Quotulatiousness

May 13, 2014

Coravin – a new technique for sampling wine in the bottle

Filed under: Business, Wine — Tags: — Nicholas @ 06:59

Brendan linked to this article about an innovative wine sampling device:

Five years later and news of another device with even more exciting ramifications for the wine trade began to ripple across from the US. Nuclear engineer and, crucially, wine lover Greg Lambrecht turned his mind to exploring whether it might be possible to sample the contents of a cellar without having to pull the cork.

Fourteen years and 23 prototypes later, Coravin was born. The portable apparatus allows a needle to be inserted through the foil capsule and cork; it then extracts the wine, fills in the gap with inert argon and withdraws, leaving the flexible cork to reseal itself.

Having initially launched in the US, Coravin is now available to be shipped to 22 countries and made its first UK appearance last October, priced at £300.

Although vice-president for marketing Howard Leyda says “the primary target market for Coravin is wine enthusiasts first for personal use”, it is the UK restaurant scene that has been generating the biggest buzz around what many believe is a real game changer.

[…]

Until Coravin becomes more easily available, a number of restaurants that have managed to get their hands on one can be seen drumming up excitement among their clientele by promoting this gadget’s most obvious application: the chance to taste some serious old wines.

At one early adopter, D&D London restaurant Avenue, the French- and American-focused wine list now reaches its apogee in the form of vertical flights of Mouton Rothschild and the first growth’s Californian sister venture Opus One.

Other options include Cheval Blanc 1999 at £91 for a 125ml glass or, for those looking to treat themselves on a tighter budget, a 75ml sample of Clerc Milon 2004 for £13.

“It’s really interesting for us to be able to offer these wine flights,” enthuses Avenue restaurant manager Robert Kihlstrom.

May 12, 2014

Amazon gets a patent for a decades-old photographic technique

Filed under: Bureaucracy, Business, Government, Technology — Tags: , , — Nicholas @ 06:42

Stephen Shankland provides another exhibit in the patent-system-is-broken case:

Amazon - Studio Arrangement patent

Photographers are hooting derisively at a patent Amazon won in 2014 for a photography lighting technique that’s been in use for decades, a patent that’s helped undermine the credibility of the patent system.

Amazon’s patent 8,676,045, granted in March and titled “Studio Arrangement,” describes a particular configuration of the photography subject in the foreground and a brightly lit white screen behind, an approach that “blows out” the background to cleanly isolate the subject.

It’s a fine idea, but not a novel invention, argued David Hobby, a professional photographer since 1988 who runs the Strobist site that for years has been a popular source of advice on flash photography. He used the approach himself as a staff photographer on his first job decades ago for a business publication.

May 11, 2014

Market disruption and innovation

Filed under: Bureaucracy, Business, Government — Tags: , , , , — Nicholas @ 10:19

Innovation often leads to challenges to established markets. Existing players in those established markets have three choices when faced with a disruptive new competitor or technological change: they can innovate themselves, they can retrench and avoid direct competition, or they can do what most incumbents do — get the government regulators to fight their battles for them.

Market incumbents do not like disruption. Uber, the ride-sharing service that has loosened the stranglehold of the taxi cartels, has been the object of government attacks and vigilante attacks both. Various regulatory agencies have tried with varying degrees of success to shut it down, London’s taxi drivers are even as we speak promising “chaos” in response to the firm’s success, French vigilantes have attacked its drivers, and in Seattle — blessed Seattle! — self-styled anarchists are targeting its cars and drivers. “Anarchists” for state-enforced cartel economics to increase private profit — somebody is unclear on the concept, it seems.

