Steve Javiel, Inspiration
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[ed. Excerpted from a recent post on The Big Picture (one of the best financial blogs on the internet) titled "Why I Am Considering Getting Rid of Comments". Duck Soup gets hardly a fraction of the traffic TBP does, but Mr Ritholtz' post goes a long way in explaining why I've been reluctant to implement a comments section here. If you're interested in this type of issue he provides a couple of links that are well worth reading, including: How to Spot - and Defeat - Disruption on the Internet and COINTELPRO Techniques for Dilution, Misdirection and Control of an Internet Forum.]

Since I began this humble blog almost 11 years, 25,000 posts and 110 million page views ago, it has managed (despite my best efforts) to accumulate half a million comments.

This was never my intention.

I created this blog, in the words of Daniel Boorstin, to figure out what I think. It is where I gather my favorite charts, quotes, links and assorted ideas. The blog is simply a diary of random thoughts of a person working in finance. Think of it as the musings of an intelligent investor who, despite studying his subject for decades, still puzzles over many aspects of it.

Overall, the goal with this blog has been an attempt to discern the objective “Truth” (whatever that means) in an industry that does its best to hide that truth from public view. When I do uncover a small measure of truth, I enjoy sharing the discovery here. (...)

Managing blog comments has become an increasingly time consuming job. Policing the spammers, trolls, haters, and other purveyors of falsehoods has become a larger time suck than I am willing to accept. Dealing with such cretins hardens your outlook and shortens your temper more than I care for. Perhaps this is the reason so many high profile blogs have closed down their comments altogether.

Were I to shut down my comments, it would be for a reason I have not seen enumerated elsewhere: The intellectually disingenuous rhetorical sleight of hand that has become a substitute for legitimate debate. (See this and this). I simply do not have the time nor the interest in correcting every half-truth and lie. But I have even less interest in polluting the blog with this sort of nonsense.

Therein lay my quandry. A harsh solution beckons.

by Barry Ritholtz, The Big Picture |  Read more:

Karen Tusinski
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Michelle Blade, Day 359. 366 Days of the Apocalypse. 2012.
Acrylic ink on paper, 8 x 10”
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The Drones Come Home

A dozen years ago only two communities cared much about drones. One was hobbyists who flew radio-controlled planes and choppers for fun. The other was the military, which carried out surveillance missions with unmanned aircraft like the General Atomics Predator.

Then came 9/11, followed by the U.S. invasions of Afghanistan and Iraq, and drones rapidly became an essential tool of the U.S. armed forces. The Pentagon armed the Predator and a larger unmanned surveillance plane, the Reaper, with missiles, so that their operators—sitting in offices in places like Nevada or New York—could destroy as well as spy on targets thousands of miles away. Aerospace firms churned out a host of smaller drones with increasingly clever computer chips and keen sensors—cameras but also instruments that measure airborne chemicals, pathogens, radioactive materials.

The U.S. has deployed more than 11,000 military drones, up from fewer than 200 in 2002. They carry out a wide variety of missions while saving money and American lives. Within a generation they could replace most manned military aircraft, says John Pike, a defense expert at the think tank GlobalSecurity.org. Pike suspects that the F-35 Lightning II, now under development by Lockheed Martin, might be “the last fighter with an ejector seat, and might get converted into a drone itself.”

At least 50 other countries have drones, and some, notably China, Israel, and Iran, have their own manufacturers. Aviation firms—as well as university and government researchers—are designing a flock of next-generation aircraft, ranging in size from robotic moths and hummingbirds to Boeing’s Phantom Eye, a hydrogen-fueled behemoth with a 150-foot wingspan that can cruise at 65,000 feet for up to four days.

More than a thousand companies, from tiny start-ups like Miser’s to major defense contractors, are now in the drone business—and some are trying to steer drones into the civilian world. Predators already help Customs and Border Protection agents spot smugglers and illegal immigrants sneaking into the U.S. NASA-operated Global Hawks record atmospheric data and peer into hurricanes. Drones have helped scientists gather data on volcanoes in Costa Rica, archaeological sites in Russia and Peru, and flooding in North Dakota.

