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Margarita W. Wilson

Writer market

Here is the biggest predictor of the success of a PSPC

When it comes to investing in specialized acquisition companies, or SAVS, there are plenty of choices. So how do you separate the long term winners from the rest of the pack? In this fool live Video clip, recorded July 12, Fool.com contributor Matt Frankel, CFP, and Focus on industry Host Jason Moser talks about the one factor that turns out to be the best predictor of PSPC’s long-term returns.

Jason Moser: Matt, we talk a bit about PSPCs on this show, we even aired a four part series on PSPCs earlier this year. I had a lot of fun putting together these shows. You and I were talking about an article we just read here on CNBC regarding PSPCs. There was some interesting data from Wolfe Research in this article, it was talking about the performance of PSPCs. I think it’s basically about a year here. But these data from Wolfe Research indicate that, on average, the SAVS with experienced sponsors register higher returns since by the sponsors, it is the blank check company that introduces the real company into its universe, to make it. public. We want to talk about this for a minute, just from the larger SPAC perspective and what do you think of this data, what do you think it says? Then also talk a little more. There is one specific SPAC that has been in the headlines here in recent days, Galactic Virgo (NYSE: SPCE), for obvious reasons, a successful flight in space. But let’s go ahead and start with the broader implications here. Because it doesn’t sound that surprising, but at the same time, it feels like it’s still a very short timeline to be judged on.

Matt Frankel: It does and I think what they are trying to argue is that the market has been inundated with SAVS. I have some statistics here. In 2018, 46 PSPCs went public, in 2019 there were 59, in 2020 there were 248.

Moser: The sacred cow.

Frankel: Already in 2021, they were 367.

Moser: Wow.

Frankel: The market was inundated with them. In the old days, when you were a sponsor of SASP, it was because you knew something about the business or industry that you were trying to pursue. Now it’s like everyone with any credibility is starting a PSPC, Shaquille O’Neal has their own PSPC.

Moser: I was going to say you don’t even feel like you really need that credibility. All you need is a name.

Frankel: Unless he was trying to go public with the Los Angeles Lakers. I really don’t know how his experience would come into play.

Moser: Or Papa Jean‘s (NASDAQ: PZZA) maybe i could see at least one pizza place because he’s on the board of papa john’s i still think-

Frankel: He owns a lot of Five Guys.

Moser: It’s rather good.

Frankel: But I love Shaq, so nothing against Shaq.

Moser: Yes. Me too.

Frankel: But the point is, and it’s really one of the things that I’m looking for, everyone always says, how do you choose all of these PSPCs? There are 400, how do you decide which three to put in your wallet? This is one of the things that I watch. Remember Latch (NASDAQ: LTCH) we had at the show, they will make it public through an innovation acquisition from TSI sponsored by Tishman Speyer, one of the nation’s largest commercial real estate companies. He is clearly a sponsor who knows a lot about this industry, he is a good partner. In PSPCs, the partnership aspect is really undervalued. The celebrity aspect is getting too much attention and the partnership aspect is getting too little. Think of The Motley Fool’s investment strategy, how we want partner companies. We want companies where the CEO is a partner of their shareholders. When I was hired here, they told me that we would rather have a good partner than a great writer. It’s such a valuable part of business in general, and it’s become undervalued throughout the PSPC craze just because of all the big names throwing their names away and not even like sharks like Bill Ackman and Chamath [Palihapitiya].

Moser: Yes.

Frankel: Chamath worked at Facebook (NASDAQ: FB), has he ever started a space travel business? No, this one is well done. But this is the exception, not the rule according to this research.

Moser: Yes.

Frankel: There are a lot of successful SPACs that have partnered with people who know this industry very well. I mentioned Latch as a great example, 23 and me (NASDAQ: ME) you can safely say that Richard Branson has a lot of experience with consumer branding and things like that. I don’t think he did any genetic research himself, but that’s not really the issue, he’s a consumer products business at this point.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are heterogeneous! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.


