Patty Hayes argued that advertizing is a useless drain on society. Highlights of the argument include:

• If all companies were banned from advertizing then all of the funds they pump into it would either have to go towards investing in better products, lowering prices for consumers, or generating more profit. These would all ultimately benefit people more.
• Since consumers would see less marketing they would buy less and save more – probably a good thing for the American consumer.
• Products with good quality rather than those with good marketing teams would do well in the marketplace.

Read more of the argument here.

Source: P.P.P.S

Credit Suisse surveyed people across the developing world to see how they spent their incomes, writes Derek Thompson. Highlights of the report include:

• Brazilians are the most optimistic. Only 7% saved anything, and over half didn’t save at all.
• China, on the other hand saves the most. 30% of income is saved.
• Due to India’s call centers many think that the country is a telecommunications marvel. Yet only 19% of those in the country have access to the internet.

Read more about what the survey tells us about Russia, Saudi Arabia, and other developing countries, as well as how they compare to the United States over here.

Source: The Atlantic

How do companies such as Amazon manage to get you your products in just two days? Marcus Wohlsen reported:

• Most distribution centers are still run by humans who go and pick your products for you from shelves.
• But there is a move towards automated robots. One type, that go to the shelf and bring the product back, can fill 1,000 orders in an hour.
• Amazon instead has invested in robots that lift the shelves themselves and then brings them over to workers who are guided by lasers to find the exact product to pack.
  • The robots that pick the shelves learn over time which shelves get used more often and keep them closer to the front, meaning that the process gets faster with experience.

Read more about the conditions in the factories, and why the quest for speed has become so important over here.

Source: Wired

Over the years the humble mirror hasn’t changed much. Now we’re seeing the development of “smart mirrors” writes Daisuke Wakabayashi:

• The medical mirror displays your pulse rate when you look at it. It does this by using a camera that measures slight variations in the colour of your face as your heart pumps blood in and out of it.
• Fashion stores can allow you to ‘try on’ clothes virtually and see the results in a mirror.
• Another can show you the latest in news, weather and traffic updates.
• The only thing stopping these mirrors from widespread adoption is the price tag: most cost tens of thousands of dollars.

Read more about the different things that mirrors of the future will be able to do over here.

Source: The Wall Street Journal

Via: Marginal Revolution

If you have a car with only a few years on it, now might be a good time to sell it and buy a brand new car writes Kathleen Pender:

• Since 2007 the average trade in value of a 6 year old car has risen 33%.
• Usually experts recommend buying cars that are 2-3 years old because that way you avoid paying for the years when the car depreciates the fastest, and you still end up with a fairly new car with the latest advancements.
• Now however it might be more cost effective to buy a new car than a used car. In some cases the monthly payments are actually lower on a new car.
• Part of the reason for this is that during the depths of the recession few people bought new cars – which means the supply of cars that only have a few years on them is low.

Read more about some examples of the cars available, and why we’ve likely hit a plateau over here.

Source: SFGate

Via: Newmark’s Door

What does the term “startup” really mean? Paul Graham gave his take:

• Countless companies are started every day, yet only a fraction of them are startups.
• This is because to be a startup you have to be designed for massive growth. Most of the businesses that are started in the US are restaurants and salons. They are not created with rapid growth in mind.
• It is important to make it clear that a startup is only designed for growth. It doesn’t have to successfully attain growth to be a startup. Most startups fail.
• The best way to measure growth is by revenue. If the product is given away for free at first then the best proxy is number of users.

The full article goes into much deeper detail about what it means to be a startup and provides several tips for budding startup entrepreneurs. Read it over here.

Source: Paul Graham

Via: Kottke

In honour of (American) football season, Jimmy Stamp went over some of the history behind, and the dynamics of, the football field:

• American football owes its origins to rugby and soccer. This is evident in the field that the game is played on – a grassy green rectangle.
• Football doesn’t require a flat surface, because the ball doesn’t have to roll. Instead the field’s purpose is to mark territory and show which team has more of it.
• When indoor stadiums became popular natural grass became too expensive to maintain. Artificial grass popularly known as “Astroturf” was developed.
• The rubber base of modern artificial grass provides cushioning that helps protect the athletes as they tumble around on the field.
• While this artificial grass could, in theory, be painted any colour, the rules mandate that the grass be green. This is to prevent sponsors from taking over the field itself.

Read more about developments in goal posts and other changes in the game over here.

Source: Smithsonian