So far only a dozen police departments, including ones in Miami and Seattle, have applied to the FAA for permits to fly drones. But drone advocates—who generally prefer the term UAV, for unmanned aerial vehicle—say all 18,000 law enforcement agencies in the U.S. are potential customers. They hope UAVs will soon become essential too for agriculture (checking and spraying crops, finding lost cattle), journalism (scoping out public events or celebrity backyards), weather forecasting, traffic control. “The sky’s the limit, pun intended,” says Bill Borgia, an engineer at Lockheed Martin. “Once we get UAVs in the hands of potential users, they’ll think of lots of cool applications.”

The biggest obstacle, advocates say, is current FAA rules, which tightly restrict drone flights by private companies and government agencies (though not by individual hobbyists). Even with an FAA permit, operators can’t fly UAVs above 400 feet or near airports or other zones with heavy air traffic, and they must maintain visual contact with the drones. All that may change, though, under the new law, which requires the FAA to allow the “safe integration” of UAVs into U.S. airspace.

If the FAA relaxes its rules, says Mark Brown, the civilian market for drones—and especially small, low-cost, tactical drones—could soon dwarf military sales, which in 2011 totaled more than three billion dollars. Brown, a former astronaut who is now an aerospace consultant in Dayton, Ohio, helps bring drone manufacturers and potential customers together. The success of military UAVs, he contends, has created “an appetite for more, more, more!” Brown’s PowerPoint presentation is called “On the Threshold of a Dream.”

by John Horgan, National Geographic |  Read more:

Photo: Joe McNally

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On Being Private in Public

We all know that we are under CCTV surveillance on many occasions each day, particularly when we are in public places. For the most part we accept that being – or potentially being – watched in public places is a reasonable price to pay for the security that 24-hour surveillance offers. However, we also have expectations about what is done with CCTV footage, when, and by whom. A recent discussion with a friend threw up some interesting questions about the nature of these expectations and their reasonableness.

My friend works in a bar where, unsurprisingly, there are several CCTV cameras. Everyone knows where these cameras are and that they are permanently in operation – there is not supposed to be any secrecy. Whilst the primary purpose of the cameras is to promote security, a member of the management team has begun to use them in a way that could be seen as ethically problematic: she logs on to view the footage in real-time, remotely, at her home. In addition to watching the footage, the manager has also addressed points of staff discipline based on what she sees. Perhaps particularly troubling is that she has commented on the way a member of staff behaved when no one was around – when the member of staff thought that she was ‘alone’.

To me there seems to be something wrong about this, but it is hard to pinpoint exactly what: the members of staff know that the cameras are there and they know that the real-time camera footage can be viewed from the office in the bar. Perhaps the first issue involves expectations about the likelihood and purpose of being watched. Given that the primary purpose of the cameras is to promote security, the staff might reasonably expect that no close attention will be paid to the footage unless there is a serious incident. Under such circumstances, the movements of the staff members will only be closely observed insomuch as they are part of, or relevant to, the incident in question. In addition, any incidental embarrassing or indiscreet behaviour that a member of staff might engage in whilst apparently ‘alone’ would pale in significance in light of the details of the serious incident. In contrast, when the manager watches from home she is interested in particular in the behavior of the members of staff – she pays close attention to them. Relatedly, when used for security purposes, footage is often viewed retrospectively and non-essential parts are fast-forwarded. The manager, on the other hand, is watching closely, in real-time, with no antecedent security concerns.

The second issue is what it is appropriate for the manager to do when she is off duty. It is true that the behaviour of staff and the security of the bar do not cease to be within her professional interest in general when she leaves to go home. If she were to hear that a member of staff conducted himself inappropriately whilst she was not there, the fact that she was not on duty at the time would not and should not prevent her from addressing it. However, there does seem to be something about her viewing live footage of the bar in her leisure time and acting on what she sees as not quite right. The intuition might be that the scope of her role – particularly her jurisdiction to discipline – does not extend to her home when off duty. However, this intuition can be challenged if we imagine that – instead of noticing something from home on the cameras – she were to ‘drop in’ on her day off and happen to view the same thing. If she were to act on what she views under these circumstances I doubt any eyebrows would be raised.

