranean society.

While it is generally accepted that some homeless people in large cities make use of abandoned underground structures for shelter, urban legends persist that make stronger assertions. These include claims that ‘mole people’ have formed small, ordered societies similar to tribes, with members numbering up to the hundreds, living underground year-round. It has also been suggested that they have developed their own cultural traits and even have electricity by illegal hook-up. The subject has attracted some attention from sociologists but is highly controversial due to a lack of evidence.

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November 7, 2018

Tube Man

Peter Minshall

tube man, also known as a ‘skydancer,’ ‘air dancer,’ and originally called the ‘Tall Boy,’ is an inflatable moving advertising product comprising a long fabric tube (with two or more outlets), which is attached to and powered by an electrical fan. As the electrical fan blows air through the fabric tube, this causes the tube to move about in a dynamic dancing or flailing motion.

The design of the tube man was invented by Peter Minshall, an artist from Trinidad and Tobago, along with a team that included Israeli artist Doron Gazit, for the 1996 Summer Olympics. Gazit eventually patented the concept of an inflatable, dancing human-shaped balloon and licensed the patent to various companies that manufacture and sell the devices.

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