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0e61251362bddeec5a0385d7d98b8e15 | https://www.forbes.com/sites/jrose/2019/03/28/bank-alternatives-for-savings-accounts/?sh=5406c8973dac | 7 Options Better Than Your Bank That Will Make More Money | 7 Options Better Than Your Bank That Will Make More Money
You probably know interest rates are on the rise. That's certainly true if you're looking to borrow money.
But if you're stashing it at your local bank, you probably haven't seen any increase in your return.
Sad to say, most banks are continuing to pay interest on savings that's some small fraction of 1%.
Bank account alternatives for your money Getty
How small? According to the FDIC, the recent averages are 0.09% for savings accounts, and 0.16% on money markets. With the inflation rate just north of 2%, you're losing money every day you have it sitting in the bank!
So maybe it's time to fire your bank, and find someplace else to put your money. These seven options will help you earn a lot more.
1. Online Savings
A few years ago no one would have considered this option. Online banks would have been considered too risky. Also, today most banks offer online banking. So what makes online banks different?
Because they operate strictly online, they don't have branches all over the country, nor the overhead costs and payrolls of brick-and-mortar banks. With lower operating expenses, they’re able to pay much higher interest rates on deposits. And now that they've been around for a few years, online banks are becoming much more accepted by the public.
Why should you hold your money in an online bank? Because rates aren't just higher than local banks, they’re much higher.
For example, Ally Bank, CIT Bank and Synchrony Bank all currently offer their online high-yield savings accounts paying rates of 2% or more.
And even though online banks operate entirely on the Internet, they’re still completely liquid. You can move money in and out of them, to and from other banks, and even access your funds at a network ATM.
Do a bit of a background check on any online bank you're considering moving your money to. Find out how long the bank has been around, and make sure they have FDIC coverage.
You can certainly keep your local bank for checking and loans, but you'll earn a lot more money by moving at least most of your savings to an online bank. And if you want to tie up your money for a little bit longer to earn more interest, check out the rates online banks offer on certificates of deposit (CDs). They’re also much higher than what your local bank is paying.
2. US Treasury Securities
Not only do these securities pay a lot more in interest than local banks, but they’re considered the safest investments on the planet. US Treasury securities represent debt issued by the US government, and both the principal and interest are fully guaranteed.
There are different kinds of US Treasury securities, that depend mostly on the term of the instrument. For example, securities with maturities between two years and 10 years are considered Treasury notes, while maturities of 20 and 30 years are called Treasury bonds.
But you'll be mostly interested in Treasury bills. These are short-term securities, ranging from one month to one year. They’re not quite as liquid as a savings account or money market at your local bank, but they’re very short term in nature, and pay a lot more in interest. And if need be, you can sell them before their maturity dates.
Recent yields on Treasury bills range between 2.36% for one month, to 2.70% for one year. And in addition to high yields, Treasury securities come with a bonus feature: the interest they pay is exempt from state income tax.
You can get slightly higher rates on longer term securities. But the extra interest isn’t worth tying up your money for anywhere from two to 30 years.
You can buy, hold and sell Treasury securities through Treasury Direct.
3. High Dividend Stocks
Here we're getting into a way to invest your money for higher yields that does involve risk. Even though they pay high dividends, high dividend stocks can still fall in value. You won't want to hold emergency fund money in these stocks. But you might put a certain amount of your savings into them to increase your overall savings yield.
For example, high dividend stocks often yield 3% to 4%, and some pay a lot more. There's even a group of elite high dividend stocks referred to as Dividend Aristocrats.
The criteria for a stock to be a Dividend Aristocrat includes:
Be in the S&P 500 Meet certain minimum size and liquidity requirements Have at least 25 years of consecutive dividend increases
The last point is particularly important. While it is true even high dividend yield stocks can lose value, they also have the potential to appreciate in value. And some of the stocks with the best long-term appreciation potential are those that have a history of consistently raising their dividends. That being the case, not only will you get a high dividend yield, but you also have the potential for the stock to increase in value over time.
You can invest in high dividend stocks on popular discount brokerage platforms, like Ally Invest, E*TRADE, Charles Schwab and Fidelity. You can even trade stocks commission-free on a site called Robinood.
4. Bonds
Bonds are longer term securities that pay higher interest than savings accounts. But it's important to understand bonds aren't completely safe either. Much like stocks, they can fluctuate in value.
That's why if you're going to own bonds, you're better off avoiding individual issues. The better way is to invest in bond funds through exchange traded funds (ETFs) that are tied to indexes. You'll get a portfolio of professionally managed bonds, which greatly lowers the risk of any single bond issue defaulting.
There are two types of bond funds I like to focus on, high yield bonds and municipal bonds.
Rates on corporate bonds haven't been great in recent years. But high yield bond funds hold portfolios of issues that pay higher yields, due to the issuing companies being considered higher risk. But they can provide high returns on short term investments.
For example, the iShares iBoxx $ High Yield Corporate Bond ETF has paid a yield of 5.35% over the past 12 months.
Municipal bonds are issued by states and municipalities. They pay lower interest rates than high yield bonds, But the interest earned is tax-free for federal tax purposes. And if you live in the state where the bonds are issued, the interest will also be tax free from your state income tax.
Once again, the best way to own municipal bonds is through an ETF. For example, iShares National Muni Bond ETF paid 2.46% in tax-free interest in the past 12 months.
Just as is the case with high dividend stocks, you won't want to hold your emergency fund in bonds. But they can make an excellent and relatively safe investment for longer term savings.
5. Blended Portfolio
This is a more innovative strategy for getting a higher return on your savings. You can create a blended portfolio of stocks and bonds, but mostly bonds. The idea is to take advantage of the relative safety of bonds, while mixing in the higher yields provided by stocks.
For example, you might create a portfolio that's 80% bonds and 20% stocks. Or even 75% bonds and 25% stocks if you want to be a little bit more aggressive.
This portfolio is more risky than CDs or Treasury securities, but it does have the potential do provide higher returns. Not only will you get the interest income on the bond portion, but you can also take advantage of capital appreciation on the stocks. It'll raise your overall return at least a little bit above what you would get on interest only investments.
This isn't necessarily a complicated process either. There are automated investment platforms, called robo-advisors, that can build such a portfolio for you. Popular robo-advisors include Betterment and Wealthfront.
For a very small annual fee (0.25% of your portfolio) they’ll create and fully manage your portfolio for you.
Robo-advisors normally evaluate your investor profile based on your investment goals, time horizon, and risk tolerance. You can set a very high bond allocation by entering a short time horizon. For example, if that horizon is three years, your portfolio will automatically be mostly invested in bonds.
It is possible you could lose some money with this type of portfolio mix. But it won't be nearly as volatile as a portfolio made up primarily of stocks. Once again, it's best for longer term savings and not an emergency fund.
Two popular P2P platforms are Lending Club and Prosper.
One disadvantage to P2P investing is liquidity. Once you buy a note, you're in that investment until it pays out. This is generally between three years and five years. But if you mix your maturities, you'll always have some notes coming due.
Additional Thoughts on Skipping Your Bank
Though virtually all the investments on this list pay much higher returns than local banks, some do require a longer time horizon and involve some degree of risk. The investments that fall into those categories are best suited to longer term savings goals, and not for funds you'll need immediately.
An overall strategy may be to hold one or more of these higher yielding investments along with safer, more liquid ones. For example, you may want to put most of your savings in an online savings account, but a small percentage in high dividend stocks or bonds to raise the overall yield on your savings.
The main point is, you do have options to the 0.0 something percent interest being paid by your local bank.
6. Real Estate Investment Trusts
If you prefer to avoid stocks and bonds, you can also invest in real estate. You can do this through real estate investment trusts, which are commonly known as REITs.
REITs are investment trusts that invest in real estate. They’re sort of like mutual funds for real estate. Most typically, they invest in commercial real estate, like office buildings, retail space, and large apartment complexes. But some work on smaller projects, like property rehabs. Still others track major industry indexes.
The easiest way to diversify across several different REITs is through an ETF. For example, the iShares Core U.S. REIT ETF has a current distribution yield of 10.64%, and invests in more than 160 individual REITs.
Still another way to invest in real estate is through online crowdfunding platforms. This is where you can invest money in either loans or equity positions in particular real estate deals. There are several crowdfunding platforms, including Fundrise, Realty Mogul and Rich Uncles.
Fundrise is particularly interesting because it's open to investors of all financial levels. They buy properties, and you can invest with as little as $500.
Real estate investing in any form isn't very liquid, so it'll be the type of strategy you want to use for money you won't need for at least two or three years.
7. Peer-to-Peer (P2P) Lending
This is a totally unique way of investing in fixed income assets. P2P lending platforms enable you to invest money in loans taken by borrowers. The basic purpose of P2P lending is to remove the banker from the loan arrangement. Instead, you as the investor become the banker. Your investment is in loans made to individual borrowers.
Now that's not nearly as risky as it sounds. You don't actually fund an entire loan to a borrower. Instead, you invest in what are known as “notes”. These are $25 units of a loan. A person who borrows $25,000 from a P2P platform may have his loan funded by up to 1,000 investors – at $25 each. This lowers the risk any investor has in a single loan.
It also allows you to diversify across many different loans. With an investment of just $1,000, you can spread your money across 40 different notes.
What's more, you can control how much risk you take on. You can invest more aggressively, by buying higher risk, higher yield loans, or be more conservative with lower risk, lower yield loans.
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1f87c5e4533638ab1e2cdf65b12ac086 | https://www.forbes.com/sites/jrose/2019/04/15/100k-in-student-loan-debt-4-top-repayment-strategies/ | $100k+ In Student Loan Debt? 4 Top Repayment Strategies. | $100k+ In Student Loan Debt? 4 Top Repayment Strategies.
Most people only expect to borrow $100,000 or more when they take out a mortgage, but a small percentage of student borrowers owe at least that much on their student loans.
Student debt figures from 2018 show that more than 1.2 million borrowers had six-figure student loan balances last year — and that over 520,000 souls owed more than $200,000.
This is only part of the reason student debt has become a $1.5 trillion crisis that only gets worse every year. Even the average borrower graduated school with nearly $30,000 in loans in 2018 according to Student Loan Hero — more than enough money to make a down payment on a house or buy a new car.
How to Handle Six Figures in Student Debt
No matter how you cut it, our student debt situation has become a disaster. But it’s especially bad for borrowers who are struggling to start their adult lives with limited incomes. It can be difficult to work your way into the middle class right out of college as it is, but massive student loans —and their correspondingly large payments — can make even getting by much harder than it needs to be.
Fortunately, there are some steps you can take to minimize the damage of student debt whether you’re still in school or years into your career. I reached out to experts to get their advice, and here’s what they said:
1. Make Payments Before You Graduate
Joe DePaulo, who is CEO and Co-Founder of College Ave Student Loans, says you should consider making payments on your student loans while in school in order to reduce the total amount of your student loan debt and save yourself money over the life of your loan.
“Due to accrued and compounded interest, loans become more expensive as time goes by,” he said. “The faster you chip away at your student loan debt, the less you will owe overall.”
This is especially true for unsubsidized student loans — or loans that actually accrue interest before you begin repayment. By making payments all along, you can help keep your balances at bay.
2. Consider Refinancing Your Student Loans
DePaulo also says that, if you’ve already graduated and find yourself owing more than $100,000 in student loans, you may be in a good position to refinance with a private lender. “Refinancing your student loans can help reduce the amount you owe over the life of the loan, reduce your monthly payment, or in some cases, both,” he said.
Before you pull the trigger, however, you need to consider whether you’ll lose any important consumer protections or benefits, particularly if you’re thinking of refinancing federal student loans with a private lender. Once you refinance federal student loans, you are no longer eligible for important perks and programs like Public Service Loan Forgiveness (PSLF), income-driven repayment plans, deferment, and forbearance.
3. Consider Switching Payment Plans
Speaking of income-driven repayment plans, student loan expert Robert Farrington of The College Investor says they are worth looking into if you have six figures in debt and struggle to keep up with your monthly payments. With income-driven repayment plans like Income-Based Repayment (IBR), Income-Contingent Repayment (ICR), Pay As You Earn (PAYE), and Revised Pay As You Earn (REPAYE), borrowers can pay a percentage of their “discretionary income” for 20-25 years and have their remaining loan balances forgiven in the end.
Also remember that you may be able to switch up your repayment plan without income-driven repayment if you just need a lower monthly payment.
“The number one thing that someone with six figures in student loan debt needs to do is get on a repayment plan that's affordable,” said Farrington.
It might be possible to extend the repayment timeline on your student loans for up to 25 years, thus lowering your monthly payment amount, for example. A graduated repayment plan for your federal student loans could also help you achieve a lower payment early on that slowly increases over the course of 10 to 30 years.
4. Boost Your Income
Borrowers struggling with student debt can also look for ways to earn more. With a side hustle, overtime at work, or any increase in income, they may be able to pay down loans faster without sacrificing goals like homeownership or marriage.
Even an extra $100 toward your student loans each month can help you save over the long haul when you owe six figures, and this is particularly true at the beginning of your loans when so much of your minimum payment amount goes toward interest instead of principal.
How Not to Handle Your Student Loans
No matter which strategy you decide to pursue, DePaulo says you shouldn’t stop making payments on your student loans. Missing payments is the first step to defaulting on your student loans, which can damage your credit score and have a lasting impact on your finances.
If you’re struggling to make your payments, DePaulo suggests contacting your student loan servicer immediately to let them know so you can work together toward a solution.
Also don't expect the problem to go away on its own. Having over $100,000 in student loans is a multi-year commitment, and you can't just wish the situation away. While you can bite the bullet and stick with repayment plan you have, you can also take steps you make your loan experience better, whether that means choosing a different repayment plan or refinancing with a new lender.
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f256ae572acfa6e00b5c0ceb650721b2 | https://www.forbes.com/sites/jrose/2019/06/10/couple-built-online-store-making-over-1-million-per-year-to-spend-more-time-with-family/?sh=527925b651fd | Couple Built Online Store Making Over $1 Million Per Year To Spend More Time With Family | Couple Built Online Store Making Over $1 Million Per Year To Spend More Time With Family
The Chou Family Steve Chou
In 2007, Steve Chou and his wife Jennifer were living a pretty normal life — one where they both got up and went to work whether they wanted to or not. Steve was a Director of Engineering and Jennifer worked as a financial analyst. They both earned six figures in their respective careers, and they both made it work, but they weren’t necessarily happy.
Steve recalls how Jennifer always seemed sad at breakfast each morning — and how she referred to her ball and chain as the “hellhole she called her job.”
But she had to keep going — they both had to — for a simple reason. Finances. Both of them earned sizeable salaries they couldn’t simply give up.
“She kept going because we needed her income,” says Steve.
Building an Online Business from Scratch
But all of that changed in 2007 when Jennifer became pregnant. The pair wanted one of them to be able to stay home with the kids, but they weren’t sure how to make it happen — at least, until they thought back to when they first got married.
Chou recalls how the couple had to search all over the world to find handkerchiefs for their wedding. They searched so far and wide, in fact, that they wound up buying handkerchiefs in bulk from China.
Their initial order was for 300 or more units, but they only needed 5 or 6 for the wedding. To get rid of the rest, the couple turned to eBay.
Funny enough, the handkerchiefs they were left with sold online like hotcakes, and the Chous had always wondered if there was a business opportunity there.
They decided to give it a whirl and started an ecommerce store to resell handkerchiefs they purchased in bulk, which meant following up with factories in China once again to negotiate a deal that could help them maximize their profits. The pair also decided to offer customized handkerchiefs with initials or family names, doing much of the grunt work themselves.
But their plans didn’t go off without a hitch— especially not at first.
“When we started our store, we had zero sales,” said Chou.
Eventually though, he wound up talking to his brother-in-law, who introduced him to Google AdWords. As Steve learned about ads, he discovered he could drive potential leads to his website instead of waiting for them to come to him.
“When I started running ads, I got a sale right away,” said Chou. “That’s how I knew it could work.”
Steve also learned how to write content that brought in organic search traffic that created even more sales. And within one year, the pair made over $100,000 in profit from their store, Bumblebee Linens, leading Jennifer to quit her job when her maternity leave was over.
Their Secret to Success
Looking back, Chou says their success came about due to a variety of lucky circumstances. Not only did he randomly learn about Google AdWords from a family member, but Steve says he also ran into an old friend who had just started his own ecommerce store. He also got into blogging at a time when it was easier to drive traffic to his sales page, creating even more conversions and profits over time.
And that’s part of the reason Chou says the key to success is trying different things when you get discouraged. Far too many people give up when the first strategy they try doesn’t work out, and it’s a shame because you never know if the next thing you try might be what you’re waiting for.
“Reach out to people you know and be willing to do the legwork,” he says. Instead of waiting for the perfect opportunity to come along, sometimes you have to learn from other people’s stories, successes, and failures. But you’ll never know what worked for other people in the business world unless you ask.
You should also be willing to do the dirty work and the learning. For example, Chou did a lot of the nitty gritty work for their handkerchief business at first, including running the sewing machines. He also spent a lot of time cold-calling potential collaborators and learning all he could about ecommerce and online marketing.
“ Nothing should be beneath you when it comes to getting your business off the ground, ” he says.
How Life is Different Now
These days, the couple no longer spends long days at jobs they don’t enjoy. Instead, they spend the bulk of their time working on their ecommerce store and other online businesses.
Steve even began documenting their journey to business success at MyWifeQuitHerJob.com, which led to other profitable ventures like courses, a podcast for entrepreneurs, and a conference.
“Now we make many times more than we did at our jobs,” says Chou.
The couple also has a lot more time to spend with their children. Steve coaches several of their children’s sports teams, and they spend mornings helping the kids get ready for school instead of rushing out the door.
Chou says he’s most proud of the fact that his family took a chance and went out on their own without knowing a single thing about ecommerce or blogging.
He’s also proud that they’re teaching their children to follow in their footsteps with their own ecommerce store — Kid In Charge.
“ We’re teaching them at a young age how to go out on their own and not depend on anyone else for their income ,” he says.
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f28cf76000be24699cab7cd994dd373f | https://www.forbes.com/sites/jrose/2019/08/13/this-amateur-photographer-made-over-1-million-from-his-hobby/?sh=1117e7472ce5 | This Amateur Photographer Made Over $1 Million From His Hobby | This Amateur Photographer Made Over $1 Million From His Hobby
Some people start businesses that they can’t get off the ground. Others – like Marc Andre – start hobbies, and turn them into million-dollar ventures. It’s an interesting story for anyone who has a hobby they’re particularly passionate about, and has ever contemplated the possibility of monetizing it.
Now I don’t want to give the wrong impression here. Marc wasn’t the classic hobbyist, like someone collecting numismatic coins or doing deep sea diving in their spare time. He had a hobby for sure, which was photography. But the million-dollar payoff came by applying certain business strategies to that hobby.
It’s a story worth telling, and even more worth reading.
The Basic Dilemma: Photography Isn’t Where the Money’s At
Photography is often advanced as an example of a hobby that can be turned into a profitable business. But in reality, that’s a tall order. There are some high-profile photographers who make serious money, but the vast majority earn very little. The technology is more advanced than ever, but the competition is incredibly thick.
Anyone with a smart phone can take decent quality photos either for themselves or for others. And if you need a hard-to-find photo, there’s always a web platform where you can get it cheap or even free of charge.
Marc never did delve deep into the business of photography. Despite his ultimate million-dollar success, he never considered himself to be more than an amateur. He’s never even sold photos or done professional work for clients.
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Rather than jumping into the trenches of photography, like weddings or taking pictures for clients, he chose to sell digital products related to the industry.
He spent six years launching and developing several different photography related websites. During that time, he states he made a combined total of $555,826 from the websites, which worked out to be almost $100,000 per year.
After six years, he claims he sold the blogs for $694,400. That gave him a total of just over $1.25 million in total revenues from the photography business. Along the way, he did have expenses related to running the three sites for six years, that totaled more than $111,000. But that gave him a net positive return of about $1.14 million – even though he never sold a single photo!
And since the photography angle itself is mostly incidental, Marc believes the strategy he used can be applied with just about any other business idea. That’s the main take away he hopes others will gather from his own experience.
Marc Andre’s Entry to the Photography Universe
Marc, who also runs VitalDollar.com, began his photography run in 2010. At the time, he had a web design blog on which he sold textures to web designers to use in their own products. The photography part mainly involved taking photos of various textures that can be used for graphic design.
But to take his photography to a higher level he needed to buy some camera equipment that would cost about $5,000. “I decided to start a photography related side hustle to see if I could earn the $5,000,” Marc reports. “As it turned out, I made that $5,000 in a few months, saw the possibility to grow it much further, and over the next six years I wound up making a total of over $1 million.”
As he was visiting other websites, he came to realize there were many different types of digital products being sold to photographers. That’s when his direction began to change in a radical way. He realized he could create digital products for sale instead of photos. That included marketing templates, photo overlays, and even courses and e-books.
With just a few hundred dollars, he hired others to create the products he would sell on his website. The products sold for less than $100, and could be instantly downloaded from his website. The low price point was intentional. He reckoned that the lower prices would generate impulse sales that would come more steadily than higher-priced items. He even created product bundles, enabling customers to take advantage of lower prices by buying in bulk.
Marc’s products were all being sold on what he considered to be a very basic website, one he created using WordPress. He even set up a simple shopping cart so that customers could easily make their purchases. (He recommends a an app called SendOwl for this purpose.)
What’s more, offering digital products on a website enabled him to automate his sales. That meant income could be generated while Marc was busy doing other things.
It started slowly at first, then gradually began to build into something more lucrative.
The Magic of Networking
Anyone who’s ever launched a website knows it can take a long time and a lot of effort to develop the kind of visitor traffic that produces a substantial income. The workaround, as Marc already knew, was to reach out and develop partnerships with other websites.
That started by connecting with daily deal websites that sold products to both photographers and designers. Much like a wholesaler providing products to retailers, Marc‘s digital products were available to those websites, splitting the take on each sale. That would naturally reduce the income well below what he would get if he could sell for full price on his own website. But until his site was generating that kind of traffic, partnering with other websites was a way to drive revenue.
Marc stresses the importance of selling on other websites. “These types of partnerships make it possible for you to make money from your own products even if you don’t have your own audience,” he advises. “If you’ve ever considered selling digital products but your hang-up is ‘I don’t have an audience’, there are ways around that.”
He carefully tested his marketing campaign on a small website initially. He made a few hundred dollars with that arrangement, demonstrating that there was a demand for the products he offered. From there, he began approaching larger websites.
Marc cautions that if you try the same approach, you’ll need to be very specific with the websites you choose to work with. Different sites have different target markets. For example, a site called AppSumo reaches the technology and software market, while MightyDeals is in the design niche. But there are websites for just about every market niche, and you can find them just by doing some light research.
Expanding the Product Portfolio
Research and test marketing take time, and don’t produce much revenue. But once Marc realized his products can sell on other websites, it was a matter of expanding his product line. This is particularly important for selling additional products to previous customers. To do that, he had to create a steady stream of new products.
Some of the products he created on his own, but for others he hired freelancers to get the job done. With the revenue he was generating from third-party website sales he had the funds to pay others. And with more products, he was able to increase his revenues even more.
Building His Own Blog
The revenue Marc was generating from product sales on other websites providing an income cushion to allow him to concentrate on developing his own website.
To generate traffic to his site, he began posting articles related to photography. Not having a full understanding of the topic, he hired freelance writers to write tutorials that he could sell on the website.
As he began adding content, web traffic began to grow. Visitors were drawn to the content, but some began making purchases through the ads included on the pages. Gradually, he began seeing an increasing number of direct sales from his website, which meant he didn’t need to split the income with anyone else.
Perhaps because the topic of photography is visual, he found Pinterest to be a good source of web traffic in the early going. Eventually, the flow from Google began to grow as well.
Still another source of additional revenue was affiliate sales. These have become popular across the web. He began promoting the products provided by other companies on his own website. That expanded his product offerings, and produced additional income.
An even more effective strategy to generate more web traffic – and sales – was giving away freebies. This involves providing certain information available in his digital products for free. But whenever a visitor signed up to get the freebie, he or she was added to Marc’s email list.
In the web marketing business, an email list can be a wellspring of revenue, providing an opportunity to sell new products to previous customers. He used a service called OptinMonster to create opt in forms and offer the freebies to visitors in exchange for their email addresses.
Leveraging Related Websites
Soon enough, he began offering links to his free offers to other websites and blogs. The links were specifically from photography resource pages. Those links drew traffic to Marc’s website.
But it got even better.
As free offers on Marc’s website began to grow in popularity, other websites began linking to them as well. There was no sales or marketing approach on Marc’s part at all. Websites were beginning to realize the value he was offering with his free products, and wanted to get on board.
While it may seem like financial suicide to give away product, the opposite is much closer to the truth. Not only did the freebies draw people to Marc’s website, but at least some of the people who took advantage of them eventually became paying customers. The free product offers enabled Marc to build credibility with a wider audience, resulting in more sales.
By giving away free products, as well as providing valuable information in the blog posts on his website, Mark was turning the site into a resource site.
This is a critical concept in web marketing. Unless you’re a large company with household name recognition, like Amazon, Walmart or Target, people don’t come to your website looking to make purchases. They come looking for information. They get that information from articles, and pick up a freebie or two along the way. In that way, your site becomes that information source.
Once it does, sales increase.
Putting Success-Breads-Success to Work
Once Marc was satisfied with the revenue stream being generated from his first photography site, he set out to build another. Using the same business model for the second site, he sold slightly different products than those he offered on his original site.
Once again, he added blog posts providing valuable information, and began giving away free products. The combination enabled him to build his email list for the second site, so that he could offer new products and promotions to previous customers.
The results on the second site were similar to the first. The site began generating web traffic and sales.
What did he do next? He started the third site. That happened just a few months after he launched the second. To mix things up a bit, he designed it to be a niche website, focusing on a very specific type of photography. And in another change of direction, the third website offered higher-priced products.
Hitting Pay Dirt in Year 3
Marc launched his first photography website in 2012. By 2015, he had three up and running, each generating revenue. By the end of that year, the sites were generating revenue of between $15,000 and $20,000 per month.
Equally remarkable was that Marc was working in an unrelated business at the time. The photography websites were mostly just part-time ventures.
One of the big advantages of selling digital products is that once you develop a steady stream of web traffic, the revenue basically takes care of itself. Visitors come to the website – looking for content and freebies – and make purchases. When they do, they make the payments online, then download the digital products.
Each sale required no direct hands-on contribution from Marc. Each website represented at least a semi-passive revenue stream. Marc’s only job was to manage the website, and create the content and products – which he often subcontracted out to freelancers.
The semi-passive revenue stream isn’t the only benefit of an automated website.
Cashing in on His Self-Sustaining Websites
Something else happens when you create automated websites, as Marc did: the websites become legitimate businesses. A website that provides a steady revenue stream can be sold, just like any other business. True, a website has no physical assets. But it does have a cash flow, and that’s what others are interested in buying.
In 2016, Marc sold two of the websites, and claims he received $500,000. But in 2018, he finally sold the third website for a reported $194,400. Marc states that websites typically sell for between two and three times the annual income they generate.
While he was sorry to lose the revenue the websites were providing, he felt he had taken the photography websites as far as he wanted to, and was ready to move on to something else.
Selling a website you build from the ground up can be a difficult decision to make. But when you realize you can take the success from one website and duplicate it with another, the realization can set in that you’re better prepared for whatever you might do in the future.
Marc doesn’t recommend that anyone try using photography to replicate his success. “Although there were a lot of sites selling downloadable products to photographers back in 2012, there is exponentially more competition now,” he warns. “Instead, apply the principles to another hobby, service or product line.”
Why Marc Andre’s Story is So Compelling
What impressed me most about Mark story with that he used a hobby idea to create a business that didn’t even exist in 2012. But just six years later, he collected well over $1 million in website revenue and from the sale of all three sites. His initial investment was no more than a few hundred dollars, and for most of the time that he owned the websites, they were no more than a part-time venture.
This is an example of wealth generation at its finest. Starting with nothing, Marc built three income generating websites that provided a substantial cash flow. And when he decided it was time to move on, he was able to sell all three sites for a combined total of nearly $700,000.
It’s the kind of story that shows what capitalism is all about. With little more than imagination, creativity, and a willingness to step into the unknown, Marc generated more than $1 million practically out of thin air.
It’s an example worth following.
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28c58b78cdac986b85af219cf2d97409 | https://www.forbes.com/sites/jrose/2019/09/26/ways-to-build-wealth-fast-that-your-financial-advisor-wont-tell-you/?sh=25c541bd7401 | 9 Ways To Build Wealth Fast (That Your Financial Advisor Might Not Tell You) | 9 Ways To Build Wealth Fast (That Your Financial Advisor Might Not Tell You)
Those who know me know how much I love the Roth IRA.
I love it so much in fact that I tried to convince my wife to name our third son "Roth." Ha, ha, I might be kidding . . . .
Anytime I can encourage a young investor to start their own Roth IRA it gets me fired up. While they may see only $50 to $100 per month going into the Roth IRA, I know that upon retirement they are going to be more financially secure than 99.9% of the population now.
It gives me goosebumps just thinking about it. The power of compound interest is absolutely astounding.
When a good friend of mine who owns a photography business wanted to start investing into his own Roth IRA through me I was excited for him. I immediately thought of how we would spend our retirement years reveling in the fact that we started investing when we were younger.
The future result? The accumulation of hundreds of thousands – if not millions – of dollars.
That’s why I was in utter shock when he came to me one day and informed me he was going to be closing out his Roth IRA. His rationale was that the $1,000 or so that he had accumulated over the years was going to be used to purchase equipment for his photography studio.
He needed to update his camera, camera lenses, and also some scenic backdrops for some of the portrait work that he was working on in his studio. He told me that he felt that he would get a much larger ROI (return on investment) on investing in his business than he thought he could get in his Roth IRA.
At first I was speechless.
How dare he ruin his own financial future by cashing out his Roth IRA!
Did he not see how much he was costing himself? I was a W2 employee at the time, and although I understood the concept of unlimited revenue I couldn’t relate to what he was trying to do. In my mind, I immediately dismissed it.
I thought he was making a huge mistake.
It wasn’t until several years later when I became a business owner that I had the “aha moment” – I got it. I understood what it meant to invest in your business – to see exponential return. I never told my friend I thought he was making a mistake. I politely cashed out his Roth IRA and wished him luck in investing in his business.
Looking back I know that he was right and I was wrong.
I was a young financial advisor back then and I was trained to show people how to invest into the Roth IRA and how to invest into mutual funds for the long-term. Sadly, many financial advisors adhere to those same beliefs – that investing should only be done through the stock market.
Let’s be clear. The point of this article is not to tell you must absolutely invest into a 401(k), Roth IRA, mutual fund, ETF, stock, or other investment. If you want to build wealth fast – like really fast – then investing in a vehicle such as a Roth IRA will not get you there.
If you’re younger and your income limits allow, open up a Roth IRA. Invest in mutual funds and ETFs. Make sure you have enough cash in your emergency fund. Starting your life with those good financial habits will bleed over into your success in building wealth. Okay, so how do you build wealth fast? Let’s take a look.
Drop Your Living Expenses Like Crazy
I know, this isn’t very exciting, but this is the definition of wealth. As Todd Tresidder of FinancialMentor.com says, “Great wealth builders focus on both saving money and earning more.”
What Todd is pointing to here is the gap between your expenses and your income. Expenses should always be lower than your income. The larger that gap, the more wealth you can accumulate.
Let’s face it, you can’t invest unless you have money to invest. If you’re currently living beyond your means and have no additional money to put to work for you, you’ll never build wealth.
1. Save on Vehicles
I was very fortunate that I learned this lesson when I was still in college. This led to me driving a 1998 Chevy Lumina that was completely paid for because I inherited it from my deceased grandmother.
Not having a car payment allowed me to invest into myself, my Roth IRA, and my 401(k).
According to Jason Fogelson for Forbes: "The biggest mistake a car buyer can make, especially in the age of the Internet, is to buy a car without doing research first. Some buyers are so eager to get through the car-buying process that they don’t take the time to find out everything they can about vehicle reliability, pricing and financing."
I agree. But let's focus on the financing part for a minute. Car loans come with ridiculous interest rates that nobody should have to pay for to obtain transportation. Car loans can easily be one of the highest-cost debts of many American households.
Too many people view the car payment as "normal." Sure, it's normal, but "normal" won't help you produce wealth, my friend. Instead, consider doing what I did and drive a car that you own outright. It'll be easier on your pocketbook over the long-term – I promise.
2. Save on Shelter
In addition to that, my wife and I rented a house for the first year that we were together. Not having the mortgage payment allowed us to build up our emergency fund and also save for our retirement.
But what if renting seems to be more expensive than having a mortgage payment? According to Beth Braverman for Forbes:
"Rentals offer far more flexibility. Buying a home typically means committing to a 30-year mortgage. Most people don’t stay in a home for anywhere near that amount of time, but it’s much harder to pick up and move from a home you own than it is to leave a rental."
And what happens when you can't sell your home when you need to move due to a job change or another reason? You pay a whole lot of money not only for the house you can't sell, but also for the house you move into.
If you need flexibility, consider renting like we did – even if the rent payment is higher than a comparable home with a mortgage payment.
3. Don't Buy Crap
Lastly, we didn’t buy crap we didn’t need.
Ask yourself what you really need and really don't need. Do you really need that million-inch flat screen TV? No you don't!
4. Save a Percentage of Your Income
Savers like my wife and I are definitely in the minority. Very few people save a substantial amount for the future, but if you think we’re in the minority, then check out Pete from MrMoneyMustache.com who advocates that you should be saving between 30 to 50% of your income. While that’s definitely on the extreme side of things, Pete is just another example of how it can be done.
Granted, the more you make the larger a percentage you can save. The point here is to make some steep sacrifices so that you can put more of your wealth toward investments that are right for you.
Earn Much, Much More
As the old saying goes: "You have to have money to make money." I know what you’re thinking though: "Well Jeff, I don’t have any money, so how can I make money if I ain't got no money?"
First, let’s address something. When you say that you don’t have any money and believe that, you’re already setting yourself up for failure. You have to change your mindset and believe that you can find a way to make more money.
5. Work Hard Now
When I think back to how I was able to advance my career, I remember when I was an unpaid intern at the brokerage firm that ended up hiring me. As an intern, I was working 12 to 15 hours a week, showing up when I was told to show up, dressed, and ready to impress. The majority of my duties were shredding important documents, filing, and other basic administrative duties.
Even though the work was boring, I did everything that was asked of me and above. My work ethic and drive spoke for itself. After that summer internship, I was offered a full-time position.
If you have a job, even though you might not like that job, give it everything that you’ve got. Treat the company that you work for as if you own it. Imagine then that you’re the CEO. How would you approach your daily duties differently if more was on the line?
It's really difficult to find great opportunities. It's possible, but it isn't easy. For now, I recommend that you focus on working hard. People around you will start to take notice.
Just like I was offered a full-time position because I worked hard as an intern, you will find doors of opportunity opening for you when you give your work all you have.
6. Invest in Your Education
Another way that you might be able to make more is to invest in your education. This could be getting your degree, getting an MBA, or getting a specialized designation. For me, getting my CERTIFIED FINANCIAL PLANNER™ certification has yielded thousands of dollars of revenues over the years.
When I first passed the exam for my certification, many people asked me, “Congratulations, does this mean that you get a raise?” There was no immediate financial benefit for me. It was a year out of my life where I studied my butt off, but I knew having that designation would give me the education and also the credentials to set myself apart from the competition.
While I didn’t see any immediate financial benefit, I can attribute several new clients as well as several media opportunities to the fact that I'm Jeff Rose, CFP®. You can get your certification, too!
7. Invest in Yourself and Your Marketing
Over and above that, I have invested into myself. When I was first starting off, I didn’t have a lot of money, but I knew I needed look the part so I bought fresh shirts, ties, suits – anything I could to make myself look more like a professional. I also invested into personalized brochures, seminars, and other marketing materials to put myself out there.
Another way I invest in myself is by paying $8,900 per year for Strategic Coach – a coaching program with workshops, program advisors, and like-minded entrepreneurs. Dan Sullivan of Strategic Coach has created a program I've found hugely beneficial to my business – my business has grown as a result of his work. Many of his quotes like this one pack a punch:
For a company to grow 10x, it doesn't need you managing – it needs self-managing.
I always made sure that I didn’t overextend myself to where I was spending more than I could afford. A lot of the money that I earned wasn’t going toward frivolous things such as big screen TVs or going out to eat at high-end restaurants. Instead, the money went toward investing into myself and my business.
8. Venture into Entrepreneurship
I highly recommend you start building wealth by venturing into entrepreneurship.
When I became an entrepreneur, my wealth-building journey really took off. Several years prior, I had read the book Rich Dad Poor Dad. In that book, author Robert Kiyosaki introduces the concept of the cash flow quadrant. He looks at four different entities: the employee, the self-employed, the business owner, and the investor.
When I read that book I fell under the employee quadrant, but I knew that if I ever wanted to make serious money, I had to get into the right type of quadrant – either the business owner or the investor quadrant (the investor quadrant is actually the best).
When I first started as a financial advisor, I was still an employee. I had the ability to make my own hours and to grow my business as much as I could, but I also had a lot of restrictions.
My first step was crossing over into being self-employed. Just by making that shift, I saw a 30% increase in income in my first year. Since then, I’ve become a business owner – and now I consider myself also to be an investor. As a business owner, I own my wealth management firm. I own my blog, GoodFinancialCents.com, and I also own a few other online properties that all yield me income.
Yes, blogging can be very lucrative – I've made over $1,097,757 from blogging. In fact, I could almost consider my blog as an investment; while blogs do require some upkeep, they certainly do not require nearly the upkeep needed for my financial planning practice.
I'm certainly not the only person who has made a lot of money online. Steve Chou's wife replaced her $100,000 income with an online store so she could be a stay-at-home mom. John Lee Dumas has made over $2 million from his podcast. It's amazing what you can do if you put your mind to it.
Whether you are thinking about starting an online business or growing your brick and mortar business, it all goes back to working hard now. But you know what? You have to work hard at the right things or you'll just be spinning your wheels.
My current businesses are the result of several business ventures that didn’t work out. I tried multilevel marketing on a few occasions (yuck!). I tried real estate. I tried a solo 401(k) business.
None of these worked out for me. In some, I lost a lot of money. In others, it was just a waste of time. But in all those experiences, I learned one thing . . . it is important that you adopt the mantra: "Win or learn, never lose."
9. Try Real Estate
Speaking of real estate, although it didn't work out for me and it's not right for everyone, it has certainly worked out for others. I asked Brandon Turner from BiggerPockets.com just how quickly real estate investing can help individuals build wealth. Here's what he had to say:
Real estate investing may not make you wealthy overnight, but it can add zeros to your net worth in a shorter timeframe than many other traditional investments. For example, purchasing a fixer-upper house, rehabbing the property, and selling it for more can net you a significant windfall if you do it correctly. Just be sure to buy low, rehab smart, and sell fast. House flipping, as this process is called, is largely a math game, and significant profits can be made by those willing to take on the challenge. Another strategy that can help you add wealth quickly through real estate is by purchasing multifamily properties that produce significant monthly cash flow. This cash flow can be saved and reinvested into more deals, creating a domino effect that will allow you to exponentially grow your real estate portfolio.
For more information, read The Ultimate Beginner's Guide to Real Estate Investing from BiggerPockets.com.
Concluding Thoughts on Building Wealth Fast
To build wealth really fast, you’re not going to get there by investing $50 to $100 per month into a Roth IRA. While yes, it’s great as a long-term strategy, it’s not going to make a difference in the short-term. A lot of financial advisers I talked to don’t want to encourage you to take that risk now. Heck, I was one of those financial advisors several years ago.
While not letting you know about all the wealth-building options isn't financial malpractice, it's certainly better if your financial advisor gives you a variety of options based on your financial goals – even when it doesn't help his pocketbook. It's always a good idea to talk to several professional investors to see what has worked for them. The best question you can ask any financial professional is how they are investing their money – it will speak volumes.
Let's step back for a moment. You might be thinking: "How in the world can I learn and do all this stuff? Is it even possible?"
Don't think that you have to do everything. Instead, focus on a few things and do them well. It all starts by investing in yourself. Listen to podcasts, read books, take millionaires out for lunch (yes, you buy).
You can start by subscribing an excellent podcast by Lewis Howes: The School of Greatness Podcast. There, you will become equipped to think differently about yourself and your wealth. It's fantastic.
As you make it a habit to find ways to better yourself, you'll also find new potential ways to build wealth faster than ever. Everyone does it differently, and nobody will do it exactly like you. You're unique and you'll find a way. Just give yourself a chance! I'm so glad I gave myself a chance to succeed. You will be too.
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d03eddb85b11e6cee280585e5a3aaa2c | https://www.forbes.com/sites/jrose/2020/06/11/how-likely-is-a-second-stimulus-check-to-happen/ | How Likely Is A Second Stimulus Check To Happen? | How Likely Is A Second Stimulus Check To Happen?
Less than a month ago I speculated in this space on the likelihood of the then-proposed $2,000 per month stimulus package that was floating around Congress.
Called the HEROES Act, it passed the Democratic controlled House of Representatives, but it did so without the $2,000 per month provision.
That’s not surprising, given how generous it was and how costly it would be.
But the idea of some type of second stimulus plan is very much alive. The $2,000 per month provision may have been stripped out of the bill, but a scaled-down version with another single payment of $1,200 – similar to the CARES Act that became law in March – was included in the revised plan.
It even has the support of some Republicans in the Senate. There’s also been some indication the White House may be on board as well.
What’s the current rendition of the HEROES Act offering, and how likely is the next stimulus check to happen?
What the Current HEROES Act Proposal Includes
Right now, the bill is something of a greased pig. Though both Democrats and Republicans seem willing to pass the bill in some form, the specific details it will contain is where the contention lies.
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Naturally, of greatest concern to ordinary Americans is the likelihood of a second round of stimulus checks.
The current version being advanced in the House of Representatives not only includes a second round of stimulus payments to individuals and families, but also proposes to extend the $600 per week federal unemployment benefits through year end. (It’s currently due to expire on July 31.)
The stimulus check portion of the House version includes paying up to $1,200 per family member, up to a maximum of $6,000 for a family of five.
Though the amount of the individual payment is identical to that dispersed under the CARES Act, the payment per person differs. Under the CARES Act, each taxpayer in a household was eligible to receive $1,200.
The payments were limited to $500 for children under 17. The current version of the HEROES Act eliminates the distinction between taxpayers and dependents.
The Republican Counter Offers
Republicans have yet to propose a concrete set of alternatives to the Democratic version. But numbers being suggested are significantly different.
For example, the White House is considering reducing the current unemployment enhancement from $600 per week to $300 or even $250 from July 31 through the end of the year. They believe this will provide greater incentive for people to return to work than the current weekly benefit.
The White House is also pushing for a reduction in the payroll (FICA) tax, to provide stimulus in the form of a temporary tax cut. If the reduction is anything like what President Barack Obama did with the Middle Class Tax Relief and Job Creation Act of 2012, it will reduce the Social Security tax on employees from 6.2% to 4.2%. That will translate into a 2% tax cut for most working Americans.
The White House is also looking at potential tax breaks for Americans who take vacations in the US. It’s a targeted stimulus program designed to resuscitate the beleaguered travel and hospitality industries.
How Likely is the Next Stimulus Check to Happen?
As it stands now, a second round of stimulus checks is unlikely to be passed until July. If it is, it’s anyone’s guess exactly what the payment timetable will be this time around.
Not only are Democrats and Republicans miles apart on the magnitude of the proposal, but with most of the details it contains as well. For example, the total cost of the Democratic version in the House of Representatives is in the neighborhood of $3 trillion. Republicans are proposing a bill that won’t exceed $1 trillion in total.
Considering the wide gap in total stimulus plan costs between two parties – plus the details that still need to be worked out – passage of a compromise bill in July may be way too optimistic.
Factors Affecting Passage of a Bill
Slowing the progress of the passage of any stimulus bill are the recent unemployment figures for May. Falling to 13.3%, and down significantly from 14.7% at the end of April, the economy added a surprising 2.5 million jobs during the month. That’s against an expected unemployment rate as high as 20%. The favorable jobs report adds a serious question as to whether or not a second stimulus package is even needed.
But even the supposedly favorable May employment numbers may be less than rock-solid.
“With the country incrementally opening up in May, June and July the jobs reports for August and September will probably be the critical ones showing if hiring and recalling workers continues,” notes Forbes Senior Contributor, Chuck Jones. “This will be dependent on how many come back to work in June and July, but if there are still 10 million or more unemployed after July at least 2 million or more will need to become employed in these later months for the recovery to continue.”
If the reopening of the economy is followed by an increase in unemployment, or even a flattening out, the pressure to pass a comprehensive stimulus package will increase.
The November election is still another looming incentive to pass a bill. Democrats will be eager for another round of stimulus, especially on the heels of the protests in the wake of the death of George Floyd while being arrested by a Minneapolis police officer. But Republicans may be equally anxious in the face of a stagnant or declining economy.
If There is a Second Stimulus Check, it May Come Later than Expected
If a second stimulus check does happen, we can probably suppose it’ll come sometime between July 31 and election day on November 3. It would seem at least that much time will be required to assess whether the improvement in the unemployment situation in May is a one-off event or the beginning of a trend.
If the stimulus package is passed, it may take until August or even September before it passes through the many hoops of Congress, and makes it to the President’s desk. But rest assured if the bill is passed, the checks will almost certainly go out sometime well before Election Day.
Despite the hesitation Republicans may be showing on the size of the bill currently before the House, it’s likely they’re as anxious as the Democrats to get some sort of stimulus package passed.
No member of Congress wants to face the voters back home rolling into the election, having voted against a stimulus plan that will benefit millions of people.
Final Thoughts
We should probably expect a stimulus package, complete with checks (in some amount), sent out before November. But because of the uncertain timetable, and the many details to be worked out, don’t bank on receiving another payment anytime in the coming weeks.
Though Congress and the White House moved unusually fast in passing the CARES Act and distributing the payments, there is a quite as much urgency this time around.
At least not until Election Day shows up on the radar screen.
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6671ed8f1b79099f398f4a53d49260cf | https://www.forbes.com/sites/jsimms/2015/02/25/dancing-with-robots-mayumi-kotani-leads-with-japans-top-industrial-machines/ | Dancing With Robots: Mayumi Kotani Leads With Japan's Top Industrial Machines | Dancing With Robots: Mayumi Kotani Leads With Japan's Top Industrial Machines
Potential buyers of factory robots in Japan might have been taken aback when Mayumi Kotani, president of Yushin Precision Equipment, walked in to give them a sales pitch.
Japanese corporate suites are dominated by men--with women even rarer in the conservative manufacturing industry. Quick wit and competency, however, trumped the gender card. "When we first met, I think they were probably thinking, 'Oh, it's a woman,' " she says. "But in discussions and when there were questions, I would promptly give them figures and answers and was able to build up trust quickly."
That trust turned into orders, and continues decades later. Starting out in the early 1970s with her husband, Susumu Kotani, who founded the company, and another employee, Kotani served as sales vice president for 12 years before taking the helm in 2002 after her spouse died.
Under her guidance Kyoto's Yushin has seen rapid overseas expansion and strong margins. All the while the company has maintained robust top line growth and has the No. 1 market share by value in Japan, Asia (excluding Japan) and the U.S. for its robots, which mostly extract injection-molded parts.
Mayumi Kotani, President of Yushin Precision Equipment (Credit: Makoto Ishida For Forbes)
In talking about the early years, Kotani, 68, flips the pages of a small blue notebook that she carries with her everywhere and often checks when she is on a train or plane. Filled with small handwritten print, it contains everything from finances, salaries and compensation for problem machines to the names of employees' children and how long staffers have been stationed overseas.
Her attention to detail has paid off. For the year ending Mar. 31 the company forecasts $167 million in sales from its mainstay take-out robots and other equipment, which would translate into nearly 10% average annual growth over the past five years. It counts on margins almost two-thirds higher than its closest domestic competitor. Around 70% of revenue is expected to come from foreign sales, and the bulk of that from Asia, up from just half in fiscal 2005.
The company plans to increase revenue by half again over the next three to four years and raise profit by 40% before that. Sales from new robots for health-care-related production by companies in the U.S. and Europe will be one driver, increasing from the current 5% of revenue, Kotani adds.
Yushin's biggest sellers, accounting for about three-quarters of revenue, are take-out robots using air-driven suction cups or mechanical pinchers to pull parts out of their molds quickly and efficiently and stack them for shipment or further processing. The parts handled are as large as an automobile bumper or as small as a contact lens.
Overall robot demand is strong. The 2014 World Robot Statistics report forecasts global installations will expand 12% on an average annual basis from 2015 through 2017. China, for example, is coming from a low installed base and dealing with rising wages. As of 2013 there were only 30 robots per 10,000 manufacturing workers in China, compared with 437 in South Korea and 323 in Japan, the report says.
Kotani says that Yushin has been able to maintain high margins because of its production strategy, higher sales prices than competitors' and annual reductions of about 2% in procurement costs. In contrast to most Japanese manufacturers, the company outsources almost all its production. It handles development, design and procurement, with final adjustments done in-house.
Japan has been trying to raise female workforce participation to offset its shrinking and graying population, which is triggering labor shortages. One of Prime Minister Shinzo Abe's signature reform planks is to increase the proportion of women executives to 30% by 2020 from 6.6% now.
While Kotani says such a target "is better than nothing," the keys to increasing female participation, she argues, are how children are raised and taught--and to a lesser extent, other policies, such as fixing an income tax structure for married couples that discourages women from having careers.
"In principle, I think it's education. Education and government policies," she says. "I was always told by my grandparents and parents to do something of use to other people, to take leadership, to do something on my own initiative."
Kotani says that from childhood she has had an attraction to making things. From about age 10 to her mid-40s, she says, she made her own clothes, including her wedding dress, after learning how by watching a tailor in her hometown in Kochi Prefecture in western Japan.
In Kochi, Kotani says, the women are especially active. Indeed, the proportion of female heads of companies in Kochi is the second highest in Japan, according to a 2012 survey by research firm Teikoku Databank. "Kyoto is very different and quite conservative--where women tend to stay in the background," she says.
Not surprisingly, Kotani appears to have had an impact on her two daughters, both of whom work at Yushin. They not only have engineering degrees from top Japanese universities, including a Ph.D., but also M.B.A.s from U.S. and U.K. institutions, including MIT.
Her younger daughter led the development of Yushin's fastest take-out robot, and her older daughter is in the management and planning office. Together the three women hold 21% of the Tokyo-stock-exchange-listed shares, and a family-controlled company has a further 25%.
She wouldn't say whether management would stay in the family, but a second generation doesn't seem out of the question. "Whether I choose or not, someone who can handle these times will be needed," she says. "I don't think they would be inferior to someone from the outside."
Away from the clanking of metal, the din of machines and her little blue notebook, Kotani practices traditional Japanese dance, which she has been doing since the age of 2. She also plays the koto and shamisen stringed instruments and gives dance performances about four times a year. A Kyoto newspaper says her musical ability would "put a professional to shame."
"The arts are a different world from employees, production, shareholders and making profits. Maybe it's just an illusion, but I think doing that gives me a sense of balance and contentment. I might be under more stress at the company if I didn't," says Kotani. "Still, it's much more pressure than an earnings announcement."
Click here for Asia's Power Businesswomen 2015 List
Click here for Asia's Women to Watch 2015
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dbf9f80a0a0e3e0e9b96e4423dbb3e10 | https://www.forbes.com/sites/jsimms/2020/09/14/fast-retailing-track-maki-akaida-breaking-glass-ceiling-in-quick-uniqlo-ascent/ | Fast (Retailing) Track: Maki Akaida Breaking Glass Ceiling In Quick Uniqlo Ascent | Fast (Retailing) Track: Maki Akaida Breaking Glass Ceiling In Quick Uniqlo Ascent
Maki Akaida, CEO of Uniqlo Japan. Courtesy Uniqlo
Maki Akaida has stormed up the corporate ladder since 2001 when she joined Fast Retailing, operator of the global fast-fashion retailer Uniqlo. Now CEO of Uniqlo Japan, she has been tapped by Fast Retailing’s CEO Tadashi Yanai, Japan’s richest person, as a possible successor.
If Akaida does take over at Fast Retailing, she would join a handful of women who have run or are running multibillion dollar enterprises in Japan, including Yoshiko Shinohara of temporary staffing outfit Persol Holdings and Miwako Date at property developer Mori Trust. Japan has struggled against deeply rooted traditions to get more women into its shrinking workforce, especially senior corporate roles. The government aimed to fill 30% of management and executive jobs with women by year-end, a goal now estimated to remain at least a decade away.
Fast Retailing, which had almost $22 billion in sales in its latest fiscal year, has bucked the trend by actively promoting women. Nearly 40% of Fast Retailing’s managers are female—more than double the national average. The company aims to raise that figure to 50% by supporting its female staffers’ career development with steps such as in-office day care and paid leave for elder care.
Akaida has been at the forefront of that effort. She won promotion to store manager just six months after joining Fast Retailing out of university. She later ran flagship Uniqlo outlets in Shanghai and Tokyo, as well as Fast Retailing’s human resources department and Uniqlo Japan’s public relations. “What I want to tell women is, ‘Realize early on that you have a much higher potential than you think!’” Akaida, 41, says in remarks on the company website’s page on diversity. The company declined Forbes Asia’s interview requests.
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In early 2019, Fast Retailing, which has over 3,600 stores, promoted Akaida to group executive officer. In June that year, she was named CEO of Uniqlo Japan, the company’s most profitable business. The person to hold that slot the longest? Yanai.
The media was quick to pin the heir-apparent label on Akaida. Yanai fueled the speculation not long afterward, telling an interviewer that he thought a woman would be best to take over his position and acknowledging Akaida as a potential successor. “The job is more suitable for a woman,” he said, adding that women “are persevering, detail-oriented and have an aesthetic sense.” (Yanai hasn’t set a date to step down.)
Akaida isn’t content to rely on vested qualities. “Brilliance can’t beat hard work,” she told a local fashion magazine recently. “Leaders need to work harder than everybody. Every day, I regret not trying harder.”
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203d018f267c883dfebebc70d6c0a7a1 | https://www.forbes.com/sites/judebrennan/2014/01/30/who-can-save-2015s-super-heroes-from-the100-year-flood/ | With '100-Year Flood' Of Movies Set For 2015, Which Superheroes Will Go Down In Defeat? | With '100-Year Flood' Of Movies Set For 2015, Which Superheroes Will Go Down In Defeat?
Hang onto Noah’s ark. The “100-year flood” is about to hit Hollywood.
2015 will go down in movie history as the watershed year for franchise releases from family to action fare.
To date, 27 would-be blockbusters and counting are scheduled to roll out, with the big-budget releases hitting theaters back-to-back every month save one as studios scramble to make anticipated tsunami-size windfalls happen.
Call it the official year that studios’ flagship product branding usurps original content once and for all. And that may also make it the year the blockbuster business model implodes, as predicted by the two great directors Steven Spielberg and George Lucas, who were instrumental in the early days of morphing big-budget spectacles into the studio flagship brands they are today. (Both have franchise sequels in the 2015 lineup.)
Audiences can’t afford to go to the theater as often as the studios’ box office fantasy lineup beckons. Gambling on repeat business in a volatile recession and a contiguous lineup each week cuts short the time needed to build a bloated following due to the number of entries hovering for coveted theater space. Chances are millions in writedowns will occur…fated territory even superheroes fear to tread.
For instance in February Fifty Shades of Gray, Poltergeist and Sponge Bob 2 will all be released on the same day, Feb. 13. In May, Mad Max: Fury Road will be released on May 15, followed by Monster Trucks on May 29 and more importantly an undesignated date for The Avengers: Age of Ultron. In June, Jurassic World will hit theaters June 12, followed by Fantastic Four June 19 and Ted 2 June 26.
Some 2015 releases have yet to set a date including Snow White & The Huntsman 2 and possibly Quentin Tarantino’s Killer Crow.
Now consider a quiet little poll Deadline Hollywood recently did asking moviegoers how many movies they saw during the holidays. Of those who responded: 11% saw 5 or more films; 13% saw 3-5 films; 25% saw 1-2 films; and a whopping 51% saw NONE.
“2015 will either be a bloodbath or the biggest box office season ever,” says Paul Dergarabedian, senior media analyst for Rentrak box office tracking firm. “Studios were looking at the 2013 results – international box office of $24.7 billion; domestic box office of $10.9 billion; a combined worldwide box office of $35 billion. How many blockbusters in a row can the market support? What happens with the repeat business that makes these movies work? For audiences it will be about cherry picking and these brands will live or die on that. It’s the equivalent of the 100-year flood for franchise releases. It’s all about spitting out names and derivative stories, branding vs. content – the brand synonymous with what you’ve already seen and content taking a backset. They are literally banking on the brand, especially with such short windows and in some cases a week before the next big competing brand is released.
“These movies will have to be very good to survive this.”
Batman vs. Superman is the only superhero action fare to fly above the 2015 free for all, set for a May 6, 2016 release. But another hovers in the wings, one that would parody it.
Paramount’s planned CGI reboot of Mighty Mouse, now in development, is expected to “poke fun at the last 60 years of superheroes” and deliver “an action packed, satirical, irreverent and edgy film fun for the whole family.” The Terry Toon classic turned syndicated Saturday morning cartoon series was specifically created in 1942 to spoof Superman, launched in 1941.
In the end, after the “flood” subsides, the superhero getting the last laugh may just be the mouse that roared.
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1ad2463e9b811d74a7652fb4c2dea5d2 | https://www.forbes.com/sites/judeclemente/2014/10/04/remembering-stockholm-the-environment-is-people-and-their-necessity-for-more-energy/ | Remembering Stockholm: The Environment is People and Their Necessity for More Energy | Remembering Stockholm: The Environment is People and Their Necessity for More Energy
“Both aspects of man's environment, the natural and the man-made, are essential to his well-being and to the enjoyment of basic human rights, the right to life itself," United Nations, Stockholm, 1972
With Climate Week concluding just 10 days ago, "the environment" is routinely too simply portrayed as our rivers, oceans, air, forests, etc. The UN Conference on the Human Environment in Stockholm in June 1972, however, put forth one of the great (and now seemingly forgotten) Declarations of our time: "the environment" is really about people. Focusing on our environment is focusing on improving the most critical component of our environment: the 7,200 million human beings that live on planet Earth today - with an additional 2,400 million coming by 2050.
Since Stockholm, the UN Has Stressed the Importance of the Human Environment:
1972--- “Of all things in the world, people are the most precious. It is the people that propel social progress, create social wealth, develop science and technology" (Stockholm) 1992--- “Human beings are at the centre of concerns for sustainable development. They are entitled to a healthy and productive life” (Rio) 2009--- “Social and economic development and poverty eradication are the first and overriding priorities of developing countries” (Copenhagen) 2012--- “Eradicating poverty is the greatest global challenge facing the world today and an indispensible requirement for sustainable development” (Rio)
The Stockholm Declaration Defined the Human Environment:
The right to life itself Adequate food Sanitation and clean water Economic development Shelter Education Control of toxic substances Well-being of peoples
Expanded energy supply is integral to improving the human environment. As stated by UN Secretary-General Ban Ki-moon in June: “Modern energy services are the key to changing people’s quality of life." India, for instance, is the most energy deprived nation in the world and has a shocking 700 million people without access to modern energy services and 310 million without electricity. Universal electricity access remains the most crucial global goal. With power generation closing in on being 50% of global energy supply, versus 23% in 1970, those without electricity are falling even further behind. The correlation between electricity and human development isn't a computer modeled prediction, it's a statistically significant truth, with an R-squared value of 92% (Figure 1). It's no wonder that India's government minister proclaims: “We used to think roads were the most important thing. But it’s power, power, power."
Figure 1: Electricity Access Propels Human Development
Today, our real environmental calamity is that over 80% of the world - more than 6,000,000,000 humans - lives in undeveloped nations, starving for the massive energy supply that has you, me, climate scientists, and Al Gore living until age 80 and beyond. Looking forward, mankind's biggest problem is plainly obvious: our world is becoming less developed, not more (Figure 2). By 2050, nearly 90% of the 9,600 million humans in the world will reside in undeveloped nations (based on UN projections), where they suffer harsh, abridged lives. Poverty, not weather, is the greatest health threat that we face (see here, here, and here to know why wealth = health). A lack of cheap energy leads to the silent killers of poverty, hunger, and easily preventable diseases/illnesses that kill 21,000 children a day. In the US, for instance, extreme weather killed 446 people in 2013, compared to nearly 900,000 deaths a year from social factors like poverty and lack of education, per the Columbia University's Mailman School of Public Health.
Figure 2: The World is Tragically Becoming Less Developed
Billions of humans will remain energy deprived, all the while important environmental groups tell the world we must focus on using less energy and/or more expensive, less reliable energy (Figure 3). This position is the exact opposite of reality, however, and actually fails to protect the environment because it fails to prioritize the fundamental needs of our most precious natural resource: human beings. Stockholm 1972 demonstrated why the goal to restrict energy sources is the real anti-environment movement because more energy is the driving force of more human development. Fossil fuels account for over 80% of the world's energy supply, a firm grip that all major forecasting agencies model to more or less hold in the coming decades. Cheaper, more reliable, and abundant fossil fuels built the world's richest economies and advanced those with the highest living standards. Coal and oil, for instance, is now powering the fastest growing economies, China and India, both of whom, importantly, have seen their life expectancies surge (see here and here). Over 70% of the developing world's electricity comes from coal and gas, cheaper energy sources that vitally increase the disposable income that is the leading indicator of health. And FYI: the lifespans of global reserves and resources of fossil fuels are measured in centuries, not decades.
In short, people are healthier and live longer when their energy is cheaper and therefore have more money to take care of themselves.
Critically, the Lawrence Livermore National Laboratory has concluded that a nation needs at least a 4,000 kWh/capita/year electricity use rate to even have a chance at development. For example, Ethiopia (infant mortality rate of 56 per 1,000 births) and Nigeria (life expectancy of 52 years) consume just 70 and 150 kWh respectively, versus 13,300 kWh in the US and 6,300 kWh in the European Union. Indeed, the International Energy Agency's definition for "electricity access" (50 kWh for rural and 100 kWh for city dwellers) is drastically too low.....40-80 times too low when using Lawrence Livermore as the threshold....133-266 times too low when using US success as the threshold.
Figure 3: The World We Don’t Want: Electricity Poverty Will Prevail for Decades
This lack of energy takes a devastating toll on women and girls in particular. That's because females spend most of their time gathering fuel and other basic necessities in the developing world, instead of learning, making money, and bettering their situation. Women are 50% of the global population but over 70% of those in energy poverty. Water.org reports that women and girls in the developing world spend an estimated 200 million hours each day simply collecting water – the number of work hours to build 29 Empire State Buildings in a single day. Lots more energy has already proven to be the answer. Newspaper and magazine articles from the 1930s are filled with how electrification (e.g.,Rural Electrification Act of 1936) greatly improved the lives of American women. Now, in China, a tripling in energy consumption since 2000 (from 40 Quadrillion Btu to 120 Quadrillion Btu) has helped lift female life expectancy from 73 years in 2000 to around 78 today. Since 2000, China has quadrupled its personal electricity use to ~4,000 kWh, and the country has leveraged coal to surpass the global average for Human Development, after being 18% below it in 1990 - an astounding evolution with no precedent in human history (Figure 4).
Figure 4: Coal Drives China’s Human Development
Artificially restricting energy supplies dangerously increases costs, which affects the affordability and accessibility of energy, the worst effects being for those with the least ability to pay, thereby impacting the rate of economic developing and living standards for all. The developing world, for instance, has a GDP/capita of just $3,000 (real 2005 $), compared to $40,000 in the developed nations, and can't absorb the higher cost, less reliable, naturally intermittent energy that is now even wreaking havoc in rich Europe, the US, Australia, and Canada. Recognized by World Bank President Jim Yong Kim at the GE Africa Ascending: Powering Inclusive Growth meetings in Washington, DC in early August (read this quote twice!):
“It’s a situation that I have referred to as Energy Apartheid…We have to be really serious about what we are going to do to increase energy supply…and so, if we find ourselves in a situation…where we say no coal…then we’re really not serious….We can’t say to African leaders well because of our other concerns, you're going to have wait on getting energy…we have to look at every single option...we know that intermittent energy has never led to economic development in any other country, we shouldn’t think it’s going to happen in Africa.”
Frequently unmentioned, the developing world's debt continues to pile up, another sign that more expensive energy isn't the solution. According to the World Bank, the Total External Debt Outstanding of the developing countries is around $5 trillion (compared to $2.6 trillion in 2005), mounting by approximately $300-400 billion per year. Debt significantly affects global poverty because borrowed money accrues interest, which augments that debt and quickly erodes a country's ability to invest in much-needed infrastructure. With a growing 83% of the world living in undeveloped nations, Greenpeace, Sierra Club, World Wildlife Fund, and the divestment crowd must realize that the world's real "stranded asset" isn't and won't be the irreplaceable fossil fuels that now supply over 80% of the world's energy, but billions of human beings that lack the massive energy supply that many of us rich Westerners apparently now take for granted.
Simply put, far too many Westerners are undervaluing the health and quality of life benefits of cheaper energy and more disposable income, even though they themselves continue to enjoy those advantages. Americans, for instance, have never had it better. For example, in the US's coal-based electricity, oil-based transport era since 1900, life expectancy has soared 32 years to 79. Coal-electricity has played an enabling role in the plummeting of the US infant mortality rate, from 160 per 1,000 births in 1900 to around 5 today. Over 60% of this year's US college graduates will be females, compared to around 15% in 1900.
As such, perhaps our most clear energy reality is that the world has just started to scratch the surface when it comes to energy consumption: that's because over 80% of humanity doesn't have enough of it (Figure 5).
Figure 5: What is Required to Bring Developing Nations to European Union Level of Electricity Access (~6,300 kWh)?
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68c84d152746c02169b87df7ca32124e | https://www.forbes.com/sites/judeclemente/2015/03/22/why-are-californias-gasoline-prices-always-higher/ | Why are California's Gasoline Prices Always Higher? | Why are California's Gasoline Prices Always Higher?
On Friday, the price of gasoline in California was $3.30 a gallon, versus $2.43 for the rest of the country. Signed into law in 2006, Assembly Bill 32 mandated a reduction in California's GHG emissions to 1990 levels by 2020. For the transportation sector, this centers on standards for cleaner, more efficient vehicles/trucks, a clean fuels standard, and now cap-and-trade. California drivers pay two types of state taxes at the pump: a sales tax; a percentage of price; and an excise tax, a set amount per gallon. Combined with the federal 18.4 cents per gallon federal tax, total gasoline taxes/fees in the state can soar above 70 cents a gallon. California's cleaner burning reformulated gasoline requires more processing and costs an extra 5-15 cents a gallon to produce. And in April, California will switch to the more expensive Summer fuel blend, used until October 31. The fall in the price of crude oil has reduced gasoline prices and helped to mitigate the increases in maintenance service rates.
Cleaner CARBOB gasoline is mandated by the California Air Resources Board and is made to be mixed with ethanol, a more corrosive fuel. Above 900 million gallons per year, California has been the highest ethanol user in the country. Factoring in energy density, ethanol is about twice as expensive as gasoline (see here). BCG finds that California's Low Carbon Fuel Standard, installed in 2007 to reduce the carbon-intensity of transportation fuels 20% by 2020, will add between 33 cents and $1.06 per gallon to gasoline production costs by 2020, another premium that will get passed onto customers through higher prices. Started on January 1, AB 69 expanded California's complex cap-and-trade program to include gasoline and is expected to add another 16 to 76 cents per gallon. Some point out that this "hidden" tax is now going masked because the cost of gasoline is down. Although eventually it could add an additional $5-7 per fill-up for families.
California: Higher Gasoline Taxes, Higher Prices (January 2015)
Source: API
California produces almost all the gasoline sold in the state, remaining an "island market" because of a lack of pipelines connecting to other states and an inability to import because of strict environmental regulations. Only a few places actually make CARBOB. California's prices are susceptible to spikes because capacity continues to tighten. For example, the number of refineries producing gasoline has dropped from 35 to 14 since the mid-1980s. There is therefore little margin for error and less ways to cope when supplies go offline. There is already a tight balance between supply and demand in the refining business because low margins keep utilization rates high. Importantly, California's gasoline market is in contrast to its electricity market, for instance, where in times of reduced supply importing a third of power actually gives the state more flexibility (see here). Some recent examples:
In February, an explosion at a 155,000 b/d Exxon refinery in Torrence was only supposed to cause prices to spike 7-15 cents per gallon, but just a week later prices had surged 30 cents. Combined with the ongoing USW strike at Tesoro's Carson and Martinez plants, 17% of capacity was taken offline from early-Feb to early-March. Prices spiked $1, nearly triple the national average.
In August 2012, a fire at a Chevron refinery in Richmond, the second largest in the state processing 245,000 b/d, spiked gasoline prices 25 cents.
California: More People, More Money, More Vehicles, More Demand....Less Capacity
Sources: EIA; USDOT; USDA; JTC
California's gasoline use has been declining in recent years, but drivers still gobble up over 40 million gallons a day, the 3rd largest market in the world behind the U.S. as a whole and China. After natural gas, gasoline is easily the 2nd most important source of energy in California, supplying 1,650 Trillion Btu a year. Gasoline will remain critical for decades at least because there is simply no current material substitute. The "demand destruction" caused by higher prices amid lower/flat incomes since the 2008 financial crisis cannot be overstated. Now, an improving economy has California's unemployment rate under 7%, the lowest since May 2008. More gasoline is being used in the state than any time since 2007. The number of highway miles driven Californians in 2014 increased for the third year in a row. Last week, tankers with CARBOB were forced in from Asia and Eastern Canada. Since 2000, California's crude production has plummeted ~30% to 555,000 b/d. Foreign suppliers have doubled their share of crude to over 50%. California remains far removed from both the massive Gulf Coast refining complex and the shale oil boom occurring in the middle of the country. And more oil trains and barges face significant challenges in reaching the Golden State with that cheaper tight oil (see here and here).
