Summary of “To Become a Better Investor, Think Like Darwin”

“It’s not surprising that the fight-or-flight response is not going to be the most helpful way to deal with a financial crash in the same way that it’s going to be helpful when you’re being attacked in a back alley. It’s because financial markets and financial threats are a relatively new phenomenon.” Photo by Kenishirotie / Shutterstock.
Steer clear of single stocks altogether, and simply buy “The market,” meaning an exchange-traded or mutual fund that passively tracks the performance of the entire stock market.
“Put less money into equities when markets are freaking out and leave money in equities when markets are more normal.”
A key premise is that markets evolve, like species, but much faster: “Evolution at the speed of thought.” And that this evolution happens in fits and starts, in response to changes in the environment-hence, what he calls the “Adaptive” markets hypothesis.
We have French investors investing in Europe’s residential real estate during the financial crisis because the mutual funds and international holdings and capital flow restrictions are being eased; you’ve got a changing set of species that are participating in financial markets.
How does the adaptive markets hypothesis address the shortcomings of the efficient markets hypothesis?
The efficient markets hypothesis is a special case of adaptive markets.
You tell me: How many investors do you know who would be perfectly happy and calm about watching half of their investment evaporate before their very eyes, while at the same time listening to news reports about Lehman going under, about Bernie Madoff in December of 2008, about financial markets coming to a halt, about Hank Paulson showing up on TV with a frightened face? If you think about how humans react, the advice that we give them-while it may be good advice if we really, truly stuck to it-it’s not realistic to expect humans to act in that way.

The orginal article.

Summary of “The 7 Basic Human Needs That Successful Businesses Focus On”

Let’s start with the concept of basic human needs.
The famous economist Manfred Max Neef said, “That the aim of development must be neither producerism not consumerism, but the satisfaction of fundamental human needs, which are not only needs of humanity, but needs of being as well.”
Neef created the ‘Human Scale Development,’ which states, among other things, the following two assumptions: First, fundamental human needs are finite, being limited in number and classifiable.
Second, Neef stated that fundamental human needs are the same in all cultures and in all historical periods.
The idea that all of us, as human beings, have basic needs can be quite revolutionary, especially when you grow up in a society that imposes needs, represented by “Shoulds” and “Should-nots” passed down by previous generations.
These highly successful companies learned early on the importance of connecting their business directly to human needs.
If your main needs are connection and expression, then you want to market to groups that also prioritize those needs.
Once you have identified your own needs and your chosen market and its needs, then it’s time to define your company’s values and needs.

The orginal article.

Summary of “The Illegal Ramen Vendors of Postwar Tokyo”

In this bustling environment, vendors announced their presence with the distinctive sound of charumera flutes and sold ramen from a yatai, a wheeled food cart filled with drawers containing noodles, pork slices and garnishes, alongside pots of boiling soup and water.
So flour for ramen was secretly diverted from flour milling companies into the black markets, where nearly 90 percent of street stalls were under the control of the yakuza, who extorted the vendors for protection money.
Thousands of ramen vendors were arrested during the occupation.
The government started to loosen its restrictions on food vending and removed controls on the exchange of wheat flour, which further boosted the number of ramen vendors.
According to Jonathan Garcia, a ramen class instructor at Osakana in Brooklyn, New York, ramen during this time was a shoyu based soup, made from a combination of pork, chicken, and niboshi.
Foods rich in fat and strong flavors became known as “Stamina food,” according to Professor George Solt, author of The Untold History of Ramen.
Ramen is arguably Japan’s most popular food today, with Tokyo alone containing around 5,000 ramen shops.
The past combination of economic necessity, American wheat, and Chinese culinary influence propelled ramen into the mainstream, and in turn, forever changed the way Japan ate.

The orginal article.

Summary of “The Illegal Ramen Vendors of Postwar Tokyo”

In this bustling environment, vendors announced their presence with the distinctive sound of charumera flutes and sold ramen from a yatai, a wheeled food cart filled with drawers containing noodles, pork slices and garnishes, alongside pots of boiling soup and water.
So flour for ramen was secretly diverted from flour milling companies into the black markets, where nearly 90 percent of street stalls were under the control of the yakuza, who extorted the vendors for protection money.
Thousands of ramen vendors were arrested during the occupation.
The government started to loosen its restrictions on food vending and removed controls on the exchange of wheat flour, which further boosted the number of ramen vendors.
According to Jonathan Garcia, a ramen class instructor at Osakana in Brooklyn, New York, ramen during this time was a shoyu based soup, made from a combination of pork, chicken, and niboshi.
Foods rich in fat and strong flavors became known as “Stamina food,” according to Professor George Solt, author of The Untold History of Ramen.
Ramen is arguably Japan’s most popular food today, with Tokyo alone containing around 5,000 ramen shops.
The past combination of economic necessity, American wheat, and Chinese culinary influence propelled ramen into the mainstream, and in turn, forever changed the way Japan ate.

