If you’re like me, you’ve been put off from digging deeper into DeFi by the terrible signal-to-noise ratio of anything crypto-related on the interwebs. That’s why I found this DeFi primer (using Maker DAO as a specific example) by ET contributor and banking analyst Marc Rubinstein to be so fantastic.
Finished your holiday shopping? I hope so or else you’re out of luck. If you wait any longer you might be in for an unpleasant surprise. Retailers around the world have announced their concern with inventory shortage and supply chain delays as we enter the most wonderful time of the year. Most people don’t start holiday shopping until at least September with most taking advantage of the Black Friday and Cyber Monday sales. This year that might be a problem.
Covid has already wreaked havoc on the supply chain. More people are ordering online instead of going to a store. So the shipping industry has received a massive burden it wasn’t ready to carry. New safety regulations also slow down both production and shipping. And that’s not counting labor shortages that add another spanner in the works. Of course we can’t forget about massive cargo boats getting stuck in canals. That certainly doesn’t help keep things moving.
It’s been like this for awhile, but things are about to get a lot worse.
Most American’s do the bulk of their holiday shopping in November and December. That’s what retailers have been training us to do for years. With special holiday savings events every other weekend, it’s the best time to find that PS5 on sale. These sales have always been … interesting. We all know Black Friday is pretty dang close to the Purge. This year could be less physical pain, more economic turmoil.
If people aren’t out at stores taking doorbusters a bit too literally, then they’ll be doing their shopping online. Imagine everyone who goes out for Black Friday. Double that number. That’s about how many people will be ordering online on that one day. It’ll be chaos.
News outlets have already started to report on our impending doom and you can expect to see more coverage as we get closer to holidays. I highly doubt the articles and segments will encourage people to refrain from buying. More likely the suggestion will be to buy early and expect your shipments to be late.
— Harper Hunt | November 05, 2021|
On October 21, there was a tragic shooting on the New Mexico set of the film Rust. The TL:DR is that Alec Baldwin accidentally fired a prop gun that had live ammunition inside. This resulted in the death of cinematographer Halyna Hutchins and injured the director Joel Souza. That’s the basics of what happened. The full story is a bit more complicated.
The investigation is still ongoing, but recent facts have come out that paint a very damning picture. Rust was a film conceived of and produced by Baldwin. Now Baldwin has dabbled in producing since 1994, but hasn’t had any notable success. The project was low budget for modern Hollywood standards, and was considered an independent film. This meant they didn’t have a studio backing the project and instead funding came from individuals. And none of these individuals had much if any experience making movies.
This might explain why there was another big problem with the Rust production. There was a culture of complacency around firearms. Cast and crew would regularly take the prop guns, load them with live ammo, and shoot cans off set. Before October 21st, There were 3 accidental misfires where prop guns were thought to be empty. Several crew members complained to producers about the lack of gun safety.
To add another layer to this tragedy, most of the crew walked off set the day before the accident. I’ve written before about IATSE and their negotiations and possible strike. Well this is a clear example of what they were fighting for. Crew workers had to drive 50 miles to and from set every day. This is after spending 12-13 hours working in the harsh sun. The day of the shooting, members of IATSE packed up and left set. At least one producer forced them to leave. New non-union workers were brought on to replace them. 6 hours later Hutchins was shot.
Oh, and the Assistant Director who gave Baldwin the gun was fired from a set in 2019 after he mishandled a prop gun which misfired and injured someone.
As I said before, the investigation is still ongoing. Hutchins death was a tragedy and an accident. But it was a highly preventable one. And now everyone is scrambling to control the Narrative.
The New Mexico Governor is saying that if the film industry doesn’t set stricter regulations to ensure set safety, then the state will. IATSE is blaming the producers and non-union workers who were present. They called the replacement of union with non-union “inexcusable”. In response, the remaining producers have issued a statement that they were “in good standing with all major production unions and guilds”. Then you have the California State Senator calling for the ban of all live ammunition on theatrical productions.
Everyone is trying to add their own two cents and put their spin on it. Placing blame, deflecting blame, and trying to get their 15 minutes of fame. Because the cat’s out of the bag. Film sets are incredibly unsafe and people can die. Now it’s time to see what the investigation finds and which narrative spin comes out on top.
— Harper Hunt | October 29, 2021|
They made a deal! IATSE was able to reach an agreement with studios and networks just 24 hours before the strike would have gone into effect. Now the deal must be sent to IATSE members for approval. If the majority of IATSE members don’t vote in favor of ratification, the strike is back on. While IATSE was able to get better pay across the board and better working conditions, a lot of members feel it’s not enough.
Meanwhile. A strike did happen somewhere else. At John Deere, more than 10,000 employees walked out of 14 facilities. This is an active strike that’s been going on for over a week now. And I haven’t heard much about it. I’ve heard a lot about the IATSE negotiations from friends, trade journals, and main news coverage. And that was about a potential strike. I’m finding out about an actual strike a week after it started.
