Who exactly is "rich?"

So, a study was released today from the U.N. and mentioned on plenty of different news sites, but the Bloomberg article brought something a little more interesting to my attention. Essentially, the study says that the richest 1% of the world’s adult population comprise 40% of all global wealth. I mean, that alone is pretty nuts, but further on in the article, they get a bit more specific…

Apparently, if you have $61,000 in assets, you’re in the top 10%. That’s not $61,000/yr…that’s assets…so if you own a house, chances are that you’re in the top 10% of all global wealth. These figures come from the fact that the average adult wealth in the U.S. is $144,000, while in places like India, it’s $1000.

Now, my man, Ben, made a similar point on his blog a few days ago, and I’ll reiterate: what exactly does this mean? I mean, isn’t it rather depressing that owning a house means you’re richer than 90% of the world’s population? Billions of people? Can anything be done, or will the rich keep getting richer and the poor continue to get poorer?

I guess we should all just keep stuff like this in mind as we head through the Christmas season… As you think about financial gifts you give to the needy, realize just how good you have it compared with 5.4 billion other people…

Who exactly is “rich?”

So, a study was released today from the U.N. and mentioned on plenty of different news sites, but the Bloomberg article brought something a little more interesting to my attention. Essentially, the study says that the richest 1% of the world’s adult population comprise 40% of all global wealth. I mean, that alone is pretty nuts, but further on in the article, they get a bit more specific…

Apparently, if you have $61,000 in assets, you’re in the top 10%. That’s not $61,000/yr…that’s assets…so if you own a house, chances are that you’re in the top 10% of all global wealth. These figures come from the fact that the average adult wealth in the U.S. is $144,000, while in places like India, it’s $1000.

Now, my man, Ben, made a similar point on his blog a few days ago, and I’ll reiterate: what exactly does this mean? I mean, isn’t it rather depressing that owning a house means you’re richer than 90% of the world’s population? Billions of people? Can anything be done, or will the rich keep getting richer and the poor continue to get poorer?

I guess we should all just keep stuff like this in mind as we head through the Christmas season… As you think about financial gifts you give to the needy, realize just how good you have it compared with 5.4 billion other people…

Net Neutrality

So, I was flipping through ArsTechnica yesterday and saw their article about a survey being run around the Senate Commerce Committee regarding Net Neutrality. From the article:

The poll also found that many Americans have no idea what net neutrality is, or why they should care; only 7 percent said that they had even heard or seen anything about net neutrality. When pollsters introduced the concept to poll takers, they described it solely as “enhancing Internet neutrality by barring high speed internet providers from offering specialized services like faster speed and increased security for a fee.” When presented this way, 19 percent of respondents said that net neutrality was more important to them than “delivering the benefits of new TV and video choice,” which received a 66 percent backing.

Now, since I know the majority of you don’t know what Net Neutrality is, let me give you the Wikipedia definition:

The phrase Network Neutrality was coined by Columbia University law professor Tim Wu to describe networks that don’t favor some classes of application (for example the World Wide Web) over others (such as online gaming or Voice over IP).

You can read the full article for further information, and there are plenty of news articles around, but here’s the key: Net Neutrality is essential for keeping the internet as it stands today. The legislation is built to allow internet providers to allot certain speeds to certain services.

Let me explain this as simply as I can. The internet is finite: there’s only so much of it. Right now, if I want, I’ve got access to 100% of the internet. If the internet was not “neutral,” as it is now, then companies like AT&T and Verizon could say: “hmmmm…let’s just allow Andy to use 20% of the internet and use the other 80% for whatever we want, like telephone and television services.” Or even better, “hey, why don’t we have Amazon and eBay pay extra so they can each have 10% of the internet, while forcing everyone else to use and share 20% between themselves.” Why is this bad? Well, because my internet will be slower, and any new companies would be forced to use that limited amount of it until they could afford the premium to venture into the rest of the ‘Net.

Essentially, using the “Information Superhighway” metaphor, it’s like letting big companies with their semis full of products drive across the country on I-70 with no speed limit, but forcing the entire US population to drive along Route 66 (including all the stoplights).