Gov. Jerry Brown's goal to put a million electric vehicles by 2023 is a realistic one but should be kept in perspective. California now has about 33 million registered vehicles, and 95% of its transportation fuel comes from petroleum-based fuels. Electric vehicles, which can actually increase home electricity use by 50% or more, in California are more natural-gas cars than anything else. Since 2003, the first year of the Renewable Portfolio Standard, gas has extended its share of state power generation from 47% to 60%. Wind and solar supplied 7% and 5% last year, respectively. A potential mileage tax program to reduce the sales tax would contradict state goals by penalizing both more efficient vehicles that can drive farther distances per gallon and electric vehicles that don't use gasoline. In recent years, California has been losing tax revenues to pay for much needed transport infrastructure from lower gasoline sales (see here).
I agree, with California importing 65% of its crude and 90% of its natural gas, the blocking of the Monterey shale, which extends from northern California down to the Los Angeles area, is quite the head scratcher.
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c7594a2b9462bf372dc53c3a78e27f50 | https://www.forbes.com/sites/judeclemente/2015/05/17/the-importance-of-texas-oil-and-natural-gas-surge/ | The Importance of Texas' Oil and Natural Gas Surge | The Importance of Texas' Oil and Natural Gas Surge
"The Texas Miracle" is being built on oil and natural gas. Thanks to hydraulic fracturing ("fracking") coupled with horizontal drilling, Texas crude oil production has tripled since 2010, and gas output is up 15%. Every day, Texas now produces 3.6 million barrels (b/d) of crude oil and about 22 billion cubic feet (Bcf/day) of natural gas. Texas now accounts for nearly 40% of U.S. crude output, compared to less than 20% in mid-2009, and over 30% of our natural gas. Texas is the source of ~55% of the incremental U.S. oil production since 2008 that has transformed the international market. Texas's shale oil revolution has been launched by the Eagle Ford play in South Texas and the Permian Basin in West Texas, constituting more than two-thirds of U.S. shale output in April. Texas now yields more oil than Iran or Iraq and more natural gas than any nation except Russia and the U.S. as a whole. About half of all rigs actively exploring for or producing oil in the U.S. sit in Texas.
The importance of the Texan energy juggernaut can only increase. Texas has 11 billion barrels of proven oil reserves, 31% 0f the national total; and 90 Tcf of proven natural gas (a doubling since 2003), 26% of the national total. In contrast, California, our largest gas import market, has just 0.6% of the proven gas, and reserves continue to fall. And gasoline will easily remain the most important transport fuel for decades to come. Texas leads with 27 of the 142 U.S. refineries, holding 30% of all capacity. Texas is also the center of over $100 billion in new investment in the U.S. petrochemicals sector. The opportunity for CO2-EOR is staggering, with hundreds of billions of barrels available for tertiary crude operations. The Permian Basin has sourced over 80% of CO2-EOR production, and today's national total of 400,000 b/d could "plausibly" reach 3.7 million b/d by 2030. Often conveniently ignored and largely undervalued, CO2-EOR is a win-win-win strategy to extend oil production, grow the economy, and safely reduce emissions. The U.S. National Energy Technology Laboratory reports that next‑generation technologies will make the oil yielded from CO2-EOR 100%+ “carbon-free,” up from 75% today.
Texas' Rising Oil and Natural Gas Production
Source: EIA
The importance of Texas' ability and willingness to produce and export more natural gas (and oil) can't be overstated. That's because over the past 15 years gas has accounted for more than 80% of new power generation capacity, a dominance that's sure to continue (see here). From 2005-2014, U.S. gas-based electricity increased 65% to 1,130 TWh, and gas has extended its share of electricity from 18% to 28%. The Southwest and Southeast regions in particular have a growing reliance on gas to reduce emissions. For example, while California imports over 90% of its gas (its primary source of electricity), mighty Texas is a net gas exporter at 2.7 Tcf a year going to other states (i.e., Texas exports more natural gas than any other state even produces!), nearly an eight-fold increase since 2002. Thus, without Texas, CERA's Michael Stoppard's 2008 false prediction that "the LNG armada has already set sail" for the U.S. might have become a reality. Texas has driven a national about-face, and the U.S. is now looking to export more natural gas (and oil), not needing to import it. Of the 11 states depicted below, Texas is the only one that hasn't surged its dependence on gas power, even though it's the one that has the resources to do so. Other low-producing, high-consuming states continue to depend on more gas while sucking in more gas from growing neighbors. For example, both California and Arizona have fast-growing populations, import over 90% of their gas, and will continue to lean upon natural gas to compensate for issues with other sources (see here and here). For vital 24/7 baseload power, California closed its 2,500 MW San Onofre Nuclear Generating Station in 2013, and Arizona's coal-based 2,250 MW Navajo Generating Station is entangled with EPA regulations.
In fact, per America 2050, the U.S. has 11 Mega-regions, six of which lie within the depicted 11 states. These booming areas of the Gulf Coast, Texas Triangle, Arizona Sun Corridor, Southern California, Northern California, and Florida will be adding tens of millions of people in the years ahead, and can't be afforded the luxury of not producing their own natural resources. Given tremendous opportunities for the Monterey shale and offshore, this is especially true for California, where the rising needs of 38.8 million people for outside energy can unfairly increase prices in other states. Texas' own population is expected to double by 2050, so other states must help out by producing what they can. And when played out in reality, Renewable Portfolio Standards (RPS) put the onus on more reliable natural gas, the source that ultimately gets dispatched more as the aptly suited backup for when "the wind isn't blowing" and "the sun isn't shining." Ask California: with an ambitious RPS at 33% by 2020, gas has extended its share of California's power generation to 60%, up from 47% in 2003, the first year of the state's RPS. Simply put, "the Texan way" is the far more sustainable way: "if you're going to use more oil and gas, you should first look to produce as much as possible in your own backyard." Some huge oil- and gas-based states have laws that actually block resource development! (see here and here). Wanna know what's really "unsustainable?" Just imagine if the neighbors they import from took the same approach.
Texas: THE Big Gas Producer in a Region Depending More and More on Gas
Source: EIA
Comparing the Texas and California electricity markets is another topic that requires serious discussion. Texas has its own power grid (ERCOT), while California imports 33% of its electricity, an over reliance that sparked a historic 2000-2001 electricity crisis when drought in the Northwest states cut the amount of hydro power available to California. Texas has cheaper rates, but California's bills are lower since mild weather and smaller homes with more people suppress the need for electricity. In fact, along with a higher GDP per capita, these naturally lower bills (from needing less) are why California can outbid other states for energy, especially higher cost renewable power. Texans use about 14,200 kWh per year, and residential bills average $135 a month; while Californians use 7,000 kWh, and residential bills average just $95. California's advantage, however, has much more to do with the unique characteristics that define "The Golden State" than the state's efficiency policies that some habitually tout (see here, here, here, here). The mantra therefore for other states to simply "follow the California model" to use less electricity isn't practical. According to the National Climatic Data Center, for instance, Texas has about 2,700 cooling degree days a year, against 990 for California and the U.S. average of 1,350. Just think about it: Houston averages 93-95 °F in June, July, and August, versus 77-80 °F in Los Angeles. The EIA's latest Residential Energy Consumption Survey clearly illustrates the point (see here and here):
Texas: 8.9 million households...99% have air conditioning...97% use it California: 12.5 million households...63% have air conditioning...57% use it
Electricity Prices: Texas vs. California
Source: EIA
Despite being the oil and gas capital of the world, some Americans might be surprised to know that Texas is also easily the national leader in wind power. Wind is now nearly 15% of Texas' total generation capacity. Importantly, Texas has a very diversified electric power system, where gas is 47% of generation, coal is 34%, nuclear is 9%, and wind is 9%. This solidifies the essential "diversity in the system" that buffers supply problems and enables dispatching based on current economics. Texas has also had the greatest absolute decline in CO2 emissions over the past decade or so, slashing its carbon intensity by nearly 40%. Texas's 23 metric tons of CO2 emissions per capita is on par with the others in the region and less than half of Alaska's mark. California has lower emissions per capita, but, as mentioned, there is a unique faculty to need less electricity. New York's lower emissions, meanwhile, arise from the mammoth NYC mass transit system that constricts personal energy use, and more multi-family units offer efficiencies of scale for energy for heating and cooling.
Overall, California is becoming a less energy-intensive (i.e., fewer manufacturing jobs), more service-based economy, while New York is oriented toward high-value, low-energy-consuming activities such as financial markets. And in support of Texas, it's crucial to bear in mind that Texas produces 7 times more petroleum, our primary fuel, than California and New York produce combined, and 30 times more natural gas, our 2nd most important fuel whose use is rapidly rising. In other words, those who compare Texas CO2 emissions unfavorably with California and New York are only telling you a part of the story.
Wind Power Capacity: Texas vs. California
Sources: DOE, WINDExchange
If Texas were its own nation (I know, I know Texans, it already is!), the economy would rank as the 12th largest in the world, at about $1.6 trillion. Texas has been repeatedly cited as 1st in "best state for business" by Chief Executive Magazine. Texas has no state income tax, low corporate taxes, reduced costs, and a legal system that encourages free enterprise. In some recent years, Texas has accounted for 70% or more of all new jobs created in the country. Texas has one of the lowest unemployment rates at 4.2%, compared to 5.5% nationally. The Texas unemployment rate has been at or below the national rate for well over eight years. Texas' personal income was up 5.6% in 2014, 5th nationally. Since 2000, Texas has created 2.1 million jobs, that's more than double any other state. Led by oil and gas, in 2014, Texas was ranked the number one state by export revenues for the 13th year in a row. Gasoline, diesel, and other refined product exports have soared five-fold since 2009, hitting $65 billion last year. Petrochemical sales added some $13 billion, and propane and natural gas exports brought in another $10 billion. Fast-growing Mexico is Texas' top trading partner, taking 36% of Texas' $290 billion in 2014 exports and nearly 2 Bcf/day of gas.
A much larger U.S. crude export market is emerging, and already leading in exports of petroleum liquids, Texas will be the hub. Around 75% of the 4.2 million b/d of oil products that we export comes from Texas' PADD 3 region. To begin, the Obama administration is likely to allow swaps of crude oil to Mexico, fairly giving the country the same rights as Canada. For natural gas, as of April, Texas has 2 of the 6 approved LNG export terminals, with nearly 40% of the 10.6 Bcf/day in sendout capacity. For proposed LNG export, Texas holds 6 of the 18 projects, with half of the 22 Bcf/day in total capacity. Today, low oil and gas prices are hurting, but expectations are that the market could start to tighten by midyear. EOG Resources, the largest shale oil producer in the nation, expects a return to “double-digit” production growth if WTI, the U.S. crude benchmark, reaches $65 per barrel or above.
Texas' Rising Income and Leading Job Growth
Sources: BEA; BLS
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347028d3646567aba3c197277c9d00db | https://www.forbes.com/sites/judeclemente/2015/10/25/restricting-energy-options-in-india-is-wickedly-cruel/ | Restricting Energy Options in India is Wickedly Cruel | Restricting Energy Options in India is Wickedly Cruel
India, not China, is the most important emerging energy user and CO2 emitter. That's because China is further along the development path, and India will require much more energy to grow. In fact, India's population will pass China's in 2022 to be the largest in the world, six years faster than projected just a few years ago. India's youth is a soaring global force: over 30% of India's population is under the age of 15. Over 380 million kids that want and deserve the same luxuries your kids have. The median age in India is just 27 years, compared to 41 in France and 42 in Canada.
Overall, youth characterizes the entire undeveloped world and demonstrates why the energy policies of the developed nations are completely irrelevant for the emerging economies. Simply put, outside of the USA (we're adding 3 million people a year), "the West is old and not growing."
The Sheer Enormity of India's Youth
Source: CIA
India is actually a solidly natural resource rich nation, with BP citing proven reserves of 6 billion barrels of oil, 50 Tcf of natural gas, and 61 billion tonnes of coal. The resource though is so much larger. For example, some 75% of India’s sedimentary basins have yet to be adequately explored.
Coal India, which produces over 80% of the country's coal, wants to double output to over 1 billion tonnes by 2020. Nationally, Coal Secretary Swarup says India will produce over 1.5 billion tonnes of coal by the end of this decade, although the approval and development process of coal mines needs streamlined.
Moreover, coal, oil, and natural gas will be readily available for an India that requires a massive energy growth strategy to elevate it's sadly low standard of living. The Asian region is the established hub of the international coal market and is also now the the center of the international oil market and the emerging global gas market. India is set to be the world's largest coal importer by 2025 and has been spending $330 million a day on imported oil and gas.
And India's cities are expanding by 12 million people a year (since cities are built on steel, the met coal demand for steel production alone will be immense!). This is a rising population density that will make the power grid based on conventional sources like coal, gas, and big hydro (which most environmental groups oppose) increasingly important.
Wind and solar power capacity will continue to grow, but they're naturally intermittent and are "unavailable" far more often than they're "available" (capacity factors can be just 10%). Coal and gas will be the centerpiece, especially since India’s aging grid can't handle the fluctuations when the wind dies or the sun gets blocked by clouds. Renewables are more "supplemental" than "alternative."
Let's be honest, rich California has spent tens of billions of dollars over the past 12 years on wind and solar, but the two still just constitute a respective 6% and 5% of total power generation, while natural gas' share of electricity has surged from 47% to 61%. Moreover, wind and solar are strictly sources of electricity, which accounts for just 40% of India's energy demand.
Thus, wind and solar have nothing to do with 60% of the energy that India consumes - a reality that conveniently gets forgotten. For example, wind and solar do nothing to displace oil, the world's most vital fuel.
In one of the most critical articles on electricity ever written, our best experts at Carnegie Mellon's Electricity Industry Center warned us long ago about the public backlash of forced renewables at all costs. As it turns out, poor people in particular are against higher cost, less reliable energy.
Scientific American (not exactly having Fox News or Breitbart political leanings) just reported (read this twice):
"When the former chief minister of Bihar state visited to inaugurate the grid, villagers lined up to protest, chanting, 'We want real electricity, not fake electricity!' By 'real,' they meant power from the central grid, generated mostly using coal. By 'fake,' they meant solar."
Sorry, but CO2 isn't emitted in a socio-economic vacuum. CO2 is emitted because it's the inevitable byproduct when combusting coal, oil, and natural gas, the affordable and reliable fuels that overwhelmingly power the richest and healthiest nations on Earth, like the USA, Japan, Germany, and Australia. In India, because fossil fuels are so integral, as the country grows, so does the demand for coal, oil, and natural gas. And given India's enormous room to grow, the more economic expansion and more energy demand connection is only it's infancy.
India is Overwhelming Fossil Fuel-Based
Source: IEA
By far, India's biggest problem is that the bulk of the population is desperately poor (anyone arguing something else is the real one "unfit to run for office"). The latest India census exposed the sad extent of this calamity. And although growing 5-8% per year, India is easily the most energy deprived nation on Earth, with a sickening 800 million people using wood/dung to cook, 750 million with no refrigeration, and 320 million having no electricity whatsoever.
India has 960 million people living on less than $2 a day - the World Bank's definition of poverty in the developing world. Staggeringly, this is as many people as the European Union, USA, and Japan have...combined. The recent census found of 300 million homes, less than 5% made enough money to even pay income taxes.
Yet, despite this abject poverty, and the fact that coal is easily India's most important source of poverty: the World Bank won’t fund coal-related projects in India.
For energy, poor India requires "everything, all of the time." Energy is the backbone of economic growth, and making more money is the best way to increase living standards. Drastic poverty and energy shortages explain why the "India just needs renewables and more energy efficiency" mantra is so maniacal. "Conserving into growth" is the ultimate, surefire way to "keep poor people poor."
India requires an immense energy supply build-out strategy...of everything! India has a $250 billion plan to get "power to all" by 2019, and it's going to take every single energy source available, at maximum level. Electricity is the foundation of modern life, and the "digital divide" is widening for those around the world that lack access to power.
In any capacity, limiting such essential energy options as coal, oil, and natural gas isn't "good for the climate" it's shameful: 6 in every 7 humans live in undeveloped nations.
Indians Will Remain Devastatingly Poor
Source: USDA
As we approach the UN climate negotiations in Paris beginning this November, those pushing limitations in energy options in India and elsewhere are loudening their hysteria. I've found that "climate altruism" is particularly easy when you yourself have all the energy that you need at your fingertips. Indeed, Western hypocrisy is actually the greatest threat to our environment and our never-ending goal of advancing human development (which has catastrophically taken a backseat).
Fortunately, there are signs that our dangerous hypocrisy is catching up with us. Western-like human development, after all, is not only the most important goal in the developing world but is also a fundamental right - for all nations. Last week, a delegate from South Africa representing 130 developing nations criticized a draft UN accord on climate as a form of "apartheid" against developing nations.
As for India, a Member of Parliament, S P Muddahanumegowda, just told a meeting on sustainable development: "voices and interests of a vast majority of developing countries are being stifled if not ignored...The path to climate ambition must be paved with equity."
Just think of the insanity from the Indian perspective. Americans use 10 times more energy and make 30 times more money. Yet, there are dozens of environmental groups and tens of millions of Americans telling Indians to:
stop/limit coal use, even though coal is the basis of the world's electricity, steel, and cement industries (and thus the basis of urbanization);
stop/limit oil use, even though oil is the world's most important fuel, powers basically the world's entire transportation system (and thus is the enabling force of globalization), and has no significant substitute whatsoever;
stop/limit natural gas use, even though gas is the fastest growing source for electricity in the developed nations themselves, has a rapidly emerging global market making gas increasingly available and lower cost, and is the backup required for wind and solar (ask California how important natural gas becomes when the focus turns to wind and solar).
But, despite the massive need for more energy of all forms, there's a lot of money involved for the developing nations, especially if they can appear, even if on the surface, to go along with the West's insidious program to restrict energy options. For example, Christopher Field, an active participant in the Intergovernmental Panel on Climate Change, wants a renewable energy focus in India and the rest of the developing world, and he demands you pay for it! Never mind the fact that these energy sources are too expensive (see here, here) in rich, renewables-obsessed Europe, where electricity prices are 3-5 times higher than in the USA.
Prime Minister Modi, of course, gladly accepted the Obama administration's pledge of billions of dollars to fund solar energy development in India.
I've already documented the corruption that thrives in the most crucial developing nations (see here). So, the conversation in 2030 is sure to sound something like: "sorry we missed our emissions target, it turns out those 700 million Indians really did want modern energy, but thanks so much for that $75 billion designed to help us meet our target...don't worry, it sure went to good use." :)
American Hypocrisy... of the Anti-Coal, Oil, and Natural Gas Movement
Source: JTC
American Hypocrisy... of the Anti-Coal, Oil, and Natural Gas Movement
Source: JTC
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2801d24cdf0ff1a7b36a5bb91d9075d7 | https://www.forbes.com/sites/judeclemente/2016/08/06/californias-rise-in-solar-and-wind-electricity/ | California's Rise In Solar And Wind Electricity | California's Rise In Solar And Wind Electricity
California's Ivanpah in the Mojave Desert is the world's largest solar plant. Source: Inhabitat.com
I've documented here how California is a natural gas state. Yet, not the panacea some like to claim, the rise in wind and solar power in the state is also quite an achievement (see the Figure on page 2). For many years, I've relentlessly described how oil, coal, and natural gas have enhanced our lives - more people, living longer, living better - but the reality is that we must support ALL energy sources: each one has pros and cons. Again, a rising 85% of the global population lives in undeveloped nations, where energy deprivation kills.
In the years ahead, wind and solar will continue to win the renewable race, largely because new locations to install more hydro power in the U.S. especially are limited. In fact, California's total hydro power has fallen nearly 70% since 2011 (here). California's boom in solar is more powerful and more unique than meets the eye: 80% of the capacity additions in the country to meet Renewable Portfolio Standards are based on more wind.
And although California does have more sunshine than other states, The Golden State is actually not even in the top 5 sunniest states (here). California produces about 6% of U.S. wind power, but 50% of the solar power. California also confronts less of a NIMBY problem than others: nearly 80% of Californians support using their vast deserts for renewable power development.
But importantly, despite this great rise in wind and solar, since 2003, when California implemented its first RPS, natural gas has actually INCREASED its share of the state's power generation from 47% to over 60% last year. This is a clear sign to environmentalists and the wind and solar community that gas actually supports renewable growth because it supplies the more reliable backup for their intermittency. As for the oil and gas companies, you should have entire divisions on how more renewables like wind and solar is enabled by more natural gas.
Although we will need ALL energy sources to grow our economy, lower emissions, and enhance energy security, I've unfortunately come to know that many in the environmental and renewable community are much more anti-coal, anti-oil, anti-gas, and anti-nuclear than they are pro-environment.
Not only unwise, impractical, and unfair, this "anti-everything else" insistence can only block more economic growth and human development: coal has been the basis of the U.S. and global power systems since their inception, oil is the world's most vital energy source with no significant substitute, gas is cleaner and the fastest growing major energy source, and nuclear is a non-carbon energy source that is critical to meeting environmental goals.
In California, Solar Power Has Surged Past Wind
Sources: CEC; JTC
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a22ca67e0d28f6c1b4a94631736ab853 | https://www.forbes.com/sites/judeclemente/2016/09/05/nuclear-electricitys-bright-future/?sh=3beecc3104d4 | Nuclear Electricity's Bright Future | Nuclear Electricity's Bright Future
The Palo Verde Nuclear Power Plant in Arizona is the largest power plant in the U.S. by net... [+] generation. Source: AMWUA
As a non-carbon source of baseload energy, it will be virtually impossible to meet climate change and environmental goals without a major expansion of nuclear energy. Today, nuclear accounts for 5% of global energy supply and 11% of electricity but is 0% of CO2 emissions.
Nuclear faces a bright future under both IEA World Energy Model's Reference Case and the 450 Scenario, the latter setting "an energy pathway consistent with the goal of limiting the global increase in temperature to 2°C by limiting concentration of greenhouse gases in the atmosphere to around 450 parts per million of CO2." And bear in mind that if the very high expectations for wind and solar don't come to pass, the contribution of nuclear power will be even greater than anticipated.
Indeed, it's quite clear that the more ambitious CO2 reduction goals become, the greater role nuclear energy assumes. This is why scientist Dr. James Hanson, the "Father of Global Warming," says:
"Nuclear power, particularly next-generation nuclear power with a closed fuel cycle (where spent fuel is reprocessed), is uniquely scalable, and environmentally advantageous. Over the past 50 years, nuclear power stations – by offsetting fossil fuel combustion – have avoided the emission of an estimated 60bn tonnes of carbon dioxide. Nuclear energy can power whole civilizations," (here)
Higher CO2 Emission Reduction Goals Favor Nuclear
Sources: IEA; JTC
All 715 Mtoe of nuclear energy consumed this year will be to generate electricity, the cornerstone of modernity where "more is better" (read that link, it could be the most important article I've ever written). Thus, nuclear competes solely in the most vital energy market there is. Electrification, don't forget, was named the Greatest Engineering Achievement of the 20th Century. Today, over 30 countries utilize nuclear power, and there are 445 nuclear reactors around the world. Some 65 new nuclear plants are under construction in 15 countries.
The evidence shows that nuclear power has been a safe means of generating electricity for over six decades. The accident risk is low and declining. In the 50-year history of civil nuclear power generation and more than 16,000 reactor-years of operation, there have been three significant accidents in the 60-year history of civil nuclear power generation: Three Mile Island (Pennsylvania, USA 1979), Chernobyl (Ukraine 1986), and Fukushima (Japan 2011).
Per OECD: " Even though nuclear power is perceived as a high risk, comparison with other energy sources shows far fewer fatalities " (here).
More nuclear power is critical because it would drastically reduce emissions in the power sector, which accounts for nearly 45% of all global CO2 emissions. Take California, the largest U.S. economy and the U.S. Environmental Protection Agency's model to reduce emissions. California will be hard pressed to meet its emission reduction goals with the shutdown of San Onofre Nuclear Generating Station (SONGS) in 2013 and now the planned closure of Diablo Canyon Nuclear Power Plant in 2025.
SONGS provided about 20% of the power to large portions of Southern California, huge amounts of baseload, carbon-free electricity that has now been removed from the system. "We are supposed to be adding zero carbon sources, not subtracting or simply replacing by building to just kind of tread water," warns the U.S. Secretary of Energy, Dr. Ernest Moniz.
Higher CO2 Emission Reduction Goals Favor Nuclear
Sources: IEA; JTC
Nuclear power stations are the workhorses of the electricity system, relentlessly churning out electricity day and night, year in and year out. Nuclear power provides continuous and reliable electricity production, which crucially allows for the expansion of other forms of power generation that operate intermittently, namely wind and solar. Nuclear as a backup for renewables is significant because it maintains no-carbon production.
Advanced nuclear plants have uniquely high capacity factors of 90% and above and are the dispatchable sources of energy that can be utilized on demand. Nuclear plants are now expected to operate for 60 years and even longer in the future. This dependability gives nuclear a clear advantage over wind and solar in our national and global goal to cut GHG emissions. "China-U.S. cooperation to advance nuclear power."
To illustrate, just take the European Union, which has become the cited model for climate change policies. The EU has been installing the best nuclear plants, and nuclear now actually generates 28% of power, but accounts for just 13% of power capacity, a "punching above its weight" that verifies nuclear's awesomely high reliability. In France, nuclear generates a whopping 75-80% of power.
Indeed, beyond being carbon-free, nuclear generates massive amounts of power. Arizona's Palo Verde Nuclear Power Plant, for instance, is the largest power plant in the U.S. by net generation. All three Palo Verde units individually ranked among the top six producers in the country, generating a combined 30-35 TWh a year and serving the needs of four million people. This is as much power as generated by the state of Massachusetts, from all sources.
Globally, the average nuclear power plant provides about 5.7 TWh of electricity, which would take 2,000 modern wind turbines to generate. But, the more technologically-advanced U.S. shows what could and should be: the average nuclear plant in the U.S. pumps out 8 TWh per year, or more than 40% above the global average.
Nuclear is More Reliable Than Wind or Solar (Global Power Market)
Sources: IEA; JTC
China and India, of course, will be leading the race for increasing amounts of nuclear power. And Accenture reports nuclear is much cheaper in Asia. These emerging giants realize the importance of more electricity: Indians still use just 5% and Chinese 30% of the electricity that we Americans use.
There is a fundamental attractiveness to use as much nuclear energy as possible. There are still drastic power shortages in China and especially India that block economic growth and the improvement of national living standards. And very importantly, more nuclear power would immediately help upgrade urban air quality, India's cities swell by 12-15 million people a year and China's by 18-20 million.
By 2050, India wants 25-30% of its energy to come from nuclear, a boom from 2% today. Westinghouse plans to build six reactors in India by 2030, with an estimated total cost of $20 billion. The nuclear build-out couldn't come soon enough: over 700 million Indians lack access to modern energy (here).
China has 33 nuclear reactors operating with a capacity of 29,000 MW and 23 new plants under construction with a capacity of 23,000 MW. "China Shows How to Build Nuclear Reactors Fast and Cheap." And "it seems as though 5 years and about $2 billion per reactor has become routine for China." China is expected to about double its nuclear capacity by 2020 alone.
The developing nations like China and India will be helped by the creation of the very important Small Modular Reactors (SMRs) market, which installs smaller size units of 300 MW or less that can be easily transported by truck or rail.
SMRs are critical because they can be built faster, which significantly cuts costs: the longer a nuclear plant takes to build, the more it costs. This short construction phase of SMRs make them attractive for investors because they can start to generate revenues in less than three years (here).
In short, nuclear power gains market share the more a country evolves and becomes more developed. This is a very vital concept because all countries seek to "evolve and become more developed." For example, in the OECD, which encompasses the richest nations, nuclear is nearly 20% of power. But, in the non-OECD, which encompasses the poorest nations, nuclear is only 4% of power. Thus, nuclear power can only grow.
In a world where 6 in every 7 humans still live in an undeveloped nation, and literally billions of people still suffer from a lack of adequate access to power, policies that benefit an expansion of carbon-free and highly reliable nuclear electricity must become the norm.
I'd argue the world's greatest problem: every day, desperate Sub-Saharan Africa, for instance, adds 68,000 children that don't have access to electricity.
Fortunately, the world has a 100-year supply of uranium, compared to 51 years for oil and 53 years for natural gas, although I've already shown how "proven reserves" is a scarily oversimplified concept (here). Indeed, even 100 years is an underestimation of future uranium supply, which will continually increase as exploration continues: proven global uranium resources increased by at least 25% in the last decade due to increased mineral exploration.
China and India Lead the Race to More Nuclear Power...
Sources: IEA; JTC
Because Nuclear is Carbon-Free AND Cheaper
Sources: Accenture; JTC
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13004fef9487f46bd620fa724b5d85de | https://www.forbes.com/sites/judeclemente/2016/10/11/the-great-texas-wind-power-boom/?sh=29a3f69dc6aa | The Great Texas Wind Power Boom | The Great Texas Wind Power Boom
The Roscoe Wind Farm in Roscoe, Texas, owned/operated by E.ON Climate & Renewables is one of the... [+] world's largest wind farms. It has 634 wind turbines and a total installed capacity of 782 MW. Source: Recharge News
It was a predictable result, and one that confirms a widely held misconception on Green Energy leadership. My Google search just yielded: "wind power California"...7.3 million responses...."wind power Texas"...5.6 million responses.
But, you should know that Texas produces about four times more wind power than 3rd place California and three times more than 2nd place Iowa. Pretty amazing for Texas, an energy juggernaut that also supplies about 28% of our natural gas and 37% of our crude oil. Texas has surged its wind power capacity 80% to 18,000 megawatts since 2010, with actual wind generation more than doubling over that time.
There are more than 10,000 wind turbines in Texas, and at times last winter, wind supplied 40-50% of the state’s electricity. The Great Texas Wind Boom has all come without much help from legendary Texas oilman T. Boone Pickens, who backed out of his grandiose wind plans in the state.
Texas now produces more wind power alone than 25 U.S. states produce from all power sources combined!
Although you can read "6 Reasons Why Texas Leads the Nation in Wind Power" for yourself, one advantage for Texas is that it's the only U.S. state with its own power grid, the Electric Reliability Council of Texas, or ERCOT, which covers about 75% of the state.
This means that new investments and building long-distance transmission lines are done as lawmakers and state regulators see fit, in contrast to the political fighting that often block other ambitious long-distance transmission projects that must cross state lines. "Building wind farms is easy. Transmission lines are tough."
Yet, more large-scale transmission projects are critical for more wind because the best wind locations are generally remote from the high consuming cities. Take Texas, which spans a whopping 820 miles across and where the western half of the state is the wind haven: Austin, San Antonio, Houston, and Dallas are all in the eastern half.
Texas though wisely has a very diversified power portfolio that maintains critical reliability as more and more wind is added. A massive local supply of natural gas, for instance, can help backup Texas wind power when the wind isn't blowing. Gas peaker plants stand ready to be immediate backup power that can go from stop to full power in 10 minutes and shutdown when the wind starts blowing again.
Gas accounts for over 60% of Texas's power capacity, but has generated about 50% of the state's power. To also help flexibility, The Brattle Group advises Texas policymakers to establish "a regulatory framework that will allow the state to capture the full value of deploying grid-integrated electricity storage."
Amazon and Johnson & Johnson are two of a growing number of companies getting involved with wind power in Texas. Amazon wants to build a wind farm that will yield a million megawatt hours of electricity a year, enough to power 90,000 homes (here). For many, Texas is a model for the rest of the country. The U.S. Department of Energy’s 2015 report “Wind Vision” set a goal of getting 35% of all electricity in the country from wind in 2050, up from about 5% today.
Gallery: America's Top 10 Givers Of 2015 11 images View gallery
In 2014, Texas unveiled the Competitive Renewable Energy Zone (CREZ), a $7 billion transmission line project spanning 3,600 miles that can send huge amounts of wind power in west Texas to the power-hungry cities. West Texas sits at the bottom of a wind corridor than runs through the Great Plains and on up into Canada. This is why the National Wind Institute is at Texas Tech University in Lubbock.
With wind power playing an increasingly greater role in Texas' electricity portfolio, one problem has been... too much of it. The system can get overloaded when wind is supplying too much power at times when demand is lower. EIA reports how CREZ has helped led to "fewer wind curtailments and negative power prices."
To compensate further, Texas will be building even more infrastructure, such as the Panhandle Renewable Energy Zone (PREZ), but overall is taking a cautious view of further transmission projects. And Texas will be exporting more of its power: Xcel has a $400 million project to build lines that can reach New Mexico or other neighboring states.
The U.S. southeast in particular could use excess wind power from other states because none of them has the wind power capacity that will be critical as more laws like the Clean Power Plan are enacted to reduce emissions (here).
The Importance of Wind Power in Texas Continues to Increase
Sources: EIA; JTC
From 2005-2015, wind power in Texas increased 11-fold and extended its share of power generation from 1% to 10%. Not surprisingly, emissions have plummeted. This is a very important evolution for a state such as Texas that has an inherent need to use more electricity than others. And a fast-growing economy means more electricity: Texas' power demand has surged 15% since 2009, unique because most states' consumption has flatlined or even fallen from The Great Recession.
For example, in July, the average temperature in Houston is 85°F, compared to 72°F in Los Angeles. No wonder then that Texas uses more electricity per person: 97% of Texas homes use electricity, compared to under 60% in mild California. This year, Texas will produce about 450 TWh of total power from all sources, which is more than Virginia, New York, and Pennsylvania will generate together.
Moreover, Texas is also looking to become a leader in solar power, despite no uniform net metering system in place. At 10th place in solar capacity last year, Texas could reach 2nd place behind California. End of 2015, Texas had 535 Megawatts of solar capacity that could power nearly 60,000 homes, but still meaning that Texas has nearly 35 times more wind capacity than solar. With much in ERCOT's queue, Texas could have 4,800 megawatts of solar capacity by 2020.
And very importantly, on top of soaring wind power and falling emissions, Texas has been able to retain its low cost advantage. Wind, for instance, can have a lower variability costs and prices are falling thanks to lower-cost wind turbines that are taller and have better blades. Texas has been installing some of the most advanced wind farms, where every 1,000 turbines in the state generate over 6 TWh, which is nearly double the national average. And remember: wind power has no fuel costs: "Ten Wind Energy Benefits."
Texas has residential power rates that are about 10% LESS than the national average. Industrial power rates are about 20% LOWER than the national average, which helps explain why Chief Executive magazine repeatedly ranks Texas as "the best state for business" (here).
And More Wind Power Has Helped Slash Power Sector GHG Emissions
Sources: EIA; JTC
A Comparison of California and Texas Power Systems in 2015
Sources: EIA; SEIA; EERE; JTC
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f2a545264b25ecc3870a3f5468e1a26a | https://www.forbes.com/sites/judeclemente/2018/06/14/its-high-time-to-approve-enbridges-oil-pipeline-replacement-plans/ | It's High Time To Approve Enbridge's Oil Pipeline Replacement Plans | It's High Time To Approve Enbridge's Oil Pipeline Replacement Plans
TORONTO, CANADA - 2014/06/20: Enbridge, Inc. is an energy delivery company based in Calgary,... [+] Alberta, Canada. It focuses on transport and distribution of crude oil, natural gas, and other liquids. (Photo by Roberto Machado Noa/LightRocket via Getty Images)
The Issue
Unfortunately, the infrastructure build-out needed to support our shale oil and natural gas boom has faced pushback. The latest tangle that I have been following is in Minnesota, where the "Canadian multinational energy transportation company" Enbridge's Line 3 replacement project faces a lengthy delay if regulators deny the firm's preferred pipeline route through the state. Line 3 is a 1,097-mile pipeline that runs crude oil from the province of Alberta in western Canada to Wisconsin.
In service for 50 years now, Line 3 has been operating at just half of its capacity due to integrity concerns, and a replacement would allow the artery to return to shipping a full 760,000 barrels per day. Bottlenecks in Alberta have plunged the price of its heavier crude versus other grades, so producers in the region can't realize fair gains on their oil production due to insufficient pipeline capacity. The Minnesota Public Utilities Commission is expected to determine the fate of Line 3 later this month, deciding if the $7 billion project is needed and what route it would have to take.
Enbridge prefers a new route that bypasses an indigenous reservation and ecologically sensitive areas, while also helping to avoid supply disruptions. The company wants to start construction in Minnesota in November, but a forced alternative route would require more analysis that would set back plans for Line 3 to start by late-2019. In contrast, an Enbridge victory would help Canadian oil shippers and northern U.S. refiners. Line 3 means a $2.5 billion investment in Minnesota, more jobs, more energy security, and less crude transported by rail (the more costly and less safe option to ship oil, still easily our most vital source of energy).
I don't want to make this post too long, but also know that not just Line 3, Enbridge has also faced a fight and a thousand hoops in its Line 5 replacement project in Michigan, where company and state are in agreement on laying out a new path. Enbridge is expected to release a report on Line 5 tomorrow, hoping to replace it with a new pipeline in the Straits of Mackinac surrounded by tunnels. Approvals for Enbridge's replacement projects would support our need for more infrastructure to enhance our place as the world's most important oil and gas producer, able to even buffer the influence of OPEC and Russia - a clear victory for American businesses, families, and environment.
More Pipelines Required
Pipelines are essential to delivering the energy that Americans need every day. They are easily the safest and most economical way to move oil and gas around the country and are monitored daily by state-of-the-art technologies that safeguard our society. There are a few critical things to understand about Enbridge Line 3 replacement in particular:
Line 3 has undergone an exhaustive, transparent three-year review process with input from local stakeholders. Enbridge has worked with indigenous communities to support tribal economic development and to ensure that the preferred route respected tribal lands. An administrative law judge in Minnesota has already said the pipeline is needed. "Why we need to replace Enbridge Line 3."
Like roads and bridges, pipelines are part of the basic infrastructure needed for U.S. communities to thrive. More oil links are crucial across the nation and even across the continent to create an energy security bloc for Canada, the U.S., and Mexico. In a world where China and Russia are collaborating on oil and gas deals and Iran seeks to supply booming India, we must enhance our own energy security with the infrastructure that we need. Connections to Canadian energy firms like Enbridge are especially important: "Canada is North America's Great Oil Security Blanket."
As our transport system ages, more pipelines need to be replaced to ensure the integrity of the system and protect the environment. The reality: "Saying ‘No’ to a pipeline is saying ‘Yes’ to rail,” which will “increase the risk to the environment and human health and not decrease it.” It’s only fair that “non-oil and -gas producing but oil and gas consuming” states like Minnesota and Michigan do their part to help the nation as a whole: oil and gas supply 65% of the energy that allows our $20 trillion economy to function.
Not building pipelines will ultimately mean exactly what it has meant elsewhere: higher prices for families and businesses. Not to mention that New England's lack of pipelines, for instance, forced it to import natural gas via LNG this past winter from Russia, despite sanctions on the project from which it came. I implore Minnesota, Michigan, and the rest of the west and east north central regions not to follow the higher cost, less energy secure model that New England and New York have unwisely installed - a self-imposed energy crisis.
Being anti-pipeline has one simple end result: higher prices. Data source: EIA
Commitment to Safety, Environment
Extracting and transporting oil and gas is about as challenging an endeavor as there is, which is why majoring in petroleum engineering is the highest paying. As noted by the Congressional Research Service, "with such widespread use and nonstop movement, it is inevitable that some number of spills will occur," but safety is a core value in the oil and gas business that is required for competitive success. There's no choice for it not to be. Every day, industry must contend with an array of health, safety, and environmental concerns that surround an increasingly complex and globalizing business environment. In the face of more regulatory oversight, as well as increased public scrutiny, producers know that effective safety management systems help protect the workers, general public, and environment.
Too often, our national discussion on extracting and moving oil and gas focuses on fear, not facts. Case in point: "Study finds no evidence of groundwater contamination from fracking." It's hard work, but oil and gas companies have a clear vested interest in being as safe as possible. In addition to expensive lost product and damaged reputation, it costs about $250 to clean up a single gallon of crude oil. The 2010 BP Deepwater Horizon spill has cost the company more than $65 billion.
As for impact on the environment, our policymakers must know that pipelines are less intrusive than the wind and solar farms (especially offshore wind) that are promoted by environmental groups, despite being hugely expansive and needing great swaths of land. This explains why siting wind and solar projects has been so contentious, even among environmental groups themselves: "Efforts to reduce wind energy impact to wildlife prompts controversy." In Minnesota: "Judge's ruling against Minnesota wind farm causes alarm for advocates." Even in the most green-tinted state where federal environmental permits had already been granted: "California solar project shot down."
Enbridge's annual report shows a commitment to safety, environment, and sustainability. Data source: companies
Source, latest Annual Reports: Enbridge; Greenpeace (note: results are from a "find" on my iMac Pro)
Jobs, Economic Benefits
America's shale oil and natural gas boom has been a boon (aka "the shale gale"). Abundant domestic energy has created jobs, spurred a manufacturing renaissance, enhanced national security, reduced household and business energy costs, and even driven environmental progress — with U.S. carbon emissions plunging to 25-year lows thanks to greater use of clean natural gas. Americans: "Support Your Local Oil and Natural Gas Company." Policies to encourage growth in the oil and gas sector are critical, or else we will dangerously gift the market to OPEC and Russia. Not to mention that policies like tariffs and quotas are already putting external price pressure even if projects do get approval. IHS Global projects 1.9 million new jobs for our country in the oil and gas business by 2035. Enbridge's line replacement projects exemplify the tremendous benefits that we must realize. Line 3 would:
Create 8,600 jobs in Minnesota over a two-year period, most of which will be filled locally. Offer a $2 billion lift to the Minnesota economy during design and construction, with $1.5 billion of that in Enbridge spending alone.
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74f2a66a5b949e1144bcc3ccbc4ff1b8 | https://www.forbes.com/sites/judeclemente/2019/05/26/america-must-build-more-natural-gas-storage-capacity/ | America Must Build More Natural Gas Storage Capacity | America Must Build More Natural Gas Storage Capacity
The skyline of Pittsburgh, Pa. at night. (AP Photo/Genme Pushkar) ASSOCIATED PRESS
Lack Of New Natural Gas Storage Capacity
Natural gas of course is increasingly our go-to fuel to grow the economy, reduce greenhouse gas emissions, backup wind and solar, and be our essential energy source to export to a mostly poor and energy-deprived world.
This ongoing U.S. "Dash to Gas" ensures a known necessity for us: we need more geological sites to store natural gas to meet the ebb and flow of demand.
Since the shale revolution took flight in 2008, U.S. natural gas prices have remained low and stable (see Figure below).
While this is great for American families and businesses, it's made building new gas storage capacity less of a priority.
Literally, this reduced incentive for gas storage has been the only negative of the U.S. shale boom
But, not building new storage capacity has been a logical decision.
Storage facilities are a primary tool to mitigate price risks and used by pipelines to maintain operational flexibility and system balance.
The spikes in pricing, particularly in the cold winter months when demand spikes, have greatly subsided.
A flatter price trend makes it harder for storage operations to make money, a business that is about "buying low and selling high when prices go up."
As a result, almost all pending new storage projects and capacity expansions have been delayed or canceled.
U.S. natural gas prices have been low and stable in the shale boom era since 2008. Photo Credit: EIA
Meanwhile, U.S. natural gas production and use continue to surge to record heights every year (see Figure below).
The constant reality for the U.S. gas market and prices is record production colliding with record consumption.
Our domestic usage comes from more power and industrial demand mostly.
In the Shale-Era since 2008, U.S. gas production has increased 60%, demand is up nearly 35%: yet, gas storage capacity has grown just 14%.
Over the past decade, U.S. natural gas production and demand have surged but our capacity to store... [+] gas hasn't. Data source: EIA; JTC
Wind And Solar Are Intermittent
Perhaps our most fundamental energy fact is that natural gas will continue to play a central role in the U.S. electric power system.
That's because as we continue to seek ways to cut greenhouse gas emissions, the harsh reality for some is that wind and solar are intermittent sources of power, unavailable most of the time (capacity factors only around 30% even on good days).
It's something that cannot simply be wished away: the intermittency of renewable generation will require flexible, fast-ramping generation.
As such, the obvious requirement to backup these renewables was, is, and will continue to be very flexible, economical natural gas peaking plants.
"Natural Gas Is The Flexibility Needed For More Wind And Solar."
Gas will be what provides electric grid reliability, namely via load and generation profile following, frequency regulation, backup power, and spinning reserves.
Obviously, battery storage is growing in importance, but these systems don't fully support the full range of flexibility needed, including for seasonal and daily variations.
Thus, batteries cannot displace gas-fired generation, which is uniquely suited to mitigate the intermittency of renewables.
It's no wonder then that EIA says gas will easily supply the most amount of incremental capacity in the coming decades, at 235,000 megawatts.
For perspective, this is a whopping 10 times more than what onshore wind will give us.
This all means that we are actually in the early stages of unprecedented growth in natural gas being produced and used in the U.S (see Figure below).
So, our power system itself could easily face severe supply constraints if no incremental infrastructure is specifically built for the electricity sector.
This clearly centers on building more sites to store natural gas.
For reference, depleted fields account for over 80% of working gas storage capacity.
U.S. natural gas production and demand are expected to continue to surge. Data source: EIA; JTC
Rising Gas Exports
Besides the shale revolution itself, our LNG export boom to the world is probably the most transformative change for the U.S. gas market in its history.
This is a new dynamic that really kicked off back in February 2016, and we will become the third largest seller this year and lead the market by 2024.
It will be U.S. suppliers along the Gulf Coast that will be called upon to support potential global supply disruptions.
This will surely extend utilization of the region’s storage facilities.
As our LNG suppliers are forced to react to international events (e.g., freezing cold winters in Asia that need gas for heating), the boom in exports will add a variability to the market that more U.S. gas storage will need to buffer.
In other words, there will be even greater portions of U.S. demand (and remember that exports are a baseload demand market) that cannot be regularly predicted.
This will make it harder on producers to plan ahead of time, making gas storage even more crucial to our market.
Without new gas storage capacity, our market could drastically (and needlessly) tighten
Moreover, exports will be seasonal, making new capacity that much more vital.
In total, LNG exports are the driving force behind what could be a ~25 Bcf/d increase in U.S. gas demand over the next six to eight years.
And we should be encouraging all of this: gas exports offer us massive economic, environmental, and security benefits for us.
U.S. natural gas exports are a moral imperative, helping an overwhelmingly poor world get access to modern energy while also reducing greenhouse emissions.
"COP21 Means More Natural Gas and the U.S. Must Help."
In particular, as a newer major player in our gas market, Appalachia (WV. OH, PA), now producing nearly 40% of our gas, must see major new investments to not just build more pipelines but also to build the gas storage sites to meet the growing needs of Appalachia itself and the other states and even countries that are increasingly relying on it.
The good news?
The U.S. government is wisely prioritizing the gas storage issue: "Secretary Perry Announces Appalachian Ethane Storage Hub Report."
Please follow Jude on Twitter.
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ad23399de503deb20927edcdfee19a84 | https://www.forbes.com/sites/judeclemente/2020/04/12/another-record-year-for-low-cost-us-natural-gasand-why-thats-good-news/ | Another Record Year For Low-Cost U.S. Natural Gas - And Why That’s Good News | Another Record Year For Low-Cost U.S. Natural Gas - And Why That’s Good News
WALNUT CREEK, CA: OCTOBER 23: PG&E workers replace a power pole on a hillside at the Rossmoor senior ... [+] community in Walnut Creek, Calif., on Wednesday, Oct. 23, 2019. PG&E replaced the pole, which had been the source of several small fires, after outcry by Tim O'Keefe, chief executive officer of the Golden Rain Foundation and manager of Rossmoor. (Photo by Jane Tyska/MediaNews Group/The Mercury News via Getty Images) MediaNews Group via Getty Images
First, please read my colleague’s critically important article that you might have missed: “How These Relatively Unknown COVID-19 Workers Affect Millions In A Crisis.” Stay safe.
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“Natural gas is one of the mainstays of global energy...it improves air quality and limits emissions of carbon dioxide,” Dr. Fatih Birol, Executive Director, International Energy Agency, 2019
I knew I was right. U.S. Department of Energy data is out and 2019 was another record year for U.S. natural gas demand and marketed production, respectively at ~86 Bcf/d and ~100 Bcf/d. For this post, let me focus on gas-based electricity, a sector that leads by accounting for 35-37% of our total gas use.
At 31 Bcf/d, gas “power burn” set another record in 2019, a 40% leap from 2014. At 1,600 TWh, gas now provides ~40% of U.S. electricity. What makes the rise of gas in the power sector even more amazing is the fact that our electricity demand has remained flat for a decade, at ~4,050 TWh. Even in green California, the renewable leader that has long done all that it can to “get off gas,” gas supplied 42% of the state’s generation in 2019 (85 TWh of 205 TWh) - extremely telling given how much money and policy has been deployed to force wind and solar.
Now, COVID-19 has combined with a very mild winter that has kept U.S. gas prices below $2.00/MMBtu since mid-January. Along with gas being a low-emission and cleaner fuel, such low prices obviously incentivize more use. The U.S. Department of Energy just reported our reality: “Low natural gas prices and capacity additions drive 2020 power burn growth in the first quarter.”
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With some 14,000 MW of coal retirements in 2019, and since hotter temperatures often drive down the availability of wind power, I am calling summer again: “Nonstop Records For U.S. Natural-Gas-Based Electricity”- just like I did early last year.
Natural gas accounts for 45% of U.S. power capacity. And such low prices encourage more demand, ... [+] especially since gas is a low-emission cleaner fuel. Data source: EIA; JTC
Looking forward, the lower greenhouse gas emissions and higher flexibility that gas brings to will remain integral to the U.S. electric power system. After all, how did “Climate Week Completely Missed The Boat On Natural Gas.”
Yet, it is such a low-cost portfolio that is probably natural gas’ biggest advantage - unsurprisingly going underreported. Low energy costs must be stressed at all points by all of our leaders. That is because as much as 83% of U.S. economic growth can be attributed to disposable income - our GDP driver that higher electricity costs erode because electricity is the ultimate indispensable good (“it cannot not be used”).
Even more vital for our leaders to understand, higher energy costs are dangerously regressive, hurting the most vulnerable the most. Low-income Americans spend three to seven times more of their incomes on heating, electricity, and transportation than do high-income Americans. This is particularly devastating for our African-American and Hispanic communities, where poverty rates are substantially higher (Figure).
Cheap energy from natural gas (and oil) has been perhaps our country’s greatest competitive edge for business. In fact, just last year the U.S. Department of Energy credited the shale gas boom as saving America from a recession. The Henry Hub gas benchmark price has been below $1.80, and all monthly contracts though 2030 below ~$2.80 per MMBtu. These are insanely low long-term prices that will swamp out all competition including renewables. And the reality is that “Low U.S. Natural Gas Prices Lock In More Demand.” For comparison, in the pre-shale era 2000-2008, gas prices averaged above $6.00.
Low gas prices over the long-term surely comes as no surprise: the U.S. Department of Energy has consistently forecast our new gas production outpacing our new gas demand by about a 2-1 margin for decades to come. Thankfully, low-cost gas has directly handed us low-cost electricity. As explained by the U.S. Department of Energy just a few weeks ago:
“Wholesale electricity prices are closely tied to wholesale natural gas prices...one can often explain current wholesale electricity prices by looking at what is happening with natural gas prices.”
Finally, the truth is that the U.S. Department of Energy classifies wind and solar as “non-dispatchable technologies.” This means that they are typically unavailable for deployment, thereby making cost comparisons between them and dispatchable systems like natural gas fundamentally flawed. And unfortunately, such as the real-life needs for renewables to have more long distance, high-voltage transmission lines built, along with their need for a backup generating source that usually comes from gas, certain short-comings for renewables are almost never factored into these analyses.
Simply put, we are installing a gas and renewables only power system but gas will clearly lead the way. Our mobilization to the COVID-19 crisis is showing just how invaluable very reliable and affordable energy like natural gas really is.
Higher poverty rates for minorities demand the low-cost American energy supply system that natural ... [+] gas continues to bring. Data source: KFF; Axios, JTC
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8531ea38b78331e09343cfcecfd2f316 | https://www.forbes.com/sites/judithward/2021/04/05/women-and-money-top-10-financial-goals/?ss=personalfinance | Women And Money: Top 10 Financial Goals | Women And Money: Top 10 Financial Goals
As women, we face unique challenges in the workforce, such as the gender pay gap, which can limit our resources and the amount we're able to save. And the economic difficulties resulting from the pandemic have exacerbated these challenges, affecting women more than men. With 2020 behind us and hope on the horizon—thanks to the COVID-19 vaccine—now may be good time to revisit our financial goals. Here are my top 10:
getty
10 – Buckle down and budget
Have your spending patterns changed over the last year? Do you anticipate they will continue as they currently are, or will you make changes as restrictions ease? Maintaining a budget or spending plan can provide you with a framework to track your income and expenses and to help you determine ways to accommodate your savings goals. Developing a budget can be empowering—providing you with the information you need to make saving and spending decisions. There are plenty of online tools and apps that can help you with budgeting—some are free, and some aren’t. You can always use an old-fashioned spreadsheet if that’s more your style.
9 – Ditch your most expensive debt
If debt is getting in the way of you reaching your savings goals, target the real culprit first—high interest credit card debt. This is the debt that can likely cost you the most. You may have to make spending and saving sacrifices to eliminate it and having an up-to-date budget can help you make these adjustments.
8 – Have money on the side
Last year illustrated how fast unexpected events can disrupt our lives and finances. Many people were (and still are) out of work through no fault of their own. Having money on the side—an emergency fund—can act as a personal safety net to help you get through financial hurdles, such as a period of unemployment or an unbudgeted large expense. We recommend saving an amount that could cover three to six months of your typical expenses in an account that’s easily accessible—such as a bank savings or money market account. Money on the side also gives you the freedom and flexibility to make changes in your life, such as pursing a new career.
7 – Shared financial objectives
Many couples tend to “divide and conquer” when it comes to the finances. One spouse or partner may take care of the day-to-day finances while the other handles the longer-term investments. This is understandable, as it’s efficient and couples generally tend to trust each other. However, it’s important that couples have shared objectives and are transparent with each other. What are the key financial objectives for your household? How are you tracking toward each of those objectives, whether it’s paying down debt or saving for short- and long-term goals?
It’s also important to understand each other’s spending style: Are your savers or spenders? Just being aware of your financial tendencies can help you make any necessary adjustments. Reviewing a budget as a household can help make sure your objectives are in line with your values.
6 – Make saving for retirement a priority
Most likely, many of us will be reliant on a combination of Social Security benefits and personal savings to fund a retirement that could last decades. Keep in mind that, statistically, women live longer than men, so it’s imperative that we are adequately prepared. At T. Rowe Price, we suggest saving 15% of income for retirement (that includes any company match). As a household, determine how you could work this saving goal into your budget, taking into consideration the retirement accounts available to you.
If there is a primary earner in your household or if only one spouse has a workplace plan, for example, it may make sense for much of the responsibility for retirement savings to fall to one spouse. You may also be able to supplement workplace savings with individual retirement accounts and taxable accounts. Even though retirement accounts are individualized by nature, they should still be viewed as a shared financial objective.
5 – Plan for the “what ifs”
The what ifs in life are not fun to plan for, but it is a necessity. Financial disruptors tend to affect women harshly, whether it be divorce, disability, unemployment, or the death of a spouse. This could also include caregiving for children, a spouse, or aging parents—in which case women are more likely than men to leave the workforce or alter their careers.
In preparation for these possibilities, women should also be sure to pay attention to their credit standing. Establish your own credit history and only take on joint debt when necessary, such as a mortgage.
4 – Protect your household
Ensure that there is adequate life insurance, disability insurance, health insurance, and liability insurance for the benefit of the household. Especially if there is a primary earner, make sure there is enough life and disability insurance to support the family should something happen. At the same time, consider the insurance needed to replace the contribution of the at-home spouse who runs the household but doesn’t earn a check. There would be costs associated with these activities if they had to be outsourced.
3 – Protect your family’s future
Make sure your estate planning documents are complete and up to date—and remember, estate planning isn’t just for the wealthy! Your estate plan should include a will that names guardians for minor children, names a financial power of attorney and a power of attorney for health care (people that can make financial and health decisions for you if you are unable), and provides an advanced directive (where you state your health care wishes).
Also important are the beneficiary designations for retirement accounts and life insurance, for example, as these types of assets pass outside of your will.
2 – Continue having money conversations
I mentioned earlier the importance of shared financial objectives and the need to understand the entire picture of the household finances. Having regular conversations to understand your household’s finances is key to achieving your shared financial objectives. Be intentional and work time for these discussions into your calendar. It could be a finance Friday date night—or a quarterly finance summit. Try to have some fun with it.
Also, continue your own learning to improve your financial acumen. Whether it’s a book, podcasts, or financial bloggers. A good place to start could be financial wellness resources provided by your employer or workplace retirement plan. Keep learning.
1 – Take care of your health and well-being
You should be your number-one priority. As women, we tend to put everyone else’s needs before our own. If we learned anything over this past year, it’s how important our health is—and I would suggest that our well-being has been challenged, too! This isn’t a financial objective, but it’s a life objective—and we deserve giving ourselves that attention.
This material is provided for general and educational purposes only and is not intended to provide legal, tax, or investment advice. This material does not provide recommendations concerning investments, investment strategies, or account types; it is not intended to suggest that any particular investment action is appropriate for you. Please consider your own circumstances before making an investment decision.
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5b443d4e01c63b9d88780525b63bdb73 | https://www.forbes.com/sites/judykoutsky/2020/12/02/mohonk-mountain-house-multigenerational-family-fun-in-new-yorks-hudson-valley/ | Mohonk Mountain House: Multigenerational Family Fun In New York’s Hudson Valley | Mohonk Mountain House: Multigenerational Family Fun In New York’s Hudson Valley
Mohonk Mountain House is a four-season vacation destination. Credit: Mohonk Mountain House
Located in the heart of the Hudson Valley, Mohonk Mountain House looks like a castle in a fairy tale. It dates back to 1869—it’s more than 150 years old and is still owned and operated by the same family since its genesis—the Smiley Family. The hotel is currently run by the fifth generation. Famous guests include Bill and Hillary Clinton, Andrew Carnegie, John D. Rockefeller, Jimmy Fallon, and Stephen King. The property has been recognized as a National Historic Landmark.
This historic property is a great all-inclusive vacation offering three meals a day, plus dozens and dozens of activities. It’s location 90 miles from New York City attracts many people from the tristate area. With so many activities based in nature, the property is a big draw for couples and families all year long.
Travel During Covid
The holidays are a popular time at Mohonk. Extensive Covid protocols are in place. Credit: Mohonk Mountain House
The resort has a variety of Covid-19 protocols in place. There are temperature checks upon check-in. Face masks are required in all public places. Mohonk has also formed a team of “touchpoint cleaners” that sanitize high-touch areas throughout the day and enhanced the air filtration system to keep guests safer. Daily housekeeping and nightly turndown is available upon request only.
Guests currently dining at Mohonk will enjoy full table service for breakfast, lunch, dinner, and weekend brunch with reduced indoor capacity. For those who prefer to dine in their rooms, Mohonk is also offering complimentary room service with contactless delivery. Mohonk also launched a new Marketplace dining option at the East Dining Room. Hotel guests can take dishes to go, including soups, pastas, and sandwiches—and they can eat outside on Lake Mohonk or on their balcony overlooking the Catskill Mountains.
The Rooms
A Victorian Tower room Credit: Mohonk Mountain House
The property has 265 guest rooms and suites, five cottages, and the Grove Lodge, which has six guest rooms and a great room. Grove Lodge opened in 2016 and was the resort’s first new accommodations in more than 100 years. Nestled on the northeast side of the property, it’s great for large families, groups of friends, or anyone who wants to be in their own private accommodation.
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There are several different categories of rooms. One of the most popular is the Victorian-style Tower Rooms, featuring wood-burning fireplaces, a combined sitting area and bedroom, and a private balcony with rocking chairs. Firewood can be sent to your room upon request and the Mohonk staff will start the fire for you. There are also traditional standard rooms and a variety of suites. (Some of the latter have claw-foot baths and multiple balconies.)
The Food
Travelers can eat their meals in the dining room, al fresco or they can order room service and eat ... [+] in their room or on balcony. Credit: Mohonk Mountain House
Mohonk’s food and beverage program features local, fresh ingredients sourced from the Hudson Valley whenever possible. The culinary team is committed to serving chef-driven dishes that include in-house dry-aged meats as well as house-made pastas, chocolates, pastries, and more. Fan favorites include the crab cakes, glazed beef short ribs, pan-seared branzino and tiramisu cheesecake. They also have a kids’ menu with grilled cheese, spaghetti and meatballs, mac and cheese, and fruit with yogurt.
The Spa
The spa wing has an indoor heated pool. Credit: Mohonk Mountain House
Mohonk’s award-winning spa celebrates the surrounding beauty of the Shawangunk Ridge and features a nature-inspired treatment menu that utilizes natural ingredients. The spa is in its own separate 30,000-square-foot wing that features 16 treatment rooms, a solarium, an outdoor heated mineral pool, an indoor heated pool, a fitness center, and yoga/motion studio. The most popular massage is the Mohonk Muscle Rescue, which features arnica oil for sore muscles, deep heat compresses, flowing Swedish massage, direct pressure point work, and stretches to improve range of motion.
Activities and Programming
The Sky Top Tower is one of the most popular hikes on property. Credit: Mohonk Mountain House
What keeps families coming back to Mohonk year after year is the programming. There are 85 miles of trails for hiking, rock climbing and scrambling, and mountain biking. In the summer there’s seasonal lake activities such as swimming, paddleboating, kayaking , canoeing, and fishing. Plus, there’s golf, tennis, and horseback riding. In winter there’s ice-skating, cross-country skiing, winter hiking, snow tubing, and snow-shoeing. There is also archery; campfires with live music and s’mores; fitness classes; forest bathing; guided hikes; house history tours; lawn games, such as shuffleboard and croquet; meditation; mindfulness programming; outdoor movies; yoga; and tomahawk throwing.
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4a2145b79076c7a7a6d271eb01d099a5 | https://www.forbes.com/sites/judykoutsky/2021/02/24/6-surprising-food-choices-to-make-when-you-travel/ | 6 Surprising Food Choices To Make When You Travel | 6 Surprising Food Choices To Make When You Travel
Trying different foods is half the fun of traveling. getty
A common complaint from people returning from vacation is that their pants no longer fit. We talked to the experts on simple ways to enjoy your trip without tipping the scale. Try these six food hacks on your next travel adventure and you might just be surprised by the results.
Order seafood
This lunch on the beach in Seychelles is both healthy and delicious. getty
Skip the pasta and order the seafood. Why? “Most seafood contains a higher ratio of healthy, anti-inflammatory Omega-3s that you likely are not getting as much of while you are on vacation,” says Skylar Buchanan, a holistic nutritionist and certified integrative nutrition coach based in Las Vegas, Nevada. She explains that Omega-3s will help combat any inflammation that may arise from foods you are eating that are not a normal part of your diet.
Ask for modifications
Feel free to ask for substitutions when ordering. getty
Do you really just want a giant salad with a piece of grilled fish, but it’s not on the menu? “Most restaurants are happy to modify a dish to meet your needs,” says Buchanan. If they offer both foods on the menu, they will likely be more than willing to put that together for you. Do not be afraid to ask for what you need to eat healthy.
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Stop at the grocery store
Your first stop when you’re in your new destination should be the grocery store, so you can pick up some healthy snacks. Hard-boiled eggs are a great option. “Most grocery stores sell packaged hard-boiled eggs located near the rest of the eggs,” notes Buchanan. “These are the MVPs for traveling—no prep is required and they are healthy and full of protein.” Another good option is pre-cut veggies along with a single serving size of hummus.
Pair the right foods
Make sure to pair fresh fruit with cheese or nuts. getty
Berries, apples, and pears are your best options for snacking, says Alicia Galvin, RD and resident dietitian for Sovereign Laboratories, but always pair fruit with protein and fat to stabilize blood sugar levels. (Good options include nuts, nut butter, and hard-boiled eggs.) Make sure to eat balanced meals and snacks during the day. Galvin says aim for a fat + protein + fiber every time you eat. “So, for example, an apple with nut butter, a hard-boiled egg with avocado, or whole-milk Greek yogurt with a few nuts and berries. Try to avoid eating just a piece of fruit or snacking on chips or crackers as this will cause blood sugar to spike and then fall, leading to cravings and a tendency to overeat.”
Overpack healthy snacks
It's super easy to get dehydrated when traveling. getty
“Fueling your body consistently is so important, and you’re less likely to overeat if you stay fueled,” says Dr. Goglia, a certified nutritionist. A good way to do this is not to skip meals, but instead pack plenty of healthy snacks so you always have good food options at hand. Also, Goglia recommends that travelers—before their flight—buy the biggest water bottle they can find. This will encourage them to drink often during the flight. (If you bring your own water bottle, don’t be afraid to ask for refills). Drinking water is important every day, but especially important for people who are traveling. “Water enables nutrients to get to your cells, helps with swelling that can happen on long flights, and helps to create the proper balance of salts and bile in order to extract toxins in the form of waste products.” Which is a nice way of saying it keeps you regular and wards off constipation.
Plan Ahead
“Think about your meal schedule and options in advance so you are not making last-minute, impulsive choices while hangry and tired,” says Brenda Braslow, RD for MyNetDiary. She suggests that travelers pick a hotel or condo with a kitchen so you can prepare some of your meals yourself. Research in advance where the nearest grocery store is located so you can stock up on some healthy foods. “If you know you are going to splurge at a particular meal, lighten up the rest of the day and try to get some more physical activity in,” says Braslow. Plan activities that will keep you active, like walking tours, golfing, or bicycling. Also, it’s a good idea to download a calorie-tracking app and enter foods as you eat them. “It just helps you eat mindfully and make informed choices, even when you’re traveling.”
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4ad51b6758f75e94238742a50156a35a | https://www.forbes.com/sites/judykoutsky/2021/03/22/7-reasons-this-destination-resort-spa-should-be-on-your-travel-bucket-list/?sh=5f752e9b28f0 | 7 Reasons This Destination Resort Spa Should Be On Your Travel Bucket List | 7 Reasons This Destination Resort Spa Should Be On Your Travel Bucket List
Nestled at the foot of the Catalina Mountains, Miraval Arizona is celebrating its 25th anniversary. ... [+] Their repeat visitor rate is very high. Miraval Arizona
Situated north of Tucson, Miraval Arizona sits on 400 acres of scenic landscape at the base of the Catalina Mountains. This inclusive destination resort and spa is designed for living life in the moment—something many of us have come to cherish after the Covid pandemic of the last year. Miraval is ideal for those looking to discover their own sense of balance through mindful and holistic programming. Celebrating its 25th anniversary, the resort has a special package highlighting its top 25 experiences.
For visitors who have never been, here are some reasons to go.
Spa
The spa has a variety of facials, massages and body treatments. Miraval Arizona
Let’s face it, the reason most people travel to a destination resort spa is for the, well, spa. And even though Miraval is much more than a spa, there’s no mistaking that the draw for many is not only the treatments but also the spa facility, which is pretty fabulous. One of my favorite spots in the spa was the quiet room (which is also one of the rooms where you can wait for your therapist to get you for your treatment). The room has floor-to-ceiling windows that offer expansive views of the Catalina Mountains. It’s a great spot to read, take a little nap, practice mindfulness, or simply take in nature (when I was there, an owl’s nest, with a mom and her little owlets, could be seen). While I certainly had some amazing treatments, I also enjoyed sitting in the spa’s quiet room and really being present and mindful.
My room did not have views of the mountains (although many rooms do), so the spa’s quiet room was my special sanctuary; a place to take in the desert landscape and simply be present while taking in the beauty of the natural surroundings. I not only visited it daily during my stay, but I went multiple times a day (even for my own personal 20-minute gratitude meditation between my other classes).
The spa has an expansive menu of facials, massages, and body treatments. My two favorite treatments were the hot stone, which is always a lovely, relaxing treatment, and the neuromuscular massage. I had a horrible pinched nerve in my shoulder that was radiating pain all the way down my arm and into my fingers, and during the neuromuscular massage, my therapist went right to the trigger points and worked out the muscle. This massage is a specialized form of deep tissue that targets trigger points and areas of strain in the muscle. It was one of the best massages I’ve ever had.
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Digital Detox
The spa deck and the quiet room (located just behind the spa deck) are two favorite places to ... [+] digitally detox and take in nature. Miraval Arizona
So, the term digital detox often gets thrown around, but during Covid, this term has taken on a whole new meaning. With the world shut down and everyone on their devices pretty much 24/7, the idea of going to a resort that not only suggests you put away your devices but also actually goes so far as to create zones where you can and cannot use your device, is a real treat (most places were device-free zones). Before my visit, I was checking emails, texts, and social media constantly throughout the day (for both work and to stay connected), and my Miraval stay was a wonderful reminder of just how negatively impactful our devices can be. Instead of reacting to each ping from my phone (like Pavlov’s dogs), I left my phone in my room and focused on being in the moment. I instantly felt more present and less stressed.
Meditation
The labyrinth is a perfect spot for meditation. Miraval Arizona
A big part of Miraval’s draw is being present and mindful, and it’s not surprising that the meditation classes are a big hit. In a society where many people feel like their brain is on full-speed, there is a growing need to find ways to slow things down. The Miraval philosophy is that meditation is a powerful tool for not only restoring balance but also helping with matters ranging from physical pain and emotional blockages to burnout and cognitive chaos. One of the most popular classes is the floating meditation—it’s a Miraval signature and for good reason. Other options include singing bowl meditation, gratitude, and forgiveness meditation, and the Miraval Mindfulness class, which is a beginner’s guide to breathing and meditating.
Outdoor Adventure
The yoga desert hike is a popular excursion. Miraval Arizona
As a big hiker, I knew that I wanted to sign up for the daily hikes, but I was surprised at just how much I enjoyed each one. Different guides lead the hikes, and it was nice to talk to them about the flora and fauna of the region, as well as getting to know them on a personal level. Hiking was also a really nice and natural way for me to get to know my fellow Miraval travelers. There is something about hiking in nature that seems to allow people to open up and bond, and this is exactly what happened each day.
