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Got Crystals? Gem Mining Could Be Your Full-Time Job
(10/19/2020)
- During the coronavirus pandemic, more Americans are visiting “finders, keepers” pay-to-dig mines to search for crystals and gemstones.
- Mining sites in NY, North Carolina and elsewhere charge visitors $10-14 for all-day access.
- Rookie miners have reported discovering $2-5K worth of crystals, with some leaving full-time jobs to camp out and mine.
- Crystals and gemstones have become increasingly popular (and more valuable) as celebrities such as Kim Kardashian have shared their collections.
- It isn’t unrealistic for full-time miners to earn up to $10K per month.
Why Airbnb Is Canceling Its D.C. Reservations for Inauguration Week
(01/13/2021)
- After local pressure and FBI warnings, Airbnb announced that it’s cancelling all DC-area reservations during inauguration week.
- The aggressive decision was made after discovering many of the Capitol Invasion rioters stayed in nearby Airbnbs.
- DC residents nearby these Airbnbs recount being horrified seeing rioters wearing Proud Boys gear, celebrating after the invasion and harassing them for wearing masks.
- Ironically, Airbnb’s platform adjustments hiding the identity of potential guests to prevent racial discrimination has made it harder to identify hate-group members.
Lost Passwords Lock Millionaires Out of Their Bitcoin Fortunes
(01/12/2021)
- Of the 18.5 million outstanding Bitcoin, almost 20% (currently worth $140B) is lost or stranded in digital wallets.
- Many owners of these wallets invested in Bitcoin when it was nearly worthless a decade ago but forgot their passwords.
- To access digital Bitcoin wallets, a password is needed to unlock a small hard drive (IronKey) containing private keys.
- Programmer Stefan Thomas forgot the password to his wallet with $220M in Bitcoin.
- 10 login attempts are allowed until wallets permanently lock; Thomas has 2 attempts left.
Pricier Vehicles Seen Driving Rebound in U.S. Auto Market
(01/04/2021)
- 2020 US auto sales totaled an estimated 15.9 million vehicles, down (-4.7%) from 2019.
- Overall vehicle sales hit 40-year lows in April (2020), dragged down by a sharp decline in fleet sales to car rental services.
- SUVs and pick-up trucks increased to 79% of total sales; sedans have declined from 50% (2010) to 20% of total sales.
- Industry declines were partially offset by higher demand for premium brands (eg Tesla, Audi, Mercedes), which benefitted from many higher-income Americans being economically sheltered from coronavirus.
China Sentences Ex-Finance Chief to Death on Corruption
(01/05/2021)
- The Chinese government sentenced Lai Xiaomin, the former chairman of Huarong Asset Management, to death for accepting 1.79 billion yuan ($277M) in bribes from 2008-2018.
- Lai was also convicted for bigamy (getting married while still married); all of his assets were confiscated.
- While its rare for China to impose the death penalty for corruption (usually 16-18 year worst-case prison sentences), the reported bribes have sparked public outrage.
- The crackdown shows China is willing to impose maximum punishment for corruption.
Here’s what we know about the Google union so far
(01/05/2021)
- 230 Google employees announced they’re forming a minority union open to all Alphabet (parent company) employees and contractors.
- As a minority (solidarity) union, the Alphabet Workers Union (AWU) won’t face legal regulatory (majority union) hurdles such as holding mandatory votes to recruit most employees.
- Also, contractors can be included in minority unions.
- While the AWU hasn’t published demands, it’s probably motivated by Google employees protesting Pentagon contracts, executive sexual harassment and censorship.
- Google currently has 123,000 full-time employees and 130,000 contractors.
A Covid-19 Relief Fund Was Only for Black Residents. Then Came the Lawsuits.
(01/03/2021)
- In July (2020), Oregon earmarked $62M (4.5%) of the $1.4B in COVID-19 federal relief funds it received specifically for Black residents and businesses.
- The Oregon Cares Fund was created due to the disproportionate health and economic impact of COVID-19 on Black people.
- However, $8.8M of the remaining funds are frozen after one Mexican American and two white business owners filed lawsuits, claiming the fund discriminates against them.
- Oregon relief funds specifically for undocumented immigrants and Asian business owners have not faced lawsuits.
How Amazon Destroys the Intellectual Justifications for Capitalism
(12/27/2020)
- Small manufacturers that used Amazon to sell their products online have been undermined by Amazon-brand clones.
- Amazon has copied the design and functionality of small-brand products such as tripods, diapers and shoes.
- It then used its financial largesse to sell the Amazon brand clones temporarily at a loss to capture market share.
- Some small manufacturers claim they were kicked off the platform after the Amazon clone was released.
- Amazon’s rise at the expense of small companies undermines capitalism rewarding innovation and fostering competition.
What Happens to Your Body on No Sleep?
(04/02/2019)
- Scientists have found that the effects of acute sleep deprivation, or all-nighters, kicks in after being awake for 16-18 hours straight.
- The first sign is a sluggish mind, with reaction times lagging to the equivalent of being legally drunk by the 24th hour awake.
- After 24 hours, your brain starts forcing you into 10-20 second periods of “micro-sleep”.
- After 35 hours, the brain’s emotion-emitting amygdala becomes 60% more reactive and the ability to regulate emotions declines.
- Hallucinations are common after 48 hours awake.
