Economics or the dismal science was something I felt that I needed to include as it provides the context for business and consumption.
Prior to the 20th century, economics was the pursuit of gentleman scholars. The foundation of it is considered to be Adam Smith when he published is work An Inquiry into the Nature and Causes of the Wealth of Nations. Smith outlined one of the core tenets of classical economics: each individual is driven by self-interest and can exert only a negligible influence on prices. And it was the start of assumptions that economists model around that don’t mirror real life all the time.
What really is a rational decision maker? Do consumers always make rational decisions? Do they make decisions that maximise their economic benefit?
The problem is that they might do actions that are rational to them:
Reducing choice when they are overwhelmed
Looking for a little luxury to comfort them over time. Which was the sales of Cadbury chocolate and Revlon lipstick were known to rise in a recession
Luxury goods in general make little sense from a ration decision point of view until you realise the value of what they signal
Having a smartphone yet buying watches. Japanese consumers were known to still buy watches to show that they care about the time to employers when they could easily check their smartphone screen
All of which makes the subject area of high interest to me as a marketer. It also explains the amount of focus now being done by economists on the behavioural aspect of things.
Japanese soft power didn’t start with anime, manga or even Sonny Chiba. Asianometry posted a video covering how Japanese soft power was manifested in the 19th century through a mix of planning and happy accident.
Japan benefited from a sophisticated artisan culture for everything from food and drink to metal working.
Wikileaks
Talking about soft power. Task and Purpose goes back and looks at Wikileaks. This is interesting as it reflects on the US viewpoint of pro-Russian bias with the work Wikileaks did disclosing both Chinese and Russian secrets. The biggest legacy was likely reinvigorating investigative journalism at mainstream media outlets that had been cut back over the previous decade or so.
VFDs
Dutch YouTuber posts a love letter to VFDs or vacuum fluorescent displays. They were featured on stereos, VCRs, Blu Ray players and my Bose Wave (you can get your own one here). They feel nicer than LCD displays, don’t look cheap and don’t affect your sleep.
Streaming culture in China
While most people think about streaming is China’s e-commerce. But the offering of the streamer featured in this documentary is more ambiguous. Her audience feel some sort of romantic attachment to her. ‘Inside the Daily Life of a Live Streaming Star in China’ is as much about the imbalance in male and females in China due to the one-child policy.
It reminded me of Japanese and Korean ‘idol‘ culture, but designed for the mobile addicted COVID traumatised young adults. Buffeted by societal expectations and the economic issues by the government pivot away from economic growth to internal and external control.
Men
Scott Galloway has an interesting prognosis on the current crisis in the male population which seems to be in a socio-economic death spiral. I am not convinced by his solution. It’s very male-centred and assumes that parenting isn’t broken.
Æon Flux’s surprisingly modern take on privacy and surveillance. | Slate – Æon Flux was a name that I hadn’t heard in at least a decade. I remember when it came out as I enjoyed cable TV in our student house. It fitted in with the wider cyber culture. The big beats and brash gravity defying visuals were everywhere from WipeOut to anime. The media was tech artefacts from a future counter-culture.
Macromedia Director and Flash produced animated video hardwired straight into our cortex. It was psychedelia but not as it had been experienced before. Asian animated and real world films weren’t mainstream but serious culture.
Æon Flux & The Matrix
The series came out in the early 1990s as part of a series of experimental animation on MTV called Liquid Television. It came out before The Matrix, yet drew from many similar influences:
Cyberpunk
Biopunk
Anime
Asian ‘gun fu’ action films
European comics in particular the space opera works of Möbius, Mézières & Christin. You can also see the influence that Chung had working with Ralph Bakshi on his fantasy animation
Gnostic beliefs
In another Matrix link; Æon Flux creator Peter Chung (피터 정) went on to create a segment for the Wachowskis’ The Animatrix which told part of the back story of The Matrix quadrology.
Privacy and the surveillance state
Each episode saw a conflict play out between an anarchic city and its authoritarian rival. Flux was an assassin from the anarchic city on undercover missions.
The animated series had been released on VHS, DVD and UMD – the Sony Playstation Portable (PSP) disk media that was the ultimate manifestation of cyberpunk storage. For some reason, it hasn’t been released on Blu-Ray yet.
It was truly transmedia with computer games and graphic novels to complement the animated series. Eventually Hollywood did a live action version that was vaguely related to the original Æon Flux. The original was too difficult and avant garde to be a Hollywood franchise, which is probably why the animated version has slipped back out of view.
Given that Æon Flux was influenced by cyberpunk was inevitably seen as a prescient take on privacy and the surveillance state.