A great deal of the program of the old Left — from its full-on Marxist wing to its Proudhonian anarchist wing — is in the process of being accomplished by 21st-century capitalism. The means of production have been radically democratized, with multi-billion-dollar firms springing up out of garages and dorm rooms. The privileged position of dominant old-line financiers is being undermined rapidly by innovations such as Kickstarter, which blurs the line between the altruistic and the consumerist. The life expectancy of large corporations has collapsed, from about 75 years in the 1960s to 15 years and declining today. When Pierre-Joseph Proudhon called for “a war of labor against capital; a war of liberty against authority; a war of the producer against the non-producer; a war of equality against privilege,” he certainly did not have in mind Uber or Outbox; his most famous motto was, after all, “Property is theft.” (I think there is rather more to his idea of property than that simplistic formulation communicates, but this is not the place for that particular essay.) But the characteristics of those firms — relatively modest capital requirements, subverting various kinds of political authority in the form of licensure and regulation enacted in the interests of market incumbents, empowering efficient producers to compete with rent-seeking non-producers, and, above all, undermining the privileged place of state-sanctioned monopolies and cartels — looks a lot more like what the 19th-century revolutionaries had in mind than the USPS does. If what you mean by “capitalism” is the East India Company, then capitalism is not very attractive; if what you mean by “capitalism” is Kickstarter, then it is.

Not that a man transported from the 19th century to our own time would recognize that. If we could transport M. Proudhon or any of his contemporaries to the here and now, their eyes would not register any economic system with which they were familiar at the sight of the daily wonders we take for granted. They wouldn’t see capitalism; they’d see magic. But the DMV, the USPS, the housing project, and the prison would all be familiar to their 19th-century eyes. Our choice is not really between neat ideological verities with their roots in Adam Smith or Karl Marx, but between the DMV and the Apple store. Each model has its downsides, to be sure, but it does not seem like a terribly difficult choice to me.

May 10, 2014

Former head of the LCBO at the Ontario Wine Awards

Filed under: Business, Cancon, Humour, Wine — Tags: , — Nicholas @ 13:17

Michael Pinkus attended last night’s award ceremony and found the star of the proceedings was the master of ceremonies, former LCBO head Andy Brandt:

The 20th Annual Ontario Wine Awards were held Friday night at the Queen’s Landing Inn in Niagara-on-the-Lake hosted by former head of the LCBO Andy Brandt; who had to be one of the unintentionally funny MC I’ve ever experienced. Between the butchering of words (Pinot “Griss”, Cabernet “Frank”, “Sara” for Syrah, “Ca-lom-us” for Calamus and “Toss-e” for Tawse) and the total omission of names he did not want to pronounce like Musque and Viognier during the presentation — he seemed uncomfortable giving out the awards, but was good at puns and for a few stories. All-in-all Brandt was a train-wreck, but at least you knew the room was listening for his next faux-pas and he was the talk of the room over beers and desserts at the after-party (the most talked about host I can remember). One person commented to me, “He’s my favourite MC at [The Ontario Wine Awards] ever, I just never knew what was going to come out of his mouth from one moment to the next. Obviously pronunciation has gone out the window tonight, it’s a free-for-all.” Others could not believe that the once head of the LCBO could not pronounce grape varieties correctly.

What did King Solomon and David Lee Roth have in common?

Filed under: Business, Economics, History, Media — Tags: , , — Nicholas @ 12:59

Actually, more than a few things, as the Freakonomics team of Dubner and Levitt explain:

King Solomon built the First Temple in Jerusalem and was known throughout the land for his wisdom.

David Lee Roth fronted the rock band Van Halen and was known throughout the land for his prima-donna excess.

What could these two men possibly have had in common? Well, both were Jewish; both got a lot of girls; and both wrote the lyrics to a No. 1 pop song (“Jump” in Mr. Roth’s case and, in Solomon’s, several verses from Ecclesiastes that appeared in the Byrds’ 1965 hit “Turn! Turn! Turn”). But most improbably, they both dabbled in game theory, as seen in classic stories about their clever strategic thinking.

[…]

And so it was that David Lee Roth and King Solomon both engaged in a fruitful bit of game theory — which, narrowly defined, is the art of beating your opponent by anticipating his next move.

