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Richard A. Chance

Good afternoon.

Economics Nobel prize

The Nobel prize for economic sciences was announced. The joint winners are Abhijit Banerjee, Esther Duflo, and Michael Kremer, for their work in alleviating global poverty.

Three professors won the 2019 Nobel prize for economics for their work on fighting poverty

In India, where he was born and completed his early studies, the praise for Banerjee might be grudging, at best. He is not a supporter of the current government and has been a dissenting voice on several key issues. As I write this, the prime minister, so prolific on social media, is yet to offer any

In India, where he was born and completed his early studies, the praise for Banerjee might be grudging, at best. He is not a supporter of the current government and has been a dissenting voice on several key issues. As I write this, the prime minister, so prolific on social media, is yet to offer any congratulations to only the tenth Nobel laureate of Indian origin.

The last Nobel for poverty alleviation went to Muhammad Yunus, the Bangladeshi social entrepreneur, banker and economist, for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. But he didn’t get an economics Nobel. He won the Peace Prize. It seems significant that

The last Nobel for poverty alleviation went to Muhammad Yunus, the Bangladeshi social entrepreneur, banker and economist, for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. But he didn’t get an economics Nobel. He won the Peace Prize. It seems significant that the work of Esther Duflo and her longtime collaborator and partner Abhijit Banerjee (as well as Michael Kremer) has been recognised in this way. That too, just days ahead of the UN’s International Day for the Eradication of Poverty, a rather anodyne designation, but now given a new focus. A different-strokes-for-different-folks approach that truly tries to understood how the poor make decisions about housing, healthcare, hygiene products even.

What comes after the iPhone?

Apple’s streaming service is surrounded by questions. We know that Apple TV+ will cost $4.99, that it’ll launch on Nov. 1 with eight original series, and that it won’t have ads. But most of the rest is still a mystery.

Trying to dominate TV is like nothing Apple has ever done before

It is smart to offer the service at $5/month...

I am not convinced that Apple will dominate original content out of the gate. It would depend heavily upon personnel. Everyone loves to festoon Netflix and Amazon with developmental praise but from what I’ve seen, most of their best content is leftovers

It is smart to offer the service at $5/month...

I am not convinced that Apple will dominate original content out of the gate. It would depend heavily upon personnel. Everyone loves to festoon Netflix and Amazon with developmental praise but from what I’ve seen, most of their best content is leftovers from things developed elsewhere. I truly believe that unless you bring on the behind-the-scenes creatives, your front-of-house content will not have the same depth and stamina boasted by the long term heavy hitters like HBO. Not to mention half of what Netflix distributes was created entirely independent of the studio, which is cool and great but doesn’t prove that the newcomers have the secret sauce recipe. It just indicates they can recognize another’s well conceived ideas and then distribute them, which is a very smart way to build your catalogue and brand loyalty while waiting for the truly original content to resonate. Apple doesn’t have a catalogue and the current trend of pulling libraries is likely to continue.

Apple did right to bring over some great industry heavy hitters but imagining yourself as a direct competitor of HBO is a bit like me taking my first novel to Random House.

Online in China

CEO-ing

Marathon records shattered

Eliud Kipchoge broke the two-hour marathon barrier. But it took a team of 42 other runners and one electric car to keep the 34-year-old Kenyan on pace to finish in 1 hour 59 minutes and 40 seconds.

It took 43 of the world’s fastest runners to break the 2-hour marathon barrier

Most people will only remember Kipchoge, but there was a dream team of world class runners surrounding him yesterday. Perhaps the event should also be remembered for the massive collection of talent that put their egos to the side to help him do the seemingly impossible.

Amazing effort by all involved. Kipchoge is a phenomenal athlete, one of the best runners of all time. This was a great use of strategy and technology, as well as his sheer will to achieve the impossible, to push him past the limit.

Turkey attacks Syrian Kurds

Russia bombed hospitals in Syria. A New York Times investigation found the attacks were part of a coordinated strategy to stamp out resistance to Syrian president Bashar al-Assad.

12 Hours. 4 Syrian Hospitals Bombed. One Culprit: Russia.

Four hospitals bombed in just 12 hours – all four of which were on the UN’s deconfliction list, meaning Russian and Syrian forces knew exactly what they were targeting, knew that doctors and patients would die, and they still destroyed them. Impunity is what happens when generals and despots believe

Four hospitals bombed in just 12 hours – all four of which were on the UN’s deconfliction list, meaning Russian and Syrian forces knew exactly what they were targeting, knew that doctors and patients would die, and they still destroyed them. Impunity is what happens when generals and despots believe the rules don’t matter and that they will face no consequences for violating them. These attacks make it clear that we’re living in an Age of Impunity.

Brexit fatigue

Brexit negotiators make a last-ditch effort to cut a deal. Discussions are in overdrive ahead of Thursday and Friday's European Council summit. But the continent is tired of reading about it, and the media has moved on in Paris, Rome, and Madrid.

