markets in everything

Deconvexifying the car, car feature markets in everything

…BMW is planning to move some features of its new cars to a subscription model, something it announced on Wednesday during a briefing for the press on the company’s digital plans.

…now the Bavarian carmaker has plans to apply that model to features like heated seats. BMW says that owners can “benefit in advance from the opportunity to try out the products for a trial period of one month, after which they can book the respective service for one or three years.” The company also says that it could allow the second owner of a BMW to activate features that the original purchaser declined.

In fact, BMW has already started implementing this idea in some markets, allowing software unlocking of features like adaptive cruise control or high-beam assist (in the United States, those options are usually standard equipment). Other features are more whimsical, like having a Hans Zimmer-designed sound package for your electric BMW or adaptive suspension for your M-car. Indeed, the company says that its forthcoming iNext will “expand the opportunities for personalization.” I’m sure y’all can’t wait.

Here is the full story, via the excellent Samir Varma.  In the standard theory of bundling, bundling enables more price discrimination, as for instance with the cable TV bundle.  But if most consumers really don’t value the add-ons at all, which perhaps is the case here, a’la carte may maximize revenue after all.

Tales from Trinidad barter markets in everything

One of my favorite countries, this is from the newspaper:

DESPERATE to get his taxi badge, a man bought a $500 used typewriter and donated it to the Licensing Office…

The seller, who asked not to be named, wrote: “So funny story. I had a typewriter for sale on Facebook marketplace for some time. I get this call from a young man. We chat for a bit. He says he’s down at licensing office. He’s coming right now.

“When he arrives he gives me the story. Since December he’s been trying to get his taxi badge. He bought a maxi taxi and can’t use it because he’s waiting for his badge. Then when he passed pandemic lockdown happened. Three months later, Licensing Office opens with an appointment system, appointment to pay, then appointment to collect. The day arrives to collect. He’s told typewriter is not working over a week.”

The post goes on to say that officials at Licensing agreed that if they got a typewriter they would be able to provide the taxi badge.

The seller continues: “He finds me on Facebook marketplace. When he arrives he says ‘You ever heard of a private person buying a typewriter for the State?’ Money paid. He calls later to say everyone is getting their license today. He actually called twice while at licensing office to get further instruction on operating the typewriter. Well done, young man. Well done!”

Via K.

Coronavirus travel markets in everything

As tourism slowly resumes around the world, many nations are still reluctant to open their borders fully – with Cambodia imposing perhaps the toughest entry requirements of any country.

The south-east Asian country is popular with backpackers, and most renowned for the Unesco-listed temple complex at Angkor Wat.

According to the latest Foreign Office bulletin on Cambodia, foreign travellers must pay a $3,000 (£2,400) deposit for “Covid-19 service charges” at the airport upon arrival.

What appears to be the first “coronavirus deposit” can be paid in cash or by credit card.

The FCO says: “Once deductions for services have been made, the remainder of the deposit will be returned.” But those deductions may be steep – especially if another passenger on the same flight happens to test positive for coronavirus.

So far, so good, perhaps you are keen to go.  But here is the downside of the experience:

But if one passenger on their flight tests positive for coronavirus, everyone on the same flight is quarantined in government-approved accommodation for two weeks, at a cost of $1,176 including meals, laundry and “sanitary services”. They must also pay another $100 for a second Covid-19 test. This totals a further £1,021.

If the traveller happens to be the coronavirus-positive patient, they will have to take up to four tests at another $100 (£80) each, as well as $3,150 (£2,500) for treatment at the Khmer-Soviet Friendship Hospital in the capital, Phnom Penh.

And:

…Cambodia also imposes a requirement for $50,000 (£40,000) of travel insurance cover for medical treatment.

If the unfortunate arrival passes away, the Foreign Office warns: “The cremation service charge is $1,500 [£1,200].”

Here is the full article, via Shaffin Shariff.

Coronavirus imaginary travel markets in everything

When you’ve been cooped up for months, you start to miss aspects of life you used to dread. Remember airport security lines? Remember 3.4-fluid-ounce bottles? Remember taking off your shoes and then scrambling to put them back on at the end of a conveyor belt? What we wouldn’t give for those experiences now.

For travelers longing for the days of yore, Taipei’s Songshan Airport is offering 90 people the chance to pretend they’re going on vacation.

The airport is hosting a tour that will allow people to go to the airport, without actually going anywhere. The half-day experience will include a tour of the airport, a mock immigration experience and finally, the chance to board and then disembark an airplane.

Here is the full article, via Shaffin Shariff.

