Surge Pricing Comes To The Restaurant Industry

An elite London restaurant is experimenting with surge pricing wrote Richard Vines: The Bob Bob Rica

People Are Using Ubers Instead Of Ambulances

Brad Jones wrote about an unexpected healthcare cost reduction method: Getting into an ambulance can

Why Have A President When You Can Have A Monarch?

Leslie Wayne wrote about today’s monarchists: The International Monarchist League argues that

 

The Economics Of Being A Male Model

June 22, 2015 in Daily Bulletin

Nikita Redkar wrote about the struggle to be a male model:

  • Budding models are flown to New York where they’re given money to pay for expenses such as rent, food, and clothing.
  • This money is offered to them as a loan and they are expected to pay it back. With interest.
  • However most modelling jobs don’t pay anything – even high end ones such as being photographed on the cover of Vogue.
  • The few times models are paid it may not be in cash, instead it maybe something like clothing.
  • The debts that models enter into thus build up quickly and can be up to $20,000 after just a few months.
  • Since the shelf life of most models is just a few years, they don’t have a lot of time to pay that debt down.
  • A model’s success will depend, in part, on the trends of the day.
  • These days models with a “relatable, boyfriend-handsome” look are popular as it is thought that they can appeal to both males and females.

You can read more about what it’s like to be in an industry and find a documentary about the subject here.

Source: Fusion

What An Assembly Facilities Manager Thinks About Jurassic World

June 21, 2015 in Daily Bulletin

Jurassic World has done rather well at the box office. Jacob Bacharach provided his inputs into how the park was managed (spoilers):

  • Park attendants chose not to kill the Indominus Rex because of the amount of money spent on it. Yet the $26 million it cost pales in comparison to the possible tort damages the park would be liable for.
  • While the park staff claim they’ve hired the best structural engineers, it seems that the enclosures are easily damaged with typical day to day wear and tear.
  • Jurassic World was a resort with hotels. Yet when guests were asked to take cover most stayed outside.
  • Letting kids drive their own bubble cars around live dinosaurs seems inadvisable.
  • Designing those bubble cars to withstand the force of a bullet rather than, say, the crushing jaws of a dinosaur, or even an inadvertent stomping by a dinosaur, seems ill-advised.
  • The signals on the radio would often break up indicating a lack of repeater stations.
  • There seemed to be no trash cans.

The full article has much more and is a very entertaining read. You should get to it here.

Source: Jacob Bacharach

Via: Marginal Revolution

Want To Get Promoted? Take A Vacation

June 19, 2015 in Daily Bulletin

Shawn Achor looked at the argument for taking more vacation:

  • Americans are taking less vacation than ever before.
  • This is a pity since research indicates that those who take all of their vacation are 7% more likely to get promoted than those who chose not to take 11 or more days of it.
  • The type of vacation matters. Those that are badly planned and stressful don’t refresh employees as much.
  • The ideal vacation is planned a month in advance, discussed with co-workers, and takes place far away from your home city.
  • Your managers will thank you for it – most associate personal happiness with productivity, and 31% want employees to take vacation to be more happy.

You can read more about the research and what it shows here.

Source: Harvard Business Review

The Benefits Of Having A Large Wolf Pack

June 18, 2015 in Daily Bulletin

Wolves, like humans, are social creatures. The Economist took a look at the benefits that being group oriented had for wolves:

  • One would think that those who live in larger social groups are more prone to getting sick from one another.
  • However studies of the wolves of Yellowstone indicated that the size of a pack didn’t affect the likelihood of getting a disease.
  • Moreover those in a larger pack were more likely to survive getting a disease, possibly because other wolves could help hunt.
  • The researchers also found that age matters. Having an older wolf aged six or more increased the likelihood that a pack would win a fight against a rival pack.
  • The effect was large. If two equal sized packs went to war, the side that had an aged wolf would have a 150% greater chance of surviving.
  • Since the average wolf lives four years, having a six year old veteran probably means that the older wolf has more tactical combat experience, shepherding its pack-mates to fight better.

Read more about the wolves here.

Source: The Economist

Legalizing Marijuana And Housing Prices

June 17, 2015 in Daily Bulletin

Kathryn Vasel wrote that the legalization of marijuana in Colorado has led to a booming housing industry:

  • House prices in Denver, Colorado, increased by 10% in March, the second best, behind San Francisco, out of cities across the United States.
  • It’s not just tourists and patients coming for weed. The industry has created jobs in dispensaries, security, and electrician companies.
  • Unsurprisingly those interested in technology have also been drawn to the state, causing Colorado to become a potential Silicon Valley like tech hotspot.
  • There are some downsides. At least one seller had trouble selling their house because the neighbours grew an alarming amount of pot.
  • And if more states begin to legalize it the boom might come to a halt.

Read more about the impact that the legalization is having on Colorado’s economy, and how it could potentially lead to a bust, here.

