BUSINESS & ECONOMICS EDITOR'S PICK PSYCHOLOGY Understanding The Sunk Cost Fallacy Key Takeaway: The sunk cost fallacy is a common tendency where people make decisions based on past costs rather than current events or future events. This can lead to high-stakes decisions and can affect choices that have bigger consequences for our lives. For example, Bob might base his decision on the original price of a […] Saving Bookmark this article Bookmarked
BUSINESS & ECONOMICS EDITOR'S PICK SCIENCE The Most Expensive Material Used In Science Key Takeaway: NASA is set to return samples from the asteroid Bennu in the early 2030s to determine if any contain traces of ancient life. The cost of sample return is $132 million per ounce, or $4.7 million per gram, which is about 70,000 times the price of gold. The first extraterrestrial material returned to […] Saving Bookmark this article Bookmarked
EDITOR'S PICK PSYCHOLOGY The Psychology Of Fyre Festival II Key Takeaway: The founder of the 2017 Fyre Festival, William “Billy” McFarland, has announced plans for a second attempt at the festival, with a target date of the end of 2024. McFarland, who was charged with several fraud offences and sentenced to six years in prison, has been promoting the event on Instagram. The promotion […] Saving Bookmark this article Bookmarked
BUSINESS & ECONOMICS EDITOR'S PICK SCIENCE TECHNOLOGY Uranium And The Future Of The Nuclear Industry Key Takeaway: The uranium market has seen a surge in prices since mid-August, with prices around US$48 per pound (453g). This is due to investors and speculators scrambling to buy the commodity, which is limited to nuclear power production and medical equipment. The demand for uranium is distributed across 445 nuclear power plants operating in […] Saving Bookmark this article Bookmarked
ART & DESIGN EDITOR'S PICK The Economics Of Art Museums Key Takeaway: Art museums, such as New York’s Metropolitan Museum of Art, have a large number of visitors but struggle to generate revenue. The Met, the world’s third most popular museum, has a budget deficit of $10 million and is laying off over 100 employees. Meanwhile, the Museum of Modern Art (MoMA) is expanding and […] Saving Bookmark this article Bookmarked
EDITOR'S PICK STRATEGY How To Future Proof Your Job In The Age Of A.I. Key Takeaways: The rise of AI and chatbots has raised concerns about the future of work and the safety of middle-class jobs. A recent poll found that over half of people aged 18-24 are worried about AI and their careers. Research suggests that a quarter of tasks currently performed by humans in the US and […] Saving Bookmark this article Bookmarked
EDITOR'S PICK POLITICS The Geopolitical Future Of Microchips A conflict between the US and China over computer chips โ or semiconductors โ has been escalating in recent months. In particular, the US has taken steps to limit Chinaโs access to advanced chip technology amid heightened international competition in the area. The US recently tightened export controls to undercut Chinaโs access to high-end chip manufacturing equipment and […] Saving Bookmark this article Bookmarked
BUSINESS & ECONOMICS EDITOR'S PICK The Dark Side Of Amazon Returns Key Takeaway E-commerce offers convenience but also has a dark side: returns can be costly for retailers, costing them around $816 billion in lost sales in 2022. The return process, including transportation and packaging, generates about 24 million metric tons of carbon dioxide emissions. Returns can travel hundreds of miles, requiring manual unpacking, inspection, and […] Saving Bookmark this article Bookmarked
BUSINESS & ECONOMICS EDITOR'S PICK TECHNOLOGY Amazon And Quantum Computing One of the most commonly used examples used in schools and colleges to explain the need for quantum computing is the so-called traveling salesman problem, which requires complex combinatorial optimization skills to solve the following question: โGiven a list of cities and the distances between each pair of cities, what is the shortest possible route that […] Saving Bookmark this article Bookmarked
EDITOR'S PICK ENTREPRENEURSHIP STRATEGY How To Accelerate Digital Transformation Digital Transformation is about creating new opportunities for your business to drive innovation and efficiency, to improve how your teams work, and to leapfrog ahead of competitors, all with the goal of delivering new and improved customer experiences. Every industry is undergoing a transformation. Customers are expecting more and retaining them is increasingly difficult as […] Saving Bookmark this article Bookmarked
The Building Blocks Of The Universe Key Takeaway: Peter Higgs, the creator of the Higgs boson, has died at the age of 94. Higgs, a great scientist in particle physics, discovered the Higgs boson in 1964 after reading a paper by American theoretical physicist Philip Anderson. This led to the development of the Standard Model, which explained how fundamental particles and […] Written by Harald Fox April 16, 2024April 16, 2024 Saving Bookmark this article Bookmarked