Probably, the core of the unease we might feel derives from the seeming ‘misuse’ of the CCTV: watching for whether members of staff take too long on their breaks or don’t answer the telephone as quickly as possible are not security matters. In addition, the invisibility of the watchful eye seems to make a difference: when she drops in on her day off her presence is known about. Finally, some of the unease might also relate to suspicions about the manager’s motivation for watching remotely from home: whether she acts or comments on what she sees or not, watching the movements of staff members like a fly on the wall shifts her interest from professional to personal.

But do these factors really make this practice ethically problematic? Is the off duty home-viewing really something we can object to? The cameras are there, the signs indicating their presence are clear and the bar is, after all, a public place and a place of work. But, when the customers are all gone and you’re left shutting up for the night, should you not be able to dance-as-you-mop in private?

by Hannah Maslen, Practical Ethics, University of Oxford |  Read more:

Image via: Wikipedia

I’m Waiting for my UPS Man

There are two websites where you can add a gram of heroin to your shopping cart as if you were buying asparagus on Fresh Direct. One belongs to Sigma-Aldrich, the St. Louis chemical company that synthesizes pure opioids for use in laboratory studies. For this you need to be a federally accredited laboratory. The other is Silk Road, the anonymous marketplace where drugs are priced in untraceable Bitcoin currency. For this you just need an internet connection.

Most of us do so much online shopping, and the interface has become so standardized, that the bland machinery of ecommerce is part of the texture of our waking lives: clicking “add to shopping cart” is like flicking a light switch. So although you might be perturbed if a salesperson offered you heroin from behind a department store counter, the aesthetic of the product page makes the transaction seem instantly mundane. Really, the only surprise is that Amazon hasn’t gotten into the game already. It’s strange to recall that rock music once made the act of buying drugs sound as mythically cool as the act of taking them. Today, Lou Reed would go to Silk Road instead of Lexington and 125th, and the man he’d be waiting for a week later would be totally unwitting, and from UPS.

Silk Road got a lot of publicity in 2011 for its heroin and LSD offerings; most of the websites that sell recreational drugs specialize in experimental compounds imported from China, still legal or quasi-legal because no legislative body can possibly keep up with an enterprising chemist. However, to dodge broader regulations about what you can encourage people to put in their bodies, most of these drugs are advertised under some other category: bath salts, plant food, pool cleaner. Like the ecommerce interface itself, the product pages are redolent of dull domestic life. So far, the most popular of these drugs is mephedrone (not to be confused with methadone), a substitute for MDMA that arrived in the UK in around 2009 and in the US last year. Mephedrone became famous in the British tabloids as “Meow Meow,” a “street name” that turned out to have been the invention of a lone Wikipedia user. It’s now been banned almost everywhere, after being implicated in a handful of deaths (and one notorious face-eating, which later turned out to have nothing to do with it). But dozens of its relatives still count as legal highs.

While Silk Road is like eBay, many of the websites offering “research chemicals” are more like Zappos: full-featured specialist retailers that operate openly and expect to be around for long enough that it’s worth investing in customer retention. These websites don’t just have shopping carts and checkouts: they also have user reviews, product alerts, seasonal sales and multiple worldwide delivery options. (“Really great product these pellets are. compared to the “o5” pellets, and the 6apb powder ive had from numerous sources, these absolutely blew me away. 2 pellets made for an amazing reaction, the 5apb adds SO much to the mix. Also, top notch customer support and service, as usual. Shipped same day. rc-lab is always a pleasure to do business with.”) We all know from The Wire that drug dealers have learned a lot from the marketing techniques of legitimate businesses. But the timing of their seasonal sales, for instance, doesn’t quite make sense: it’s not as if you need to clear out all your heavy winter junk to make way for the graceful new spring collections. One wonders if the retailers are so delighted with their off-the-shelf e-commerce platforms that they’ve decided to imitate more mainstream websites by any other means that occur to them.