I especially loved the yoga hike. We hiked for an hour talking as we went, then did yoga for 30 minutes, then hiked back silently where we were encouraged to meditate and be present. The yoga portion was done on a beautiful spot surrounded by a variety of cacti, with the Catalina Mountains as our backdrop. The instructor encouraged us to go at our own pace—some were beginner yogis, some advanced. That’s one of the signature Miraval principles—they meet you where you are. There’s no pressure to be like everyone else.
Another great outdoor adventure option is called Out on a Limb. In this activity, a person climbs a telephone-like pole until they reach 25 feet above the ground, and then that person is encouraged to walk across a log to the other side (there’s nothing to hold onto, but the person is harnessed in case they fall). This activity isn’t so much about the physical crossing as much as it’s about what is either preventing you or motivating you to get to the other side. Like all Miraval activities, it’s about looking inside ourselves and figuring out what’s going on mentally—and what could be holding us back.
Unique Experiences
The equine experiences are a highlight. Miraval Arizona
Most people who go on vacation want to have an experience that is different from what they’ve done on previous trips. Two truly unique Miraval experiences include All the Buzz and Common Ground. I was on the fence about signing up for both of these activities. I’ll be honest, I worried that I’d be bored. But they both turned out to be two of my favorite activities at the property.
All the Buzz is run by Noel Patterson, and his passion and enthusiasm for the bee world is contagious (which is a hard thing to do, given so many people have a fear of bees). He gave us a lot of great background info about the bees and how they work together for a common goal. Then we suited up in our beekeeper suits—complete with gloves, gaiters and a net-like head covering—and explored a working hive. Patterson explained the role of the queen, the drones (males) , and worker bees (females). We saw little baby bees being hatched as well as bees carrying pollen under their bellies. The experience was really fascinating, and I know I was not alone in that I could have spent more than our allotted two-hour time slot with these creatures.
Common Ground, an equine experience, was also something I wasn’t sure I wanted to do. I love horseback riding, but this was interacting with horses, not riding them. In essence, it was horse therapy. The purpose was for each of us to delve deeper into ourselves and why we do and don’t do things. It was a fabulous way to explore our intentions, motivations, and mindset. The horse, being nonverbal, couldn’t tell us what he was thinking, and we couldn’t control what he did, but we could explore our own actions and focus on what we could control. Tyler, the horse wrangler, let each of the four members of our group have individual time with the horse while he asked us various questions. It was insightful to see not only how I reacted with the horse (and how I answered the questions) but also how everyone else did, as well. It was akin to group therapy in a safe and supportive environment.
Yoga & Fitness
The property offers some very unique classes, like ariel yoga. Miraval Arizona
From morning stretch and foam-rolling programs to body-specific classes, such as Happy Hips and Shoulders Set Free, Miraval offers a variety of fitness classes. The Cardio Drumming class is a Miraval favorite.t’s a high-energy cardio workout that combines traditional aerobic movements with the powerful beat and rhythm of drums. Water enthusiasts will enjoy the water fitness classes designed to burn calories and build muscle, strength, coordination, and flexibility. Yoga is also a favorite activity at Miraval and dozens of different types of yoga classes are offered including aerial yoga, Pilates and yoga fusion, and morning yoga.
Food and Wine
Meals can be enjoyed at the restaurant or from the comfort of your own room or private patio. Miraval Arizona
When it comes to culinary offerings, Miraval not only excels in the actual product (the food), but also in the whole experience. The wait staff is friendly and hospitable, ready to cater and tweak each meal due to allergies, food challenges, or simply cravings. Whether eating in the restaurant, bar, or café—or getting food to go—the interaction between guest and staff was always such a pleasant, kind experience—which is what mealtime should be. Additionally, the ambiance—the desert landscape—makes for some of the best backdrops for any meal. Lastly, the food itself is fresh, locally sourced whenever possible, and cooked to order. It’s a great place to try new flavors in a healthy serving size. Alcohol isn’t always available at spa retreats, but it is at Miraval, and many people were enjoying a cocktail at the end of the day or a glass of wine with dinner.
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3ce3b203723843e0e1874d9721251d9e | https://www.forbes.com/sites/judystone/2015/01/08/teixobactin-and-ichip-promise-hope-against-antibiotic-resistance/ | Teixobactin And iChip Promise Hope Against Antibiotic Resistance | Teixobactin And iChip Promise Hope Against Antibiotic Resistance
Teixobactin is the first new class of antibiotic announced in decades. That news and even more importantly, the elegant way it was discovered, are the most exciting news I’ve seen in some time.
Antibiotic development has stagnated as pharmaceutical companies have instead turned their attention to the far more profitable ventures of drugs for chronic diseases, like diabetes or heart disease. Antibiotics had been relegated to the role of the unwanted stepchild, it seemed.
Yet as antibiotics have been overused by healthcare workers (often at the demand of patients), sold over-the-counter in many countries, and wasted by agricultural misuse, we have seen their efficacy diminish.
Globally, deaths due to antibiotic resistance are estimated at 700,000/year. In the US alone, infections number 2 million/year, with 23,000 deaths due to resistant organisms. With the explosion of antibiotic resistance and the recent projections that, by 2050, antibiotic resistance would cost the world up to 100 trillion USD and a reduction of 2% to 3.5% in Gross Domestic Product (GDP), there has finally been renewed interest in antibiotic development.
Enter iChip
About 99% of bacteria can’t be grown under our current lab techniques, according to Drs. Kim Lewis and Slava Epstein, of Northeastern University in Boston. Working with the National Institutes of Health and the German government, they have developed a remarkably clever new technique, which they call iChip, now licensed to NovoBiotic Pharmaceuticals. Soil is greatly diluted. Using a lattice of tiny wells holding individual bacteria within agar, the iChip is covered with a permeable membrane, and replaced into the original soil. Using this technique, Lewis’s team has been able to screen 10,000 bacteria, previously unculturable, discovering a new bacteria, Eleftheria terrae, which showed good activity against S. aureus, and 25 new compounds. Among them is Teixobactin, the most promising one to date. As Ed Yong puts it, "Teixobactin is a fish; the iChip is the rod. Having the rod guarantees that we’ll get more fish — and we desperately need more."
Why care?
Teixobactin is exciting for several reasons. First, is the novel technique by which it was discovered. The explanation in Nature for how the mechanism of action was found was intriguing as well, and relied on “in silico,” or computer modeling to help work out. This compound is promising as an antibiotic for several reasons. First, it is a new cell wall inhibitor type of antibiotic, meaning it blocks bacteria from being able to reproduce. It binds to lipid II, and is different in its action than other glycopeptide drugs, like vancomycin or dalbavancin.
Teixobactin shows great activity against some of the problem Gram positive superbugs I deal with regularly—MRSA, enterococci, and C. diff—and has activity against tuberculosis and B. anthraces. Importantly, the drug is bactericidal vs VISA (Vancomycin Intermediate S. aureus)—meaning it will kill this resistant bacteria, a scourge of hospitals.
Unfortunately, Teixobactin does not have activity against Gram negative pathogens—such as Carbapenem-resistant Enterobacteraceae (CRE) or NDM bugs—which are a growing threat to patients.
In mouse studies, Teixobactin showed 100% efficacy against MRSA sepsis and in thigh infections, and was very active against S. pneumoniae in lungs. No toxicity was seen against the mammal cells tested, no hemolytic activity, and it did not bind DNA, so the researchers are optimistic about its likely toxicity.
If Teixobactin works we will have an important new drug in the armamentarium against Gram positive infections—this is particularly important in hospital-acquired infections, and in reducing the risk of post-operative complications following orthopedic (or other implant) surgery. While now, only ~2% of patients undergoing this procedure develop infections, estimates are that by 2050, 30-40% of patients undergoing hip replacements without effective antibiotics would develop an infections, and that 30% of these would be fatal.
What can go wrong?
First, there is a very, very long path from drug discovery and mouse trials to the market. This path often takes 10+ years; the NovoBiotic researchers are hoping for 5. Importantly, mice are not people, and we have no idea what toxicities might be seen in people. In fact, only 8% of compounds that pass into the animal testing phase ever make it to market. In addition to the toxicity, efficacy has to be shown—this will be particularly difficult to do with device infections.
The researchers are too glowingly optimistic about the likelihood of resistance emerging, I believe. In fact, the compound is being touted as “resistant to resistance” based on lab testing. Bacteria are always smarter than the people who develop and use them. While it may have taken 30+ years for Vancomycin resistance to develop, in part that is likely because we didn’t use that much of it until the last decade. Now we regularly see VISA organisms, with reduced susceptibility to Vancomycin and occasionally a totally Vanc resistant isolate.
For Vanc resistance, we now often turn to Daptomycin. Discovered in soil from Mt. Ararat, Turkey, Cubist got FDA approval for Daptomycin in 2003. In contrast to the slow resistance with Vancomycin, a case of Daptomycin resistant S. aureus bacteremia (blood stream infection) was reported in 2005. This past summer, I saw Dapto resistance emerge, similarly in patients with inadequately drained foci of infection.
Similarly, Linezolid resistance in MRSA was noted in 2001, only a year after approval. It had been seen in an Enterococcus faecium infection in 1999, even before approval.
My biggest concern, should Teixobactin make it to market, is that it will be squandered as every other good new antibiotic has been, and so resistance will rapidly emerge as the drug is overused. I have particularly been disappointed to see this with the other novel antibiotics developed during my career—Linezolid (Pfizer) and Daptomycin. I see both marketed irresponsibly (including promoting use to Social Service case workers) because they are convenient to use. Medicare has not been willing to pay for home IV antibiotics, so many of us use Daptomycin, which can be given once-daily in an outpatient clinic, so that our patients won’t have to go to a nursing home to receive antibiotics. As a result, we’re creating bacteria resistant to one of our few remaining effective antibiotics. Similarly, Linezolid is wasted for convenience, since it can be given orally; it has also been promoted for inappropriate uses, as treating colonization in wounds or in nursing home patients, rather than infection.
Conclusion
iChip is a very exciting development, allowing screening of previously unculturable bacteria for useful compounds. Teixobactin has promise because of its novel mechanism of action and its relative resistance to the emergence of resistance—in the lab. It has a long way to be more than a wish and a promise. If we don’t put strict controls on its use and treat it as a treasure, it won’t last long.
I always let my children grub in the dirt, believing it to be good for their immunity. Now we have new evidence of the wonders in dirt—at least in Maine, the source of Teixobactin.
Suggested reading
A new antibiotic kills pathogens without detectable resistance. Nature.
Has Antibiotic Resistance Been Solved? Not Yet.
Daptomycin: From the Mountain to the Clinic, with Essential Help from Francis Tally, MD
Credit: iChip photo courtesy Slava Epstein, Northeastern Universityundefined
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89f676cc05f0ae88e56870c1da9cd51e | https://www.forbes.com/sites/judystone/2015/02/20/superbug-scare-at-ucla-its-not-the-scopes-that-should-scare-you/ | Superbug Scare At UCLA -- It's Not The Scopes That Should Scare You | Superbug Scare At UCLA -- It's Not The Scopes That Should Scare You
There’s a big brouhaha over a cluster of infections following endoscopy at UCLA, but this needs to be placed in some perspective. It’s not the endoscopes that should scare you; it is the rise of “superbugs,” very resistant to antibiotics.
The procedure being scrutinized at UCLA is endoscopic retrograde cholangiopancreatography, or ERCP, which allows physicians to examine and treat a number of problems of the pancreas and biliary system. Many of these problems required open surgery before; some were untreatable. Now, through an endoscope, a flexible device that is passed through the mouth and down through the stomach to the duodenum, the first part of the small bowel, physicians can do biopsies and small surgeries, including putting in stents (plastic tubes) to bypass blockages from cancer or gall stones, for example—procedures that were not previously possible.
The "scope" of the problem
According to the FDA, more that 500,000 ERCPs are done each year in the U.S., of more than 10 million gastrointestinal endoscopic procedures (e.g., colonoscopy, etc.) The most common complication of ERCP is pancreatitis; inflammation of the pancreas, which occurs in up to 5% of patients. I also care for patients with cholangitis, an infection of the biliary tract, that can occasionally (<1%) follow placing a stent in infected bile. Overall, the incidence of infection associated with endoscopes is only about 1 in 1.8 million procedures. Blood stream infections that follow such procedures have ~50% death rate.
The UCLA cluster is a bit different, because it is related to likely transmission from reprocessed duodenoscopes. Scopes usually undergo “high-level disinfection” between patients, where they are cleaned by hand to remove any visible debris, and then soaked for 20 minutes in 2% glutaraldehyde, a toxic chemical which kills most bacteria, fungi, and viruses.
A better process would be steam sterilization, which many scopes can’t tolerate, or using ethylene oxide (EtO), which takes many hours, so isn’t very practical, though some hospitals are turning to this. Also, according to the Healthcare Infection Control Practices Advisory Committee (HICPAC), there is no good evidence that sterilization actually improves patient outcomes.
Outbreaks following ERCP increasingly involve CRE
UCLA is just the latest to have an outbreak of infection. In their case, they have identified seven patients with a Carbapenem-resistant Enterobacteraciae (CRE) infection following ERCP since last fall. Two of the patients have died. UCLA has initiated a look-back program and identified 179 patients as possibly having been exposed to CRE. They have offered these patients testing for CRE, something that may be reassuring, but of little practical use. Many patients are colonized with a variety of resistant bacteria, coexisting with the bacteria in their bowel or on their skin, for example. If these patients have not yet become ill, they are unlikely to unless they undergo some sort of instrumentation (invasive procedure).
UCLA has also changed its cleaning procedures, from high-level disinfection of the Olympus scopes, to the very costly EtO sterilization procedure. This also means they will have to buy a number of additional scopes, as the EtO will tie each scope up for at least 12 hours.
The FDA reports that from January 2013 through December 2014, they received 75 Medical Device Reports (MDRs) encompassing approximately 135 patients in the United States relating to possible microbial transmission from reprocessed duodenoscopes.
Another serious outbreak occurred in Illinois in 2013, this with the superbug New Delhi metallo-beta-lactamase (NDM-1), a highly resistant bacteria not yet often seen in the U.S. Nine cases were identified; 2 patients died. No breaches in processing the duodenoscopes was identified. Further look-back investigation turned up 30 colonized patients among 226 who were screened.
A bigger outbreak occurred in Seattle in 2012-14, at Virginia Mason Medical Center. Thirty-two patients became ill with CRE E. coli; 11 died. Again, no breaches in following manufacturer’s cleaning and processing recommendations were found, yet the CDC and Washington State Health Department found the scopes still harbored the CRE bacteria. Changes included switching to sterilizing scopes and culturing them before they are released for reuse. This takes more than two days, and required the hospital to purchase an additional 20 scopes—at a bargain price of $37,000 each.
Similar outbreaks also occurred in Pittsburgh and Chicago.
The blame game
As expected, everyone is pointing their fingers at others involved. Who’s responsible?
Is it the FDA, everyone’s favorite scapegoat, for not insisting on more stringent design and cleaning recommendations?
Is the hospital to blame, for cutting corners in cleaning scopes? I’ve certainly seen that happen, when a temperamental surgeon or gastroenterologist doesn’t want to wait longer for scopes to be soaked for the recommended amount of time in disinfectant.
None of the three major manufacturers of duodenoscopes, Pentax Medical, Olympus, and Fujifilm Medical Systems, are planning to redesign the problematic part of the scope, the “elevator wire channel,” according to Modern Healthcare. Perhaps the FDA can help change their minds. After all, the FDA notes that with the current design "effective cleaning of all areas of the duodenoscope may not be possible."
One interesting aside, reported by the Los Angeles Times, is that the Olympus Corp. has been under investigation since 2011 for possible violations of federal anti-kickback laws and the False Claims Act in regards to their promotion of their product.
Why are CRE bacteria so scary?
CRE are one of the “nightmare” bacteria that are resistant to most commonly used antibiotics. In fact, most commonly, this group of bacteria requires use of a very old and toxic antibiotic, colistin. As I wrote in one of my “view from the trenches” posts on my infectious disease practice, colistin invariably causes renal failure; I have yet to see anyone recover on whom I’ve had to use the drug. The CRE infections I see are bred in nursing homes and LTACs (long term acute care facilities), where patients too often receive multiple courses of antibiotics for colonization (resistant bacteria being on them or in them), rather than true infections. Each course breeds more resistant bacteria, until you run out of antibiotics.
In 2013, the NIH and the CDC sounded the alarm on an outbreak of CRE at NIH due to Klebsiella pneumoniae carbapenemase (KPC). Of 18 patients at this premier hospital, 11 died. But these CRE organisms are not confined to NIH and tertiary care centers. The CDC now reports cases from all over the country; these infections usually occur in seriously ill patients. This KPC is also the bacteria at UCLA; fortunately, their isolates are still susceptible to colistin.
Other CRE types of bacteria you might see reported are New Delhi metallo-beta-lactamase (NDM-1), and multi-resistant Acinetobacter, which has particularly plagued soldiers returning from the Middle East. These are all resistant to almost all antibiotics. Generally, colistin is used, sometimes in combination with tigecycline or sulbactam.
Until recently, physicians could usually rely on colistin (or related polymixin) to treat CRE infections, though with considerable toxicity. Recently, colistin-resistance is being reported. Carbapenem resistance in Acinetobacter (CRAB) ranges from 33-58% in the U.S. A recent survey showed 5.3% of CRAB to be resistant to colistin as well. A cluster of such colistin resistance was seen in Pittsburgh; as expected, these isolates came from critically ill ICU patients, many in immunocompromised transplant patients, and 19 of 20 patients had this resistance emerge during treatment with colistin. These bacteria are now resistant to all tested antibiotics. We have no antibiotics left…and even if new drugs are developed soon, they will undoubtedly be squandered, as physicians are loathe to have restrictions on their prescribing patterns, and the pharmaceutical companies will likely promote their new wonder drug heavily.
The recent Wellcome/UK report on antibiotic resistance was quite telling. As I previously noted, deaths due to antibiotic resistance are estimated at 700,000/yr, or 1,917 people killed every day, or 80 every hour. Worsening antibiotic resistance will likely preclude elective surgery. For example, 30-40% of patients undergoing hip replacements without effective antibiotics would develop an infections, and that 30% of these would be fatal. Chemotherapy would similarly be precluded.
In contrast, the risk of acquiring a bloodborne pathogen during ENT endoscopy or colonoscopy is estimated 7 in 10 trillion and 2.4 in 1 billion vs. the risk of dying of heart disease, 1 in 467; motor vehicle accident, 1 in 6,855.
What should patients know?
Cynically, the old adage among many health care workers is that it is better to be the first patient of the day.
Beyond that, if ERCP is recommended, it probably is far better than the alternatives. ERCPs are not undertaken casually. Likely, if one is recommended, you are seriously ill and, despite the risks, an ERCP is the safest alternative. Patients should know to call their physician promptly if they develop any fever or chills, severe nausea and vomiting, or worsening abdominal pain following endoscopy.
The UCLA outbreak, and the worse one with the newly reported colistin resistance in Pittsburgh are signs that we are approaching the end of the era of antibiotics. There are numerous reasons for this ranging from physicians not wanting restrictions on their prescribing patterns, to pharma's detailing drugs irresponsibly, to our seeming current belief that there will always be a new “miracle drug” just around the corner, to the misuse of antibiotics in agriculture to the ready availability of antibiotics “over-the-counter' without prescription in many countries. The bottom line is that it appears that we are all too rapidly headed back to the pre-antibiotic era, when even a minor scratch could be a death sentence.
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4461ccc82386c13be50aeabd7f63ede9 | https://www.forbes.com/sites/judystone/2015/02/24/game-changing-rapid-diagnostic-tests-for-ebola-and-dengue/ | MIT Lab Develops Rapid Diagnostic Tests For Ebola And Dengue | MIT Lab Develops Rapid Diagnostic Tests For Ebola And Dengue
A promising new diagnostic test from MIT looks like it could be a game changer for rapidly diagnosing several important infectious diseases within minutes. While most tests can only look for one type of infection at a time, this can differentiate between Ebola, dengue, and Yellow Fever—three hemorrhagic fevers—at the same time.
Several things are especially appealing to me about the MIT point-of-care test, though some of the logistics are still being worked out. First is the test’s ease of use. The test will require little training, as it relies on technology similar to a pregnancy test, called lateral flow technology. A small amount of blood is directly applied to the strip, without needing to be processed in the lab. The fluid is drawn along a paper channel, and interacts with silver nanoparticles bound to monoclonal antibodies for the diseases.
Kimberly Hamad-Schifferli, visiting scientist and technical staff at MIT, collaborating with Lee Gehrke’s lab on this project, kindly walked me through the process. The silver nanoparticles turn different colors as they grow to different sizes, and are then bound to the antibodies. An easily read, color-coded band emerges if the blood carries any of these infections. The colors are readily seen by the naked eye, again requiring no special equipment. A mobile phone can capture the images of the test for confirmation and further data analysis.
Lateral flow device - courtesy Chun-Wan Yen
These Matrix Multiplexed Diagnostic (MMDx) device kits, as other similar rapid diagnostics, are somewhat sensitive to humidity, so are packaged in foil with dessicants. The cost is expected to be in the $2-3 range.
Yellow Fever and dengue also occur in sub-Saharan Africa, so it is important to be able to distinguish between the different viral infections, as their spread and outcome are quite different, Ebola being the most contagious, as we’ve seen this past year. The other two are mosquito-borne infections. The addition of Yellow Fever should improve the accuracy of the tests, as there have been problems with cross-reactivity (mixing the two viruses up) in some other types of testing kits.
A similar rapid test, ReEBOV Antigen Rapid Test Kit (Corgenix, USA), was just approved by the World Health Organization (WHO) last week. This test is only for Ebola. The other problem is that the accuracy of that test is not great: the sensitivity was 91.8% and the specificity was 84.6%, lower than that for the benchmark PCR tests. This means that 8% of patients with Ebola would be missed by this rapid test, and 15% of people tested, although not ill with Ebola, would test falsely positive for the virus. Neither outcome has good consequences. Because of these inaccuracies, the screening should still be followed by the time-consuming confirmatory testing.
The MIT test is not quite ready for prime time, as it still has to complete testing to gain FDA approval. This, as with other Ebola diagnostics, is likely to fall under the Emergency Use Authorization (EUA), which allows for expedited approvals for problems deemed to be in the national security interest. The specific requirements for an EUA are a bit nebulous. I’ll update this if I get specific answers back to my inquiries.
In the meantime, the MIT lab—a large interdisciplinary team including researchers in infectious diseases, chemical and mechanical engineering, nanotechnology, molecular biologists and —continues to explore this technology for other important infectious diseases as well. This innovation could be a game changer.
Further reading:
Multicolored silver nanoparticles for multiplexed disease diagnostics: distinguishing dengue, yellow fever, and Ebola viruses
Chun-Wan Yen, Helena de Puig, Justina O. Tam, José Gómez-Márquez, Irene Bosch, Kimberly Hamad-Schifferli and Lee Gehrke
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51c852131fe1230705d63cf158dbe54e | https://www.forbes.com/sites/judystone/2015/07/31/legionnaires-disease-another-summer-scourge-from-unexpected-places/ | Legionnaires' Disease -- Another Summer Scourge From Unexpected Places | Legionnaires' Disease -- Another Summer Scourge From Unexpected Places
A Legionnaires’ disease outbreak in the Bronx has sickened at least 46 and killed 2 thus far. This follows a cluster earlier this year in Flushing, and regular, sporadic cases totaling 200-300 per year in New York City. Ironically, the Bronx outbreak is occurring on the anniversary of the first Legionnaires’ outbreak, which was in Philadelphia in 1976. That occurred at an American Legion’s convention, sickened more than 221, and led to 34 deaths.
Legionnaires’ disease is caused by a warm water-loving bacterium, Legionella.People get sick by breathing in a mist or water vapor that is contaminated with the bacteria. It is not spread person-to-person.
Legionella Plate - CDC/James Gathany (PHIL #- 7925)
Most commonly, as in the Bronx, the culprit is found to be cooling systems. So far, contaminated cooling towers have been found at Lincoln Hospital and Concourse Plaza with people being exposed as they walk through the tainted water vapor. People just in the hospital or shopping area have not become ill.
Cooling towers are often the culprits behind outbreaks, explaining the strong seasonal distribution of infection. Another common source is hot tubs. In each, the water can be effectively treated by superchlorination.
Each year, an estimated 8,000-18,000 people are hospitalized with Legionnaires' disease in the U.S. Many hospitals routinely test for this on patients seriously ill with pneumonia, and current guidelines recommend empiric treatment regimens include coverage for “atypical” organisms, even though the disease is relatively uncommon. (In my old hospital, for example, we diagnosed Legionella in ~1 patient per year). In fact, I believe this contributes greatly to the overuse of azithromycin (Zithromax) and especially of levofloxacin (Levaquin).
CAT scan of severe Legionella Pneumonia - Antonella Grottola CDC via Wikemedia
Who’s at risk from Legionella? What are the symptoms?
Legionnaires’ disease primarily infects patients with underlying conditions:
Older people (usually 50 years of age or older) Current or former smokers Those with a chronic lung disease (like COPD or emphysema) Those immunosuppressed from cancer, diabetes, kidney failure, transplants, or certain medications.
Symptoms occur 2-14 days after exposure and are not significantly different than those from other types of pneumonia, with fever, cough, shortness of breath and aches, except that sometimes headaches and diarrhea are more prominent.
Infections are fatal in 5-30% of cases.
Culturing Legionella is not easy, so most diagnoses are made by a urine antigen test that detects part of the bacteria excreted in the urine. Even if the test is negative, hospitalized patients are likely to still be treated for “atypicals,” both because the test can miss a quarter of patients and because there is a growing aversion to treat outside of guidelines. This puts them at increased risk of acquiring drug-resistant organisms and C. difficile colitis.
Interesting outbreaks hold valuable lessons
Legionella is one of the most frequent causes of waterborne disease in the U.S. There have been a number of clusters of Legionella linked to hot tubs, so it is important to make sure your water is adequately disinfected. (Look for water levels of free chlorine (2—4 parts per million [ppm]) or bromine (4—6 ppm) and pH (7.2—7.8) levels.)
More than 20%–25% of all Legionnaires’ disease reported to CDC is travel-associated, from hotels or cruise ships.
Infections have been associated with the decorative fountains and rain curtains now increasingly favored for their soothing ambience. In one 2010 cluster in Wisconsin, eight patients became ill within a month, and epidemiologic studies traced the outbreak to a decorative, wall-type water fountain.
In this fountain that harbored Legionnella, water cascaded over a wall into a pool. When turned off,... [+] the water in the recirculating pipe became stagnant, likely furthering growth of the bacteria. - photo courtesy Dr. Tara Palmore, NIH
The first such hospital outbreak occurred when the NIH Clinical Center suffered a cluster of infections in its stem cell transplantation unit, which they traced to a fountain. Impressively, they recognized it and successfully intervened with just the second case. The authors concluded—and I’ve long agreed—“In our opinion, decorative fountains and water features present unacceptable risk in hospitals serving immunocompromised patients.”
A shameful outbreak occurred at the Pittsburgh VA in 2011-12. This was notable for the local VA dragging its feet in notifying the Pennsylvania Department of Health, though others are required to report cases immediately.
Legionnaires’ has also been linked to long-term care facilities and may be overlooked in that population, where pneumonia is often attributed to aspiration.
Another odd series involved 33 patients who were hospitalized with Legionnaires' disease in Bogalusa, Louisiana. The source? An improperly maintained grocery store mist machine! These authors emphasized the need to clean ultrasonic humidifiers—often used in home humidifiers—regularly.
Legionnaires’ also has caused outbreaks via showerheads. Bacteria can get trapped and multiply in the gooey biofilm that collects. Mycobacterium avium, which can cause problems for patients with HIV/AIDS, is one such bacteria. Most of the time, people don’t get infected from these exposures, but occasionally people, especially if immunocompromised, do. Similarly improperly cleaned respiratory therapy equipment that generate aerosols have been implicated as causing infection.
Conclusion
What is the take-home message in all of these outbreaks? One is that without good epidemiologists, we wouldn’t have a clue as to how these infections are transmitted. Support infectious disease and public health practitioners!
Second, most people are not at risk. As with many infections, the elderly, smokers, and immunocompromised people are at particular risk of serious infection.
Finally, cleaning equipment and maintaining adequate chlorination will keep people from becoming ill from many water-borne pathogens. It’s not rocket science.
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05f3729387538e92883ac2d702b218ae | https://www.forbes.com/sites/judystone/2015/08/14/legionella-waterborne-outbreaks-increasing-warns-cdc/ | Legionella And Waterborne Outbreaks Are Increasing, Warns CDC | Legionella And Waterborne Outbreaks Are Increasing, Warns CDC
A new report from the CDC provides an update on infections associated with drinking water in the U.S. from 2011-2012. During these two years, there were 32 outbreaks, causing at least 431 infections, with a quarter of them (102) requiring hospitalization, and 14 deaths. Legionella caused 21 (66%) of the outbreaks, 111 cases, most of the hospitalizations and all of the deaths.
Legionella pneumophila bacteria (Legionnaires' disease). Most deaths from Legionnaires' disease are... [+] tied to hospital and nursing home showers, not outdoor cooling towers, new government figures released Thursday, Aug. 13, 2015 show. The germ spreads into the lungs through water vapor or mist. (Janice Haney Carr/Centers for Disease Control and Prevention via AP) .
Norovirus only was found to cause twooutbreaks, but they involved 138 cases. Other bacterial causes of outbreaks included Shiga toxin–producing Escherichia coli (56), Shigella sonnei and Pantoea agglomerans, a bacteria associated with hospital-acquired bloodstream infections.
Disturbingly, hospitals or healthcare facilities were the site of half of the outbreaks (16, or 50%). Hotels ranked next, at 13%, then camps.
Outbreaks from water systems that used surface water sources (56.3%) were, unsurprisingly, more common than others.
Looking at individual cases, viruses led, causing 32% of infections. Legionella took second place (26%) and organisms that could be effectively killed by chlorine—the gastrointestinal pathogens (norovirus, enteric bacteria, and the parasite Giardia) accounted for more than half of the cases. This highlights the need to maintain adequate disinfection and monitoring even in these drinking water systems.
The need for ongoing surveillance and upkeep has been amply illustrated in the recent outbreak of Legionnaire's disease in the Bronx, found to be due to contaminated water in cooling towers.
Legionella infections have a higher death rate because they more often affect immunocompromised individuals (elderly, COPD, etc.), and have been seen more often in healthcare facilities. Legionella is more difficult to detect and eradicate since it can multiply within plumbing systems. Infections from Legionella occur more often from aerosolized water particles, thus presenting as pneumonia, while the viruses and parasites cause diarrheal illness after drinking contaminated water.
The proportion of illness due to contaminated drinking water rose from 15% of cases in 2009-10 to 52% of cases in 2011-12. The CDC recommends “full implementation of the Environmental Protection Agency (EPA) Ground Water Rule and Revised Total Coliform Rule” to mitigate against these infections from groundwater contaminated with stool…but many members of Congress, primarily Republicans, oppose EPA protections. (Implementation of safety regs is another story, as this week's fiasco with the Colorado mine leak of toxins outside of Silverton illustrates.)
Water flows down Cement Creek just below the site of the blowout at the Gold King mine which... [+] triggered a major spill of toxic wastewater, outside Silverton, Colo., Thursday, Aug. 13, 2015. (AP Photo/Brennan Linsley)
In addition to the biologic contaminants of groundwater, chemicals caused illness in 6% of the cases linked to drinking water. This is an increasingly expressed concern in areas where there is fracking. Note that fracking was exempted from the Safe Drinking Water bill in 2005.
A parallel study, also just reported by the CDC, looks at "water not intended for drinking" and "water of unknown intent.” Here, too, the rise in cases was largely attributable to a rise in Legionella. These environmental sources led to 18 outbreaks with 280 cases of illness, 67 hospitalizations (24% of cases), and 10 deaths. Legionella caused 254 of the cases and all 10 deaths. Once again, the outbreaks often occurred in hospitals and long-term care facilities, from cooling towers and, as I noted last month, ornamental fountains and showerheads.
This week in Legionnaire’s news brought the current Bronx outbreak cases to 119, with 12 deaths. The source was found to be multiple cooling towers in buildings in the area.
There were unrelated and unusual cases of Legionnaire’s as well, affecting an inmate at Stateville Correctional Center in Joliet, Illinois, and one at Rikers Island. An inspection at a GlaxoSmithKline pharmaceutical plant also turned up Legionella bacteria in cooling tower water, but no risk is expected to patients.
The take-home messages have just been reinforced—we need government regulation to ensure safety of our water systems and require appropriate cleaning and maintenance. In the U.S., we are incredibly lucky. Globally, 750 million people lack access to clean water and more than 840,000 people die from a water-related disease. Let’s work harder to keep our water safe.
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faffa2a4ca95592ec716001fd4c5db76 | https://www.forbes.com/sites/judystone/2016/01/04/zika-coming-to-america-through-mosquitoes-travel-and-sex/ | Zika: Coming To America Through Mosquitoes, Travel And Sex | Zika: Coming To America Through Mosquitoes, Travel And Sex
The virus you likely never heard of is steadily marching north from Brazil. It’s Zika, spread by Aedes mosquitoes. It’s a flavivirus related to yellow fever, West Nile, Chikungunya, and dengue. The latest two that hit the U.S., Chikungunya and dengue, are painful and bad enough—and dengue can kill people who are infected more than once. Zika adds an added nasty punch of perhaps causing microcephaly, a birth defect where babies are born with abnormally small skulls and brains, and often have developmental abnormalities.
Aedes aegypti mosquito. (Photo by James Gathany, CDC 2006)
Zika was first found in mosquitoes in the Zika forest in Uganda, then isolated in people in Nigeria in 1968, though there was serologic (antibody) evidence of it’s being present through many African countries, India and Malaysia. It was first found outside these endemic areas in 2007, when there was an outbreak on Yap, a South Pacific island.
Zika distribution pre-2007 - Emerging Infectious Diseases
This first map, shows the "known distribution of Zika virus, 1947–2007". The red circle represents Yap Island. Yellow indicates human serologic evidence; red indicates virus isolated from humans; green represents mosquito isolates.”
These maps are intriguing, showing how quickly Zika is spreading. A similar pattern was seen with Chikungunya, which only reached Europe in 2007, and the Americas in 2013. That same year, in the largest outbreak to date, 28,000 people in French Polynesia (11% of the population) became ill.
Colombia is also seeing a huge rise in Zika cases, now with more than a thousand new cases a week. Brazil saw its first infection in May 2015. Since then, there has been an explosive increase in cases (estimated at 440,000-1.3 million) and associated cases of microcephaly, now numbering more than 1,000. (Curiously, the CDC says this is about a 10-fold increase; the Pan American Health Organization (PAHO) says it is a 20-fold increase.)
Zika distribution 12-10-2015 - CDC
A map from December 2015 shows how Zika has spread northward since May, now with locally acquired cases in 10 Latin American countries, and travel-related cases diagnosed in the U.S. In just the time since I wrote the first draft of this post last week, Zika has spread further, most recently being found in Puerto Rico.
Given that mosquitoes don’t respect borders and that we now have Aedes-transmitted dengue and Chikungunya in the southern U.S., with similar climates as in now-endemic areas, I would expect us to soon begin seeing cases in Florida, Texas and the rest of the Gulf Coast, as well as perhaps California, as those areas all have the Aedes mosquitoes that transmit the virus.
How is Zika spread?
Those pesky mosquitoes are the main way people contract Zika, dengue and Chikungunya. A transfusion-associated case of Zika was reported from Brazil last week.
There are also now two reports of possible sexual transmission of Zika. The first report is quite intriguing. A malaria researcher returned to Colorado from a trip to collect mosquitoes in Senegal. Both he and his wife later became ill with Zika, though she did not join in his travel. He appears to have infected his wife, noting "patients 1 and 3 reported having vaginal sexual intercourse in the days after patient 1 returned home but before the onset of his clinical illness." Though not proof of sexual transmission, it is likely, given the hematospermia (bloody semen) reported in these two cases.
Symptoms--Does Zika Cause Microcephaly?
Most of the infections are asymptomatic. Illness occurs 3-12 days after the bite from an infected mosquito and lasts 4-7 days. The symptoms of Zika are easily confused with dengue and Chikungunya—fever, rash, joint pain, headache. Conjunctivitis is apparently more common with Zika. Other than serious birth defects, prompting travel alerts, or the spike in Guillain-Barre paralysis seen in Polynesia, Zika seems to be generally milder that these other viruses…but that will likely change as we learn more. We thought the same when West Nile virus, a member of the same family, emerged.
In this Dec. 23, 2015 photo, 10-year-old Elison nurses his 2-month-old brother Jose Wesley at their... [+] house in Poco Fundo, Pernambuco state, Brazil. (AP Photo/Felipe Dana)
The biggest concern about Zika thus far is whether this virus is the cause of the surge in cases of microcephaly. To me, this seems likely, given the increase of these birth defects noted both in Fiji and in Brazil, corresponding with the outbreaks of Zika. There is no definitive proof yet…but it is further evidence that there are now two cases of Zika virus being isolated from amniotic fluid, explaining how fetuses might become infected. There was another report from Brazil of Zika virus found in the blood and tissue of a newborn with microcephaly, who died within minutes of birth.
Diagnosis and Treatment
Diagnosis is by reference lab work, so useful for hindsight, but not clinically. There are no rapid tests available in practice. But it’s useful to know what caused an infection, even if it is not treatable, as it might have implications for future care. For example, repeat dengue infections are much more likely to be life-threatening from hemorrhagic fevers than the initial illness.
There is only symptomatic treatment for any of these viruses—rest, fluids and pain meds, with acetaminophen (Tylenol) preferred. You should avoid aspirin or NSAIDs, at least until dengue is ruled out, as they could worsen the risk of bleeding.
Prevention
Avoiding mosquito bites is the mainstay of preventing any infection from the critters. With malaria, the vector Anopheles mosquito generally bites at night or dawn and dusk, so using bed nets is an important route of prevention.
These disease-spreading mosquitoes are spreading between countries by travel, climate change and occasionally by human transmission to the insects.
In the last few years, the U.S. has had an invasion of Aedes mosquitoes, A. aegypti and A. albopictus. The Asian tiger mosquito, A. albopictus, which transmits all of these viruses, is an aggressive daytime feeder, making it much harder to avoid. It also can adapt to colder temperatures, meaning we will have much more trouble with it wintering over. One of the scary things is that this mosquito species has become resistant to four of the six pesticides used against it. This is part of why I support the use of Oxitec’s genetically modified mosquitoes, which have shown a greater than 90% efficacy in reducing Aedes populations in South American trials.
One other thing that is important is protecting yourself from mosquito bites, even if you become ill with one of these viruses, so that you don’t infect other mosquitoes that feed on you, and thus fuel the spread of disease. Stay in, use a net or use an insect repellent—either permethrin on your clothes, or picaridin or DEET—on your skin.
It’s critical, too, to eliminate the breeding grounds for the mosquitoes, pools of standing water, as can occur in abandoned tires or buckets.
Travel
The CDC has issued a travel warning due to Zika for the countries in Latin America experiencing rapid spread, encouraging enhanced protection against mosquito bites. Pregnant women, in particular, are urged to take extra steps to avoid bites. The warnings should be applied more broadly, given the spread of Chikungunya and dengue as well, to other countries in Latin America.
Conclusion
Zika virus is the latest emerging infectious disease to grace the Americas. With globalization and climate change, we can expect to see more and more similar infections. The arboviruses dengue, Chikungunya, and Zika are likely to be growing problems in the U.S. over the coming year or two. Who knows—if global warming continues unabated, we might even see a resurgence of yellow fever in the south. Brace yourself for an exciting new year.
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eaad1dcc7d1adae15f1d8e84ebf41fb8 | https://www.forbes.com/sites/judystone/2016/01/28/what-zika-and-the-flint-water-crisis-have-in-common/ | What Zika And The Flint Water Crisis Have In Common | What Zika And The Flint Water Crisis Have In Common
Zika and the epidemic of birth defects, like the lead poisoning in Flint, highlight the added burdens especially facing the poor and people of color.
There are striking similarities between the lead-poisoned water hurting Flint citizens and the burdens facing Latin American women with babies born with microcephaly, likely due to Zika infections.
What do these two tragedies have in common? They—and many other similar problems—largely affect poor people of color, people who are politically powerless.
Michigan 2016 - 1/20/16 Politico.com editorial cartoon, courtesy Matt Wuerker
Environmental racism
The lead poisoning travesty in Flint occurred because Governor Rick Snyder replaced local representatives with an emergency manager system intended to wring savings out of communities, and damn the human cost. Flint’s water supply was changed from Lake Huron water, treated by Detroit, to water from the historically very polluted Flint River, and they didn’t bother to add necessary anticorrosives, to save ~$100/day. The cost to repair the damage is estimated as $1.5 billion.
Now, the community has been drinking lead-tainted water, toxic at any level, and which can cause lasting brain damage likely to scar an entire generation of Flint children, as I outlined in my previous post. As pediatrician and whistleblower Dr. Mona Hanna-Attisha explained, “We don't see the illness of lead right now, we see the consequences over the entire life of the child through their adulthood… Lead is an irreversible neurotoxin with a lifelong, multi-generational impact. And we just had a whole population exposed to it.”
Flint is a poor city, more than half African American, with 40% living in poverty. Even within Flint, there are pockets that are more marginalized. Language barriers have hampered awareness of the problem in Arab American and Hispanic communities within the city. Undocumented immigrants are justifiably afraid to get help, given the recent increase in ICE raids and deportations. This week a sign appeared telling people coming for bottled water that they would need to produce identification.
ID required sign at Flint water distribution center (courtesy Nayyirah Shariff)
It was later removed.
Similar problems have been happening across the country—in Washington, D.C., where Virginia Tech’s Marc Edwards previously showed extensive lead poisoning, for example.
It’s not just lead poisoning. Access to clean water is considered a human right by the United Nations, yet many, even in poor areas of the U.S., don’t have this.
Zika
There have been about 4,000 babies born with microcephaly (abnormally small skulls) in the past year in Brazil alone, and this serious birth defect is now being seen more widely throughout Latin America and the Caribbean. While not entirely proven, it is highly likely that Zika virus causes the microcephaly. Countries are advising women to delay pregnancy, and the U.S. and other countries have issued travel warnings to women who might be pregnant or are trying to become pregnant to avoid travel to affected countries. The most outrageous suggestion came from El Salvador, which recommended women delay pregnancies for two full years. How impractical is that?
If we look carefully at the contraceptive accessibility data and social justice aspects of the Zika outbreak, surprisingly, published data on contraceptive use in Latin America suggests that ~76% of women use contraception. This number seems shockingly high to me, given the conservative Catholic and Evangelical influence in the region. I turned to Beatriz Galli, Senior Latin America Policy Advisor for Ipas, a global reproductive rights nongovernmental organization, for clarification. Speaking from Brazil, she stressed that the surveys yielding these findings were done in married women and that the answers likely reflected use of a contraceptive at any time—not current or sustained or correct use. While family planning laws are in place and Ministries of Health are providing contraceptives, access to these are quite variable, and are “not reaching marginalized, poor or rural” areas as they should. There is almost a complete “lack of access of sexual education in schools. Because of pressure of religion, women in poor and rural areas are likely not to have access to the information needed or right methods to plan their pregnancies.” Similarly, she felt data about teens having a high use of contraceptives (in some LAC countries) is misleading. “Adolescents aren’t given the right information. Sometimes they don’t have confidentiality…there are problems with continuity,” as well. The "high rate of teen pregnancy confirms that governments are failing to provide proper access to information and services they may need."
The Guttmacher Institute reports Latin America and the Caribbean countries have the highest rate of unintended pregnancies in the world—56%. Physical and/or sexual intimate partner violence is reported by 30% of women in the region. Similar data is reported by PAHO.
Given these disturbing numbers regarding partner violence, Galli believes the government recommendations to delay pregnancy are totally unrealistic. She observes there are “unequal power relations in this very patriarchal society” and emphasizes that the governments are putting the onus on individual women—with their limited autonomy—rather than assuming responsibility to deal with the public health crisis. "Zika is major public health crisis with potentially devastating consequences for women and girls of reproductive age and their families."
Women bear the burden
What happens to poor women who become pregnant due to lack of access to contraceptives, or rape or domestic violence?
Not surprisingly, unplanned births in the U.S. are associated with delayed prenatal care, poorer mental and physical health, and poorer outcomes for the child.
Many women in other countries fare even more poorly. “Nearly half the world’s population, 2.8 billion people, survive on less than $2 a day. About 20% of the world’s population, 1.2 billion people, live on less than $1 a day;” 60% of those living in extreme poverty are women. Women also comprise 64% of those who are illiterate.
The CDC recommends enhanced monitoring with serial ultrasounds during pregnancy for women who had Zika infections. This is great in helping our understanding of the newly emerging disease, but does little for the affected women, except perhaps alert them to an impending tragedy.
Brain scans of a 2-month-old baby with microcephaly are displayed by Dr. Vanessa Van Der Linden, the... [+] neuro-pediatrician who first recognized and alerted authorities of the microcephaly crisis in Brazil. (Photo by Mario Tama/Getty Images)
Many infections, as well as toxins or chromosomal abnormalities, can cause microcephaly. It’s important to note that the incidence of this birth defect is estimated at 0.2% to 1% in Zika-affected regions. There is increasing evidence that Zika is causing the current epidemic of microcephaly. “Microcephaly can be caused by so many different things and many times is not diagnosed until after the newborn period,” notes Marjorie Treadwell, a maternal and fetal medicine professor at the University of Michigan. Gustavo Mallinger, an OB-GYN and expert on fetal ultrasonography in Israel has additional worries. He told me, “Most of the children with microcephaly are born with a normal head circumference and develop microcephaly during the first year of life.” He adds that with Zika, the problem is not the diminished skull size per se, but the severity of the underlying infection that it reflects. “The truly important issue will be how to identify fetuses with less severe disease that will turn out probably to be blind, deaf or mentally retarded. In these cases termination of pregnancy should be an option if acceptable for the family and under the law.”
There’s the rub. Abortion is illegal throughout Latin America, in many places even to save the life of the mother. And microcephaly is often not detected until 24-28 weeks gestation, when abortion is illegal in the U.S. (though in many states, it is illegal far earlier).
Abortion prohibitions disproportionately affect poor women, as recounted in "Pregnant and Desperate in Evangelical Brazil." The Guttmacher Institute reports that 95% of abortions in LAC were unsafe by WHO standards—performed by an individual without the necessary skills, or in an environment that does not conform to the minimum medical standards, or both. They numbered 31/1,000 women, with only 2/1,000 considered “safe.” About 760,000 women in Latin America and the Caribbean are hospitalized annually for treatment of complications from unsafe abortion. Because of stigma, cost and legal consequences, many others get inadequate care.
What will happen with the growing microcephaly epidemic?
Poor women will likely have more infections than their more affluent counterparts, as they are more likely to live in urban slums with pools of standing water, ideal mosquito breeding grounds. They are also more likely to live in dilapidated housing without adequate screens or protective air conditioning.
Poor women—both in Latin America and in the Gulf states of the U.S., where Zika will likely hit hard, will increasingly turn to unsafe abortions. Those who are unsuccessful, or even those who unintentionally have a miscarriage, or a stillbirth, are likely to face barbaric feticide laws and imprisonment, as happened in Indiana in 2014, and more often since then, here and in Latin America.
Roseane Alves, 31, holds her two-month-old daughter Rackelly Dias, born with microcephaly, a brain... [+] defect in babies thought to be caused by the Zika virus. (Rafael Fabres/Bloomberg)
Poor women who have a baby born with microcephaly and associated mental retardation, deafness or blindness will also carry a disproportionate burden for their infant's future care. There is inadequate support for them both in LAC and in the Gulf states, which most strongly opposed Medicaid expansion and social services for their citizens. Once born, the needs of the children and mothers are often forgotten.
As Galli emphasized, Zika "is a social justice issue--only poor and disadvantaged women living in poor urban and rural areas are likely to be more affected. They should not be told to delay pregnancy or to continue to be pregnant against their will. This is a violation to their dignity and their reproductive rights."
Conclusion
While the epidemic of Zika and lead poisoning might at first glance seem unrelated, they both reflect the disproportionate burden facing poor people, and especially poor women of color, globally. They raise serious ethical and human rights issues, including access to safe water, safe living environments and autonomy. Placing the burden of avoiding pregnancy on poor women is unconscionable and unfeasible, especially where access to contraception is limited, and where women may be unable to “just say no” to sexual relations without risking partner violence. Finally, the disasters of both Flint and Zika reflect the failure of governments to protect their citizens.
Suggested readings:
How people in Flint were stripped of a basic human need: safe drinking water
Virginia Tech’s site, FlintWaterStudy.org
Nutrition and Lead resource guide
Pregnant and no civil rights
Also on Forbes:
Gallery: Top 10 Disease-Related Causes Of Death Worldwide 11 images View gallery
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3acbf42f3d8b0b42b95fbd532b661dec | https://www.forbes.com/sites/judystone/2016/02/01/mosquito-wars-update-would-you-choose-gmo-mutants-pesticides-dengue-or-zika-viruses/ | Mosquito Wars Update: Would You Choose GMO 'Mutants,' Pesticides Or Dengue And Zika Viruses? | Mosquito Wars Update: Would You Choose GMO 'Mutants,' Pesticides Or Dengue And Zika Viruses?
Along with the explosion of Zika virus infections in Latin America, we have a similar spike in conspiracy theorists.
In my earlier post on GMO mosquitoes, now a year ago, I explained the high rates of pesticide resistance and why we need new ways of combating the many viral infections transmitted by mosquitoes.
Last year, my focus was on the rise in Chikungunya and dengue infections, and how those threaten the U.S. as well as Latin America. Now Zika, which many think might be the cause of the serious birth defect, microcephaly (abnormally small skulls), is spreading rapidly north from Brazil.
Mosquitoes are expanding their range
Mosquitoes species that weren’t previously present in the U.S. have arrived and are now expanding their ranges. Aedes albopictus, or the Asian tiger mosquito, has spread throughout the world via international trade, and the mosquitoes follow major transportation routes. Also, infected travelers can bring their infections home with them, causing further spread. This is one strong hypothesis as to how Zika began in Brazil—brought by attendees to the 2014 World Cup. This is a growing concern about the upcoming summer 2016 Olympics in Brazil, along with spreading multi-drug-resistant bacteria from the markedly polluted water.
The American Gulf states have similar climates to the endemic areas that are already plagued by arbovirus (insect and other arthropod) infections. There is concern that if Zika adapts to transmission by A. albopictus, 32 states that host that mosquito will be at risk. Because the Asian tiger mosquito, A. albopictus, can adapt to cold temperatures by becoming dormant during the winter in temperate regions, it is more likely to spread through the U.S.
Along with the range expansion, we’re seeing the spread of disease, with locally transmitted dengue in Florida in 2009, then Chikungunya in Florida in 2014. Antibodies to dengue, indicating previous infection, were found in 5% of Key West residents and in 38% of the Brownsville, Texas, residents tested.
Zika is likely exploding in Latin America because the virus was introduced into a population with no prior immunity. The Brazilian strain is quite similar genetically to one found in the South Pacific.
To control Zika, some people are suggesting more pesticide spraying, and news is full of images of fumigation in Brazil. As with antibiotic overuse, resistance has developed to four of the six pesticides used against the A. aegypti mosquito in the Keys, the main mosquito vector transmitting the dengue and Chikungunya viruses (although the aggressive Asian tiger mosquito can do so as well). The broad use of pesticides also kills other insects and decimates the wildlife population, which needs the insects as a food source, and causes lasting damage to the environment. Remember Silent Spring?
This is why we need new technology to attack the mosquitoes.
What options are available for controlling diseases from mosquitoes?
As I explained last year, “Oxitec, a British company, with researchers from the University of Oxford and the London School of Hygiene & Tropical Medicine have developed a way to genetically modify the A. aegypti mosquito, inserting a gene into the male mosquito that causes offspring of the mosquito to die in the larval stage; this is called a dominantly lethal genetic system or RIDL (Release of Insects carrying a Dominant Lethal) technique. Since the larva die, the population of mosquitoes that can transmit infection is greatly reduced.” Oxitec is now a subsidiary of Intrexon Corporation (NYSE: XON)
Another promising approach for controlling dengue is using a bacterium, Wolbachia, which can infect insects, but not people. When male mosquitoes that are deliberately infected with Wolbachia mate with an uninfected female, the males pass on the bacterial infection and the eggs don’t hatch, reducing the mosquito population. This approach has been studied particularly in Cairns, Australia.
Vaccines are certainly under development, but will likely take a long time. A recent editorial by Drs. Anthony Fauci and David Morens also dashes vaccines as a panacea, as being slow, cumbersome to apply and costly. Such a vaccine would also only target Zika, doing nothing for the other mosquito-transmitted viruses.
The fear of GMO mosquitoes vs. the reality
With the explosive spread of Zika through Latin America, and realization that the virus will spread in the U.S. (though how large that would be is uncertain and being debated, with Peter Hotez, a Baylor tropical diseases and vaccine expert, being justifiably gloomier than officials), more attention has been focused on Oxitec mosquitoes. There has been hysteria and misinformation in the press about “mutant” mosquitoes being unleashed causing the end of the world, so I want to counter misconceptions and debunk conspiracy theorists.
First, Oxitec is not a fly-by-night company scurrying around releasing hordes of evil mosquitoes. They have been working with the World Health Organization and TDR, the Special Programme for Research and Training in Tropical Diseases, as well as with the governments of each country where they are trialing and studying this approach. In 2014, the Entomological Society of America presented an award for innovation and creativity to Dr. Luke Alphey, an Oxitec scientist, for his “accomplishments and ability to identify problems and develop creative, alternative solutions that significantly impact entomology.”
Trials have been conducted with the support and approval of groups like Panama’s National Biosafety Committee and conducted by highly respected research centers, like the Gorgas Institute in Panama. Further, there is a guidance for working with genetically modified mosquitoes monitoring safety and efficacy.
Also, the mosquitoes being modified are, with rare exception, all males. As only female mosquitoes bite, they will not be “inserting” any foreign DNA into anyone. The males are being used to ensure that there are no offspring to develop into those nasty female mosquitoes. As it is the males that are “GM-ed”, and as their offspring all die in the larval stage, no genetic modifications will survive in the wild.
The best and most rational article on this issue last year was by Dr. Christie Wilcox, an ecologist at the University of Hawaii, in Discover magazine. “These altered mosquitoes must be released multiple times, as basically all of the mosquitoes that get the suicidal DNA die, leaving only normal mosquitoes for the next breeding bout…if things don’t go well, Florida can stop introducing their mosquitoes any time and it will be as if they were never there.”
Here is other recent information about the Oxitec trials of the modified mosquito, OX513A.
Trials led by University of São Paulo and Moscamed showed a >90% reduction of the mosquito population in the Itaberaba suburb of Juazeiro, Bahia, Brazil, reducing them enough to interrupt disease transmission. This is a far higher reduction than that seen with pesticides.
The “friendly mosquito” has not only reduced the mosquito population, but this correlates with a drop in dengue cases. As Pedro Mello, Piracicaba’s secretary of health, observed, “It is important to remember that in 2014/15 CECAP/Eldorado had 133 cases of dengue, the highest incidence in the city of Piracicaba…In 2015/2016, after the beginning of the Friendly Aedes aegypti Project, we had only one case.” Because of that success, the trials have been extended for another year and expanded to a larger area of the city.
There are conspiracy theories suggesting that Zika is a result of the Oxitec trials, among other even crazier proposals. The Mad Virologist has a great debunking post, noting that the location of the Brazil outbreak was nowhere near the field trials of Oxitec. There is no plausible explanation for how the modified mozzies could have fueled the Zika outbreak or microcephaly. Note, too, that Zika has been around and spreading since being found in Africa in 1947, long before this new technology became available. It’s important to note that the modified mosquitoes don’t go on eternally. The control is species specific and the released mosquitoes die within two weeks, preventing persistence in the wild. The fact that the mosquitoes are not self-sustaining is some of why there is interest in Wolbachia.
In researching this technology, I’ve spoken with a number of experts, including Cameron Webb (@MozzieBites), an entomologist at the Marie Bashir Institute of Infectious Diseases and Biosecurity, in Sydney, Australia, and Tanjim Hossain (@MosquitoMantra), an ecologist and entomologist from the University of Miami, among others. All feel the Oxitec technology is a reasonable addition to our armamentarium, but it is only one tool, to complement other approaches. Peter Hotez stresses the role of poverty, noting that it “promotes greater mosquito exposure to people who live in inadequate housing without screens or central air conditioning, or live next to degraded environments with trash and standing water that allow mosquitoes to breed.”
Some of the “reporting” prompted by the outlandish comments by conspiracy theorists appears designed as inflammatory click-bait…not unlike statements from certain politicians. Both are irresponsible.
There are no vaccines or effective treatments for Zika, Chikungunya, or dengue and care is supportive. The WHO recommends efforts to control the mosquito vector that spreads the disease. This is what the Oxitec and Wolbachia approaches are trying to do, monitoring for safety in the process. What would the conspiracists suggest as an alternative? Poisoning the planet with (ineffective) DDT? What happened to "First, do no harm?"
The deployment of these treated organisms is not being done casually.
Until we have new vaccines or medicines, what we have for safe control of these outbreaks are mosquito nets, eliminating pools of standing water around homes and in things like discarded tires and pots, and use of personal insect repellents.
Conclusion
Again, while there are risks with any technology or drug, we are facing a crisis with mosquito-borne arboviral infections spreading throughout Latin America and the Caribbean, and undoubtedly soon to threaten swaths of the continental U.S., as climate changes makes the habitat of southern states more welcoming and extends the mosquito range further north and west.
I, and many other scientists, prefer the use of targeted interventions with Wolbachia or Oxitec's genetically modified mosquitoes, to the alternatives of indiscriminately harmful pesticides or widespread, painful and debilitating infections of dengue, Chikungunya, yellow fever and now Zika.
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1b997d681242284994610a643bab4a82 | https://www.forbes.com/sites/judystone/2016/08/25/without-success-in-india-well-never-control-drug-resistant-tuberculosis-anywhere/ | Without Success in India, We'll Never Control Drug-Resistant Tuberculosis Anywhere | Without Success in India, We'll Never Control Drug-Resistant Tuberculosis Anywhere
Two newly released studies from India make the global fight against antibiotic resistance and drug-resistant tuberculosis (TB) feel even more daunting.
India is critical to the control of TB and other antibiotic resistance, as it is both the largest consumer of antibiotics in the world and has the highest burden of TB, affecting 2.2 million of its people each year, a quarter of the world total.
Global Cases of Tuberculosis (TB) | HealthGrove
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In the first of the studies, both published in The Lancet Infectious Diseases, Imperial College London researchers suspect that TB cases in India number 2-3x higher than previously estimated. Dr. Nimalan Arinaminpathy, lead author, explained “This is because many patients in India use the private medical system as opposed to the state system. However, this vast private system consists of a huge number of providers and is largely unregulated – meaning that most cases of TB seen in the private healthcare system are not reported to public health officials.” They based this on nationwide sales of tuberculosis drugs across the private sector, and then calculations of the numbers of patients likely associated with these drugs. They suspect that patients are sent off without the appropriate education and support and that they likely stop the treatment as soon as they feel better, rather than completing the requisite 6-9 months of therapy. This shortened and inadequate therapy is known to drive antibiotic resistance, as is being seen in Mumbai. This study was funded by the Bill and Melinda Gates Foundation and was a collaborative effort.*
courtesy Stop TB Partnership
In the second study, funded by the Gates Foundation and Grand Challenges Canada, researchers at McGill University’s Faculty of Medicine and others** sent “standardized” patient actors to pharmacies in three large Indian cities to see how pharmacists treated patients with symptoms of TB.
The good news, such as it is, is that pharmacists did not dispense first-line anti-tuberculosis drugs and, if the patient presented lab confirmation of tuberculosis, 67% were referred to appropriate specialized treatment centers.
The bad news is that if patients just recounted symptoms of TB, only 13% of the 599 patients were treated correctly, that is referral to a health-care provider without any antibiotics or steroids. Others were instead treated for bronchitis or pneumonia with antibiotics and/or steroids, including some 10% with quinolones, despite the restrictions on their use.
“In 2013, regulations were further tightened, with anti-tuberculosis drugs (isoniazid, rifampicin, ethambutol, and pyrazinamide) and some fluoroquinolones (such as moxifloxacin and levofloxacin, used in the treatment of tuberculosis) listed on a newly created Schedule H1. For H1 drugs, pharmacies require both a prescription from a qualified medical practitioner and a separate register.”
Also of note was that 60% of the referrals were to private doctors and the remaining 40% were to the public, government sector. A patient was referred to a directly observed treatment, short-course (DOTS) centre in only three instances. Directly observed therapy is critically important to ensure compliance, especially when a patient has to take multiple medications over a period of many months. If they stop prematurely, the bacteria will develop resistance.
Personal perspective
The findings above resonated with me because in 2011, I was invited to spend five weeks in rural, northern India studying drug resistant TB with my daughter, who researched that for her MPH thesis. It was an eye-opening experience. We worked with two hospitals, one private and one government, and saw significant differences in care.
There are barriers to care beyond what one in practice might imagine here. For example, patients sometimes traveled for days, rather than hours, over difficult mountain terrain, to reach the hospital. Directly observed therapy, aka DOTS, which is the standard of care, is often not possible. We learned that instead of watching a patient take each dose of anti-TB meds, “DOTS” at one of the hospitals was what they called giving a patient a one month supply of medication and asking them to return the leftovers. Patients kept their tattered TB records with them and often had their X-rays as well. Another problem we saw was that if a patient was failing treatment or relapsed, only one new drug was added to their regimen, despite recommendations to the contrary, which fuels resistance.
What are standard infection control precautions and airborne isolation in the U.S. was non-existent in India, due to the prohibitive cost.
An Indian patient suffering from advanced tuberculosis (TB), is visited by his wife in a ward of The... [+] Rajan Babu Tuberculosis Hospital, the largest specialist TB hospital in Asia, in New Delhi in 2007. Photo FINDLAY KEMBER/AFP/Getty Images
Disturbingly, patients often went doctor shopping to private physicians in the community who were less likely to follow standard treatment courses. And often, as patients traveled long distances for work, they could not get consistent care at any one specific site.
Resistance is also driven by having subtherapeutic drug levels, either from the recommended doses being too low or from variations in formulations. An important new model shows that patient variability in a drug’s metabolism (pharmacokinetics) accounts for a significant number of emerging MDR cases. Per Dr. Tawanda Gumbo,“Patients receiving the same treatment regimens and doses show different drug concentration–time profiles, which also differ between days in the same patient.” INH and Rifampin, the mainstays of first-line TB therapy, showed a genetic influence in their metabolism, but two other drugs, ethambutol and pyrazinamide, were more affected by a patient’s weight.
Another critically important factor, the lack of adequate diagnostics, often comes into play, as was brought up last month by Drs. Lee Schroeder, Timothy Amukele, and Madhu Pai. In our little hospital in northern India, I saw that TB cultures and sensitivities were essentially unobtainable. Every specimen that was sent came back saying the media was “overgrown” and telling us to submit another specimen. Without reliable and timely sensitivities, physicians were forced to treat based on clinical response and often resorted to second line, more toxic antibiotics. It became a vivid lesson in the realities of rural practice and of the factors—social, economic, educational and geographic—that lead to the emergence of multi-drug resistant and XDR-TB.
Conclusion
Without a global, coordinated and aggressive response involving both the public and private sectors, we will lose the battle against TB and it will again become the world-wide scourge that it was before the discovery and development of antibiotics in 1944.
The complexities of this undertaking are daunting, and range from developing simple diagnostic tests that don’t require sophisticated equipment or training, to better education, to social support and treatment of related conditions like malnutrition and HIV. We are seeing more cases of MDR and XDR (essentially untreatable) TB emerging as effective drugs are being misused, yet there is little antibiotic development occurring, as it is not a profitable endeavor for pharmaceutical companies.
The problems highlighted by these studies in India are universal problems, not limited to India. It’s heartening to see this research was a collaborative effort between different universities in different countries, with funding from philanthropic and government groups.
*1 Study collaborators: IMS Health Inc; Central TB division, Government of India; World Health Organization, India Country Office; Bill and Melinda Gates Foundation
*2 Study collaborators: McGill International TB Centre, World Bank, Harvard Medical School, Access Health International, Johns Hopkins University, and Institute for Socio-Economic Research on Development and Democracy, India
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95cdef4924a2dc6bb00fe597362aff36 | https://www.forbes.com/sites/judystone/2016/09/01/serious-infections-skyrocket-in-people-who-inject-illegal-drugs/ | Serious Infections Skyrocket In People Who Inject Illegal Drugs | Serious Infections Skyrocket In People Who Inject Illegal Drugs
Bloodstream and heart valve infections are on the rise in people who inject drugs (PWID), more commonly known as IV drug users (IVDU). This is likely obvious to any hospitalist or infectious disease physician, but the magnitude is quantified in a new study.
Researchers at Tufts University Medical Center analyzed data from the Health Care and Utilization Project National Inpatient Sample (HCUP-NIS) from 2000-2013. During this period, they found an overall increase in IVDU-IE (infective endocarditis, or heart valve infection) from 7 to 12%, and the demographics are shifting as well. I suspect, from my own practice experience, that the rate is increasing more rapidly now.
I work episodically at several small rural hospitals scattered through Pennsylvania. Each time I have worked in recent years, I have cared for PWID who have nasty bloodstream or heart valve infections, often with bad soft tissue abscesses at injection sites and infected clots in their lungs (septic emboli) from bits of necrotic tissue falling off the heart valve and traveling to the lung. Recently, a quarter of my small census had these types of problems, where previously it was a notable occurrence.
Endocarditis can occur from several reasons, including congenitally abnormal heart valves being more susceptible to infection, often precipitated by dental or wound infections. In the U.S., approximately 16% of IE is due to injection of illicit drugs. Looked at the other way, between 5% and 20% of PWID have had IE, depending on the study definitions. Further, up to 80% of those PWID also have hepatitis C, which can result in cirrhosis and liver cancer.
This study, reported in Open Forum Infectious Diseases, found a shift in who developed IE. There was a significant increase in the percentages of IVDU-IE hospitalizations among 15-to-34-year-olds (27.1%–42.0%) over the 13-year span. Whites (40.2%–68.9%) increased disproportionately. While fewer women than men had IVDU, it was more common in the 15-to-34-year-old age group (53%) than older people. The researchers also noted that the age distribution was bimodal, similar to that for HepC.
Scope of the intravenous drug problem globally
The United Nations Office on Drugs and Crime (UNODC)’s 2015 estimate for the number of PWID worldwide for 2013 was 12.19 million, or 0.26% of adults aged 15–64 years. The highest prevalence of PWID was in Eastern and Southeastern Europe, with 1.27% of the adult population was estimated to be injecting drugs—almost five times the global average. But in terms of total numbers, East and South-East Asia are highest, with an estimated 3.15 million people, accounting for approximately one in four PWID worldwide.
Globally, 40-60% of individuals who use injection drugs are estimated to be positive for Hepatitis B, and 60-70% are positive for Hepatitis C virus.
In terms of HIV, about 1.65 million PWID were estimated to be living with HIV globally, corresponding to 13.5% of PWID being HIV-positive.
Strikingly, in the U.S., 50-80% of PWID become infected with HCV within 6-12 months of starting injecting drug use, something that would be largely avoidable with safe needle exchanges.
Consequences
Several complications are common among IVDU, including the emboli to the lungs and severe pneumonia. It is not uncommon for these patients to require ICU care and, sometimes, ventilatory assistance.
These patients commonly require weeks of IV antibiotics. While there is a trend to try shorter treatment courses than the traditional 4-6 weeks, not all physicians are comfortable doing so. Because of the IV drug abuse, they are not candidates to be treated with home IV therapy and some nursing homes are unwilling to accept them. Clearly, the prolonged care that is required is enormously expensive…and most of the patients are uninsured.
IVDU-IE often has a bad outcome, with an 11%–26% in-hospital mortality and estimated 12%–50% five-year mortality. Readmission rates in IVDU-IE patients are also high (approximately 50%). Sometimes patients require surgery to replace their heart valves, but my experience is that surgeons are extremely reluctant to operate, primarily because the patients are high risk and difficult to care for. One series noted a 10% in-hospital death rate post-surgery.
Priorities
While this study focused on the increase in IVDU, especially among young women, other things are striking to me as well. For one, we spend millions of dollars caring for these patients’ acute infections, but the mental health and substance abuse counseling they need to recover and not relapse are very, very limited. This is but one example of misplaced priorities.
Another is the reticence of most communities to adopt rational needle exchange programs, let alone, as in Vancouver, to have supervised centers where people can inject more safely. This would help not only reduce bloodstream infections and abscesses, but would markedly decrease the HepC and HIV/AIDS epidemics. Further, these centers are also sites equipped to provide people with better access to services to help with their addiction.
Even Governor Michael Pence was forced to face realities of the consequences of the misguided war on drugs when a rural Indiana town had over 150 cases of HIV. According to CDC Director Tom Frieden, tiny Austin, Indiana, with its population of only 4,200, now has a higher incidence of HIV than "any country in sub-Saharan Africa… They've had more people infected with HIV through injection drug use than in all of New York City last year." This was due to multiple factors, including the high rate of poverty (25%) and high school dropouts, the lack of jobs and closure of the local Planned Parenthood where local people received HIV and STD counseling and testing, contraceptives and other preventive care. After Indiana defunded Planned Parenthood, there was only one physician in Austin, and no HIV testing.
Under pressure from the HIV epidemic, Pence reluctantly agreed, albeit late in the game, to allow needle exchanges to curb the growing epidemic. The Chicago Tribune’s David Rutter (@theeditor50) concluded:
The public's HIV treatment bill for Austin will run $200 million once the epidemic peaks—at least $1 million to save each uninsured patient, say health experts. It's the price of inattention and indifference. For at least once in its life, Scott County will be remembered.
In many ways, this HIV epidemic is little different than the growing epidemic of Hepatitis C, with its extraordinarily expensive treatment (coming in at $1,000 per day), or the increase in ineffective endocarditis.
