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  1. kalenjin shared this story from Bitcoin Magazine.

    <img alt="Spotify acquires blockchain-based startup" height="444" src="https://fs.bitcoinmagazine.com/img/images/spotify_mc.width-800.jpg" width="800"><p>Spotify, the <a href="https://www.bloomberg.com/news/articles/2016-07-20/will-a-spotify-ipo-live-up-to-its-8-billion-valuation">$8 billion</a> music streaming service provider, which is <a href="http://www.businessinsider.com/spotify-could-reach-100-million-users-and-a-53-billion-valuation-by-2020-2016-9">projected</a> to reach 100 million users and a $53 billion valuation by 2020, acquired Mediachain, a startup backed by leading venture capital firm Andreessen Horowitz, to simplify royalties utilizing bitcoin’s underpinning technology.<br/></p><p>In March, Spotify found itself amidst legal troubles with its partnered musicians, record labels and producers over unpaid royalties. According to the announcement of the National Music Publishers’ Association (NMPA), Spotify settled a $25 million deal and a $5 million penalty over unpaid and unmatched songs.</p><p>Upon the settlement of the $30 million deal, Spotify’s Global Head of Communications and Public Policy Jonathan Prince admitted that while the company has been committed in compensating its musicians and publishers since its launch in October of 2008, tracking all of its registered songs streamed by tens of millions of users and distributing royalties accurately and...
  2. kalenjin shared this story from FlowingData.

    Here’s a fun what-if simulation that imagines a world where all natural causes of death were gone. People only die of things like car crashes and homicide. The result: people who live to thousands of years old.

    Of course, this assumes that the likelihood of dying from external causes stays the same. With such a long life expectancy, do people start to take more risks? Or do we become more sloth-like because we have all the time in the world? Ah, that’s a thinker.

    Want a simulation closer to reality? Here you go.

    Tags: ,

  3. kalenjin shared this story from Calculated Risk.

    A few excerpts from a note by Goldman Sachs economists Jan Hatzius and Daan Struyven:
    On a broad range of measures, the US economy is now at full employment. Headline unemployment has fallen below most estimates of the structural rate, the discouraged worker share is back to pre-recession lows, and the still somewhat elevated share of involuntary part-timers is arguably structural.

    And while the employment/population ratio remains well below its pre-recession level, the gap is fully explained by a combination of population aging and declining participation of prime-age men. This trend among prime-age men has continued for over six decades, has not stood in the way of a strong recent wage acceleration in that demographic, and therefore looks structural.
    ...
    Job growth remains well above the pace needed to stabilize unemployment. The speed of the likely overshoot is comparable to the average postwar cycle, and we have lowered our end-2018 unemployment rate forecast to 4.1% from 4.3% prior.
    emphasis added
  4. kalenjin shared this story from Shanghaiist.

    Netizens complain about comically hard-to-reach complaint box at government office Chinese web users have joked that to make a complaint, locals either need to bring a ladder or Yao Ming. [ more › ]
  5. kalenjin shared this story from Quartz.

    In 1976, a professor of economic history at the University of California, Berkeley published an essay outlining the fundamental laws of a force he perceived as humanity’s greatest existential threat: Stupidity.

    Stupid people, Carlo M. Cipolla explained, share several identifying traits: they are abundant, they are irrational, and they cause problems for others without apparent benefit to themselves, thereby lowering society’s total well-being. There are no defenses against stupidity, argued the Italian-born professor, who died in 2000. The only way a society can avoid being crushed by the burden of its idiots is if the non-stupid work even harder to offset the losses of their stupid brethren.

    Let’s take a look at Cipolla’s five basic laws of human stupidity:

    Law 1: Always and inevitably everyone underestimates the number of stupid individuals in circulation.

    No matter how many idiots you suspect yourself surrounded by, Cipolla wrote, you are invariably lowballing the total. This problem is compounded by biased assumptions that certain people are intelligent based on superficial factors like their job, education level, or other traits we believe to be exclusive of

    ...
  6. kalenjin shared this story from Alpha Architect.

    Our firm Allocate Smartly provides independent analysis of Tactical Asset Allocation (TAA) strategies. TAA strategies dynamically allocate to broad asset classes like stock […]

    The post Tactical Asset Allocation and the US 60/40 Benchmark appeared first on Alpha Architect.

  7. kalenjin shared this story from Balding's World.

    What are internal controls? I had a loyal Twitter follower ask if internal control was code for corruption in light of the Mingsheng Bank wealth management product loss. This is an entirely understandable question but not accurate.  This led to a … Continue reading
  8. kalenjin shared this story from Macro Man.

    "You better move! You better dance!" - Ke$ha

    Oh boy.

    And here I thought the Donald was going to take down Mexico.




    Trump goes after Canada on the lumber trade. CAD moved on the news. Fast forward a couple of days, Trump comes out Wednesday night and says we are staying in NAFTA, CAD moves back on the news.

    In the midst of these flashy headlines, I wanted to take this opportunity and actually dissect the noise and actually pinpoint what I think is truly important for USDCAD.




    Let's start with the noise.

    These were the main Canadian exports in 2014 - (sorry for the lagged data) Assume they haven't changed much.

    ...
  9. kalenjin shared this story from NYT > The Upshot.

    There are three rules that states could apply to waive in the newest proposed revision to the Republicans’ health care plan.
  10. kalenjin shared this story from TaxVox.

    As usual, President Trump did a masterful job creating sense of drama in the buildup to his announcement today of his current tax agenda. But...