There is, however, one area in which they really fall down, and that’s friendliness to the newbie. Methoxetamine, methiopropamine, ethylphenidate, etizolam, benzofuran, camfetamine, pentedrone—who can keep up? The merchants can give you the best customer service in the world, but the one thing they can’t do is explain the effect of these drugs and how much you might want to swallow, because, remember, they’re only selling plant food. Could it be that, just when it seemed like the internet was robbing the drug world of all its dangerous glamor, the problem’s actually just been flipped upside down? In the old days, you knew what you wanted but didn’t know where to get it. In 2013, you can get almost anything but have no idea what it is.

by Ned Beauman, N+1 |  Read more:

Image: Image copyright (c) 2010 by J. Peter Siriprakorn

What is Love?

It is a telling statistic that the ­most frequently ‘what is…?’ question typed into Google last year was: what is love? This fact probably reveals more about the society that asks an internet search engine such a thing, than any answer reveals about the nature of love. But if not Google, then where else can we look to understand love? The fantasy-making machines of Hollywood and Bollywood insist that there is only one answer worth indulging: the romantic kind. Most people, it would seem, agree, if only by default. They are dragged into seeking the person who will make them ‘whole’ via a dating website, or by a less tangible, though no less keenly felt urge cultivated by the same, dominant culture that insists we must find ‘the one’. Not that its origins are modern. Ever since the poet Sappho wrote, in the seventh century BCE, of love rippling under her skin like wind through trees, romantic love has been imagined as irresistible, a crucial experience that marks the peak of human existence.

Yet, the Google stats suggest that there is also a silent global search underway — many of us are clearly not satisfied with romance as an answer. The real problem, then, might be that contemporary culture leaves us unprepared for thinking about love in anything other than a one-dimensional mode. Just as marriage has seized the monopoly on public affirmations of love, so a notion of romance has restricted what we can imagine as a loving relationship.

The ancient Greeks, unlike us, did not have a single word for love but many. As is often noted, they had philia (friendship) and eros (desire), storge (affection) and agape (unconditional love). Perhaps that is another part of our problem. Our language invites us to think of love as a single, unified thing, when it is nothing of the sort. I suspect that words are not enough to address this modern deficiency. What we need is a new sense of the variety of love’s experiences. Fortunately there is another storehouse we can draw on from our ancient forebears: and it is not their words, but their myths that can enlighten us.

In a sense, we are lumbered with the dominance of romantic love; it can't simply be sidestepped in favour of friendship, for example. That would never work: the erotic is simply too powerful. But the ancient myths can help us realise why romance is such a successful sell, if short-lived. Perhaps the myth that best captures the allure of romance is Aristophanes’ idea about soulmates, from Plato’s Symposium The story goes that human beings originally had two heads, four arms and four legs. We were shaped like round balls and tumbled across the face of the Earth at great speed. The gods grew alarmed at this display of power. So Zeus hatched a plan. He would cut human beings in half, leaving each with just one head, two arms and two legs.

These mutilated halflings were a pathetic sight. In particular, they developed the habit of devoting considerable amounts of their now limited energy searching for their lost halves. The desire to find the missing other was irresistible. Individuals sustained the search in spite of repeated break-ups and romantic disasters in the indefatigable belief that the right person — ‘the one’ — was out there. The promise of love, they felt, was nothing less than wholeness.

The myth has had a long life, accurately describing to this day the inner experience of those who feel life is incomplete without such love. In fact, it wasn’t until the 18th century that Aristophanes’ way of thinking about love reached its logical conclusion, when Jean-Jacques Rousseau wrote of how he fell in love as a young man. Only after that experience, he mused, could he be sure that he had genuinely lived. The upshot was that romantic love had become the goal in its own right. It matters not who you fall in love with, so long as you have fallen in love. The experiential ideal usurps the complex personal reality. That is why romance has us so much in its grip and empties us out in the process. It is the same with the dogmatic pursuit of happiness.