Source: CNN

Via: Marginal Revolution

The Oldest Debts Still Being Paid

June 16, 2015 in Daily Bulletin

On Reddit historians discussed the oldest debts still being paid:

  • The loans that the British took out to fight Napoleon in the early 1800s are still being paid back.
  • Debts related to the South Sea Company of the early 1700s – a British public/private partnership given monopoly over trade with South America – continue to be paid.
  • But the oldest bonds still being serviced are likely those issued by a Dutch water board entrusted with maintaining the condition of local dykes in 1624, almost 400 years ago.
  • The currency that this debt is paid in has changed from Carolus Guilders to Flemish Pounds to Dutch Guilders to Euros, tracing the rise and fall of empires.
  • Many of these debts are set up as perpetuities – they will pay interest until the end of time – and so could continue to be paid for a long while yet.
  • Usually such debts are taken out when the government can get abnormally low interest rates – for example when citizens buy war bonds in a patriotic fervour.
  • In such cases inflation will quickly eat away at the value of the interest that has to be paid, making the debt a great deal for the government.

Find the full discussion here.

Source: Reddit

The Economics Of Airport Design

June 15, 2015 in Daily Bulletin

Jessica Hullinger looked into some of the design decisions that influence the way that airports are created:

  • There is a “golden hour” – the first sixty minutes after a passenger clears security – when passengers are in a self-indulgent mood and are more likely to spend. Shops are arranged to take advantage of this.
  • Every additional hour spent at an airport after that is worth $7 in additional sales per passenger.
  • To increase the length of time that travelers spend shopping airports are trying to speed up the check in process. The number of monitors with flight information is also increasing to give flyers the confidence to shop without worrying about missing their flight.
  • Happily this includes speeding up the process of security. Every 10 minutes spent waiting to be frisked by officers reduces a passenger’s spending by 30%.
  • Carpets are used because they create a feeling of comfort. Comfortable shoppers spend 7% more on retail and 10% more on duty-free.
  • Some airports will require passengers to walk-through duty free shops with multiple twists and turns to get more merchandise in front of them.
  • But it’s not all about sales. To give passengers a sense of orientation, terminals try to provide a clear view of the runway the moment passengers get past security.
  • Airport signs usually use Helvetica, Frutiger, or Clearview for their font because of how readable they are. The font is big because every additional inch to a letter increases its viewing distance by 40 feet (12 meters).
  • The colour system of a sign may change in between terminals. For passengers trying to get to another terminal this is an indication that they’re headed the right way. For those who aren’t the sudden change will create a feeling of discomfort which will cause them to pause and see what’s wrong.
  • Sculptures will be used as navigational elements. Passengers can say they’ll meet each other by certain statues or paintings.

The full article has more details and will change the way you look at your surroundings the next time you fly. Read it here.

Source: Mental Floss

The Future Of Air Travel

June 14, 2015 in Daily Bulletin

The Economist took a look at the future of airline interiors:

  • At the moment there is a wide gap in the airline experience. On the one end planes are figuring out more ways to cram more seats into economy class.
  • At the other end is Etihad airways that offers a three room hotel experience, complete with private chef and butler.
  • Things could get worse for those who are only willing to pay for economy. Some airlines are thinking about standing room only planes for short haul trips – if the regulators will let them.
  • But other changes could take place. By stacking seats so that some are raised, and some are lowered (pictured above) a plane could fit more passengers without compromising on space.
  • Another concept is to have seats made of memory materials that can morph. They adjust to a person’s body size, and if a passenger is willing to pay more, the seat expands to become more like a business or first class one.
  • Things like lighting could psychologically convince passengers that they have more space than they do. Lighting ceiling curves with sky-blue light generates a sense of expanding space above a passenger’s head.
  • Meanwhile illuminating vertical walls with white light creates a sense of greater width.
  • And the overall flying experience may improve. Large screens could replace windows and provide a better view of the outside as passengers fly through the air.

The full article has many more details, with pictures showing the various configurations that may greet the passengers of the future. You should read it here.

Source: The Economist

Men Only Flights

June 12, 2015 in Daily Bulletin

As recently as 1970 United Airlines offered men only flights wrote Gary Leff:

  • The flights operated between the New York-Chicago and Los Angeles-San Francisco business districts.
  • Both women and children were banned from the planes except, of course, for the air hostesses who would light the men’s complimentary cigars.
  • “Last minute message service” was offered, allowing passengers to have the airline make a call to the office on their behalf.
  • The flights also had a teletype update service to provide passengers with closing market numbers.
  • One possibly apocryphal story from the era suggests that when wives of frequent travelers on the men only flights were asked about the flight, the most common response was “what flight?”

See ads for the flight from the era, and read more over here.

Source: View from the Wing

Via: Marginal Revolution

Careers In The Professional Computer Gaming Industry

June 11, 2015 in Daily Bulletin

Cracked covered some of the more interesting career options available in the computer gaming industry:

  • Computer Sports athletes can make incredible sums of money. Not just through winning game championships – which can be worth millions – but also through team sponsorships.
  • Sponsoring a computer game player is particularly lucrative since a lot of people who watch professional esports are players themselves and so a sponsor knows that they’re appealing to their target base.
  • But players don’t have to play professionally to make money. Those who stream their screen through services like Twitch while they’re playing can also make a load of money, as long as the way they play is entertaining.
  • Any professional sport has professional commentators that describe game action and provide pre/post-game analysis.
  • Professional teams with millions banked on them also need teem managers to ensure the players are well rested and don’t party too hard before a game.
  • Unfortunately the average person can’t necessarily take up any of these jobs. A lot of the support roles are filled by retirees from the industry – usually those around 30.

Read more about the industry and other fascinating career tracks here.

Source: Cracked