Net neutrality is an important issue. Perhaps not as important as gay rights and an illegitimate war, but important just the same. You need to vote in November so that the internet stays the way it is, rather than favoring the large corporations, thus stifling any and all creativity and competition.

I leave you with a quote from the guy running the Senate Commerce Committee, Ted Stevens:

“They want to deliver vast amounts of information over the internet. And again, the internet is not something you just dump something on. It’s not a truck. It’s a series of tubes.”

Seriously…this is they guy “leading the charge,” so to speak.

Need A Time-Waster?

Then look no further! Joe, Luke and I make use of this page frequently when we were managers at ITS a few summers ago…? The page is known as FilmWise Invisibles. The basic idea is that you are given a picture and you have to identify the movie. The problem is: they’ve erased the people within the picture, so you have to guess what movie it is based on the scene and clothes the actors are wearing. Some are really obvious, and others are really obscure… Anyway, they have a new one posted every week…and they’ve been doing it for 301 weeks now…

So yeah, if you like movies and wanna kill some time, give these a try… They’re surprisingly addictive… 😉

Facebook Update

Apparently, Facebook is listening to the complaints:

“They’ve shared all right. And Facebook is listening. On Sept. 7, the site is ratcheting up privacy protections, the result of around-the-clock coding. On their privacy settings page, people will be given greater control over what items will or won’t be included in news feeds. ‘We are giving people the control they’ve been asking for,’ says Facebook spokeswoman Melanie Deitch.”

30-sec skip

So, I was reading on ArsTechnica that TV ads are losing their relevance. More specifically:

“McKinsey makes a number of assumptions about consumer behavior such as projecting ‘a 15 percent decrease in buying power driving by cost-per-thousand rate increases, a 23 percent decline in ads viewed due to switching off, a 9 percent loss of attention to ads due to increased multitasking and a 37 percent decrease in message impact due to saturation,’ all by the year 2010 and in comparison to the year 1990. Those numbers are then synthesized into TV-based marketing becoming one-third as effective in 2010 as it was in 1990.”

Now, I can’t say that I find this to be terribly surprising… As the article points out, more people are using DVR/TiVO services, as well as on-demand services, than there were in 1990 (oh yeah…that stuff didn’t exist back then…), but at the same time, realize that these percentages are calculated from data spanning nearly 20 years. Wouldn’t you think that people’s tastes in television and advertising would change anyway, without any help from DVR or TiVO? Personally, I tend to watch shows when they’re premiering, so I can’t skip forward. On the other hand, Brooke’s sister (Rachel) will wait ’til her show starts, pause it, and then go take care of the dog just so she can come back a little later and skip the commercials.

On another note, last month, execs from the ABC network decided to start investigating ways to prevent DVR owners from skipping commercials (apparently thinking we wouldn’t mind). Obviously, the networks are starting to “get wise” to the situation and make adjustments as soon as they can, ’cause as the article points out, “TV advertisers today are paying more for access to a smaller audience, which makes that medium an expensive way to attract new customers.”
Regardless, the model’s going to have to change and we aren’t going to have commercials as we know them for much longer…

…except during the Super Bowl, of course…

3.30.07

Big posting day already on the blog, but when I found this, it simply couldn’t wait….

On March 30th, 2007…a newTeenage Mutant Ninja Turtle” movie is being released…computer animation…

w00t!!!

Carlin

A little wisdom from my man, George Carlin:

“So I worship the sun. But I don’t pray to the sun. You know why? Because I wouldn’t presume on our friendship. It’s not polite. I’ve often thought people treat God rather rudely. Trillions and trillions of prayers every day, asking and pleading and begging for favors. ‘Do this; give me that; I need this; I want that.’ And most of this praying takes place on Sunday, his day off! It’s not nice, and it’s no way to treat a friend.”

“I wanted to be a Boy Scout, but I had all the wrong traits. Apparently, they were looking for kids who were trustworthy, loyal, helpful, friendly, courteous, kind, obedient, cheerful, thrifty, brave, clean and reverent. Unfortunately, at that time, I was devious, fickle, obstructive, hostile, rude, mean, defiant, glum, extravagant, cowardly, dirty, and sacrilegious. So I waited a few years and joined the army.”