Crucially, however, Plato’s original myth about soulmates ends not with an elusive, illusory happiness, but with a twist. And here it might have something to teach us, suggesting an escape hatch out of the romantic stronghold. Zeus takes pity on the halved humans. He moves their genitals round so that when they meet they can embrace and find a little release for their passion. Sex is a temporary taste of unity, and it helps, though only to a degree. So when Hephaestus, the god of craftsmen, passes by and promises the couples a wish, these tragic figures speak with one voice. Weld us together, they cry: melt us one into the other!

Hephaestus obliges. The two become one. And the new situation reveals another way in which love gets stuck. Glued together, gazing only into each other’s eyes, the lovers lose touch with the rest of life. Not caring for anything else, death takes on an attractive hue, and they dream of sharing a last single breath together — a fantasy that lives on in the French euphemism, la petite mort, and in the romantic climax to Romeo and Juliet. But as the psychologist Erich Fromm put it in The Art of Loving (1956), for love to have a future, couples need to be able to move from falling in love to standing in love. Lovers must learn to embrace what lies outside their cosy twosome in order to survive. As Freud made explicit, dyadic love can be nurturing, but can equally be claustrophobic and alienating, and Aristophanes’ tale suggest it must be transcended.

The question is, how? How can the energy that romantic desire releases be directed outwards so that it feeds a passion not just for life together, but for life itself, led together. An answer is given by another ancient myth, one that is almost forgotten today. It concerns the infant god of love, familiar to us as Eros, but it also introduces us to another, less familiar figure, his brother.

by Mark Vernon, Aeon |  Read more:

Video: Hedwig and the Angry Inch

A Note to Readers

[ed. Down for a couple days, back up Monday (hopefully). Have a good weekend.]
Photo: markk

[ed. All good vacations come to an end eventually.]
Photo: markk

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A Friendly Chat With a Rich Person

Mike: Why don’t you start by introducing yourself?

Rich Person: I am 31, and my husband is 33. We have been married for three and a half years. I am a statistician and I work for a hospital in the research department. He has an MBA in finance and works for a bank. You can guess where the money comes from!

Mike: Your husband?

Rich Person: Indeed.

Mike: Can you tell us what your household income is?

Rich Person: Yeah, so this year we’re going to make about $360,000 total.

Mike: And you consider yourself “rich”, yes?

Rich Person: Absolutely, although it feels really weird to say that, and I have a lot of guilt about it.

Mike: Oh, interesting. Why is that?

Rich Person: Probably because neither of us grew up with any money at all. He was raised by a single mother who did her best, but had pretty bad financial habits; I had two parents and a stepparent who were all frugal but since nothing was ever frankly discussed, I didn’t learn much about money growing up.

We had everything we needed, but rarely what we wanted, if that makes sense. We both also spent most of our adult lives (which so far have been spent in college) really scraping by—we both had to live independently so we worked through undergrad and grad and got no help from our families.

Mike: Where did you and your husband go to college?

Rich Person: We both went to public state schools near our homes (we grew up in different cities). I got Pell grants and scholarships for undergrad, but it still didn’t cover everything so I have about $80,000 in student loans, mostly from grad school. He didn’t get as much help and a MBA is more expensive than an MS, so he has about $120,000 in student loans. When I think about $200K in student loans, my head spins. But then I think about our annual income and it seems proportional.

Mike: But your husband also knew he’d be pursuing a high-paid career too, right? So there was a plan of some kind—a vision that the debt would be manageable?

Rich Person: Yes, and actually we don’t regret the loans at all. We both like our jobs very much, and there’s no way we could be where we are without them.

Mike: So tell me about how you guys became “rich.” Was it gradual, or sudden?

Rich Person: Well, as you know, starting out a career in banking in 2008 was not the most confidence-inspiring prospect. His salary was $58,000 but we had no confidence in the stability of his job. My salary at the hospital right out of school was $48,000. Before we were married that felt tough (separate rent, bills, groceries, etc.) although a lot of that is because both of us reacted to growing up poor pretty badly—as soon as we had a few extra bucks we were buying rounds and ordering the filet.