Coronavirus travel insurance markets in everything

Moral hazard — forget about it!:

In the Mediterranean island nation of Cyprus, government leaders have pledged to cover all costs for any traveler who tests positive for the coronavirus while on vacation, according to the Associated Press. In a letter sent out to governments, airlines and tour operators, Cypriot officials said they would cover “lodging, food, drink and medication for covid-19 patients and their families” while on the island.

Tourism accounts for 13 percent of Cyprus’s economy, according to the AP, and with one of the lowest coronavirus ratios per capita in Europe, tourism ministers plan to restart international air travel on June 9.

Here is the full story, which includes other examples.

Coronavirus markets in everything, Swedish restaurant edition

At Rasmus Persson and Linda Karlsson’s restaurant, you don’t have to order takeout, or wear a mask, or try to stay two metres away from the other patrons — because there are no other patrons.

It’s just you, seated alone at a table in a picturesque meadow in the Swedish countryside as you’re served a homemade meal that arrives in a basket using a rope and pulley.

It’s called Bord För En, which translates to “table for one,” and it opened on May 10 in Ransäter, a rural town some 350 kilometres west of Stockholm.

“We wanted to create a space that’s 100 per cent corona-free, as much as we could at least,” Persson told As It Happens host Carol Off.

Here is the full story, via Michelle Dawson, and no you don’t have to worry about them having too many beautiful women…

And here is their Facebook page with further details and images.  By the way, most of the customers are men.  Then there is this:

When you book your reservation at Bord För En, you include a list of names of your close friends, and the restaurateurs then solicit one of them to write you a personal message.

It operates on a “pay what you wish” basis, and so far they have been heavily booked.

Markets in everything

Tear gas is among the new flavors at a Hong Kong ice cream shop.

The main ingredient is black peppercorns, a reminder of the pungent, peppery rounds fired by police on the streets of the semi-autonomous Chinese city during months of demonstrations last year.

“It tastes like tear gas. It feels difficult to breathe at first, and it’s really pungent and irritating. It makes me want to drink a lot of water immediately,” said customer Anita Wong, who experienced tear gas at a protest. “I think it’s a flashback that reminds me of how painful I felt in the movement, and that I shouldn’t forget.”

The flavor is a sign of support for the pro-democracy movement, which is seeking to regain its momentum during the coronavirus pandemic, the shop’s owner said. He spoke on condition of anonymity to avoid repercussions from the pro-Beijing government.

“We would like to make a flavor that reminds people that they still have to persist in the protest movement and don’t lose their passion,” he said.

He tried different ingredients, including wasabi and mustard, in an effort to replicate the taste of tear gas. Black pepper, he said, came closest to tear gas with its throat-irritating effects…

At about $5 a serving, tear gas ice cream has been a hit. Prior to social distancing regulations over the coronavirus outbreak, the shop’s owner said he was selling 20-30 scoops per day.

Here is the full story.

Coronavirus sports markets in everything, multiple simulations edition

For $20, fans of German soccer club Borussia can have a cut-out of themselves placed in the stands at BORUSSIA-PARK. According to the club, over 12,000 cut-outs have been ordered and 4,500 have already been put in place.

Here is the tweet and photo.

And some sports bettors are betting on simulated sporting events.  (Again, I’ve never understood gambling — why not save up your risk-taking for positive-sum activities?  Is negative-sum gambling a kind of personality management game to remind yourself loss is real and to keep down your risk-taking in other areas?)

Via Samir Varma and Cory Waters.

Quarantine markets in everything and stimulus at that

As countries in Asia impose stricter entry requirements on foreign visitors amid a new wave of imported coronavirus infections, hotels in the region are seeing unexpected opportunities as quarantine lodgings for travelers and workers seeking self-isolation venues.

Industry players say the unusual proposal of repurposing hotels as quarantine quarters is one way the battered hospitality sector could fill up some rooms and get much-needed revenue during such tough times, while lending a hand to the most affected sectors or communities amid the escalating situation worldwide.

And:

These full-board packages are targeted at Thais or residents who wish to isolate themselves for 14 days. Meals are delivered to the rooms on trolleys, while dishes, cutlery and bedsheets used by guests in self-isolation will be separated for special handling.

A special team will provide daily housekeeping services and help monitor the conditions of the guests under quarantine. Should any of these guests become unwell or develop any coronavirus symptoms during their stay at the hotel, they will immediately be sent to the several hospitals located in the vicinity of the hotel, according to Shah.

“We hope to get at least some customers with these quarantine packages, as standard tourists will not come during this time,” Shah remarked. These packages are priced very competitively with rates slashed by 20 percent, he added.

With the Singapore government making it mandatory for anyone entering the country since March 20, 11.59 p.m. to undergo a 14-day stay-at-home notice, Park Hotel Group Executive Director Shin Hui Tan has already seen an uptick in enquiries from returning residents wanting to check themselves into hotels during the two-week period.

