June 10, 2013
Celebrity Centres are Church of Scientology facilities that are open to the public but serve mostly artists and celebrities and other ‘professionals, leaders and promising new-comers in the fields of the arts, sports, management and government,’ as ‘those are the people who are sculpting the present into the future.’ The Celebrity Centre International was established in Hollywood, California, in 1969 by Yvonne Gillham, a Sea Org member who worked with L. Ron Hubbard. Since then, other centres have been established in New York, London, Paris and a number of other cities across the world.
The Church often quotes L. Ron Hubbard saying that, ‘A culture is only as great as its dreams and its dreams are dreamed by artists,’ citing this as the reason that Celebrity Centres were established — to create a good environment for ‘artists.’ Critics of Scientology point to Hubbard’s launch of ‘Project Celebrity’ in 1955 to recruit celebrities into the church, and that the centres were established as an extension of this initial purpose. The church denies the existence of policy to actively recruit high-ranking celebrities.
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June 6, 2013
In economics and decision theory, loss aversion refers to people’s tendency to strongly prefer avoiding losses to acquiring gains. Most studies suggest that losses are twice as powerful, psychologically, as gains. The concept was first demonstrated by psychologists Amos Tversky and Daniel Kahneman. John List, Chairman of the University of Chicagos’ department of economics has said: ‘It’s a deeply ingrained behavioral trait. .. that all human beings have — this underlying phenomenon that ‘I really, really dislike losses, and I will do all I can to avoid losing something.’
Loss aversion leads to risk aversion when people evaluate an outcome comprising similar gains and losses; since people prefer avoiding losses to making gains. Loss aversion may also explain sunk cost effects, where people justify increased investment in a decision, based on the cumulative prior investment, despite new evidence suggesting that the cost, starting today, of continuing the decision outweighs the expected benefit.
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June 6, 2013
In behavioral economics, the endowment effect (also known as divestiture aversion) is the hypothesis that a person’s willingness to accept (WTA) compensation for a good is greater than their willingness to pay (WTP) for it once their property right to it has been established. People will pay more to retain something they own than to obtain something owned by someone else—even when there is no cause for attachment, or even if the item was only obtained minutes ago. This is due to the fact that once you own the item, foregoing it feels like a loss, and humans are loss-averse.
The endowment effect contradicts the Coase theorem (a theory of economic efficiency), and was described as inconsistent with standard economic theory which asserts that a person’s willingness to pay (WTP) for a good should be equal to their willingness to accept (WTA) compensation to be deprived of the good, a hypothesis which underlies consumer theory and indifference curves.
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June 6, 2013
HeadOn is the brand name of a homeopathic product claimed to relieve headaches. It achieved widespread notoriety in 2006 as a result of a repetitive commercial, consisting only of the tagline ‘HeadOn. Apply directly to the forehead,’ stated three times in succession, accompanied by a video of a model using the product without ever directly stating the product’s purpose.
Focus groups recalled the ads much more than with any other method, although many people considered the ads annoying. Manufacturer Miralus Healthcare decided not to include any factual claims about the product in the spots after the National Advertising Division of the Better Business Bureau objected to the claim that HeadOn provided ‘fast, safe, effective’ headache relief made in an earlier spot.
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June 5, 2013
‘Juicy‘ is a single by American hip hop artist The Notorious B.I.G. and his solo debut single from his 1994 debut album ‘Ready to Die.’ It was produced by Poke of Trackmasters & Sean ‘Puffy’ Combs. It is a sample of Mtume’s ‘Juicy Fruit,’ but samples from the song’s ‘Fruity Instrumental’ mix, and has an alternative chorus sung by girl group Total.
The song is considered one of the greatest hip hop songs of all time. After the death of The Notorious B.I.G. in 1997, a tribute version of this song was made in his honor by the R&B musical group Next with new lyrics.
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June 5, 2013
‘Born Rich‘ is a 2003 documentary film about growing up in the world’s richest families. It was created by Jamie Johnson, an heir to the Johnson & Johnson fortune. It consists primarily of Johnson interviewing his friends and peers about living life free of financial constraints. These interviews are offset by Johnson’s exploration of his own experience and family.