Consumer behaviour
Taking Affection Back | No Mercy / No Malice – some interesting and intractable problems in society revolving around how men are set up for failure. Contrast the diagnosis with this article: The Great Feminization of the American University | City Journal – Female students and administrators often exist in a co-dependent relationship, united by the concepts of victim identity and of trauma. For university females, there is not, apparently, strength in numbers. The more females’ ranks increase, the more we hear about a mass nervous breakdown on campus. Female students disproportionately patronize the burgeoning university wellness centers, massage therapies, relaxation oases, calming corners, and healing circles. Another newly installed female college president, Dartmouth’s Sian Leah Beilock, claims that the two “most pressing challenges of our time” are the “mental crisis among young people” and climate change. College institutions “really have a part to play in how we support students” suffering from that mental health crisis – correlation and causality aren’t the same thing
Why social class is advertising’s biggest diversity blind spot | Advertising | Campaign Asia – Social class might bring up antiquated ideas of British snobbery, but it exists everywhere. In Asia, social class is very pronounced. From obscenely wealthy ‘Crazy Rich Asian’ types, to a much reported on ‘rising middle class’, and a majority who are working class or live in poverty. The pandemic certainly brought class differences in Asia into sharp focus. Yet, despite making up the majority in society, advertising often fails to represent working class people. And when adverts do feature working class people, they usually perpetuate class-based stereotypes. Instead, the advertising industry is obsessed with targeting middle-class 18 to 34-year-olds, resulting in advertisements that seem to overlook the genuine diversity of society and instead mirror adland’s own demographic.
話題のChatGPTをLINEで使える「AIチャットくん」リリースから3日で20万登録突破 | みんなの便利な使用例を紹介 #AIチャットくん｜株式会社piconのプレスリリース – LINE adds ChatGPT gains 200,000 users in 3 days. ChatGPT speaks and understands Japanese, but uptake in Japan has been hampered, apparently, because you need to speak English to sign up. Line is the dominant messaging platform in Japan, and last week they added ChatGPT. You just add “AI Chat-kun” as a friend and start chatting. Up to five messages per day are free, and you can upgrade to unlimited messages for ¥680/month (about $5).
The Daring Ruse That Exposed China’s Campaign to Steal American Secrets – The New York Times – China publicly denies engaging in economic espionage, Chinese officials will indirectly acknowledge behind closed doors that the theft of intellectual property from overseas is state policy. James Lewis, a former diplomat now at the Center for Strategic and International Studies in Washington, recalls participating in a meeting in 2014 or so at which Chinese and American government representatives, including an officer from the People’s Liberation Army, discussed the subject. “An assistant secretary from the U.S. Department of Defense was explaining: Look, spying is OK — we spy, you spy, everybody spies, but it’s for political and military purposes,” Lewis recounted for me. “It’s for national security. What we object to is your economic espionage. And a senior P.L.A. colonel said: Well, wait. We don’t draw the line between national security and economic espionage the way you do. Anything that builds our economy is good for our national security.” The U.S. government’s response increasingly appears to be a mirror image of the Chinese perspective: In the view of U.S. officials, the threat posed to America’s economic interests by Chinese espionage is a threat to American national security.
Dow said it was recycling our shoes. We found them in Indonesia | Reuters – Reuters put trackers in usable secondhand shoes to see where they would end up. The main gist of the story is that Dow recycling effort was a failure, which is also embarrassing for their partner the Singapore government.
The idea was the sneakers would be made into playground surfaces. Reuters seems to have stopped investigating the story of Dow recycling shoes, but I was left with more questions about Dow recycling than answers from the Reuters report:
Were some of the shoes more distressed than others?
Do Reuters know what happens to unwearable sneakers that enter the Dow recycling process?
Is it more ethical to sell on lightly used shoes as affordable footwear to Indonesians or recycle them regardless? Reuters doesn’t have an answer to this issue
UK struggles with transition to manufacturing electric cars | Financial Times – foreign carmakers’ core concern is that Britain’s reputation as a stable and pragmatic place in which to manufacture vehicles has been shattered, initially by the 2016 Brexit vote, and more recently by last year’s political turmoil at Westminster. “They are asking whether the UK is a stable partner,” said one person close to the Japanese companies. – Brixiteer economic expert Patrick Minford openly discussed the demise of the car manufacturing industry
Women and ethnic minorities overrepresented in advertising industry, finds report – Women and ethnic minorities are now overrepresented in the UK advertising industry following a decades-long push to improve diversity, according to a new survey. A 2022 census found that an estimated 55pc of employees in the sector were women, compared to 45pc who were men. That was after the number of women increased from an estimated 11,600 to 14,400, an increase of 24pc, the Institute of Practitioners in Advertising (IPA) said. At the same time, the proportion of non-white employees increased by almost one third to 24pc, compared to 18pc a year earlier. Women made up 51pc of the population in England and Wales in 2021, according to the Office for National Statistics, while non-white ethnic groups comprised about 18pc. In London, where most of the UK’s advertising industry is concentrated, non-white ethnic groups represent roughly 46pc of the population. The IPA said there was more work to do on diversity, as women still only get just over one third of executive jobs in the ad industry, while non-white individuals only occupy 11pc of roles. – Daily Telegraph on how it feels that ‘woke’ addend risks becoming ‘out of touch’ with the British public, but doesn’t manage to make its argument very well.