Brexit negotiations are heating up for real, but the continent is tired of reading about it

As I was going through the news this morning for my weekend shift, it was obvious that Brexit was a still a big story in London, but not so much in Rome or Paris. That’s even though the negotiations are maybe, possibly, potentially, finally getting somewhere. Everyone has Brexit fatigue at this point

As I was going through the news this morning for my weekend shift, it was obvious that Brexit was a still a big story in London, but not so much in Rome or Paris. That’s even though the negotiations are maybe, possibly, potentially, finally getting somewhere. Everyone has Brexit fatigue at this point, but that’s doesn’t mean it’s not important.

Free Willy

Come back soon

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The Truth About the Gig Economy

Uber and similar companies aren’t driving huge changes in the way that Americans make a living.

Read more on The Atlantic

From Our Members

  • What data doesn’t always show is the backstory behind WHY certain workers are ‘choosing’ gig jobs- are they stopgaps while unemployed involuntarily? Are they a great option for new parents who want the flexibility and may or may not ever go back to the full time job? Are they a way to pay the bills for

    What data doesn’t always show is the backstory behind WHY certain workers are ‘choosing’ gig jobs- are they stopgaps while unemployed involuntarily? Are they a great option for new parents who want the flexibility and may or may not ever go back to the full time job? Are they a way to pay the bills for an entrepreneur starting a company? Are they just a lifestyle choice for young people - or semi retired older people who love having the option? Too many variables.. but this quote does ring true- “ The gig economy was providing a lot of work but not a lot of jobs, in other words.”

  • The way to minimize the shift even more is by allowing gig workers to receive portable benefits from different platforms like Uber or Handy or Instacart. Being a 1099 shouldn’t prevent you from getting benefits, yet most state laws prohibit it.

  • The Small Business Agency has predicted the numbers of flex workers will grow from 36M to 43M . The issue is this: the flex workers of the past 10 years are recent college grads who need to pay for school and get job experience. Today, flex workers are older generations who are used to working a single

    The Small Business Agency has predicted the numbers of flex workers will grow from 36M to 43M . The issue is this: the flex workers of the past 10 years are recent college grads who need to pay for school and get job experience. Today, flex workers are older generations who are used to working a single job and were let go. They are taking a six month consulting job or lean on unemployment until the next gig, with an odd job here and there. Older generations may not be so excited about taking risks of college aged kids, are at the same level of health as those 20-40 years younger or are working around obligations taking care of parents and grandkids. Some don’t have the ability to drive, much less carry packages over 30 lbs. Getting paid $50 for a 3 hour shift delivering and spending $35 for gas makes no sense financially.

    We need to rethink this a bit more before the corporations shed their employees-as we don’t have the infrastructure ready for this paradigm shift.

  • Almost every promise about the gig economy has been overstated. Now we have to decide what to do about it.

  • The gig economy is something to be appreciated because it serves as a cushion between the fast-growing tech/automation future and the traditional economy.

    It is essential while we prepare the people of tomorrow for future jobs/world.

    The large generation gap coming from technological advancement brought

    The gig economy is something to be appreciated because it serves as a cushion between the fast-growing tech/automation future and the traditional economy.

    It is essential while we prepare the people of tomorrow for future jobs/world.

    The large generation gap coming from technological advancement brought about this Gig Economy. The magic freehand working if you would ask me.

  • Like all change it does not happen all at once and the fact those who use it most are older workers who have been released by downsizing or a collapse of a firm makes sense and should inform the future. Again for clarity I do not know what the future will bring but we are still in a relatively strong

    Like all change it does not happen all at once and the fact those who use it most are older workers who have been released by downsizing or a collapse of a firm makes sense and should inform the future. Again for clarity I do not know what the future will bring but we are still in a relatively strong economy and companies that we thought would collapse are still with us but we do not know which firms survive the next economic downturn. As younger workers prepare for a life where relatively few workers will work for only one or two companies in the lifetimes I would expect the gig economy to expand as benefits disappear at medium and large firms. I suspect there are not many firms with the relatively rich benefits packages of 15 years ago and before the Great Recession and those providing deep benefits may be a thing of the past.

  • Oh yes. People salaries have lower and lower purchase value that is why they need the gigs. Shareholders will need to share or face the consequences.

    “Uber and similar companies were not and are not driving tidal changes in the way that Americans make a living. Wild predictions aside, it was always clear

    Oh yes. People salaries have lower and lower purchase value that is why they need the gigs. Shareholders will need to share or face the consequences.

    “Uber and similar companies were not and are not driving tidal changes in the way that Americans make a living. Wild predictions aside, it was always clear that many gig workers were taking on these kinds of jobs as a temporary stopgap or as a way to supplement their income, rather than as a substitute for a full-time position.”

  • I drove for Uber for one day, just out of curiosity. I drove for 9 hours. During that 9 hours I made $70, of that $70 I spent $20 on gas. My profit was $50, or about $5.55 per hour. I made $6 per hour at my first job as a roofing laborer when I was 16 years old back in 1995. You can make more money panhandling

    I drove for Uber for one day, just out of curiosity. I drove for 9 hours. During that 9 hours I made $70, of that $70 I spent $20 on gas. My profit was $50, or about $5.55 per hour. I made $6 per hour at my first job as a roofing laborer when I was 16 years old back in 1995. You can make more money panhandling than you can driving for this company.