Interviewees include: Georgina Bloomberg, Stephanie Ercklentz (born to New York lawyer Enno W. Ercklentz Jr.), Christina Floyd (born to golfer Raymond Floyd), Juliet Hartford (born to A&P heir Huntington Hartford), Josiah Cheston Hornblower (born into Vanderbilt-Whitney lineage), S.I. Newhouse IV, Ivanka Trump, Cody Franchetti (heir to Milliken & Co), and Carlo von Zeitschel (German baron and Italian viscount, great grandson of Kaiser Wilhelm). Luke Weil (born to Scientific Games CEO A. Lorne Weil) sued unsuccessfully to remove his segments from the film.
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June 4, 2013
Patent monetization refers to the generation of revenue or the attempt to generate revenue by a person or company by selling or licensing the patents it owns.
The so-called patent trolls—which is a pejorative term—attempt to generate revenue by buying and enforcing patents against one or more alleged infringers in a manner considered by the target or observers as unduly aggressive or opportunistic, often with no intention to further develop, manufacture or market the patented invention. Other persons or companies, which are not regarded as patent trolls, also try to make money from patents on inventions they develop, manufacture or market.
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June 4, 2013
Nathan Myhrvold (b. 1959), formerly Chief Technology Officer at Microsoft, is co-founder and 40% owner of Intellectual Ventures, a patent portfolio holding company.
Myhrvold, usually with coinventors, holds 17 U.S. patents assigned to Microsoft and has applied for more than 500 patents. In addition, Myhrvold and coinventors hold 115 U.S. patents assigned mostly to The Invention Science Fund I, LLC.
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June 4, 2013
Intellectual Ventures is a private company notable for being one of the top-five owners of U.S. patents, as of 2011. Its business model has a focus on buying patents and aggregating them into a large patent portfolio and licensing this ‘IV’ portfolio to companies.
Publicly, it states that a major goal is to assist small inventors against corporations. In practice, the vast majority of IV’s revenue comes from buying patents, aggregating them into a large portfolio and licensing this portfolio to other companies or filing lawsuits for infringement of patents, a controversial practice known as patent trolling.
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May 29, 2013
Cosmetic surgery of female genitalia, known as elective genitoplasty, has become pejoratively known as ‘designer vagina.’ Labiaplasty [ley-bee-uh-plas-tee] is a plastic surgery procedure for altering the labia minora (inner labia) and the labia majora (outer labia), the folds of skin surrounding the human vulva (external female genitals).
There are two main categories of women seeking cosmetic genital surgery: those with congenital conditions such as intersex, and those with no underlying condition. The size, color, and shape of labia vary significantly, and may change as a result of childbirth, aging, and other events. In a male-to-female sexual reassignment vaginoplasty is used for the creation of a neovagina, and labiaplasty creates labia where once there were none.
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May 25, 2013
Toy2R (‘Toy to Raymond’) is a designer toy company based in Hong Kong that was founded by Raymond Choy in 1995. Choy spent 10 years as an employee of an American footwear company. After much research and planning, he opened a toy store in 1995. Four years later, Choy observed a trend in collectible toys, now known as designer toys, specifically the ‘urban vinyl’ movement of toy design. He decided to put all his funds into the development of a vinyl figure, intended more as art than as a plaything.
He called this figure the ‘Toyer’; the design, which resembles a simplified human form with a head that resembles a cartoon skull, became his first trademark. The commercial response to this figure led to support from artists and designers all over the world, and enabled his next endeavor, the ‘Qee’ figure.
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May 24, 2013
Reaganomics or ‘voodoo economics’ is a negative term which critics use to criticize supply-side economics. The term originated from George H.W. Bush, who criticized Ronald Reagan’s plan for the economy during the Republican presidential primaries in 1980. Reagan’s attitude towards the Federal Government Budget was to drastically reduce taxes – primarily for the wealthy – while greatly increasing spending – primarily for the military. Bush Sr. and others recognized that this could not possibly produce a balanced budget, and would result in great national debt.
The four pillars of Reagan’s economic policy were to reduce the growth of government spending, reduce the federal income tax and capital gains tax, reduce government regulation, and control the money supply in order to reduce inflation.
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