Each of these problems is rooted in poverty, joblessness, mental health issues and lack of resources from government. Especially culpable are the governors who refused Medicaid expansion, defunded Planned Parenthood and are otherwise letting their conservative politics and religious beliefs trump common sense and public health needs.
A related problem is the availability of naloxone (Narcan), which is used to reverse drug overdoses. Some states are making the drug available without prescription, in an attempt to lower opioid deaths. But others, like Maine’s Governor Paul LePage, don’t want to help PWID. He famously said, “Naloxone does not truly save lives; it merely extends them until the next overdose,” and vetoed such legislation. Fortunately, the Maine legislature overrode his veto. Problems with accessibility of Naloxone continue because of price gouging.
So even something as seemingly straightforward as a bloodstream infection has multiple social layers that have to be addressed to stem the problem. These include pharmaceutical pricing, mental health and other social determinants of health.
Conclusion
IVDU-IE rates are increasing significantly and are shifting to reflect younger PWID who are more likely to be white and female. The rise is costly in terms of both the human toll and the burden on our healthcare systems. Unfortunately, conservative politics and ideology are again adding unnecessary expense and trumping people's health needs. We must focus on preventing these infections by addressing the opioid epidemic and mental health issues.
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7655e2d66801c2491948693f4353d7b3 | https://www.forbes.com/sites/judystone/2019/12/21/staying-safe-through-the-wintercarbon-monoxide-the-silent-killer/ | Staying Safe Through The Winter - Carbon Monoxide, The Silent Killer | Staying Safe Through The Winter - Carbon Monoxide, The Silent Killer
FILE - In this Jan 30, 2019, file photo, first responders evacuate a person found in sub-freezing ... [+] temperatures on the banks of Carter Lake, in Omaha, Neb. The dangerous cold and heavy snowfall that hobbled the northern U.S. this week has retreated, but not before exacting a human toll: more than 20 deaths and hundreds of weather-related injuries including frostbite, broken bones, heart attacks and carbon monoxide poisoning. (AP Photo/Nati Harnik, File) ASSOCIATED PRESS
Although winter is just beginning, severe storms with high winds have already brought power outages throughout the country. This raises the risk of carbon monoxide poisoning (CO) a great deal.
Each year, about 50,000 people visit emergency rooms and more than 400 die in the US due to accidental carbon monoxide poisoning, not related to fires. The riskiest states were Wyoming, Alaska, Montana, North Dakota, and Nebraska. Surprisingly, California and the Northeast were the lowest risk.
Symptoms of CO poisoning are nonspecific and can include headache, dizziness, weakness, upset stomach, vomiting or diarrhea, chest pain, and confusion. Many of the symptoms can be confused with the flu or other viral infection, except there is no fever with the poisoning. People who are asleep might not be awakened with such symptoms and could die in their sleep.
CO poisoning in our town
Our town, Cumberland, Maryland, is no stranger to CO poisoning. We were made famous in 1911 in the NYTimes, in “The Strangest Poison Mystery in Criminal Annals.” A young couple, Charlie Twigg and Grace Elosser were to be married on New Year’s Day. They met the evening before and were soon found dead in the parlor. It was weeks before the mystery was solved. Unfortunately, a Dr. Littlefield tested his hypothesis by locking a cat in the parlor. It, too, quickly died, supporting that the murderer was the gas stove in the sitting room.
Another fatal case occurred in 2013, when an elderly man vacationing at the annual festival of Vegas-style gambling at the Allegany County fairgrounds died. His wife was also critically ill. The source was the generator adjacent to their RV, as Deborah Blum noted in her aptly titled, “While You Were Sleeping” article.
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We’ve had other problems with CO. Just last month, CBIZ Financial Services had to be evacuated. While employees smelled what they thought was gas. It turned out not to be—but the fire department found high levels of CO from a gas boiler.
Sources of CO poisoning - winter
While many of us know that CO poisoning commonly comes from exhaust from cars or furnaces, there are other risks you should be aware of.
Poisonings spiked after some hurricanes and natural disasters. Why? Because of the use of portable generators. Likely, cases are undercounted.
During the winter, major sources of poisoning are malfunctioning heating systems, improperly vented kerosene heaters, camp stoves, or grills. There were over 200 cases from underground utility cable fires in a four year period in NYC. These were anecdotally linked to road salt applications for de-icing, leaking into the cables and igniting fires. Some of these could be prevented by careful attention to infrastructure maintenance.
Vehicles can kill
If you are stuck in a snowstorm, be careful, because if the tail pipe is blocked by snow, the exhaust can enter the car. Lifewire cautions that stopping and starting the motor while trying to stay warm can result in higher CO levels than just running the ignition continuously.
One overlooked source of CO poisoning is from keyless-ignition vehicles. Over half of new vehicles use a fob that transmits a radio signal to start the car with a push button. The problem is that many people don’t realize that the car does not turn off on its own. More than three dozen people have been killed because of this since 2005. According to the NY Times, the auto industry has opposed a software change that would prevent this, though it only cost pennies per car. The Society of Automotive Engineers proposed this in 2011, but it has yet to happen. Now Heidi King, the current head of National Highway Traffic Safety Administration, says the agency requires more information.The PARK IT Act (S. 543), which would require an automatic shutoff, was introduced by Senators Richard Blumenthal (D-CT) and Edward Markey (D-MA); unlike runaway cars, the bill is going nowhere at the moment.
Since CO can diffuse through gypsum wallboard and floorboards, poisoning can occur from neighboring units in a building or an adjacent garage.
Police stand outside the house where four family members were found dead Monday, Dec. 18, 2006, in ... [+] Burien, Wash., of apparent carbon monoxide poisoning after running a generator in their garage, raising the death toll from last week's fierce windstorm to 12. The four, one woman and three males, the youngest a 14-year-old boy, were found in the home in Burien, along with another relative who was clinging to life, said King County sheriff's Sgt. John Urquhart. (AP Photo/Elaine Thompson) ASSOCIATED PRESS
Lodging
Thirty-eight states require CO detectors in homes. Only about half of the states require them in rentals. No states require detectors in public housing. Airbnb does not yet require the monitors, but strongly encourages them and will provide a free monitor to the host for the rental unit.
A few months ago, I learned that in most states, hotels and motels are not required to have CO detectors. I’ll have details in an upcoming story.
How to protect yourself and your family:
Remember—CO is odorless, tasteless, and colorless so may not be detected prior to symptoms—or death. Have working CO detectors in your home, especially near sleeping areas.
Take a portable CO detector with you when traveling.
Make sure your home’s dryer, furnace, and fireplace are properly vented. The same is important for car tailpipes, that can become clogged with snow.
Don’t start the car to warm it in a closed space, or leave it running in the garage, even if the door is open.
If your car has a keyless ignition, double-check that you have turned the engine off.
If your electricity is out, do NOT use the gas stove, a charcoal grill, or a fuel-powered space heater to warm the area. Keep gas-powered generators or engines at least 20 feet away from the house.
Ask your senators to support commonsense solutions to a deadly problem—such as requiring car manufacturers to have automatic ignition shutoffs and CO monitors and requiring all lodging have such detectors. In the meantime, your safest bet is to take a CO detector with you when traveling.
It could be another brutal winter. I hope you stay safe with these tips.
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79e62a84e11e97580cc5fd2e9a65629a | https://www.forbes.com/sites/judystone/2020/08/18/what-do-coronavirus-and-lyme-disease-have-in-common-more-than-you-might-think/?sh=319e831e37e3 | What Do Coronavirus And Lyme Disease Have In Common? More Than You Might Think | What Do Coronavirus And Lyme Disease Have In Common? More Than You Might Think
Ill woman with headache and fever. What does she have? getty
Like an unwanted stepchild, Lyme keeps getting lost in the shuffle. This time, it is Covid-19 pandemic that is understandably overshadowing it. But Lyme continues to infect an estimated 300,000 people in the US each year and there are some parallels between the two illnesses, as well as obvious differences.
Clinical notes
While Lyme and Covid-19 are very different infections, the former caused by the bacteria (Borrelia burgorferi) and the latter a virus (SARS-CoV-2), there are a couple of notable similarities. The most striking to me is that both are great masqueraders. Covid-19 symptoms range from asymptomatic, to life-threatening respiratory failure from pneumonia. More surprising symptoms include loss of smell (anosmia) and the multisystem inflammatory syndrome in children (MIS-C) (initially thought to be Kawasaki disease), clotting abnormalities, and heart involvement. This can include arrhythmias and heart inflammation or damage as is seen with heart attacks. The virus appears to attack the endothelial cells lining blood vessels, causing some of the array of peculiar symptoms.
Both Lyme and coronavirus often start with non-specific flu-like symptoms with fever, headache, and general achiness and fatigue. Lyme has protean presentations, ranging from the typical skin rash, to arthritis, and heart or neurologic involvement.
Both infections are also notable for having “long-haulers,” patients with inexplicably prolonged and very debilitating symptoms, and for patients complaining of “brain fog” and marked fatigue. This is been more quickly recognized and accepted following Covid-19. Perhaps this is because the whole infection is peculiar and we are more open to learning about it; perhaps it is because Covid-19 seems to strike men more than women, whose symptoms are often taken less seriously.
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Diagnostics
One of the major problems with coronavirus is our difficulty diagnosing it. The antigen tests have been unreliable with false negatives in up to 30% of tests (saying that someone is not infected when they are) and lesser inaccuracies (< 5% for false positives). With coronavirus, scientists have only been working on diagnostics for ~6 months. Researchers just announced what appears to be a major breakthrough with a more accurate and rapid test using saliva, SalivaDirect.
Yet with Lyme, despite years of study, diagnostic tests are likely only ~50% accurate in diagnosing the disease.
Research and funding
The government has thus far authorized $3.7 trillion for coronavirus support, including $25 billion for testing.
In contrast, funding for Lyme and other vector-borne diseases is consistently far lower than for other infectious diseases. The CDC reported to me that:
“The FY20 enacted appropriation was:
—$38.6M for vector-borne diseases, which is being used to prevent and control mosquito-borne, tickborne, and fleaborne diseases, and
—$14M for Lyme and other tickborne diseases, which was dedicated entirely to tickborne disease prevention and control activities.
—We do not further delineate between the budget dedicated to mosquito-borne vs. tickborne disease funded by the vector-borne disease line.”
Federal funding for Lyme vs other infections HHS
According to the Tick-Borne Disease Working Group’s 2018 report to Congress, “ Federal funding for tick-borne diseases is less per new surveillance case than that of other diseases. The U.S. National Institutes of Health (NIH) and CDC spend $77,355 and $20,293, respectively, per new surveillance case of HIV/AIDS, and $36,063 and $11,459 per new case of hepatitis C virus, yet only $768 and $302 for each new case of Lyme disease. Federal funding for tick-borne diseases today is orders of magnitude lower, compared to other public health threats, and it has failed to increase as the problem has grown."
Given the devastating scope and toll of the coronavirus pandemic, it is understandable that many approved drugs are being studied for Covid-19. Somewhat surprisingly, there are still more than twenty trials ongoing with hydroxychloroquine, in addition to novel therapies. There are almost no active treatment studies for Lyme disease.
Lyme and other tick-borne diseases are expanding in the US along with the range of ticks.
Between Covid-19 and Lyme, is this how we will be getting our exercise--alone and inside? Triathlete ... [+] Lloyd Bebbington trains in the conservatory at home. (Photo by Jon Super/Xinhua via Getty) (Xinhua/Jon Super via Getty Images) Xinhua News Agency/Getty Images
There are small glimmers of hope for progress on Lyme disease. New diagnostic tests are in development by Columbia University with NIAID support, for example. NIH has also recently granted $3 million to HelixBind to develop a new assay for Lyme. Their approach has been successful in diagnosing blood stream infections. Currently, early Lyme is diagnosed by the presence of a large and expanding rash sometimes with a bull’s eye clear center, but 30% of patients never get a rash, or it can be atypical and misdiagnosed. Blood tests negative early on, because it can take several weeks for antibodies to develop. HelixBind uses a molecular diagnostic assay which can detect <1 cell of Borrelia per milliliter of blood, Alon Singer, HelixBind’s CEO explained. Their assay can also differentiate between B. burgdorferi and other species like B. miyamotoi, which causes relapsing fever. The grant will enable them to test clinical samples; the hope is that they will be able to detect Lyme much earlier and to better follow the course of disease.
The other good news regarding Lyme is the approval of nootkatone for use as an insect repellent. This chemical is present in grapefruit skin, giving it the characteristic smell and taste. It already was approved for flavoring and in perfumes. The CDC’s Dr. Ben Beard said, “There’s a huge need for a soft soap or shampoo…ticks that you don’t wash away could potentially be killed by a soft soap or shampoo.” Nootkatone would hopefully thus prevent acquiring Lyme or other tick-borne diseases. It is also effective against mosquitoes and is being developed for these uses by Evolva.
If Lyme had a fraction of the funding that coronavirus or many other infections do, imagine the progress that might be made.
Full coverage and live updates on the Coronavirus
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bf7e7db570aaaabf5a011388390abbe6 | https://www.forbes.com/sites/judystone/2020/11/09/president-elect-biden-names-new-covid-19-task-force--whats-the-enthusiasm-about/?sh=42a8c506458f | President-Elect Biden Names New Covid-19 Task Force – What’s The Enthusiasm About? | President-Elect Biden Names New Covid-19 Task Force – What’s The Enthusiasm About?
WILMINGTON, DELAWARE - NOVEMBER 09: President-elect Joe Biden and Vice President-elect Kamala Harris ... [+] receive a briefing from the transition COVID-19 advisory board on November 09, 2020 in Wilmington, Delaware. The COVID-19 Advisory Board is comprised of 13 doctors and scientists and will be led by Dr. David Kessler, former Food and Drug Administration commissioner, Dr. Vivek Murthy, former U.S. Surgeon General, and Dr. Marcella Nunez-Smith, a professor at Yale University. (Photo by Joe Raedle/Getty Images) Getty Images
President-elect Biden announced the members of his new Coronavirus Task Force this morning. He prefaced it by noting, “Dealing with the coronavirus pandemic is one of the most important battles our administration will face, and I will be informed by science and by experts.” “The advisory board will help shape my approach to managing the surge in reported infections; ensuring vaccines are safe, effective, and distributed efficiently, equitably, and free; and protecting at-risk populations.”
Biden made his remarks as the US is seeing a surge in cases, now passing 10 million, with more than 1000 cases per day. He added a plea to wear masks—“It doesn’t matter your party, your point of view. We can save tens of thousands of lives if everyone would just wear a mask for the next few months.”
The new board includes the following:
Co-chair, Dr. Vivek H. Murthy, who served as surgeon general during the Obama administration. He also began Doctors for America, an organization focused on healthcare reform. Murthy had experience with Zika and Ebola, and had a particular interest in the opioid epidemic and violence in communities. Speaking to Dr. Abraham Verghese, he reflected, “But I also worry about the erosion — "erosion" is probably too light a word — the destruction of public trust that has taken place during these past 7 or 8 months in particular. I really believe that when you're responding to a pandemic, public trust is one of your most important assets. You need to do everything possible to cultivate that trust and to be deserving of that trust.”…“I'm deeply worried too. A lot of this starts with us recognizing what's going to guide us through this. It's going to be science. It's going to be the research that's being done. It's going to be the best practices that we've developed, from epidemic after epidemic, pandemic after pandemic, that we've worked on over the years.”
Co-chair Dr. David Kessler, who was the Food and Drug Administration commissioner under two administrations—Presidents George H.W. Bush and Bill Clinton. He has previously stressed the importance of keeping political influences out of the FDA and medical decision-making. A pediatrician by training, he had a particular interest in nutrition labeling and tobacco regulation.
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Co-chair Dr. Marcella Nunez-Smith is the associate dean for health equity research at the Yale School of Medicine and the founding director of the Equity Research and Innovation Center at Yale School of Medicine. Clearly, she should be a big asset in Biden’s interest in “protecting at-risk populations.”
Other Task Force members are:
Rick Bright, PhD, (Trump’s) former director of the Biomedical Advanced Research and Development Authority. After being demoted (reportedly for opposition to use of hydroxychloroquine for Covid-19), he spoke out candidly and critically about the administration’s approach to the pandemic.
Dr. Luciana Borio (@llborio) was director for medical and biodefense preparedness on Trump’s National Security Council (NSC) until 2019. She is VP at In-Q-Tel, Senior Fellow for Global Health at the Council on Foreign Relations, former FDA Acting Chief Scientist and assistant commissioner.
Ezekiel Emanuel, MD, PhD (@ZekeEmanuel) is an oncologist and chair of the Department of Medical Ethics and Health Policy at the University of Pennsylvania as well as Vice Provost for Global Initiatives. He also chairs the Department of Bioethics at The Clinical Center of the National Institutes of Health (NIH).
Dr. Atul Gawande @Atul_Gawande) a surgeon at Brigham and Women’s Hospital and a professor at Harvard Medical School. He also writes prolifically (The Checklist Manifesto, The Atlantic). Gawande is “the founder and chair of Ariadne Labs, a joint center between Brigham and Women’s Hospital and the Harvard T.H. Chan School of Public Health for health systems innovation,” and was an advisor in the Clinton Administration.
Dr. Michael T. Osterholm (@mosterholm) director of the Center for Infectious Disease Research and Policy at the University of Minnesota and experienced epidemiologist.
Dr. Eric Goosby, global AIDS coordinator under President Obama and professor of medicine at the University of California at San Francisco School of Medicine. He was founding director of the Ryan White CARE Act, and has considerable international experience with HIV and TB.
Dr. Celine R. Gounder @celinegounder), clinical assistant professor of medicine and infectious diseases at New York University’s Grossman School of Medicine. She is a physician and medical journalist with years of experience combating HIV and tuberculosis outbreaks throughout Africa, Brazil, and NYC. Dr. Gounder is also the host and producer of In Sickness and in Health, a podcast on health and social justice.
Dr. Julie Morita, executive vice president of the Robert Wood Johnson Foundation, and former Chicago health commissioner for two decades. She’s a pediatrician with an interest in health equity.
Loyce Pace, MPH, is president and executive director of the Global Health Council. Her particular interest is access to essential medicines and health services globally.
Dr. Robert Rodriguez, professor of emergency medicine at the UCSF School of Medicine and frontline Covid-19 physician, with particular interest in the mental health of frontline providers.
Two additional transitional advisors are Drs. Rebecca Katz, director of the Center for Global Health Science and Security at Georgetown University Medical Center, and Beth Cameron, director for global health security and biodefense for President Obama’s White House National Security Council.
These are the preliminary members of Biden’s Coronavirus Task Force, and they intend to add more members. I asked Dr. Krutika Kupalli, assistant professor at Medical University of South Carolina and Emerging Leader in Biosecurity what she would look for. “As they build the team, here are people we hope they will add: Social scientists, nursing leaders, people with biosecurity experience, some younger people with more front-line experience.”
I would hope that they might specifically add Drs. Anne Schuchat and Tony Fauci, both of whom are on Trump’s current board, at least in name; Dr. Margaret Hamburg, who is a well-respected infectious diseases specialist as well as former FDA commissioner; and more people in the trenches—front line nurses and physicians like Drs. Rob Davidson and Craig Spencer (survivor of Ebola and Covid).
Dr. Saskia Popescu, member of the Federation of American Scientists (FAS) Coronavirus Taskforce and George Mason University faculty, echoed the enthusiasm about the Task Force: “this is a very comprehensive, diverse group of public health and science advocates that I feel will create a very wholistic approach to COVID response.”
The group is a decided contrast to that on Trump’s team, which is heavy on administrators and (with rare exception) short on diversity and clinical experience. In addition to their scientific chops, the team members clearly have a strong interest in health disparities, social justice, and care of frontline workers.
Today’s announcement is being met with excitement and joy by those wanting to see a science based approach to the coronavirus pandemic.
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83895fb69b5da97a4a71e02bcc22515b | https://www.forbes.com/sites/judystone/2020/12/03/the-peoples-vaccine-modernas-coronavirus-vaccine-was-largely-funded-by-taxpayer-dollars/?sh=1363197b6303 | The People’s Vaccine—Moderna’s Coronavirus Vaccine Was Largely Funded By Taxpayer Dollars | The People’s Vaccine—Moderna’s Coronavirus Vaccine Was Largely Funded By Taxpayer Dollars
Coronavirus Covid-19 Protection and Vaccine. getty
Moderna just announced exciting new results for “their” mRNA candidate vaccine—the vaccine was 94.5% effective in preventing Covid-19 infection compared to placebo. Only 11 volunteers who received the vaccine developed symptoms compared to 185 in the placebo group. Critically important is that no one who was vaccinated developed serious Covid-19 infections, while 35 of those receiving placebo did.
That is terrific news, far better than we would have imagined. There are a couple of caveats, however. First, the results were again given by press release, rather than actually making the data transparently available for others to analyze.
The other problem is that it is not really “Moderna’s vaccine.” It would be more appropriately called the “People’s vaccine,” as Peter Maybarduk, director of Public Citizen’s Access to Medicines Program, has noted. It’s “the NIH’s vaccine. It is not merely Moderna’s vaccine. Federal scientists helped invent it and taxpayers are funding its development. We all have played a role. It should belong to humanity.”
Moderna has received almost a billion dollars from BARDA (Biomedical Advanced Research and Development Authority, part of HHS). That’s all money from our taxes. On top of that, Moderna cut a deal —worth more than $1.5 billion—with the federal government for an initial 100 million doses of the vaccine. Moderna executives also profited handsomely from stock sales that just happened to coincide with announcements of results, with amounts of the top three totaling about $100 million. NPR critically noted that the company was valued at about $6 billion earlier this year, although it had never brought a product to market. Analyst Peter Cohan suggests the company might add as much as $30 billion to its revenues.
How is it that pharmaceutical companies are profiting so handsomely from government-funded research? It goes back to the Bayh-Dole Act, a 1980 bipartisan bill sponsored by Indiana Democrat Birch Bayh and Kansas Republican Bob Dole. At that time, less than 5% of government owned inventions were translated into commercial production. The law gave the patents from government funded research to universities and small businesses and they in turn partnered with private partners to make useful—and profitable—products. This huge give away was felt to be the price of innovation.
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A 2018 survey estimated that such government grants came to $100 billion which funded basic research subsequently used by the drug companies. In fact, NIH funded “published research associated with every one of the 210 new drugs approved between 2010 and 2016.
Now, more than ever, one might question the wisdom of such a vast give away. Fortunately, there was a sort of safety provision, which the US government kept a nonexclusive, nontransferable, and irrevocable license to the invention. The right to claim this use is called a “march-in right.” It is intended to be used when health needs are being unmet. It is sometimes explained as if the patent holder doesn’t make the medicine "available to the public on reasonable terms.” This is not well-defined, but often interpreted as affordable. Unfortunately, the government never exercised its march-in rights, even when asked to do so.
Some are urging use of march-in rights now, particularly since it appears that the government will co-own patents with Moderna, as Axios has reported. The stabilized spike protein that Moderna relied on as the base for the vaccine was developed by NIH scientists and the government consequently has "sought patents to preserve the government's rights to these inventions." Moderna also explicitly stated it would not enforce patents during the pandemic, prompting Maybarduk to comment, “We salute Moderna for taking that step.” But whether they will share their technological knowledge to save lives, is a key, unresolved question.
Ah, but there is another monkey wrench. Some of the companies have simply deleted the key phrase “on reasonable terms” from their contracts with BARDA. Other companies put in other clauses limiting the government’s options. One example is Genentech’s Regeneron.
Thankfully, Moderna’s contract did not waive government rights...But how can BARDA/HHS waive a law (Bayh-Dole) that says the government retains a nonexclusive, nontransferable, and irrevocable license?
The issue of equitable access to drugs—particularly those developed with public monies, is not limited to Moderna, nor to Covid. We have seen the same issue with Gilead and Remdesivir. Genzyme’s treatment of Fabry disease is called Fabrazyme, and is the only approved drug for the condition. A shortage and rationing of the drug is a poster child illustrating when the march-in clause should have been implemented.
Nootkatone, a natural insect repellent that holds great promise for mosquito and tick-borne diseases, was also discovered and developed by the CDC. Now with funding from the CDC and BARDA, Evolva is commercializing products; CDC has no financial benefit per emails with the company.
Public Citizen, a national non-profit consumer protection and advocacy organization, has been particularly critical of pharma’s profiteering in the midst of this pandemic. They note that the co-ownership of patents means that the “government could make, use, or sell the technology without the consent of Moderna (or other company) It could also license the technology to others, including other vaccine manufacturers or the World Health Organization, without the consent of Moderna.” It would still leave the drug companies with significant profits.
With an emphasis on equitable access to medicines, Maybarduk stressed to me that no single corporation could produce vaccine at the scale we need to supply everyone’s needs. He estimates are that it will take four-five years to get vaccine to everyone in the world and stressed that we have the opportunity to make the vaccine available to all and to prevent rationing. He concluded our interview with a hope for the Biden administration: “We have to ask—and when necessary insist—that drug makers abide by what the public needs. That requires its own political culture and its own courage.”
Full coverage and live updates on the Coronavirus
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717c13ff50f89361f2fc6811ac456645 | https://www.forbes.com/sites/judystone/2021/01/26/covid-killed-a-tiger-are-your-house-cats-at-risk/?sh=229983512cb2 | Covid Killed A Tiger. Are Your House Cats At Risk? | Covid Killed A Tiger. Are Your House Cats At Risk?
Eight-years old tiger "Girl" lays at her enclosure in the zoo in Halle, eastern Germany, on March ... [+] 25, 2011. WALTRAUD GRUBITZSCH/DPA/AFP via Getty Images) DPA/AFP via Getty Images
Last spring I wrote about Nadia, the Malayan tiger at the Bronx Zoo who was ill with Covid. So was her sister, Azul, two Amur tigers and three African lions. Fortunately, they all recovered. Azul recently moved to the Woodland Park Zoo in Seattle, in the hopes of mating with their male, Bumi.
Now we have the sad news from Sweden, via ProMed mail, that a 17-year old tiger was euthanized on January 11 due to Covid-19. She had only been ill for two days, initially with loss of appetite, but then she developed severe respiratory distress and neurologic symptoms, prompting the decision. She was found to have the global lineage B1.177.21 strain of Covid. A male tiger who shared her enclosure was also ill with moderate respiratory symptoms. Four other lions held in the same house were also ill and confirmed to be infected with the SARS-CoV-2 virus.
Of the zookeeper staff, one was ill and tested positive; the others’ results are pending, as are the genomic tests to show if they are all the same virus strain strain.
Tigers and lions have also previously confirmed to have been infected at the Knoxville Zoo and in Barcelona, respectively this fall. They were all much younger and did not develop severe illness.
Three gorillas recently tested positive at the San Diego Zoo Safari Park. All had the B.1.429 lineage (strain) of virus, circulating in California now. One was elderly with heart problems and pneumonia. The silverback gorilla, Winston, was treated with antibiotics and a (nonhuman) monoclonal antibody; all have recovered.
Three families of carnivores have been known to be infected so far: dogs (canids); cats (felids), which includes tigers, lions, puma/cougar, and snow leopards; and the mink/ferret family (mustelids), which also includes weasels, badgers, otters, martens, and wolverines, among others.
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To date, “the strongest evidence we have for the potential for an animal species to serve as a reservoir is in domestic commercial mink operations, where there is evidence that workers on the operations were exposed to SARS-CoV-2 from infected mink either directly or through the environment…” per Meghan F. Davis, DVM MPH PhD, of the Johns Hopkins Bloomberg School of Public Health. Risk is heightened because the mink are housed in densely and enclosed areas.
Pet cats and dogs
Thus far, pet cats have not been a known source of human infection. There have been only the occasional cases of cats becoming ill from their owners, and they have only been mildly ill. But it would be prudent to keep some distance from your pet if you are ill with Covid, so as not to accidentally infect them. If you have to care for them yourself, wear a mask and wash your hands before and after you touch or pet them.
Note that In the spring of 2020, almost 15% of cats tested in Wuhan, China had antibodies to SARS-CoV-2 virus, suggesting they either were infected by people or other cats.
A study from the Harbin Veterinary Research Institute in China did find that cats could be infected by inoculating their noses with virus. Disturbingly, they found that uninfected cats who were placed in adjacent cages then became infected, too. Stay tuned.
Dr. John Howe, Past President of the American Veterinary Medical Association, previously explained that pet fur is very porous and would tend to trap the virus, making it difficult to pick up from your pet’s hair. If you have concern, as from someone else touching your pet, he suggested just wiping their coat with a damp cloth or a soap suitable for pets—do not use sanitizing wipes, disinfectants, hand sanitizer or similar, some of which are likely to be somewhat toxic to the pet. The CDC has more advice if you become concerned about your ill pet who has been exposed to Covid.
If your cat does become sick, you do not need to abandon it or give it away. It will likely only be mildly ill. Howe noted that in the few cases of infected house cats, “all recover and don’t spread it to people.” Wearing a mask and careful hand washing would protect you from most infections from animals.
Grumpy Cat aka Tardar Sauce attends Grumpy Cat's "Grumpiest" Birthday Bash on April 29, 2014 in New ... [+] York City. (Photo by Daniel Zuchnik/WireImage) WireImage
There are fewer reports of pet dogs becoming infected than cats. Three beagles were able to be infected in lab studies by inoculating their noses, but they did not develop symptoms.
A concerning problem is that of infections in mink farms, which have now spilled into the wild. This has the potential to become a major reservoir for viruses that might mutate and reinfect people. Scientists from the University of East Anglia have raised the question of whether dogs and cats will need to be vaccinated against SARS-CoV-2 virus to help prevent such spillover in the future.
We have not seen evidence that livestock such as pigs, ducks, and chickens are susceptible to Covid, nor have we seen outbreaks in those groups, from several studies in different countries.
Staying safe
As of now, person-to-person spread via droplets and aerosols remain the major route by which people become ill with Covid-19. An ironic recent example is an outbreak of Covid in Chile among people attending a birthday party for a cat. Ten people’s infections were traced directly to the party; an additional five were friends and family of the cat’s owner.
The best way to prevent infection is to distance, quarantine, and wear masks until we can get most of our human population vaccinated.
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8ccb7b50f1ec2e5b4a4ae4b244172854 | https://www.forbes.com/sites/judystone/2021/02/25/mutual-aid--how-you-can-help-texas-while-calling-from-home/?sh=6a7dea3a3fe9 | Mutual Aid – How You Can Help Texas, While Calling From Home | Mutual Aid – How You Can Help Texas, While Calling From Home
Last week, looking for a personal way to help Texans, I came across a announcement on Twitter like this:
I attended a brief training session, joined a Slack group for Powered by People (PxP), an organization founded by Beto O’Rourke, and then started making calls to Texas, asking people if they had electricity, water, food, and heat, and if they had other urgent needs. These wellness checks are ongoing; the needs in Texas are huge and not being met by the government. Instead, networks of volunteers are stepping up. As of February 23, PxP had made initial wellness checks on over 900,000 in only about the first 24 hours! They’ve had ~5000 volunteers on this relief effort—compounded by their partners delivering aid.
PBP’s organization is impressive. A Slack group keeps volunteer's communications organized. Another group of volunteers scours Twitter and Facebook to identify vulnerable people and make initial outreaches to people in need. The information is entered into a spreadsheet. Then we new volunteers go down the list to make calls and work with that person, looking for resources to meet their needs. We are provided with an easy script to help assess needs and a flow chart with reminders. If we are lucky, we’ll find the information on a second spreadsheet of resources listed by town. There is another list with more detailed mutual aid resources, and these are constantly updated.
Where no resources are listed, we are instructed by the experienced volunteer managers to look at social media for resources, or look for groups like churches, or to turn back to the senior volunteer managers.
One of the first disabled seniors I spoke with asked me to tell the volunteer who would be bringing her water that although her yard was fenced, she didn’t have a dog, and to please put the water on her porch. As an amputee, she couldn’t get out unless it was placed by the door.
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Another gentleman said he was the son of the woman I was trying to reach. He is 70 years old; his mom is in her 90s. He said they just had a bit of water—“enough for pills.” But they weren’t complaining. Almost no one did.
One woman asked me to be sure to “thank the organizers - it's a wonderful thing to have support like this!” Many echoed that.
The call that angered me the most was when I was trying to help a senior couple find food and water and I reached out to a local Salvation Army. I was told that the couple needed to provide proof of identity and residency to receive services.
Without a driver’s license or government ID, “We cannot help you,” I was told.
Screen shot of Salvation Army web site Screen shot 2/23/21, 7:32 pm
The Salvation Army web site says “Its mission is to preach the gospel of Jesus Christ and to meet human needs in His name without discrimination.” I must admit I find it curious that they need proof of identity and residency to fulfill that mission.
One very touching call was with a very elderly gentleman who is blind and was without food and almost out of water. He was so sweet and kept trying to reassure me that he would be fine. The caring folk at Hunger-Health Southeast Texas @hungerhealth took him some food and water.
Another elderly couple had only two bottles of water left and little food. I called Christen, at Austin Mutual Aid, who aided them and many others.
Almost uniformly, the seniors I spoke with were calm despite their dire straits and even when we couldn’t promise supplies, were grateful that anyone even called to check on them and provided brief companionship.
For several people in more urban areas, I was directed to submit a request for help to CrowdSource Rescue (@cs_rescue). This group emerged in 2017 in response to Hurricane Harvey. Co-founder Matthew Marchetti developed a mapping tool to match people in need with rescuers. The former listed details—as to whether there were small children or people with special needs—and their cell phone numbers. Volunteer dispatchers and rescuers could prioritize the most urgent needs. Since 2017, they have helped 92000 people in 25 incidents and now have over 13,500 rescuers and volunteers. As of 2/23 9 pm, they report having fed 17000 people during this Texas crisis, yet have 4200+ tickets still pending. The need is overwhelming.
Also emerging from the Hurricane Harvey response is Crowd Emergency Disaster Response Digital Corps. or CEDR Digital Corps (@CEDRdigital). President Melissa Swenson describes her group as “digital helpers during disasters. The all volunteer team is now a non-profit. Their team also uses crowdsourcing to look for information. Data mining yields resources for publicly available information—for example, fire departments, cities and counties distributing water in Texas. In addition to providing information on resources for the current crisis there, CEDR’s ongoing projects focus on the COVID-19 response in California and wildfires nationally (via #Firemappers hashtag and map). Swenson also kindly introduced me to another valuable resources, the CrowdSourcing Toolkit for Emergency Managers.
Public Health
One of the most concerning stories I heard about was in a small community where about 200 children have been without adequate water for nine days. Fortunately, they have a school district working hard to try to meet their needs. I have little doubt that situations like this will lead to outbreaks of infectious diseases, be it diarrhea, Covid-19, or measles. The questions are, will we hear about them and how will we respond?
In other areas, people gather in homeless shelters, with cramped quarters, putting people at risk of Covid and other infections.
Throughout Texas, California, Iowa, and many other areas that rely heavily on migrant workers, relief efforts are complicated by draconian immigration policies. Fear of separation from loved ones and deportation drive people underground, fueling contagious diseases.
Texas is also prominently at the intersection of anti-lockdown and anti-vaccination protestors and those opposing many types of government oversight. Being one of the “epicenters of the anti-vax movement” puts Texas at additional risk of worsening Covid.
The problems from the winter storm won’t go away for a very long time. More people will be forced into poverty and to living in substandard conditions. This will fuel the rise of insect-borne and other infectious diseases of poverty come summer.
While the local government response and Texas politicians seem to be MIA, mutual aid groups have stepped forward to fill the void. We have Ted Cruz running off to Cancun. After Hurricane Sandy, both Senators Cruz and John Cornyn opposed aid to NJ and NY, as did more than 20 members of the Texas congressional representatives. The Energy Grid failed in part because of the deregulation that Texas politicians have pushed over the years as well as ignoring infrastructure.
To be a “United States” suggests that we care for one another, and the mutual aid and outpouring of contributions from individuals supports that we do. But we also need a robust state and federal government response in times of disaster. Politicians should learn the concepts of caring and helping those in need.
On the introductory Zoom training, Beto assured volunteers that we would be helped in the process of volunteering and feel better. He was absolutely right about feeling useful being comforting. Yet it has been infuriating knowing that so much of the suffering is needless and due to the Texas government’s woefully inadequate response.
To volunteer with these mutual aid groups or help these groups financially, see: Powered by People, CrowdSource Rescue, and CEDR Digital Corps.
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34551abb1cc07acd9f1e32a3a119143b | https://www.forbes.com/sites/judystone/2021/03/31/how-counterfeit-covid-19-vaccines-and-vaccination-cards-endanger-us-all/?sh=6b04e0a53649 | How Counterfeit Covid-19 Vaccines And Vaccination Cards Endanger Us All | How Counterfeit Covid-19 Vaccines And Vaccination Cards Endanger Us All
UKRAINE - 2020/07/23: In this photo illustration, fake vials labelled 'Covid-19 vaccine' and a ... [+] syringe seen displayed. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images
The black market for Covid vaccines and proof of vaccination is growing rapidly as people tire of restrictions and are anxious to return to normalcy. It is also driven by the inequitable distribution of vaccines, leaving many low- and middle-income (LMIC) countries behind. Fight the Fakes (FTF) Alliance, an association trying to counter the proliferation of substandard and falsified medicines, nicely summarizes research in this area. They cite the Medical Product Quality Report – COVID-19 issue from The Medicine Quality Research Group, Centre of Tropical Medicine & Global Health, Nuffield Department of Medicine and the University of Oxford, which collects and analyses reports of fake medical products linked to COVID-19 from the public domain. One such report states the black market has grown more than 400% in just over the past year, much of it due to the Covid pandemic.
[Note: While “counterfeit” is commonly used, it is no longer the favored, or politically correct term. Instead “substandard” and “falsified” (SF) are the preferred terms.]
The magnitude of the problem is huge—10% of medicines are thought to be counterfeit. According to the WHO Global Surveillance and Monitoring System for Substandard and Falsified Medical Products, as of 2017, the types of falsified products, as a percentage of products reported are
Malaria 20%
Antibiotics 17
Anesthetics and painkillers 8.5
Lifestyle products (erectile, body-building, dieting) 8.5
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Cancer meds 7
Vaccines 2
Why is it hard to track fake or substandard medicines?
The manufacturing of medicines is often a global web, where the active pharmaceutical ingredients (API) may come from China, be manufactured in India, packaged in another country, and shipped by way of Dubai. It might then be repackaged and shipped to yet another country to take advantage of exchange rates.
These many steps and worldwide processing mean that there are many places for fraud to occur. Some recent examples include Mexico seizing vials of Sputnik V COVID-19 vaccine destined for Honduras that were fake. One site claimed a Kremlin source said that “the US and its allies” are plotting to “paint Sputnik V as ineffective and dangerous, including by ‘[causing] mass deaths, allegedly as a result of using’ the vaccine.”
In South Africa, fake Covid vaccines were reportedly manufactured in China and smuggled into the country. Jürgen Stock, the general secretary of Interpol (an international policing group), told Time magazine: “I’ve never seen such a dynamic situation before,” adding that the value is ‘in the billions.” Stock added, “The liquid gold in 2021 is the vaccine, and already we are seeing that they [vaccine supply chains] are targeted more and more.”
In the US, Homeland Security has seized more than $47 million in illegal covid-related products with 235 arrests last year. In February, three Baltimore men were arrested for creating a fraudulent Moderna website, modernatx.shop, to scam people. They offered advance purchase of vaccine at $30/dose, but never delivered any product.
Criminal networks
WHO suggests that organized criminal networks are now targeting the medicine and vaccine trade because it is relatively safe—profits are high, risk of successful prosecution are low, and there are small penalties.
Dr. Javier Guzman, Technical Director, MTaPS Program, Management Sciences for Health, spoke to me about the need for GS1 standards, which are a “global standardized system for traceability, from product manufacture to patient treatment.” “GAVI will make compulsory this GS1 compliance by the end of this year. That is nice…but there are a few issues. The first is that this is only for globally sourced supplies. This doesn’t include anything for locally manufactured supplies.” So, there are huge gaps in supply chain security for any drugs produced within a single country. Guzman emphasized in an interview that there is neither the regulatory structure nor the political will in many countries to pursue serious criminal penalties for counterfeit drugs. Guzman concluded, “Unless we have investment in systems at the local level, everything else is just Band-Aids.”
Ravi Sundaram, professor of computer science at Northeastern University, went further in an email interview. “The problem is worse than what Javier Guzman says – it is not restricted to malicious mafias and unwilling governments but there is passive connivance from big tech (search, social network, ads, e-commerce) in turning a blind eye to illegal sales so as not to restrict their own revenue spigot.”
Dangers of fake and substandard products
Many of the dangers are obvious—a person may become more ill or die because of receiving an ineffective medicine for their illness. Less obvious is that counterfeit antibiotics can promote antibiotic resistance and fuel the spread of drug resistant organisms throughout communities.
Fake vaccines—substituting plain salt water for a vaccine, for example—might not cause immediate harm, but may fuel distrust about vaccines’ effectiveness. People will falsely assume that they are protected and engage in risky behaviors.
It may also hurt global relations, as one country accuses another of sabotaging its vaccine in the public’s eye.
Protecting yourself
Department of Justice provides some commonsense recommendations—like consulting a licensed medical professional for treatment.
— Do not buy COVID-19 vaccines or treatments over the internet or through an online pharmacy.
— Ignore large, unsolicited offers for vaccinations and miracle treatments or cures.
— Don’t respond to text messages, emails or calls about vaccines and treatments.
— Be wary of ads for vaccines and treatments on social media.
There are growing numbers of scams out there and fake websites that mimic real ones quite accurately (like the Moderna case in Baltimore). Another in Massachusetts mimicked the state’s vaccine appointment website, appearing almost identical, but had dropped one letter, the ‘S,’ from immunizations. Such sites are used for identity theft.
Phishing through these sites is a growing business. Checkpoint Security researchers have found over 1200 ads for vaccines on the “darknet”—selling for up to $1000 per dose. Fake vaccine certificates are selling for $200 each. Each of these sites not only takes your money, but harvests keys to your identity which might later put you at risk.
UNITED STATES - MARCH 19: COVID-19 vaccination record card issued by the Centers for Disease Control ... [+] (Photo By Bill Clark/CQ-Roll Call, Inc via Getty Images) CQ-Roll Call, Inc via Getty Images
Fake vaccine cards and passports will likely become a new cottage industry. This is why people are urged not to share photos of their vaccination cards on social media.
Sharing vaccines equitably would also likely slow down counterfeiting drugs, which is particularly a pressure in the poorer countries that don’t have access to vaccines that wealthy nations do.
One of the problems with these scams is that they not only hurt individuals, but they hurt all of us. Until we get widespread vaccine uptake and herd immunity, we will not stop the spread of coronavirus, and mutant strains will proliferate.
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bd75539d0ff862278bdfab13784f7dc4 | https://www.forbes.com/sites/julesposner/2021/02/25/what-will-the-detroit-tigers-do-with-all-of-these-switch-hitters/ | What Will The Detroit Tigers Do With All Of These Switch Hitters? | What Will The Detroit Tigers Do With All Of These Switch Hitters?
Oakland Athletics Robbie Grossman follows through on an RBI single against the Houston Astros during ... [+] the sixth inning of the first baseball game of a doubleheader in Oakland, Calif., Tuesday, Sept. 8, 2020. (AP Photo/Jed Jacobsohn) ASSOCIATED PRESS
The Detroit Tigers will likely head into the 2021 season with five potential regulars who are switch hitters. This is the most of any team in the league. It will be interesting to see how new manager A.J. Hinch utilizes his arsenal of switch hitters because the way the Tigers have utilized them in the past was a lot like how a kid would run a Diamond Dynasty team in MLB The Show.
On paper, compiling as many switch hitters as possible seems to be a good way to match up-proof your line up. No matter what hand the pitcher throws with, your hitter can jump to the other side of the plate and have the advantage. Genius.
Al Avila seems to covet switch hitters. He acquired both Willi Castro and Jeimer Candelario via trade. He took a flyer on Niko Goodrum when signing him to a minor league contract and the first “big” free agent signing he made this offseason was signing Robbie Grossman to the first multi year deal the Tigers have given out since the 2015-2016 offseason.
That may be because Avila believes that switch hitters make lineups match-up-proof. Or at the very least he believes a switch hitter is a guy you can plug in every day and will have some perceived advantage. His old manager Ron Gardenhire was more than happy to oblige. The logic being “if these guys pan out; we can plug them in every day!”
Unfortunately, the Detroit Tigers are not a video game and switch hitters are not match up proof. However, the Tigers did plug them into the lineup every day.
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You can see from the table above all five of the Tigers switch hitters’ splits over the last two seasons. Despite Willi Castro’s small sample and Victor Reyes fairly equal, but still below average numbers, all of these hitters do have clear splits. Some are more glaring than others.
The two most obvious cases for a platoon are Niko Goodrum and new Tiger Robbie Grossman. Goodrum has struggled over the past two seasons versus right handed pitching and with the sudden glut of competition around the infield, his role as a utility man and a spot starter versus left handed pitching has never been more clear.
The argument could be made that Goodrum had to play out of necessity because of injuries, which is fair. The numbers also bear that out.
Unfortunately, that also speaks to the Tigers’ lack of creativity with platoons and also their inability to sign complimentary personnel. Perhaps platoons were not utilized because anything that could potentially derail the Tigers’ pursuit of high draft picks was off the table. So instead of finding platoon-mates, the Tigers let Goodrum take his 507 at-bats against righties and killed his overall numbers.
Similarly, Robbie Grossman -who was on a considerably more talented and better run team- also found himself in the line up every day by virtue of health and he was the inverse of Niko Goodrum at the plate. Grossman was incredibly effective against righties, but struggled against lefties.
With A.J. Hinch at the helm, the Tigers will hopefully look at more platoons over plugging switch hitters into the lineup as some sort of catch all. Despite both being switch hitters, Niko Goodrum and Robbie Grossman actually make perfect platoon mates in left field.
Jeimer Candelario and Willi Castro are two interesting cases. Since Willi Castro has such a small sample to pull from and his 2020 numbers were impressive, but unsustainable, he may be safe from a platoon in the short term if he can win the everyday shortstop gig.
If 2020 Jeimer Candelario shows up, he could be penciled in to play every day. However, he still had distinct splits in 2020 despite his excellent overall season. In 2020 Candelario slashed .269/.346/.462 for a 119 wRC+ versus righties and slashed .400/.455/.650 for a 200 wRC+ versus lefties. These are solid numbers, but his overall numbers from the table above are weighed down by his 2019 season.
Then there’s Victor Reyes who has relatively even splits, but over the past two seasons he has posted slightly below average offensive production from both sides. Perfect for a back up outfielder.
The Detroit Tigers are rich in switch hitters, but it is clear that the perceived advantages of having a switch hitter are not always advantageous. It is worse if you are forced to start a hitter every day that has clear splits just because of that perceived advantage. With a more progressive manager writing the daily lineups, it will be interesting to see how A.J. Hinch utilizes platoons to optimize the Tigers offense this coming season.
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13df5775f515f76c345334d2fcf941a3 | https://www.forbes.com/sites/julesposner/2021/03/01/christian-arroyo-looking-to-finally-break-out-for-the-boston-red-sox/ | Christian Arroyo Looking To Finally Break Out For The Boston Red Sox | Christian Arroyo Looking To Finally Break Out For The Boston Red Sox
Boston Red Sox's Christian Arroyo grounds out during the third inning of a baseball game against the ... [+] Miami Marlins, Tuesday, Sept. 15, 2020, in Miami. (AP Photo/Lynne Sladky) ASSOCIATED PRESS
After being selected by the San Francisco Giants in the first round (25th pick) of the 2013 draft, lofty expectations fell on Christian Arroyo’s shoulders. By default, he became the Giants’ top positional prospect leading a relatively thin group of players.
Having seen Buster Posey, Joe Panik, Brandon Belt, Matt Duffy, and Brandon Crawford all blossom into everyday contributors that helped the Giants win three World Series in five seasons, many believed that Arroyo was destined to find a place in the Giants’ infield.
After the Giants traded Matt Duffy to the Tampa Bay Rays for Matt Moore during their 2016 playoff push, a clear path to the infield for Arroyo emerged.
In 2017 he got his shot, but at just 22 years old Arroyo was not ready. Then in a surprising move the Giants traded Arroyo to the Tampa Bay Rays as part of a package for Evan Longoria ahead of the 2018 season. This was probably a worst case scenario for the young infielder.
The Rays had a glut of infield prospects and injuries would also slow Arroyo’s development in 2018 and in 2019. After being traded again to the Indians along with Hunter Wood in 2019, Arroyo would eventually be Designated For Assignment a little over a year later.
The Boston Red Sox claimed the infielder, but that wasn’t the end. Arroyo was actually DFA’d by the Red Sox as well after a lengthy stay on the Injured List. He subsequently cleared waivers and was outrighted to the Red Sox alternate training site.
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During his time in San Francisco, Tampa Bay and Cleveland. Arroyo maintained a relatively consistent set of mechanics. The only major observable adjustment he made was ditching a relatively pronounced leg kick for a toe tap load at some point when he was in the Rays organization.
It was at the Red Sox alternate training site where Christian Arroyo began to rethink his swing. Arroyo discusses some changes he was focusing on with Tim Hyers and Peter Faste the Red Sox hitting coaches during a NESN interview.
“For me- I get good hip rotation. That’s never really been an issue of mine. But the only backside or backlash you get from that is kind of getting really ‘spinny’ off the ball and I’ve had a tendency to do that. So for me it’s really working on a lot of direction.”
The video below shows some subtle differences in his set up as well. You can see he stands a little more upright and as he gets into his set up. Also, he briefly holds the bat vertically before eventually moving it towards his back shoulder.
Typically Arroyo would set his hands slightly higher (in some cases considerably higher) and rest the bat flat over his back shoulder. Then he would proceed to lift the bat and wave it around as the pitcher prepared to throw.
While not a huge difference, it seems possible that in order to keep a focus on working more directionally through the swing, the vertical bat served as some sort of internal cue for Arroyo. Often hitters will hold the bat more vertically to avoid entering the hitting zone with a flatter path. When Arroyo got called up on September 8th he went on to have an incredible week.
Arroyo slashed .303/.343/.606 and posted a 150 wRC+ his first week on the Red Sox and he also hit the first opposite field home run of his career. Then Arroyo would exit the September 19th game with back spasms and would only record two more hits over the remainder of the season.
Even with the slump that followed his injury, Arroyo went on to post some of the best peripheral and standard numbers of his career. Arroyo either posted the best or second best numbers in home runs, .ISO, SLG, OPS, wRC+, BB%, K%, FB%, wOBA, Avg EV, Avg LA and HH%.
Granted, this is a small sample based on a career of small samples. Projection systems have Arroyo at 0.5 to 0.9 fWAR and 89 to 92 wRC+ this season. However, projection systems do not factor in swing changes.
The differences in Arroyo’s set up will influence his moves to the ball as he continues to refine his mechanics. His focus on working directionally as opposed to rotationally, will take some time and consistency. Going through the video of his at bats last season, there was a high level of variance in where he set the bat and his hands pre pitch.
By repositioning his hands and setting up in a more balanced position, he’s allowing himself to move on a line through the pitch instead of rotating on a more transverse plane and losing depth in his swing. However, he needs to find a consistent starting point and position in his set up.
Cleaner, more efficient mechanics seem to have helped Arroyo get on plane, add depth to his swing and get the ball in the air more consistently. Having J.D. Martinez- another late bloomer and pitch plane aficionado- on the bench along with hitting coaches that oversaw Mookie Betts’ transformation into an all world hitter only strengthens the case for Arroyo having break out potential.
Although Kike Hernandez was signed to play second base every day, his versatility may be a detriment if Arroyo can force his way into the line up with a strong spring. Furthermore, Arroyo’s reverse splits in 2020 put him in an advantageous position to get starts at second base if he continues to hit righties and Hernandez continues to only excel against lefties.
The Boston Red Sox knew that they might have found a solid reclamation candidate when they claimed Christian Arroyo off waivers. If Arroyo can find some comfort and consistency in his mechanics it is possible he could become the solid regular many people thought he might become when he was drafted in the first round nearly eight years ago.
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705df3217e814bede98b8d2a02aa2a65 | https://www.forbes.com/sites/julesposner/2021/03/05/detroit-tigers-hope-to-unlock-nomar-mazaras-potential-but-how/ | Detroit Tigers Hope To Unlock Nomar Mazara’s Potential. But How? | Detroit Tigers Hope To Unlock Nomar Mazara’s Potential. But How?
Chicago White Sox's Nomar Mazara hits a two-run double against the Detroit Tigers during the third ... [+] inning of a baseball game, Saturday, Sept.12, 2020, in Chicago. (AP Photo/David Banks) ASSOCIATED PRESS
Nomar Mazara is one of the most tantalizing bats on the Detroit Tigers. He is an ideal physical profile, he is capable of high end exit velocities and he can launch baseballs 505 feet. The upside is there, but Mazara has struggled to tap into his potential consistently.
As noted by Chris McCoskey of the Detroit News and Jay Jaffe of Fangraphs, Mazara is capable of hitting the ball hard consistently. Unfortunately- and 2020 was the best or worst example of this- Mazara struggled to get the ball in the air.
While it’s easy to look at Mazara’s ground ball rate, it does not answer the question why he hits the ball on the ground so much. Furthermore, the idea of getting Mazara “on plane” is broadly what needs to happen in order to help him elevate the ball and his game. But how, is the larger question.
This problem is multifaceted. A dive into Mazara’s 2020 numbers show that Mazara posted his second lowest average launch angle and second highest GB% of his career.
The other significant statistic to note is that Mazara has hit the ball to the opposite field more over the past two seasons than he has at any point in his career. In 2019 and 2020 he posted a 32.1 and 35.9 oppo% respectively. This is almost a 6% differential from his next highest oppo% in his 2016 rookie campaign.
Additionally, Nomar Mazara has seen a considerable increase in shifts when he hits. In 2018 he faced the shift in 29.3% of his at bats. That increased to 41.8% in 2019 and 55% in 2020. This is also a factor in Mazara’s drop in offensive production.
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Mazara’s issue seems to stem from both a swing issue and an approach issue. Despite the small sample, in 2020 pitchers threw to the outer third of the plate against Mazara roughly 47% of the time. One mistake the numbers seem to reflect, is that Mazara has focused more energy into beating the shift instead of trying to hit over it.
That gets compounded by the fact that Mazara is more of a rotational hitter with a flatter swing path. Mazara is a strong guy with excellent bat speed. This explains why he’s able to achieve high end exit velocities when he makes contact-especially to the opposite field. However, his flatter bat path and rotational movement causes him to either wrap his barrel around outside pitches and hit them on the ground pull side, or he has to perfectly time everything in order to hit the ball to the opposite field with something that may resemble optimal contact.
Over his career, Mazara has hit 18 home runs on pitches in attack zones 1, 4, 7 and 11. Of those 18, he has hit seven to left field and two of those were fly balls into the Crawford Boxes at Minute Maid Park against the Houston Astros. None of those home runs came against fastballs over 91.8 mph.
When you take all of this data it seems that Mazara’s power to the opposite field is more a product of factors like his raw power and bat speed coalescing perfectly with the arrival of the pitch than a swing that is designed to drive the ball that way.
Since Nomar Mazara still tends to swing on a flatter, more transverse plane, he has difficulty hitting through multiple contact points and truly driving the ball with loft to the opposite field. The video from the tweet above demonstrates that tendency.
Hitting coach Scott Coolbaugh hopes to tap into Mazara’s monster potential. In order to right the ship, look for Mazara to hunt for pitches to pull more frequently in an attempt to try to hit over shift instead of attempting to beat it. Mazara also has to be able to work more directionally through outside pitches in order to drive them, as opposed to just running into them. Working more directionally should also improve his vertical bat angle, especially on pitches on the outer third of the plate.
The Detroit Tigers only have Nomar Mazara on a one year deal, but if they find a way to get him swinging the bat the way people believe he can, it would signal a new chapter in the Tigers’ rebuild. The Tigers have struggled to make their reclamation projects work in recent years, but with a new coaching staff, perhaps a new day has dawned in Detroit.
All data and video provided by Baseball Savant and Fangraphs.
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bd143ce1553227aeed8fcbc35df13709 | https://www.forbes.com/sites/julesschroeder/2016/03/14/5-ways-to-profit-from-growing-your-personal-network/ | 5 Ways To Profit From Growing Your Personal Network | 5 Ways To Profit From Growing Your Personal Network
Over the last five years, my Dad has watched me attend one conference after another. New York, Los Angeles, San Francisco, Costa Rica, Mexico, Chicago, and Philadelphia, just to name a few. I have spent thousands of dollars on travel, event tickets, and important dinners to meet with and learn from influential industry leaders. And no matter how excited I am about what I learned, or who I met, my Dad always asks me the same question: “How is that going to translate into cash?”
Every time he says it, I could almost shake him. How does he not get it? How does he not see the value of these relationships? Even though it seems obvious to me, I know my Dad is not alone in his thinking. Historically, the path to cash has been very linear. Each person or relationship is seen like a transaction, serving a very distinct and clear purpose. Today, however, we are living in a relationship economy.
Ted Rubin, an industry leader in social marketing strategy and brand evangelism, calls this currency “Return On Relationship” (ROR). “ROR is the value that is accrued by a person or brand due to nurturing a relationship, whereas ROI is simple dollars and cents. ROR is the value (both perceived and real) that will accrue over time through loyalty, recommendations and sharing.”
Growing and building a network of relationships is essential, which is why Network Under 40’s founder, Darrah Brustein, has built a lifestyle and company out of connecting people.
I recently caught up with Darrah on this week’s podcast episode where she shares how to turn connections into cash.
Darrah says, “I can track most things that have happened in my life — both personally and professionally — back to a relationship I’ve had with someone. Once I met a man at a networking event and he asked to interview me on his podcast about my kids books. Several months later, he randomly wrote about Network Under 40 in Inc. Magazine which generated global interest that facilitated our expansion. You never know how you can help someone, as well as the power of their connections and influence.”
Darrah is on a mission to redefine the way people think about the word “networking.” In her opinion, “networking has become synonymous with selfishness, when at its root, I believe it’s about selflessness.”
To thrive in this relationship economy you have to be willing to give more value upfront than you are trying to receive. That is why the best time to cultivate relationships is when you have nothing to take--only something to offer--so that when your time comes to ask, you don’t appear self-serving. Some of the best business returns end up being the most random and you never know which connections will cash in at which time.
Source: unsplash.com
Want to know how to get rich from your network? Follow these 5 principles to abide by:
People are Human Beings. Look at each person beyond their perceived transactional value. See them for who they are, the interests they have, the types of things they like and speak to that. Ask them about their kids, where they want to travel, or a favorite movie they saw recently, get personal! Be Authentic. Cultivate relationships with those with whom you naturally connect — with no self-serving agenda. Don’t be afraid to be yourself, you will find people want to help you more when they get to know the real you. Figure Out How To Add Value. The more value you can add the higher your social currency becomes. Listen to what people need and help be the one to connect the dots for them. Every person is missing a “piece” to their puzzle, figure out the piece and when you need something you won’t be forgotten. Keep In Touch. Always send a LinkedIn invitation with a personalized note after you’ve met someone or an email. This is a simple way to keep track of their latest job updates, birthday and other important things they might share. You can also add them on Facebook or social media so when they post something you can easily “like” it and remain a presence in their life. Get Clear On Your Goals. When you are clear on what you need or the “pieces” you are looking for people can know how to contribute to you. Without having this clarity most people will not know how to help you. You will be surprised by how many people are willing and are just looking to you for the next step.
If you want to win a free copy of Darrah’s book “Finance Whiz Kids” subscribe to the podcast here then enter to win by following this link. Darrah has made this offer exclusively to Unconventional Life readers and listeners.
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e4c896554dd701644e0aacd476d5259d | https://www.forbes.com/sites/julesschroeder/2016/12/15/a-28-year-old-hollywood-composer-shares-3-ways-to-optimize-creativity-under-pressure/ | A 28-Year-Old Hollywood Composer Shares 3 Ways To Optimize Creativity Under Pressure | A 28-Year-Old Hollywood Composer Shares 3 Ways To Optimize Creativity Under Pressure
It’s like trying to extract water from a hose riddled with kinks. It just doesn’t work. Yet it’s the logic many of us rely on almost everyday.
I’m talking about creativity—and the alarming misunderstanding of its nature.
According to scientists, creativity is a spontaneous process. In other words, you can’t will it to happen with force.
But we live in a culture that expect us to do just that. We’re required to perform under tremendous pressure, catering to rigid deadlines and impatient bosses.
It’s no surprise 75% of people worldwide believe they’re not living up to their creative potential.
Though optimizing creativity in the real world can be challenging, it’s not impossible.
One talented young composer has learned to harness his creative genius for the around-the-clock demands of Hollywood. He swears by 3 key practices that help him tap the well of creativity when it really counts.
Meet Leo Birenberg, a Chicago-raised 28-year-old music prodigy behind some of this generation’s most memorable film soundtracks. Think Disney’s Frozen, Comedy Central’s Big Time in Hollywood, FL and Fox’s Son of Zorn.
Source: Leo Birenberg
Birenberg frequently works on important projects where his creativity is put to the test. He knows how to whip up Beethoven-esque tracks in a mere two weeks.
This week on The Unconventional Life Podcast, Birenberg shares his secrets to optimizing creativity.
Growing up in Chicago, Birenberg discovered a love for music early on that was fueled by his school’s outstanding music program. “My senior year I was taking like two choirs, two jazz bands, a musical… I can’t tell you how excited I was about jazz band. No one was more excited, ever,” Birenberg says.
Post-high school, Birenberg enrolled in NYU as a music major. His randomly assigned freshman roommate was a film major. Together, the two began experimenting with music and film—and like fate, Birenberg uncovered his true skill for composing film soundtracks.
Birenberg was able to leverage his NYU network to begin working on major film projects, his first big break an up-and-coming show on Comedy Central. Since then, he’s earned the right to work on Hollywood hits like Frozen, The Muppets: Most Wanted, and The Hangover: Part III.
Today, Birenberg is one of the youngest and most sought-after film composers.
One of Birenberg’s greatest challenges with working in the film industry is the unpredictable and often short-notice deadlines he’s forced to work with.
“The soundtracks are always the last thing to go into a film,” he says. “There’s the constant feeling of being on your toes and needing to pivot at any time.”
In order to create top-quality work within these constraints, Birenberg has developed three practices to optimize his creativity so it’s available and effective when he needs it.
Below, Birenberg shares these three practices you can apply to your own life to power up your creativity:
1. Mix things up. Birenberg says he rarely listens to music of the same style he composes. “It’s like a snake eating its own tail,” he jokes. He’s speaking to the fact that it can be challenging to create original material when you’re constantly immersed in what’s already been done. You tend to fall into the trap of comparisons and creating derivatives of others’ work rather than innovating your own. Instead, switch up the content you consume to freshen up your head space and spark new ideas.
2. Replenish your creative well. “You can’t recharge on the thing that you do for work,” Birenberg says. In other words, your down time should feel like down time. If you’re a writer, do something other than writing when you’re not tapped in. This could look like spending time in nature, getting some exercise, or nurturing a favorite hobby. The key is to dedicate intentional time to something that fuels you to allow your creative resources to fully recharge.
3. Organize your time around periods of heightened creativity. Are you most creative when you first wake up, or do your creative juices flow best after everyone else has gone to bed? Hone into your creative window and structure your day so you can work when your creativity is most active. Commit to working on creative projects during this time, and keep busy with other tasks outside of this window. “Be sure to give yourself ample time when you’re doing creative work because if there’s a deadline or pressure you’ll hate it,” Birenberg says.
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3b9e6134dacb99d0084fdafe08873b57 | https://www.forbes.com/sites/julesschroeder/2017/05/25/a-near-death-survivors-advice-on-knowing-what-you-should-do-with-your-life/ | A Near-Death Survivor's Advice On Knowing What You Should Do With Your Life | A Near-Death Survivor's Advice On Knowing What You Should Do With Your Life
I remember re-entering my body and finding myself in a hospital with a stiff and overbearing neck brace. I had just spoken to a “council” of six shadow figures, who told me I had more work to do in the world and asked me if I wanted to do it. I said yes, and was returned back to earth.
Hours earlier, I had been wakeboarding and hit a near-fatal wave that sent me to the hospital unconscious. What transpired when I was unconscious would dramatically shape the course of my life.
I experienced what scientists refer to as a “Near-Death Experience,” in which thousands of case studies report sensations of leaving their bodies, spending time in an otherworldly realm, meeting spiritual beings, and feeling a sense of connectedness to all things.
After my NDE, my sense of what mattered most in life was turned upside down. I used to wake up most mornings with a nagging sense that there was more I was meant to be doing with my life, without having any idea of how to do it.
Maybe you can relate to this nagging feeling or are like the 50% of other Millennials that want more direction in their lives.
While most of us will never experience an NDE—statistically they affect just 5% of the population—we can all gain value and perspective from those who live to tell about one. If you’re unsure about what you want to do with your life, NDE survivors can help shed light on what might be the right next step for you.
Meet Cherie Aimée, a fellow “NDEr” whose story is a well-known medical miracle to the world’s leading cardiothoracic surgeons. After dying in her husband’s arms, she sustained no heart beat for 90 minutes. Since then, she’s been interviewed by major news and TV networks, is a #1 bestselling author and an international motivational speaker, and has built a six figure company around living life with no regrets: Live Big Be Happy.
Source: Cherie Aimée Cherie Aimée
This week on the Unconventional Life Podcast, I spoke with Aimée about her NDE and the lessons she learned from it.
Aimée’s story is particularly remarkable because of the resilience she demonstrated in the face of her circumstances. After receiving a bionic heart transplant and enduring a 3-month coma, Aimée went on to build a 6-figure brand.
“When I started my brand, I was in a wheelchair,” Aimée recounts. “I was thinking to myself, ‘how am I going to hold up to other experts in the field when I am here feeling broken?’”
In spite of her limitations, Aimée did everything in her power to share her story and spread a message of compassion, love, and hope. “I built my whole brand from my iPhone,” she says.
Below, Aimée shares three tips to help you find direction and meaning in your life.
Make A Commitment To Fall In Love With Yourself
First and foremost, Aimée says the foundation of a successful life is loving yourself. However, this isn’t necessarily an easy feat. Our culture values certain aspects of self and condemns others—it’s easy to love the aspects of yourself that get external approval, like being disciplined, courageous, compassionate, and assertive. But loving aspects like your laziness, your tendency to blame and resent, your anger, and your cowardice can be challenging.
The sense of stability and fearlessness you gain from loving all of yourself is worth the fight. “Make a commitment to fall in love with yourself, the way you did before you allowed all these rules and limitations to limit your greatness,” says Aimée. Say to yourself, I’m going to commit to do the work—whatever it’s going to take so I can fall in love with myself—because I have a big mission and it is my responsibility to shine my light in the unique way that I was born for.”
Journal Everyday
One practice to help you love yourself is to journal every day. Don’t worry about a time limit, or a length prescription. Write whatever comes to your mind. “Write your thoughts, as scary as they are. It’s a process of getting it out, and getting it out starts the process of healing,” Aimée says.
Studies by the University of Rochester found that keeping a journal helps you manage anxiety, reduce stress, and establish order when your world feels chaotic. Those who write their goals down in a journal are 42% more likely to accomplish them. Use your journal to help you let go of self-judgment, access clarity, and take action upon your deepest innermost yearnings.
Drop The Excuses
How many times have you waited for the “perfect” circumstances to arrive in order to feel “ready” to take action, only to have those circumstances never present themselves? Procrastination is a trap that 95% of the population falls prey to, and it keeps us from showing up on time—or at all—to life’s opportunities. Aimée says finding herself bedridden with a bionic heart was what it took for her to get confronted about her abundant excuses and to take rigorous action in the face of them. “After my heart transplant, I wrote my #1 bestselling book with one finger typing on my iPhone propped up on a pillow,” Aimée says.
If you have a calling in your heart to do something, don’t put it off or justify inaction with excuses. Be resourceful, and instead focus on what you can do to make that dream possible—even if it requires asking for help or taking action in nonideal conditions.
“Here’s how to access resourcefulness,” Aimée says. “Find a vision that is bigger than you. Because when we’re stuck on us, looking at our problems and our limitations, all I would see is this broken body in a wheelchair—who am I to be writing a book for somebody else?”
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941864a969fbb143746e299d198c67c8 | https://www.forbes.com/sites/juliabrenner/2020/02/18/gucci-opens-chicago-pop-up-store-and-celebrates-new-gucci-changemakers-program/ | Gucci Opens Chicago Pop-Up Store And Celebrates New Gucci Changemakers Program | Gucci Opens Chicago Pop-Up Store And Celebrates New Gucci Changemakers Program
The Gucci pop-up is located in Chicago's West Loop. Pablo Enriquez
Chicago, Ill. — Luxury brand Gucci is bringing a splash of 70’s-era glam to the shuttered South Central Bank in Chicago’s West Loop neighborhood, transforming the vacant space into a disco-inspired GG Psychedelic Pin pop-up experience.
Located in a shuttered bank, the Gucci Pin pop-up is designed as an immersive “dreamscape" that ... [+] blends luxury retail with nightclub vibes. Pablo Enriquez
Located at 160 N. Morgan St., the Chicago pop-up is the third iteration in Gucci’s “Pin” pop-up series, which the brand first launched at Denver’s Cherry Creek Shopping Center last November. The conceptual Pin pop-ups are inspired by interactive pins found on digital maps (each Gucci Pin pop-up location includes a customized Gucci pin that appears on Google Maps).
The Chicago GG Psychedelic Pin Pop Up runs through March 2, 2020. Pablo Enriquez
The 2,600-square-foot luxury pop-up store will run through March 2, 2020 and includes jewelry, accessories, shoes, and ready-to-wear from the brand’s Psychedelic collection, featuring the classic GG design newly remixed by Gucci Creative Director Alessandro Michele.
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The Chicago pop-up features items with the iconic GG logo remixed by Gucci Creative Director ... [+] Alessandro Michele. Courtesy of Gucci.
However, the Chicago iteration of the Gucci pop-up series includes more than luxury goods, as the launch party also celebrated the brand’s Chicago-based community connections, recently forged through the Gucci Changemakers North America Initiative.