John Deere didn’t have missionaries to bring their strike to the public’s attention. IATSE had celebrities like Jane Fonda and Seth Rogen posting in favor of the negotiations. They used the full power of Hollywood to get mass attention. I know what the IATSE strike would involve. I know who would be affected, what they want, and what the ramifications would be. All this with very little effort on my part. I didn’t have to seek out much information and when I did there were dozens of media sources covering it. The John Deere workers don’t have that luxury.
Without a proper Missionary they are waiting for people to notice. And the only people who are, are people already affected by the strike. Most news outlets aren’t covering the story or aren’t giving it the same weight and attention IATSE got weeks before they entered negotiations. Without a face to put on the story, it just doesn’t get the same attention.
— Harper Hunt | October 21, 2021|
If you hadn’t heard about the potential IATSE strike allow me to catch you up to speed. IATSE is the much needed abbreviation for the International Alliance of Theatrical Stage Employees. They’re the thousands of people who make movies and television. All those names in the credits, that’s them.
And they’ve had enough. The crew works horrible hours with no breaks. Imagine your call time to work was 6am. But you have to wake up at 4am to get there in time and set up. Then work continues non stop until 9pm. Go home, get some sleep, and do it all again the next day. That’s not counting overtime. And the pay is not worth it.
Now the IATSE is ready to strike. They’re looking for a few things. One is better pay that accurately reflects the work done for streaming services. Technically shows produced for streaming services like Hulu and Netflix don’t count as a series and workers don’t get the higher pay that entails. So Stranger Things and The Handmaiden’s Tale are TV enough to win Emmys, but not to pay their crew.
IATSE is in the sixth day of talks with the Alliance of Motion Picture and Television Producers right now. They hope to come to a resolution, but they also have picket signs ready. And if the strike does happen, Hollywood is in trouble.
Remember how all the movies and shows from 2008 were super delayed, short, and just really bad? That’s because of the writers strike. Now imagine if it’s not just the writers. It’s the lighting tech. The cinematographer. The grip. The boom mic guy. If they go on strike Hollywood is shut down.
The IATSE expects to reach an agreement within days. But just in case, don’t hold your breath for Season 2 of Emily in Paris.
— Harper Hunt | October 12, 2021|
The Activist is an upcoming reality show that really shouldn’t have made it past the “there are no bad ideas” stage of development. It’s the most tone deaf, disconnected concept I’ve ever seen.
The basic idea is that the show will feature six activists from around the world and follow them as they “compete in missions, media stunts, digital campaigns and community events”. Think Shark Tank meets The Apprentice. Contestants will be judged on how much social media engagement they receive, and the grand prize is an opportunity to attend the G20 Summit in Rome.
Yeah.
Contestants will be judged not by quality of their work but by the quality of their Instagram captions.
The show and its marketing campaign present this very shallow idea of supporting activism and getting them mainstream attention. But the show isn’t prepared to follow through on helping create change. The prize isn’t money or manpower. It’s a chance to beg powerful people to pretend to care.
At its core, this show is not about activism and social change. It’s about social media attention. Just look at the judges! Usher, Priyanka Chopra Jonas, and Julianne Hough have no experience in activism aside from Instagram posts and speaking at charity events. They’re not leaders of change. They’re mid-level celebrities who wouldn’t be out of place judging The Masked Singer.
The show has been justly lambasted on social media as literally everyone has a problem with the premise. It’s been called “performance activism personified” and it is. It’s encouraging participants and viewers to see activism not as something meant to enact change, but a way to get attention. It sets a standard that successful activism isn’t making change, it’s getting likes and views. It ignores the small, boring, and thankless work that is done on a grassroots level. The work we need to see more of.
We don’t need more beautiful people talking about how they use metal straws to save the sea turtles. We need more people who are willing to do the work. This show isn’t doing anything to help anyone and I, for one, will not be watching.
— Harper Hunt | September 16, 2021|
Recent major media stories that feel to us like they’re part of a larger narrative campaign.
Modeling common knowledge by analyzing missionary statements and their reverberations works. Except when it doesn’t.
What do you get when you give a Raccoon billions of dollars AND invisibility from regulators? Collusion and insider trading.
Most of us are under the impression that a protracted conflict within China will increase national unity. Not this time.
Recent Notes
The Intentional Investor #25: Cullen Roche
In this episode of The Intentional Investor, host Matt Zeigler sits down with Cullen Roche, an economist, writer, and financial maverick who has carved out a unique space in the world of finance through his independent thinking and unconventional approach. From his large Irish Catholic family to his journey through finance, Cullen shares an intimate look at how curiosity, non-conformity, and a commitment to understanding complex systems have shaped his professional and personal life.