The orginal article.

Summary of “The Last Robot-Proof Job in America?”

The company is based not in a Silicon Valley lab but inside the Fulton Fish Market, a two-hundred-year-old seafood wholesale market that was once situated in lower Manhattan and is now at Hunts Point, in the Bronx.
The fish is shipped fresh, rather than frozen, thanks to an Amazon-esque warehousing-and-logistics system.
Mike Spindler, the company’s C.E.O., said recently, “I can get a fish to Warren Buffett in Omaha, Nebraska, that’s as fresh as if he’d walked down to the pier and bought it that morning.”
There is one thing that the sophisticated logistics system cannot do: pick out a fish.
If Warren Buffett orders a red snapper, the company needs to insure that his fish is fresh, fairly priced, and actually an American red snapper-and not some other, day-old red fish that a vender is trying to pass off.
So if DiGregorio makes a choice it didn’t predict, it asks, ” ‘Was the fish not available? Was it damaged? Did you find something fresher elsewhere?’ All that information is fed back in for next time.
“There were still boats coming in. Saloons on every corner. I got out of the truck and I looked around: men, fish, boats, fights, drinks. I said, ‘I’m staying!'”.
DiGregorio took the bag and headed for FultonFishMarket.com’s receiving station, where the fish would be scanned, weighed, temped, assigned a bar code, and Cryovac-sealed.

The orginal article.

Summary of “How the rich get spending money: Locking fine art in storage and borrowing against it”

Welcome to the multimillion-dollar collection of Art Lending Fund LLC , a Westwood investment fund that doesn’t own the works but has a secured a lien against each piece in case the owner can’t pay up.
That’s because the art serves as collateral in exchange for loans from the fund run by Los Angeles money manager Alan Snyder.
That decision made Snyder one of the latest entrants in a growing but volatile corner of the art market, where the mingling of fine art and big money is attracting more and more financial players looking for an angle.
Jeffrey Deitch, a former chief of L.A.’s Museum of Contemporary Art and owner of a gallery in Hollywood, is shown at Frieze Los Angeles, a contemporary art fair at Paramount Pictures Studios, in February.
The art market has experienced a compound annual growth rate of 8.8% from 1950 to 2018, according to Sotheby’s Mei Moses Art Indices, which tracks repeat sales of individual art works.
Possessing the art – he takes pleasure in saying – “Warms my black heart the most.” And, he’ll extract a legally binding personal financial guarantee allowing him to seize other assets if the sale of the art doesn’t cover what’s owed on the loan in the event of a default.
Like most art-secured lenders, Snyder lends a maximum of half the appraised value of the art to protect against any sudden downturn in the market or in a particular artist.
It’s estimated that only 1% of fine art held by collectors has been leveraged, while the total estimated value of art held by ultra-high-net-worth collectors is $1.62 trillion.

The orginal article.

Summary of “New York’s new malls: Hudson Yards, Empire Outlets, and more”

I have been to the Shops and Restaurants at Hudson Yards six times-six times-and yet I’m still getting lost.
Since a half dozen new retail hubs have opened in New York City over the past five years, it was time to survey the field, starting with the biggest fish, Hudson Yards, and proceeding south.
SHoP Architects has three mall(ish) projects in the process of opening: Pier 17 at South Street Seaport, replacing a marketplace by the same architects as Boston’s Faneuil Hall; Essex Market and the Market Line, the food-forward retail spaces that are part of the giant Essex Crossing development on the Lower East Side; and Empire Outlets, the city’s first outlet mall, next to the ferry terminal on Staten Island.
As I strolled, escalatored, and snacked, I kept thinking of more malls to add to the list: after the supposed retail apocalypse, suddenly everyone’s shopping.
When Hudson leads me through the shopping center at Hudson Yards, the path feels smooth as silk: Head up the escalators to the right of the Vessel-facing entrance, and from there, two more escalators beckon: one leading east toward stores, the other north toward the restaurants.
We pass Milk & Honey Babies, a New Jersey children’s store that the Related team recruited, as well as Batch, a shop that refreshes its theme and inventory every couple of months; it’s one of a number of internet brands made brick-and-mortar.
Since the Shops opened in March, more than 3 million people have visited, according to Related.
If you do have bulk shopping to do, I would wait for Empire Outlets to fill in, but at least its bones look good.

