Archive for the ‘Electronics’ Category

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It’s All in the Wrist

Wednesday, May 25th, 2011


(credit: JASON ANFINSEN)

Going to Bonnaroo this year? Prepare to wear your credit card on your sleeve. Er, wrist. Concert producers have switched from a paper-based to a microchip-based ticketing system, which means you’ll be wearing your right to be there in a little plastic bracelet on your wrist.

But wait, there’s more! Concertgoers can also choose to embed their credit card information in their bracelets, so they’ll be able to pay for stuff without searching for their wallets. (We all know how much of a hassle that is, right?)

You’ve got to love how easy it’s becoming to spend money. Okay, maybe it’s not such a good thing for our budgets (or our souls) here in the U.S., but think about the implications for people who live in countries with developing economies… Technology like this could eliminate a lot of hurdles to economic participation – kind of like how the invention of the cell phone ended up democratizing long-distance communication in Africa. (In 2005, 1 in 11 Africans had a mobile plan; only 1 in 33 had a land line.)

How Not to Make Major Financial Decisions

Thursday, May 19th, 2011


(photo credit: BaronBrian)

Looks like wealthy Russians (and, yes, wealthy lunatics everywhere) are spending their nest eggs on underground apocalypse-proof nests. After all, the world is scheduled to be laid to waste on December 12, 2012. Or May 21, 2011. Depending on which irrefutable evidence you’re looking at.

But this seems like as good a time as ever to point out that basing your financial strategy on the ancient Mayan calendar is probably about as smart as trying to time the market. Base human emotions – fear, anxiety, and greed, for example – don’t mix well with financial transactions. (See Frank Murtha talk about it if you don’t believe us.)

Wait. Can you time the market?

Online Shopping Gets Smarter [Than You]

Wednesday, May 4th, 2011


(credit: Unhindered by Talent)

Guess what? Retailers are getting smarter and smarter when it comes to separating you and your cash (or credit card info, to be more precise).

First there was members-only designer discount site Gilt Groupe, with time limits for checking out with your items. Then we saw the daily deals companies like Groupon and LivingSocial. There’s Rent the Runway, where you can rent a hot little piece of couture for an event for under $200.

And now, for a mere $30 monthly subscription fee, online shops like JewelMint will get to know your tastes and offer up pieces it’s sure you’ll like. All based on an algorithm. This is in some ways even cooler than the computer from Star Trek: The Next Generation that made Captain Picard all those cups of tea with a simple voice command.

The online shopping world will surely continue to evolve, getting cooler, more convenient, and quite a bit more manipulative in the process. So don’t forget to bring your brain when you go on your next online shopping spree.

Think you’re a conscious consumer? Take our Where Does the Money Go? challenge!

How one manufacturer in Japan tripped up the Apple machine

Friday, April 1st, 2011

Do you know what makes your iPod go?

Here’s a hint: It rhymes with phithium pholymer.

No?

It’s made in Japan.

Still not getting it?

The shutdown of the Japanese factory that makes it is disrupting Apple’s production line.

…

If you guessed “a very specific and rare polymer used to hold together the lithium ion batteries used in iPods and a variety of other gadgets,” you’re right!! Ding!

This story is crazy. Who knew that one chemical made by one small company halfway across the world could affect iPod buyers in the U.S.? This is a good example of outsourcing in action.

For now, the company (Kureha) is scrambling to get back into action, but in the meantime, will the price of an iPod go up? Should we start stockpiling them in our panic rooms? Can we order iPods with the soothing voice of Justin Beiber pre-installed on them??

Seriously, though. Do you know where your favorite products are made?

Random Young Writer Making a Killing in the Kindle Store

Wednesday, March 9th, 2011


Amanda Hocking (photo courtesy Business Insider)

Technology changes everything, again.

Amanda Hocking is living the dream: she’s in her mid-twenties, writing what she wants to write, and making a serious profit without any of the usual middlemen. No publishers, no editors, no marketers, no book-signing tours.

The Kindle store allows her to connect directly with readers, who sometimes pay only a dollar to download her work. But multiply one dollar by 100,000 downloads, and then imagine taking home 70% of that. (Amazon keeps the rest.)

This is good news for young writers looking to make a name (and a profit) for themselves, but what about all those people who make their living as publishers, editors, and marketers?