Both men faced a similar problem: How to sift the guilty from the innocent when no one is stepping forward to profess their guilt? A person who is lying or cheating will often respond to an incentive differently than an honest person. Wouldn’t it be nice if this fact could be exploited to ferret out the bad guys?

We believe it can — by tricking the guilty parties into unwittingly revealing their guilt through their own behavior. What should this trick be called? In honor of King Solomon, we’ll name it as if it is a lost proverb: Teach Your Garden to Weed Itself.

May 8, 2014

Reason‘s Video Game Nation page

Filed under: Business, Gaming, Liberty, Media — Tags: , , , — Nicholas @ 09:02

Reason's Video Game Nation page

May 7, 2014

“I’ve been an oncologist for 20 years, and I have never, ever seen anything like this.”

Filed under: Business, Health, Science — Tags: , , , — Nicholas @ 15:30

In Forbes, Matthew Herper looks at how Novartis is transforming itself in an attempt to conquer cancer:

“I’ve been an oncologist for 20 years,” says Grupp, “and I have never, ever seen anything like this.” Emily has become the poster child for a radical new treatment that Novartis, the third-biggest drug company on the Forbes Global 2000, is making one of the top priorities in its $9.9 billion research and development budget.

“I’ve told the team that resources are not an issue. Speed is the issue,” says Novartis Chief Executive Joseph Jimenez, 54. “I want to hear what it takes to run this phase III trial and to get this to market. You’re talking about patients who are about to die. The pain of having to turn patients away is such that we are going as fast as we can and not letting resources get in the way.”

A successful trial would prove a milestone in the fight against the demon that has plagued living things since dinosaurs roamed the Earth. Coupled with the exploding capabilities of DNA-sequencing machines that can unlock the genetic code, recent drugs have delivered stunning results in lung cancer, melanoma and other deadly tumors, sometimes making them disappear entirely – albeit temporarily. Just last year the Food & Drug Administration approved nine targeted cancer drugs. It’s big business, too. According to data provider IMS Health, spending on oncology drugs was $91 billion last year, triple what it was in 2003.

But the developments at Penn point, tantalizingly, to something more, something that would rank among the great milestones in the history of mankind: a true cure. Of 25 children and 5 adults with Emily’s disease, ALL, 27 had a complete remission, in which cancer becomes undetectable. “It’s a stunning breakthrough,” says Sally Church, of drug development advisor Icarus Consultants. Says Crystal Mackall, who is developing similar treatments at the National Cancer Institute: “It really is a revolution. This is going to open the door for all sorts of cell-based and gene therapy for all kinds of disease because it’s going to demonstrate that it’s economically viable.”

H/T to Megan McArdle for the link.

May 6, 2014

Rick Wakeman on the best financial advice he ever received

Filed under: Britain, Business, Media — Tags: , , — Nicholas @ 09:17

Lorraine McBride talks to Rick Wakeman about his career.

Has there ever been a time when you worried how you were going to pay the bills?

Yes, there have always been times like that. In the late Sixties, when I played at the Top Rank ballroom, being an organist meant carting my organ around to sessions, which cost two thirds of my earnings, on top of running a car, which was when I learnt the word “expenses”.

My rent cost £8 a week and I can remember being really short. In 1970, I was up in London looking for session work and Marc Bolan who was a great mate, gave me a session for Get It On. All I had to do was a glissando on the piano. I said to him afterwards, “You could have done that,” and he replied, “Well, you want your rent money don’t you?” Tough times, but when I joined Yes, I went from £18 a week to £50 a week.

Yes made a fortune, what did you spend it on?

We were all told to go out and buy a nice house, which was an eye-opener because I’d only known a two-up, two-down and a Ford Anglia. Suddenly we were talking five-bed, des-res. I remember looking around one house for sale in Gerrards Cross and the lady said, “This is the breakfast room.” I said: “What, just for breakfast?” because it was just a different world.