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Fiction publisher

Stacey Abrams wooes Republican vote on suspense and novel readers

John Spiegel, a retired banking executive, and his wife, Karen, a retired textbook editor, describe themselves as “committed Republicans for life.” They divide their time between a neat neighborhood in Atlanta and a waterfront community in Ponte Vedra Beach, Florida. “Fewer murders,” Karen explained, referring to Ponte Vedra. “And, you know, you don’t pay any state income tax.” Besides being book readers, they’re not what you’d imagine to be the main demo of “While Justice Sleeps”, Stacey Abrams’ latest work of fiction. The Progressive Democrat, who is due to run for governor of Georgia next year, has previously written romantic thrillers (“Hidden Sins”, “The Art of Desire”) under the pseudonym Selena Montgomery, and books by non -politically oriented fiction under its own name (“Leader of the Minority”, “Our Time is Now”). None of these interested the Spiegels. But his new political thriller appeared on the Time bestseller list. This caught the attention of John, who viewed Abrams as an “overly outspoken and one-sided” politician.

John’s curiosity overwhelmed him. He bought a copy of the novel and finished it within days. “You’re not going to approve of who wrote this book,” he told his wife, walking out of his office. “But it’s good.” Abrams is, he said, “articulate and a gifted storyteller.”

Karen generally accepts her husband’s recommendations. What about an author whose politics Karen thinks are Marxist? She said, “I don’t like Stacey’s liberal approach to having everything free, you know. All the “give me” and “I must have”. But she likes what she calls “books that really kill” – “You know, Ann Rule, that sort of thing.”

So Karen read “While Justice Sleeps” and ended up worshiping it. “It’s a believable and interesting concept that she writes about,” she said, referring to a plot that the Time described, in mixed reviews, as “a deadly maelstrom of potentially lethal presidential machinations.” She continued, “I mean, that poor woman that’s fair, you know, sucked into this scheme, or whatever, that the Supreme Court judge had – and that’s just believable. It makes sense, and that’s what I liked. (The Time nicely disagree. “Readers looking for dimensional figures whose inner lives illuminate an ever believable narrative,” his reviewer wrote, “will not find them in this book.”)

In Marietta, Georgia, Carter Crenshaw sided with the Spiegels. He is twenty-three and is a fan of Mitt Romney and Carly Fiorina. His “Stacey-loving” fiancee gave him the book. It reminded him of John Grisham. “It was very similar to ‘The Firm’,” he said. “If you like Grisham, you’ll like Abrams.” He read it during breaks at work – he is an advisor in a health network – for four or five days. “It would be a good TV show,” he said. He compared it to “Scandal” and “24”. “These vibrations, I would say.”

The rest of Crenshaw’s family are more conservative and, in his opinion, less inclined to become readers – far fewer voters for – Abrams. “I asked my grandmother,” he continued, “who I’m really close to – but who is definitely a Trumpster, unlike me – and the idea was pretty immediately rejected.” He continued, “She pushed me away. Abrams’ name on the book was enough information for her. Although he liked the novel, Crenshaw isn’t quite ready to vote for Abrams as governor.

The Spiegels recently made Florida their official residence, so they won’t have a say in Abrams’ political future. “Unless she runs for president one day,” Karen said with a shudder. “She’s going to run for something, I know that, and she’s going to win.” But after reading “While Justice Sleeps,” she conceded, “I wouldn’t be as unhappy with her victory as before. Does that make sense? “

The power of the political thriller to reach the other side of the aisle has its limits. Hillary Clinton will release an international political thriller “State of Terror” this fall. Clinton wrote it with her friend Louise Penny, the Canadian novelist. Would Karen give him a chance? “Probably not,” she said. “I’m not even sure I believe Hillary wrote it.” ♦


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Reading and writing

Upstate Young Woman Writes Children’s Book About Cerebral Palsy Journey | Erin De Gregorio

Samantha VanAlstyne, 25, can now list “published author” on her resume as she continues to juggle life and college during an ongoing pandemic. Earlier this year, she self-published “Hi, I’m Sam,” which details her journey with cerebral palsy and learning self-acceptance.

“It all started as a conversation with my seven-year-old niece,” VanAlstyne said, further explaining that she is a five-year-old aunt, with two on the way. “She wanted to know why I live in a group home rather than my father.”

“Then,” VanAlstyne continued, “the idea became an educational tool for children and adults who might not know how to approach the subject otherwise.”

Having always enjoyed reading and writing growing up, VanAlstyne said she wanted to be an author while other children aspire to be a firefighter or a police officer. “I’ve always breathed books and even now I read or listen to two to three books a month,” she said.