The Inherent Risks Of A.I. Key Takeaway: Leading scientists and technologists often make terrible predictions about the direction of innovation, leading to misalignments between a company’s economic incentives to profit from its proprietary AI model and society’s interests in how the AI model should be monetised and deployed. Focusing on the economic risks from AI is not just about preventing […] Written by Mariana Mazzucato April 15, 2024April 15, 2024 Saving Bookmark this article Bookmarked
When Will Quantum Computers Actually Become Practical? Key Takeaway: Quantum computing, which uses entanglement to represent information, has the potential to revolutionize everyday life. However, the development of quantum computers has been slow due to the need to demonstrate an advantage over classical computers. Only a few notable quantum algorithms have been developed, such as the BB84 protocol and Shor’s algorithm, which […] Written by Adam Lowe April 4, 2024April 4, 2024 Saving Bookmark this article Bookmarked
Predicting China’s Economy In 2024 Key Takeaway: China’s leaders have declared a GDP growth target of 5% in 2024, despite facing economic problems and a property crisis. The country’s rapid economic growth has been attributed to market incentives, cheap labor, infrastructure investment, exports, and foreign direct investment. However, none of these drivers are working effectively. The government’s determination to deflate […] Written by Hong Bo April 3, 2024April 3, 2024 Saving Bookmark this article Bookmarked
The Future Of Human Computing Key Takeaway: Neuralink, founded by Elon Musk, aims to implant a brain-computer interface (BCI) in people’s brains, allowing them to control computers or phones by thought alone. This technology holds the promise of alleviating human suffering and allowing people with disabilities to regain lost capacities. However, the long-term aspirations of Neuralink include the ability to […] Written by Allan McCay April 2, 2024April 2, 2024 Saving Bookmark this article Bookmarked
The Real Mystery Of Sand Dunes Key Takeaway: Sand dunes, primarily formed of quartz and feldspar grains, can also be formed from ash, snow, and gypsum. They can record a history of climate changes and can be enormous, with the largest being as tall as skyscrapers. Only a fifth of deserts are covered by sand dunes, and only about a fifth […] Written by David Thomas April 1, 2024April 1, 2024 Saving Bookmark this article Bookmarked
The Economics Of Betrayal Key Takeaway: Judas Iscariot, a disciple of Jesus, is often associated with treachery and betrayal due to his loyalty. However, research suggests that acts of betrayal are rare, as most humans can be trusted due to their interests. In a trust game, the sender can keep the money or send it to the receiver, who […] Written by Renaud Foucart March 29, 2024March 29, 2024 Saving Bookmark this article Bookmarked
Rethinking Education Key Takeaways: The Industrial model of education that fueled the modern era and its dizzying reach did its job incredibly well. In his writing, Flynn illustrates study after study, spanning nations and decades, in which modern educational gift of abstraction โ a transcendent sign of intelligence, as we saw in Ravenโs Matrices โ has been […] Written by Anthony Fieldman March 2, 2022October 19, 2022 Saving Bookmark this article Bookmarked
How China Is Transforming Its Economy Through Learning I highly recommend reading the McKinsey Global Instituteโs new report, โReskilling China: Transforming The Worldโs Largest Workforce Into Lifelong Learnersโ, which focuses on the countryโs biggest employment challenge, re-training its workforce and the adoption of practices such as lifelong learning to address the growing digital transformation of its productive fabric. How to transform the country […] Written by Enrique Dans February 1, 2021February 1, 2021 Saving Bookmark this article Bookmarked
Why Youโre Not Seeing Success With Influencer Marketing With the new year around the corner, now is a good time to re-evaluate your past marketing strategies and gear up for the year ahead. For some businesses, influencer marketing has simply not seemed to live up to its lofty promises of genuine engagement, credibility, and transparency. Some have claimed that it has been failing […] Written by Michael Tan January 14, 2021January 15, 2021 Saving Bookmark this article Bookmarked
A New Philosophy of Business Iโm about to ask you to take a mental leap. For the next 8 minutes, suspend your notions of what a business is, and Iโll propose a new lens for you to look through. There are a lot of questions asked around what โcommunityโ means for business. โWhere should community fit in my organization?โ and […] Written by Empirics Asia September 5, 2018September 5, 2018 Saving Bookmark this article Bookmarked