Mike: This was in the middle of the recession, right? Maybe you were trying to jumpstart the economy?

Rich Person: We were dumb, and we both did stuff like that even when we were in school and struggling. I liked to treat my friends and would do so down to my last dollar, but thankfully I didn’t turn to credit cards. He had quite a bit of consumer debt when we got married from overspending that we paid off the first year we were both working our “real” jobs. He’s great with other people’s money, but his money is very much an emotional thing. We gradually got raises over the next couple of years, and then in 2011 he got his first real bonus, which just sent us over the moon. That was $65,000, which ended up being about $38,000 after taxes.

Mike: That’s somebody’s salary!

Rich Person: His bonus in 2012 was $85,000, and this year it will be $100,000. And the big, big change is that his base salary went from $65,000 last year to $160,000 this year.

Mike: How did that happen?

Rich Person: He got a new job with a major jump in title and responsibility. He’s the vice president of corporate finance at this new bank.

Mike: So we hear titles like that often. But what does that mean he does?

Rich Person: It means that now he has a fresh MBA to boss around! No, kidding. Sorta. He does manage someone now, and the department is brand new so with any luck he’ll be managing more soon. So corporate finance basically means they give and manage and split up loans to businesses. His new bank is relatively small so the businesses also tend to be small.

He also works 80 to 100 hours a week. Otherwise you’d be talking to him! He basically is home to sleep. He does usually get at least one full weekend day, though. And I work from home now so I’m always here. So, now with his basically $260,000 plus a $35,000 signing bonus and my $65,000 salary, our combined income is $360,000.

by Mike Dang, The Billfold |  Read more:

Image: uncredited

Jack Nicklaus Throws His Weight Behind Boccieri Golf's Secret Grip

[ed. This is a golf innovation that I'd actually like to try. Kind of makes sense.]

A year ago, Stephen Boccieri left the PGA Merchandise Show with a crazy idea. He was going to try and get Jack Nicklaus to endorse his new product, the Secret Grip.

Boccieri, CEO and president of Boccieri Golf, is best known as the inventor of the Heavy Putter, which debuted in 2003. The Secret Grip continues with the "heavy" theme. Boccieri added a 17-gram tungsten cap to the end of the grip, making it 40 percent heavier than an average grip.

Boccieri said the extra weight in the grip, called back weighting, quiets the hands and gives golfers more control over their shots. Thus, the idea behind the grip was not to increase distance, but to improve accuracy and control.

After several months of working his contacts in the golf industry, Boccieri was able to get the Secret Grip into the paws of the Golden Bear. After trying out the grips at the Memorial Tournament last May, Boccieri said Nicklaus was "intrigued" and wanted the grips on the rest of his clubs.

By September, the 18-time major champion signed on as a spokesperson for the Secret Grip. Boccieri couldn't believe it.

"It's the pinnacle of my career," Boccieri said. "For him to be associated with me is my greatest thrill."

While Boccieri makes a full line of clubs, he knows it's hard to compete with the TaylorMades and Titleists of the world. But Boccieri sees the Secret Grip as a great way to get golfers in the door and into the rest of his products. (It's a strategy that worked well for Apple when it debuted the iPod.)

by Ryan Reiterman, Golf.com |  Read more:

Image: Boccieri Golf

Can the Republicans Be Saved From Obsolescence?

One afternoon last month, I paid a visit to two young Republicans named Bret Jacobson and Ian Spencer, who work in a small office in Arlington, Va., situated above an antique store and adjacent to a Japanese auto shop. Their five-man company, Red Edge, is a digital-advocacy group for conservative causes, and their days are typically spent designing software applications for groups like the Heritage Foundation, the Republican Governors Association and the U.S. Chamber of Commerce. Lately, however, Jacobson and Spencer have taken up evangelizing — and the sermon, delivered day after day to fellow conservatives in the form of a 61-point presentation, is a pitiless we-told-you-so elucidation of the ways in which Democrats have overwhelmed Republicans with their technological superiority.

