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Collaborative Consumption

Tuesday, July 26th, 2011

collaborative-home.png
(image credit: Collaborative Consumption)

But isn’t that like, communism, man?

Not exactly – people still own things and are making a profit from them, and that’s sort of the point.

Technology (i.e. the internet) is allowing regular people like you and me to share their skills, stuff or space with the world – for profit. New websites and services like TaskRabbit, SkillShare and Airbnb (and even old stuff like eBay and Craigslist) allow people to take advantage of stuff they own or stuff they can do by lowering barriers-to-entry.

But, wait, if, like, everyone can easily buy and sell stuff, isn’t that at least, like, socialism, man?

Not exactly.

The Great British Pound (GBP) is…

Friday, June 3rd, 2011

The Great British pound (£) is the official currency of the Great Britain. The currency’s official name is “the pound sterling,” but everyone calls it the pound.

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?

Does traveling (or living) well have to mean spending a lot of money?

Thursday, May 12th, 2011

splashing-in-the-sea.jpeg
(credit: notsogoodphotography)

We read the Frugal Traveler section of the New York Times from time to time, though frugality is not something all our members are familiar with. But today’s article about spending a weekend in Rio de Janeiro for less than $100 sounded like a lot of fun. The kind of fun you might miss if you spent $2,000 instead.

In this case, the writer has an amazing experience for less than a Benjamin because he’s open to new (and potentially uncomfortable) experiences. So why not make it a point to travel the road less recently paved now and then?

Think about what you really want. Is spending the only way to get it? Is brand-name really worth more to you than generic? Can you see as much of a new city from a high-rise as you can from the street?

Now take a look at your Spend page – what do you spend most of your money on? Is that what makes you happy?

Hard Work Pays Off (In Designer Suits and Local Luxury)

Tuesday, April 12th, 2011

Gilt City is one of Gilt Groupe’s overachieving children. But instead of offering its members haute couture at a discount, G.C. serves up local luxury experiences (a gourmet meal here, a spa there) at special prices.

Team TILE visited their New York office recently, and Gilt City president Nathan Richardson was kind enough to sit down and chat with us for a few minutes.

Nathan has had a wild career, and it seems like his only regret is not learning Mandarin in high school. Impressive. He has some advice for you, so check it out:

Why are gas prices so wildly different around the world?

Tuesday, March 22nd, 2011


(photo credit: Drew__)

If you’ve been in Europe recently, you’ve probably noticed all those extra digits in the price of “petrol.” In the U.S., we’re horrified at the idea of paying $4 a gallon for gas, but in Norway they’ve already blown past the equivalent of $9.

But… why? Is it harder to pump oil in to Norwegian gas stations? Is greater demand among the Norse driving prices up? Not even.

There are a few reasons, but according to Aaron Smith at CNN, it’s pretty much all about the government. Governments can either charge their citizens extra to buy gas (by taxing it) or the pay them to buy gas (by handing out subsidies, which lower the price per gallon).

Taxing gas is useful because the money pays for government programs. And handing out subsidies is useful if you want to keep your population happy. (You see this a lot in oil-producing nations like Saudi Arabia. It’s hard to be angry at the super-wealthy ruling elite when they’re basically paying for your gasoline.)

The moral of the story: Stuff is only worth what someone says it’s worth. $3 or $10, you still need it to make your Hummer go.

How much do you think you should pay to fill up your gas tank?

Airlines Busy Inventing New Perks for Spendy Travelers

Sunday, March 13th, 2011


(photo credit: Richard Moross)

Don’t worry; you don’t have to pay to use the lavatory. Yet.

  • It seems like the airline industry has been struggling financially forever. But it’s never been as obvious as it is today, when most carriers are charging $30 for an extra carry-on bag and eliminating complimentary meals.
  • The main source of these fees is the steady increase in fuel prices airlines have seen in recent years. But with every new charge comes with a new disgruntled customer.
  • Now, instead of taking away amenities that used to be included in the price of a ticket, airlines are coming up with new services to sell to travelers. More of an “added value” approach than a cost-cutting spree.
  • Flyers willing to shell out can board the plane early, get a seat with extra legroom, or splurge on a champagne brunch – yes, even in coach.

Facts & Figures

  • Airlines increased their prices six times in the first two months of 2011
  • Fees for things like extra carry-on bags and snacks accounted for 5% of all industry revenue in 2010 – that’s $22 billion

>> What do you think?

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?

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