Walt Disney vs Ron DeSantis: who really won the ‘Don’t Say Gay’ dust-up? | Financial Times – Instead of candidates with backgrounds in economic development or tourism, he packed the board with political allies. Two of them are leading lights in the culture wars that have helped DeSantis build a national profile ahead of a presumed run for the 2024 Republican presidential nomination. Among them is Bridget Ziegler, co-founder of the conservative Moms for Liberty group and a champion of Florida’s Parental Rights in Education law, dubbed “Don’t Say Gay” – Disneyland Florida is pretty screwed
YouTuber aini does good videos that analyse sociological and cultural subjects, so a video on East Asian beauty standards was inevitable. East Asian beauty standards are even more important now due to the cultural impact that they have:
Korean and Japanese beauty products that have become popular from BB cream to SK-II
Filter / camera effects mobile apps – you can see their influence looking at how Cardi B does her make-up
Soft power assets: Hallyu and anime popularity – it affects the aesthetics of this content
China
Huawei building automotive ecosystem without making its own cars – Huawei will not build cars on its own, but will continue to strengthen its automotive ecosystem alliance and platform, integrating R&D efforts of related carmakers to provide diverse resources of smart systems, software, chips and other aspects – interesting profile by Taiwanese technology news outlet DigiTimes
Interesting that proposes that cyberpunk owes as much to Japanese psyche during late bubble Japanese miracle culture as opposed to the writings of American authors Bruce Sterling and William Gibson. It reflects angst, consumerism and accelerated technology.
Cybersecurity Label for U.S. Coming as Early as April – EE Times – 600-plus companies that have joined the ioXt Alliance to help it build confidence in Internet of Things products will be among the first to experience the national cybersecurity label NIST is developing for consumer Internet of Things (IoT) products and consumer software products—as soon as April
Why The Chinese Balloon Was a Necessary Wake-Up Call – Recent events have shown that terrorism is not the only threat to the U.S. homeland. Moscow’s invasion of Ukraine shattered not only the 75-year peace in Europe but also Americans’ sense of security, particularly when the Kremlin has threatened nuclear escalation. Relations with Beijing have also deteriorated to a 40-year low, punctuated by the threat of Chinese aggression against Taiwan and other regional allies and covert activities within the United States
Hong Kong Stock Market filing – the Company (China Renaissance Holdings – *added this for clarity) has been unable to contact Mr. Bao Fan (“Mr. Bao”), Chairman of the Board, Executive Director, Chief Executive Officer and the controlling shareholder of the Company. The Board is not aware of any information that indicates that Mr. Bao’s unavailability is or might be related to the business and/or operations of the Group which is continuing normally (PDF) – Bao Fan has been incommunicado for a number of days. He is not responding to messages. While its unusual and considered bad practice having the same person as chairman and CEO, in China its more common. So Bao’s dual role at China Renaissance Holdings isn’t unusual. But that is the least of the worries that western investors will have about China Renaissance Holdings at the moment.
Meituan delivery workers waiting for the food to be prepared
Some thoughts:
China Renaissance Holdings has been involved in funding some of China’s biggest technology companies including Didi (think of Lyft or Uber as a western analogue) and Meituan (Deliveroo, Doordash or Just Eat equivalent.
Didi in particular seems to have gained the wraith of the Chinese government. Some of this feels to be down to sexism due to the company having a connected female president Jean Liu. The party leans more toward the Andrew Tait school of feminism
Mr Bao Fan’s disappearance evoked memories of Jianhua Xiao and his company Tomorrow Holdings. Xiao was snatched and smuggled out of his apartment in the Four Seasons in Hong Kong back in 2017. Xiao for a few years all that people knew was that he was wheeled out of the hotel asleep in a wheelchair despite having a security team. He then spent a few years ‘helping‘ authorities unwind his business Tomorrow Holdings. Finally, he got sent to prison for 13 years with charges including embezzlement and fraud. If this happens with China Renaissance Holdings, or any of the prominent companies that it has as clients like Meituan there would be a shockwave, even through the most pro-China of foreign investors like Bridgewater Capital or Goldman Sachs
Bao Fan is one of several executives who were disappeared for a while. The most prominent executive who disappeared from the public eye was Jack Ma. Ma then stepped back from his businesses. If Bao steps back from China Renaissance Holdings, the Chinese tech sector will lose an investment rainmaker. China Renaissance Holdings maybe unwound or its assets handed over to state-owned banking institutions
What happens next will likely impact western sentiment towards Chinese investment in the short to medium turn, but financial institutions are still seduced by the ‘Chinese opportunity’. And the smart money this time might be wrong
