Right at this same time, I’m signing and hugging after a gig, and a guy comes up to me and hands me a $10 bill, and he says, ”I’m sorry, I burned your CD from a friend.” ”But I read your blog, I know you hate your label. I just want you to have this money.”
And this starts happening all the time. I become the hat after my own gigs, but I have to physically stand there and take the help from people, and unlike the guy in the opening band, I’ve actually had a lot of practice standing there. Thank you.
And this is the moment I decide I’m just going to give away my music for free online whenever possible, so it’s like Metallica over here, Napster, bad; Amanda Palmer over here, and I’m going to encourage torrenting, downloading, sharing, but I’m going to ask for help, because I saw it work on the street. So I fought my way off my label and for my next project with my new band, the Grand Theft Orchestra, I turned to crowdfunding, and I fell into those thousands of connections that I’d made, and I asked my crowd to catch me. And the goal was 100,000 dollars. My fans backed me at nearly 1.2 million, which was the biggest music crowdfunding project to date.
And here‘s a rundown on other performers who’ve explored the pay-as-you-wish strategy.
This is a transcript of the Freakonomics Radio podcast “Parking Is Hell.” [MUSIC: Artist Name; “Song Title” (from Album Title)] [MUSIC: The Diplomats of Solid Sound; “Don’t Touch My Popcorn” (from Let’s Cool One)] Donald SHOUP: I think, you know, 50 years from now, when people look back on New York, and of course other cities, that they’ll […] Read More »
In the Washington Post, Peter Whoriskey writes about the rising incidence of fraud in research labs:
It may be impossible for anyone from outside to know the extent of the problems in the Nature paper. But the incident comes amid a phenomenon that some call a “retraction epidemic.”
Last year, research published in the Proceedings of the National Academy of Sciences found that the percentage of scientific articles retracted because of fraud had increased tenfold since 1975.
The same analysis reviewed more than 2,000 retracted biomedical papers and found that 67 percent of the retractions were attributable to misconduct, mainly fraud or suspected fraud.
One of the less-obvious downsides of academic fraud:
The trouble is that a delayed response — or none at all — leaves other scientists to build upon shaky work. [Ferric] Fang said he has talked to researchers who have lost months by relying on results that proved impossible to reproduce.
Moreover, as [Adam] Marcus and [Ivan] Oransky have noted, much of the research is funded by taxpayers. Yet when retractions are done, they are done quietly and “live in obscurity,” meaning taxpayers are unlikely to find out that their money may have been wasted.
A paper by Georgios Zervas, John Byers, and Michael Mitzenmacher explores the relationship between a Groupon surge (like when a small bakery has to make 100,000 cupcakes) and a drop in Yelp ratings. Tim Worstall at Forbes explains:
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Imagine that you are an enthusiastic and regular consumer of the finest chimichangas that you can find. You’ll likely have scoped out your neighbourhood, tested the chimichangas on offer and zeroed in on those places that make excellent ones. You might even provide reviews on Yelp pointing other enthusiasts for the comestible so as to guide them to the good places.
Bloomberg Businessweek explores how firms are adapting to a future climate:
Investing in climate change used to mean putting money into efforts to stop global warming. Morgan Stanley, Goldman Sachs, and other firms took stakes in wind farms and tidal-energy projects, and set up carbon-trading desks. The appeal of cleantech has dimmed as efforts to curb greenhouse gas emissions have faltered: Venture capital and private equity investments fell 34 percent last year, to $5.8 billion, according to Bloomberg New Energy Finance.
Now some investors are taking another approach. Working under the assumption that climate change is inevitable, they’re investing in businesses that will profit as the planet gets hotter. (The World Bank says the earth could warm by 4C by the end of the century.) Their strategies include buying water treatment companies, brokering deals for Australian farmland, and backing a startup that has engineered a mosquito to fight dengue, a disease that’s spreading as the mercury climbs.
Piet Dircke of the Dutch engineering and flood-prevention firm Arcadis says he was besieged with calls after Hurricane Sandy: “The climate is changing. Sea level is rising. That’s quite obvious. At the same time, the cities that are close to the waterline continue to grow and have more money and need for protection. It’s almost a natural growth market.”
A Washington Post profile of Liberty University, founded in 1971 by Jerry Falwell, says that Liberty has doubled its enrollment in the last six years:
The surging enrollment for a bastion of Christian conservatism in the central Virginia foothills highlights the school as a market leader at the crossroads of religion and higher education. Liberty figured out how to recruit masses of students via the Internet years before elite universities began ballyhooed experiments with free online courses.
Turbocharged growth inevitably raises questions about quality, and Liberty’s academic reputation has not risen as fast as its enrollment. About 47 percent of its first-time, full-time students graduate within six years, federal data show, below the national average of 58 percent. Liberty officials say such statistics reflect an admissions policy geared more toward opportunity than exclusivity.
And Liberty is doing well on the finance front too: “The university ended 2012 with more than $1 billion in net assets for the first time, counting cash, property, investments and other holdings. That is 10 times what the school had in 2006.”
(HT: Marginal Revolution)