Population Statistic: Read. React. Repeat.
Saturday, October 07, 2021

Are you receiving Amazon shipments for orders that you don’t remember placing? Then it’s time to put down the wineglass and/or shut down the computer, as “sip and click” online shopping is catching on with drunk shopaholics everywhere.

Add a glass of good cheer and it’s easy to lose your material inhibitions, says Kate Hanley, creator of MsMindBody.com. Last fall she was captivated by a pair of Cole Haan boots on eBay, but had to abandon the auction to attend a party. After a glass of Champagne at the party, Ms. Hanley said that she noticed her host’s computer nearby. “I logged back onto the auction and bought the boots,” she said. “It took all of two minutes.”

I haven’t 1-clicked while intoxicated (yet), but I’ve witnessed it. In fact, I mentioned it on this blog months ago: A girl I was partying with who absolutely had to win an eBay auction for a blue-and-purple Victoria’s Secret bra. She was slightly toasted as she kept refreshing the page. She got her bra, though; and I got some amusement from the sight of it.

I think electronic retailers should encourage this behavior, actually. Promote Sip-and-Click Parties, complete with booze and wi-fied notebook computers! A festive atmosphere that would add up to major cha-ching.

by Costa Tsiokos, Sat 10/07/2021 08:40:49 PM
Category: Internet, Society
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Sevin Rosen Funds has taken some of the adventure out of venture capital. The highly-regarded firm, citing a less-than-promising investment landscape, took the unprecedented step of returning the millions of dollars already committed to their now-aborted VC fund.

Explaining its decision, Sevin Rosen, which has offices in Dallas and Silicon Valley, said that too much money had flooded the venture business and too many companies were being given financing in every conceivable sector.

But excess of capital is only part of the problem, the firm said. In its letter, it bemoaned what it described as “a terribly weak exit environment,” a reference to the dearth of initial public offerings and to a market for acquisitions at valuations that it considers too low to deliver the kind of returns that venture investors expect.

Valuations too low? With Google about to drop $1.6 billion for YouTube, like setting off a splurge of megamoney deals in the Internet/tech sector? According to Sevin Rosen, those prominent blockbusters aren’t enough to keep the entire landscape viable.

They’d better be right. I have a feeling the firm’s going to wind up with egg on its face over this move.

by Costa Tsiokos, Sat 10/07/2021 08:14:11 PM
Category: Business
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Think oil prices are still too high? Paolo Scaroni, the CEO of Italian energy giant Eni S.p.A doesn’t, and he uses a unique comparative to illustrate his point:

First of all prices are not very high. Sixty dollars a barrel is not very high. If they were high, the American consumer in particular would behave differently. As long as each American consumer burns 26 barrels of oil per year against 12 for Europeans, this means that the prices are not high. High means that people start to say that I can use my energy better. Today, a barrel of oil is worth half a barrel of Coca-Cola. So you should put things into perspective. It has been clear to everybody that the Western world can live with oil above $30, $40, $50, $60, $70 a barrel and economies expand, inflation is low, and consumers continue to drive S.U.V.’s and air-conditioners are so high in American restaurants that you have to put on a coat otherwise you get sick.

It’s not often that you get such frankness out of an oil baron, so Scaroni’s Coca-Cola comments have the biz world buzzing. I’m wondering what Eni’s shareholders are thinking.

Anyway, it looks like Detroit and Tokyo have their cue. Forthwith, start developing cars that run on that sweet-and-pricey sugarwater!

by Costa Tsiokos, Sat 10/07/2021 07:33:32 PM
Category: Business
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