Lots of rock stars get ripped off, did you learn any tough lessons?

Yes, everybody in the business did. One thing you start to learn, usually too late, is that being top of the tree doesn’t last forever. You drop down a few branches and find your position but you set yourself a lifestyle that requires “top of the tree” earnings to pay for it. Then of course, you have the unexpected events like a divorce of which I’ve had three.

Suddenly you grow up very quickly and certainly when a problem hits, you back-pedal to try and work out how to sort it out. I was lucky. I had a very good accountant who helped tremendously and I learnt to listen but it took a long time. It probably wasn’t until the turn of the millennium when I found myself in yet another divorce, when the situation seems unbelievable, you really start to listen.

[…]

What’s been your best financial move?

Undoubtedly listening to David Bowie who said: “Be your own man and don’t listen to people who don’t know a hatchet from a crotchet and try to fulfil their own ideas through you because they haven’t got any.” I wanted to do Journey to the Centre of the Earth with an orchestra but there wasn’t enough money from the record company. I ended up mortgaging my house, selling everything I owned. I begged, borrowed and stole to do it. But the record company didn’t want it and I faced losing everything because I was so heavily in debt.

Eventually my record company in America loved it, insisted it was released and it sold 15 million copies and that really taught me to be my own man. Spending money I didn’t have was simply my best financial decision because if I hadn’t done it, 40 years on, I wouldn’t be doing my shows now.

May 4, 2014

How to start a wine cellar (not applicable in Ontario)

Filed under: Business, Cancon, Wine — Tags: , , — Nicholas @ 10:21

In rational jurisdictions — where you don’t have a government-mandated monopoly supplier — following the advice of Will Lyons makes a lot of sense. For obvious reasons, wine fans in Ontario can only stare in envy at the concept of competitive pricing for wine and not being limited to what the government chooses to bring in for sale:

IF YOU ENJOY WINE, are starting to take more than a passing interest and have perhaps bought the odd reference book about vino varieties, it might be time to think about beginning your very own wine cellar.

The worst habit you can get into is to stop off at your local wine shop once a week and pick up the odd few bottles. A much better approach is to buy by the dozen or a six pack, as most wine merchants will offer a discount on a mixed case. Better still is to select two or three wine merchants, order their catalogs or look online and, when you’re in the mood, spend some time selecting your favorite wines and comparing prices. I like to do this on the weekend, with a cup of tea and all the catalogs spread out over the kitchen table.

But a cellar isn’t just a few cases of your favorite wine. It may sound like a cliché but a good cellar requires a bit of forethought and planning to provide pleasurable drinking over the long term. I like to break wine collecting into three categories: wines for immediate drinking, wines to lay down that will improve with age, and investment wines — those special bottles whose value will steadily increase year on year.

I started my own cellar soon after I left university and began working in the wine trade. I well remember buying a case of northern Rhône Syrah to lay down — I still have four bottles — and six bottles of a well-known New Zealand Sauvignon Blanc producer. I now buy most of my wine twice a year: during the bin end sales at the beginning of the year, when merchants are unloading old stock at discounted prices, and when a wine is offered En Primeur (wine futures). This is where the wine is put up for sale from the barrel, months before it is bottled and shipped. The advantages are that you can guarantee an allocation of your chosen wine, you can choose the size of the bottle it is shipped in and also secure it at a discounted price. However, the latter isn’t always guaranteed — Bordeaux 2010 being a case in point. Many of the wines are cheaper now than when they were when released En Primeur.

May 3, 2014

I am not a number!

Filed under: Business, Cancon, Humour — Tags: , — Nicholas @ 07:58

We had a call from Rogers (our ISP/cable provider) last night to discuss our current internet plan (we’ve been bumping up against our data cap lately, even though we increased it from 60GB to 80GB only a few months ago). I pointed out that my son’s internet bill while he was away at university came to about the same as our bill with Rogers, but that his data cap was 250GB. I asked if Rogers could come close to offering me that in Brooklin, since Cogeco is clearly able to turn a profit while offering folks in Peterborough a much higher data cap.

