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.
Horns that seemed to portent the apocalypse and stuttering dialogue: ‘none of them received a heroes welcome, none of them, none of them. None of them received a heroes welcome’. This was the soundtrack of 1985 as part of Vietnam Requiem sampling 19 by Paul Hardcastle. At the time the sampling got me interested in music, production, technology and DJ’ing – which pretty much set the path for the various stages of my career to date.
The best part of four decades later and I finally got the see documentary that was responsible for much of the samples in 19. I can understand how Vietnam Requiem might have profoundly affected Paul Hardcastle at the time.
Scott Galloway on Silicon Valley Bank’s collapse and the rise of Saudi Arabia. More on SVB here.
BMW M1
I am a huge fan of the BMW M1 and have written about it before. So I wanted to share this documentary by Jason Cammisa on the car. The putdown of modern BMW’s current 2-series range as ‘Grand Corollas’ is actually an insult to Toyota.
Driving Japan
Before I moved to London, I had a car and drove everywhere. I even drove for leisure. One of my favourite drives was going past the local oil refinery and associated chemical works late at night for the dystopian cyberpunk vibes of mercury vapour lamps reflected from matt zinc coated lagging.
These videos of driving in Japan gave me a similar sense of enjoyment.
Au campaign
KDDI cellphone service brand Au are looking at metaverse and Web 3.0 value added services, which partly explains this new campaign. I think that it is interesting as it reminded me of CD-ROM era motion comic and how Midjourney and Stable Diffusion can be used to reduce production costs on a campaign.
If this all feels a bit 2021, its because large corporate take time to catch up with where things are. I can also understand the attractiveness of the metaverse and digital assets as a concept in modern Japanese culture. Even if it is out far, far ahead of where technology is actually going.
Silicon Valley Bank funded this documentary about their history from their founding in 1983 to 2003. It’s now preserved by the Computer History Museum in Mountain View – one of the towns that make up Silicon Valley.
Bloomberg have done a programme explaining about what happened with Silicon Valley Bank and how it went under so quickly. Silicon Valley Bank had problems due to raising interest rates, issues with their risk management and an abnormally high amount of customers withdrawing funds. However there was also an issue about the way Silicon Valley Bank communicated with the market, which in turn created a crisis in depositor confidence.
Health
Alphabet’s keynote and plans for the health industries. Usual nod to privacy (hahahaha), cloud computing, consumer devices and AI.
Chinese tourists unwilling to pay extra for sustainable travel options even as concern about climate change on the rise, McKinsey and Trip.com report says | South China Morning Post – Chinese travellers are increasingly concerned about climate change and are aware of their environmental footprint, but are still not ready to pay extra for sustainable travel, according to a recent report by consulting firm McKinsey & Company and Chinese travel services provider Trip.com Group. Data from McKinsey, which surveyed a total of 5,457 respondents from 13 countries including China, the United States, India and Saudi Arabia, showed that more than 60 per cent of Chinese travellers were worried about climate change and believed that commercial aviation should become carbon neutral in the future, putting China near the top among the countries surveyed. A separate survey conducted by Trip.com last year showed that almost 85 per cent of Chinese travellers rated sustainable travel as important or very important. However, compared to travellers from other countries, Chinese tourists are reluctant to pay a premium for sustainable travel. Only 20 per cent of surveyed Chinese tourists said they would pay 2 per cent extra for carbon-neutral airline tickets, ranking near the bottom among the countries surveyed – well what would you expect when you have been repeatedly told by your government and media that the west and the United States is to blame for it all anyway? Secondly, civil society like Greenpeace or the Sierra Club can’t operate in China which will also affect awareness
More on the serious issue of violent crime for luxury watches in London. I wrote recently about the ‘London Watch‘ where watch wearers have an empty wrist when going around central London. This is going to negatively impact everything from luxury sales to hospitality and tourism in the UK at a time when the economy can ill-afford to turn down business.
Huamei Qiu is now an intellectual property lawyer based in Germany. Three years ago she featured in a New York Times documentary about the pressures on Chinese women to marry. She comes across in the film as bright, smart and engaging. She’s pretty in a girl-next-door kind of way with a flattering pixie haircut and definitely someone’s potential partner in a marriage rather than merely a trophy wife.
She has followed the party’s advice to build a good future for herself. As woman in China, she should be a hot commodity relatively speaking in the dating pool. As we see Huamei Qiu face a match maker; you realise that something is very rotten in the Chinese dating market. What Ms Qiu is looking for isn’t that much. Someone who is respectful, educated and ambitious. What I thought would have been hygiene factors? Instead, Huamei Qiu is told, her time is running out and she needs to settle fast.
China has more men than women in the marriage market, which should mean they would have to compete harder if you think about it as an economic model. Instead Huamei Qiu existed in a Kaftaesque world. I know about the government policy about leftover women, but this just left me feeling angry and frustrated on her behalf.
Beauty
The Class Politics of Instagram Face – Tablet Magazine – by approaching universality, Instagram Face actually secured its role as an instrument of class distinction—a mark of a certain kind of woman. The women who don’t mind looking like others, or the conspicuousness of the work they’ve had done. Those who think otherwise just haven’t spent enough time with them in real life. Instagram Face goes with implants, middle-aged dates and nails too long to pick up the check. Batting false eyelashes, there in the restaurant it orders for dinner all the food groups of nouveau riche Dubai: caviar, truffle, fillers, foie gras, Botox, bottle service, bodycon silhouettes. The look, in that restaurant and everywhere, has reached a definite status. It’s the girlfriend, not the wife
What party control means in China | The Economist – The workings of Chinese power are not easy for outsiders to follow. Visitors to some official buildings, for example, are greeted by two vertical signboards, one bearing black characters, the other red. The black-lettered sign denotes a government department. Red characters signal an organ of the Communist Party. In bureaucratic slang this is known as “party and government on one shoulder-pole”. Sometimes the two offices oversee the same policy area, and employ some of the same officials. They are not equally transparent. Especially when meeting foreigners, officials may present name cards bearing government titles but stay quiet about party positions which may or may not outrank their state jobs. Many party branches are not publicly marked at all. It is a good moment to remember this quirk of Chinese governance. The annual session of the National People’s Congress (npc), the country’s largely ceremonial legislature, is under way from March 5th to 13th. This year’s npc meeting comes after a big party congress last October. At that gathering China’s supreme leader, President Xi Jinping, secured a norm-trampling third term
Google – Headless chicken pt. II – Radio Free Mobile – this reminds me of Yahoo! in the mid-2000s, when I worked there. Its size and prior success ensnares it. Projects are likely being started and closed rapidly. It is struggling to meaningfully redefine itself and regain its agility
Studying Ukraine war, China’s military minds fret over US missiles, Starlink | Reuters – the Ukrainian conflict had provided impetus to long-standing efforts by China’s military scientists to develop cyber-warfare models and find ways of better protecting armour from modern Western weapons. “Starlink is really something new for them to worry about; the military application of advanced civilian technology that they can’t easily replicate,” Koh said. Beyond technology, Koh said he was not surprised that Ukrainian special forces operations inside Russia were being studied by China, which, like Russia, moves troops and weapons by rail, making them vulnerable to sabotage.
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.