The Goldstein Machine
A threat built on a shred of truth, an existential fear, and our utter inability to stop it is the perfect tool for psychological control at scale.
It is a Goldstein Machine.
The Intentional Investor #24: Ben Hunt
In this profound follow-up conversation, Matt Zeigler welcomes back Ben Hunt to explore the evolution of Hunt’s writing and worldview. Beginning with reflections on their childhood relationships with religion and storytelling, the discussion moves into Hunt’s journey with Epsilon Theory – from its market-focused origins to his current philosophical crossroads.
The Intentional Investor #23: Kevin Muir
Kevin Muir, author of the Macro Tourist newsletter and a seasoned trader, joins The Intentional Investor for a fascinating conversation that weaves together trading, life lessons, and Canadian culture. From his early days mastering Monopoly statistics to pioneering computer-driven trading strategies at RBC in the 1990s, Kevin shares candid stories about finding his path in finance.
Kevin discusses growing up as the older brother of a professional hockey player, his journey from discount brokerage manager to institutional trading desk, and how becoming a father changed his perspective on risk and career. He offers unique insights into market psychology, friendship, and the importance of finding work you genuinely love.
It Was Never Going To Be Me
The Road to Serfdom is not an endless road, but its path and duration, what I call the Great Ravine, is not up to us to choose. While we walk this road the only thing we can save is our souls, and we do it with one simple sentence: It was never going to be me.
The Intentional Investor #22: Eric Markowitz
In this engaging episode of The Intentional Investor, host Matt Ziegler interviews Eric Markowitz, exploring his fascinating journey from investigative journalism to investment research. The conversation weaves through Eric’s formative years, professional evolution, and life-changing experiences, offering valuable insights into the intersection of media, investing, and personal growth.
DeepFreak
In seven days, a narrative about AI tech technology became a narrative about what it meant for chip manufacturers, which because a narrative about national security.
The Intentional Investor #21: Corey Hoffstein
Join Matt Zeigler as he sits down with Corey Hoffstein, a successful entrepreneur and financial innovator, for a candid conversation about his remarkable journey from video game programmer to financial pioneer. In this wide-ranging discussion, Corey shares the story of his career trajectory – from teaching himself programming at age 12 to founding Newfound Research and developing groundbreaking investment strategies.
A Death in the Family
Today I know that the meaning of the American Presidency is dead, and like the loss of a beloved family matriarch it’s a loss I’ll never get over. I know that I have to accept it, but I’ll never get over it. And right now I’m still pretty angry at ALL of them.
The Intentional Investor #20: Dr. Preston Cherry
Join host Matt Zeigler as he sits down with Dr. Preston Cherry, founder and CEO of Concurrent Wealth Management and author of “Wealth in the Key of Life.” From his father’s treasured vinyl collection to transformative “fog years,” Dr. Cherry shares his journey of discovering the deep connections between music, money, and meaning.
The Four Horsemen of the Great Ravine, Part 1
Every so often, things fall apart.
In the words of those who lived it, here are the vibes and the semantic signatures of the twentieth century’s most devastating social collapses.
From the meaning in their words, wisdom for our future emerges.
Data Engineer I
We’re looking for a Data Engineer to help build and maintain the data pipelines that power our AI-and NLP-driven narrative analysis platform. You’ll work with everything from structured financial data to unstructured news and social media content.
Business Analyst
Second Foundation Partners is looking for a Business Analyst to help us build tools that make sense of the world’s narratives using generative AI.
Digital Content Writer I
Second Foundation Partners needs a talented, passionate writer intrigued by the opportunity to bring data to life through engaging daily content about media, markets, and sports.
Chapter 6: The Possibility Engine
Humans evolved to acquire symbols as quickly as possible.
Language and storytelling evolved to be acquirable as easily as possible.
That’s why our tales spin us.
Chapter 5: The Axe that Never Was
Our brains evolved to tell stories before they evolved to speak.
This has fundamental implications for our susceptibility to communication in the networked age.
Chapter 4: Out of Eden
If we care about the influence of social networks on our minds, why are we talking about bipedalism and the 8 million year cycle of co-evolution it kicked off?
Because it defined how our young were parented, how we taught them, and what they were exposed to. Because it changed how our symbolic brains evolved.
Intentional Investor #19: Yuri Khodjamirian
Join host Matt Zeigler as he interviews Yuri Khodjamirian, Chief Investment Officer at Tema ETFs, in this captivating episode of The Intentional Investor. From his early years during the collapse of the Soviet Union to building innovative investment products today, Yuri shares his remarkable journey through the world of finance and entrepreneurship.
Chapter 3: Caliban’s Garden
Man’s road to becoming a storyteller began with a single step.
That step kicked off millions of years of co-evolution of the human brain, society, language – and our relationship with story.
Chapter 2: What is Story?
There are a lot of ways to define a “story.”
But to understand how story interacts with human consciousness requires us to be more specific.