Here is the full story, via Air Genius Gary Leff.

Canine collar markets in everything

There are a lot of great options for dog collars on the market, but none of them will amuse you quite like the Cuss Collar from Mschf Labs. It’s a relatively simple product that combines a patent leather collar strap with an injection-molded speaker that does exactly what you think it does–it swears every time your dog barks. After all these years, it turns out Fido wasn’t saying things like “I love you,” “let’s go for a walk,” or “feed me,” he was saying things like “motherf#*ker,” “shit,” and all kinds of other expletives.

Here is the full story, via Michael.

Commuting markets in everything?

From Palo Alto to San Francisco in 15 minutes.

Hello, Palo Alto residents!

We are an early-stage startup that is aiming to shorten your commute times. We use state-of-the-art Electric Vertical Takeoff and Landing aircrafts. We have just opened access to early flights:

https://skypodone.com

You would be able to fly from Palo Alto to San Francisco in about 15 minutes for about $23 one-way.

It would mean a lot to us if you could share some feedback and if this kind of service would be beneficial to you.

Thank you so much!

Here is the link, via tekl.

San Antonio Zoo Valentine’s day markets in everything

For $25, you can name a rat after your dreaded ex. This rat, who now bears that terrible person’s name, will then be fed to a snake on February 14.

And yes there is price discrimination too:

FYI, you can also pay $5 to the San Antonio Zoo to have a cockroach named after your ex if you’d like to go a cheaper route.

Here is more, via Ellen F.  Should this be understood as a reductio ad absurdum of “takedown culture”?  Somehow I don’t think so.  I am in fact surprised that our gentle age would permit such an emotionally hostile practice.  For what is this a “gateway drug?”  What if you believed in a strange kind of voodoo and thought such feedings in fact placed causal pressure on the so-called real world?  I would be surprised if this market still were up and running in three years’ time.

Coronavirus markets in everything

Government officials across Hubei province, the epicenter of the coronavirus outbreak, are desperate to find ways to stop the spread of the infection.

In Hubei’s Fangxian County, officials are trying a different approach — paying sick people.

According to an official Fangxian County notice, anyone who is sick and reports themselves to a hospital can expect to be paid.

Patients who have a fever and turn themselves in will receive 1,000 yuan ($142).

But officials and other interested parties are also being offered cash incentives if they catch anyone with a fever. For each person with a fever who is reported by an official or citizen, there is a reward of 500 yuan ($71).

The notice said that the offer is only valid from today until February 18.

Here is the link (nothing extra there, except a noisy video and you have to scroll down a lot).  Via Neville.

Coronavirus multilateral insurance markets in everything

As financial markets fretted over the spread of a coronavirus outbreak in China this week, one security was in the firing line more directly than any other. Holders of the World Bank’s pandemic bond will lose principal if the disease spreads by a sufficient amount, writes Jasper Cox.

The World Bank’s pandemic bond, issued in 2017, provides funding for the development bank’s Pandemic Emergency Financing Facility (PEF) if an outbreak of one of six viruses meets certain conditions.

Here is the link (gated), here is a more detailed John Dizard FT story:

The event triggers were calculated on a complex formula based on deaths in the country of origin, a smaller number of deaths in neighbouring countries, and a relatively rapid increase in infection and mortality. Interest charges were assumed by rich-country donors including Germany and Japan. The riskier bonds pay 11.5 per cent over Libor, since they required only 250 deaths to reach the trigger. Not bad, considering the “expected loss” for the tranche was only 7.74 per cent. The less risky tranche required 2,500 deaths, so only paid 6.9 per cent over Libor, compared with an expected loss of 3.57 per cent.

Here is a pre-coronavirus discussion of the bonds, mostly with reference to Ebola.

Cruise ship markets in everything

As the ongoing coronavirus epidemic disrupts cruise operations throughout Asia, Lindblad Expeditions, the cruise operator for National Geographic Expeditions, announced Thursday that it has become “the first self-disenfecting fleet in the cruise industry.”

The company has implemented a disinfectant coating solution developed by Danish company ACT.Global, which uses the photocatalytic properties of titanium dioxide to generate free radicals from airborne water molecules. When exposed to light, the coating converts airborne H20 into OH- ions, which break down bacteria, viruses, mold, airborne allergens and volatile organic compounds (VOCs). The coating can be applied to all surfaces to give them self-disinfecting qualities, including food-contact surfaces.

According to Lindblad, ACT.Global’s coating creates a cleaner, healthier ship while reducing impact on the environment. The antibacterial spray is transparent and odorless, and it purifies and deodorizes the air for up to one year.

Here is the full story, via Anecdotal.