They walked me through a series of slides showing the wide discrepancies between the two campaigns. “And just to make them feel really bad,” Jacobson said as he punched another image onto the overhead screen. “We say, ‘Just wait — this is the most important slide.’ And this is what kills them, because conservatives always look at young voters like the hot girl they could never date.” He read aloud from the text: “1.25 million more young people supported Obama in 2012 over 2008.”

In the light of his Apple monitor, Jacobson’s grin took on a Luciferian glow. He is 33, wiry and well dressed and has the twitchy manner of a highly caffeinated techie. “And then we continue with the cavalcade of pain,” he said. The next chart showed that while the Romney campaign raised slightly more money from its online ads than it spent on them, Obama’s team more than doubled the return on its online-ad investment.

Spencer chimed in: “That’s when one of our clients moaned, ‘It’s even worse than I thought.’ ” Spencer, who is 29, possesses the insectlike eyes of a committed programmer. He and Jacobson are alumni of the University of Oregon, where they both worked on the Commentator, a conservative alternative paper whose slogan was, “Free Minds, Free Markets, Free Booze.”

“Then, once people think we’ve gotten them through the worst,” Jacobson said, “we pile on more — just the way Obama did.” He put up Slide 26, titled, “Running Up the Score.” “Obama was the very first candidate to appear on Reddit. We ask our clients, ‘Do you know what Reddit is?’ And only one of them did. Then we show them this photo of Obama hugging his wife with the caption ‘Four more years’ — an image no conservative likes. And we tell them, ‘Because of the way the Obama campaign used things like Reddit, that photo is the single-most popular image ever seen on Twitter or Facebook.’ Just to make sure there’s plenty of salt in the wound.”

Back in August 2011, Jacobson wrote an op-ed in Forbes alerting Republicans to Obama’s lead on the digital front. His warnings were disregarded. Then last summer, he and Spencer approached the conservative super PAC American Crossroads with their digital-tool-building strategies and, they say, were politely ignored. It’s understandable, then, that a touch of schadenfreude is evident when Jacobson and Spencer receive the policy-group gurus and trade-association lobbyists who file into Red Edges’s office to receive a comeuppance.

“Business is booming for us,” Jacobson said. “We’ll double or triple our bottom line this year, easily. But this isn’t about getting new business. We need the entire right side of the aisle to get smart fast. And the only way they can do that is to appreciate how big the chasm was.”

by Robert Draper, NY Times |  Read more:

Photo illustrations: Matt Dorfman. Photographs, from left: Steve Cole/Getty Images; Baran Ozdemir/Getty Images

NY Times Closes Loophole

[ed. This was a bit of an unwelcome surprise a few days ago as I've been using this easy workaround ever since the paywall went up. But, they haven't closed all the loopholes yet and NYClean still seems to work (no telling for how long).]

After The New York Times introduced its digital paywall in early 2011, some frustrated readers came up with elaborate ways to get around it, including launching a special Twitter feed and browser app. But it turned out there was a much simpler workaround: just delete “?gwh=numbers” from the URL and it gets rid of the paywall banner.

Well, it only took about two years, but the Times has finally put the kibosh on this method. Joe Coscarelli at New York Magazine noticed that deleting these characters no longer worked and later confirmed as much with a rep from the Times.

"When we launched our digital subscription plan we knew there were loopholes to access our content beyond the allotted number of articles each month," the rep said. 'We have made some adjustments and will continue to make adjustments to optimize the gateway by implementing technical security solutions to prohibit abuse and protect the value of our content."

In the nearly two years since the paywall launched, the Times has racked up 668,000 paid digital subscribers across its network of publications, which has helped slow the company's decline in advertising revenue. In that time, the Times has also gradually lowered the number of articles readers can access for free. Now, it looks like the Times is ready to take the final steps necessary to pressure readers to either pay up or find their news elsewhere.

by Seth Fiegerman, Mashable | Read more:
Image courtesy of Flickr, Digiart2001 | jason.kuffer

Neil Young

Kerala Sunset by Richard & Sheila on Flickr.
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NAGATA Shunsui（永田 春水 Japanese, 1872-1944）
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