Rogers couldn’t quite match the offer, but for a slightly higher monthly bill we’ll now have a 270GB cap and higher (nominal) upload/download speeds. After this, I got an email that showed I’m not just a number to Rogers … I’m {$/process_data/xmlData/CRCFormatRequest/CustomerInfo/FullName$} instead:

Rogers internet service quote glitch

QotD: The educational machinery that produces the modern twenty-something

Filed under: Bureaucracy, Business, Education, Quotations — Tags: , — Nicholas @ 00:01

When conservatives complain that children are not being taught anything in public schools, they’re half right: They’re not being taught anything useful. They’re taught how to conform. That’s really the point of so many of the stupid rules in modern schooling, people learn to obey the irrational.

This translates into the corporate world in two ways. Those leaving the educational system are outwardly rebellious and undisciplined, even slovenly. Inwardly they’re perfect conformists. They haven’t the slightest notion of principles or integrity, it’s been beaten out of them by the public schools. They are desperate to fit in and conform in a way that is common among teenagers, but used to fade away as people entered their twenties and thirties. As a cranky old executive once observed to me, the young people aren’t so much soft as weak. Passionate about trivia and indifferent toward the fundamentals of life and work.

Richard Anderson, “In Praise of Grumpy Men”, The Gods of the Copybook Headings, 2014-05-01

May 2, 2014

Calling BS on the Beer Store ad campaign

Filed under: Business, Cancon — Tags: , , , , — Nicholas @ 08:09

Michael Pinkus takes a short pause from his usual wine reviews (and decrying the LCBO for their stone-age approach to selling wine) to throw some scorn at the foreign-owned multinational oligopoly that runs our beer retail business in Ontario:

Not sure which [of the two TV ads] I object to more, the lies of the first or the total misrepresentation of variety store owners in the second. The biggest lie to me in #1 is the implication of impeccable customer service: the visual of a beer store employee (Glenn Howard) showing a customer to her beer selection (can woman not find the beer they are bringing home to their man on their own? Is that another implication here?) or is he giving a recommendation of what beer to serve? Either way it’s a complete falsehood: I have been to plenty of Beer Stores in my day and NO ONE HAS EVER ‘showed me’ to the beer I was looking for, in fact, Beer Store employees are some of the surliest bunch in the customer service world, second only to LCBO and Home Depot staff for the most un-helpful in retail.

Ad #2 makes variety store owners look complacent in the act of minors buying alcohol in their stores, the only thing the Beer Store did not do was put an ethnic minority behind the counter (that should be your first clue that the Beer Store is out of touch with corner stores) … But seriously what a load of absolute garbage that ad is. I was thinking that a good acronym for the Beer Store is “The B.S.” which is exactly what they are peddling to the public with their ads and “beer facts” campaign … hopefully you see right through it: all they are trying to do is protect their bottom line through the guise of social responsibility. Heck the LCBO has been using that excuse for years and look at the monopoly they’ve built.

When it comes to the illegal sale of booze to minors, no one is protected more than the liquor store employees of this province. First, both LCBO and Beer Store employees are protected by unions, so if they were to sell to minors that employee would continue to keep their job. A sting by reporter David Menzies for SunMedia proved that not only can minors get alcohol at the LCBO but nothing befell the employees who sold to that minor.

On the other hand, a variety / corner store would face harsh penalties, stiff fines and I am sure the loss of their license to sell booze and quite possibly lose their store, their livelihood, everything they’ve worked for – not to mention the civil lawsuit that might be a consequence of their actions. Most variety store owners are hardworking, law abiding people who work long hours in their own stores, and usually rely on their family members to help out. They aren’t about to give up their way to make a living to sell a couple extra bottles of Blue to 15-year-old Joey Ripkin. Now, I’m not saying there aren’t any rotten eggs in the basket, but you’ve had LCBO workers sell booze out the back door of stores and warehouses and clerks sell to friends – there’s always someone who takes advantage of the system, but to paint them all with this absurd brush is clearly ridiculous. The BS the Beer Store is pushing is practically see-through.

