Banks Becoming Worthless to Society
Much of what investment bankers do is socially worthless. The New Yorker's John Cassidy says banks modern iteration is far removed from its historical role of funding business.
Wall Street’s role in financing new businesses is a small portion of what it does. The market for initial public offerings of stock by U.S. companies never fully recovered from the tech bust. During the third quarter of 2010, just thirty-three U.S. companies went public, and they raised a paltry five billion dollars. Most people on Wall Street aren’t finding the next Apple or promoting a green rival to Exxon. They are buying and selling securities that are tied to existing firms and capital projects, or to something less concrete, such as the price of a stock or the level of an exchange rate.
The way that you think about stress can actually transform the effect that it has on you – and others.
- Stress is contagious, and the higher up in an organization you are the more your stress will be noticed and felt by others.
- Kelly McGonigal teaches "Reset your mindset to reduce stress" for Big Think Edge.
- Subscribe to Big Think Edge before we launch on March 30 to get 20% off monthly and annual memberships.
Three scientists publish paper proving that not Venus but Mercury is the closest planet to Earth
- Earth is the third planet from the Sun, so our closest neighbour must be planet two of four, right?
- Wrong! Neither Venus nor Mars is the right answer.
- Three scientists ran the numbers. In this YouTube video, one of them explains why our nearest neighbour is... Mercury!
The blood of horseshoe crabs is harvested on a massive scale in order to retrieve a cell critical to medical research. However, recent innovations might make this practice obsolete.
- Horseshoe crabs' blue blood is so valuable that a quart of it can be sold for $15,000.
- This is because it contains a molecule that is crucial to the medical research community.
- Today, however, new innovations have resulted in a synthetic substitute that may end the practice of farming horseshoe crabs for their blood.
The distance between the American dream and reality is expressed best through literature.
- Literature expands our ability to feel empathy and inspires compassion.
- These ten novels tackle some facet of the American experience.
- The list includes a fictional retelling of the first Native American to graduate from Harvard and hiding out in inner city Newark.
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