Under the leadership of Renée Tirado, Global Head of Diversity, Inclusion and Equality at Gucci, the Changemakers initiative was formed to increase inclusion and diversity within the fashion industry and across communities. The Gucci North America Changemakers Impact Fund recently awarded its first round of grants to 16 grantees (chosen from a pool of 145 applicants). Two Chicago-based organizations—Braven and Afterschool Matters received grants of up to $50,000 each for a one-year funding cycle. The grants will be used to help recipients create new programming or to expand existing initiatives.
Gucci and celebrity guests celebrate Chicago non-profits, After School Matters and Braven, at the ... [+] Chicago GG Psychedelic Pin launch party. BFA
We have always believed in the importance of creating a more inclusive and diverse industry, so we must invest in and empower the next generation of creatives, designers and leaders. Marco Bizzarri, President and CEO, Gucci
According to a press statement, the first round of grantees were chosen for their focus on “improving opportunity and access for diverse people across a number of social impact initiatives, including leadership development in venture capital and technology entrepreneurship, fashion programs for underserved youth, and criminal justice reform.”
Launch party guest, Kiki Layne, with Gucci CEO Marco Bizzarri. BFA
In a gesture of brand community building, Gucci invited staff and youth from After School Matters and Braven to the Chicago GG Psychedelic Pin launch party to celebrate their recent award alongside a roster of notable guests. The Gucci team was enthusiastic for the event to showcase the work of grant recipients in service of Chicago-area youth.
About Changemakers
Gucci collaborated with filmmaker and DRØME Creative Director Satchel Lee on the following short film about Changemakers. The film is narrated by Changemakers Council Co-Chair, Cleo Wade.
Change does not happen in theory, it happens in community. We are bringing the Gucci Changemakers initiative to life by bringing not only funds, but also time, energy, and care to communities that have been historically and systemically under resourced and overlooked for too long. Cleo Wade
For more information about the Gucci Changemakers, visit www.changemakersus.gucci.com For pop-up hours and directions, visit GG Psychedelic Pin - Chicago. The pop-up exterior was painted by Colossal Media.
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979f672779a197784ff73f2c1a19add1 | https://www.forbes.com/sites/juliabricklin/2013/01/25/walgreens-ads-tough-to-stomach/ | Walgreens Ads Tough To Stomach | Walgreens Ads Tough To Stomach
A bicyclist rides by a Walgreens store on June 19, 2012 in San Francisco, California. (Image credit:... [+] Getty Images via @daylife)
It sucks having the flu. I got off easy. My friends have all been rotating through urgent care centers and their kids have been out of school for weeks. My family got dinged with only mild sore throats and nasal funk. I'm grateful that I have health care, and a nice warm bed that I'm sharing with John Corbett.
That's right, John Corbett, from 'My Big, Fat, Greek Wedding,' Northern Exposure and Sex And The City and Bo Derek's long-term beau. You see, Walgreens has blitzkrieged daytime television with its 'Down On the Corner' commercial spots, which feature John Fogerty's iconic song re-recorded to Corbett's saccharine script.
To be fair, they're not Corbett's words, but that of advertising agency GSD&M, based in Austin and part of the Omnicom Group. Back in September, the agency's spokeswoman wrote about the campaign in response to a query from New York Times' advertising columnist, Stuart Elliott:
The campaign is called yesterday and tomorrow, and it highlights the retailer's strengths and accessibility by focusing on Walgreens' long history of innovations that have helped make customers happy and healthy.
They're feel-good spots. The one I've seen 10,000 times already today features seemingly bewildered parents, schlepping two adorable, identical twins around. Thankfully, the nice folks at Walgreens are able to show them how to refill prescriptions just by taking a picture of the old bottle on the phone, and messaging it over. Pandering, but good.
Except, it brought me right back to the bum rush I had when a little show called CSI: Crime Scene Investigation aired in 2000, and 'Who Are You' blasted its way into my living room. I got over that quickly, because the song had already been used for a Gateway computers spot the year prior. Once you sell out, you sell out. Same goes for Iggy Pop and Royal Carribean, Aerosmith and Buick, the Clash for Jaguar. I wanted to call Nancy Wilson when Swiffer came out with their 'What About Love' spots a couple years ago and say, 'What the hell were you thinking?' (I still love you Nancy.)
It's no secret why companies use classic rock to promote their goods. They're highly recognizable, period. There's psychology that says we are 'imprinted' with songs of our youth, and therefore feel some identity with some of the images at which we're looking. It's why some companies have turned to the less-expensive route of creating their own 'soundalikes' music that is just one degree shy of someone else's original work, but that's going to get tougher to do, thanks to the efforts of bands like the Black Keys.
I don't know anybody who bought a Buick because they got lucky in the back seat to 'Dream On,' but then again, both the song and the car would resonate with an older demographic than one to which I currently belong. Clearly, it works, or companies wouldn't spend millions licensing the songs.
There are some classic rock/product combinations that were meant for each other. Chevy trucks co-opted Bob Seger's 'Like A Rock' for more than a decade. The automaker used Seger's refrain sparingly - it never came across as 'look what song we got,' and it worked. When I hear 'Like A Rock' on the radio, I still think of immortal youth. When I heard the tune on television, I thought of hardworking people in Detroit, building tough trucks that could take a lot of knocks. The commercial didn't bastardize the song for all eternity. And Volkswagen? Spectacular job making 'Mr. Roboto' transcend the ages. As one anonymous writer for a syndicated content site put it, these combinations make classic rock seem less like a sell out and 'more like an opportunity to introduce the music of the past to the consumers of the future.'
Here's the thing with Walgreens and its version of 'Down On The Corner,' besides the fact that I can't wipe it from my brain. If you're old enough to remember when Creedence Clearwater Revival was pumping out hit after hit in the late sixties and early seventies, you're old enough to remember the nasty, bitter divorce and remarriage (and divorce and remarriage) of John Fogerty and Fantasy Records. Without getting into the details of that decades long feud, Fogerty and Fantasy finally called a truce of sorts about seven years ago.
But that doesn't mean he likes it, or has the same control over his works as The Who and Aerosmith. I don't know how Mr. Fogerty feels about this Walgreens ad, but I'm betting it's similar to how he felt about Wrangler Jeans' use of 'Fortunate Son' back in 2002: 'It makes me angry . . . when you use a song for a TV commercial, it trivializes the meaning of the song. It almost turns into nothing.' True, 'Fortunate Son's lyrical meaning and commercial use were about as far apart as a song and a corporate message could be, while 'Down on the Corner' and Walgreens' might be more in line with everyday Americanism.
When a corporation appropriates a classic rock song for commercial use, it's hard enough to tolerate the image of artists collecting a fat check to have their angst slapped on a Gateway computer, but it's tolerable because we already expect the artist to sell out to a certain extent. At least they have the right to do so. But it's hard to embrace a campaign that uses a song in a way that might be the anathema of the creator's original intent.
I will ponder this after another swig of cold syrup - which I may or may not have purchased at Walgreens.
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1856c762d2b6be0d5161ae662796ec24 | https://www.forbes.com/sites/juliabrodsky/2021/02/26/how-indigenous-groups-raise-youth-who-are-passionate-about-math/ | How Indigenous Groups Raise Youth Who Are Passionate About Math | How Indigenous Groups Raise Youth Who Are Passionate About Math
Irvilinda Bahe, a math major at Colorado State University and a former AIMC student, comes back to ... [+] the AIMC math camp as a junior mentor. Alliance of Indigenous Math Circles
Every summer, something wondrous happens in the remote areas of Arizona, Utah, New Mexico, and Oklahoma. Families travel for hours to join a week-long gathering celebrating math, friendship, and Indigenous culture. They look forward to a math camp organized by the Alliance of the Indigenous Math Circles (AIMC), supported by a dedicated team of regional coordinators — Indigenous teachers from local schools. The program, which has been in operation for more than eight years, grew out of the Navajo Nation Math Circles. The Alliance arranges mathematicians' visits to schools, runs math teachers' workshops, and hosts informal math gatherings known as math circles, helping to raise a new generation of Indigenous mathematicians, researchers, and STEM professionals.
“Mathematics is the birthright of every human. It brings joy and deep satisfaction, like music and poetry. Unfortunately, regular school math rarely provides an authentic experience of mathematics,” says David Austin, of the Choctaw Nation of Oklahoma, professor of mathematics at Grand Valley State University, Michigan, and one of the Alliance directors. AIMC math camps and events bring the community together, providing every participant with a holistic, immersive cultural experience of joyful and mindful math exploration. They help students to forge mathematical camaraderie with their peers, nurturing their identities as Indigenous researchers. “Math feels magical,” one teacher recalls overhearing a Hopi student say to a friend after class, “and we can create it together.”
Besides the American Indian Science and Engineering Society (AISES), the AIMC gets guidance and support from the elders of many tribes and nations, such as the Navajo, Hopi, Chickasaw, Choctaw, and others. Former AIMC students attending STEM programs at tribal colleges or universities such as Arizona State and Stanford come back year after year to serve as mentors and role models.
The math camp breaks the rural students’ isolation from the global scientific community, introducing children to enthusiastic researchers from various backgrounds who are eager to share their passion. Some of the largest professional mathematical organizations in the country, the AMS (American Mathematical Society) and the MAA (Mathematical Association of America), send volunteers to support the project. Students and scientists eat, work and spend their spare time together.
The mathematicians, who serve as facilitators and guides, introduce students to rigorous problems that require deep mathematical thinking and mental flexibility, rather than knowledge of specific methods. Such an approach allows children of different ages to appreciate each other’s input and collaborate productively. In contrast with regular schoolwork, where students are often expected to produce a result in a matter of minutes, AIMC math problems may require days of pondering, math modeling, collaboration, and group discussion. These contemplation and perseverance habits will later pay off, not only in mathematics but in all areas of life.
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Of course, mathematics is not just a tool for developing a sharp mind and meeting like-minded peers. “There is a profound need for mathematics in our society,” says Austin. “It empowers whole nations and helps to tackle social issues like housing, educational access, pollution and public health”.
The pandemic has hit the tribal territories particularly hard, halting planned educational programs. The deep digital divide prevents students in remote areas from accessing math resources online. But the Alliance is looking for innovative ways of supporting the community. This year, in place of a math camp, a mathematical newsletter was distributed to the families alongside food and water. In addition, AIMC aims to pilot-test “math activity boxes,” to be developed in collaboration with Natural Math. The math kits, which would be sent to families, would include problems, explanations for solving them, and math volunteer contacts, to support family bonding over math. AIMC also plans to invite leading scientists to run K-12 webinars on cutting-edge science topics.
“There's a faulty perception that doing mathematics requires "natural ability," remarks Austin. “To get beyond that perception, we guide students to a new experience of thinking about mathematics using well-crafted questions that engage their curiosity and lead to open-ended explorations.” Over the past eight years, the Alliance has amassed invaluable knowledge about the best ways to introduce rigorous, conceptual math to Indigenous communities. This knowledge may serve as a springboard for alternative ways of teaching mathematics, bringing more bright, passionate young minds into STEM fields.
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a28c0e089ab8af831666ecb858a11193 | https://www.forbes.com/sites/juliabrodsky/2021/03/26/scientist-brian-greene-says-the-future-of-humanity-depends-on-early-science-education/ | Scientist Brian Greene Says The Future Of Humanity Depends On Early Science Education | Scientist Brian Greene Says The Future Of Humanity Depends On Early Science Education
"The future of our species relies upon the depth and nuance of our engagement with the world." Brian ... [+] Greene Erin Patrice O'Brien
Brian Greene is a world-renowned physicist in the field of superstring theory, a bestselling author, and an internationally acclaimed science communicator. The Washington Post called him “the single best explainer of abstruse concepts in the world today.” He is the director of Columbia’s Center for Theoretical Physics, and a co-founder of the World Science Festival, produced by the non-profit World Science Foundation. The festival draws millions of visitors every year.
Julia Brodsky: What do you see as a major problem in early science education?
Brian Greene: The future of our species relies upon the depth and nuance of our engagement with the world. Covid has shown that in the most dramatic way. And it is a real tragedy that so many students leave school not wanting to have anything to do with science. We don't spend enough time taking the students out to the farthest reaches of the cosmos or into the inner workings of the molecules within our bodies. Instead, we quickly focus their attention on technical details, so we can assess them more easily. We would be better serving our children if we first focused on sparking their excitement, wonder, and desire to know these details.
Brodsky: Should we talk to children more about the impermanent nature of this ever-changing universe?
Greene: Yes, we should be stressing impermanence as a fundamental quality of how the universe behaves. My latest book, Until the End of Time, lays out the fact that nothing lasts forever. One of the deep guiding principles of physics, the second law of thermodynamics, tells us that everything will ultimately change and wither away. Absorbing such universal guiding principles at an early age gives students a better sense of how they fit into the greater cosmos. And for understanding their own lives, that lesson is utterly profound.
Brodsky: As one 13-year-old student told me, “a human is a creature that is capable and willing to change itself.” How will the way we define a human affect our society and education?
Greene: Defining what it means to be human is a deep and subtle question. It is quite valuable for students to ponder over how a collection of ingredients can come together to yield living systems, including the ones that have consciousness, that can think about the past and figure out the future. Dwelling on the wonder of particles coalescing to yield structures called human beings fosters an appreciation for life and the universe that one wouldn’t get by studying, say, the specifics of the electron transport chain, as my son was forced to do in school.
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Brodsky: We don't often talk to the kids about our limitations, about the fact that we humans see a very limited slice of the universe – and this is where science can help us to expand our horizons and possibilities.
Greene: I like to emphasize how misleading our five feeble senses actually are. They evolved so that we could survive, and survival is very different from truly understanding what's out there. So I really try to give people the sense that our eyes and ears are limited, and the same is true about the thought process that we use to analyze reality. It is exciting to try going beyond those limitations to understand the universe more fully.
Brodsky: Late physicist Freeman Dyson once said, “The public has a distorted view of science, because children are taught in school that science is a collection of firmly established truths. In fact, science is not a collection of terms. It is a continuing exploration of mysteries.” Do you agree?
Greene: Our culture is obsessed with assessment and ranking. The easiest way to rank students is to have exams, and the easiest way to have exams is to have detailed material that has right and wrong answers. However, the most interesting questions about the world are often not the ones that have right and wrong answers. But the nuance and perspective required to present different viewpoints are not easily tested.
To complicate things further, many science teachers didn't really study all that much science themselves. It would be great if kids could learn from practicing scientists or those who have studied the subject really deeply. We need to provide opportunities for kids to immerse themselves in the journey of scientific discovery, as opposed to what often happens in the classroom, where we just teach them a body of so-called facts. At the moment, I think, stepping outside the standard schooling is the most effective way to do that.
Brodsky: What are some interactive ways we can bring kids and scientists together on a regular basis?
Greene: There are many programs that provide children with an opportunity to interact with leading scientists. They include the World Science Festival that I co-founded, which brings science experiences to kids; Nova programs; and many wonderful science-themed kids books. In our World Science Academy, we bring kids into the laboratories of scientists around New York City. Our free World Science Scholars program brings together some of the brightest 14-to-16-year-old mathematicians from all over the globe, for a weekly online gathering with leading professors.
Brodsky: I once spoke with a 10-year-old girl, and she told me, “Every time I turn on the faucet and watch the water flow, I wonder what it looks like on another planet.“ How do we preserve this curiosity?
Greene: You need to create an environment that really is receptive to that kind of questioning. A teacher’s response to curiosity is utterly essential for young children. We need to reward curiosity. One motivation behind the World Science Festival was to help shift the cultural attitude toward science, inquiry, innovation, and ingenuity.
Brodsky: What are some mind-bending ideas that you plan to share with pre-teens in your free “Adventures in Astrophysics” class on the Varsity Tutors educational platform?
Greene: I plan to talk about black holes, a mind-boggling arena of astrophysics, taking the students from the inception of the idea of black holes to our current cutting-edge understanding. Our discussions will guide the students towards an understanding of where they came from, going all the way back to the Big Bang. We will review the major processes along the cosmological timeline that allow for collections of particles to come together into a star like the Sun and a living system like themselves. That will give them a perspective on our life as a blink of an eye on the cosmic scale. I hope students may find it deeply inspiring that they've been given this precious moment to experience the universe and to wonder about all that there is.
This conversation has been edited and condensed for clarity.
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745a772a27b1dd750fc870ec0ea5da5b | https://www.forbes.com/sites/juliabrodsky/2021/12/29/why-questioning-is-the-ultimate-learning-skill/?sh=2d9f27ba399f&utm_source=newsletter&utm_medium=email&utm_content=Why%20Questioning%20is%20the%20Ultimate%20Learning%20Skill&utm_campaign=learning-initiatives-february-2021 | Why Questioning Is The Ultimate Learning Skill | Why Questioning Is The Ultimate Learning Skill
Thoughtful questioning enables students to explore complex ideas getty
“My mother made me a scientist,” recalled physicist Isidor Rabi, Nobel Prize laureate. “‘Izzy,’ she would say, ‘did you ask a good question today?’”
Another Nobel laureate, Elie Wiesel, has likewise echoed the importance of questioning in science and society. "We have learned from history that people are united by questions,” observed Wiesel. “It is the answers that divide them.”
Questioning has a rich and distinguished tradition in education. It goes all the way back at least to the Socratic questioning method, developed in ancient Greece. This disciplined practice of thoughtful questioning enables students to explore complex ideas. In the process, they uncover their implicit assumptions, expose deeply held beliefs, and recognize hidden contradictions. Rather than the teacher filling the mind of the student, both are responsible for moving the dialogue forward.
Similarly, in Jewish yeshivas, a student often studies with a debate partner, in an approach called “havruta.” In contrast to conventional classroom learning, in which a teacher lectures and the student memorizes, havruta learning challenges the student to analyze and explain the material, point out the errors in their partners’ reasoning, and sharpen each other's ideas by questioning them. Educational research suggests that havruta questioning practice may improve students’ motivation, independent thinking, and the ability to communicate complex ideas.
The ability to ask questions is one of the most important lifelong learning skills a student can acquire in the course of their education. The Right Question Institute (RQI) is a nonprofit educational organization focused on inquiry skills, self-advocacy, and active citizen participation in democracy. Students who learn to ask their own questions are more motivated to take ownership of their learning and as a result, demonstrate greater comprehension of challenging content. RQI conducts online workshops at the Harvard Graduate School of Education for instructors in all content and subject areas. The workshops offer active learning experiences in the Question Formulation Technique (QFT), a method of teaching students to ask better questions developed by RQI through years of practice-based research.
Questioning is not easy and may require a lot of reflection and perseverance, as well as a healthy dose of humility. In order to ask a penetrating question, we first need to acknowledge our ignorance of the answer. Questioning takes the familiar and makes it mysterious again, thus removing the comfort of “knowing.” Our desire to question is innate and needs to be preserved and nurtured starting from early childhood. Children naturally question the causes behind everything they see. Before we are done explaining why the grass is green and why the sky is blue, our children are ready to inquire into the deepest mysteries of life, the mind, space and time. But childhood curiosity almost invariably dwindles over time, especially as young people are fed answers to questions they never asked throughout their formal schooling.
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The importance of questioning as a practice extends far beyond the classroom. Prominent business leaders recognize the value of questioning and its role in innovation: “When you’re a student, you’re judged by how well you answer questions,” observed MIT innovator Robert Langer, “but in life, you’re judged by how good your questions are.” Peter Drucker, hailed by Businessweek as “the man who invented management,” grasped this truth decades ago. In his classical book The Practice of Management, he warned that our most important and difficult job is not to find the right answers but to find the right questions, for “there are few things as useless, if not dangerous, as the right answer to the wrong question.”
Managers of most innovative companies have taken Langer’s and Drucker’s observation to heart. “We run this company on questions, not answers,” Eric Schmidt, former CEO of Google, used to say. Hal Gregersen, executive director of the MIT Leadership Center, has pointed out that asking difficult questions is essential in today’s world, “where globalization, digitization, and disruption push leaders to the edge of uncertainty and force them to figure out what they don’t know they don’t know.” Gregersen’s MIT Sloan Executive Education program trains participants to ask game-changing questions, helping them cultivate an inquiry-driven approach to leadership and life.
From science to management to democracy, there is no replacement for questioning. As we strive to support our children’s curiosity and creativity, ensure their school, college, and career success, and help them grow resilient and wise, we first need to instill the affection for inquiry. Encouraging our children to ask better questions may be one of the best commitments to put at the top of our New Year’s resolutions list.
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0fb6c4d199695fcc1b6062b270158e13 | https://www.forbes.com/sites/julianmitchell/2015/03/26/kendrick-lamar-proves-a-challenging-narrative-is-more-than-profitable/ | Kendrick Lamar's 'To Pimp A Butterfly' Proves A Challenging Narrative Is More Than Profitable | Kendrick Lamar's 'To Pimp A Butterfly' Proves A Challenging Narrative Is More Than Profitable
The first week numbers have been released for Kendrick Lamar’s sophomore album, To Pimp A Butterfly, earning the prolific artist his first No. 1 album atop the Billboard 200 chart.
The album sold 324,000 copies, claiming the second-highest first week sales of the year, falling only behind Drake’s If You're Reading This It’s Too Late, which tallied 495,000 copies. Though second in sales, Kendrick edged Drake’s Spotify record for single-day streams with 9.6 million.
Considering the style and depth of his album, it would seem that Kendrick Lamar’s music may have a difficult time crossing over to the masses, despite the heightened level of anticipation. However, To Pimp A Butterfly made a subtle, yet significant statement that power, positioning, and ultimately profit also favors the progressive.
The 16-track follow-up to his cult classic debut, Good Kid, M.A.A.D City, dissects an array of relevant topics with masterful skill and precision. For a generation grappling with inescapable issues of race, identity and injustice, his album arrived as a timely prescription for decoding the thickening layers of confusion, frustration and uncertainty that have compiled from frequent months of civil unrest. His lyrics translate the language of a collective who've become aware of their power and influence, yet seek to make sense of it within the context of their everyday lives.
PASADENA, CA - FEBRUARY 21: Rapper Kendrick Lamar performs onstage at the Rose Bowl on February 21,... [+] 2015 in Pasadena, California. (Photo by Scott Dudelson/Getty Images)
Embodying the ethos that drives today's passionate activists and forward-thinking creators, Kendrick has effectively captured the pulse of a youthful movement steadily growing across the country. The millennial demographic he's reaching reflects the most diverse group in our nation’s history, accounting for a staggering majority of U.S. purchasing power. As Ad Age reports, they are expected to spend upward of $200 Billion by 2017. In addition to growth in spending, African American millennials are the most active on social media and the biggest consumers of both online videos and music.
What Kendrick's album has solidified is scalable influence. The leadership expressed through his music has arrested the attention of a prime target audience. In an era dominated by digital media, brands understand that conversations fuel culture, and the trusted metric for measuring direct impact is authentic online engagement.
Conversations that control the digital space not only shape collective perspective, they further force decision-makers in the marketing and advertising arena to acknowledge evident shifts in the values, interests and lifestyle of the younger generation. With artists like Kendrick Lamar advancing the national dialogue around race, politics, sexuality and belief - while continuing a prosperous path to even greater mainstream success - corporations are put in position to evaluate the importance of investing in empowerment.
Traditionally, the common concern amongst advertisers and major corporations, in relation to endorsing artists with such a strong narrative, was the perceived failure to connect with a mainstream market. Whether the concern was rooted in the assumption that young people were simply disinterested in progressive messages, or grounded in the statistical proof that such material simply didn't sell as well as top 40 Pop – many Fortune 500 companies and brands alike found artists like Tupac, Nas, and now Kendrick Lamar, threatening to earnings.
Yet today, as we see with Kendrick, and even J. Cole’s recent release of 2014 Forest Hills Drive, today’s generation does have a hunger for substance. Millennials want to be inspired and guided by artists they relate to. Brands adapt to the values and interests of the younger generation, making this current shift in consciousness an opportunity for companies to capitalize on new grounds.
With advertisers projected to spend $600 Billion in 2015, focusing over 70% of their spending in media, branded content is continuing its evolution as a primary tool for telling impactful stories, driving conversations and engaging the millennial audience through campaigns that reflect the convergence of entertainment, technology and culture. The rapid emergence of streaming services poses a disruptive threat to existing sales metrics; quickly adjusting the way music is marketed and consumed.
Considering the climate, To Pimp A Butterfly shows the long-term benefit of making demanded music available for early listening. Amassing an abundance of streams may not pad pockets as it should immediately, but it does generate wealth in an assortment of other ways that truly determine artist earnings. These profitable outlets include lucrative tours, festival circuits, amplified press appearances, brand partnerships, and an exponential spike in merchandise sales.
It's been solidified that a substantial amount of people want to hear what Kendrick Lamar has to say. Millions of millennials seek to experience the infectious and liberating energy that underlines his album. To Pimp A Butterfly proves that an artist can be fearlessly committed to elevating the consciousness of a nation and still rightfully earn the respect, riches and rewards they deserve.
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2bb195ad2f45ea9fc28ac670923ae381 | https://www.forbes.com/sites/julianmitchell/2015/05/27/staples-center-and-fanpics-team-up-putting-fans-at-the-center-of-major-sports-moments/ | STAPLES Center, AEG And Fanpics Partner To Put Fans At The Center Of Major Sports Moments | STAPLES Center, AEG And Fanpics Partner To Put Fans At The Center Of Major Sports Moments
More than huge matchups between star players, or fierce rivalries amongst top teams - fans are truly what make sporting events one the most electrifying live entertainment experiences on the planet.
Next to music, sports stands as one of the greatest connecters of cultures and communities. In venues across the globe, bright lights transform people from all walks of life into fanatic patrons uniting to champion their favorite teams. Once thousands fill up seats, attention swiftly turns toward the action until a winner is crowned.
Consequently, even the slightest break in focus can cause fans to miss key moments that not only determine the outcome, but also carve out a timeless space in the history books.
With the launch of their new partnership, brokered by AEG Global Partnerships, STAPLES Center and Fanpics are implementing a state-of-the-art technology that assures you never miss a moment again.
For the first time, sports fans at STAPLES Center will have instant mobile access to a real-time portfolio of personal photos captured during key moments throughout each game.
From buzzer-beaters to game-winning goals, fans can keep their eyes glued to the game, while still actively building an exclusive collection of high-res images that tell the story of their experience.
Noticing the natural convergence of live sports with mobile technology and social media - the live sports and entertainment powerhouse saw an opportunity to give its consumers access to curated real-time content.
“Technology is taking over the industry,” said Nick Baker, Senior Vice President of Global Partnership Sales at AEG. “This partnership birthed from recognizing a tech advancement enhancing the fan experience that is ultimately transforming sports media.”
Utilizing their own proprietary hardware and software, Fanpics operates a series of small robotic cameras strategically placed throughout STAPLESCenter, opening up the in-venue experience to the rest of the world.
Upon entering STAPLES Center, fans log into the Fanpics app and enter their seat number. Once logged in, the cameras recognize your seating location and are able to snap custom images of you at special moments in the game.
Photos are curated into a personalized photo stream within the app that is accessible anytime. Fans receive photos within 30 seconds of capture, offering real-time results.
Photo courtesy of Fanpics
One camera operator watches each game closely, triggering all units to snap photographs at each pivotal moment. Fanpics is expected to generate over 1 million photos per game.
“We over-trigger greatly,” said Marco Correia, Co-Founder of Fanpics. “For every 70 moments captured, we may publish between 20-30 each game.”
In addition to getting high quality photos, each image also comes with a detailed description of the moment.
“We don’t just deliver the photo, we also deliver the Metadata,” said Correia. “It not only confirms that exact moment in time, it also creates context with the players on the court.”
Seeing the opportunity in mobile, Fanpics curates content reflecting a new type of sports media that channels authentic shared experiences amongst fans.
“The world is moving into a space where people are producers of their own content,” Correia stated. “As people, we’re not spending money on cars, but on experiences.”
Both Fanpics and AEG have plans to expand the app into more venues, and ultimately more sports leagues.
Already receiving two rounds of funding, Fanpics has placed its primary focus on further developing innovative technology and launching in their first three venues.
Breaking ground just over a year ago at San Diego State University, the company has since evolved and experienced substantial success. Prior to STAPLES Center, the partnership with AEG kicked off with the LA Galaxy at StubHub Center, a move that also proved valuable.
“Our goal is to be in every venue in the world,” Correia stated. “We’ve been in talks with over 50 teams and are expecting that number to grow even more across the NBA, NFL, NHL and MLS among others.”
Specific plans for brand integration and the role of digital video have not yet been revealed, but Baker believes the new venture presents tremendous promise.
Photo courtesy of Fanpics
“Fanpics offers our corporate partners flexibility, data, and an organic way to reach fans participating in the live sports experience,” stated Baker. “We are committed to enhancing the fan experience and seeing how we can push the boundaries of in-game integration.”
The current user experience is very personal, keeping individual photo streams private, while giving users the ability to instantly share content across social networks.
With collegiate and professional sports growing even faster as entertainment enterprises, more and more fans are filling venues and capturing the content they want. As live events remain a huge draw for brands and marketers, the demand for mobile inventory is also sure to increase just as quickly.
If this announcement is an indicator of what’s to come in the world of sports media, the mobile world of in-game experiences may become just as massive as the main event you showed up to see.
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35edc20e316c4fba98c93771553c084d | https://www.forbes.com/sites/julianmitchell/2015/06/30/the-code-a-conversation-with-dion-no-i-d-wilson-pt-1/ | The Code: A Conversation With Dion "No I.D." Wilson (Pt. 1) | The Code: A Conversation With Dion "No I.D." Wilson (Pt. 1)
Dion "No I.D." Wilson is a master craftsman.
Currently, he serves as the Executive Vice President of Def Jam Records and CEO of ARTium Brands, which includes a roster of artists such as Jhene Aiko, Elijah Blake, Vince Staples , Cocaine 80's and Snoh Aalegra.
He's been a pioneer in music for over two decades -- shaping the sound and catalog of artists like Common, Kanye West, Jay Z, Nas, Big Sean and other notable superstars. No I.D. launched the career of Kanye West as a producer, introducing him to Kyambo "Hip Hop" Joshua, former Roc-A-Fella Records A&R and Co-Founder of Hip Hop Since 1978, who later signed West to his first contract.
As a visionary, his instinct and approach have made an immeasurable impact, collaborating to engineer influential movements and trends different generations have organically adopted. His ability to define the sound and message of an artist places him amongst the most coveted architects in the industry.
I sat with him for over an hour in his studio and received incredible access and insight into the secrets, stories and lessons people never get to hear.
The Code is a series of conversations with innovative leaders in music, media and entertainment. Episodes tap into the secrets, philosophies and value systems that define the new creative class. (Dir. By: Dante Marshall)
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45cabaaf4a569afbf7b3136674712fcf | https://www.forbes.com/sites/julianmitchell/2015/11/12/get-paid-to-be-yourself-the-business-of-being-jon-cohen/ | Get Paid To Be Yourself: The Business Of Being Jon Cohen | Get Paid To Be Yourself: The Business Of Being Jon Cohen
Jon Cohen pictured in his office at FADER / Cornerstone HQ in NYC (Photo courtesy of Cornerstone... [+] Agency)
We all have dreams. They're the images in our imagination that provide a vivid glimpse into the magnitude of our potential. Dreams are limitless and liberating, awakening our spirit with the spark of inspiration needed to push forward. They instill a sense of excitement about the future, leaning on the ideal, instead of relying on logic. Yet, there's a distinct difference between dreamers and visionaries.
Dreamers set their sights on what is possible, while visionaries develop an executable plan to achieve it. Visionaries are conquerors, boldly treading against adversity to attain the next level of their destiny. Vision is what transforms dreams into goals, and turns finish lines into checkpoints. Those with vision understand that there is no peak, and excellence requires a streak of consistency rarely achieved in a lifetime. This special breed of game-changers grasp the notion that some dreams aren't worth sacrificing your purpose. For visionaries, the reward is not found in simply reaching the mountain top, but rather in the fulfillment of the climb. As a proven pioneer in music, media and marketing, Jon Cohen is a visionary who has paved an astonishing path that has placed him at the pinnacle of the industry for over two decades.
Before teaming up with longtime friend and business partner Rob Stone to launch FADER Media and Cornerstone Agency, Cohen made his mark at Columbia Records as Vice President of Alternative Music. There, he shaped the careers of superstar acts like Alice and Chains and Jeff Buckley. Taking his music marketing tactics into the advertising space, Cohen has been instrumental in orchestrating award-winning campaigns for brands like Coca-Cola , Anheuser-Bush, BitTorrent, Levi's and Converse among others. Spearheading FADER Label, which boasts a roster of standout artists such as Matt & Kim, Yuna, the Bots, Editors, and award-winning poet Saul Williams, Cohen continues his commitment to shattering boundaries and ushering in progressive movements in music. Fueled by a passion for expanding the art form and advancing culture, Cohen has played a pivotal role in bridging the gap between Hip Hop and Alternative music. As a leader, he's also perfected the ability to assemble dynamic teams that reflecting diverse perspectives, motivating them to collectively believe in one mission.
I spoke with Jon about his guiding principles, journey through the industry, keys to success, and what's allowed his companies to remain on top in an ever-changing industry.
The best brands in the world aren’t companies; they’re the foundation from which great companies are born – how would you define the Jon Cohen brand?
My brand is built on love and passion. It's rooted in the love and passion for what I do, and a genuine love and passion for what we’ve built. It’s also rooted in drawing inspiration from the things I do away from the business. So much of my inspiration comes from exploring culture and having new experiences that constantly shape how I see the world and approach the business. I grew up as a little kid with a huge love and passion for music. That is a huge part of me, whether within my day-to-day running companies, or within my personal life. Having really broad interests and finding a way to turn them into a career has been fulfilling and ultimately what keeps me going and inspired every step of the way.
When did you know this is what you wanted to do for a living and realized you could design a career defined by who you are and what you care about?
I knew when I was in High School. Rob and I grew up together, and when I was younger, I was just an average guitar player. It became clear that it wasn’t going to work out for me as a career. Then, I stumbled upon Billboard Magazine and realized there was an entire business behind the music that I loved. I thought, I’m not good enough to be a musician, but I can be the person to help expose the artists I believed in who had the potential to be great. I studied the business, figured out who the key players were, and learned everything I could. Then, the big hurdle became figuring out how am I going to get to these people? How was I going to interact or connect with them? I started writing these general letters to different Human Resource departments for internships. Each was very thorough and heartfelt, and 8 out of 10 got rejected. Luckily, one of them landed me my first internship at EMI records. It was really a hurdle, because this was pre-internet, and I had no direct connection. I had to hustle, be diligent and create the opportunities I wanted.
What have you learned about belief and purpose as you’ve grown in your career?
I’ve learned that you need to be persistent and aggressive. You need to cast a wide net and be patient. When you’re young and just getting started in your career, you’re anxious, and you want to get going. You’re in such a rush to get that role, and that’s all you focus on. You feel like you’re capable and you deserve it right away. I needed to keep that in check, but also remain motivated. I learned that once I got the opportunity, I needed to outwork and outhustle everybody. I started early, stayed late, and took on the extra work when my friends were having fun and cruising by. That mentality has continued to drive me.
How important is it to stay true to yourself and build companies that authentically reflect who you are?
That’s what led us to start our own company. We always had this entrepreneurial bug. We saw mistakes others were making, and how we understood the space on a deeper level. We noticed people were more about the commerce instead of the art. We knew that if we started our own company, we could choose the artists, the labels, and the people we wanted to work with. Our move was to break out on our own, leave our two label jobs, and market artists on our own. We left our respective jobs, started this music marketing company, and decided to choose who and how we worked with people. More importantly, we decided to stick with those artists and music over the long run. At the core, both FADER and Cornerstone started with the vision to control the artists and companies we worked with.
What was the biggest challenge in making the transition from having executive roles at major labels to starting your own company?
When you work in corporate America, you have a lot of resources. When I worked at SBK Records and Columbia Records, they were grossing $110MM a year, and had an entire infrastructure in place. When you leave that infrastructure and stability, you suddenly have very little to no income, no certainty, and it all falls on you . Not only do you have to fulfill that business, but you’re now also the assistant, the mailroom, the accountant – you’re everything. We had to wear 5 to 10 different hats. Then, you had the challenge of taking on all the other tasks. That’s the difference – there’s a lot to take on, and you have to be ready for it, and it’s a lot more than the core mission.
What was the turning point(s) that shaped the way you build your businesses?
We were very successful as music marketers, and we knew the knowledge we had about the culture that surrounded music could serve other industries. We knew brands like Nike and Coca Cola had budgets to do things that support artists in a way that labels couldn’t, and we could be conduits to that. That was the turning point. That’s when we knew we could do something on a much larger scale. Not only could we give brands expertise that nobody could give them, we could also give artists a certain level of access, resources and exposure that they weren’t accustomed to receiving. When we realized we had an expertise that helped brands connect them with culture in new ways, that’s when our companies went to new heights. That’s when we grew from a few employees, to 25, and now to 115. Things shifted for us when we knew we could bridge the gap between the two worlds.
You got your start at Columbia Records building the careers of alternative artists at the same time Hip Hop enjoyed a golden era– how did coming up in that time shape the way you approach building businesses and creating the career you wanted?
Between Rob and I, our biggest strength is our backgrounds. Though I worked with Alternative artists, I also loved Hip Hop. What’s made FADER great from day one is that we were all about tearing down the walls of genres. Using labels and segmenting music -- that wasn’t important to us. When we were coming up in the music business, there was very little crossover, because there was very little way to access other genres. With FADER, we put Beck and D’Angelo together on a cover, with Mos Def on the back cover. We always wanted to expose what was next and great in music. If you were a D’Angelo fan and didn’t know Beck, you were going to get familiar with the greatness of Beck. We were instrumental back then, 16 years ago, in tearing down the walls of genres. And, if you look now, people will go from Drake to Taylor swift – it’s like genres don’t exist. You listen to Beats 1 and Apple Music, and they mix genres like the FADER has. We mixed the DNA of modern music, and it comes from where Rob and I come from, and it drives what both companies portray.
With both FADER and Cornerstone Agency sustaining such notable success for so long -- what have been the key aspects of building your business and how have those factors transitioned throughout your career?
It is hard building a business. It takes patience, and you have to be relentless. You are thrown so many obstacles. For every success, you’re going to have 10 obstacles. Some of the things Rob and I had to overcome were monumental, and that’s where most people quit – they can’t handle the obstacles. Every time something is thrown at us, we overcome the obstacles. The longer you’re around, the harder it gets. That’s the biggest thing -- you realize how much of a challenge it is. My advice to people starting a business is to have a really strong dose of reality about what you will need to overcome to stay in business. That’s what we’ve done very well. We’ve grown, and we’re very good at problem solving. You also have to be decisive. It’s about how you react to the bad times that define how long you will last. It’s all about how you handle adversity.
You’ve been at the forefront of media and music marketing for nearly two decades – how would you describe the intersection of music, marketing, tech and culture today? What is the biggest shift you’ve noticed over time?
Over the 20 years we’ve been in business, so much has changed. The record business has gone through complete implosion and transformation. Record labels were thriving businesses when we started, and that has changed. Since, there has been an incredible shift. I’m confident it will bounce back, but it has to be rebuilt. We’ve seen a clear shift in the media landscape. Media was about broadcast TV and advertising, and that was how you could reach a very big audience. Now, the Internet has disrupted that. You need to be focused, smart and calculated to reach a mass audience. The business side of the culture has changed completely. What we’ve done a great job of is evolving and adapting. FADER started as a print title, and has really evolved to become a complete, 360 music platform. We have a strong website, very strong presence thorough social media, and a strong experiential brand. Cornerstone has always adapted to where consumers want to embrace culture, telling them what’s next in terms of where artists and consumers are going. We’ve always been great at telling stories and being able to connect brands to culture. We’re not worried about big TV spots and ad placements. There’s always going to be younger agencies and media properties out there, and we can’t control that. All we can do is make sure we’re at the forefront of that and we’ll stay ahead for another 20 years.
With culture being such a focal point in the world of media and marketing, how critical is it to not only understand it, but to build a company of diverse people who genuinely live and breathe the culture you want to engage?
That’s our weapon. That’s why FADER and Cornerstone have been so strong. We create culture, and we expose new culture. We’ve given artists like Kanye West, Nicki Minaj, The Strokes, The White Stripes, Kendrick Lamar, MIA, Phoenix, and Sam Smith their first cover. We’ve also exposed the fashion around the music. Cornerstone has played a big role in influencing how music is marketed today by being at the core of both sides. Having a genuine understanding and living the culture has allowed us to succeed in both areas. You can’t buy a true connection to culture. Most importantly, we’re not exploitive of culture; we’re respectful of artists, consumers and fans alike. We understand how they want to be marketed and spoken to. We have a strong separation of church and state with our approach, making sure the line is never crossed. We want to be very protective of artists and fans. That’s the most important thing to us. Now, in the era of the Internet, it’s not as important. But, what FADER is good for is stepping out and staying with talent over the long haul. We help companies forecast who’s going be next and help connect those artists wi th their brand.
We’re in a time now where agencies and media companies make up the new music business – what was your vision for Cornerstone 20 years ago, and what has allowed both to keep growing as the market changes?
Our biggest advantage is that we have an incredible staff. They have always brought fresh thinking, a solid attitude, and have really played a pivotal role in helping us evolve. We put implicit trust in everybody who works here. We push them, question them, and we’ve always had great people come out of here with great ideas, and we help push them to evolve those ideas. It’s the diversity of the culture that makes up this team. Even when people leave, they stay very close to this company. They support what we do, and they are part of a family. Having that legacy, the diversity, and putting trust in people here is the success of this place. It’s a mix of everyone’s thoughts and opinions. That’s why we keep evolving. We’ve had people leave here and be very successful. We’ve had people leave here to be the Head of Marketing at Puma, Levi’s, MSNBC, and other prominent places. Their taste and how they’ve grown as people makes us proud.
What has kept you so focused and humble throughout the climb, especially when you’ve experienced such a high level of success?
At the end of the day, where the industry sometimes gets crazy and backwards, is forgetting that the talent will always be the stars in this business. What ends up happening is that the people behind the scenes too often get obsessed with their own success. I understand that without great talent, I wouldn’t have a job. All of the praise and accolades, it wouldn’t matter if there wasn’t great talent. I was always comfortable being behind the scenes of great talent. It became clear to me that my job was to make sure everybody saw the greatness of those artists, and I’m thankful I’ve got to work with some incredible talent. For example, Blur, a huge band in the UK, played their first show at Madison Square Garden. I remember being the first person to pick them up at the airport in the United States when they first got their start, and it’s been 25 years later. Over that time period, I’ve always worked with the band to some capacity, and been involved each step of the way. Seeing them evolve and thrive in their careers, being there to watch them in MSG, it was special. I was most proud of knowing the small role I played behind the scenes in helping them get there. Yeah, I was one of hundreds, but to know in my head I had a small piece in helping them get there meant the world to me. Fortunately, Rob and I have had the opportunity to share so many of those moments.
FADER has given artists like Pharrell and Kanye West their first Magazine Covers and been instrumental in breaking so many artists to the masses – what movement or voice have you wanted the brand to represent?
What we’ve done really well is that we’ve had a really strong experiential component. It’s been 13 years since we started the FADER Fort. We’re able to create content by being face to face with fans in cities like Austin and New York City. We create an environment where our readers can connect outside of the music. We always make sure, whether it’s on the brand or editorial side of what we’re doing, that we create a tangible experience around what we’re doing. Everything that we do, we try to build a component where we can get consumers, fans, and readers to engage. It’s more important to hit a smaller segment and go deep with that segment, having them develop a passion for what you’re doing, than hit the same mass group of people with less impact. We always want to bring what we’re doing with Cornerstone and FADER to consumers in a physical sense. We want to bring experiential interaction. We don’t want our properties to just live in web browsers; we want to give a chance to meet and interact in person. Whatever we do, it has to provide a real experience. It’s the artists that tour and play live. That’s why artists like Kanye and Blur can tour the world. It’s the reason they’re more successful than a pop star that doesn’t connect as strongly in reality. How do we take what we do and give music fans a way to enhance the experience with the acts they love.
What does FADER Label represent, and how do you hope it shapes the landscape of music and media?
Rob and I spent the early part of our careers breaking artists. Artist development has become one of the lost skills for the industry. By virtue of what we do through FADER and Cornerstone, we are constantly exposed to so much great talent. We decided to set up FADER Label as a way to champion the artists that we really liked and that needed our help. From Matt and Kim to Saul Williams, Neon Indian, Yuna, the Bots and others, we have built a strong roster that keeps us connected to the side of the industry we came from and love.
Despite the decline in print, FADER has remained a prominent media brand for over a decade, seeming more relevant now than ever -- what do you credit to its impact and position in the culture?
The reason FADER continues to thrive in a very changing media world is that we are constantly trying new things and evolving how we distribute our content. We are very proud of our print roots and will always support and embrace great photography, design and true journalism, but we will always push the envelope and experiment with new ways to bring that quality to our readership. We recently released The FADER100 Bundle containing our entire 16-year digital archive of all 100 issues through BitTorent. Many of the older FADER issues have been sold out for years, or have never been available online before, so this was a chance for many longtime readers will finally be able to complete their collection of issues, enjoy our full history of great editorial. Through BitTorent, undefinedour 100th issue featuring Drake and Rihanna on the cover, has been downloaded over 1 million+ times. Over the past 18 months, we've invested heavily in transforming FADER into a true 360 degree music platform, doubling our editorial and video resources. Our Editor-in-Chief, Naomi Zeichner, who prior to coming back to FADER was at Buzzfeed, has lead the charge and done an excellent job of leading our digital transformation. Joseph Patel, our VP of Content, has built and executed a very successful video and mobile strategy for FADER that continues to see massive growth.
Now that you're celebrating 16 years and 100 issues, what makes a brand like The FADER important to the future of media?
As the new media world continues to evolve, consumers and readers will continue to become more reliant on curation. There is such a wealth of ways to enjoy content and music but it can be daunting and overwhelming. Music fans want that one trusted, global resource to help them and FADER is taking over that leadership position. FADER will always be about embracing and supporting what is next in music and the culture that surround music while continuing to celebrate the many artists whose rise we have been a big part of.
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f2936a6d425e334879d4a529f66d926c | https://www.forbes.com/sites/julianmitchell/2016/10/29/this-startup-is-using-big-data-and-smart-tech-to-save-the-oil-industry/ | This Startup Is Using Big Data And Smart Tech To Save The Oil Industry | This Startup Is Using Big Data And Smart Tech To Save The Oil Industry
NEW YORK, NY - OCTOBER 28: A sign for an Exxon gas station stands in a Brooklyn neighborhood on... [+] October 28, 2016 in New York City. As lower gas prices continue to do damage to oil companies, the world's largest publicly traded oil producer reported a 38% decline in quarterly profit. Exxon shares were down 1% to $86.04 late Friday morning. (Photo by Spencer Platt/Getty Images)
In an era marked by strides toward solar and green energy, fueled by conversations about climate change and shifts in the global economy -- the big oil and gas industry remains a massive market known for generating substantial portions of the world's wealth.
In 2008, crude oil prices hit record highs, reaching upwards of $150 per barrel, boosting production and inspiring a gold rush amongst investors who banked on the trajectory of a perceivably promising and profitable industry. Yet, the reality plaguing global powerhouses like Exxon Mobil, Shell and BP proved the exact opposite. While experiencing an influx of funding and increased cash flow from inflated prices, these massive industry leaders experienced nearly decade-long declines from 2005 - 2014.
This downfall was primarily ignited by a rise in operational costs due to increased taxes, service costs and development fees. Consequently, more than 250,000 oil workers lost their jobs, over two-thirds of oil rigs were decommissioned and a long list of the top players found themselves filing for bankruptcy. Exxon Mobil recently reported that nearly 4.6 billion barrels of reserves are at risk, with the company hitting a seven-year low that dropped net income from $4.24 billion in 2015, to a 2016 third quarter income of $2.65 billion. The global leader saw their price per barrel fall to an average of just $47.
As the challenges to scale continued building up, big oil companies also suffered from extreme functional and structural inefficiencies. Using outdated methods for measuring productivity in a changing landscape shaped by new technology and tools for tracking data delayed much needed internal growth. The failure to adopt a smarter business model driven by big data and analytics forced CEO's to rethink their approach to securing a prosperous future. Losing billions annually, oil companies needed an immediate solution for working smarter, while gaining lost ground and revenue. That's where Seven Lakes stepped in.
Founded in 2009, Seven Lakes Technologies is an enterprise software company that provides smart solutions to upstream oil and gas companies. The startup builds custom data solutions and technology used to track key metrics and spot operational inefficiencies. Their goal is simple: cut production costs, increase productivity and establish an efficient workflow. Last year, Seven Lakes raised a $20 million Series A round of funding, and is now focused on developing a more robust offering of technology, software and solutions that set a new standard in the space.
I spoke with Seven Lakes CEO & Founder Shiva Rajagopalan about his vision behind the business, teaching big oil companies to embrace technology and his tangible plans to revolutionize the industry.
After so many years of using antiquated systems -- What finally prompted big oil and gas companies to more aggressively search for smarter, tech-driven solutions?
Shiva: The oil and gas industry, with its recent years of astronomical growth, is paying attention to the drop in oil prices. They are working out how to do more with less. With a model built by industry experts, we’re able to provide information in a way they can digest and take action to fix problems in the field quickly. Often, current processes and analytics solutions bring information to the table, claiming that data is the hero. That’s not true at all. The hero is the doer in the company. Our philosophy is to cut the noise, and give the doers in oil and gas companies ownership of trusted, meaningful data to manage by exception. Ultimately, our vision is to be the technology that uses big data and machine learning to better assess and optimize operations for the oil field of the future.
What does a drop in oil or gas prices really mean for big oil companies and how significant are these drops to the industry at large?
Shiva: The decline in pricing has been a huge wake-up call for the industry. They now have no choice but to reduce operating expenses down to bare bones. Now is the time they’re learning to do more with less. When oil was over $100 a barrel, they would just keep drilling and keep making money that would recover the losses stemming from the lack of productivity, inefficiencies, lack of accurate data, etc. The “pump by exception” mindset with analytics and workflow solutions will bring relief to the industry.
For an industry associated with so much wealth and power globally -- What has kept these companies from investing in technology and more efficient practices much earlier?
Shiva: Ironically, the reason oil companies have been slow to invest in more efficient practices is due to their wealth. High market prices and a steady influx of capital allowed them to hide inefficiencies. If they are killing it in the market, why should they change? There is an old-guard that doesn’t necessarily understand how technologies drive greater business value. Sometimes, these business leaders use handwriting, spreadsheets, and grease sheets – that’s how business is done. But, with lower prices, things had to change, and this time disruptive technology exists to support the transformation.
What have you discovered to be the biggest focus or areas of concern for oil and gas companies examining the current climate of the market?
Shiva: The biggest issue these companies are seeking to solve is how they can successfully maximize cash flow . The biggest opportunity to cut costs is a data analysis process called, “pump by exception”. This applies machine-learning techniques to prescribe recommendations as to which well sites need attention. Essentially, we are using data to match a driver with a ride, like Uber for oil and gas. We’re associating a lease operator based on geo-tagging of his or her location, skill set, and other factors - with well sites that may need attention based factors such as the potential for production loss and tank capacity limitations.
With the major players seeing record lows for years, there's clearly a difference between past and present -- How would you describe the evolution of the oil industry and how companies operated?
Shiva: Today, barrels that once went for $120 are now priced at $50. They simply cannot afford to spend money the way they did in the past. We leverage technology and our knowledge of the business to productize solutions that are tailored to solve specific business problems. We’re able to execute in a resource, cost and time-efficient manner. Traditionally, this took vast system integrations and enterprise resource planning companies months or years to do. However, success rates were low due to poor alignment between underlying technology and the required business goal, low user adoption due to unintuitive designs, and data quality issues. These systems were designed for extremely technical and IT-savvy personnel. Operations workers like pumpers, foremen, superintendents and production managers were not the targeted users. These are the people who can help make or break the bottom line, and they are now asking for ownership of the data to manage the business by exception, from corporate to field.
Your company offers a variety of products and solutions to help companies become more efficient -- How does your technology work and what specific metrics or trends do you actively measure?
Shiva: Our technology gathers different types of data sets and converts them into actionable information that gets everyone on the same page -- from oil and gas executives, to the foremen in the field. One of the most valuable sets of metrics we gather and measure are big data from wells. With our technology operators gathering several accurate measurements on down wells, tank capacity, pressure reading, choke sizes and more -- foremen in the field get immediate access to this data, and use it to often reduce millions in production loss. We speak the language of oil and gas companies, so our software can gather structured and unstructured information on a granular level to pinpoint exceptions. Being privy to these outliers gives companies the opportunity to address issues out in the field, reducing downtime and production loss.
We see the headlines of these companies facing huge drops in earnings annually -- How much do big oil companies actually save by using smart technology and data-driven solutions?
Shiva: By leveraging smart data analytics, big oil has the potential to save billions. Companies will save by having data that’s accessible throughout an organization, not fragmented by departments. They can leverage this information to pump by exception, and in return, see a reduction in downtime. For example, a mid-major customer was able to reduce downtime by 50% by going from 5% production loss to 2.5% production loss – resulting in a bottom line impact of over $100 million.
What are your primary product offerings and how do you measure success on both a micro and macro level?
Shiva: Our primary product offering is our Field Data-Gathering Workflow solution. We equip operators, foremen and field personnel with mobile, big data solutions to gather and act quickly upon the data. This leads to a production improvement on average of 2%. For a company producing about 50,000 BOE/D at $45 a barrel, the bottom line impact is $16,400,000 per year. For pumpers, we’re giving them back 1-2 hours of their day. Of course, this gives them the tools to be more efficient with their day and saves millions on productivity each year, but it is also changing their day-to-day lives for the better.
Despite the desire for clean energy and a cut back on big oil and gas, the two industries will always co-exist -- How should people view the position of big oil companies and their role in the evolving economy?
Shiva: If you drive a Tesla, you actually need gas. Gas is used for heating and electricity, and is already a clean energy. So part of what the industry produces is already considered clean. I believe that by using the technology that’s already in place, there may be a way to make hydrocarbon much cleaner. By that, I mean more efficient and safer ways to drill for oil. Innovations in the foreseeable future will continue to be more cost-effective than renewables like wind and solar, which are expensive. The shale industry is unlike any other conventional hydrocarbon or alternative energy sector, in that it shares a growth trajectory far more similar to that of Silicon Valley’s tech firms. In less than a decade, U.S. shale oil revenues have soared, from nearly zero to more than $70 billion annually. Such growth is 600 percent greater than that experienced by America’s heavily subsidized solar industry over the same period. In their growth story, technology has been the market advantage for the oil and gas industry.
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1b6a3d32fdf78f90fb5c63442dce412f | https://www.forbes.com/sites/julianmitchell/2017/11/30/this-on-demand-platform-has-the-secret-to-building-the-perfect-social-profile/?sh=fa6ce24234cb | This On-Demand Photo Platform Helps You Build The Perfect Social Profile | This On-Demand Photo Platform Helps You Build The Perfect Social Profile
In an era where social media stars and digital entrepreneurs continue shaping America’s evolving economy, developing a personal brand online is key to building meaningful connections and spreading your message to the masses. Whether the intent is to find a date, amplify an existing business or position yourself as the enterprise -- social profiles are powerful tools for expressing the unique value and perspective you have to offer.
Though some have no issue snapping perfect selfies, writing clever captions, or being outspoken about who they are, a surprisingly large amount of people struggle with building their personal brand. Some of this challenge stems from the majority of online users not understanding the differences between marketing and promoting.
Promoting is amplifying your brand to the public to generate popularity. Great promoters master the ability to capture attention and drive everyone to the intended destination. Regardless of how good or terrible their party was, if the world showed up, then the promoter was successful. Marketing is solidifying your positioning within a marketplace. Instead of focusing on proving value and getting attention from the public, effective marketing earns praise and credibility from within your respective industry.
As today's generation has grown accustomed to navigating the online world and managing their digital lifestyles, it would seem like building a personal brand should be easy with the abundance of social platforms designed to get a message out. However, not all people feel naturally confident, or know the best approach to cohesively marketing their brand.
Founded in 2007 by Claire Bahn and Gordon Gooch, Online Profile Pros helps people improve their digital footprint by providing a suite of on-demand photography services designed to enhance the aesthetic and impact of their personal brand online.
Operating the largest network of professional photographers in the U.S. and Canada, the company specializes in delivering custom profile photos and lifestyle images tailored to accomplish a specific goal – whether attracting the attention of corporate recruiters, promoting a personal enterprise or searching for love on a dating app. In addition to improving online profiles, the Online Profile Pros also educates users on best practices and ways to effectively optimize their digital channels.
I spoke with Claire Bahn about the vision behind her company, building a strong social profile, and the importance of having a polished personal brand in the digital age.
What is the specific void or opportunity that inspired the idea behind your company
Claire Bahn: When we started out, we were focused on the online dating industry. One of our founders was a photographer in New York City and was originally contracted by Match.com to shoot their clients at a number of different events. It’s still amazing to me how many people, especially online daters, insist that their potential matches have great profile photos, but feel that a selfie is good enough for them. From this initial work with Match.com, we found that more and more people realized that professionally shot, lifestyle profile photos had an immediate impact on the quality and quantity of their dates. Hence, the company realized a global opportunity by helping people get the best possible profile photos so they could find the best match. From there we needed to build an on-demand photography solution and then start recruiting photographers across the US and Canada.
What have been some of the challenges you faced in the process of building your business?
Claire Bahn: The biggest challenges we faced were three-fold. The first was developing an on-demand technology solution that allowed individuals to purchase photography services. While it seems commonplace now, when we started this did not exist, even zip code locators were in their infancy. The next challenge was building a network with qualified professional photographers. As one of our founders was a former professional photographer, he understood the industry and the mindset of many photographers. Most photography studios run as ‘mom-and-pop’ operations. So, convincing high-quality, professional photographers to join a network where their services would be offered on-demand was a big leap for many of them, and certainly took a lot of convincing. The third, and still most daunting challenge has been helping individuals realize that their online profiles represent their personal brand, and that their personal brand has consequences for the social, business, and romantic aspects of their life.
Describe your business model and how it directly helps clients achieve their goals?
Claire Bahn: Our business model is grounded in providing on-demand professional photography and ancillary services at deeply discounted rates. It’s as easy to book with a first-class photographer as it is to buy socks from Amazon.com. Professional, lifestyle photos help people make the best first impression and support their personal brand, which makes finding a job, a date, or improving their social perception that much easier.
What do you believe are the keys to building an impactful and scalable personal brand in today’s digital era?
Claire Bahn: To have the most impactful personal brand today you need to do four things. First, you need to make sure that your written profile is clear, concise and SEO worthy. You should always run spell-check and maybe have a couple of your friends look it over too. Next, post a good, clear headshot for your main profile photo. This photo should preferably be in a lifestyle setting without a plain white or grey background behind you, which can make it look like you went to Glamour Shots or Sears to get your photos done. Never Photoshop a background into the photos. Then, create content about your expertise, interests or passion, whatever that is for you. It’s essential to have a digital footprint to share quality content with others across multiple platforms. Simply ‘liking’ or making brief comments on Facebook posts is not what we’re talking about. At some point in time, you’ve had an urge to contribute your expertise, art or commentary. To support your personal brand, you need to give into these urges and contribute. Lastly, you need to maintain your personal brand by monitoring your brand. While there are services that can do this for you, they’re not particularly cheap. Even if you simply Google your name on a regular basis, you should get some idea of whether or not your personal brand has been tarnished, and if it’s something that you need to address.
What have been some of the biggest blind spots or pitfalls when it comes to building a personal brand and how does your company solve for them?
Claire Bahn: One of the biggest blind spots we continue to face is the lack of individuals aware that they actually have ‘a personal brand’and that what they put online is very important. Some individuals think that a selfie or snapshot of them in drunk in a bar is an acceptable way to represent their online image. Personally, I would never want to present myself to a hiring manager or potential date that way. On the other hand, a number of online dating sites, LinkedIn and other social sites do not realize that their user’s poor personal branding reflects directly on them and diminishes their corporate brand. The best solution that we found has been continually educating about how an individual’s personal brand exists in the digital world and has a direct impact on their life. We have definitely seen an increase in awareness over the last few years.
What is the mission driving online profile pros and what are the primary goals you’re looking to accomplish?
Claire Bahn: Our mission is to help as many people as possible realize and nurture their personal brand. We plan to continue our international expansion and build an even larger network of personal brand professionals -- photographers, stylists, hair and makeup artists, profile writers, branding experts, and business consultants. Our goal is to become the one-stop-shop for everyone’s online profile needs. Secondly, we will continue to educate as many people as we can on the importance of their personal brand.
What are the keys to your company being both successful and sustainable?
Claire Bahn: The sustainability question is an easy one. Online profiles are going to become increasingly more important as a person’s online interactions expand. This will flow into the realm of virtual reality where the interactions will take place entirely in the virtual world with little likelihood of meeting someone in person. Therefore, an individual’s online profile, and thus their personal brand, will continue to take on greater significance. The keys to our success rest on our ability to educate more individuals on the importance of their personal brand and provide them with the tools to create the best possible online profiles. In addition, we will be expanding our services into other industry verticals as well as, offering new profile solutions at different price points. We firmly believe that through expansion and education we can take our goal of making Online Profile Pros the premier destination to improve anyone’s online profile and personal brand.
How do you see your company evolve over the next 3-5 years and what impact do you hope to make on the industry?
Claire Bahn: We see Online Profile Pros dominating three industry verticals: social networks, business networks and online dating. Our mission is to create a new class of personal branding services by evolving to help people create, maintain and defend their personal brand. Social profiles project their social circles, business networks, romantic life, and even their virtual reality interactions. To this end, we’re recruiting power players in each of these verticals, starting with adding Grant Langston, the CEO of eHarmony to our board. Grant is in a unique position to see how individual’s personal brands impact their relationships. As Grant says, ‘I see firsthand the importance of creating authentic, quality profiles and the impact that can have on people’s lives, I’m excited about the possibilities as we continue to see online personal brand building take center stage in the way we build relationships, personally and professionally.'
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852b9e5e87e8d1eac4ce1c9a7e015cda | https://www.forbes.com/sites/julianneslovak/2018/04/10/walmart-partners-with-postmates-to-expand-grocery-delivery-going-up-against-amazon/ | Walmart Partners With Postmates To Expand Grocery Delivery, Going Up Against Amazon | Walmart Partners With Postmates To Expand Grocery Delivery, Going Up Against Amazon
(AP Photo/Gene J. Puskar)
Walmart announced Tuesday that it was teaming up with on-demand delivery service Postmates to expand its grocery-delivery business, in another effort to compete with Amazon. The partnership will allow Walmart to provide same-day delivery of fresh food and other items to customers who order online, starting in Charlotte, North Carolina, and expanding to 100 other metro areas in the coming months. Amazon, which acquired Whole Foods in June 2017, and other retailers, including Target, also offer same-day delivery of groceries.
With the addition of Postmates, Walmart says it will be able to reach about 40% of households around the country. Customers place orders through Walmart's website or already-existing grocery app, which is available on mobile devices, and choose a window of time for delivery. The minimum order is $30 and the delivery fee is $9.95, which seems a bit hefty, but Walmart does offer free pickup service in some locations to customers who want to order ahead and come into a store to get their packages. Walmart has also been partnering with delivery service providers from Uber and Deliv to haul groceries in California and other areas.
In another development, Bloomberg reported on Tuesday that Walmart was slowing down the pace of its acquisition of third-party vendors to its e-commerce marketplace, in an effort to make sure sellers it approves are offering useful products. The change comes after criticism that Walmart was being overly aggressive in expanding its marketplace offerings, with some vendors adding little or nothing in actual value. Walmart now says it aims to offer only quality items through its marketplace. By contrast, Amazon doesn't have an approval process, but allows any vendor that applies to peddle its wares on the site.
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fc35a47db07ae350c5249a0ca0f2851e | https://www.forbes.com/sites/julianvigo/2018/10/17/electric-vehicles-and-the-necessity-of-cultural-change/ | Electric Vehicles And The Necessity Of Cultural Change | Electric Vehicles And The Necessity Of Cultural Change
Rome, Italy - August 13, 2018: Electric car of Italian Poste Italiane. Poste italiane SpA is an... [+] Italian postal services provider. It was partially privatized by selling 35% of its shares to the public. Credit: Getty royalty free.
Two weeks ago, a new organization called Veloz was launched by both public and private stakeholders in the transportation sector in order to accelerate the adoption of electric vehicles (EVs). Its first project called “Electric For All” is the largest multi-stakeholder public awareness campaign in North America which includes a host of private car manufacturers (e.g. GM, BMW Group, Honda, Nissan, Kia, Subaru, Daimler, Fiat Chrysler Automobiles and Ford), electricity providers (e.g. Pacific Gas and Electric, Southern California Edison, San Diego Gas & Electric) and charging network providers (e.g. EVgo, Greenlots and Electrify America). Together with government organizations like the Bay Area Air Quality Management District and policy makers (e.g. California Energy Commission, California Air Resources Board, California Public Utilities Commission, California Department of Transportation), we are seeing a concerted effort for automobile manufacturers to move forward at a swift pace in getting consumers out of fossil fuel cars and into EVs.
The US is not alone in the climb towards green transportation with more than 166,000 electric cars registered in the UK currently the National Grid predicting that as many as 36 million cars will be in circulation by 2050. There is currently an agenda set in Scotland to have greater collaboration between the public and private sectors as there is proposed by Veloz in the US. And from country to country, we are witnessing an exponential growth in the EV market where in China there are currently 1.2 million EVs registered and in the United States 750,000.
There are several issues that are blocking the higher adoption rate of EVs by consumers however. First there is the issue of the electric highway which although has been recently completed in Australia, is far from a reality in the US and the UK with only 3 per cent of supermarkets in the UK equipped with charging point. And the more desirable technology called rapid chargers which can fill 85 per cent of an EV battery in 30 minutes are even less common. Along with charging stations, the actual issue is the battery technology where battery cell production is not meeting market demand for cell capacity. In fact, there are plans to open up a second cell production in Europe since the only existent factory is Nissan’s battery cell factory in the UK which cannot possibly meet the future demands.
Another issue that keeps consumers from trading in their fossil fuel car for an EV is the price tag of these automobiles. A report last month from Deloitte shows that EVs are losing the pricing battle with the promise of a huge price drop in EV has simply not happened. EVs with enough range to meet the needs of ordinary drivers means that the cost per kWh of batteries has declined, yet the sticker price for an EV equipped in the same manner as petroleum-fueled cars starts at $40,000 for most brands. comes to e-cars' percentage share of all passenger cars. They accounted for 39.3 percent of cars newly registered in 2017 and 6.2 percent of all cars on the nation's roads.
Another fear is that studies show how consumers tend to be wary of new technology which informs their decision to put off buying the EV hoping that a better model will come out. The problem with technology is that a better model will always come out. The issue is when consumers are paying higher prices for new tech automobiles coupled with the fear that they might be buying a car they don’t understand or which might potentially be defective. Even with clear legislation in place and the services of lemon law lawyers across the country, there are still loopholes in the system. For example, in Connecticut it is still not possible to buy a Tesla due to the way that the lemon laws in that state are still anti-consumer and make it difficult to be fully protected should the consumer purchase an EV with serious problems from the start. Obviously, at a higher price tag consumers are nervous at jumping into an unknown technology.
Yet, so many people are seriously concerned about the catastrophic conditions of the planet as daily articles emerge indicating that we are on the brink of total collapse ecologically. Obviously, most people want to be part of the solution and not the problem. So how can we resolve our cultural contradictions of embracing new technology with the hope that the more destructive technology might be disappeared? And here is where we get to the muck of culture and ecological necessity. Twentieth century American journalist for the Chicago Daily News and the Chicago Sun-Times, Sydney J. Harris wrote: “Our dilemma is that we hate change and love it at the same time; what we really want is for things to remain the same but get better.” What is it about the our social need to fixate on the betterment of our societies without being entirely dedicated to advancing the changes necessary in our daily habits, practices, and most especially our purchases?
Part of the problem of resolving the issues around ecological solutions to transport like EVs begins with the proposition that many people don’t need to own personal vehicles in the first place. Our need to own personal vehicles is something more of a tradition than a necessity today. More and more people are telecommuting to work and mass transit systems in most countries of the world belies the need for individual automobiles. And with the rise of car share programs all over Europe and North America, owning an individual car is something that we need to rethink. In the current ecological state of the planet, the changes that we can in our daily lives and accumulation of objects needs to be radical.
Instead of asking ourselves, “Which one do I need?” we need to ask this: “Do I really need it?” When it comes to automobiles that change of which Harris spoke is much more realizable when we evaluate the conflations we make as a culture between need and want.
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d5ffec69b5bb912c1a37baa1d1cc572e | https://www.forbes.com/sites/julianvigo/2019/07/02/can-we-retain-our-privacy-with-new-technology/ | Can We Retain Our Privacy With New Technology? | Can We Retain Our Privacy With New Technology?
A Google Inc. bicycle is seen at the company's headquarters in Mountain View, California, U.S., on... [+] Wednesday, April 25, 2018. Alphabet Inc. is pushing efforts to roll back the most comprehensive biometric privacy law in the U.S., even as the company and its peers face heightened scrutiny after the unauthorized sharing of data at Facebook Inc. Photographer: David Paul Morris/Bloomberg Photo Credit: © 2018 Bloomberg Finance LP © 2018 Bloomberg Finance LP
Privacy and free speech are two of the top techno-cultural issues that have been ricocheting about since the rise of the internet. Free speech has become a lynchpin for democracy advocates who wish to maintain that the US Constitution is upheld online as well as off. Yet, privacy issues are inextricably intertwined with free market capitalism as internet sales are more and more dependent upon the exchange and analysis of private data. Where is the balance between our freedom to use public spaces—both real and virtual—to include our rights to privacy and the freedoms of businesses to cull information that they deem publicly available (or at the very least made available at the end of a long clickable blurb)?
