From today, I’m making some small changes in this blog, basically to tidy things up. From now on all posts written on the same day will be included on a single page, with Quotes and the Linkblog at the end, and a permalink for each element. In practice it should make for easier reading, and it might also make it easier to create an email version for readers who prefer getting it in their inboxes.
If you have been, thank you for reading.
Dave Winer writes:
A family story. My mother was a pure capitalist. She believed in hard work, being productive. She felt threatened by evidence of idleness. I drove her crazy. Even as a kid I would sometimes just sit in a chair in the living room of our apartment in Jackson Heights and think. Once she saw me sitting, lights off, no TV, no book, appearing to be doing nothing, and she lost her shit right there. Anyway, many years later, when I sold my company and then it went public, after years of begging me to get a job, her stock in the company was all of a sudden worth a lot of money. It was the only time I remember getting her unqualified approval. She boasted, even when I could hear, that I was profitable. In other words, the money and time she put into raising me made her money.
That rings a bell. I’ve been a journalist and an academic all my working life. (My Observer Editor-in-Chief, Conor Cruise O’Brien, who straddled the same two occupations with great distinction, once said to me that he and I “had a foot in both graves”.) My mother, who hoped I would become an engineer with the national Electricity Supply Board, went to her grave believing that I never had held a proper job.
So Harry and Meghan are spinning themselves off from The Family Firm. The Economist provides the stock market analysis
Harry and Meghan’s move was announced without consultation with the group’s management, but may have been encouraged by developments within it. The stock price has tumbled recently, as a result of missteps by Prince Andrew, who has now been fired. Prince Charles—who will take over the top job in the not-too-distant future—has hinted that he plans to cut costs and slim down its operations as part of a broader restructuring. Rather than wait for that shake-up, Harry, who knew he was unlikely ever to get the top job, has now decided to cut loose.
This separation has the advantage of strategic clarity, and is likely to unlock value, given that the Harry and Meghan brand was widely perceived to be undervalued. The new entity will now have more freedom to diverge from the positioning of the parent group and to tap overseas markets. The couple say they plan to divide their time between Britain and North America.
My friend Quentin is one of the most intrepid people I know. The other night he camped by Loch Ness. He didn’t see any monsters, but did come away with a lovely night-time photograph
I’ve always been ambivalent about Christmas. Because my parents were’t very good at celebrations, my childhood experience of the festival was often one of disappointment. When I met Sue, my late wife, I had to change my views because she really loved Christmas and took great delight in every part of it, and our children learned that from her. But I remain acutely aware of the stresses it puts on people who are poor, unhappy or depressed, when the contrast between their own conditions and the glitzy, showy, consumer-driven atmosphere all around is painful. So it was sweet to find this message on one of the main pedestrian bridges across the Cam this Christmas.
Tyler Cowen, the economist, is one of the most interesting public intellectuals around. His blog is a marvel (and a daily visit for me). His capacity to absorb ideas is remarkable. And he is fearsomely productive. So how, one wonders, does he do it?
This week he shed some light on how he works:
I write every day. I also write to relax.
Much of my writing time is devoted to laying out points of view which are not my own. I recommend this for most of you.
I do serious reading every day.
After a talk, Q&A session, podcast — whatever — I review what I thought were my weaker answers or interventions and think about how I could improve them. I rehearse in my mind what I should have said. Larry Summers does something similar.
I spent an enormous amount of time and energy trying to crack cultural codes. I view this as a comparative advantage, and one which few other people in my fields are trying to replicate. For one thing, it makes me useful in a wide variety of situations where I have little background knowledge. This also helps me invest in skills which will age relatively well, as I age. For me, this is perhaps the most importantly novel item on this list.
I listen often to highly complex music, partly because I enjoy it but also in the (silly?) hope that it will forestall mental laziness.
I have regular interactions with very smart people who will challenge me and be very willing to disagree, including “GMU lunch.”
Every day I ask myself “what did I learn today?”, a question I picked up from Amihai Glazer. I feel bad if I don’t have a clear answer, while recognizing the days without a clear answer are often the days where I am learning the most (at least in the equilibrium where I am asking myself this question).
One factor behind my choice of friends is what kind of approbational sway they will exercise over me. You should want to hang around people who are good influences, including on your mental abilities. Peer effects really are quite strong.
I watch very little television. And no drugs and no alcohol should go without saying.
Footnote ‘GMU’ = George Mason University, where he works.
Well, what do you know? the best-selling book over the last decade was E.L. James’s 50 Shades of Grey, which which sold 15.2 million copies from 2010 through 2019. It was originally self-published as a Kindle ebook and print-on-demand publication in June 2011; the publishing rights were acquired by Vintage Books in March 2012. Smart move. I wonder what they paid for them.
Source: New York Times
Boeing’s 737MAX remains grounded (rightly) as the company struggles to overcome the design flaw that caused two crashes that killed everyone on board. In the meantime, Boeing has been surveying airline passengers across the world to assess their thoughts about flying in the MAX once it gets certification. The news is not good, according to this report in the New York Times: people are nervous about flying in the plane. In order to get ahead of the problem, Boeing has been preparing draft briefing materials for airline staff giving guidance on how to soothe and reassure nervous passengers. Above is a draft of the crib-sheet that’s been obtained by the Times.
As you’d expect, it’s an exercise in consumer manipulation.
This has a personal dimension for me. The place to which I most often fly is Ireland. And the only way to get there from Stansted, my local airport, is via RyanAir. But RyanAir plans to replace its existing fleet of Boeing aircraft with 737MAXs. So will I trust the Federal Aviation Administration enough to continue flying RyanAir? Or will I have to plump for much less convenient alternatives?
It’s not Christmas in our house until this guy has been taken out of his box and suspended in flight mode.
What’s weird about a relentlessly ageing society is its equally relentless determination to avoid talking about the realities of ageing and death. Suddenly it’s ‘ageist’ to refer to somebody as “old”. They’re just “older” — which is idiotic, when you think about it: everybody is, by definition, older than somebody else. And as for the slogan that “70 is the new 50″… (Which, as an interesting NYT piece puts it, is “a rosy falsehood contradicted by any serious study of the age curve for major diseases”. For people older than 85, for example, the risk of developing Alzheimer’s is 14 times higher than for those ages 65 to 69.)
And, as the piece points out, the current decline in birth rates in countries like the US means that
there will be many fewer young and middle-aged people to care for the frailest of the old, whose death rate has not increased in recent years. The population of the prime caregiving age group, from 45 to 64, is expected to increase by only 1 percent before 2030, while the population over 80 will increase by 79 percent.
Our inability to think about — let alone plan for — the future is obviously a cultural thing (and is different in non-Western societies). But I wonder how much of it is also a by-product of the way Western democracies are now driven by five-year electoral cycles. No politician nowadays seems capable of long-term thinking.
And then there is the strange fact that five of the candidates for President — Joe Biden, Michael Bloomberg, Bernie Sanders, Donald Trump and Elizabeth Warren — are septuagenarians.
[Full disclosure: this blogger is over 70 and can testify that it is not the new 50! Nor is he running for president of anything.]