Sharing the Stuff That Drives Electric Cars

Wednesday, March 9th, 2011

“Xatori, a Silicon Valley software start-up, aims to create a network of electric car enthusiasts who make their household power outlets and home chargers available for drivers who need to top off their battery or who find themselves out of range of the few public-charging stations currently available.”

What do you think?

Would you ever pay for a total stranger’s gas? What about letting them charge their phone in your garage?

Are electric car owners just more generous?

Used Mobile Phones More Valuable Than You Might Think

Wednesday, March 2nd, 2011

“More companies are jumping into the business of refurbishing and reselling the used cellphones and other electronic gadgets clogging Americans’ drawers and closets.

Within a few years, the used market could account for a fifth of all cellphone sales in the U.S., says Stephen Manning, chief executive of ReCellular Inc., one of the largest U.S.-based cellphone refurbishers.”

What do you think?

What do you usually do with old cell phones and other electronic items?

As Seen on the Web… Even Hipster Photo-Sharing Apps Get Nervous Sometimes

Thursday, February 24th, 2011

Ever hear of a little app called Instagram? How about a website called Hunch? Well apparently they were both created by real people, and in this video those real people are in the same room.

Chris Dixon talks about the long, weird journey from college to Instagram fame, and the terrible moments after the app launched for the first time. He’s interviewed by Kevin Systrom, the creator of Hunch and current darling of the tech start-up world.

This Fall, Look Forward To High, High Prices!

Friday, February 18th, 2011


(photo credit: Thing Three)

“Most” consumer goods are about to get a lot pricier - food, clothing, appliances, you name it. Why? Commodities, demand, and labor! Here’s what that actually means for you…

  • The cost of raw materials, like cotton, wheat, and metal, has increased wildly in recent years. These raw materials are traded on exchanges kind of like stocks, but they’re called commodities. Just like stocks, the prices of commodities changes frequently.
  • When commodity prices shoot up, it’s more expensive for companies to make their products, and that cost gets passed on to you, the consumer.
  • Besides the price of materials, there’s the cost of people. Workers overseas now demand higher wages than they used to, and with more money to spend, there’s an increased demand for certain goods (like cars and meat). That all adds up to more expensive products.
  • Retailers have been holding off on raising prices to keep customers during the recession, but they say they can’t hold out anymore.
  • Will rising prices lead to inflation? Stay tuned.

Facts & Figures

  • Unemployment in the U.S. is still at 9%, and wages have risen less than 2% in the past year
  • Some brands planning to raise prices include: Nine West, Anne Klein, Victoria’s Secret, Polo Ralph Lauren, Whirlpool, Kraft, Starbucks, Sara Lee, Brooks Brothers, and Hanes
  • Inflation has been low – about 1.4%, but economists expect the rate to rise to 2.5% 2011

Best Quotes

“Consumers are not exactly in the frame of mind or economic circumstances to say ‘Oh, pay whatever they ask.’ There’s going to be pushback.” – Joshua Shapiro, Chief U.S. Economist at MFR Inc.

“These companies are constantly walking a tightrope on how far do I go. Do I offset with price or other cost cuts, or do I just take it and have it eat into my profit margins?” – Jack Russo, Consumer Goods Analyst at Edward Jones

What do you think?

Do you know what goes into the price of the products you buy? Did you ever imagine that the price of popcorn at the movie theater could be connected to weather in the Midwest and a commodites trading floor in Chicago?

Americans Open Wallets Wider Than They Have In Three Years

Wednesday, February 2nd, 2011

The financial times they are a’changing. At least, that’s what these new statistics would have us believe…

  • In 2009, the American GDP (gross domestic product – a measurement of economic activity) dropped more than it had in sixty years. But like a phoenix made up of economic statistics, it rose back up in 2010.
  • We can’t know the exact cause, but the numbers say that people earned a little more, saved a little less, and spent a little more than they had in recent years.
  • Since consumer spending makes up almost three-quarters of all economic activity in the U.S., this is good news. But there are still those issues around high unemployment and a trashed housing market…

Facts & Figures

  • Consumer spending represents 70% of all economic activity in the U.S.
  • In 2010, spending rose by 3.5% – 0.7% of that was in December alone
  • The last time spending rose that high was in 2007 (pre-recession)

What do you think?

Have you been spending more lately? Do you think the economy will recover faster depending on where you spend your money (at independent stores versus chains)?

(Check out this week’s Today at TILE for a closer look at signs of life in the economy.)

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