First, there is a legal grey area where companies like Checkr offer facial biometrics services along with other companies such as Berbix and Onfido. One company, Biometrica Systems, is offering what they call “Advanced Facial Recognition” which takes a customer's photo and compares it to verified government documents in order to identify anyone suspicious. More worryingly, this company uses the biometric information to provide constant criminal background checks and it will notify organizations in near real-time when an employee has potentially been arrested.
What this means, is that aside from private companies enlisting themselves in law enforcement, even tangentially, private individuals are now being inculcated into the larger structure of biodata by force. In the same way that those people who refused to get credit cards in opposition to big banking policies and high rates of interest were forced into signing up for credit cards with the onslaught of economic electronic transactions, we are facing a similar paradigm today where employment and purchasing may very well be dominated by biometric data systems.
And there is good reason for caution since the data which companies cull on private citizens falls into grey legal areas where now private companies are operating without full disclosure to those whose information they hold. Moreso, these companies act with an unofficial power, not necessarily state-granted, to pass on such data to state authorities. Additionally, there are privacy issues related to employment background checks that verge on the forced surrender of these rights in exchange for the ability to eat and pay rent. As these practices become more widespread, so too do stealth and even unethical practices such as employers fishing social media accounts for private information. Add to this the many companies operating through spam market with emails that read “Someone might have run a background check on you,” it is easy to feel insecure that not only are you being spied upon but that there is little to no legal oversight of your privacy rights.
It is easy to feel surveilled in this era of hyper-surveillance. As more users are opting to surf the internet through VPN technology, there are just as many others worried about government spying, hence many web surfers opt for services that hide IP addresses or they opt for web-based anonymizers. Privacy advocates like the ACLU have warned that such technology is encroaching on our human freedoms and these extend far beyond just the internet. There has been much discussion in recent months over the expansion of satellites used to survey private citizens beyond international spying. And the fast-paced advances in this technology is outpacing the government’s ability to regulate it. In short, the legal limitations of spying through new technology can soon mean that more privacy issues are a grey area legally speaking.
In fact, people-finding websites are not going away—and this includes the many companies which specialize in background checks. The sale of private information is a multi-billion dollar business such that companies like Acxiom amassed $1.1 billion in sales in 2011 from what it calls “analytical services.” There are companies such as HireRight and CheckThem.com which offer background checks and public records searches operating within the framework of employment verification. where background checks are becoming increasingly important within the employment sector. However, there have been recent changes in the law in California and Vermont which mean that data broker companies in these states now face more restrictions upon what information can legally be culled about people without their express consent.
Still, by all accounts, we ought to be far more concerned about the information Facebook, among other social media giants, are collecting on us given that the trade-off between the private information we surrender in return for use of their systems. To be clear, these tech giants are compiling and selling information to data brokers who also cull information from publicly available sources such as property records, marriage licenses, and court cases. Data companies may also gather medical records, browsing history, social media connections, and online purchases. Depending on your residence, data brokers could even purchase private information from the Department of Motor Vehicles or retail shops.
Privacy and capitalism may very well be at odds with each other, but it is up to our lawmakers to decide to what degree the right to privacy is being exploited by companies who offer employment only if people surrender their privacy and biodata in exchange for a job or other social transactions. Ultimately, when people are given the “choice” between public or economic viability and socio-economic alienation, we must recognize that there are no choices, only coercion.
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47ddcb267476b632f587696efdc5c4aa | https://www.forbes.com/sites/julianvigo/2019/08/13/surveillance-technology-and-cultural-notions-of-privacy/ | Surveillance Technology And Cultural Notions Of Privacy | Surveillance Technology And Cultural Notions Of Privacy
An employee demonstrates a concept biometric payment system on the Wirecard AG exhibition stand at... [+] the Noah Technology Conference in Berlin, Germany in June. Photographer: Krisztian Bocsi/Bloomberg Photo credit: © 2019 Bloomberg Finance LP © 2019 Bloomberg Finance LP
Earlier this year, San Francisco became the first city in the United States to ban the use of facial recognition technology. In Britain, however, facial recognition technology has been the focus of political deliberations where the UK human rights charity, Liberty, joined complainant, Ed Bridges, a “father of two, a football fan and a campaigner on human rights” in his lawsuit against this technology. Last year, Bridges, an experienced human rights campaigner, realized that facial recognition cameras had been scanning the faces of passers-by, without their consent, storing these individuals’ biometric data. Bridges maintains that this technology was not only leveled on an entire population, but it was done without any “warning or consultation.” Liberty contends that the risks to such technology are far more complex citing: “Studies have shown facial recognition disproportionately misidentifies women and BAME [black, Asian and minority ethnic] people, meaning they are more likely to be wrongly stopped and questioned by police. By using a technology they know to be discriminatory, the police have breached their duties under equality laws.”
Liberty joined Bridges’ lawsuit in order to challenge the use of digital surveillance of individuals in public areas. Megan Goulding, Liberty lawyer states: “Facial recognition technology snatches our biometric data without our knowledge or consent, making a mockery of our right to privacy. It is discriminatory and takes us another step towards being routinely monitored wherever we go, fundamentally altering our relationship with state powers and changing public spaces.” Bridges’ fundamental argument is that such use of technology breaks data protection and equality laws. The case is presently under consideration and the judgment is expected in July or September of this year, but this case could set a precedent in a country where CCTV is pretty much everywhere in cities and urban spaces. Fundamentally, the question the courts must grapple with is this: To what length can digital surveillance observe and when does the recording and storing of information like facial data become a step too far?
In addition to this case, there are many the privacy of individuals today are more than ever under threat, hence last year’s introduction of the GDPR and myriad lawsuits which are challenging tech giants about their use of private information. Online sites are replete with privacy traps, especially considering how the virtual sector targets advertising towards certain age groups and websites that merely require that a minor click “I am 18 years old or older.” In addition to age of consent issues, there are other factors such as the risk of apps that offer free services and even review sites which are able to link your email address or phone number to existing profiles in marketing databases. Children and adults are at the cross-hairs of AI and targeted advertising today to such an extent that it is becoming increasingly more difficult for people to use the internet without surrendering some degree of privacy while oblivious to the fact that we have a choice in the matter.
Just as worrying is the New York Times report last December about Omar Abdulaziz, a Saudi dissident based in Montreal, who filed a lawsuit against the NSO Group, the Israeli firm behind Pegasus, the controversial iPhone spyware tool. In the lawsuit, Abdulaziz contends that the Saudi regime, with the assistance of the NSO Group, obtained communications between himself and Jamal Khashoggi immediately prior to the journalist's murder last year. Khashoggi’s death, which happened inside the Saudi embassy in Turkey, is also alleged to have been recorded on Khashoggi's Apple Watch, a claim still under scrutiny. What this issue raises, along with other concerns regarding of putting medical records on mobile devices, is how smartwatches pose many concerns for privacy. Between men’s watches and GPS devices for children, there are many concerns over safety, privacy and consent with wearable tech in addition to monitoring devices found in all areas of public and even private life. And just today, a whistleblower has highlighted privacy concerns of Apple Watch and its employment of the Siri platform which sends less than one percent of recordings for quality control grading to Apple contractors. The whistleblower notes how these contractors are privy to everything from recorded drug deals to sexual acts in their job of grading the voice assistant.
The reality is that biometric recording devices have already been used for many years in public spaces. It is incumbent upon us to learn of our rights regarding this technology—to know what is being recorded and to create the legal mechanisms that allow us to have our data removed. As online data collection technology is growing in scope and use, the bigger problem to tackle is how our privacy constantly remains at the crosshairs of multinationals looking for ways to profit from our data while most internet users are quite oblivious to this encroachment. We need to push our politicians for clearer legislation regarding our right to privacy with the GDPR and The California Consumer Privacy Act of 2018 serving as two potential cultural and political models.
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7d64db75292a64b8980ffb0410b14cd0 | https://www.forbes.com/sites/juliapimsleur/2013/01/15/lessons-from-le-club-med-reinventing-a-50-year-old-brand/ | Reinventing a 50-Year-Old Brand: Lessons From Le Club Med | Reinventing a 50-Year-Old Brand: Lessons From Le Club Med
The little white card in our suite at Club Med asked, “Is there anything we can do to improve your room or your stay? Please fill out and hand to Reception.” This was the first of many signs during our stay that Club Med is trying and largely succeeding in satisfying demanding high-end vacationers. Like many entrepreneurs, I have a hard time turning off my business-owner-brain… even, or maybe especially, on vacation. I wonder, are the receptionists following protocol? Would my staff treat our customers better or worse or is there anything I can learn? Instead of checking out the Latin dance lessons, I find I am thinking about how Club Med is doing as a business and what lessons can be drawn from their successes over the last 50 years.
Some quick research, in between chasing my four-year-old around in 22-inches of water as “Aqua Tickle Monster,” reveals that Club Med posted a €2M Euro profit in 2012 and is opening new clubs in Turkey, Italy and China this year. They also just got a substantial investment from a large Chinese company, Fosun. I decided to sit down with the highest manager I could corner to get a better idea of Club Med’s latest plans. This was our family’s third time at Club Med in Punta Cana, Dominican Republic, so they must be doing something right. We are back again because of the Mini Club our kids rave about for months (and which gives us the gift of guilt-free “grown up time”), because we meet families from Europe, the UK, and Canada, because we like seeing our two boys (four and eight) speak a frittata of French, Spanish and English all week, and because the 3 ½ hour nonstop flight from New York to reliable sunshine is hard to beat. Plus, both my husband and I went to Club Meds with our families as kids, so there is some brand loyalty, though that was the OLD Club Med – complete with half baked night clubs and dorky costume competitions. We both came back to Club Med with some trepidation as adults, now discerning professionals and patience-worn-thin parents.
Gilles Meyer is the assistant “Chef du Village” (a title that has me looking around for Asterix and Obelix) and is about 35, a youthful-looking blond Frenchman built like a former tennis pro, which he is. He spelled out how Club Med is trying to woo families like ours and the changes that have been made in the last decade, as well as why he has chosen to make Club Med his professional home. Back in 2002, Club Med was in the same post-9/11 recession slump as much of the travel industry. The then 40+ year old company brought in a new CEO, Henri Giscard d’Estaing. Perhaps because he was the son of a President, or because he just has a good nez for when to turn the ship, he changed Club Med from a mid-priced, mid-market vacation experience that mainly targeted singles to a more exclusive, higher-end, customizable, experience for families. Today Club Med vacationers are 70% families, 20% couples and just 10% singles. So what do those changes look like? Where there used to be one choice of room level, now there are three (from medium pricey to very, very expensive), where you used to have to eat at tables of eight for each meal, now you can have privacy at tables of two and four. The G.O.s (Gentil Organisateurs – members of the Club Med team, which translates to “nice organizers”) still may ask to pull up a chair at your family breakfast or recruit volubly for a volleyball game, but gone are the days where they would literally pull you from your lounge chair or match-make your family with another at dinner. Club Med has also gone green, at least in terms of its affiliation with various eco-friendly nonprofits.
Gilles mentioned four main things he thinks Club Med is doing right as a company and which explain why he wants to keep working here after ten years:
1. Professional Development – Club Med invests heavily in their staff, providing ongoing training and a 3-week career advancement programs in Vittel, France every year. Employees can become managers in as short as three years, depending on the position.
2. Room to innovate – although headquarters makes the big decisions that all 80+ clubs must follow, the Chefs du Village can try out new ideas at the local level. If they create something great they can bring that back as a “best practice” with the possibility of being adopted by all the clubs.
3. Brand – Club Med is a time-tested international brand, and people are proud to have it on their resume. As one young G.O. from Montreal told me, “when people see Club Med on your CV they know you know how to work hard!”
4. Variety – G.O.s have the chance to change clubs every 6-12 months and working at Club Med provides the promise of travel to places like Hawaii, China and Italy, fully paid. Soon they will be opening several new destinations in China, thanks to Fosun’s investment.
What struck me as one of the best testaments to Club Med’s successful transition was how Gilles was able to explain the new priorities and rattle off the Core Values without hesitation (Freedom, Multiculturalism, Responsibility, Pioneer Spirit, and Kindness). He clearly feels completely bought into the mission and values of the company, and I imagine that what worked for him has also worked for thousands of other employees who are redefining the Club Med experience. Gilles got a call on his cell phone and had to dash off to greet a new batch of arrivals. There will be plenty more arrivals at Club Med, thanks to their ability to change and reinvent their brand. This willingness to reinvent inspires me as a business owner, and gives me hope as a parent that our sons might one day be able to relive happy childhood memories chasing their own kids around Club Med kiddie pools.
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f1ead424fa3fba6762d3f5e8388da8f7 | https://www.forbes.com/sites/juliapimsleur/2014/03/13/steal-big-business-talent-for-small-business-dollars/ | Steal Big Business Talent For Small Business Dollars | Steal Big Business Talent For Small Business Dollars
If you run a small business (defined by the US Government as having under 500 employees) then chances are you spend a lot of time worrying about who is on your team. There probably isn’t a lot of fat on your payroll ribs and each person makes a critical contribution to your success. You’ve heard it before: Hire good people. Keep good people. Fire fast. Yes, I know, easier said than done.
As an entrepreneur running a company that falls squarely in the “small business” demographic (of the 5.8 million “small businesses” in the U.S., 90% have fewer than 20 employees), I have spent a lot of time thinking about how to attract top people without paying big company dollars we just don’t have. On my team are people who worked at Disney, Sony , Warner and companies with 100x our revenues. We have been able to grow to being a multi-million dollar generating company with under 10 full time staff in part because we are rigorous about the team.
Here are my top 5 secrets to attracting and keeping top talent:
1. Be opportunistic – Or, in other words, “always be hiring”. When you need someone to fill a top role at a small company, you don’t have time to spend months looking. If you meet someone who’s good at what they do, find a way to keep her as close as possible, even if you don’t have a position open at that moment. When I was raising capital a couple years ago, I met the perfect candidate to be my CMO, even though I wasn’t hiring yet. I offered her on a consulting position, and promised I’d bring her on full time when I raised the cash. By showing potential investors that I had already attracted top talent, I was actually able to raise the money faster. She became a full time employee once we secured the funding and is a star player for us.
2. Move swiftly – Once you’ve identified a top candidate, you have something big corporations don’t—the ability to move quickly with an offer. When we hired our VP of Finance she was being courted by a Fortune 500 company at the same time. We didn’t have the multiple layers of approvals and red tape that bog down the 500+ person firms, so we were able to make an offer while their HR department was still spinning its wheels. Their loss, she is fantastic!
3. Offer Flexibility – One of the greatest attractions of running a small company is being able to offer, and follow through, with the promise of a work/life balance. Flexibility is one of the keys to making employees happy. At our company three of the SVPs have young children. I promised they would be able to go to important school and family functions and they won’t be asked to go to a conference that falls on their child’s first birthday! Return on investment: Millions in goodwill.
4. Empower People – Another aspect of small business that appeals to top candidates is the ability to make a difference. Make a point of soliciting your employees’ opinions and give him or her an opportunity to be part of the inner decision-making circle. The mere promise of joining a team where each person is truly valued is a big draw. Provide, and ask for, regular feedback, whether at meetings, retreats, or just weekly conversations. We have no cogs in our wheel, just spokes.
5. Create A Positive Culture – I am a fan of the book DRIVE that details what motivated people (hint: it isn’t just money). We worked out Core Values as a team and have them hanging in our office in plain view. We refer to them at meetings, at our semi-annual Strategy Retreats, and at reviews. Some of the things we do that fall into this culture category include checking in with staff regularly about what will make our company a great place to work (people want to go to yoga!), regular staff lunches to celebrate achievements from the previous quarter (deli lunch if we missed the targets, sushi lunch if we hit it!), engaging in professional development as a staff (bringing in guest speakers, having learning brown bag lunches), going on a half day retreat twice a year and never skipping our annual summer outing to a 3D movie with our kids.
While going to see Toy Story 3 followed by ice cream doesn’t SOUND like a killer strategy to compete with Fortune 500 companies for talent, if you listen to your employees about what they want and work to give it to them, you might find you have more than you think already in hand.
How do YOU attract and retain top talent?
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5feda0f2eb17e7da760ceb31472e0809 | https://www.forbes.com/sites/juliawuench/2021/02/01/the-importance-of-social-capital-according-to-one-black-female-founder/ | The Importance Of Social Capital, According To One Black Female Founder | The Importance Of Social Capital, According To One Black Female Founder
Charlene Izere Charlene Izere
I sat down with Charlene Izere, a multi-passionate entrepreneur who runs three brands and businesses: Wellness Delivered, a self-care and community brand; Melanin & Money, a resource hub for Black Women entrepreneurs; and Soulful Systems, an Online Business Management Agency. As the nation grapples with last summer’s racial reckoning, Charlene and I discussed the unique experiences she's faced as a Black entrepreneur. Although Black women are this nation’s fastest growing group of entrepreneurs, they face astronomical hurdles. Charlene and I chatted about her fight for visibility, creative story-telling, and her ethos around revenue generation.
Julia Wuench: What are two big things Black entrepreneurs who are just starting out should know?
Charlene Izere: First, do not underestimate the power of storytelling. Use your story and experience as an opportunity to position yourself as a subject matter expert. You are your greatest competitive advantage. I grew up as a refugee in one of the least diverse states in the U.S. and figured out how to scale side hustles and escape the shackles of poverty. That’s a crucial part of my story and it draws others to me.
Second, publish free content. There is a fear among many entrepreneurs that providing free content will mean no one will ever buy anything from you. The reality is that people will buy from you IF you share valuable content.
Wuench: What’s your advice to those who are struggling to gain traction on social media for their business?
Izere: Do a social media audit of your business. What platforms are you currently using? How often do you churn out original content? What has engagement historically looked like for you? Where is your ideal client? Get to know that platform and utilize ALL of its features. It’s easy to spread yourself thin by trying to post on every platform. Once you’ve created a loyal community on one platform, expand to another platform.
Wuench: Can you tell me about how you managed to cultivate an entrepreneurial network? Also, what signals (either encouraging or discouraging) should entrepreneurs be on the lookout for in potential communities?
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Izere: Personally, I struggled to find an authentic network, so I created my own: Melanin & Money. As a Black entrepreneur, I struggled to find a community that reflected and supported the unique challenges of Black entrepreneurship. On my journey to finding and eventually building community I noticed several questions that Black entrepreneurs can ask themselves before joining a community:
Is there diversity in this community? Does the community pay homage to the cultures which they use content from? Is there transparency about who sits on teams and how decisions are made? Is every month Black history month, not just February?
Wuench: Do you have an ethos that drives your business decisions? How would you advise others from what you’ve learned?
Izere: I implement a “purpose-focused profit” strategy. My purpose is to leave the world Blacker than when I entered it. And I carry that philosophy with me in all of my business decisions. Others can ask themselves: ‘How is my mission aligned with my revenue model? What is my ethos around profits and income generation?’ Profits are a byproduct of your purpose.
Your purpose will also create momentum for your business. There is more buy-in from your audience when you lead with a purpose-driven business model.
Wuench: What are your 2021 goals?
Izere: My goal for myself and for other Black women is to go into this year with systems that will drive our entrepreneurship legacy for generations to come.
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704e72098dadd8408eacd551c2a5df44 | https://www.forbes.com/sites/juliecooling/2018/02/09/global-x-on-thematic-disruptive-etf-investing/?utm_source=yahoo&utm_medium=partner&utm_campaign=yahootix&partner=yahootix | Global X On Thematic, Disruptive ETF Investing | Global X On Thematic, Disruptive ETF Investing
Jon Maier, CIO, Global X RIA Channel, LLC
Watch Now
Jon Maier, Chief Investment Officer, Global X sat down with Julie Cooling, Founder & CEO, RIA Channel to discuss their suite of income, thematic, country funds, and factor-based ETFs. Maier moved to Global X from Merrill Lynch to offer his experience and knowledge of ETF model portfolio management. As the due diligence manager and gatekeeper for Merrill’s $40+ billion ETF model portfolio business, Maier has seen it all in terms of ETF offerings. Product innovation drove Maier to Global X, along with the opportunity to build their model ETF business from the ground up.
Two areas Maier intends to focus his attention on immediately, include delivering multi-asset, diversified income solutions, and strategies to use thematic investing wisely within a total asset allocation model. Lithium, robotics, and artificial intelligence have seen huge gains over the past several months. Sub-themes within traditional technology or industrial sectors are evolving and challenging traditional sector investing methodologies. New disruptive sectors or pure themes combined in a thoughtful, risk-managed portfolio may offer investors decent exposure to such innovation without the volatility of traditional single-sector investing.
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36e5731390a9f56dc89016cf96ff3ef5 | https://www.forbes.com/sites/juliejason/2021/01/29/newby-billionaire-by-way-of-the-lottery-next-stop-your-own-family-office/?sh=5b8eddb92f5c | Newbie Billionaire By Way Of The Lottery? Next Stop: Your Own Family Office | Newbie Billionaire By Way Of The Lottery? Next Stop: Your Own Family Office
You’ve won the lottery, and it was a “B”iggie, as in “B”illions of dollars. Now what?
The holders of two tickets faced that question last week. On Jan. 22, in Michigan, a Mega Millions ticket hit the jackpot at $1.05 billion. Two days earlier, on Jan. 20, in Maryland, a winning Powerball ticket rang up at three-quarters of a billion dollars.
If you are the one holding a winning ticket, a BILLION thoughts must come to mind. If this is the first time you have won a big lottery – and I’m guessing that it is – you DO NOT want to blow this. How can you best handle this opportunity – a chance of 1 in more than 300 million for the Mega Millions jackpot – without making costly mistakes?
The winner of the $1.05 billion Mega Millions lottery needs to take the right steps to avoid making ... [+] costly mistakes. getty
Your First Step
Let’s break this down into phases.
Phase 1 is what to do NOW.
For starters, you need to sign the back of your ticket and put it in an ultrasafe place.
Then, think about how famous you want to be. Do you want everyone to know that you won this big amount? You might not be able to avoid it. For example, a spokesman for the Michigan Lottery told The New York Times NYT that “Michigan law requires that winners of games played across states, such as Mega Millions and Powerball, be publicly identified.” However, in Maryland, the Powerball winner can remain anonymous.
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Give that some thought; consider setting up a trust to preserve anonymity. You’ve got some time (check to be sure) before you need to claim your winnings. For example, if you bought your ticket in Michigan, prizes must be claimed within one year of the date won, according to the Michigan Lottery website,
In the meantime, you might want to keep quiet about it, even with friends and extended family, while you work on your next, crucial phase.
Your “Family Office”
Phase 2 is what to do next.
I’ve just spent some time reading about lottery winners. All the articles are well-meaning and helpful indeed. But, here’s the real scoop.
You should not go hire a financial adviser and a lawyer and a tax accountant, as just about all the writers advise. Instead, with hundreds of millions of dollars in after-tax winnings, you don’t need a randomly assembled team; you need a machine. What kind of machine? The kind that your peers (very wealthy people) have. The machine is called a “family office.”
A family office is your own personal firm that handles all things financial for the very wealthy – everything from investment management to bill paying to tax planning to funding charitable causes.
Your family office will be staffed with your own full-time CPA, tax lawyer and money manager. They will be charged with organizing your new financial life. You will not be searching for what stocks to buy on your own. You will not be reading about how to save taxes or fund your favorite charity on your own. You will have your own personal family office experts in charge, with the goal of making your life as easy and safe and productive as possible.
Resources
To start exploring, check out the Institute for Private Investors. According to its website, “Families of substantial wealth rely on IPI to provide a safe harbor where they can learn from each other and leading experts, while fostering lifelong relationships with like-minded peers.” (Full disclosure: I am a former professional member of IPI.)
What Not To Do
There are many mistakes lottery winners make, just like others who suddenly come into great wealth.
The Journal of Accountancy cautioned about loaning money to family and friends, and pointed out the problems with making decisions right away and not thinking long term. Forbes encouraged lottery winners to live within a budget and avoid sudden lifestyle changes.
CNBC brought up two errors made by previous lottery winners: Don’t lose your ticket, and don’t carry cash around.
USA Today listed a number of things not to do upon winning a multimillion-dollar lottery, including telling everyone you know that you are a winner, which makes you a target for people seeking money (and possibly puts you in personal danger); buying everything for everyone (or yourself); and backing the business ideas of friends and family.
What To Do
Avoiding mistakes is just the beginning. The ending of your story as a lottery winner needs to be a happy one. Here is the wisdom of the owner of the store that sold the winning Powerball ticket in Maryland, who told The Associated Press: “I just hope whoever has won it uses it wisely and that other people benefit from it.”
Now, that’s the best advice that any lottery winner can benefit from. Newfound wealth can lead to disaster. Properly handled, it can and should lead to a happy ending where many can benefit.
Lottery Experience
If you’ve won the lottery or acquired newfound wealth, and want to share your experiences with me anonymously, write to me at forbes@juliejason.com. Likewise, let me know if you need help researching how to set up a family office. I’ll be happy to write a column about how to do that.
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d495694d9617d97bc2aa32c746cb6e47 | https://www.forbes.com/sites/juliejason/2021/02/09/cares-act-rmd-vacation-is-over-whats-the-best-withdrawal-strategy/?sh=3a15897614db | CARES Act RMD Vacation Is Over; What’s The Best Withdrawal Strategy For 2021? | CARES Act RMD Vacation Is Over; What’s The Best Withdrawal Strategy For 2021?
Did you take a break from required minimum distributions (RMDs) in 2020?
Thanks to the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which suspended RMDs for 2020, you did not have to take RMDs from your traditional IRAs (individual retirement accounts) and other tax-deferred accounts last year. (Roth IRAs do not require RMDs during the IRA owner’s lifetime.)
RMD vacation is over getty
RMDs Have Returned
But now it is 2021, and the RMD “vacation” is over. You need to make sure you have a plan in place for your 2021 RMDs, especially if you are turning 72 in 2021 and are new to RMDs.
Before making any RMD decisions, always, always, always be sure to speak with your accountant or tax adviser.
The Importance of 1949
Those who were born in the first half of 1949 (Jan. 1 through June 30) turned 70 1/2 in 2019 and became subject to RMD rules then. If you skipped your 2020 RMD, no problem. But, you cannot skip 2021. The CARES Act RMD suspension was good for only one year, 2020.
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Those born in the second half of 1949 (July 1 through Dec. 31) came under the SECURE Act’s new age 72 rule. Because they turn 72 in the year 2021, they will need to take a 2021 RMD. The SECURE (Setting Every Community Up for Retirement Enhancement) Act was passed in 2019.
A special rule comes into play for anyone taking his or her very first RMD, in this case, those born in the last half of 1949. They have the option of taking two RMDs in 2022 instead of one in 2021 and another in 2022. With their first RMD, they can take it (based on Dec. 31, 2020 values) by Dec. 31, 2021, or they can delay that RMD to the first quarter of 2022 (it has to be taken by April 1, 2022).
However, if they opt for the delay, they will be taking two RMDs in 2022: their 2021 RMD (based on Dec. 31, 2020 values) and their 2022 RMD (based on Dec. 31, 2021 values). Since both withdrawals will take place in 2022, both RMDs will be taxable income for the 2022 tax year. On the other hand, if the 2021 RMD is taken in 2021, the RMD will fall into the 2021 tax year.
Again, don’t try this alone. Consult with your accountant before making any RMD decisions.
Total Versus Monthly?
Should you take your RMD in one lump sum or a little at a time? Reader E.H. asked: “Is there any negative to getting the total RMD in January versus monthly over the course of the year? We don’t ‘need’ the money at any particular time.”
Some tax advisers believe it’s better to take the RMD toward the end of the year to squeeze out as much growth as can be achieved within the tax-deferred environment of an IRA. That works in upwardly moving markets. It also increases the potential for a hefty 50% IRS penalty if the RMD isn’t fully withdrawn during the calendar year.
If the cash is needed for living expenses, it makes sense to take the RMD in monthly chunks. Or, as in E.H.’s case, where the RMD is not used for living expenses, go for a lump-sum RMD later in the year, perhaps in early fall, to avoid a last-minute rush.
So, it comes down to this: The decision is a matter of personal preference.
RMD Resources
When researching RMDs, the official guide is IRS Pub. 590-B, “Distributions from Individual Retirement Arrangements (IRAs).” Here are additional IRS resources for RMDs and IRAs.
Other Questions?
If you have RMD questions, send them to me at forbes@juliejason.com.
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1e81bfbac6ed2741fc397df71ac50c91 | https://www.forbes.com/sites/juliejason/2021/03/29/do-you-have-to-apply-for-the-new-stimulus-payment-what-if-you-are-retired/ | Do You Have To Apply For The New Stimulus Payment? What If You Are Retired? | Do You Have To Apply For The New Stimulus Payment? What If You Are Retired?
You likely need to do very little to receive the latest stimulus payment, provided you are eligible ... [+] for it. getty
New Stimulus Payment
The third round of Economic Impact Payments (EIP3), stimulus money for individuals — even retirees — was authorized as part of the American Rescue Plan Act of 2021 that was signed into law March 11, 2021. Payments are already arriving in bank accounts and mailboxes throughout the U.S.
In order for EIP3 to reach you (if it hasn’t already), the IRS relies on 2019 or 2020 tax returns filed or on benefit records, such as Social Security retirement, survivor or disability benefits, Railroad Retirement benefits, Supplemental Security Income or Veterans Affairs benefits. If you fall into any of these categories, you will receive your EIP3 payment automatically (as long as you are eligible — see below). And, in fact, you may have already seen a payment of $1,400 deposited into your bank account — or more, if you are married or have dependents.
In addition, those who registered for the first EIP (EIP1) using the Non-Filers tool on IRS.com in 2020 do not need to take action.
Notwithstanding, you need to know that as of March 24, approximately 127 million EIP3 payments had been distributed. If you have not received yours, take a moment to check the status of your payment by using the “Get My Payment” tool found on IRS.gov.
Who Needs to Act to Get The Stimulus Payment?
If you don’t fall into any of the categories we just discussed above, you do have to take action. To get your EIP, file a 2020 Form 1040 tax return even if you have no taxable income.
If you want to the tax filing electronically, which I recommend to benefit from efficiency and speed, be sure to read the IRS special instructions. For example, the electronic filing will ask for your 2019 AGI (more on AGI — adjusted gross income — below). What if you did not file a 2019 tax return, or your 2019 return has not been processed yet? Special IRS instructions note that you should enter $0 for your prior year’s AGI. There is also the Recovery Rebate Credit, which I will write about in a subsequent post.
No Social Security Number?
Some people are not able to get Social Security numbers. In order to file their taxes, they obtain an ITIN (Individual Taxpayer Identification Number).
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The IRS issues ITINs to “individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security number (SSN) from the Social Security Administration.”
Does a taxpayer who does not have a Social Security number get an EIP3? In most cases, the answer is “no,” but there are some exceptions.
The American Rescue Plan Act requires a “valid identification number” to qualify for EIP3. The act defines that term as a Social Security number issued by the Social Security Administration.
As for the exceptions, an adopted dependent can use an adopted taxpayer identification number instead of a Social Security number. For those members of the U.S. armed forces who are married, only one spouse needs to have a Social Security number. And if a couple files a joint tax return, a spouse who has a Social Security number will receive a $1,400 (instead of $2,800) payment if the other spouse does not have a Social Security number and is not eligible for a payment.
AGI Caps
Another eligibility factor for an EIP3 payment is related to your AGI. If you are single, your AGI cannot be higher than $80,000, while those who are married filing jointly cannot surpass $160,000. If you are filing as head of household, the cutoff is $120,000. AGI is your gross income less adjustments, such as contributions to retirement accounts. Also see “Definition of Adjusted Gross Income.” Even if your AGI was too high in 2020 to qualify for an EIP3 payment, you might be eligible for rebate credits on your 2021 tax return if your AGI declines this year, points out Wall Street Journal writer, Laura Saunders.
Payment Details
If your EIP is coming to you by mail instead of through direct deposit to your bank account, you will receive a paper check or a prepaid debit card (Economic Impact Payment Card, or EIP Card).
Paper checks will arrive in a white envelope from the U.S. Department of the Treasury. The check (see the image below) will look similar to a tax refund that arrives by mail, but it will have “Economic Impact Payment” in the memo field.
Economic Impact Payment check. IRS
Is This Card Legit?
In this day and age, you never know if a credit/debit card you receive unannounced is legitimate. The envelope will look like this, a white envelope that has a U.S. Department of the Treasury seal:
Economic Impact Payment Card envelope. IRS
The EIP Card inside will look like this:
Economic Impact Payment Card. IRS
The Visa debit card will have the name MetaBank (the issuing bank) on the back.
You’ll need to activate the card before you can use it to make purchases or to receive cash from your bank’s ATM or make a deposit into your bank account. (Instructions can be found in the envelope.) You can check your card balance online, by phone (800-240-8100) or through a mobile app (the Money Network Mobile App, found at the App Store or on Google Play). You can get more information at EIPcard.com.
Rebate Credit
My next post will cover the recovery rebate credit. In the meantime, if you have questions or comments about any retirement/investment topic, send them to me at forbes@juliejason.com. Please indicate that you are a forbes.com reader as well as the state you live in.
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26512cb7fd4dbb1c32eae4115fe61c38 | https://www.forbes.com/sites/juliekoepsell1/2018/07/08/women-in-leadership-isnt-a-zero-sum-game-how-to-lift-up-the-women-on-your-team/?sh=3f7884635126 | How To Lift Up The Women On Your Team | How To Lift Up The Women On Your Team
Pexels Pexels
Empowerment for women in the workforce is in vogue. Hiring women, promoting women, paying women equally and stopping the harassment of women is getting all the right kind of press. Finally. And for that, I am grateful. (Note that grateful does not equal satisfied. We have a long way to go in reaching equal status with men, promoting and encouraging racial diversity and fair pay for all.) While I’m thrilled that we’re celebrating the empowerment of women, we’re ignoring a prevalent practice that can be seen daily in many workplaces. Women putting and keeping other women down.
Did I really just say that? Yes, unfortunately, I did.
Generally speaking, you can find two types of women in leadership roles.
Those who believe that the opportunity for women in leadership is a zero-sum game. In other words, the belief that there is only room for one woman in that boardroom and it’s going to be me.
Then there are women who categorically reject that theory. They believe that all boats rise with the tide and that there is room for many of us at the table.
It’s no surprise that no woman in her right mind would actually admit to the former line of thinking. As a matter of fact, the women who practice this behavior generally work overtime to tell the world how wonderful they are to other women. And yet, in practice, they take every opportunity to keep other women down rather than lift them up. I know this because I have worked for women like this. Having a woman in a more senior role than you put noticeable effort into keeping you down rather than lifting you up is confusing and soul-crushing. As a result of my experiences, I have purposely sought out female leaders in my industry in hopes of finding inspiration, mentoring and support elsewhere. For me, it’s been a more difficult journey than I think it should be. I also know it’s not just me. Once I started talking about this taboo subject, I quickly learned that most people see this behavior happen in their workplace.
My way of combating this is to try to be the kind of female leader that I wish I had as I was coming up. Today I have the great fortune of working alongside other female leaders at my company who operate in the same way. For those women making a purposeful decision to encourage and support the woman on their team, here’s what that looks like in practice.
Create opportunities for her to shine.
Within an organization, particularly one that is large, matrixed or decentralized, it’s important for your super stars to get greater visibility. As a manager, it’s your job to help your team members achieve that. Can she present at a company meeting, attend an important client meeting or participate in an industry event? Can you nominate her for an award? Consider what specific actions you can take to help others see her gifts the way you do.
Remove obstacles so she can be successful.
Removing obstacles is a critical part of being an effective leader. Once you make sure your direct reports understand the vision and what drives success for the company, get out of her way and let her determine the roadmap to getting it done. Be mindful that she will inevitably run into obstacles along the way. Many of them will be internal and as a manager, you will have the ability (and responsibility) to support her and clear her path so she can get the job done.
Encourage her to realize her potential.
As women, we are multi-dimensional and we want to succeed in all aspects of our lives, including at home and in our careers. At work, we are often reticent to try things before we feel we are 100% ready or qualified. We live with Imposter Syndrome. Give the women on your team the encouragement to get out of her comfort zone. Set expectations high because she is capable of achieving them. Create an environment for her to feel safe making decisions, failing, fixing it and moving on.
Find out what’s important to her and help her get it.
Each person’s approach to her career is different and the goals vary by person. For some women, they strive for flexibility. They want the ability to achieve their goals, but don’t necessarily want the expectation that they will be at their desk eight hours a day, five days a week. Other women want a career path. They want to create a plan that includes your help in getting her to the next level. Some women work strictly for the money and are constantly thinking about the next raise. And yet others may be working to create new experiences that will build out their resume. Spend time with her, figure out what drives her, don’t judge her and help her achieve her goals.
Lead by example, not with lip service.
There are so many women today trying to balance their passion for their career, spending time with their kids, caring for their aging parents, traveling, staying fit and various other things. They want to work for a company that respects their desire to do it all. As a manager or company leader, it’s important to always remember that your actions speak much louder than words. Consider this, are you the kind of leader who sets the example of going on vacation and working the entire time? Do you constantly send emails late at night or during the weekend? It doesn’t matter what you tell your employees about respecting their personal time, if you don’t respect yours, they will follow your example not listen to your words.
If you’re reading this and realizing that your leader doesn’t practice any of this, but instead she seems more invested in keeping you where you are and promoting herself internally, that can be a tough pill to swallow. There is no one right answer to address this. First and foremost, talk to her about it and tell her how you’re feeling. Hopefully, she simply isn’t aware she’s doing this and is open to feedback and change.
Most importantly, regardless of how you’re treated and what level you’re currently at, be the person you want others to be. Practice empathy and learn what you can from those around you. Being on the receiving end of someone else’s bad behavior can be a learning experience that can help you grow. In an ideal world, women would see each other as part of a sisterhood, not as competition. Imagine if we all supported one another, picked each other up when we fall down, celebrated each other’s successes and encouraged each other to achieve what we’re capable of doing and being. We’d all be unstoppable.
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ad05ac56349ee2889f0eddcb6f4981fb | https://www.forbes.com/sites/julieloffredi/2018/11/01/whiten-teeth-at-home-with-these-products/?sh=73d0d3381a38 | Whiten Teeth At Home With These Products | Whiten Teeth At Home With These Products
Want whiter teeth without visiting the dentist chair? There are plenty of over-the-counter solutions for brightening teeth. Here are some featured items on Amazon and Sephora right now. Of course, before trying any teeth whitening methods, consult your dentist.
Electric Toothbrush
Philips Sonicare DiamondClean Philips Sonicare DiamondClean
Philips Sonicare DiamondClean, $181 and up, Amazon
"We can’t say it enough — invest in an electric toothbrush! Electric toothbrushes can remove up to five times the amount of staining than a normal manual toothbrush. Know that not all electric toothbrushes are created equal. My favorite option is the Sonicare DiamondClean," says Dr. Suhail Mohiuddin, dentist and co-founder of Dentologie and SmileCycle.
Mohiuddin also recommends flossing, "A lot of staining exists in between your teeth and only flossing can reach those areas."
Gel and LED light tray
Mobile White Mobile White
Mobile White, $80, Amazon
Mobile White is a 20-minute teeth whitening kit to be used in the comforts of your own home. The kit comes with whitening gel and LED light trays that are powered by your smartphone. Cosmetic Dentist Dr. Bill Dorfman in-office whitening is fast and effective, but not everyone has the time or money to do it.
"Mobile White has proven to have great results in the at-home whitening category – it’s effective for initial whitening or even to prolong the results following an in-office treatment,” said Dorfman.
White Strips
Crest 3D White Strips Crest
Crest 3D White Strips, $33 and up, Amazon
Place these thin strips right on your teeth for 30 minutes a day. Peel off, and notice brighter teeth. Then, use new Crest Gum & Enamel Repair Advanced Whitening toothpaste for daily brushing.
Oil Pullers
Kopari Coco Oil Pullers Kopari Coco Oil Pullers
Kopari Coco Oil Pullers, $28, Sephora
Coconut oil lovers say this product can leave your mouth extra clean — and brighter. Just swish and spit for a few minutes a day. And, if you like coconut oil products, check out Lumineux Whitening Kit designed to whiten teeth without bleaching products. A one-month supply is $45.
Charcoal Powder
Active Wow Teeth Whitening Charcoal Powder Natural Active Wow
Active Wow Teeth Whitening Charcoal Powder Natural, $20, Amazon and also at Target
While the controversial idea of putting charcoal on your teeth to make them appear whiter sounds counterintuitive, many Amazon users claim this product does the job.
Resources:
American Dental Association official statement on oil pulling.
Journal of the American Dental Association article on charcoal powder.
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a060327d0073fa4b11b67719e9df0a61 | https://www.forbes.com/sites/julieloffredi/2019/06/05/trending-ladies-footwear-for-spring-2019/ | Trending Ladies Footwear For Spring 2019 | Trending Ladies Footwear For Spring 2019
Rothy's Spring Rothy's Spring
Toss those wool scarfs and mittens! It's finally time to shorten the hemline and give those knee-high boots a rest. And, this spring, there is plenty of reason to flaunt your toes and flex your feet. That's because there's a plethora of new trend-worthy sandals, shoes, and sneakers that are sure to make you feel spring-ready. Here are some of the hottest styles and prints now available from a few of our favorite footwear brands:
Animal Prints
Maritime Tiger Rothy's
If you thought animal prints were just for cooler months, think again. This spring, shoe designers are working hard to get their favorite cheetah, zebra, and leopards on our feet — and we couldn't be happier. This pair of Maritime Tiger slip-on sneaks from Rothy's can easily transition from work to the playground. And, if they get a little muddy, just toss them in the washing machine for a good rinse! — Maritime Tiger, $125, Rothy's
Satin Slides
Loose Luxe FitFlop
This season, expect plenty of shimmer and shine from brands, like FitFlop. In fact, this blue satin slide is one of our favorites. The style comes in four different colors, including sky blue, black, gold, and nude. Bonus? These flops are made to be extra comfy with super-cushioned midsoles. — Satin Cross Slides, $225, FitFlop
Classic Leather
The Wayfarer Chaco
Classic leather abounds! Expect plenty of gorgeous leather strappy sandals this season. And, for those who love Chaco’s classic Z, you are in luck. The shoe manufacturer is now offering it in leather. The Wayfarer is ideal for travelers seeking all day comfort or for those who want to just unwind at home. Pair it will a long flowy skirt for a great-looking spring ensemble. — The Wayfarer, $130, Chaco
Pikolinos Orvis
These leather sands from Orvis are too cute not to include. The Vallarta Mary Jane shoes have the look of a classic sandal combined with old-world craftsmanship. The hook-and-loop fastener makes these easy to adjust. And, rubber soles give feet some extra cushion when strolling around town. — Pikolinos, $160, Orvis
Need a dress to match? Pair sandals with this pack-and-go long sleeve travel dress.
Seafoam Green
The Orli Dansko
Why bother with white when there are so many gorgeous colors to choose from this spring? Footwear brands are springing for aqua, pale pinks, light and purples and everything in between. Dansko just released some trend-worthy additions to their casual sneaker collection. Check out this fun Orli sneaker. It comes with perforated leather and an odor control treated sock linings. Bonus? Two laces are included for different looks. — The Orli Aqua, $130, Dansko
Travel-Friendly Flats
Plae Shoe Plae
Cute and versatile, these new Plae packables an easily compress flat and be stored in a travel bag. The Crosby ballerina-style shoe comes in five different styles. We are partial to the "nucleus blue chill" print, seen above. — Crosby, $79.95, Plae
Cork Slides
Artemis Sarah Flint
Cork soles remain a winner this season. These gorgeous handcrafted flat slides from Sarah Flint are designed with a scalloped band and can be easily paired with a long skirt or cropped pants. Black, cognac, and orchid colors available. — Artemis Orchid Crosta Suede, $245, Sarah Flint
Breathable Sneaks
The Kinvara 10 Saucony
Lightweight and breathable sneakers aren't new to the game, but the technology continues to make strides. For those warm nights, these comfortable and super light running shoe from Saucony will make you focus on the road ahead. The Kinvara style is back with a vengeance in 2019, this time with newly engineered support to make your next sprint unstoppable. — The Kinvara 10, $110, Saucony Also, check out Brooks Launch 6 Running Shoe ($100): Brooks Brooks And, if you love Koolaburra by Ugg for your winter boots, you are in luck. The brand just unveiled a new collection of casual sidewalk sneaks for everyday use. The women's Penley (see below) runs $65. Koolaburra Koolaburra Basic Flips Flip flop Eddie Bauer
A basic flip flop is a must for warmer months! Eddie Bauer offers flip flops in both sueded-leather and synthetic straps. The synthetic flops come in five attractive colors — white, black, chinaberry, watermelon, and river blue. Simple and durable for use all-season. — Break Point Flip Flop, $35, Eddie Bauer
Metallic Wedge
Kelly Wedge Bernardo
Metallics are still all the rage in 2019. These gorgeous strappy wedge sandals from Bernardo are one of our top picks for those seeking some extra style in their step this season. In addition to the gold, the wedge also comes in brown and black leather. — Kelly, $185, Bernardo
Sport Sandal
Ryka Aloha Ryka Aloha
For those seeking ultimate comfort, Ryka proves that sport sandals can also be fashionable. This Aloha sandal comes in four different colors and prints. Our pick? The black multi! — Aloha Sandal, $65 (on sale $60), Ryka Have a shoe that should make the list? E-mail wegotnews@gmail.com.
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b84e6c736662c37026204f25219e4ef4 | https://www.forbes.com/sites/juliemyerswood/2021/03/08/is-a-lax-virtual-currency-compliance-program-putting-your-business-at-risk/?sh=686354afe3db | Is A Lax Virtual Currency Compliance Program Putting Your Business At Risk? | Is A Lax Virtual Currency Compliance Program Putting Your Business At Risk?
Shoring up your virtual compliance program is crucial to staying on the right side of law ... [+] enforcement and regulators. getty
Convertible Virtual Currencies (“CVCs” or “virtual currencies”), which include digital currencies like Bitcoin, continue to pose emerging money laundering and sanctions compliance risks. CVCs are non-fiat currencies with real-world value that are secured and transmitted electronically. Many virtual currencies utilize cryptography to validate and secure transactions that are digitally recorded on a distributed ledger – hence the nomenclature “cryptocurrency.”
Law enforcement agencies are concerned with virtual currencies because CVCs have been used to facilitate financial crimes ranging from fraud and ransomware campaigns to exploiting underage persons, sanctions evasion, and terrorist financing. Regulatory bodies are also troubled about the financial institutions they regulate and whether those institutions have sufficiently mitigated financial crime risks associated with virtual currencies. While the amount of illicit activity cannot be definitively identified, the Financial Crimes Enforcement Network within the U.S. Department of Treasury (“FinCEN”) estimates that illicit activities account for 10% of all CVC transactions – a draconian (and likely) overestimate. Conversely, the blockchain analytics company Chainalysis estimates that approximately $11 billion in CVC transactions, or only 1% of all cryptocurrency transactions in 2019, supported illicit activities.
Of course, not all transactions present the same level of sanctions and money laundering risk. For example, funds gained from “mining” currency by providing the computing power to encrypt blockchains are often viewed as more benign. In many instances, it can be demonstrated that the gain was from lawful activities. Alternately, foreign terrorist organizations may solicit funds anonymously using virtual currencies, domestic terrorists may use virtual currencies to raise money for their activities, or virtual currency exchanges may assist Iranians in moving funds from Iran elsewhere to pay for goods and services – actions generally prohibited by U.S. sanctions.
Government Taking Action on Mixers
Three recent enforcement actions highlight the U.S. government’s increased interest in pursuing virtual currency businesses that violate money laundering and terrorism criminal laws, as well as applicable anti-money laundering (“AML”) and sanctions regulations. These cases also define how regulators and law enforcement authorities are developing a better knowledge of the industry, as well as the tactics and technology to successfully pursue CVC-related enforcement actions.
In February 2020, the U.S. Department of Justice (“DOJ”) indicted Larry Harmon and his company, Helix. Helix was a “mixer” that allowed customers to send virtual currency to another party anonymously by “mixing” the original customer’s bitcoins – in the case of Helix, those involving illicit narcotics proceeds and other criminal profits – with ones that appear clean and have never been traded with accounts associated with the darknet or other criminal activities.
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As a mixer, Helix operated in two different ways. First, a user could send bitcoin to a wallet held by the darknet site Grams, which was used by actors to search darknet markets for illicit goods and services. Helix would then send clean bitcoins to the user from a different wallet – essentially layering virtual currency funds. Alternately, the user could simply send the funds to a wallet designated by Helix, and then Helix sent the clean funds to the user.
This is a complex investigation. Not only does it reaffirm the DOJ’s commitment to combat the illicit use of virtual currencies, but it also demonstrates that the U.S. government has improved its tools to track and account for the trade-in cryptocurrencies.
Several lessons can be drawn from this indictment and the accompanying FinCEN penalty:
· Money transmitters, such as cryptocurrency exchanges and persons accepting and transmitting virtual currency, are required to maintain an AML compliance program under the Bank Secrecy Act ("BSA"). So not only was Harmon criminally indicted, but he was also assessed a $60M penalty by FinCEN for failing to register Helix as a money services business (“MSB”) and failing to report on suspicious transactions through the filing of suspicious activity reports when it had an obligation to do so. While Harmon’s conduct was egregious enough to warrant indictment, this case should also serve as a warning that FinCEN has the tools and willpower to fine persons and companies who do not comply with their regulations.
· Although mixers can be utilized for privacy or legitimate reasons, law enforcement agencies often view them as tools designed to assist in money laundering or anonymous access to illicit markets. In the Helix announcement, the DOJ almost went as far as to call CVC mixing a crime. As such, persons providing virtual currency-related services, such as exchanges, should always factor in the use of a mixer into the risk associated with a particular customer, including establishing a trigger for the performance of Enhanced Due Diligence;
· Money transmitters should develop transaction monitoring practices that identify mixer-related transactions and should use the presence of mixers as possible indicia of suspicion when considering whether to file a SAR;
· The U.S. government has demonstrated the ability to track several thousand transactions conducted by Helix, including identifying the darknet markets for which the bitcoin were used. This extra detail suggests that DOJ and FinCEN are employing specialized tools to analyze the Bitcoin ledger and will likely use these tools in future cases. This differs from previous cases, where indictments relied on public information such as published ransomware addresses, the DOJ, and FinCEN’s indictment and penalty against BTC-e.
Virtual Currency Services in the Crosshairs
Next, the Office of Foreign Assets Control (“OFAC”) ended 2020 with its first ever enforcement action relating to virtual currency services. The agency penalized BitGo, a provider of virtual currency wallet technology, leading BitGo to pay a settlement fine of $98,830 for processing 183 transactions on behalf of parties in Iran, Syria, Sudan (within the statute of limitations), Cuba, and the Crimean region of Ukraine. These countries and regions were subject to comprehensive sanctions at the time of the transactions.
This settlement, while small in value for OFAC, signals the agency’s interest in proceeding with enforcement actions against virtual currency-related businesses when they violate U.S. sanctions regulations. OFAC uses penalties to signal its interests in an industry, as well as the agency’s compliance expectations. Reviewing this penalty provides a roadmap of OFAC’s interpretations and focus.
First, OFAC emphasized that a firm does not need to maintain custody of virtual currencies to incur sanctions-related liability. Unlike BSA/AML regulations, which apply to financial institutions and money transmitters, sanctions regulations apply to all U.S. persons including persons who provide services like BitGo that simply facilitate transactions on behalf of non-custodial wallets. These organizations should therefore maintain adequate sanctions compliance programs.
OFAC also highlighted the importance of being able to screen IP addresses for references to sanctioned countries. This also underscores the fact that financial crime compliance departments should be able to coordinate with other parts of the compliance and security departments. In this case, the same cybersecurity tools which monitor against IP addresses can be used to blacklist and report on ISPs and CIDRs located in a sanctioned country.
Following the BitGo announcement, OFAC announced a settlement with another digital currency firm called BitPay, Inc. on February 18, 2021. BitPay is a payment processing company that offers its solution to merchants for purposes of accepting digital currency as payment for goods and services. Like BitGo, BitPay’s settlement related to BitPay allowing persons located in Cuba, North Korea, Iran, and other sanctioned countries or regions to transact with merchants in the United States between 2013 and 2018. Further, OFAC states that BitPay had actually obtained certain location information—including but not limited to IP addresses—for those persons prior to effecting the transaction but failed to analyze and screen this information. Unlike the BitGo case, BitPay had a much higher number of violations (over 2,000 versus less than 200) and a higher civil penalty (over $500,000 versus less than $100,000).
The actions taken against BitGo and BitPay demonstrate that OFAC is likely to increase its enforcement activities going forward. OFAC investigated BitGo and BitPay using methods with which the agency is comfortable. More specifically, OFAC has previously focused on – both publicly and privately – actors who access goods or services using IP addresses in sanctioned countries.
OFAC is also likely already improving its methodology with respect to virtual currency actions. As we saw with the DOJ investigation of Helix, the U.S. government is growing more sophisticated in tracing the direction and use of virtual currencies. OFAC’s investigations are usually the culmination of years of work and litigation, so we may expect to see more virtual currency cases pop up that evidence new techniques.
What’s Next for Enforcement?
What does this mean for participants in the virtual currency market? Law enforcement and regulatory agencies are likely to only increase their focus around virtual currencies in the coming months and years. At least with respect to pursuing enforcement actions and criminal prosecutions, there is a concerted investment in and reliance on technology used to analyze the blockchain. Regulatory compliance expectations, such as those around tracking IP addresses associated with customers or the triggers for having to seek an MSB license, will also continue to coalesce through the issuance of FAQs, final rules, and assessed penalties. To avoid being targeted as part of the increased enforcement, it is important to devote a critical eye to the review of compliance policies, the manner in which a risk assessment is conducted, and the steps taken to mitigate identified risks. Testing the implementation of AML and sanctions controls may save your business from serious monetary and reputational harm.
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fb02a06b9e9977e587bda104c025e78d | https://www.forbes.com/sites/juliepham/2013/03/27/london-based-startup-3d-industri-es-aims-to-become-the-google-of-3d-search/ | London-Based Startup 3D Industri.es Aims To Become The Google Of 3D Search | London-Based Startup 3D Industri.es Aims To Become The Google Of 3D Search
Halfway between the Chinese factories and Silicon Valley tech giants, right in the heart of London’s emerging tech scene, is a startup that aims to revolutionize both manufacturing and internet search.3D Industri.es (3DI) commercializes advanced 3D search technology, creating applications based on its geometric shape-based 3D search engine. Its first product, 3Dpartsource.com, a visual component-sourcing platform for industry, has the potential to disrupt the age-old sourcing process for parts in the manufacturing supply chain.
Conventionally, when a user types words into a typical text-based search engine (e.g., Google), a list of possible associated links appear based on the keywords used. In manufacturing, there is not always a universal naming and numbering system and so part sourcing on the web can often be like searching for the proverbial needle in a haystack. 3D search transforms this experience.
3DI connects buyers and suppliers of industrial components through its 3D search engine. With 3DI, an industrial designer looking to source components can upload a 3D design into the 3D search engine which immediately returns a list of matching suppliers worldwide. The 3D printing boom, among other trends, is leading to an explosion in the demand and supply of 3D models and data on the web.
“What Google did for words and text on the web, we aim to do for shapes and 3D models,” said Dr. Seena Rejal, the founder and CEO of 3DI. “We are ordering the 3D world.”
Democratizing manufacturing
Andy Sandford, a a key organizer of SubCon, the UK’s leading manufacturing expo, said 3DI “has the potential to have a massive disruptive impact on the way manufacturers source their components.”
“In the past, a buyer would either leaf through catalogs or sit down with a number of suppliers and say, ‘I want something like this’; they would either see exactly what they wanted, or the supplier would discuss with them the possible alternatives, or offer a tailored version of a standard product,” said Sandford.
“The ones who benefit in conventional sourcing are the middle men; the brokers who have tacit knowledge of, and contact with, parts manufacturers and suppliers,” said Rejal. The traditional dependency on catalogs and brokers makes it very costly for small and medium sized suppliers to compete.
John Vicklund heads Impact Washington, a non-profit that provides technical assistance to, and advocates on behalf of, small manufacturers. Vicklund said, “managing marketing and supply chain costs is a real but necessary pain point for many manufacturers. Anything that makes it easier for suppliers to share their designs will save time and money.”
3DI will make it possible for small and medium sized suppliers and 3D designers to get exposure and access to a global customer-base. Vicklund said in the US, only two percent of manufacturers have more than 500 employees and almost half have ten or fewer employees.
“There are many thousands of designers and manufacturers – be they workshops or factories – worldwide that simply don’t get a chance in the marketplace,” said Rejal. “Automated 3D shape-matching will create value in the ‘long tail’ of manufacturing and design in the same way that Amazon, eBay and Google transformed the ‘long tail’ of retail.”
With 3DI, manufacturers upload their databases of 3D models - corresponding to the components they manufacture – to the “cloud.” They also have a choice of premium subscription packages that will allow them to integrate an exclusive version of the search engine on their own site.
3D model-based internet search also eliminates linguistic barriers in the market as it relies on visual data rather than words. Rejal added, “Just as, say, non-Chinese customers desperately seek the right supplier, many Chinese factories are also keen to connect better with customers elsewhere. They contact us to help them do so.”
B2B and B2C, with 3D Printing
Originally, 3DI was intended to serve a B2B market. With low-cost 3D scanners on the horizon, the world of instant 3D data capture and upload will soon be widely available. Even Microsoft recently announced software releases for the popular Kinect devise to allow the console to be used for 3D scanning. 3DI now has plans to enable retail consumers to tap into the 3DI search engine.
Unlike text-based search, 3D searchers will always be able to find a way to get exactly what they are looking for, because they can have the option to 3D print what they are seeking. Rejal said 3DI is in the process of partnering with major 3D printing houses to close the fulfillment loop. 3DI sees 3D printing (or ‘additive manufacturing’ and ‘digital fabrication’ as it is also referred to) as a complement to current supply chain sourcing. 3D printing is still a final resort in industry as it can be much more costly than finding ready suppliers with mass-manufactured stocks.
Duann Scott, an evangelist for Shapeways, a major 3D printing house, said that a search engine that organizes the 3D is an important step in the evolution of the 3D printing ecosystem.
“We live on Google,” said Scott. “3D Industri.es could do the same thing for 3D parts. The big challenge will be user adoption.”
Scott saw how at Shapeways, engineers and designers were the early adopters, but a huge increase in the consumer segment quickly followed. He predicts the same for 3DI.
Manufacturing researcher-cum-entrepreneur
3DI is the brain child of Seena Rejal, a Cambridge-trained, London-born Iranian.
In 2001, Rejal and I met at a Christmas dinner at Cambridge University. We were both first-year PhD students. He had the charisma and charm more akin to a CEO than the researcher of manufacturing that he was.
We would often meet for tea and he would tell me about Cambridge University Entrepreneurs – The University of Cambridge Business Creation Competition. He was one of the early leaders of student entrepreneurship activities, leading and shaping the student business plan competition.
Rejal studied under Professor Sir Mike Gregory, a renowned evangelist for UK manufacturing and key government policy advisor. After completing his PhD, in 2006, Rejal went to Silicon Valley to find the next big thing. Instead, he discovered a multitude of social network and game companies, none of which captured his imagination. So he decided to return home.
At the airport, he picked up a copy of Fast Company and read how a US-based company, MFG.com, was creating the world’s largest online manufacturing marketplace. Rejal found his way to MFG.com’s founder, Mitch Free, and worked with him to evangelize MFG.com.
Rejal eventually moved back into the clean energy industry for a few years, heading technology for the Clinton Climate Initiative (part of the US-based Clinton Foundation).
The birth of 3D Industri.es
Rejal continued to follow manufacturing. He observed how the web-based solutions in industrial sourcing still relied on humans to make the visual match between customer requests and supplier parts. With the rich 3D CAD data available in the manufacturing space, he believed a more efficient way existed to make this match. “Surely 3D shape is a universal language? What if I could search with just shape and in 3D?” he asked.
He began investigating 3D search technologies and undertook a global search of leaders in the field, whittling his list down to a handful of experts from Ivy League universities in the US as well as top research institutes in the UK, Europe, and beyond. Rejal persuaded them to come to London to meet and to tour a manufacturing expo with him to see if they ”got it.” One of Rejal’s most trusted advisors, his father, Dr. Ali Rejal, would come along to meetings to vet the potential partners.
Because of stiff competition for top coding talent in London, 3DI founder and CEO Dr. Seena Rejal... [+] started wearing his advertising. “My strategy was to put my requirements down on my shirt, and walk around with it. I became well known in tech circles for the ‘HR shirt’! It worked though!” (photo provided by 3D Industri.es).
An internationally-based technical team was forged with those whom the senior Rejal approved as being “straight up and with complementary character.” Early prototypes were built and the company officially started in September 2009. Today, the 3DIteam also boasts a diverse selection of passionate and talented developers, designers and evangelists. Nicholas O’Donnell-Hoare, the chief designer, is known for his 3D printed jewelry work which has adorned women in recent Hollywood blockbusters.
British by nature and nurture
The Industrial Revolution started in Britain nearly 2.5 centuries ago. It may get reinvented there as well by the growing number of homegrown B2B tech startups.
“London is well-known as a financial services and corporate hub. As a result, many of the success stories about tech startups there tend to be more B2B than B2C focused,” said Matthew Stafford, a partner at Student Upstarts, a tech startup accelerator that invests in students to start their own businesses, and a co-founder of Collider12, a B2B focused accelerator.
3D Industries gave their first public pitch at ‘Minibar’ London in August 2011. 3DI founder and CEO Dr. Seena Rejal said, “The overwhelmingly positive feedback from the tech community galvanized us into quitting our jobs and completing the fundraising” (photo provided by 3D Industri.es).
Stafford and Katie Lewis, London tech networkers, founded 9others to connect mostly tech entrepreneurs over ten-person dinners based on the principle, “your success requires the aid of others.” In December 2011, Rejal went to the inaugural “a good meal with 9others.”
“Brits are much more conservative and modest about their achievements. They are afraid of being exposed, so they undersell themselves a lot,” said Stafford. “When we met Seena, he was like that. He wasn’t telling many people about it. I encouraged him to get out there, so people could get used to the idea. It’s a tipping point of confidence: once you start talking about it, there’s a real attitude shift, and that’s when you start attracting tech talent and investment because it shows how serious you are.”
London has fewer VCs and angel investors than American tech hubs. To encourage growth, the British government provides big tax incentives to private funders as well as direct funding to startups.
3DI’s first investment came from the British Government and an angel investor. The nearly £200,000 ($350,000) gave Rejal the confidence to leave his day job at the Clinton Foundation.
The launch…and the pivot
A few months after that 9others dinner, in March 2012, the spending and product building began in earnest. Rejal pushed for an official beta release of their first product, 3Dpartsource.com, to coincide with the opening of the Olympics in London that July. 3DI’s small, passionate team of technologists, developers and designers worked in regular beats of pizza-fueled, all-night hackathons.
From his early trade floor conversations with numerous manufacturers, Rejal had found a desire in the industry to adopt a more precise, efficient supply sourcing system. Prior to launch, the company gathered 400 manufacturers worldwide in the database for 3Dpartsource.com. On launch day, 3DI emailed these manufacturers with an announcement, “welcome to the revolution.”
There were only a handful of responses. After the fading of the initial disappointment came the realization that even revolutions take time to build.
At a hackathon at 3D Industri.es, Dr. Yousef Tabatabaei (second from left), a physicist at Imperial... [+] College, and Dr. Sophia Khan (far left), a former NASA Astrophysicist, help the team brainstorm. The stacks of boxes belong to the architects with whom 3D Industri.es shares its space (photo provided by 3D Industri.es).
Then came the pivot.
The spark came from nearby. 3DI was sharing office space with PDG Associates, an architecture firm. When Rejal showed them what 3DI could do, the architects asked for the technology for their own industry.
“If you see their eyes sparkle, you know they’re in,” said Rejal.
Within a few weeks, 3DI had created a plan for a new infrastructure that paved the pathway to a “more universal and ubiquitous strategy.” With the manufacturing site in place, 3DI has begun to develop for other sectors - including architecture, jewelry, furniture, medical applications, scientific research, online gaming, robotics and automotive parts.
Rejal said, “While manufacturers were acquainting themselves with 3D part sourcing, we could embrace the rapidly emerging opportunities that were becoming apparent in other sectors. There are hungry early adopters, and whole new application areas for 3D search, across numerous fields.”
The realization 3DI needed to do a better job educating potential users led to the creation of Future Manufacturing Forum (FMF).
What’s Next for 3DI?
Aside from educating users on 3D searching, 3D cataloging and open sharing of 3D models, Rejal said an unexpected challenge has been finding locally-based technical talent at reasonable prices because of the influx of large American tech companies into London’s internet scene, including Google, Amazon and Facebook.
But the opportunities still outnumber the challenges.
3DI has just secured their second round of funding from the British government and angel investors.
JF Brandon, a 3D evangelist best known for helping create the Rygo, the largest 3D print in North America, joined 3DI as a consultant last month. He expects 3DI will lead to more innovation.
“More and more people are uploading their 3D models and renders online. It’s fostering a movement towards open-engineering and open-source designing, but we're reaching limits to what people are comfortable sharing,” said Brandon.
With more 3D content created online, the curation and management of open online databases becomes more onerous for these database owners. Ease of data access becomes increasingly challenging, while the growth of the user base beyond the early-adopter hobbyists and “makers” brings the issues around authoring and citation rights and intellectual property authentication to the fore. These issues create a greater need for 3DI’s solutions.
Rejal said 3DI is now being courted by a range of database owners and online communities of 3D data for solutions to such issues with its proprietary technology. Brandon pointed out that 3DI will not act to police copyright violations and users will still be ultimately responsible.
“Alongside simpler and more accurate sourcing of 3D data, we aim to make 3D databases ‘smart’, enabling improved authentication of 3D content. This will enhance confidence in online 3D content sharing and collaboration, driving more professional engagement and, underpinning the expansion and growth of the 3D industry, and the transition to mainstream mass adoption,” said Rejal.
In other words, 3DI will organize the 3D world.
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9f58500a70c8e10c48b384a65d26e1b0 | https://www.forbes.com/sites/juliepham/2014/01/07/yoga-powerhouse-laughing-lotus-wants-to-grow-its-business-i-e-scale-the-party/ | Laughing Lotus Yoga Centers Want To Spread Its Lotus Flow | Laughing Lotus Yoga Centers Want To Spread Its Lotus Flow
Thousands of yogis released a resounding ‘ommmmm’ as they sat on yoga mats just inches apart from one another in the middle of New York’s Time Square as the sun set. World renowned yogi Dana Flynn guided their practice that solstice evening. To be invited to lead such a public yoga session reflects Flynn’s influence in the yoga world. People want to feel Flynn, leaving her with the challenge of how to scale her Laughing Lotus Yoga Centers and Lotus Flow style of vinyasa yoga without requiring her to actually be there.
Laughing Lotus (LL) Yoga Centers are bi-coastal, in New York and in San Francisco. Flynn flies around the world to teach. What has helped Flynn attract an international following is her ability to create a party-like sense of fun and freedom in her practice. Now her challenge is to scale her party to a point where she doesn’t need to be physically present for people to get the experience of LL.
Behind its mystical exterior, yoga is a booming $10.4 billion a year industry, which includes yoga centers, retreats, clothing, and all things related to the yoga lifestyle. An estimated 20 million Americans practice yoga. According to Yoga Journal’s regular bi-annual surveys, the number continues to grow.
Like any other entrepreneurs, Flynn wants to maximize growth opportunities for her business in this industry.
The ‘Janis Joplin’ of the Yoga World
Dana Trixie Flynn has been called the “Janis Joplin” of the yoga world.
This rock n’ roller yogi also has some serious business chops. After graduating from Cornell, Flynn became a Smith Barney stock broker on Wall Street and set records for her class. Just before Wall Street crashed in 1987, she left her job and bought a Greek luncheonette in Hell’s Kitchen. With no entrepreneurial experience, the then 25 year old made “Trixies” one of the most famed restaurants of the 1980s. Each night after clearing away the dining tables, celebrities and regulars came together for a dance party. Her party-girl persona even landed her a role with MTV as one of its “veejays” and she spent years interviewing rock stars.
Laughing Lotus co-founders and Lotus Flow co-creators Jasmine Tarkeshi (left) and Dana Flynn (right)... [+] in one of Laughing Lotus yoga rooms (photo by Amy Kayln Sims).
But Flynn said after running Trixies for five years, she realized she was changing and the “restaurant no longer served me.” She discovered yoga when it was still relatively new to New York and she pursued it further.
Flynn shared in a reflective essay, “It was surprising for me to find yoga, yet all the ingredients were always there - my love for music, movement and friends. This was my opportunity for awakening.”
Not before long, Flynn went from student to teacher, then business owner and yoga star. Now Flynn even teaches others on how to get into the business of yoga.
The birth of Laughing Lotus and Lotus Flow
“What is laughter? Laughter is the glorious sound of a soul waking up” is the quote that inspired the name, “Laughing Lotus.” The lotus is a timeless symbol of awakening and transformation.
“Laughter, joy, and celebration” constitutes LL’s signature style of vinyasa yoga, Lotus Flow, which is spread by the teachers trained at LL when they leave for their own studios.
I was introduced to Flynn by one of my own mentors, Christine Chen, an Emmy-winning broadcast journalist turned New York-based wellness author/writer/yoga instructor who apprenticed with Flynn and now teaches fundamentals of Lotus Flow at LL.
Whenever I visit New York, I take one of Chen’s yoga classes. I could see a marked difference in her style after she had started apprenticing with Flynn. I understood what Chen meant when she described Lotus Flow as “a beautiful mash up of playful and physically interesting sequences, musical healing, celebration, and deep devotion.”
Dana Flynn and Jasmine Tarkeshi opened the original Laughing Lotus above the jazz club in Greenwich... [+] Village in 1999.
Flynn and her Lotus Flow co-creator and LL co-founder, Jasmine Tarkeshi, started teaching a community class together on a rooftop playground in New York in 1997.
Two years later, they decided to open the first official Laughing Lotus Yoga Center. They rented a 600-square-foot space above a jazz club in Greenwich Village. “By the end of the year, after paying all the bills, I think we made $5 each,” recounted Flynn.