The orginal article.

Summary of “A Study of More Than 250 Platforms Reveals Why Most Fail”

In our newly-published book, we divide all platforms into two types: Innovation platforms enable third-party firms to add complementary products and services to a core product or technology.
The problem is that platforms fail at an alarming rate.
To understand why and how platforms fail, we tried to identify as many failed American platforms as possible over the last twenty years that competed with the 43 successful platforms.
Firms may have to throw commonsense pricing out the window when two or more platforms are racing to create a network effect.
Platforms also require two or more parties, who may or may not know each other, to connect.
A common misconception about platforms is that once the market tips in your favor, you will be the long-run winner.
Despite the huge upside opportunities that platforms offered, pursuing a platform strategy does not necessarily improve the odds of success as a business.
While Uber is still struggling to make the economics work, Google, Facebook, eBay, Amazon, Alibaba, Tencent, and many other platforms started by aggressively subsidizing at least one side of the market and made the transition to high profits.

The orginal article.

Summary of “These startups are chasing the $70 billion business of sleep aids”

These startups are chasing the $70 billion business of sleep aids.
Initially, many of these sleep tools were tech gadgets, including sleep trackers, apps, lights, and noisemakers, many of which I tested for a story in 2017.
Part of the reason today’s consumers are so eager to buy sleep aids is that they appear to be more willing than generations past to acknowledge their own mental health, and take charge of it.
“There are brands like Casper and Brooklinen that are creating products for you to sleep on, but there’s this separate market of sleep aids which are really part of the anxiety economy,” says Hamm.
“In some ways, the sleep aids industry springs out of the mental health industry, and more consumers are willing to acknowledge that they struggle with psychological issues like stress.”
In its report, the firm made the case that this was because of two factors: “The growing incidence of sleep disorders and rising initiatives by several government and non-government organizations for increasing awareness about sleep disorders and sleep hygiene.”
The global wellness industry is now worth $4.2 trillion, as consumers around the world invest in products that claim to promote wellness, from fitness classes to better food to sleep aids.
The well-off generally sleep more, and if they struggle with insomnia, they can afford to shell out hundreds of dollars on sleep aids.

The orginal article.

Summary of “This 19-Year-Old Entrepreneur Is Exposing the Secrets of the Billion Dollar Underground Sneaker Market”

Sneaker guru Brandon Webb shares his insights on flipping limited-edition kicks, a niche business that can have 1000% profit margins.
The 19 year old based in Los Angeles is the founder of Hypluxe, a members-only community that teaches sales secrets of the massive secondary market for limited-edition sneakers.
As Webb explained to Entrepreneur, “In 2018 Nike released one of the most coveted sneakers to date, the Off-White Air Jordan 1 ‘White’, for just $190. Today, it will cost you upwards of $3,000 on the resale market to get your hands on a single pair.”
With exclusive sneakers releasing nearly every week, insiders estimate that this secondary market is doing $1 billion in sales.
“It all comes down to supply and demand. Companies like Nike and Adidas release exclusive sneakers in collaboration with celebrities and artists like Virgil Abloh and Kanye West, as well as updated versions of classic models. Resellers know these sneakers will sell out, and so does everyone who wants to wear them. The combination of limited availability and hype drives prices through the roof on the secondary market.”
“This is probably the easiest thing about what I do. Years ago it was a different story, but today there are dedicated marketplaces for sneakers, such as StockX, Hypremium, and GOAT, so you do everything from an app. It makes the whole process seamless and ensures authenticity for both the buyer and the seller. These apps basically act as stock markets for sneakers – it results in pretty consistent resale prices and makes selling easier than ever. When I need to move hundreds or thousands of pairs, I usually sell them directly to a bulk buyer for convenience.”
“For beginners, if you’re serious, you can easily make an extra few thousand a month doing it as a side job. A lot of the people I mentor are college students who just resell casually and make a decent income. Sneakers release all the time, and what is great is if you buy something that you can’t flip for some reason, you can just return it for free. Nothing to lose.”
Have any of the major sneaker companies tried to stop you?

The orginal article.