The loss of one’s business and livelihood is a bigger price to pay than the slap on the wrist a Beer / LCBO store employee would see.

May 1, 2014

Rethinking Canadian broadcast regulation

Filed under: Bureaucracy, Business, Cancon, Media — Tags: , , , , , — Nicholas @ 07:27

On Google+, Michael Geist posted a few thoughts on hitting the reset button in Canadian broadcast regulation:

The Broadcasting Act is a complex statute that lists more than twenty broadcasting policy goals. Yet for decades, Canadian policy has largely boiled down to a single objective: Maximizing the benefits from the broadcasting system for creators, broadcasters, and broadcast distributors such as cable and satellite companies.

Consumers were nowhere to be found in that objective and it showed. Creators benefited from Canadian content requirements and financial contributions that guaranteed the creation of Canadian broadcast content. Broadcasters flourished in a market that permitted simultaneous substitution (thereby enabling big profits from licensing U.S. content) and that kept U.S. giants such as HBO, ESPN, and MTV out of the market for years in favour of Canadian alternatives. Cable and satellite companies became dominant media companies by requiring consumers to purchase large packages filled with channels they did not want in order to access the few they did.

As I mentioned in a conversation last night, the Canadian market for broadcast, telecommunications, and internet providers has been carefully managed by the government to minimize the whole messy “competition” thing and ensure quasi-monopoly conditions in various regions across the country. The regulators prefer a small number of players in the market: it makes it easier to do the “regulation” thing when you can fit all the regulated players around a small table, and it also provides post-civil service career opportunities for former regulators. Having a larger number of competing organizations makes the regulation game much more difficult and reduces the revolving door opportunities for former regulators.

April 29, 2014

QotD: The music business, from 1959 to now

Filed under: Business, Media — Tags: , , — Nicholas @ 00:01

The music business has flipped 180 degrees in his lifetime, and he led the charge a bit. It used to be that the bandstand was filled with disreputable drunks and drug addicts, womanizers, and plain bums, and the audience was filled with staid drones, dressed for Easter, who instructed their teenage daughters to stay away from musicians and marry a nice accountant, maybe. Nowadays it’s more likely for the audiences to be filled with disreputable cave people, higher than a kite and all dressed like a roadie for Metallica, while the stage is filled with the hardworking, sober people. And the only work for an accountant these days is counting a musician’s money. No one in the audience knows where their next meal is coming from.

Lots of cool cats in attendance in the video. Music used to be more intimate like that. The world would be a better place if you could get dressed up like you’re going to be buried, take the chariot down to a supper club, slide into the banquette, and listen to jazz made fresh daily over the sound of your glasses clinking. It sure beat today’s version of a concert: getting groped by amateur TSA diddlers, then standing three hundred yards from a stage, looking at the TFT side of ten thousand crummy phones pointed at the replacements for the bandmembers that died in bizarre gardening accidents.

Sippican Cottage, “The State Of The Art In 1959: The Ahmad Jamal Trio”, Sippican Cottage, 2014-04-28

April 28, 2014

Megan McArdle on The Up Side of Down

Filed under: Books, Business, Economics, Media, USA — Tags: , , — Nicholas @ 00:01

I posted a shorter interview yesterday, and this is a longer presentation Megan McArdle did back in February at Politics & Prose Bookstore in Washington, D.C.:

Published on 15 Feb 2014

Failure, however devastating, is not the end. In fact, as McArdle, a journalist and blogger who has charted the fall and rise of a variety of ventures shows, failure can be just the teacher you need to push you forward to greater success. For those of you who missed her talk at Sixth and, maybe failing to come is the insight you need.

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