The classes became so popular, they realized they needed to expand. With $300,000 borrowed from their parents, they built out a 4000 square foot studio in Chelsea. They washed and painted murals on the wall. It was much grander than anything they had ever had. And they waited. And waited. No one came.
“We had to start from scratch. It was really humbling. It's hard to be creative when you're nervous about having to pay rent,” said Flynn. So she did what she knew how to do best: throw a party.
“No one was doing that at the time,” she said. She tapped into the community around her and created a new one. She threw potlucks and parties to raise money for community causes, such as a student who was recovering from cancer. Slowly, people started coming.
LL has now two branches, one in New York and the other in San Francisco; Flynn runs the East and Tarkeshi the West. They share the same branding and have a partnership but they operate financially as separate businesses. According to Flynn, LL New York drew 70,000 people in 2012. Last year, over 80,000 came through its doors.
Despite the increasing popularity of yoga, Alison West pointed out, “Most studios just scrape by.” West is the Executive Director of Yoga for New York, which aims to grow and promote the yoga industry in New York.
West said there are over hundreds of yoga studios in New York. Yoga classes can be roughly put into three categories: 1) big, corporate managed gyms or yoga centers 2) small one-roomed studios and 3) large yoga centers led by well-known yogis (like Laughing Lotus and West’s own Yoga Union).
To succeed in business, yoga studios like LL have gotten creative in extending their services beyond yoga classes.
Kenny Frisby as a student in teacher training at Laughing Lotus. He is now a teacher at the yoga... [+] center (photo by Lem Lattimer)
How to grow the business (i.e., scale the party)
Three years ago, LL expanded and remodeled to include space for dance and music, a glitter bar, and even walls with the names of deities inscribed in graffiti. Profits generated from events held at the yoga center now make up 15% of LL New York’s income. Moreover, the events draw people back to the center, even after they have graduated from their teacher training programs.
Like other small businesses, LL has reached a crossroad in determining what’s next. LL can expand horizontally with more studios or vertically, with new lines of business in the yoga industry. Because of the rising real estate costs, the next frontier for studios in New York is Brooklyn. Flynn said she tried to expand there but hasn’t found the right place yet.
To remain an industry leader, even with a 5000-year old tradition like yoga, you must constantly be innovating.
Three months ago, LL started to experiment with selling access to online yoga classes as a way to make LL yoga accessible to those are sick, out-of-town, or who cannot afford the studio classes ($20/class). Now there are nearly 100 subscribers who hail from all over the world, including from England, Australia, Germany, and even India. They want to grow the number of subscribers.
Like many other small businesses, they are bumping against glitches as they leverage technology to grow.
“Vimeo has been down this week,” sighed Leo Rising, LL’s Cosmic Personality (a.k.a, the operations manager). “There have been some unhappy yogis out there.”
Eventually, LL plans to create an online teachers’ certification series. Flynn said they don’t have specific growth targets yet for the online classes, but “I feel real confident it’s popular and we’re making more friends worldwide through this vehicle.”
The colorful lobby of Laughing Lotus New York with a Karmi (front desk greeter).
To expand LL beyond New York and San Francisco, Flynn has considered licensing the Laughing Lotus name to those yoga centers committed to teaching Lotus Flow yoga with the expectation their teachers would come to the LL headquarters to learn. “I need a partner to take it to the next step,” said Flynn.
Of creating Lotus Flow, Flynn said, “It took me years to learn how to move like myself.”
After 25 years of teaching, Flynn is still trying to figure out the best way to build her yoga empire by letting it flow.
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07681393842baba5685d16c6c19ef50f | https://www.forbes.com/sites/julieruvolo/2011/07/18/to-the-entrepreneurially-minded-women-of-the-class-of-2011-new-york-welcomes-you/ | The Rise of Hookup Mentorship Among New York's Lady Digerati | The Rise of Hookup Mentorship Among New York's Lady Digerati
Nothing against Silicon Valley, but New York is officially where it’s at for aspiring women in digital.
Women run digital in New York. Mayor Bloomberg appointed Rachel Sterne as the city's first Chief Digital Officer, and Jessica Lawrence was named the first Managing Director of the 18,000-member strong New York Tech Meetup.
Despite a fundraising environment that may never return to pre-2008 glory, it’s a golden time for women in media. There’s never been a better time to be a female entrepreneur. Stilettos are invading startups. Stanford is planning a campus out here, it’s that hot.
And, we have Foursquare.
Hotter than Foursquare? Gilt Groupe, which pushes half a billion dollars a year in revenue. And contrary to the Google vs Facebook passive aggression we've seen in the Valley, Gilt’s generosity has only grown with their success.
Gilt has mentored fashion startups from RentTheRunway to Birchbox. Women in digital know co-founders Alexis and Alexandra as two of the nicest executives in the industry, and few have done as much as Gilt Chair Susan Lyne to promote mentorship.
The ladies of Gilt are part of a sprawling network of women in digital who are committed to helping each other out and hooking each other up, especially the newcomers.
And it isn't just about the ladies on top reaching a hand down, although there's plenty of that. New-school mentorship is about women hooking women up across job titles, industry lines and social circles. An introduction here, a coffee there. Mediabistro founder Laurel Touby says, It feels good, you get something, I get something, let’s move on!
Eleven women at the center of New York's digital scene have gone out of their way to spread the love. They are entrepreneurs, writers, attorneys and journalists. They organize TEDWomen, wimlink, WIE Symposium and the the best breakfast in town. They have advice for you.
Dina Kaplan and Pat Mitchell: Pay it forward
Laurel Touby and Tania Yuki: Come together
Yao Huang and Tikva Morowati: Platforms to launch
Reshma Saujani, Rachel Sklar and Sara Holoubek: Change the ratio
June Sarpong and Dee Poku: The big event
Dina Kaplan
Co-founder, blip.tv
If the women’s digital network had an epicenter, it might be Dina Kaplan. A former MTV News producer, Emmy-winning reporter, and White House Director of Research for the Office of the White House Counsel, all this before she co-founded blip.tv, Dina has what you would call a lot of social capital, and she’s generous with it.
I feel committed to wanting more women to start companies and to have those companies be successful. My goal is that the next Mark Zuckerberg is a woman.
The breakfast you want an invite to
All of us have really intense day jobs and we want to do good by all the women who reach out to us, but it’s often hard to do it. I started [mentorship group] Calliope Group because it’s a way to scale women helping women. The Calliope Group we hosted over Internet week was designed to celebrate the top women founders in NYC. [Gilt Groupe Chair] Susan Lyne spoke on scaling, [Bloomberg anchor] Deirdre Bolton on speaking and being interviewed on television, and [PaperlessPost co-founder and CEO] Alexa Hirschfeld on hiring and working with engineers. At our next meeting women will be getting counseled on their company pitches, with mentors including [TED Media Executive Producer] June Cohen to critique and coach them.
Pay it forward
I was at a dinner party at The Paley Center, and Joan Gerberding, a woman I sit on the advisory board with for the Women’s Media Center, asked who I wanted meet. And I said, [Oxygen Media founder and CEO] Gerry Laybourne. Joan grabbed my arm and walked me over. Gerry was sitting with Diane Sawyer. Gerry turned around nicely and said, Hi, what’s up? And Joan said, Gerry, I want you to meet Dina. She is starting a web video company and I want you to know each other. Gerry said, You’re starting a web video company? Can you come see me tomorrow? I’ll clear my whole day for you. She was running Oxygen at the time. I called her office the next day and her assistant said, Great, she’s been expecting your call, when can you come in? 2pm? Great. Gerry will see you then. Gerry said, Tell me about your business and tell me what you need. I said, Gerry, I need a revenue deal. It doesn’t have to be a lot. Any type of deal that will bring revenue into the company so we can prove to the investors we’re pitching for our angel round that we can make money. And Gerry said, I think there’s a deal we can do. So we came back in the next week and figured out there was a deal to be done. People were walking out of the room and Gerry said, Dina, hold back for a minute. She said, I feel like part of what my role is right now is to empower the next generation of women leaders. That is what this is about. I hope that when you are able, you too will pay it forward. We closed the deal, which led to a much bigger deal with CNN, and because of those deals we closed our first round of angel funding and the founders were all able to quit our other jobs and blip.tv was off to the races. It changed my life and changed the life of blip.tv. I haven’t talked to her in years, but my understanding is I’m not even close to the only person Gerry has helped. There are little things we can do as women in business and tech that seem small to us but can change the course of a fledgling company. I believe that part of my role is to pay forward the kindness that Gerry offered to me. It’s at the front of my mind, How can I be helpful.
Pat Mitchell President and CEO, The Paley Center for Media
When I first met Pat Mitchell, she extended invites around the room to the first TEDWomen, which she hosted last December.
Are women this accomplished supposed to be this nice? Pat’s decades-long career launched her to the stratosphere and she keeps coming back to bring more women with her.
There are a lot of us who did not have mentors who appreciate how much difference it can make, who have seen the results of our mentoring. Mentoring in my generation is considered a really great gift to be able to give back. Also, mentoring has changed. It still works most effectively one on one, but it can work one to many, online or in person.
Come to New York
I see a world of opportunity for young women entrepreneurs and innovators coming out of college. We’d love to see them come to New York and find a community of support here. We were also dismayed when the first stories came out profiling young men running tech companies as if there were no women who had founded companies and gone through financing. When I hear about the companies the women, for example, in Dina Kaplan's Calliope Group are starting, I find myself going, Great idea, what a good business model. It reminds me a great deal of Silicon Valley ten years ago, and it’s encouraged me of the future of digital media’s leadership. When [Facebook COO] Sheryl Sandberg was at Google, she had these small dinners for women in tech companies because there were so few of them at the time. It was astonishing to me the amount of brainpower and not to mention success represented at that table. There still aren’t enough women in leadership positions, although there are certainly more. But today’s entrepreneurs in New York are working in a tougher financial environment than 2008, or than the young women fifteen years ago were working in Silicon Valley when they were riding a wave of excitement and a lot of capital. The commitment, the drive, going up against whatever barriers are put in front of them... I’ve been awesomely impressed. We’ll be very successful when the next Google founder is a woman. It will happen.
There were no women
The search for a really good, effective mentor has been going on since the millennium. I certainly never had one, but when I came into the business there were no allies, much less mentors. There were no women - one or two of us at every media company, and not many more than that at other companies. My mentors were mostly men, as was the case with most of the women who came up in those days. A lot of women who worked their way up in those early, tough, slog-by-slog days adapted characteristics of their male colleagues, and everything around them said, You can’t help your sisters, you have to protect your own turf in the world. That mentality was pervasive, especially in the media industry. I fortunately never felt that way and determined that if I ever got to a certain place in my career, one of the first things I would do is to make sure a woman succeeded me at every job if possible, to always see who was coming up behind me and support them, and to offer myself as a mentor.
Journey to full potential
I’m particularly interested in women having the opportunity to prove themselves and become fully realized human beings with fully realized human potential. Entrenched differences still exist, so it’s going to be still a little bit of a challenge, and sometimes a lot more. So if I as a woman can open a door, drop down a ladder, share lessons, make a phone call, send a contact, recommendation, whatever it is that I can do that makes that journey to full potential easier and more quickly realized for another woman, I’m going to do it. If we all did that, the entire picture of the planet would change. I completely believe that we’re holding up half the sky without any help - without enough help. If we helped each other, think how powerful that would be.
Laurel Touby Founder, Mediabistro
One night stand mentorship Laurel Touby didn't know a ton of people when she arrived in New York in 1985, so she did the sensible thing - she started throwing parties. Good move: she started Mediabistro to connect the same people digitally, which she sold for $23 million in 2007. Socializing has been good for Laurel, and Laurel has been good for socializing.
I like matching people. It’s like professional matchmaking. It’s not even out of a sense of goodness, I just can’t help myself.
One night stand mentorship
Today it’s not about old-school style mentorship - now nobody wants a commitment like that. It’s more like hit-and-run mentorship. That’s what guys have been practicing all along, the one night stand mentor. It feels good, you get something, I get something, let’s move on! People like me get high off connecting people like you. Someone who makes me look good, who I feel is qualified and smart and talented. But I don’t want to marry you, I just want to sleep with you once or twice. I think that’s the new way of mentorship. Check out Ohours - it’s so great. I’ve done it twice and I'm signed up for a third. You go to a cafe and people meet, and you give them advice for 20 minutes. It’’s like a quickie. I love it.
The more I give, the more I get
I’m always collecting talent. I’ve always been told I should be a headhunter because for years I’ve been collecting names and information about people into a database, and when I hear of something, I’m always reaching out to connect people, male or female to be honest. I don’t remember names or faces, but I remember what people do. I like matching people. It’s like a game, and I feel like I scored karma points when I do it. It’s gratifying. For example, years ago when I started throwing parties, I heard about a job I thought would be perfect for somebody, and I told her to apply. She thought it was a reach but she got it, and it was a senior editor job at New York Magazine, and I felt so happy she did it. A lot of people don’t reach out, they sit in their corner and try to help themselves. The more I reach out, the more it comes back to me. All that good will that I put out into the world comes back to me. People end up saying, You should talk to Laurel, and some of those wind up as opportunities for me. So I feel like the more I give, the more I get.
Tania Yuki Founder, wimlink
Tania Yuki spent ten years as an actor on Australian television before moving to New York, where she’s worked as a media attorney, a producer, and an executive at comScore.
She started wimlink, a meetup over 1,000 women strong, to create a space for women in tech specifically for networking, mentorship and partnership.
When I arrived, I literally did not know one person.
What’s changed since you got here?
I think definitely there is greater openness about the need for mentors and more groups and communities that you can join than before. A big part of why I started wimlink was because something like it didn't exist, and I wanted it to. I always make it a point at wimlink events to go around the room and have everyone introduce themselves briefly, so you can know who you particularly want to make sure you meet when we break for networking. I came back from an event in Vegas where that had not been the case, created a group on Meetup, committed to a date for a first event and then began reaching out to pretty much everyone I'd ever met who might be on board. To be clear, I don't think there has ever been a lack of opportunity for women in digital media here - but I think there are better and more prominent role models now than there were perhaps a few years ago.
Who hooked you up?
Linda Abraham, who is the CMO at comScore. She's just always been so amazing and a big role model for me while I was working at comScore, and even now that I've moved on [to VP of Advertising Solutions at Visible World]. She nominated me for a Great Mind Award with the Advertising Research Foundation, which I received for some work I had been doing on video measurement. This lead to a whole string of speaking opportunities and even a Fast Company profile, which really accelerated my career.
Yao Huang Co-founder and Managing Director, The Hatchery
Yao Huang started The Hatchery to connect emerging entrepreneurs with investors in New York, and has been bridging the gap since 2007. The Hatchery hosts events likened to a support group for startups and the American Idol for apps.
Introductions are great, but the best relationships I've had are where you can ask for advice. It's not about gender - some of the biggest doors were opened for me by men.
You do not need to code to be an entrepreneur
Try to look for a major female CTO in New York. I think [bit.ly Chief Scientist] Hilary Mason might be the only one. It’s 2011. You don’t need to write code anymore. We’re not in the 90’s anymore. Technology is not that complicated. What’s hard is marketing. There are a lot more women in marketing. And women dominate the purse strings. You want to talk about alignment with the consumer? This is the age for women to take over and build businesses for women.
“Who are you, what do you do?”
The way women network is not about having 100 people in a room. You build a friendship first, then you see. For example, I’m a member of Step Up Women’s Network, where everyone is very open. They’ll say hello and greet each other, versus, Are you important enough for me to talk to. They can have a whole conversation about personal things, whereas with men, you cut to the chase - Who are you, what do you do. It’s a different start of a conversation. That’s why I host dinners for women in digital this way – small, intimate, hand-selected, where you kind of know there’s a relationship to be had, they just need to be put in a room. Maybe men are not so patient, or maybe they’re not interested in nurturing relationships as much as in seeing immediate deals. There’s no right or wrong way to network, it’s just very different.
Tikva Morowati Founder and Director, Ignite NYC
Tikva organizes Ignite NYC, an monthly event that focuses on personal stories from big names like Esther Dyson and Cindy Gallop and newcomers alike, and sees participation from across New York's tech, media, design, user experience and academia communities.
Tikva also serves as Director of Platform Engagement at Singly, is a resident at Eyebeam Art and Technology Center, and designed a full-body version of Pong.
Come together
I started Ignite NYC as a platform to bring interesting and diverse voices in technology together to share themselves in a personal way. Speakers have five minutes and 20 slides that advance every fifteen seconds to tell a story about what they are passionate about to an active and attentive audience. I also love finding “undiscovered” talent or people that aren’t necessarily amassing much attention to give them a spot light. Perry Chen, the co-founder of Kickstarter, spoke at Ignite about his vision for crowdsourcing fundraising for creative projects just 5 weeks after Kickstarter launched. Andy Carvin, the NPR Senior Strategist who went on to change the world through his reporting of the Middle East revolutions, spoke at Ignite NYC a year before on his work with crowdsourcing volunteer work to help with Haiti’s devastation.
Social change curation
Ignite NYC allows me the ability bring together an eclectic group of audience members and attendees who typically would not have the chance to meet. Even when there are high-profile speakers, they usually talk about a subject that is completely unexpected. I urge them to do this because I want the audience members to walk away with a more intimate connection to each speaker. I am proud of the social change I am able to produce through my curation. I curate the speaker sets to be fifty percent women, which is unheard of in the technology sector. This takes lots of time since women tend not to apply in our public call for speakers, and I have to go out of my way to research and invite women speakers. This draws a noticeably large percentage of women in the audience. Upon speaking at Ignite, many presenters are invited to present throughout the conference circuit including O’Reilly and Poptech. Also, my Ignite team is mostly women and that the one man on the team identifies as a feminist. We all care about this.
Rachel Sklar Co-founder, Change the Ratio
Rachel Sklar is a lawyer, writer, editor, social entrepreneur who founded Change the Ratio as a digital response to a tired question, “Where are all the women?”
We’re right here, Mike Arrington.
I do what I can to shine a light on awesome ladies doing awesome things, whether by recommending them for panels and conferences, pushing them to write, connecting them to people who can be helpful or just showing a little Twitter-love.
Change the Ratio
Change the Ratio, co-founded with Emily Gannett, was spurred by an NY mag cover story on the NY tech scene which overwhelmingly featured dudes. I'd been writing about media for 5 years and was pretty used to writing the next-day "Where are the women?" story, but this one felt personal - I could see all the women who were invisible here, I saw them every day. The last straw was the photoset - of 53 people pictured, 5 1/2 were woman. I say "a half" because in the Meetup.com shot, team member Teresa Wall had her face half-covered by the founder's foot. That drove me crazy. No one else had their face obscured. It mattered.
Network effects
Change the Ratio has placed awesome women on panels, in the press, connected them with investors and opportunities, included them in exclusive events. We’re best at providing visibility and over the past year we've seen it lead directly to access, then opportunity. And every time those doors open for one women, they open behind her for others to follow. The network effects of women helping women are huge. I know it. It has been amazing to see the change just in the last year. As the tech industry has hit a Zeitgeist, we've seen the overall talent pool in this town swivel toward it in a huge way - and we've seen a ton of women-led companies that exist because women looked around, identified a need and a market, and doubled down on their instincts. It's really exciting.
Who hooked you up? It always irks me when someone says "Women don't help other women" because my God has that been the opposite of my experience. It was [New York Observer Editor-in-Chief] Elizabeth Spiers and [Mediabistro founder] Laurel Touby who gave me my first online platform at FishbowlNY, and Arianna Huffington who recruited me from there. When I left The Huffington Post to build a media startup with Dan Abrams, I still wanted to write - and Tina Brown was amazing to me at the Daily Beast. I marvel constantly at the generosity of Joanne Wilson. Dina Kaplan has created something terrific in her breakfast series. I just look around and see so many women doing it, making it happen and bringing their fellow lady-pals along for the ride.
Reshma Saujani Deputy Advocate for Special Initiatives at the Office of the New York City Public Advocate
The first Indian-American woman to ever run for Congress, Reshma was appointed the city’s Deputy Advocate for Special Initiatives this year, where her focus on entrepreneurship and job creation through technology is making Obama proud.
She organized the White House Urban Entrepreneurship Summit in Newark in June, and is working on a new program to give undocumented children access to higher education.
Support failure
After the 2010 election, we have less women in Congress and State Houses than before. We need to recruit more women to run earlier and younger. In the 20th century, twelve of the nineteen presidents were thirty-five or younger when they were elected to their first office. This nation is hungry for female political leadership. We have to make sure we’re getting more young women to run. Part of it is getting women to accept failure. They think if they run, they have to win. You might lose your first race, you might lose your second. Leadership is for those who take it. We have to empower each other every day so we believe that we can. New York is really tough right now, but for those who believe in themselves and keep at it, keep at it, you will eventually get there.
Horizontal Mentorship
I believe in horizontal relationships. I think women in our generation are figuring this out. The issues we’re dealing with are really different than the ones our mothers dealt with. I have a sisterhood, and we’re committed to each other. They are part of my upward trajectory, and my success depends upon their success. So I almost think of mentorship as what my girlfriends do for each other. We’re in all these different industries, but were dealing with the same problems. We come together and talk about things, like how do I negotiate my salary. Someone in advertising is going to have the same struggles or issues as I am. Sponsorship is important too. [The White House Project founder] Marie Wilson has been trailblazer on this topic. She actually did it by appointing her successor,Tiffany Dufu. That’s the sponsorship that we’re looking for. One of first things I did in my job was to hire a young woman. I take her with me to every meeting with donors, economists, whoever. She’s 24, and she’s learning through watching me. I think it’s the responsibility of all of us in our careers to do that.
Sara Holoubek Creator, afieldguideto
Sara Holoubek has spent the last three years on the New York Board of Directors of mentorship non-profit Step Up Women’s Network - and she's met a lot of women along the way. She started publishing afieldguideto to leave a publicly accessible trail of female founders, influencers and deal makers she's met in New York.
Successful women are not rare birds
I started afieldguideto as an intentional conversation point: Successful women are not rare birds in the tech and media space. There are a lot of us throughout the ecosystem. I had accumulated a sizable list of such women over years, and tapped it as needed when a conference organizer, entrepreneur or prominent list maker would throw up their hands and say "I can't find any good women." In late 2010, I realized that it was rather selfish to keep this list to myself, and that it should be published for the common good.
Visible networks
So why does it seem hard to find a good woman for your board, executive team, or keynote? Men’s networks are extremely visible. Historically they have been exclusive golf clubs, Ivy League secret societies, and so on. It should not be lost that up until quite recently, many of these organizations did not allow women. Women's networks, on the other hand, tend to be sub-surface, almost underground. We tend to group ourselves into small and not-so-small communities, many of which are informal. Since launching afieldguideto, I have heard from many of these organizations and events: Women 2.0, She's Geeky,Alley to the Valley, Dell Women's Entrepreneur Network, Innovate New York Women, LadyBusiness, to name a few.
Who hooked you up?
In 1999, MBA in hand, I was looking for a job in the branding space. [Managing Director, North America for Dachis Group] Jen Van der Meer told me that I needed to work in what was known as "the Internet." She was right, and so I joined Organic as a strategy analyst. While I was an early Internet adopter, I had no real understanding of what I was getting into, and only recently have I realized how fortunate I was to be in the space when we were all creating things for the first time.
Dee Poku and June Sarpong Co-founders, WIE Symposium
June Sarpong, one of the most recognizable faces of British television (she even co-hosted Nelson Mandela’s 90’th birthday party), and Dee Poku, former head of international marketing at Paramount Pictures, have one thing on their minds: empowering women.
They pulled together some of the biggest names in media and started the Women: Inspiration and Enterprise conference in New York last year, and are gearing up for a second conference in September. All proceeds from the WIE Symposium benefit the White Ribbon Alliance for Safe Motherhood.
Why WIE?
June:
Dee and I decided to start the WIE Symposium because we wanted to create an event that would bring together women from all walks of life to share, connect and empower each other to be their best selves. We also wanted an event that was fun!
Dee:
We felt there was a need for more inter-generational dialogue. That the women leaders today would benefit from hearing fresh new ideas from the next generation and likewise, those budding trailblazers would be inspired and empowered by their role models. We’re pretty proud of what we achieved in our first year in terms of the caliber of speakers and the solid content. We’ve also established a strong identity pretty quickly. We like to think that the WIE Symposium has opened doors for a lot of women – for our contemporaries and for young women just starting out in their careers, by giving them access to some incredible pioneers.
Who hooked you up?
Dee:
A girlfriend, film producer Celine Rattray. New York is so much about networking – who you know. And when I first moved here 8 years ago, she completely unselfishly opened the door to her network. It proved invaluable both professionally and personally.
June:
I have a few: Baroness Margaret McDonagh, Baroness Valerie Amos, and of course: Sarah Brown, Donna Karan and Arianna Huffington for agreeing to host the WIE Symposium.
Dee:
They are incredible mentors.
June:
Men and women network differently and hook each other up differently. I think women have to feel a connection, men just need to respect each other irrespective of whether or not they actually like each other.
Dee:
Very much so. I think women have to like each other in order to bond. Men can distance themselves a little more. For them it’s more about the end goal.
New York is where it’s at
Dee:
We see a vast improvement for women in tech. And definitely more of an openness to network amongst women in that sector - its no longer a dirty word. In other industries, the emphasis appears to be more on socializing. But we don’t see nearly enough mentoring and that’s a shame. We plan to launch a new mentoring program at WIE this year which we’re very excited about.
June:
I think the New York tech scene is a perfect stomping ground for women - it's no where near as much of an all-boys club as Silicon Valley. Plus, the shopping is better...
Advice for the Class of 2011
Reshma Saujani:
Don’t feel like anybody is too far from your reach. If you want to meet someone, shoot them an email. I can’t tell you how many times I’ve done that and it’s opened up doors. Go for it! Apply for the job you’re not qualified for, the one you think you’re not old enough for or ready to be in, and go for it. If you fail, you’re more likely to succeed next time because you ran first and lost.
Tania Yuki:
I think despite all the teething and traps you go through in New York as a newcomer, it's really the most energetic place in the world in terms of entrepreneurship and new ideas. If you have an idea that you want to attract energy and support, this is the place to find that. There is no shortage of opportunities for good talent and good ideas gain traction fast. At least, that's been my experience here. When I arrived, I literally did not know one person.
Laurel Touby:
Men are used to putting themselves out there and being rejected. Maybe young women are afraid of being rejected, but they have to toughen up. Put yourself in positions where you can be rejected because that’s the only way to get big rewards. Show your vulnerabilities and don’t be afraid to. Take someone aside and ask them for some specific time with you. Someone you admire. See what happens. What’s the worst that can happen?
Rachel Sklar:
The network effects of women helping women are huge - and they always, always come back to you.
Dina Kaplan:
If you've scheduled a call to get advice from someone who is busy, do as much research on them as possible so you are prepared to ask smart questions. You'll learn from the research, which is valuable in itself, and the person you're meeting with will be flattered and impressed; it will really help you to leave a positive impression.
June Sarpong:
Never take no for answer! Where there's a will, there's always a way. Also, be flexible in your approach. The route to your destination might be different that you first anticipated. Most of all, have fun along the way to achieving your goals.
Dee Poku:
Every three months take three hours out of your day to focus your goals. Go for a walk in the park, sit by the beach – anywhere that allows you to un-clutter your mind. I find it to be an invaluable exercise and it really helps me re-align.
Yao Huang:
You can do anything you want. The sky is the limit. Don’t let anyone tell you otherwise. But be smart about it. Think through the concept. You don’t have to fail. And if you need anything, my door’s open.
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25ae9b97f5d1e51cc0775d40492a6311 | https://www.forbes.com/sites/juliesygiel/2017/01/31/ouishave/ | This Founder Is Building Her Business On An Old-School Shaving Secret | This Founder Is Building Her Business On An Old-School Shaving Secret
Coffee With Karen Young, Founder And CEO Of Oui Shave
“Coffee With…” is an ongoing series that features stories and advice from female founders. The interviews are conversations we actually had over lattes and are edited for length and clarity.
Karen Young drinking a cappuccino at Stumptown Coffee in the Ace Hotel (Photo courtesy of Julie... [+] Sygiel)
When Karen Young, the Founder and CEO of Oui Shave, first tried shaving with a safety razor, she described the experience "as if the angels were singing." Inspired by her own shaving frustrations, Young founded the company in 2014 based on the premise that women can have a superior shaving experience with the right tools. Oui Shave is primarily an ecommerce destination with a focused product line of three razor styles and accessories, including a lavender scented shave oil and an ingrown relief serum. Young has recently scored a partnership with Urban Outfitters, which will be stocking the grooming products on shelves and online starting in mid-February. The company is self-funded to date and saw 250% growth in 2016. Ranging from $48-85 for a razor plus one bottle of shave oil (sold as a set), the razors are more of an investment than your typical drugstore purchase. The company is based in New York City and currently has a team of five.
Young and I met for coffee at Stumptown in the Ace Hotel one afternoon for tea and cappuccino. We chatted about her journey building Oui Shave from figuring out the right online approach to negotiating with manufacturers.
Our beverages at Stumptown Coffee Roasters (Photo courtesy of Julie Sygiel)
Julie Sygiel: Tell me, what sparked Oui Shave?
Karen Young: Prior to this I worked for one of the most prestigious beauty companies worldwide. So I was immersed in beauty and I already had a creative background from an interior goods company that I ran previously. With the exception of a few brands like Glossier, beauty for women is still very much centered on, “This is what we think you should look like,” and “This is what we think you aspire to look like.” On the other hand, there is a lot of interest in introducing beauty products to men in order to see growth in the industry. I watched this very static column for women and then saw the exciting exploration on the men’s side. In my previous role we spent a lot of time talking about how men are changing and they’re not the typical macho men that we expect them to be or that our society has pigeon-holed them into. I started seeing men’s shaving brands pop up. There was Dollar Shave Club and Harry’s, and I was like, “Why am I still shaving with a crappy pink razor?” While at the same time, I had access to any mascara, any lipstick, any blush that you can possibly imagine. While everyone’s focusing on men in shaving, they’ve completely forgotten about the women.
The real issue started with the fact that I’ve always had issues shaving. Ingrown hairs, razor burn, no matter what, it felt like such a barbaric practice. One day I was getting my toes done with some friends and I rolled up my jeans and my friend was like, “What the hell happened? “Why does your leg look like that?” And I replied, “Oh, that’s razor burn. That’s my norm.”
Soon after that I was on the train thinking about all the innovation happening in men’s shaving, and I thought, “WTF. We shave too!” I just started laughing because I realized I had just come up with the name for the company.
Oui Shave Products (Image courtesy of Oui Shave, Photographer & Stylist Jeanette Moncada)
Sygiel: So what was the first step in manufacturing a razor?
Young: The first thing I did was research the absolute best way to shave and I found this thing called the safety razor. It took about six months to a year of researching and at least a few of those months were me trying products myself. The research kept pointing to the safety razor and when I was young I remember seeing my uncle use one.
Sygiel: I remember seeing a men’s old school gold razor for the first time a few years ago. I thought it was so gorgeous and so regal and I was totally jealous. But it never entered my mind that that could also be a woman’s razor. For those who don't aren't familiar with the safety razor, how would you describe it?
Young: It's simply a single blade, exposed on two sides, housed in a metal razor, which is cleverly designed to expose the skin to only a sliver of the blade. I traced the origins of the best safety razor, found out how and where they were made, and then started calling manufacturers. It took a few months of, “Can someone please listen to me??” because everyone was surprised that I wanted to introduce the safety razor to women. I then had to try the razor samples, obviously. I had my phone next to me in the bathroom just in case I needed to call 911, but it was like the angels were singing when I used it. I was like, “You’ve got to be fucking kidding me. I can’t believe we’ve been missing out on this for years because we’ve been sold this pink shit. ” It just doesn’t make any sense. Women actually started shaving with the safety razor in the 1960’s. I couldn’t understand the gap between this incredibly beautiful piece of machinery and the classic plastic crap we have now. What I found is that it comes down to longevity; a safety razor lasts longer so it doesn’t need to be replaced as often. Also plastic is cheaper to manufacture and companies can mark up blades that only fit their specific model.
Quote by Karen Young (Image courtesy of Julie Sygiel)
Sygiel: Yes! My first razor that was pink and plastic started growing mold on it after about a year. I was like, “Mom, I need a new razor” and she responded, “What do you mean, 'You need a new razor?' I bought you a razor. That’s your razor.” Because she was still using the safety razor that her mother bought her when she started shaving. In her mind, a razor lasts a lifetime.
Young: I’m so excited to see a resurgence of quality and longevity in shaving and to be a part of that. I have personally had experiences where I’ve been really excited about a new product from a new company, and then when I decided to give it a try, I felt like what I got was a beta test. Especially for something like this, if I’m going to woo a woman away from shaving the only way she’s ever known for most of her teenage and adult life, it has to be really amazing. It took longer but I decided to start with the very best product. That meant that maybe my website wasn’t the most amazing when I started or my photographs perhaps weren’t mind blowing, but I grew into all the other things by concentrating on giving women the best product first and foremost.
Sygiel: How did women react when you first started selling in 2014?
Young: When I first put the razors online, women reacted, saying, “What? I don’t understand. What are you trying to do to me? What is that? It looks dangerous.” I realized that I had to educate women about the safety razor first and changed the entire website. I had to make people feel comfortable with it so that’s why the razors have names like Carrie, Samantha, and Charlotte. I wanted people to have the feeling when they come to the site like they’re going to hang out with their girlfriends. I also wanted women to feel like they can ask us anything, which they do. I answer a ton of questions about shaving particular areas.
Selfie of me and Oui Shave Founder Karen Young (Photo courtesy of Julie Sygiel)
Sygiel: So what’s coming up for Oui Shave? Any exciting news?
Young: We’re developing a safety razor tailored for women this year, which I’m really excited about. Right now we’re in the sampling phase of the custom process and I can’t believe sometimes that I am an expert now on safety razors. For example, we just got some samples delivered to try out, and there’s a certain way the head of the razor is shaped. If it’s got too much of a curve it presses on the blade in such a way that more of it is exposed and it creates a bit more of an aggressive shave which is better for men. I think the hardest part right now of the custom process is figuring out how to tell people who have been making razors for all these years targeted toward men, how to do them in such a way that my customer can have a fantastic experience as well.
Like this interview? The previous #coffeewith post is with Laurie Henzel and Debbie Stoller, the cofounders of BUST Magazine. In it, we talk about their start 23 years ago, what they've learned since then and how they revived the brand after it shuttered under other ownership.
If you’d like to receive an email with links to Julie's most recent "Coffee With..." posts, you can sign up here.
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995f8656fda9478cac8c65596a25cb39 | https://www.forbes.com/sites/julietbarbara/2012/02/19/how-twitter-chats-will-open-your-mind-and-network/ | How Twitter Chats Will Open Your Mind and Network | How Twitter Chats Will Open Your Mind and Network
In his book Where Good Ideas Come From, Steven Johnson writes:
“...most great ideas first take shape in a partial, incomplete form.” … “Liquid networks create an environment where those partial ideas can connect; they provide a kind of dating service for promising hunches. They make it easier to disseminate good ideas, of course, but they also do something more sublime: they help complete ideas.”
Twitter, in its ideal state, is a liquid network. It brings disparate people, organizations and ideas together in a sort of “primordial soup” of idea creation and sharing.
But how do we curate and capture these ideas around an interactive experience? Plenty of inspiring people have Twitter accounts, but it's too often a one-way street: they push out content and we consume. How do we make sure we're participating in conversations and communities that broaden our perspectives? That’s where, I think, Twitter chats (or tweet chats) come in.
If you’re not familiar, Twitter chats are Twitter-based dialogues that anyone can join just by following and mentioning whatever hashtag is assigned to that chat. Because of the diverse group of people a Twitter chat can bring together in an open, "liquid" environment, there’s potential for those serendipitous connections that just may complete an idea.
February 16 #innochat accessed via TweetChat
Never joined a Twitter chat before? It’s easy! To get started:
1. Choose a chat.
Many of the chats I follow are on business, marketing, innovation and creativity, but there's a growing list of topics out there. Here are a few I like:
#Innochat. “Regular Twitter-based discussion of innovation topics.” Every Thursday at noon ET.
If you like innovation, you will love #innochat. Intriguing past chats include "Innovation isn't Working! Is It Time to Innovate how we Innovate?" and "Storytelling and Innovation.” #Innochat is organized by innovation enthusiasts/experts Renee Hopkins , Gwen Ishmael and Andrew Marshall. Access the chat archive here.
#Ideachat. “Twitter Chat & Salon for Twitter Thinkers About Ideas." Every second Saturday of the month at 9am ET.
#Ideachat’s host and creator Angela Dunn says it best in her blog:
“#Ideachat is simple--a global discussion about 'ideas.' A look at the power of ideas in a socially networked world. A salon for Twitter thinkers, creators, artists, scientists, analysts, writers, entrepreneurs, you! A convergence of connected minds, right, left or whole-brained."
The last chat on Creativity and Learning brought up some fascinating points about the importance of play and wonder in learning and work. Access the full set of transcripts here.
#Socialmedia. "The Business of Social Media." Every Tuesday at 12pm ET.
#Socialmedia (or hashtagsocialmedia) is a great resource for discussion on leveraging social media in business. Founded by Jason Breed and Marc Meyer, this chat brings together a diverse group of people from large and small businesses. Each chat is assigned a unique hashtag starting with "sm." The last chat (#sm140) was on "Nurturing Relationships in a Socially Connected World."
For more Twitter chats, see this impressive spreadsheet of 575 (and growing) chats.
Don’t see a chat you like? You can always start your own.
2. Follow a Chat
Once you pick your chats, there are a couple ways to follow. First, follow the people who run these chats and get their updates on upcoming chats. When the chat is scheduled to happen, you can either search for the designated hashtag in Twitter or login with your your account through TweetChat, a platform designed to enhance your Twitter chat experience.
3. Participate!
Participation is key for reaping the benefits of Twitter chats. Ask and answer questions, add insight, discuss. These are usually very open and friendly environments, so don’t be worried about posting a “stupid” comment or question.
Just like everything else, Twitter chats have limitations. The 140 character maximum can limit the depth of a comment (even if it enables more voices to chime in), and if enough people participate a good idea can get lost in the crowd. Maybe the interactions that take place "offline" after a chat are more fruitful than the actual chats themselves.
Have you experienced a game-changing Twitter chat moment?
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cf91098a3a10bfe2398d3530e1ddaa99 | https://www.forbes.com/sites/julietbarbara/2012/03/03/are-google-glasses-the-beginning-of-the-end-of-gadgets/ | Are Google Glasses the Beginning of the End of Gadgets? | Are Google Glasses the Beginning of the End of Gadgets?
In late February, the New York Times reported that Google will release its Android-powered, heads up display Google Glasses before the end of 2012. Different stories exist around the functionality and look of Google Glasses, being built in the secretive GoogleX offices. But thanks to observations from people like 9 to 5 Google blogger Seth Weintraub and the New York Times' Nick Bilton, we think they’ll have these characteristics:
Small camera providing real-time data about a person’s environment (also takes pictures) Head tilting-driven navigation system Non-transparent heads up display on one lens Voice input and output capabilities The downside? Google Glasses are rumored to look more like “terminator glasses” than everyday eyewear.
Why are Google Glasses a big deal? Because they may be the beginning of the end of gadgets. Today, gadgets like smart phones, tablets, and MP3 players are built from the ground up to serve specific technological purposes. A smart phone exists to make calls. A MP3 player exists to play music. In the future, we'll see more of the opposite: everyday objects that already exist (like glasses) or spaces (like a room) that have technology built into them. As the functionality of gadgets becomes built into these everyday objects, the gadgets themselves start to become irrelevant.
Last year Microsoft released this "Productivity Future Vision" video that paints a picture of a future in which technology is seamlessly integrated into every moment of our lives.
In the future, what we now call “gadgets” are built into every moment. Technology isn’t a separate entity that needs to be turned off or on. It blends into our environments and moves with us. It knows where we are at all times because it’s already there.
Depending on who you ask, this is either really scary or awesome. In Microsoft’s video, this new era of technology integration improves the world by dramatically increasing our productivity. It eliminates the wait, power-down and travel time between different gadgets and “real life,” just like Google Glasses. In the future, you don’t enter a room, open your laptop, turn it on, open a browser, and type your search. You just enter a room and start doing whatever you planned to do. That saves physical energy and, perhaps more importantly, brain power.
That means more time and energy for innovation in all fields. When Google Glasses or future iterations become good enough to replace smart phones and tablets, you won’t be running around the house looking for your iPhone. You’ll be wearing it. And by that time, it may be in the form of contact lenses or even an embedded chip.
But is it all that rosy? Even tech optimists like me have some reservations. Forbes contributor E.D. Kain, for example, tries to bring us back to reality by reminding us that social media plays a small role in comparison to violence and killings in international conflicts. Kain puts his concerns this way in a post last November:
“...I can’t help but think that for every advance there is a trade-off. For every step forward in mobile and social technology a privacy concern is raised. For every new tool that helps consumers work together in the P2P economy, the potential for similar advances in government surveillance technology increases. For every hacker and upstart entrepreneur there is a new law waiting to be written to clamp down on innovation.”
Another concern is the potential to increase the wealth gap with more widely-used and advanced technology around the world. If the “haves” are the first to acquire the new products that could cataylze productivity and innovation, will the “have not’s” be left in the dust? A friend of mine and tech blogger Anson Alexander had a good counterpoint to share about that:
“As technology improves, so does the ability of people in remote and less wealthy parts of the world to self-educate and access information that they traditionally would not have access to. I know that in Africa, satellite internet access has connected many people to grids that normally would not have internet access because they don't have the 'cable' infrastructure to hard-wire into the internet.”
As long as technology is affordable and scalable, it can improve the standard of living across the board. A look at the growing mobile phone market in the developing world supports that, too.
It’s hard to tell what effect Google Glasses will have, especially since very few people have seen them. They might not be great at first. But it’s a bold step in a new direction, and hopefully a new era of productivity and innovation.
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0e2483f70e0e9dc93bb0ee50565a7493 | https://www.forbes.com/sites/julietdavenport/2020/12/02/the-internal-combustion-engine-is-dead-long-live-electric-vehicles/ | The Internal Combustion Engine Is Dead. Long Live Electric Vehicles. | The Internal Combustion Engine Is Dead. Long Live Electric Vehicles.
The UK has come a long way in a short time on electric vehicles. The country ranks third in Europe for total number of EVs, with the number of plug-in cars on the road now over 390,000, up from a mere 3,500 in 2013. This is around 1% of the market and sales grew by 21% last year alone.
The future is not straightforward to predict. Britain's National Grid thinks the stock of EVs could be between 2.5 and 10.5 million by 2030 – a wide range, but measures in place are encouraging.
The rise of EVs can be attributed to a number of factors: more electric car models than ever; lower costs, and consumer demand going up. Clear drivers for European governments are the dual factors of air pollution, with particular urgency post pandemic, and the climate crisis. This means the days of the Internal Combustion Engine are limited. France, Britain, Denmark, and Spain have all set target dates to ban the sale of petrol and diesel cars within the next 10 to 20 years and other countries look set to follow.
The leader in this transformation is Norway where there are a suite of EV incentives dating back to the 1990s, including: no annual road tax or import taxes; a 25% VAT exemption; free parking; and compensation for scrapping fossil fuel vans, among others. These strong incentives have transformed the Norwegian market; in 2019, 56% of all new cars were either electric or plug-in hybrids.
Norway might be out in front, but other European nations are working hard to catch up. Green think tank Transport & Environment recently published analysis which found 10% of all new cars within the European Union could be electric in 2020, rising to 15% in 2021. This is largely driven by the rush to meet the EU’s stringent carbon emissions standards over the next year.
There is palpable excitement within the industry as businesses start to innovate, invest, and overcome barriers which have been holding back the market. For the longest time, one of the common concerns with electric vehicles was a fear of running out of electricity while you are on a journey, so-called ‘range anxiety’. Many people may think this is still an issue. Today, analysis from Cornwall Insight has found the average electric car in the UK can now travel over 200 miles on a single charge. And new Tesla models can comfortably surpass 300 miles, which starts to put range anxiety in the rear mirror.
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The next concern is where and how people can charge on the go and the availability and affordability of public charging. The number of charge points in the UK is now over 35,000, and 210,000 Europe wide. Greater investment in infrastructure has seen the number of fast charge points in the UK increase from around 3,000 in 2013 to over 19,000 today, with an added 9,000 for rapid and ultra-rapid chargers. These new devices bring down the time it takes to charge to under 30 minutes, a significant improvement in only a few years. The average stop in a service station is up to 27 minutes, which mimics the average time spent on a long journey “refilling”.
So, EVs are transferring from the domain of the innovators to the early tech adopters, which will mean the technology will need to be accessible and cheaper to buy. That is where scale on the networks and the models will be important. After that the manufacturers and the networks will need to address the more conservative parts of the market, where drivers will demand more from the service like being able to book charging points to guarantee access. The transformation will be steep, and there is still a long way to go.
The right investment will see EVs transform society: cleaner air, green jobs, and home charging supporting the grid. What we’ve seen so far is only the tip of the iceberg. Let’s hope those icebergs don’t melt before we see ambition become reality.
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aeed9560153f6071e4521dfd5812140a | https://www.forbes.com/sites/julietdavenport/2021/02/17/what-should-innovation-look-like-in-the-race-to-net-zero/ | What Should Innovation Look Like In The Race To Net Zero? | What Should Innovation Look Like In The Race To Net Zero?
Solar Impulse 2, the solar-powered plane, is seen over the pyramids in Egypt during its ... [+] round-the-world flight in 2016. The plane is equipped with 17,000 solar cells, has a wingspan of 72 metres, and weighs just over 2 tonnes. (Photo by Jean Revillard/Solar Impulse2 via Getty Images) Getty Images
The word innovation is overused in business and economics. This is probably because few people are against the idea. It’s a word which conjures up thoughts of human ingenuity, new discoveries, and improvements to our lives. Innovation is what human beings have been doing for centuries and will continue to do as we seek new technologies to advance society.
But it’s worth taking a step back and considering not only what we mean by innovation, but how we want innovation to be tailored to fit the climate emergency.
We face a serious challenge to transform our economies and cut emissions to zero within a generation. Not only do we need to make sure that our research institutions are up to the challenge, but that they are appropriately funded. In the U.K., only 1.7% of the country’s GDP goes into R&D spending. And within this only a fraction, about £0.2 billion, is spent on energy (including water). Aerospace has long been the industry of choice in the U.K. and continues to be one of the winners; latest figures show that, in 2018, the sector undertook R&D worth £1.7 billion, with government in part supporting the effort.
The U.K. lags behind other developed nations for innovation spending. The average across the OECD is 2.4%. Germany spends 3.1%, and the likes of Israel and South Korea reach an astonishing 4-5% of GDP. The U.K.’s position is hard to marry with a commitment to reach net-zero emissions. This needs to change quickly. There is little use in considering the nature of innovation if we are doing so little of it.
For some business leaders innovation is not about new ideas and discoveries. Instead, it’s about efficiency savings and productivity. This is lazy thinking. If we don’t put ambition at the heart of innovation, then we erode the meaning of the word. We fall back on thinking it’s about improving the number of baked bean cans which come off the factory conveyor belt. Innovation is about tackling big ideas and problems. Growing populations, climate change, Covid-19 and future pandemics — we won’t solve any of these with more baked bean cans.
People are often astonished when they see what human beings can achieve when they act like they are in a crisis. Living under the chaos of coronavirus has been a clear illustration of this fact. Consider the F1 teams which started manufacturing ventilators, or the vending machine companies which switched to supplying PPE. Add to this the miracle of developing multiple new vaccines in a matter of months and we are starting to see what innovation can really do.
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As Europe starts to recognize the fundamental changes needed to create net-zero systems, innovation will play a central part. Solar and wind power will form the backbone of our future zero-carbon energy mix, but that doesn’t mean we are done innovating with renewable technologies. Marine, floating wind, and green hydrogen could make huge strides with the help of dedicated research teams. And couldn’t the aerospace industry use some of that government funding to invent an aircraft so energy efficient it can fly around the world using only the power of the sun?
But innovating to net-zero emissions isn’t just about new technologies, it’s about rethinking how the energy system works and creating new marketplaces to support consumers. The Committee on Climate Change, set up to advise the UK government on reaching its climate targets, estimates that over 60% of the measures to reach net-zero in the UK will need behavioral or societal changes.
Not only is including consumers the right thing to do, it’s urgent and necessary. We need innovation to support the creation of a smart energy system where our homes are enabled to become mini power plants. Smart technologies will allow households to use clean power from solar panels, store it in an electric vehicle, or battery, and send back to the grid at times of low demand.
We need to make sure new policies and regulation encourages this form of imaginative innovation, and doesn’t lead with efficiency, or maintaining the status quo. Making more and doing more of the same thing won’t help us create tomorrow’s net-zero society, even if we all love baked beans.
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e69a2f781791b1eb878a400720d6761e | https://www.forbes.com/sites/julietremaine/2019/07/24/the-best-things-to-do-in-miami/?sh=672b352460d0 | The Best Things To Do In Miami | The Best Things To Do In Miami
This story was written in collaboration with Forbes Finds. Forbes Finds covers products and experiences we think you’ll love. Featured products are independently selected and linked to for your convenience. If you buy something using a link on this page, Forbes may receive a small share of that sale.
The Miami skyline. Getty
When you visit Miami, you may be tempted to stay at the beach the entire time. Resist that temptation, at least for a few hours. There is so much to see and do in Miami. Here are some cultural attractions worth missing a little beach time for.
Bass Museum of Art
Bass Museum of Art Courtesy of Bass Museum of Art
This contemporary art museum features works from artists around the globe, like the neon sculpture Miami Mountain by Ugo Rondinone, above, which is installed in Collins Park. Admission to The Bass is free on the last Sunday of the month. To stay nearby, look to The Plymouth South Beach, which is just a short walk.
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Miami Beach Botanical Garden
A bronze sculpture by Oxana Narozniak at the Miami Beach Botanical Garden. (Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images)
In the middle of Miami Beach, this garden oasis has nearly 3 acres of gardens full of subtropical plants. There’s a Scented Garden, heady with fragrant trees like Frangipani and Ylang Ylang, and a Japanese Garden full of art. There are garden yoga and meditation classes nearly every day. Stay nearby at the Hotel Belleza.
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Pérez Art Museum Miami
An installation by Christo and Jeanne Claude at the Perez Art Museum Miami during Art Basel Miami. (Photo by Sean Drakes/Getty Images)
Pérez Art Museum Miami (PAMM) is a museum that houses both classic and contemporary works of art, in permanent and rotating collections. There are daily tours and workshops, as well as evening events like pop-up bars. Nearby, The Gabriel Miami is a new hotel with a rooftop pool.
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Fairchild Tropical Botanic Garden
Fairchild Tropical Botanic Garden Courtesy of Fairchild Tropical Botanic Garden
The Fairchild Tropical Botanic Garden offers tram tours and self-guided walking tours through the extensive grounds and sculpture garden. Wings of the Tropics is a butterfly-and-hummingbird exhibit, and there are two restaurants on the grounds in which to have lunch. The iconic Biltmore Hotel is nearby if you want to stay close to the gardens.
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Jungle Island
Flamingoes at Jungle Island in Miami. (Photo by Joe Raedle/Getty Images)
At this eco-adventure park, you can have encounters with lemurs and sloths, see more than 300 exotic birds, simulate skydiving with SuperFlight or zip-line into Adventure Bay. Kids can even spend the night on an overnight expedition. To stay close to Jungle Island, check out Miami Marriott Biscayne Bay.
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Coral Castle
Miami's Coral Castle, which Ed Leedskalnin sculpted and finished in 1951. (Photo by Joe Raedle/Getty Images)
An unusual architectural phenomenon, the Coral Castle Museum took nearly 30 years to build, and is believed to be a tribute to a lost love. Ed Leedskalnin hand-carved blocks of coral and created sculptures that add up to more 1,100 tons. The Courtyard by Marriott Miami Homestead is nearby.
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4b4f5fe2bc873ffd24af0db690378a1e | https://www.forbes.com/sites/julieweed/2016/01/30/pot-store-owners-asks-employees-to-sample-and-review-products/ | Outside Seattle, A Pot Store Owner Learns The Value Of Providing Free Samples | Outside Seattle, A Pot Store Owner Learns The Value Of Providing Free Samples
PAPER AND LEAF - Bainbridge Island, WA
When Brendan Hill and Steven Kessler, opened up the Paper and Leaf pot shop on Bainbridge Island near Seattle, they wanted to make sure their staff could recommend the right product to each customer and their individual needs. So along with the typical endeavors they undertook to build their cannabusiness, like designing a beautiful interior and creating an open relationship with local government officials, the pair made sure their staff could speak about all the products on the shelf. The owners do this by offering employees samples of each item, so they can try them at home and experience the effects.
In today’s patchwork of marijuana legalization in the United States, some employers will fire you for failing a drug test while others will offer you drugs to test.
Marijuana growers and processors are allowed to distribute some free samples to sellers both for negotiating a sale and “educational samples” for sales staff, but the rules had been rather vague. “At first they could distribute four grams per month to us to negotiate a sale, on top of offering unlimited budtender samples at a reduced cost, then the LCB clarified the rules for retailers and for a time—banned budtender samples, but now in a proposed new rule it’s limited to a total of 5 grams per month per budtender.” said Hill. He said that a week in the marijuana industry felt like a year anywhere else when it came to changing regulations. “The rules are always being updated,’” he said.
Paper and Leaf Recreational Marijuana Shop on Bainbridge Island WA (photo credit Paper and Leaf)
Product sampling is taken seriously. To track and share employee reactions to each item, whether it is a strain of cannabis from a new producer or a marijuana-infused bakery item, Paper & Leaf has set up a private Facebook page for staff members to post their feedback on the products. Generally, that feedback is geared to the most common questions that customers will ask. “They post about the scent of the product, the potency, how it makes them feel,” said Hill. “Most of our employees have been with us since we opened last June, so they know the information that customers are looking for,” he said. Staff reviewers will use lingo like “gave me couch-lock,” “relaxing,” “euphoric,” “uplifting” or “made me kind of nervous,” in their reviews for each other.
The practice is not unusual said Greg James, publisher of Marijuana Venture magazine. “From what I have heard from several store owners, that is the most common way to get the quality checked,” he said, “Otherwise the owner or buyer would be stoned all day every day.” James said one owner he knows puts all the samples in a bowl and labels them secretly, so he gets unbiased reviews.
The personal experience translates to more personalized service said Hill. When a customer enters the Paper and Leaf store, an employee greets them and asks what they are looking for. From there, they might refer the customer to a certain salesperson behind the counter, depending on their expertise. “We read all the product reviews on our Facebook page so if one person hasn’t tried a new edible, they know who has,” said Hill.
“It’s actually pretty fun to talk about the products with customers in an open way after all the years it was illegal,” said Hill, who is also the drummer for the band Blues Traveler.
Testing the products is not required to work in the shop. Hill said that two employees don’t use marijuana at all and don’t sample the wares. “I want friendly employees that are knowledgeable and present well, whether they use marijuana or not,” he said.
Paper and Leaf is located in a nondescript industrial office park because it was the only place they were allowed to operate on the island, and that location is 5 miles from the ferry dock that brings in tourists. To help locals and tourists find it, the store started offering free shuttle rides to and from the shop from the ferry dock or anywhere on the island. During the summer travel season, up to 250 people a day were visiting the store.
An employee who has had a great experience, and is able to vouch for a product can really increase sales through personal recommendation said Hill.
Some of Hill’s best-selling items include a salve called Muscle Melt by Ethos Extract, a tincture called Deep Sleep from the Fairwinds Company and Magic Pebbles from Magic Kitchen which he describes as pot-infused lollipops without the stick.
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c212256d3ba6b52cd396a707f9e1aab7 | https://www.forbes.com/sites/julieweed/2016/05/15/at-quincy-green-startup-cannabis-farmers-cope-with-falling-prices/ | At Quincy Green, Startup Cannabis Farmers Cope With Falling Prices | At Quincy Green, Startup Cannabis Farmers Cope With Falling Prices
Leslie and Mark Olson are law partners, entrepreneurs, and as of 2014, founders and owners of Quincy Green, a cannabis farm in a picturesque part of Eastern Washington state that gets 300 days of sun per year. Mark is also a third generation farm owner, so the business fit may sound ideal, but the couple is using every skill they have to steer around the pitfalls and falling prices of their nascent industry.
Some companies are folding because they don’t have enough capital to get through these early turbulent years Ms. Olson said. “It’s a market without reliable financial modeling because prices, laws and business conditions are changing so quickly,” she said, “The state did their best, but right now there is too much supply for too few stores.”
Quincy Green Marijuana (Source: Quincy Green)
The founders have taken a deliberate approach in every aspect of the business to navigate the shifting terrain. To avoid reliance on a once-a-year crop, the pair run both a “smart house” which is an indoor facility that still runs on sunshine and can cycle through four crops a year, as well as an outdoor growing space, each targeting a different customer. Extract processors buy the outdoor plants and upscale retail shops buy the hand-trimmed buds from the smart house. Currently the farm produces more of the outdoor-grown plants for sale but the Olsons hope to end up with an even split.
The pair have also taken a careful approach to expanding their sales network. They supply just a handful of customers so they know they can deliver enough product and provide strong customer service.
Instead of raising outside money to finance the venture, funds which could come with investors demanding a quick return and a say in the company’s strategy, the couple bootstrapped the operation with one million dollars of their own savings. They spent the first year building facilities and growing their first crop, which turned out to be harder than they expected. In their second year, “we coalesced a solid, synergistic team, put in a lot of sweat equity, and built a farm we’re really proud of,” said Ms. Olson. This year they are on track to gross $600,000 and sell a million dollars of cannabis in 2017. The company employs four full time staff plus part-time workers during harvest.
The unique characteristics of the emerging marijuana market make all of the couple’s considerations critical. Flower prices have fallen. “Last year, the wholesale price of flower ranged from $4-$6/g; this year, from $3-$5/g,” which can make warehouse grows with expensive lights and HVAC systems too expensive to run said Ms. Olson. On the processing side, $60,000-$150,000 machines that use Butane to extract the THC from the plant have quickly become old technology as cleaner processing machines come online.
Another challenge to the farm’s profitability is the competition from the medical marijuana market in Washington State. For the last two years medical marijuana has not had the stringent testing, processing and packaging regulations that recreational marijuana has had, making it cheaper to create than recreational marijuana. Customers also do not have to pay tax on medical marijuana. “That’s two years of unequal competition,” said Ms. Olson.
Medical dispensaries sell grams at less than $10/g retail she said while in recreational stores, buds are available at less than $10/g retail, but high quality ones range from $14-22/g. Ms. Olson expects that prices will stay steady or increase a bit as demand continues to increase. On July 1, 2016 the medical and recreational systems will be aligned.
Still, the company with its sustainably grown cannabis and biodegradable packaging, is growing. Sales are increasing and this year’s harvest is expected to be the bigger than last year’s. The Olsons are expanding from a 22,000 square foot growing canopy to a 30,000 square foot canopy, financed by re-investing their earnings.
The company is also introducing a new line of products. Along with the Quincy Green line of premium cannabis, Quincy Buds will be launched to attract customers looking for a lower price point. “Our stores tell us that a lot of our customers want to buy our flower because of its quality and our brand’s sustainable ethos, but the price is a little out of their reach,” she said.
“Our hope is that now if we go to outside investors,” Ms. Olson said, “they’ll see a well-run company with a track record, a brand, and opportunity for expansion.”
Quincy Green Owners and Cannabis Farmers Leslie and Mark Olson (source: Quincy Green)
END
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d0e18e81fbbf95f700a74afb1910c8d3 | https://www.forbes.com/sites/julieweed/2017/11/17/parody-of-a-drug-commercial-goes-viral-and-propels-briteside-cannabis-company/ | Parody Of A "Drug Commercial" Goes Viral And Propels Briteside Cannabis Company | Parody Of A "Drug Commercial" Goes Viral And Propels Briteside Cannabis Company
Good fortune recently accompanied hard work at the Oregon-based marijuana and technology company Briteside. A video parody of a pharmaceutical commercial, advertising the drug cannabis with side effects of “euphoria and uncontrollable giggling,” was viewed 400,000 times in its first 72 hours on the web.
The video significantly boosted the company’s visibility and orders from the thousands of new customers created by the video will help fund the company said Justin Junda, the business’ cofounder and CEO. It may be illegal to advertise marijuana, especially as a mood-elevating medicine, but a parody video can get the same message across and stay within the law.
Although the company is only about a year old, it’s already embarking on a number of different directions. In addition to growing, processing and selling marijuana, Briteside is also offering an ecommerce site to Oregon dispensaries to make orders and deliveries easier.
Briteside delivers cannabis, an eCommerce platform for Oregon dispensaries and a viral video britside
A cannabis ecommerce platform is unlike any other said Junda. “Most sites want you to buy as much as possible and just load up the shopping cart,” he said, “but we have to program controls into our online ordering site to make sure the customer isn’t going over the legal cannabis purchase limit in their state or sometimes their particular town.” The company makes money based on delivery fees, revenue sharing with the dispensary, or sometimes a blend of the two.
That extra level of programming to make sure customers aren’t buying more than the legal limit, is just one of the many challenges Junda faces as an entrepreneur in the complicated and nascent industry.
Junda, whose background is in the technology industry, says the key to success is flexibility. He says he’s seeing “people folding up shop because they can’t keep up with the changing rules and regulation in the industry.”
Along with the technology products it offers, Junda’ s Oregon company is vertically integrated in the cannabis space, meaning he grows marijuana, and processes it into smokable flower, edible products and topicals. He then sells those products through dispensaries in the state.
Junda also is creating products for other brands, and sells Briteside branded products made by partner companies. All this with just 40 employees in a one year old company.
Briteside plans to launch its dispensary order-taking and delivery software in California and Canada next month. “The demand out there is huge,” he said. “Way bigger than we ever thought it would be when we got into this.”
Briteside Delivers Weed in Some Oregon Cities Briteside
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bab946c407e0bbe805ecd700598a7184 | https://www.forbes.com/sites/julieweed/2019/09/07/advice-for-cannabis-and-cbd-advertising-and-marketing/?sh=4caa928a4ca7 | Advice For Cannabis And CBD Advertising and Marketing | Advice For Cannabis And CBD Advertising and Marketing
Tank Pipe from the Daily High Club The Daily High Club
Jon Lowen, co-founder of Surfside.IO , a marketing platform in New York, works with cannabis industry companies on their marketing, branding, and advertising projects. He’s seen and worked through marijuana, CBD and ancillary products’ marketing restrictions which vary from state to state. Here’s his (lightly edited) advice on the best approaches to marketing and advertising in the industry:
Facebook and Google restrict cannabis and related advertising (specifics below) but companies have advertised successfully on other platforms and media properties. The main restrictions advertisers face on platforms that do accept cannabis and adjacent ads relate to targeting and creative, and each state has its own version of what is allowed. Some states are more restrictive, requiring state approval or distinct language/disclaimers. A general guideline is to focus ads on properties where at least 72% of the audience is 21+. Images and messaging cannot show consumption or appear to target minors. False health claims are of course not allowed.
Sometimes companies trying to advertise non-plant touching or hemp-derived CBD, are grouped under the same restrictions as plant-touching cannabis companies. Educating the gate-keepers on new laws like the 2018 Farm Bill that legalized hemp and its derivatives can help.
It’s important to utilize current customer data to understand the type of people interacting with your brand or purchasing your products. Profiling high-value customers allows companies to build look-alike audiences to find new people who share the same attributes as existing customers but are not yet customers.
Start-ups can also tap into cannabis consumer datasets which track visits and purchases to reach consumers who have recently bought a specific product, visited a dispensary or have a concern your product may address. This data-centric approach eliminates waste that happens when targeting the masses and when paired with location targeting, ensures you are reaching consumers in the right markets where your brand is active.
When companies are properly collecting data it becomes easier to measure the success of marketing programs across all advertising channels. This omni-channel approach makes providing personalized messaging to audiences and markets more productive and provides a multiplication effect that helps boost overall efforts. Companies should test out new channels, audience types or content - everything can be measured and optimized to find the best way to reach current and new customers to continue the growth of your company.
Facebook Restrictions :
Facebook doesn’t allow ads that promote the sale or use of illegal, prescription, or recreational drugs. This includes ads that contain drug-related paraphernalia, ads with images that include the leaf or plant itself, or anything that implies the use of a recreational drug. Recently Facebook changed their policy to allow results from verified marijuana-related accounts that show up in searches for terms like "cannabis" and "marijuana,” meaning you may now list your cannabis company after being verified by Facebook. Facebook has also recently allowed advertisers to run ads for topical hemp, however, the ads cannot specifically feature those products and other CBD products are not allowed.
Google Restrictions:
Similar to FB, Google also restricts advertising of your Cannabis or CBD company on their platform. Their policy does not allow ads for substances that alter mental state for the purpose of recreation or otherwise induce "highs" such as cannabis. They also do not allow ads for products or services marketed as facilitating recreational drug use or ads for instructional content about producing, purchasing, or using recreational drugs. Punishments for violating these restrictions include ad disapproval, account suspension, or compliance review.
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c9aa907520fe28fcded8b92f44125cd0 | https://www.forbes.com/sites/juliewilcox/2012/06/26/7-benefits-of-quinoa-the-supergrain-of-the-future/?sh=6b4f14105a1b | 7 Benefits Of Quinoa: The Supergrain Of The Future | 7 Benefits Of Quinoa: The Supergrain Of The Future
Quinoa dates back three to four thousand years ago when the Incas first realized that the seed was fit for human consumption. According to WHFoods quinoa “was the gold of the Incas” because they believed it increased the stamina of their warriors. The Quinoa Corporation calls quinoa the “Supergrain of the Future.”
Who would not want to reap the benefits of this amazing superfood?
Here are seven health benefits of quinoa:
1. Quinoa is one of the most protein-rich foods we can eat. It is a complete protein containing all nine essential amino acids.
2. Quinoa contains almost twice as much fiber as most other grains. Fiber is most widely known to relieve constipation. It also helps to prevent heart disease by reducing high blood pressure and diabetes. Fiber lowers cholesterol and glucose levels, may lower your risk of developing hemorrhoids, and may help you to lose weight (it takes a longer time to chew than does other foods because it makes you feel fuller for longer and is less “energy dense,” which means it has fewer calories for the same volume of food).
3. Quinoa contains Iron. Iron helps keep our red blood cells healthy and is the basis of hemoglobin formation. Iron carries oxygen from one cell to another and supplies oxygen to our muscles to aid in their contraction. Iron also increases brain function because the brain takes in about 20% of our blood oxygen. There are many benefits of iron; it aids in neurotransmitter synthesis, regulation of body temperature, enzyme activity and energy metabolism.
4. Quinoa contains lysine. Lysine is mainly essential for tissue growth and repair.
5. Quinoa is rich in magnesium. Magnesium helps to relax blood vessels and thereby to alleviate migraines. Magnesium also may reduce Type 2 diabetes by promoting healthy blood sugar control. Other health benefits of magnesium include transmission of nerve impulses, body temperature regulation, detoxification, energy production, and the formation of healthy bones and teeth.
6. Quinoa is high in Riboflavin (B2). B2 improves energy metabolism within brain and muscle cells and is known to help create proper energy production in cells.
7. Quinoa has a high content of manganese. Manganese is an antioxidant, which helps to prevent damage of mitochondria during energy production as well as to protect red blood cells and other cells from injury by free radicals.
For a few of my favorite quinoa recipes go to my post on 4 Best Quinoa Recipes.
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00043bed24a9f98d33a1ddbf31f2414b | https://www.forbes.com/sites/juliewilcox/2012/07/01/health-benefits-of-broccoli/ | Health Benefits Of Broccoli | Health Benefits Of Broccoli
Thanks to yesterday’s passage of Obamacare, broccoli is at the forefront of global consciousness as never before. Chief Justice John G. Roberts Jr. ruled that the commerce clause of the United States Constitution “doesn’t give Congress the power to make people buy health insurance— or, for that matter, healthy green
Health Benefits of Broccoli
vegetables like broccoli…” (The New York Times Conservatives See Silver Lining in Health Ruling, by James B. Stewart) Whether or not you are ecstatic or fuming about the Supreme Court’s decision, it is hard to argue that broccoli is anything but one of the healthiest foods we can eat. Broccoli has a plethora of health benefits. It contains anti-inflammatory nutrients, antioxidant nutrients, detox-support nutrients, and anti-cancer nutrients amongst many other important chemicals that sustain the health of the human body.
What is broccoli?
“Broccoli is a member of the cabbage family, and is closely related to cauliflower. Its cultivation originated in Italy. Broccolo, its Italian name, means "cabbage sprout." Broccoli's name is derived from the Latin word brachium, which means branch or arm, a reflection of its tree-like shape that features a compact head of florets attached by small stems to a larger stalk. Because of its different components, this vegetable provides a complex of tastes and textures, ranging from soft and flowery (the florets) to fibrous and crunchy (the stem and stalk). Its color can range from deep sage to dark green to purplish-green, depending upon the variety. One of the most popular types of broccoli sold in North America is known as Italian green, or Calabrese, named after the Italian province of Calabria where it first grew.” ~WH Foods
What are the health benefits of broccoli?
Detoxification. Broccoli contains an unusual combination of three phytonutrients, glucoraphanin, gluconasturtiian, and glucobrassicin. Together these nutrients have a strong impact on our body’s detoxification system.
Anti-Inflammatory. Broccoli is a particularly rich source of a flavonoid called kaempferol, which helps to battle allergies and inflammation.
Improves Vitamin D Deficiency. Broccoli contains vitamins A and K, which help to keep the metabolism of vitamin D in balance. Vitamin D promotes the body’s absorption of calcium and thereby sustains and promotes bone health and growth.
High In Fiber. Fiber helps to lower cholesterol and facilitates digestion.
Increases Eye Health. Broccoli improves eye health due to high concentrations of two carotenoids in it—lutein and zeaxanthin—which play an important role in the health of the eye.
Supports Skin Health And Repair. When glucoraphanin from broccoli is converted into sulforaphane the result is healthy skin and repair of skin damage.