But, we can also say that being an author is in VanAlstyne’s blood. “As a child, my favorite books were the Little House on the Prairie series,” she explained, “mainly because the author is my distant maternal relative. “

VanAlstyne started the writing process last October and carefully organized her college semester schedule so that she could use her Fridays off as “work days” for writing. She saw the final product come to fruition in January, after learning how to publish the 700-word story herself as well as design the layout and cover. She also collaborated with her cousin Tessa for the illustrations for the book.

“Getting my first batch of books after publication was fun,” VanAlstyne said. “I cried when I opened the box.”

Throughout this process, VanAlstyne said she learned that the children’s book was more needed than the audience anticipated. Pictures of children holding VanAlstyne’s book were also posted on various social media platforms, which helped spread VanAlstyne’s messages of learning, love and acceptance.

“When I published it, I had hoped to sell maybe 10 copies to my family and friends,” she said six months after her book came out. “But I sold about 300 of them, which is way more than I expected.”

The Chatham, NY native moved to Hudson five years ago and currently lives and receives services through Devereux Advanced Behavioral Health New York. VanAlstyne credits team members Devereux New York for helping “thrive and become more independent”.

“We are extremely proud of Samantha and all she has accomplished,” said John Lopez, Executive Director of Devereux New York. “She is a talented young woman who, during the COVID-19 pandemic, decided to take the time to write and publish a book – in addition to taking several university courses. “

He continued, “At Devereux New York, we strive to help the people we serve pursue their dreams, and Samantha does just that.”

As summer is in full swing, VanAlstyne is pursuing her associate degree in psychology at Hudson Valley Community College – in the hopes of one day helping people with substance use disorders. She also plans to write several sequels to “Hi, I’m Sam” in the future.

“Hi, I’m Sam” can be purchased online through Amazon, Barnes and Noble, and Walmart. Those interested in directly supporting VanAlstyne can also purchase an autographed copy from its website, samvanalstyne.com.


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Book creator

The highlight of the “Game of Thrones” books will be different from the TV show: George RR Martin

Fans of the hugely popular “A Song of Ice and Fire” series have some exciting news coming up! George RR Martin recently sparked the interest of loyal devotees by dropping major clues about an incredibly surprising twist in the last two books of the “Game of Thrones” TV show that ended in 2019.

Unsurprisingly, the revelation sparked a frenzy. Fans have done everything in their power to gather more details, ranging from calling on HBO to urging Martin to update the unfinished books at every opportunity.

In an interview with WTTW Chicago, GRRM suggested that the unfinished, untitled final book “The Winds of Winter” will likely go in a “somewhat different” [direction]”compared to the TV show.

According to Fanside, the 72-year-old writer attributed the end of the series to his writer’s block and wanted him to stay ahead of the books. “My biggest problem there was when they started the series, I already had four books printed, and the fifth came out just as the series started in 2011. I was five books ahead of the game. , and these are gigantic books. , as you know; I never thought they would catch up with me, but they did, ”the author said.

The novelist is now back from a Pause.

The creator of “GOT” added that the gap to follow was overwhelming, as the series unexpectedly diversified. He clarified that the book was still in the works, but vowed not to leave fans disappointed when it was finished.

While a surprise twist isn’t a really terrible idea, the big reveal unlocks another (potential) disappointment: The fan-waiting game is set to go on for longer. Martin has yet to go into specifics regarding providing an update.

Much of the screenwriter’s ambiguity regarding mentioning an end date stems from the fact that he was unnecessarily pressured whenever he made a prediction on the same thing and didn’t. failed to stick to it. GRRM, however, assured fans that he “had high hopes” this time around.

George RR Martin poses with an award for Outstanding Drama Series in the press room during the 71st Emmy Awards at Microsoft Theater on September 22, 2019 in Los Angeles, California., Photo by Dan MacMedan / WireImage


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Writer market

New study by Market Research Store – Murphy’s Hockey Law

The 2021 Global Card Reader-Writer Market study is a comprehensive document that supports and facilitates the assessment of all aspects of the Card Reader-Writer Market. It provides picture of the foundation and framework of the Card Readers market along with positive and restraining market factors for global and regional growth. It examines many manufacturers, unions, organizations, suppliers, and industries in Smart Card Readers industry to determine the current state of the market.

In addition, the research on the Global Card Reader-Writer Market 2021 includes valuable data on segmentation, distribution networks, projected growth patterns, monetary and business conditions, as well as many other key aspects relating to the market. card reader-writer market. The research also contains detailed information about the two most important market segments of the Card Reader-Writer Market: {Contact based, contactless based, dual interface based} and {Payments, identity and security, others}.

