U.S. credit card debt

“Average individual credit card debt (in the U. S.) stands at $5,331 in 2019. Additionally, on a monthly basis, most Americans don’t pay their credit card balance in full every month – 55% don’t regularly pay in full.”

  • 83% of U.S. adults own at least one piece of plastic.
  • On average, U.S. consumers own three credit cards.
  • Total revolving debt stands at $1.04 trillion – that’s up from $857 billion in 2013.
  • The average interest Americans pay on their cards stands at 16.46%.

Source: TheStreet.com

More apps caught sending personal info to Facebook

Sam Schechner, reporting for The Wall Street Journal (Subscription required. Here’s John Gruber’s post):

“In the Journal’s testing, Instant Heart Rate: HR Monitor, the most popular heart-rate app on Apple’s iOS, made by California-based Azumio Inc., sent a user’s heart rate to Facebook immediately after it was recorded.

Flo Health Inc.’s Flo Period & Ovulation Tracker, which claims 25 million active users, told Facebook when a user was having her period or informed the app of an intention to get pregnant, the tests showed.

Real-estate app Realtor.com, owned by Move Inc., a subsidiary of Wall Street Journal parent News Corp , sent the social network the location and price of listings that a user viewed, noting which ones were marked as favorites, the tests showed.

None of those apps provided users any apparent way to stop that information from being sent to Facebook.”

So I’m thinking about apps that I use: TextGrabber, Scanner Pro et al. Are they sending my shit to Facebook (even though I don’t have an account?). Apple needs to stop this shit or at the ver least tell us which apps are doing this so we can delete them.

Team Human

Excerpts from Team Human by Douglas Rushkoff.

There’s a reason for our current predicament: an anti-human agenda embedded in our technology, our markets, and our major cultural institutions, from education and religion to civics and media.

Thinking, feeling, connected people undermine the institutions that would control them. […] Our institutions and technologies aren’t designed to extend our human nature, but to mitigate and repress it.

It doesn’t take much to tilt a healthy social landscape toward an individualist or repressive one. A scarcity of resources, a hostile neighboring tribe, a warlord looking for power, and elite seeking to maintain its authority, or a corporation pursuing a monopoly all foster antisocial environments and behaviors. Continue reading

One in 11 Americans pays an average of $91.14 per month to use self-storage

“According to SpareFoot, a company that tracks the self-storage industry, the United States boasts more than 50,000 facilities and roughly 2.311 billion square feet of rentable space. In other words, the volume of self-storage units in the country could fill the Hoover Dam with old clothing, skis, and keepsakes more than 26 times. […] The self-storage industry made $32.7 billion in 2016, according to Bloomberg, nearly three times Hollywood’s box office gross.”

“High-end self-storage sites can command two or three times the rent per square foot than commercial or residential uses, and in many major metros, these warehouses are 90 percent occupied.”

I resisted renting a storage unit for many years and broke down this year because I need a place to store the Land Rover’s hardtop when I switch to the soft top this spring.

More »

Why Microsoft Word must die

“Microsoft Word is a tyrant of the imagination, a petty, unimaginative, inconsistent dictator that is ill-suited to any creative writer’s use. Worse: it is a near-monopolist, dominating the word processing field. Its pervasive near-monopoly status has brainwashed software developers to such an extent that few can imagine a word processing tool that exists as anything other than as a shallow imitation of the Redmond Behemoth. But what exactly is wrong with it?”

Full post by Charlie Stross

Truth in Advertising

Written by David Chiavegato and its director, Tim Hamilton, Truth In Advertising is a genuinely funny comedy that was nominated for a Palm d’Or in 2001. Colin Mochrie, best known as a regular on Whose Line Is It Anyway? in the US and UK, is the boss in an advertising agency where everybody tells the embarrassing truth about…advertising.

Nanoinfluencers

“Nanos” for short. From the NYT story:

“People who have as few as 1,000 followers and are willing to advertise products on social media. Their lack of fame is one of the qualities that make them approachable. When they recommend a shampoo or a lotion or a furniture brand, their word seems as genuine as advice from a friend. In exchange for free products or a small commission, nanos typically say whatever companies tell them to.”

AI Superpowers

“In his book “AI Superpowers: China, Silicon Valley, and the New World Order,” Kai-Fu Lee, a well-known artificial-intelligence expert, venture capitalist and former president of Google China, argues that China and Silicon Valley will lead the world in AI. But his highly readable book covers a lot of other ground as well, and among the most interesting insights are his descriptions of the differences between Chinese and Silicon Valley tech culture.” (Washington Post review) Not quite finished but here are some excerpts:

If artificial intelligence is the new electricity, Chinese entrepreneurs will be the tycoons and tinkerers who electrify everything from household appliances to homeowners’ insurance. […] Ambitious mayors across China are scrambling to turn their cities into showcases for new AI applications. They’re plotting driverless trucking routes, installing facial recognition systems on public transportation, and hooking traffic grids into “city brains” that optimize flows.

China’s startup culture is the yin to Silicon Valley’s yang: instead of being mission-driven, Chinese companies are first and foremost market-driven. Their ultimate goal is to make money, and they’re willing to create any product, adopt any model, or go into any business that will accomplish that objective. […] The core motivation for China’s market-driven entrepreneurs is not fame, glory, or changing the world. Those things are all nice side benefits, but the grand prize is getting rich, and it doesn’t matter how you get there.

Adoption of mobile payments happened at lightning speed. By the end of 2016, it was hard to find a shop in a major (Chinese) city that did not accept mobile payments. […] By the end of 2017, 65 percent of China’s over 753 million smartphone users had enabled mobile payments. […] It got to the point where beggars on the streets of Chinese cities began hanging pieces of paper around their necks with printouts of two QR codes, one for Alipay and one for WeChat. […]

For 2017, total transactions on China’s mobile payment platforms reportedly surpassed $ 17 trillion—greater than China’s GDP. […] Data from mobile payments is currently generating the richest maps of consumer activity the world has ever known, far exceeding the data from traditional credit-card purchases or online activity captured by e-commerce players like Amazon or platforms like Google and Yelp. […] Recent estimates have Chinese companies outstripping U.S. competitors ten to one in quantity of food deliveries and fifty to one in spending on mobile payments. China’s e-commerce purchases are roughly double the U.S. totals, and the gap is only growing.

U.S. federal funding for math and computer science research amounts to less than half of Google’s own R& D budget.

Between 2007 and 2017, China went from having zero high-speed rail lines to having more miles of high-speed rail operational than the rest of the world combined.

It no longer makes sense to think of oneself as “going online.” When you order a full meal just by speaking a sentence from your couch, are you online or offline? When your refrigerator at home tells your shopping cart at the store that you’re out of milk, are you moving through a physical world or a digital one?In the United States we build self-driving cars to adapt to our existing roads because we assume the roads can’t change. In China, there’s a sense that everything can change—including current roads. Indeed, local officials are already modifying existing highways, reorganizing freight patterns, and building cities that will be tailor-made for driverless cars.

Much of today’s white-collar workforce is paid to take in and process information, and then make a decision or recommendation based on that information—which is precisely what AI algorithms do best.