High in Potassium. Potassium helps to fight high blood pressure.
Rich In Vitamin C. Vitamin C enhances the absorption of iron and alleviates the common cold.
Calcium Rich. Calcium strengthens and promotes bone growth and health, which assists in the prevention of osteoporosis.
Decreases Blood Sugar Levels. Thanks to its high levels of soluble fiber and chromium, broccoli helps to maintain low blood sugar.
High In Protein. Broccoli is not only a great source of protein but is also low in calorie.
Helps To Prevent Heart Disease. Broccoli contains lutein, which helps to fight heart disease by preventing the thickening of arteries.
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22d89ac17704cfde4e8ba77f9af960aa | https://www.forbes.com/sites/juliewilcox/2012/07/02/intervals-and-sprinting-help-to-reduce-harmful-belly-fat-sydney-study-says/ | How To Lose Weight, Tone, & Flatten Your Belly: Intervals and Sprinting Help To Reduce Harmful Stomach Fat | How To Lose Weight, Tone, & Flatten Your Belly: Intervals and Sprinting Help To Reduce Harmful Stomach Fat
We all know that it is very difficult to maintain a six-pack let alone a fat-free abdominal region. Men particularly have trouble with belly fat post forty and even younger, but women also often complain of “muffin tops” and unwanted tummy rolls. The problem with fat around the trunk is not just an aesthetic annoyance for many but is also a health concern. It often means that there is a greater likelihood that the body is storing fat around the internal organs such as the liver and kidneys, which increases the chances of getting heart disease. Cardiovascular intervals are known to reduce fat and build tone throughout the body. They are particularly effective at reducing fat around the torso and its internal organs. Last week Jason Gale wrote an article for Bloomberg on this subject, which was very informative. Here is a quote from Gale's piece, which examines the Sydney study and other studies on how intervals help to reduce belly fat: "June 28 (Bloomberg) — Sprinting, not jogging, helps men lose harmful belly fat faster, scientists in Sydney found. Eight-second bursts of sprinting on an exercise bike repeated intermittently for 20 minutes helped overweight men lose 2 kilograms (4 pounds) of body fat over 12 weeks, researchers at the University of New South Wales said today." (You can read the full article here). Intervals require motivation that is sometimes hard to find in one's self. It took me a while to get into the groove doing them while running. If you build up to them slowly, however, as I recommend in "How To Run Intervals," you will be surprised at how quickly it will happen, that is, if you do your cardio exercise consistently, with focus, and dedication. Setting goals for yourself like if someone passes you as you run but really isn't running that much faster than you are, go ahead and sprint to take back your lead. You might then try to keep your lead or if you fall behind again, all the more reason to throw in another sprint. Working out with a friend can also be a great sprint motivator. I only started biking for distance and speed a few months ago. For the first two months, my friend and I biked at a cruising speed so that we could chat and get in shape. Over time we began to increase our distances. He was a much stronger cycler than I was from the start so he would lose me on the hills. I also despise biking and running up hills, which definitely allow my laziness factor to kick in! Only now because of the gradual buildup, the incredible joy I get out of cycling, my desire to be a strong cycler, and one day even compete, does my friend cry out, "we're sprinting this hill." And off I go activating every muscle in my legs and maintaining my yogic breath and mind to stay calm. Meanwhile, I suppose, belly fat is burning away.
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9e00bbdab5474269aabdca11849ee2fa | https://www.forbes.com/sites/juliewilcox/2012/08/15/10-ways-to-stay-fit-on-a-cruise/ | 10 Ways To Stay Fit On A Cruise | 10 Ways To Stay Fit On A Cruise
On any cruise, regardless of what kind of ship you are on, you can always find ways to move your body and stay in shape. Exercise will keep your body fit, settle your possibly stressed out mind, and help you to enjoy your journey no matter what problems you might encounter on the water. Despite the fact that I am of The Love Boat generation (and share the name of that show’s famous Cruise Director Julie), I have avoided cruising like the plague because I am an incredibly physically active person, enjoy space, and am a free spirit. Surprisingly, I just completed my first boat voyage on the Yangtze River in China.
Julie, The Love Boat
I had planned to make good use of the gym while on the cruise but the exercise facility on my boat was tiny and hosted only four antiquated bikes with no other equipment to boot. When you are on a cruise, especially on a river cruise, even the most luxurious boats can be tight; fitness rooms and cabins are often not quite suitable for true workouts because the boats need to be small enough to make it through narrow land passage ways, shallow waters, and ship locks.
As soon as the bellman closed my door, I resolved to prove that even on a river cruise, there are no excuses to let one's self go. I unpacked my Manduka yoga mat to make sure that I could do sun salutations, core work, and a handstand without losing any body parts. The test was successful--I had just enough room to practice and so I began my yoga session in the 2 x 6-foot space available to me along side my bed. Knowing that I could practice yoga and do my core workout in my room, allayed my first-time cruise anxieties. After having visited a few large and polluted cities (yet still fabulous), I was ready to enjoy China’s natural pacifying landscape from the view of the water.
Cruising the Yangtze River was amazing and is a growing adventure as are cruises in general. According to Conde Naste Traveler, "Americans are flocking to river cruises in record numbers, making it one of the hottest trends in travel." The Yangtze is the third longest river in the world behind the Nile and the Amazon. It is also home to China's stunning Three Gorges as well as other beautiful countryside. At the end of a Yangtze cruise, you can also visit The Three Gorges Dam, which is one of the most spectacular modern engineering feats. The Three Gorges Dam is not to be missed.
Even the best cruises can still be daunting and claustrophobic, especially for those of us who like to move. But, have no worries; you can stay fit and perhaps disembark in better shape than when you got on board!
Here are 10 tips for staying in shape on any cruise.
1. Use the fitness facilities. Many of the best cruise ships have state-of-the art fitness centers. If yours does, use it. Make sure to schedule at least 30-minutes a day of cardio, strength training, and yoga/stretching.
2. If adequate exercise facilities are not available, find and make space in which you can do your workouts. If the fitness facilities are not up to par, use your room or the boat’s decks to practice yoga, do your cardio, and tone your core (in a room you might have to re-arrange your furniture a bit). With limited space, I suggest that you include many sun breaths and or sun salutations (at least upwards of 10) to get your heart rate going. If you can do a vinyasa practice, that will give you the best yoga workout. Make sure to throw a jump rope in your suitcase. 20-minutes of jumping rope, which you can do almost anywhere, is one of the best calorie-burning exercises.
3. Do the excursions. Don’t be lazy. Get off the boat to see what you came to see. The excursions are a great way to get some walking in and move your body.
4. Stretch on the deck. Weather permitting, decks provide the perfect set-up for stretching. Whether you hold onto the ship’s railings to strike various lunges to open and elongate your calves, stretch your shoulders, or hips, or need more space than you’re your room provides to do yoga, decks are a great place to maintain your flexibility.
5. Partake in the cruise physical movement offerings. In China, my cruise boat offered Tai Chi every morning at 6:30am. Though Tai Chi does not provide the maximum cardio calorie-burning workout, it is a great way to get your blood flowing and joints lubricated, especially if you are not able to be super active due to age or ill health. Other cruises offer many types of group workouts. If you cannot muster up the motivation to workout on your own, join the classes.
6. Eat healthily. Many cruises provide a plethora of food choices and some, very few. Stick to your home food schedule (as long as it is healthy), keeping things simple and structured. I say go vegetarian if you can and make special requests if needed.
7. Watch your drinking. On a cruise, it’s easy to get caught up in free flowing alcohol day into night. Set your limits in advance. Drinking every day lunch through to bedtime is easily doable on a cruise but obviously not helpful to your fitness program. Choose a couple of nights to celebrate and leave it at that.
8. Swim. If your ship has a pool, swim laps (try not to plunge just to cool off or for fun and play).
9. Snacks. Bring your own healthy snacks (raw nuts, Lara Bars, health crackers) and snack once a day in the late afternoon around 4pm.
10. Bring your guru with you. If you have a fitness or yoga motivator at home that you love and can’t live without, bring their DVDs with you as well as your computer to play them on. You cannot rely on the fact that a cruise guru will satisfy your needs nor that the media equipment will work.
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9226ee52e74d740927354a8942a13b41 | https://www.forbes.com/sites/jumio/2021/03/01/5-converging-trends-driving-the-need-to-know-and-trust-your-online-users/?sh=2804cec96313&utm_source=Paiger&utm_medium=Referral | 5 Converging Trends Driving The Need To Know And Trust Your Online Users | 5 Converging Trends Driving The Need To Know And Trust Your Online Users
It’s a common refrain that the COVID-19 era has accelerated digital transformation trends. According to a recent J.D. Power study, nearly one-third (31%) of new account openings are executed through a bank website or mobile app, up from 22% in 2019 — that’s a 50% increase in just one year. And this trend has only accelerated during the pandemic.
Jumio
One of the biggest hurdles of digital transformation many businesses face is truly knowing the identities of their end users. Know Your Customer (KYC) is the mandatory process institutions use to verify the identities of their customers and ascertain what fraud risks they may pose. Banks and other financial institutions, including credit card companies, insurance agencies, crypto exchanges and even online gaming sites are required to go through a number of identity proofing steps in order to ensure their customers are not involved with corruption, bribery or money laundering.
But the need for KYC-type identity proofing goes well beyond financial services. Healthcare organizations need to know their patients so they can reliably deliver telemedicine and prevent prescription fraud. Gig economy companies often need to verify their drivers as well as customers as a matter of trust and safety. Online dating sites increasingly have to verify the identities and ages of their users in order to protect them from harm and online fraud. And even financial institutions want to “know your transactions” to ensure they’re taking every precaution to detect trends that may indicate money laundering.
In fact, it’s hard to think of any modern enterprise that isn’t seeking a higher assurance related to the identity of their online customers, considering the following trends:
Data Breaches: Over the last two years, we’ve been inundated with news stories of large-scale data breaches where hundreds of millions of records, including name, email address, username, password and other personal information have been hacked. The Dark Web: Digital identities, including passports, driver’s licenses and ID cards, along with matching selfies, can be purchased on the dark web for just a few dollars. The anonymity of bitcoin and massive data breaches have led the dark web market to flourish. Regulatory Hurdles: The fines for non-compliance keep getting higher and higher. By the end of July 2020, global financial institution fines and penalties totaled $5.6 billion for non-compliance with AML, KYC and sanctions regulations. Fines issued by APAC regulators related to AML and KYC violations saw a dramatic increase from $3.5 million to almost $4 billion. Traditional Data-Centric Methods: The rampant theft of PII via large-scale data breaches continues unabated. Thanks to the dark web, criminals can attack static data verification methods and impersonate legitimate consumers to obtain their credit and public records, thus gathering a robust set of information to circumvent most data-centric verification tools. Digital Transformation: The COVID-19 pandemic has accelerated digital transformation, leading to a renewed focus on the digital onboarding process as a critical requirement for doing business.
While banks and other enterprises are looking for ways to streamline the onboarding process, they must ensure that they build in the necessary safeguards to protect their ecosystems, reputation and accounts owners.
Because many organizations rely on more than one identity-proofing method, it’s increasingly imperative for enterprises to intelligently orchestrate across these different capabilities.
By 2023, 75% of organizations will be using a single vendor with strong identity orchestration capabilities and connections to many other third parties for identity proofing and affirmation, which is an increase from fewer than 15% today, according to the 2020 Market Guide for Identity Proofing and Attribution.
The Jumio KYX Platform combines data from a variety of sources to build a complete digital profile and risk assessment of your remote users (whoever the “X” is in your business).
With the Jumio KYX Platform, growing companies can tap into Jumio’s rich expertise and create a highly customized onboarding and eKYC experience based on their unique use cases, risk appetite and budget.
It’s time to rethink identity verification from the ground up. It shouldn’t have to be a messy amalgamation of point solutions that need to be stitched together to provide a risk assessment of a new or existing user. Taking a platform approach to identity proofing and ongoing monitoring is quickly becoming a business imperative and one that can be addressed with a single solution.
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98626ba26efd4d45685e402855ef2554 | https://www.forbes.com/sites/junhli/2012/12/01/chinas-achilles-heel-education-system/ | China's Achilles Heel: Education System | China's Achilles Heel: Education System
As China’s once-in-a-decade leadership reshuffle has renewed hopes for reform, few are focusing on an aspect of state policy with the profoundest implications for China’s labor productivity and economic advancement: its education system.
Contra the popular view that China's rise has something to do with the ability of Chinese kids outcompete American ones in standardized tests, I believe that the continuing emphasis on ideology in the humanities is China’s biggest Achilles heel. Moving up the global value chain is impossible without a dramatic overhaul of its current education system.
Education for Ideology, Not for Enlightening
Instead of cultivating independent minds, education is first and foremost a device for enforcing Party ideology to the young and impressionable minds. I was reminded of this by the recent news story of five poor boys in Guizhou who accidentally suffocated themselves as they lit a fire in a dumpster to keep warm, kicking up widespread comparisons in the Chinese blogosphere to Hans Christian Andersen's "The Little Match Girl," which is still is taught in Chinese schools.
I learned this story in my grade school in China. Reading about the Guizhou tragedy, my mind rushed back to the key “lessons” from the story, which we were told to memorize for the final exam. Specifically, it was about the brutality and selfishness of capitalist society such that the protagonist's very life depended exclusively on her commercial enterprise, and that capitalist class divisions promoted exploitation of poor workers like the little girl.
In terms of didactic story-telling in school, little has changed. Consider that this other story recently went viral throughout the Chinese blogosphere: an (as far as I can tell, apocryphal) account of the teaching of the Cinderella fairy tale in a Chinese first-grade classroom. After reading the Cinderella fairy tale aloud, instead of encouraging students to speak up their reactions, the teacher went on reading out the official “meaning” of the tale, signaling that it would be tested on the coming exam. The students took dictation, scrawling furious notes. This involved a lesson reflecting class struggles in the capitalistic world, with the stepmother symbolizing the selfish, heartless, evil ruling class and Cinderella standing for the innocent, loving, and impoverished working class.
One student raised his hand and asked, “Everything but the glass slipper had reverted to their original forms. What does that mean? "
The teacher dismissed the question out of hand. “It won’t be on the exam. Don’t get distracted by minor point.”
Private Schools as an Alternative
I recently spoke with a senior executive in China’s private education industry about this phenomenon.
“The government worries that without the building of universal communist ideology, their control over the society will be significantly weakened," she said. "Therefore, textbooks are heavily indoctrinated to serve the Party’s ideology."
A mother of two kids in their teens, she cited this was a large factor influencing her choice to switch her children out of local schools controlled by the Chinese education bureaus to privately run international schools – an increasingly desirable option for Chinese parents who can afford it.
However, she also does not idealize the American system.
“Chinese schools excel in knowledge-based teaching. For some subjects during the early stages of schooling, this is very important," she said. "However, Chinese schools pale miserably in comparison to a liberal arts approach adopted by most private schools when it comes to teaching how to learn, not just what to learn. And private schools emphasize collaboration.”
Her last point is critical. The current "gaokao" system – the country-wide college entrance exam that is almost the sole factor determining a student’s college placement – has created a cutthroat competitive learning environment. For many years leading into the “gaokao”, students are constantly tested and ranked on a narrow set of subjects, giving rise to incessant backstabbing and bitter competition. This has engendered a society bent on self-promotion, lacking almost entirely in any communitarian values that extend beyond the immediate family. This potent legacy persists into one’s adult life: suspicious zero-sum ethos pervades every work environment, limiting the potential of most collaboration.
So should “gaokao” be replaced by other means of selection such as essay writing? The executive offered her insights, “Any subjective standard will result in more unfairness in the society. I cannot think of more objective standards than tests. The question really should be what to test.”
Or perhaps what needs to be challenged is the definition of “good student.” If China can learn to part with its reliance on hard-and-fast answers to complex situations (re: the Cinderella story), then its future workers will be more equipped to deal with real-life situations in an increasingly global economy.
Brutal Costs to the Economy
Given the $20,000 to $30,000 per year price tag –let alone the foreign passport requirement – the more balanced liberal arts education offered by the international schools hardly provides a practical solution to the backward Chinese education system. But as China gets richer, international schools have already become the hot ticket to guaranteeing a promising future for one's child.
But the costs to the Chinese economy are considerable in more ways than one. The sky-high tuition fees and passport-earning overseas investments could be instead used to fuel the much-needed domestic consumption. The long-term consequences are more formidable. As the graduates from international schools follow their educational path abroad to further pursue education in a more liberal western world – after all, few would be able to test into the top-tier of Chinese universities once they have step outside the system – many of them stay overseas to join the workforce upon graduation. At home, meanwhile, the children who have risen from the Chinese schools to the top universities in China – an achievement that paves the way to the top jobs – are likely to be the yes-men with uncannily good memories and little mental flexibility.
Xi Jinping, Li Keqiang, and the other new leaders must grasp the grave problems existing in China's education system, and most importantly, in the very values the Party champions. As they consider the reforms that will secure the means of future growth, they would do well to address the eroding quality of any country's most powerful resource: the human mind.
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4f9c72dec70f9dfa6b3327716c4cc159 | https://www.forbes.com/sites/junhli/2012/12/05/chinese-stock-market-buy-in-or-buyer-beware/ | Chinese Stock Market -- Buy In or Buyer Beware? | Chinese Stock Market -- Buy In or Buyer Beware?
Follow Junheng Li on Twitter @Junheng_Li
However ineffective in reviving the US's faltering economy, the low interest rate environment created by the Federal Reserve's quantitative easing programs have nevertheless re-inflated equity markets, driving the S&P index to nearly double its value since February 2009.
Compare the US GDP growth with that of China. In October 2008, its leaders leapt to action, foiling the impact of the global financial crisis with a 4 trillion RMB fiscal stimulus package. Official GDP resumed its high-growth trajectory, hitting 9.2%, 10.4%, and 9.2% in 2009, 2010 and 2011, respectively.
But stack S&P 500 performance up against that of China's stock indices - especially the onshore ones (Shanghai A, Shenzhen A) - and the picture changes dramatically. The A-share indices bottomed out in November 2008, plummeting 70% from their October 2007 peak. Though they built up a modest rebound by July 2009, they tumbled again, hovering around 2000 level, where they remain today, some 65% off the 2007 peak.
In other words, we have a paradox: America's economy founders and its markets take off, while China's economy booms and its markets fizzle.
Might this be a paradox of mispriced risk and underlying value? Some would say so - indeed, many investors tend to identify poor stock index and market valuations as "buy" signals. The argument here would go like this: over the last decade, China’s economy grew an annualized 10%, implying a GDP-per-capita increase of 225% during that time. Yet the stock market only appreciated a feeble 23%. Therefore, China's fundamental growth has not yet been priced into market valuations, most likely due to post-financial crisis risk aversion.
This argument might sound logical, but it's dangerously wrong-headed. First there's that history shows that investing solely based on valuation is a recipe for losing money. Specifically, it risks a value trap - a situation in which investors buy low-priced assets only to see the price stay flat or drop further.
Second - and more importantly - there are the unique investment challenges created by China's political economy. Part of the reason for that is the role of the state in setting economic - and, often, corporate - agendas. This means that understanding the history and exogenous forces in the market, and developing a balanced view on the Communist Party's political imperatives and China's developmental path are prerequisites for all investors.
One such exogenous factor is the role of China's capital markets in the country's economy. In most developed markets, the primary function of an equity market is to provide price discovery, allowing successful companies to raise capital for profitable investment opportunities. Stock markets also reflect the development of an economy, including the growth model, structure and pattern.
The creation of the Chinese stock market in the early 1990s, however, served a different purpose: to recapitalize and restructure large state-owned enterprises (SOEs) that otherwise would have gone under. Policy interventions and regulations around the listing and approval process ensured that the equity market in China were, and still are, heavily slanted toward monopolistic SOEs, and light on competitive private (meaning, non-state-owned) sectors, the true growth drivers.
Market indexes add another layer of bias. For example, financials (including banks, insurance and diversified financials) account for 35.4% of MSCI China index, though they make up just 12.6% of the national GDP. Telecommunications and energy, respectively, are about 13.2% and 17.6% of the index, and less than 3% and 6% of the economy. Consumer discretionary, on the other hand, which is a relatively competitive sector that captures a much more dynamic side of China's growth, is underweighted in the index: 5.8%, even as it composes 21.6% of GDP.
Since the controlling shareholder of SOE is the Party, corporate governance of these companies is a proxy for administrative policy, making them unusually exposed to cronyism. They rely on state subsidies and governmental deals, making growth projection ever-unpredictable.
A timely example is Mao Tai (600519.SS), a state-owned premium rice wine distillery, which has been a top revenue contributor in Guizhou Province. The stock has been a bright stars of the A-share firmament until its recent slide. The company's prudent management of inventories – and therefore product pricing - was undermined when the provincial government decided that, due to its declining tax revenue, Mao Tai would need to up production, diluting its pricing premium.
With the exception of large banks, most of listed Chinese A-share SOEs pay no or low dividends. Profits are retained to grow bigger as size often times determines a manager’s personal gain and political advancement within the Party. Shareholder value is, at best, not a priority.
Despite gross inefficiencies like this, the SOE share of the total A-share market capitalization has actually increased, jumping from 65% just a decade ago to approximately 75% today. The critical challenge for the Chinese government regulators, therefore, is to shrink the share of Old Economy clunkers - e.g. banks, telecom and utilities - by increasing the proportion of stocks that reflect the economy's true engine of growth: consumption-focused companies - many of which happen to be private enterprises.
Another important characteristic of the Chinese stock market is that it is disproportionately owned by retail investors - they make up 85% of total market participants, compared with just 25% in America. This is true despite that household ownership of stocks and openings of stock accounts peaked in 2007 as the market entered a bull run between 2006 and 2007, and have yet to return to those levels. This makes the A-share market unusually susceptible to the sentiment of Chinese household. Although the economy has recovered since then, the headline numbers little reflected the bank-account realities of the average retail investor facing low real interest rates and a rapidly widening wealth gap. The confidence crisis is evidenced by the mounting rates of capital flight out of China in the last few years.
What’s more, with 70% of investors selling off shares within six months of purchase, the mainland boards are among of the most volatile in the world. For example, Shanghai Stock Exchange ranks sixth in terms of market capitalization, after NYSE, NASDAQ, London, Tokyo, and HK exchanges, but fourth in trading volume, after NYSE, NASDAQ and very close to Tokyo.
A-share volatility is exacerbated by erratic inflows of speculative capital. For instance, after the market crash in November 2008, "hot money" got burned and fled the market, thinning incipient investor demand even as the economy bounced back in 2009.
China's regulators aren't oblivious to these problems. Unlike the US's Securities Exchange Commission, the China Securities Regulatory Commission (CSRC), has the authority to intervene in market mechanics beyond the bounds of simple regulation.
For example, the CSRC recently announced a new dividend tax reduction, from 20% to 5% for long-term investors (>1 year). But since most listed companies pay no or low dividends, the policy is hardly a market-booster.
The December 2011 increase of Renminbi Qualified Foreign Institutional Investor (RQFII) program - meaning, the amount that approved foreign institutional investors can trade on mainland boards - from RMB 70 billion to RMB 200 billion, is another well-intentioned whiff. Given the superior performance of China’s nascent bond market, fixed-income products are likely to absorb a decent share of this quota if and when it is to be used.
Despite a structurally imbalanced economy and a largely inefficient equity market, China still possesses tremendous potential. Step beyond China’s coastline economies and it’s clear that the country is in but the early innings of urbanization and industrialization. The labor of some 600 million Chinese people could be harnessed to that productivity-driving process in the next two decades, and the shift of wealth inland and related economic activities could double China’s current GPD - and as soon as 2020. .
Sectors such as consumer products and services, education, pharmaceuticals and leisure travel are among those best positioned to lead China's consumption growth trend. Within those sectors there are companies that can claim solid business fundamentals. Given the overall negative market sentiment, arbitrage opportunities will present themselves to investors prepared to conduct exhaustive due diligence and to rigorously educate themselves on ins and outs of China's political economy.
But for those less equipped for this task, Chinese stock market is, more so now than ever, a “buyer beware”, the upside of which will continue to be, well, trapped.
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930c5fbf40263bcc601eaba3f76bc872 | https://www.forbes.com/sites/junwu1/2020/11/16/9-key-issues-to-consider-when-operationalize-ai-for-enterprises/ | 9 Key Issues To Consider When Operationalize AI For Enterprises | 9 Key Issues To Consider When Operationalize AI For Enterprises
Businessman Pointing Red Diminishing Arrow Over The Risk Text On Reflective Desk getty
This year, despite the challenges from the Covid-19 pandemic, large corporations in the financial industry are operationalizing their AI initiatives. Many mature organizations already have established processes. In the last few years, they've been implementing process workflows, software tools, and frameworks to quickly operationalize their models to capitalize on the changing business landscape.
However, as the business environment changed during the Covid-19 pandemic, organizations observed changes in their models' underlying assumptions. The urgency to rapidly deploy new models in a controlled environment to account for the market risks and take advantage of new opportunities proved to be challenging.
From conversations gathered from two notable roundtables from ModelOp and QuantUniversity with industry veterans from Wells Fargo, BP, Regions Bank, Vector Institute, ModelOp, and others, I’ve put together this list of key issues to consider when operationalizing AI at the enterprise level.
Rethinking Checks And Balances
In the wake of the Great Recession of 2008, banks put robust controls into place to ensure that data scientists, program managers, and corporate risk and corporate technology teams cooperate to maintain compliance. However, recent history has shown that AI models may change frequently. At the enterprise level, this calls for an even more intensive approach to governance.
Shrikant Dash, Strategic Advisor to ModelOp, says, "What I think needs to happen given the proliferation of data; given that there's a move towards more real-time digital channels; and given that there's also a proliferation of new AI and ML techniques which are more complex is that you have to strengthen those checks and balances. In addition to that, the first, second, and third lines of defense also need to have a collaborative focus with these emerging technologies. You have to understand how technology and how the architecture of modern production is changing."
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Focus on the Connectivity Between Model Development and Model Operations
Until recently, enterprises have focused much of their effort on model development, especially as business units looked to exploit advances in AI technology. The ever richer pools of data and algorithms can translate to real business value. When the business units need to deploy their production models, they then turn to corporate IT teams. By that time, they realize there's a vast gap between development and production environments. This gap can often result in 9 to 18-month lags between model creation and model deployment. Unfortunately, during that time, many models can become obsolete. Long delays between development and production mean that these models miss the window of opportunity when they can yield the most business benefits. In the worst scenario, failure to operationalize these models can undermine the entire project.
Dash says, "So this connectivity between Model Development and Model Operations will be very, very important because you can build the best possible models in a development environment. However, if you're not putting them in production seamlessly without errors and you're not able to validate and monitor them as necessary, then you have a problem."
Create New Roles and Align the Organization for Enterprise AI
Operationalizing AI requires coordination across multiple stakeholders, none of whom typically have been responsible for the end-to-end process from development to deployments to governance. Interdepartmental roles that help to bridge the gap in strategy, operations, governance, and engineering are critical to ensure the success of Enterprise AI. In this new paradigm, the Enterprise AI Architect and the Model Operator are two new roles that have been created to fill the gap in operationalizing AI at the enterprise level.
Dash says, "I think it's imperative to have these kinds of roles... I think that's an essential criterion for fully leveraging the emerging technologies… How should a CIO be thinking about either hiring people with the relevant skill sets or training people within the technology organization to focus on these kinds of investments?"
Anticipate Shorter Model Life Cycles
The pace of AI/ML technology development is accelerating, and new techniques will continue to uncover new business opportunities. There's a component of automated decision making. Simultaneously, recent events like the pandemic show how ground-truth underlying data sets can change rapidly under real-world conditions. These factors point to greater rates of changes in models and their life cycles. The impacts of shorter life cycles are further exacerbated by sharing and re-using of model components. This heightens the need for robust infrastructure and tools to automate deployment while ensuring performance and risk management standards are met.
Dash says, “If you have all those emerging new classes of models and you don't have an architecture and infrastructure to integrate that into production, and monitor them in production and have shorter cycle times, then, what have you got you've got hype, but you haven't got real value to the enterprise. So in order for the promise of these newer AI and machine learning models to deliver enterprise value, it's essential to have an architecture and infrastructure like ModelOp Center or similar technologies that people might choose in this area fully leverage these new AI/ML techniques.”
Governance is Key: Know and Anticipate the Limits of Models and Data
Historically in the financial industry, the model risk group, a part of the corporate risk organization, is the one that’s responsible for designing testing, validation, deployment of models. Those focused on model risk are increasingly thinking about how to understand model limitations. In production, it’s critical to set up performance indicators and monitor how the model can run in production. Understanding how AI/ML models run on production data is a crucial part of risk mitigation.
Agus Sudjianto, EVP, Head of Corporate Model Risk, Wells Fargo, says, “We look at it from when the model is designed, and before model deployment, we apply very rigorous discipline in terms of model deployment, model testing, and validation to look at when the model can be wrong, and the un-intended consequences of the models. That can come from the data. So, we talk about the soundness of the framework, the limitations of the model. We know that every model has a limit. How are we going to monitor it? How are we going to design the key performance indicators that we are going to monitor? What are the mitigations and controls that we can use during model deployment?”
Consider How Model Re-use and Sharing Can Have Impacts Across the Enterprise
Information technology professionals are well-versed with the development life cycle and change management of software. However, models are different than software. Each model has a distinct life cycle. Depending on the changes in real-world data, models can have short or long lifespans. Understanding the modularity and the shareability of specific parts of the model can help teams work out dependencies related to change management and risk mitigation. This means that business units also need to understand the criticality of certain types of changes that will affect other parts of the enterprise when many parts of the enterprise share models and create new models from shared model components.
Cetin Karakus, Global Head of Quantitative & Analytical Solutions, BP, says, “When we talk about change management, we need to talk about the model life cycle, to version them. More importantly, you need to have the infrastructure where you make the transition. You need to have a controlled rollout. You don’t change the production version immediately. You need to have the next version. Another thing is reusability and modularity. You usually build more complex models out of the more basic ones. That’s the key to ensure that you have a single consistent modeling approach. These are building blocks. Your assumptions will then propagate across the enterprise.”
Move to Automated Testing and Integrate it into Model Lifecycles
One of the bottlenecks for model deployment has been testing. Larger banks have automated their testing. However, smaller banks are still in the process of moving to automated testing. As the model inventory grows from thousands of models to tens of thousands of models, automated testing will become the norm.
Jacob Kosoff, Head of Model Risk, Regions Bank, says, “For us, we are trying to keep up with this massively growing inventory. Our models have doubled in the last five years, 45% in the last two years. One of the areas we’ve been leaning on has been automated testing. That’s really been helping us. We can embed the testing inside the model development life cycle. Our validation and model testing has been automatically built throughout the model development process.”
Take a Broader View of Risk and Adjust Governance Accordingly
Since Enterprise AI initiatives classify existing and new AI models to be shared and re-used as enterprise assets, higher stakes are being placed on these initiatives. With increased visibility and business impact of these models, the magnitude of unintended consequences can be amplified across the organization. The amplification adds another layer of risk. When everyone has the mindset of governing for performance in the financial industry, raising the breadth and scope of governance may be called for.
Ron Bodkin, VP AI Engineering & CIO, Vector Institute, says, “I think we have to expand our horizon a bit. Simply governing against performance is not enough. Suddenly, organizations are realizing bias can be devastating for reputational risk. Increasingly, if you don’t understand the unintended consequences, it may be higher stakes. Governance to understand across multiple metrics, what might be going wrong, not just performing well, becomes important. We see models can have impact on privacy, or longer-term interest, and can have interesting feedback loops. Thinking about a broader definition of risk is an important emerging discipline. And, thinking about how to get standardization? Thinking about governance to allow effective collaboration while respecting privacy. That can include allowing collaboration to attack financial crime. How to allow consortia of financial institutions to work together?”
Ethical AI/ML Implementations Require Rigorousness and Automation
As ethical AI and responsible implementations become the main topic of conversation in the next few years, companies are well aware of the reputational risk at stake. Regulatory compliance is serious business. Just having a Model Risk Management is not enough. The department works in conjunction with enterprise wide AI assets to mitigate and minimize risks even as the business environment change rapidly. Rigorous governance of models require automated process flows that proactively adds transparency, mitigates biases and minimizes volatility.
When process flows are automated, management can spend more time thinking through unintended consequences and gradually improve the ethical climate.
Dash says, "An important emerging issue is the question of explainability and transparency as well as ethical bias in more complex AI/ML algorithms. The regulatory frameworks for model governance require more robust documentation, validation and governance of these new models in order to mitigate outcome bias and volatility. An enterprise class solution for model governance and tracking that is more automated will minimize errors and bias in new generation AI/ML models."
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d22d022f11269d469b3ea9c4b41bde66 | https://www.forbes.com/sites/jurgenappelo/2015/12/06/growth-is-not-a-goal/ | Growth Is Not A Goal | Growth Is Not A Goal
Why do many business leaders want bigger organizations? If the purpose of a company is merely growth, it is similar to cancer. Your business should try to be the best, not the biggest.
Last week, I visited a store of the largest telecom provider in Europe to get a SIM card for a new phone. Like using their website, visiting their shop was a horrible experience. For 45 minutes, I had to wait for a guy to reboot my phone ten times, check its mobile settings repeatedly, and make several phone calls to the company's help desk. The employee was even put on hold for 15 minutes before being serviced by his colleague over the phone. And I was kept waiting. All for one tiny SIM card.
Compare this with my great experiences with the Dutch electronics store where I bought the new phone. An easy website, lots of payment options, proactive notifications, helpful track & trace feature, fast delivery, and a competent online help desk without a queue. I find their service so convenient that I refuse to try a competitor. It seems I'm not the only one because the company has grown considerably in the last few years.
There is a distinct difference between those two examples. The telecom provider has grown to its current size because of increased demand and acquisitions. The electronics store is growing because of increased demand and great service.
Too often, business leaders want their company to dominate its market. You could see it in Jack Welch's goal of GE "becoming number 1 or 2 in every market". And you could see it in Volkswagen's attempt to displace Toyota from its global throne in the automotive market. Such ambitions can work quite well, temporarily. But how well has this goal served Volkswagen lately?
Having the biggest ego, and being number one, are concrete desires for many business leaders. But for organizations, there are few valid reasons to be the biggest. If the purpose of a company is merely growth, from a systemic perspective, it is similar to cancer. The environment and the system's stakeholders are not served well with such a purpose.
I prefer businesses that strive to be the best, not the biggest.
Today, I noticed that my favorite electronics store won an award for being the best online web shop in The Netherlands several times in a row. I'm not surprised. Someday, they will be the biggest too; I'm sure. Unless, of course, growth itself becomes their goal. It would be the beginning of the end.
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29201b3d19938fc3dbce261e1905533c | https://www.forbes.com/sites/jurgenappelo/2016/01/07/measure-performance-with-a-scoreboard-index/ | Measure Performance With A Scoreboard Index | Measure Performance With A Scoreboard Index
One of the most difficult things for managers is coming up with good metrics that are an indication of the performance of the business. After all, that's what key performance indicators are supposed to be, right?
Let me give you an example:
Many customers of my business are coaches and trainers who license my courseware materials. As a manager, I want to know if our customers are happy about our offering. What should we measure?
Total number of customers makes little sense because clients aren't very interested in how many other clients we have. Only managers are obsessed with growth; customers are not. Revenue per customer could be an indicator of the value we offer, but I'm sure most clients would prefer to pay less, not more. Net promoter Score comes closer to measuring customer satisfaction, but most businesses cannot measure this (per client) on a regular basis. (I got tired of all the NPS forms I receive per week. I now ignore them all.) Engagement level of clients might be measurable for some companies, but for many others (including mine) this is tough. Besides, an angry client is engaged too. Customer success would be a useful thing to measure. In our case: the ratings and sales of workshops organized with our courseware. But most of that is beyond our visibility. Compliments are easy to measure: simply save every friendly email and tweet in a shared folder. But many people never say thanks. I must admit that I also often forget complimenting suppliers on a job well done. Recommendations (sent to others) would be better than compliments (sent to us). But again, this number is virtually impossible to obtain for most businesses.
It's quite a challenge. And we face a similar problem for all other stakeholders, such as employees, suppliers, shareholders, business partners, etc.
So, if no measure is perfect, what can you do?
It's not that difficult. The problem has been adequately solved in several other contexts. For example, what is the most commonly used key performance indicator of any market? Easy! It is the stock market index: a weighted average or total of many individual stock prices.
Within the context of your business, you can do the same. Start with a scoreboard of measurements, across all stakeholders, that are not too difficult to obtain on a regular basis, find a way to normalize and weigh them, and then calculate the average or total. You end up with your own scoreboard index.
Actual screenshot (labels removed). The black line is the index. Other colors are the component... [+] metrics. (c) 2015 Jurgen Appelo
One benefit of this indexed approach to performance measurement is that it's much easier to replace measurements without fear of discontinuity of the main metric. In all stock market indices, individual stocks are replaced quite regularly. Nobody cares about that. What people care about is the index: does it go up or down?
One index created out of many metrics, acting as a proxy for total business performance, offers the best of both worlds: workers get one thing to optimize while they can stay flexible concerning the individual component metrics. (Granted, you need someone with a knack for numbers to transform different types of measurements to similar scales. But that's easily delegated to a Friday afternoon. It took me just one coffee.)
No measurement is perfect. The danger with individual performance indicators is that people quickly become fixated on optimizing just one or two of them, particularly when they are financially incentivized to do so. This endangers the performance of the business in other dimensions. But by measuring performance using a scoreboard of perspectives, and calculating and communicating an index, gaming the system gets a lot more complicated.
The scoreboard index is an indicator that reflects performance, and it could be a key practice for your business too.
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9fcf90c7d94f80ea0df5930aa6b7336c | https://www.forbes.com/sites/justcapital/2021/03/04/billionaires-profit-during-pandemic-while-masses-suffer/?sh=1d24286b279b | Billionaires Profit During Pandemic While Masses Suffer | Billionaires Profit During Pandemic While Masses Suffer
Zainab Chaudhry, 13, and Linda Wharton, right, carry food to a car in Cumru, Pennsylvania . during a ... [+] food distribution in May, 2020 during the coronavirus / COVID-19 outbreak. People lined up in cars, but they also gave food to people who walked up. (Photo by Ben Hasty/MediaNews Group/Reading Eagle via Getty Images) MediaNews Group via Getty Images
I recently had a startling experience, one that haunts me and which I believe has major implications for the state of our economy.
I was in serious discussions with top executives at a major U.S. corporation discussing specific operating principles for stakeholder capitalism. My colleagues and I were describing how a corporation should engage in practical, constructive terms with each of seven critical stakeholders, including ways to measure progress by both management and the board. It was general enough to be applied to any corporation, big or small, valid across any industry. It is the first practical step for business since The Business Roundtable issued their seminal brief in 2019, calling for a redefinition of the corporation to serve all of its stakeholders, not just the shareholders. The top executives were very excited by the plan I shared. They had discussed it with their CEO and he agreed it was a “great idea” and they wanted to pursue it. The CEO wanted to meet with me and my partners at JUST Capital to agree on next steps. We were excited indeed to engage with their top CEO. Then, a few days later, we got word that the CEO was still very interested but given his schedule, we couldn’t meet for some 3 weeks.
Alas, this experience is not unique. 18 months after that bold statement of purpose by the BRT, talk of stakeholder capitalism is pervasive, but action is nearly absent. Most business leaders admit it’s probably a good idea. But when asked what it really means, the answers are vague. Many say they already take good care of their people. A few dared to measure just how well their people are doing and found that a large minority of their workforce were shopping using food stamps. Is that really surprising? In 2018, the Fed reported that 40% of Americans would be forced to borrow if faced with an unexpected expense of just $400. The current business governance is pressuring CEOs to allocate just over 90% of operating profit to shareholders. R&D spending is down, basic research is down, patents are down, productivity is down, wages for American workers have been flat with inflation for 40 years. As a result, nearly three-quarters of America’s workers are disconnected from their enterprises. And 13% actively work against the interests of the company. All these facts are pre-pandemic.
Then, Covid came. And it woke us all up for a while. We saw this brutal inequality live on the TV screens. The pain, the suffering, these job losses, those now homeless because they couldn’t pay their rent or their mortgages. The miles long lines of cars waiting for hours, or even days to get a box of food from the food bank. Meanwhile our shareholder primacy capitalism produced an additional $1.06 trillion dollars’ worth of wealth in just under nine months for America’s 651 billionaires according to a recent report titled, “Billionaire Bonanza” from the Institute for Policy Studies. Collectively, their net worth now exceeds 4 trillion dollars.
I find this revolting. And while I hope the spectacle that we witnessed will wake us up for a while, I’m afraid that it won’t. It certainly didn’t prompt the CEO I met with to put this issue on his agenda any quicker.
Too many corporate executives today seem content to pay lip service to the idea of stakeholder capitalism, but far too few are ready to take any definitive action. Most of us CEOs haven’t worried about communities or societies for 40 years or more, when they began following the doctrine of Milton Friedman who famously stated that the purpose of the corporate was to generate profit for the shareholder. My fellow CEOs, C-Suite mates, and families are doing just fine during the pandemic in our isolated country homes powered by the internet’s 5G juice.
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But, Capitalists, we must now awaken – and awaken for good.
A shareholder primacy governance for America business must die. The socio-economic carnage it helps produce for most Americans and society as a whole is beyond any challengeable proposition. We must embrace and protect capitalism and identify a more promising and constructive governance to produce the needed, turbocharged inclusive prosperity and growth at this pivotal moment in our history.
I’ve spent the past five years working toward this better version of capitalism and in the process became a director of JUST Capital, not-for-profit organization founded by the brilliant financial entrepreneur, Paul Tudor Jones and led by an extraordinary CEO, Martin Whittaker. JUST Capital has been in touch with over 100,000 Americans, to annually assess how Americans believe a JUST company should behave. Using this criterion, the organization then annually ranks the top 1000 corporations (the Russell 1000) by the people’s criteria. This now annual ranking has caught the attention of both the public and the media and businesses have become increasingly interested in how to become more just. It was the exact goal that JUST Capital had hoped for.
Recently, JUST Capital’s citizen/consumer driven notions of justness, The Business Roundtable principles of August 2019, and the multiple stakeholder governance “Stakeholder Capitalism” (and other efforts—conscious capitalism, inclusive capitalism, etc.) converged. Importantly, the specific criteria were remarkably similar: take care of the workers, pay them fairly, provide appropriate benefits, do not discriminate on gender, race, sexual orientation, age, etc., produce safe, quality products; care for the environment and more. Out of all this, has come a sense that stakeholder capitalism’s seven stakeholders (customers, workers, shareholders, the corporation itself, vendors/suppliers, the environment, communities) must all be considered by any corporation. There’s a process of optimizing all stakeholders. There must be measurements and transparency on how a corporation treats each stakeholder. The perspective is also one of longer-term value creation. There’s a recognition that there’s synergistic value creation capability among a number of the stakeholders. And JUST Capital has just written the operating principles for stakeholder capitalism – the very plan that was presented to the CEO who was “interested” but couldn’t make time for three weeks to learn more.
I contend that we simply cannot wait any longer.
Last year, Microsoft MSFT was number one on Just Capital’s list of companies and in accepting that award, its CEO Satya Nadella sounded to me, like an advertisement for stakeholder capitalism. He said, “I think it’s fair…in the midst of his pandemic …to essentially have a referendum on capitalism. We all have to recognize: What is the core social purpose of a corporation? I always go back to that social contract with the world around us. That, to me, is at the core of the license to operate. If you stay grounded on it, the thing that comes naturally is a sense of purpose, to be able to ask and answer that existential question: Why do we exist? It’s not the surplus you create in your enterprise, it’s the surplus that’s created around you that matters the most.”
Business leaders like Nadella are rare. The rest must become wide awake to what’s happening in America today. The inequality issue must be addressed with urgency. Business must play the lead role in this area. Business must pay people fairly, and the minimum wage must become a realistic “living wage” relative to the location where people live and work. Proper benefits are also critical. We the business community must help improve this country’s diversity, inclusion, and yes, belonging. Only a few short years away, the majority of America will become today’s “diverse” citizens. Business must set the tone and provide opportunity for these groups of non-white Americans to truly belong. We have no choice. Economically and politically we are increasingly a multiracial, multigender community and society. Our business governance must recognize this reality.
Capitalism as a system, does not need democracy to function. But any functioning democracy in the 21st Century must adopt some form of stakeholder capitalism to survive, let alone thrive. This is not an academic concern. In the next two or so years, if business does not produce inclusive growth, the new Administration will fail, and our democratic society will be at grave risk. Society and business, like it or not, are linked together. So, wake up CEOs—quickly. The future of business and the nation will depend importantly on you.
We must accept that our version of capitalism of the past 40 years has been a driver of inequality. The American spirit of entrepreneurship can lift us to new level of reimaging a society of better educated youngsters, regardless of family income, where everyone can reach ever closer to their ultimate potential. The sense of common good must return and equal opportunity can become our nation’s aspiration.
The pandemic stripped away our illusions about ourselves, our inequality, and the destructive forces of shareholder primacy. The time is now for business leaders to not just talk but embrace the idea of stakeholder capitalism and help create the road map critical to its success.
Capitalists, awake. The time to act is now.
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3fb44746ec4494cf53234df59dab176f | https://www.forbes.com/sites/justcapital/2021/03/19/we-cant-let-china-eat-our-lunch/ | We Can’t Let China Eat Our Lunch | We Can’t Let China Eat Our Lunch
BEIJING, CHINA - MARCH 02: Visitors crowd as they look and take pictures of a case holding lunar ... [+] rock and debris recently collected from the Moon by China's space program that is part of a display at the National Museum of China. China's mission to the Moon marked the first time in 40 years that fresh lunar rock samples were returned to Earth. China has been pouring billions of dollars into its ambitious space program that aims to land astronauts on the Moon by 2030. Scientists in the U.S. say the new lunar material could help to better understand the Moon's evolution. (Photo by Kevin Frayer/Getty Images) Getty Images
Last week, China made a bold move in its quest to become an innovation superpower, unveiling a five year plan to grow the country’s economy by six percent, increase spending on technology, and weaken the pro-democratic opposition in Hong Kong. Closer to home, President Biden warned that without sufficient investments in infrastructure China is a threat and issued an executive order to strengthen U.S. supply chains.
The lines have been drawn and the game is now afoot.
To stay ahead of China, the private sector must put aside short-term shareholder primacy. It must withdraw from its craving for consistently impressive quarterly upticks in profits. The 40-year reign of this philosophy, singling out the shareholder as the only worthy stakeholder, has left us with unparalleled socio-economic inequality and social immobility in degrees worse than any major nation in the developed world. In tomorrow’s world, military might alone will not protect our national security or even our ambitions for a democratic society. Inclusive economic growth must become the reimagined governance for capitalism in America and deliver turbo-charged prosperity for all Americans.
We are sorely in need of a massive and visionary plan, something similar to what we achieved with the Apollo mission or the Human Genome Project, that would coordinate the efforts of both the federal government and corporate America. Such a project would orchestrate the work of public and private sectors to lead the world in 5G innovation and technological compatibility. It would also build a working model for the same sort of public/private teamwork in other fields such as artificial intelligence, where China also wants to be the global leader and first mover.
Are we even positioned to move toward something this transformative here in the U.S.? Maybe. Reports on President Biden’s recent executive orders look to me, and others, like a trial balloon testing America’s receptivity over the issue of something like a national industrial policy. That is precisely what is needed — an organized mission to bring industry, commerce, and the government together for a concerted effort to maintain America’s leadership in technological innovation.
To begin, we must recognize that our bias for maximizing short-term returns to shareholders has hampered long-term growth for shareholders and all other stakeholders. Economic growth has been hindered by our maniacally obsessive focus on the next financial quarter. China sees all of this, and it has quietly oriented itself to take advantage of our own short-sightedness.
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Once the shareholder primacy addiction has been put to rest, there will remain the work of framing an enormous, integrated initiative from both government and key business leaders. It would require a coherent and rigorous vision for the next few decades. We need to think that far ahead. China does.
Much has been written about how we play chess while China plays Go. In the game of Go, you slowly accrete more and more command of the board, one country, one industry, one bit of intellectual property at a time. As an example, China’s game means colonizing most of Africa, cornering its oil, gas gems, metals and especially its rare earth minerals, essential ingredients for electronics, AI, clean energy sources and devices that utilize them (batteries) and more. Have we mapped out a supply chain involving Africa or other friendly regions? Do we even care? We have ceded way too much of our manufacturing expertise to China and have thus made ourselves dependent on them in a way that hampered our response to the pandemic a year ago—China became a choke point for supplies much needed to combat Covid-19. It was a case study in the need for an American industrial policy that we need to examine in depth. Much has also been written, and this is more to the point, about China’s ability to align its public and private sectors to work toward a common, national goal, decades into the future.
Let us be clear about what needs to be done. China’s economic power is generated by capitalism. That means access to capital, competent, effective, and sustainable supply chains, technology, human resources as well as any other needed resources. The other key ingredients of capitalism are the principles of prudent risk, appropriate incentives, and rewards. China’s capitalist engine has all of that. Like capitalism in America, Scandinavia or China, the basic engine that produces this growth has no conscience, no moral or ethical compass. It’s driven only to compound its own growth. Capitalism needs guidance about who benefits from the value it produces. That is the role of organizational governance. In China, its centralized in the Communist Party and its government—it establishes the control, the laws, the reward structures, and ultimately the leadership for its capitalist enterprises. In its first forty years of industrial growth, America’s companies served multiple stakeholders. Over the past four decades, corporate America has rewarded only its shareholders at the expense of nearly everyone else. For example, shareholder primacy has helped create a devastating socio-economic inequality and over time, lower levels of R&D, Basic Research, productivity, and innovation for America’s businesses. These realities, and more, gave China the opportunity to roar toward our position.
To win the economic race against China, America’s business must revive stakeholder capitalism. It worked when America was the world’s industrial leader and created our middle class as the world’s largest economic market. Today, it’s working again in many familiar companies: Microsoft MSFT , Delta, Costco, Home Depot HD , Mastercard MA , and many others. A reimagined and more democratic, as well as more just, America—with a dramatically improved educational system—will provide fuel for a new wave of entrepreneurial innovation.
We can win the economic race with China. The challenge is for us to get in the game and begin playing for the long-term, with wisdom, caring and fairness. At our best, that’s who we are.
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375fc999a9e40a3d4a80fe088c692f37 | https://www.forbes.com/sites/justinconklin/2016/04/29/spoon-u-via-youtube-black-bean-brownie-is-chocolaty-gluten-free-inception/ | Spoon U via YouTube Black Bean Brownie Is Chocolaty Gluten-Free Inception | Spoon U via YouTube Black Bean Brownie Is Chocolaty Gluten-Free Inception
A couple years ago, gluten and gluten intolerance were brought to the light of day and quickly became A Thing. While many people truly suffer from celiac disease (in which eating gluten can kill you!), there are those who magically became doctors and self-diagnosed themselves with gluten intolerance. Just like that, a trend was born!
Credit: Justin Conklin
As I’ve previously reviewed recipes on the unhealthier side of the food spectrum, I decided to close my audit at Spoon University with a healthyish recipe that’s also trendy! -- Emily Nadler of the University of Puget Sound’s take on YouTube star Katie Quinn’s Black Bean Brownie recipe did not disappoint. Much like Nadler, I too wondered if these brownies would be chocolatey Nirvana or end up being a belly flop into bean goop.
Credit: Justin Conklin
The Procedure
Nadler promised that this recipe was “a dump and go deal,” and she did not lie. All of the ingredients -- canned black beans, cocoa powder, oats , etc. -- except the chocolate chips go directly into the blender, or in my case, the food processor. I pulsed the ingredients a few times, kicked it onto low for a minute and then shifted to high until my batter was smooth and the loud whir of the food processor annoyed me.
See also: Lucky Charm Pancake Cups: The Inevitable End Of The Internet's Recipe Rainbow
After that it was simply a matter of dumping my batter into a greased dish, stirring in some chocolate chips, sprinkling more on top and dumping the pan into the oven for 30 minutes.
Ready for the oven. (Credit: Justin Conklin)
The Verdict
The brownies themselves were pretty thin in my 8x8 square baking dish so I was concerned about their doneness. I was also concerned that they would taste like chocolate beans. The flavor came out wonderfully, you can’t taste the beans at all. The texture is more of a fudgy brownie, so for those that like a more cake like brownie, you’ll want to give these a pass.
The overall cost of these brownies is roughly $7 as I only had to pick up a couple of the ingredients. I would even go out on a limb and say that these brownies were easier to make than those from a box because the food processor does all the mixing and all I had to do was dump and push a button. For the lazy inclined, this was great. This recipe also has limited sugar (in the white, granulated form as well as maple syrup) which is appealing for times when I’m trying not to rot all my teeth in one sitting.
While they are easy and taste great, I prefer a more cakey brownie. But I will definitely keep these in mind when I need to provide a dessert for people with gluten sensitivity or if I’m trying to throw some extra protein in somewhere. This Internet recipe gets four out of five stars.
See also: When Good Treats Go Bad: Flamin' Hot Cheetos Marshmallow Crispy Treats
Finished product. (Credit: Justin Conklin)
Justin's Tweaks
This recipe really doesn’t need any modification. Nadler recommends eating them with berries, whipped cream or ice cream. Those are great suggestions but my imagination has taken these one step further:
I’d love to try these with a swirl of peanut butter mixed into the batter for some extra flavor.
Summer is right around the corner. These brownies, because they’re so thin, would be kind of amazing as the chocolate layer in a s'mores. Think about it. What could go wrong??
Next time, I’ll be performing the equivalent of cooking alchemy where I take vegetables and make a traditional diary food from them.
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25236931b7a35af0552087cdef376154 | https://www.forbes.com/sites/justingerdes/2012/02/13/cap-and-trade-curbed-acid-rain-7-reasons-why-it-can-do-the-same-for-climate-change/ | Cap and Trade Curbed Acid Rain: 7 Reasons Why It Can Do The Same For Climate Change | Cap and Trade Curbed Acid Rain: 7 Reasons Why It Can Do The Same For Climate Change
A recent Harvard report reflects on the success of the SO2 allowance-trading program used to curb... [+] acid rain. The authors note that "cap and trade seems especially well suited to addressing the problem of climate change." Credit: PNNL
A candidate for president emphasizes the environment on the campaign trail. He promises to update the Clean Air Act to address a grave and growing pollution threat. He wins. Three weeks after taking office, he addresses a joint session of Congress. “The time for study alone has passed, and the time for action is now,” he declares.
If you guessed climate change was the threat and Bill Clinton or Barack Obama the speaker, guess again. The new president was George H.W. Bush, and the grave and growing threat was acid rain. Five months after uttering those words, the Bush administration sent Congress a bill that amended the Clean Air Act (CAA). Included was the architecture for the world’s first large-scale application of cap and trade to control pollution, an allowance-trading system for sulfur dioxide (SO2), the major contributor to acid rain. Bush signed the bill into law in November 1990.
A new report [“The SO2 Allowance Trading System and the Clean Air Act Amendments of 1990: Reflections on Twenty Years of Policy Innovation”; full report (PDF)] from the Harvard Environmental Economics Program, recounts this remarkable story. More important for climate policy, the report distills what policy-makers have learned 20 years after launching a market for SO2.
In May of 2011, Harvard hosted a two-day workshop, inviting economists, lawyers, and former government officials, including several who served in the H.W. Bush White House, to reflect on the performance of the SO2 trading program. Participants included Harvard’s Robert Stavins (co-author of the SO2 allowance-trading report) as well as Robert Grady, a senior official at the Office of Management and Budget under President Bush I; C. Boyden Gray, the elder Bush’s White House Counsel; Fred Krupp, President, Environmental Defense Fund; and Mary Nichols, a Clinton administration EPA official now overseeing the development of California’s soon-to-launch carbon-trading program.
If and when Republicans (and, to be fair, some coal- and oil-state Democrats) in Congress are ready to join the political fight to prevent runaway climate change, here are seven lessons learned from the cap and trade program deployed to tackle acid rain:
1) Cap and trade works:
The goal of Title IV of the Clean Air Act amendments of 1990, the Acid Rain Program, was to slash annual SO2 emissions by 10 million tons from the 1980 baseline (26 million tons). The source of much of the SO2 emitted in the United States was the nation’s fleet of coal-fired power plants. In a departure from convention, the legislation did not prescribe how power plants should slash SO2; instead, beginning in 2000, the statute capped aggregate SO2 emissions at the nation’s 3,200 coal plants at 8.95 million tons annually, a reduction of nearly 50% from 1980 levels.
At the outset, the government freely allocated (a political concession, which I’ll get to below) allowances (each unit represented a ton of SO2) to power plants. Utilities then decided how to operate under the cap, from the report:
If annual emissions at a regulated facility exceeded the allowances allocated to that facility, the facility owner could either buy allowances or reduce emissions, whether by installing pollution controls, changing the mix of fuels used to operate the facility, or by scaling back operations. If emissions at a regulated facility were reduced below its allowance allocation, the facility owner could sell the extra allowances or bank them for future use; these opportunities created incentives to find ways to reduce emissions at the lowest cost. (p.12)
Between 1990 and 2004, SO2 emissions from the power sector fell 36%, even as output from coal-fired power plants increased by 25% over the same period. The 8.95 million ton cap was reached in 2007. In 2010, by which time the cap and trade system had been augmented by the George W. Bush administration’s Clean Air Interstate Rule, SO2 emissions had fallen to 5.1 million tons.
2) Carbon trading is likely to cost less than expected:
Research presented at the May 2011 workshop showed that choosing a cap and trade program for SO2 resulted in a range of 15% - 90% savings compared to the alternatives, such as policies that might have pre-selected a preferred pollution-control technology. In 1990, the EPA had estimated that implementing the Acid Rain Program (with SO2 allowance trading) would cost $6.1 billion. By 1998, the Electric Power Research Institute, an industry-funded research organization, estimated total implementation costs at $1.7 billion; Resources for the Future’s estimate the same year was even lower, $1.1 billion.
3) Lawmakers will likely underestimate the environmental benefits:
The H.W. Bush administration and Congress took action to reduce SO2 emissions because of the acidification of lakes and streams and destruction of forests in the Northeast and Canada. A serendipitous supplementary benefit, however, were the positive implications for public health. The health benefits linked to reduced levels of particulates from lower SO2 emissions were estimated at $50 billion annually by 2010.
As routinely happens, policy-makers focused on the costs, and underestimated the benefits, of environmental protection:
Analysts failed to foresee either lower-than-expected abatement costs or the substantial human health benefits of reducing fine particulate pollution, which also originates from SO2 emissions. Had those lower costs and added benefits been fully appreciated, policy makers might have pursued an even lower SO2 cap. (p. 21) (emphasis added)
4) Constrained by a cap, emitters will innovate:
In their 1990 update to the CAA, Congress chose neither to set uniform emission limits for power plants nor to mandate the pollution-control technology to be installed. Lawmakers believed that utilities, forced to internalize the cost of waste previously emitted for free, would devise creative ways to cut SO2 emissions – which they did, pushed by the cap.
The report explains:
The greater flexibility of a market-based approach provides greater latitude for regulated entities to pursue compliance strategies that might not have been anticipated by policy makers at the outset of the program. Second … [it] creates continuous incentives for innovation, since each additional ton of reduction that can be achieved for less than the market price of an allowance creates value for the entity that produces those reductions. (p. 31 and 32)
Utilities did install scrubbers, the prevailing pollution-control technology for SO2 (more than half of currently installed scrubbers came online after the 1990 CAA), and they did so largely because of the cap. “The high cost of these systems could only be justified in expectation of non-trivial SO2 allowance prices,” the authors write. Scrubber performance subsequently improved, and the costs to operate them declined, over the past 20 years.
In some cases, utilities were able to avoid installing scrubbers altogether. The spread of new mining techniques increased the availability of low-sulfur coal. Utilities switched to low-sulfur coal, or blended it with high-sulfur coal. The latter disproved the prevailing notion that existing boilers could not accommodate significant fuel blending. “Clearly, fuel switching would not have evolved to become a significant compliance option had the government pursued a more prescriptive regulatory policy that required all emissions sources to install add-on controls,” the authors write.
5) Regional disparities can be overcome:
One obstacle lawmakers had to overcome was the reality that many of the nation’s most-polluting coal-fired power plants were clustered in the East and Midwest. Wouldn’t ratepayers in those states be disproportionately impacted by the costs utilities were projected to incur under the SO2 cap and trade scheme? (This question returned when the House debated the Waxman-Markey climate bill in 2009.)
No, as it turned out:
The SO2 allowance-trading system on the whole did not produce substantial rate differentials across regions, in part because overall compliance costs ended up being quite low, but also because coal hardly ever sets the electricity price in competitive markets. As a result, the effect of the program on marginal electricity prices was small. (p. 29)
6) A political battle is inevitable, it can be won, but victory requires presidential leadership:
Viewed through the prism of today’s noxious post-truth politics, the votes that secured passage of the CAA amendments of 1990 seem a paragon of bipartisanship. The final bill passed the House by a vote of 401-21; the Senate, 89-11. That’s not to say that the path to those votes was smooth, or the outcome assured.
Then-Senate Majority Leader Robert Byrd (one of those coal-state Democrats) had held up acid-rain legislation for years. And even though Byrd’s successor, George Mitchell, represented Maine, one of the states most affected by acid rain, he commanded neither a filibuster-proof majority nor a united caucus.
From the report:
The politics of the electric power industry was divided more along regional lines than along party or ideological lines, with coal-intensive districts in the Midwest concerned about stranded capital investments and districts in the West apprehensive of applying differential regulatory treatment to new and existing capital. (p. 36 and 37)
Now I return to those freely allocated SO2 allowances. Leaders in Congress and the H.W. Bush administration believed that the free allocation of allowances was necessary to win over fence-sitting members of Congress, particularly those from the Midwest:
Members of Congress fought intensely to increase the share of freely allocated allowances that would go to utilities in their home districts, as a means to sell the SO2 allowance-trading program to constituents. This general principle allowed for considerable political horse-trading at the margin, however—that is, awarding a few more allowances to a particular plant in a particular district while maintaining the total cap—to win support for the overall policy. (p. 27)
Reluctant lawmakers also knew that the SO2 cap and trade program was supported by the White House. Advisers Robert Grady and C. Boyden Gray were deeply involved with drafting the plan, and, as noted above, the elder Bush pledged to address acid rain during the 1988 campaign. When forced to decide how deeply to cut SO2, Bush chose the most aggressive course:
The Bush team eventually chose a ten million ton reduction policy, which was the most ambitious of the three options presented to the President by the Domestic Policy Council at the time, according to workshop participants. (The other options proposed targeted reductions of six and eight million tons.) This ten-million-ton option presented marketing opportunities: It was a double-digit number, and it represented a 50 percent reduction in emissions, both of which signified that Bush was serious about pollution reductions. (p. 22) (emphasis added)
Bush not only chose the most ambitious alternative, he did so explicitly because it was thought to be smart politically.
7) Cap and trade and CO2 are meant for each other:
The authors of the Harvard study observe, before reflecting on the acrimony of the Waxman-Markey bill debate, that cap and trade is likely more appropriate for carbon than it is for SO2:
Ironically, cap and trade seems especially well suited to addressing the problem of climate change, in that emitted greenhouse gases are evenly distributed throughout the world’s atmosphere. Recent hostility toward cap and trade in debates about U.S. climate legislation may reflect the broader political environment of the climate debate more than the substantive merits of market-based regulation. (p. 5)
The report authors argue that it is unlikely Congress or the H.W. Bush administration would have supported a 10-million-ton reduction in SO2 without the cap and trade mechanism in place.
Summing up the views of the Harvard workshop participants, they write:
The program, while not without flaws, is viewed as a success by almost all measures. Certainly it demonstrated that broad-based cap-and-trade systems can be used to achieve significant emissions reductions, that firms can navigate and regulators can enforce the compliance requirements of such systems, and that giving the private sector the flexibility to pursue a range of abatement options can simultaneously protect the environment, stimulate innovation and diffusion, and reduce aggregate costs. (p. 39)
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83807f0f7655c04919a3fd028a0b661a | https://www.forbes.com/sites/justingerdes/2012/02/24/how-nike-wal-mart-and-ikea-are-saving-money-and-slashing-carbon-by-shipping-smarter/ | How Nike, Wal-Mart And Ikea Save Money And Slash Carbon By Shipping Smarter | How Nike, Wal-Mart And Ikea Save Money And Slash Carbon By Shipping Smarter
A new Environmental Defense Fund report presents best practices of companies that are saving money... [+] and cutting carbon by shipping smarter. Credit: U.S. Department of Transportation
With the U.S. average price of diesel at $4 per gallon, companies that move goods and have not planned for $5 diesel risk seeing profit margins disappear.
A new report written by Jason Mathers, Program Manager, Corporate Partnerships Program, in Environmental Defense Fund’s Boston office, offers laggard CEOs a template to save fuel in their supply chains. The report presents best practices of companies, including giants Nike, Wal-Mart, and IKEA, that are saving money and cutting carbon by devising creative ways to ship goods.
The goal of Smart Moves (PDF), Mathers told me, was “to collect a whole bunch of stories that have been told individually, and to pull them together to paint a collective picture of action that companies could be taking with their distribution and logistics networks that will cut costs and will cut emissions.”
Aside from the threat to earnings, any CEO concerned about his or her company’s carbon footprint must account for shipping’s growing contribution to climate change, from the introduction:
The global freight transportation and distribution system accounts for nearly three billion metric tons of heat-trapping carbon emissions each year. That’s equal to over 700 coal plants or the combined total global warming pollution from Japan, Germany, Canada and Mexico. Transportation accounts for 89 percent of the environmental footprint of supply chain logistics; warehousing and distribution take up the remaining 11 percent … In the United States alone, emissions from freight are projected to increase 74 percent from 2005 to 2035. China is expected to increase its use of freight transportation fuels by more than 320 percent from 2008 to 2035.
In the report, Mathers focuses not on freight carriers (long-haul cargo planes and container ships) but on shippers, which he describes as “companies that utilize logistics services to move products but are not primarily in the freight business.” For these firms, he said, the longer-term prospect of regional or global carbon pricing is not as significant as the bottom-line-busting price of diesel. Mathers mentioned the possibility of diesel hitting $5 per gallon this year, which “is a massive cost increase for these companies.”
“The driving factor in every one of these cases was cost reduction,” he said. “One of the really great aspects of the freight space, and one of the reasons we think that freight is particularly ripe for carbon reductions today, is that there is such good synergy between cost and carbon reductions.”
“By highlighting these through the sustainability lens,” he added, “what I hope to do is to get the sustainability teams at companies to look at what some of their competitors are doing.”
In the report, Mathers describes several broad categories of best practices: shifting cargo from planes to ships, or from trucks to trains; improving inventory management practices; optimizing distribution networks; leveraging partnerships, even with competitors, to collaboratively distribute goods; rethinking the goods and packaging that make up each shipment, or changing the mix of products to optimize for space and weight; and, last, improving the energy efficiency of warehouses and distribution centers.
Mathers also notes the carbon and monetary costs company logisticians must weigh when deciding among transport options. “Planes emit 47 times more carbon per ton mile than container ships; trucks emit six times more carbon per ton mile than trains. The more carbon intensive modes typically cost more as well,” he writes. “If just 10 percent of truck shipments shifted to utilizing an intermodal strategy, one billion gallons of fuel could be saved in the United States.”
Smart Moves abounds with examples of proven strategies to cut costs and carbon in shipping. Here is a sampling:
Nike and HP: Ocean over air
In 2003, Nike decided on a cargo shift. Most of the shipments from its manufacturing facilities in Asia would now arrive in North America via ocean container ship instead of by air. The move saved Nike $8 million in 2009 alone, and served as justification for a company goal to reduce carbon emissions from inbound logistics by 30% by 2020. HP saved $7,000 and avoided 900 tons of carbon per shipment by electing to send its Visual Collaboration Studio, a telepresence conferencing system, by ocean freighter over a cargo plane.
Baxter and Levi’s: Moving goods from trucks to rail
Medical supply company Baxter increased the share of its U.S. shipments using intermodal transport – where trains carry containers long distances and trucks take over to deliver goods to the final destination – by more than 30% from 2005 to 2010, slashing carbon emissions by 14,000 metric tons. Levi’s found that a switch to intermodal transportation cut CO2 emissions by 60% in some shipping lanes.
Kenco: Postponing the final assembly of goods
Logistics services company Kenco helped a client, a kitchen and bath industry manufacturer, cut its inbound freight costs nearly in half by developing a process whereby semi-finished goods are assembled at the regional distribution center rather than the factory.
Wal-Mart: Direct shipment
Wal-Mart worked with Minute Maid to eliminate one stop in the chain used to deliver Minute Maid’s Simply Orange Juice to Wal-Mart distribution centers. Now, the product moves directly from a production facility in Florida to Wal-Mart distribution centers. Eliminating delivery to Minute Maid’s own distribution centers slashed CO2 emissions by 1,500 metric tons annually and added six days to the shelf life of the orange juice.
IKEA and Cisco Systems: Getting the most out of each move
According to the report, more than a quarter of tractor trailers on U.S. highways are running empty, and, in 2009, $186 billion worth of merchandise (8% of all sales) was returned. Clearly more needs to be done to ensure that shipments make full use of the available space in planes, trucks, and trains. IKEA eliminated air and unused space from the packaging for its GLIMMA tealight candle. After the tweak, the number of tealight packs that fit in a standard European pallet increased by 40%, reducing carbon emissions by 21%. Cisco Systems has saved more than $24 million annually from packaging improvements. One example: the company stopped including hard-copy user guides with its IP phones, directing customers to online guides instead. Now three IP phones can fit in the same shipping space where two did before.
I asked Mathers if these strategies and others detailed in Smart Moves had buy-in from C-level executives. “None of this stuff that we see would be happening unless there was senior-level support,” he said. “Senior-level folks clearly see the driving factors of an incredibly competitive environment, the need to be bringing in constantly new and the best talent, increasing expectations from their customers and shareholders about environmental sustainability, and increasing energy costs.”
“We’ve entered into a phase where transportation costs are becoming more and more significant,” he said.
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