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Fiction publisher

5 author pseudonyms that have never been revealed

This content contains affiliate links. When you buy through these links, we may earn an affiliate commission.

There are many reasons why authors may choose to write under a pseudonym; among them are personal safety, industry sexism, or just writing something in a different style or genre than what one is established in. Years ago, Meg Cabot wrote romance novels under multiple pseudonyms because she wrote for three different publishers and couldn’t be seen as competing with herself for readers.

A well-known pseudonym who has been discovered was Stephen King writing as Richard Bachman. A bookstore clerk noticed similarities between the works of King and Bachman and located the publisher’s records at the Library of Congress, a document of which identified King as the author. King had wanted to know if his career had been motivated by “talent versus luck”. King later announced that Bachmann died of “pseudonym cancer.”

These mysterious authors run the gamut from literary fiction to, well, whatever “My Immortal” is. They largely avoid the media, and their work occupies an interesting place in literary history as well as, in a few cases, Internet history.

Helene Ferrante

At the height of “Ferrante Fever” in 2016, there was a bunch of theories as to who Ferrante was and, more specifically, whether Elena Ferrante is a pseudonym for a male writer (there is another school of thought that says Elena Ferrante is “really” an Italian translator). But do we need the identity of the author? It doesn’t matter who created a work of art if that work speaks to us? For some people this matters because Ferrante’s subject in Neapolitan novels is the lives of women.

Anonymous (Author of the Bourbon Kid series)

The author of this horror / thriller series has always remained anonymous. He claimed that he could not find a publisher because he would not give them his name and also because the books did not correspond to any particular genre. The unnamed book was published online in 2006. The series has since found a publisher and is available in print and electronic form.

John twelve hawks

cover image of The Traveler by John Twelve Hawks

Author of the Fourth Realm Trilogy, Spark and Against Authority, Twelve Hawks chose his pseudonym because the “old man” didn’t write his books. He said in an interview that his family does not know his identity and that he is considered a “failure by American standards of success”. In the same interview, he said that “Focusing on the life of a writer undermines the power of that writer’s ideas.”

Author of “My Immortal”

Loosely (and I mean loosely) based on the adventures of a certain wizard boy and his friends, “My Immortal” is arguably one of the most famous fan fiction pieces ever written and can be found in several places. online even after the original version disappeared from fanfiction.net. It has inspired many late night drama readings and more than a comprehensive web series. There has been a long debate over the years as to whether or not this was a work of satire or “trollfic”. Tara Gilesbie (or XXXbloodyrists666XXX) and her co-author have never been identified. There are entire Reddit communities dedicated to analyzing “My Immortal,” its writing, and mythology. An alleged perpetrator came forward in 2017 and a brief was in the works, but some inconsistencies were revealed in that person’s story and the book was shelved.

Dr Chuck Tingle

cover image of Straight by Chuck Tingle

Hugo-nominated author of erotic fiction featuring dinosaurs, monsters, and anthropomorphized concepts such as Twitch streams and fireworks, the real Chuck Tingle remains a mystery. The AMA Reddit made by Tingle’s “son” is definitely worth a read. Tingle claims to be born in a ghost town and has a degree in “holistic massage” from DeVry University (which does not offer such a degree). The Tingleverse has a unique place on the internet and Chuck Tingle, whoever he is, just wants to prove that “love is real”. Tingle recently released the straight horror novel.


Honestly, as much as I love a good literary mystery, wonder is part of the fun of any mystery. What do you think? Would you like really want to know? I do not think so.

Do you think you are quite familiar with known pseudonyms? Try this quiz to match the author to their pen name.


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Book creator

Nick Kroll’s slumber party tradition growing up has a ‘big mouth’ written all over it

Co-creator of Netflix Big mouth, Nick Kroll, was recently on his sister’s podcast to talk about their experiences with puberty growing up. Kroll and her sister, puberty expert Vanessa Kroll Bennett, had a little tradition of sleepovers among tweens. The activity seems to come straight out of an episode of Big mouth.

Nick Kroll | Joe Scarnici / Getty Images for New York Magazine

“Big mouth”

Big mouth was based on the experiences of Kroll and his childhood best friend, Andrew Goldberg. They co-created the series with Mark Levin and Jennifer Flackett, who bring their own embarrassing real-life memories to the writing process. The show debuted on Netflix in 2017 and is currently in production for Season 5. Currently, it is not confirmed whether Big mouth will debut in additional seasons after the release of the fifth. But Netflix gave the show a three-season contract in 2019, so fans are crossing their fingers for a similar situation with seasons 6, 7, and 8. The show received a few Emmy nominations in 2020, including the exceptional entertainment program award. , so another renewal deal is no exaggeration.

Big mouth follows cartoon characters Andrew, Nick, Jessi, Missy, Jay and their hormonal monsters as they attempt to navigate school and life during puberty. Comedy veterans such as John Mulaney, Maya Rudolph, Jason Mantzoukas, Jordan Peele, and Kroll himself play characters from the series.

During sleepovers, Nick Kroll and his sister watched a book about puberty

Puberty had a huge impact on Kroll and Kroll Bennett. Kroll has co-created a show dedicated to the topic and his sister has a podcast called The puberty podcast through Dear Media. But Kroll believes the period just before adolescence and adolescence itself has a huge impact on everyone.

Growing up, Kroll and Kroll Bennett were fascinated by their changing bodies. And their friends too. So every time the siblings had a slumber party, they had a tradition: to leaf through the puberty book and marvel at its contents.

“One of the activities we would do on our sleepovers, Nick with a male friend and I with a female friend, was to sit down and read the book, What is happening to me?, which was about puberty, ”said Kroll Bennett. “And it was like, it was kind of like sleepover gear, the release material was like looking at the book.”

“These designs are etched into my brain,” Kroll said, recalling.

Kroll remembers looking at the various pictures of “what is a boy at 7, 10, 13, 18, 20 …” While it was a fun and fun activity to do at sleepovers, the comedian found the book informative at the time.

“It was useful to see,” he said. “And I have a very vivid memory of loving different bodies as they grow older.”

Nick Kroll was a “late bloomer”

Kroll may have found the book “useful”, but he also began to “compare and contrast” himself with the images in the book. He himself was a latecomer.

“I think puberty, no matter where you fall in the spectrum of what’s happening to you, what I’ve realized now doing the show is like, pretty much everyone is uncomfortable with that. “, did he declare. “No one is comfortable with you being a late bloomer, like I was, and feeling late or inadequate that way, or being an early bloomer and everything being raging. and spiraling out of control. “

This is what Kroll and the co-creators decided to do with Big mouth – “to try to cover the spectrum of these experiences. And more than anything, just like letting people – and especially kids – know that they’re not alone going through this, just like we all are. We’ve all been there, we’ve all been there. And everything is normal. “

RELATED: “Human Resources”: Details on Nick Kroll’s “Big-Mouth” Spin-Off


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Reading and writing

Woman eats food pregnant women love

Everyone has heard stories about the weird and intense food cravings that women experience when they are pregnant. There’s the pregnant woman who must have had dill pickles dipped in ice cream or the one who couldn’t get through the night without a bucket of a specific type of fried chicken.

Researchers have yet to determine the exact reason pregnant women have these seemingly unnatural cravings, but there are a few reasons that are often cited. Pregnant women have an increased smell and taste which can have a direct effect on their appetite.

Some researchers believe that their bodies need specific nutrients that they need for a healthy pregnancy. Others have suggested that asking for food at odd hours may be a way for a pregnant person to develop a supportive bond with their partner before the baby arrives.


Mia Challiner, a British college student who lives in France, decided to try out some of these weird food combinations on her TikTok page, and the videos quickly went viral, racking up millions of views.

In the videos, she makes weird combos like pizza and ice cream or chicken and peanut butter, gobbles them up, then gives them a rating.

After watching these videos, it’s pretty clear that she has an open mind and adventurous taste buds as she really enjoys disturbing combos.

Toast and ice cream, WTF?

@miachalliner

do I have to do my worst then? 🤢 #imnotpregnant #bizarrescombos

Pickles and honey? No thanks.

@miachalliner

pt2? Some of my favorites from my series- #weirdfoodcombos #imnotpregnant

In this video, she goes in the deep end with sardines and cereal as well as peanut butter and jam on a mushroom.

@miachalliner

Reply to @avocadosandchocolate I’ve said this before but this one was by far the worst! #imnotpregnant #weirdfoodcombos

In her third video, she braved a plain potato peel and a tablespoon of cornstarch. Yuck.

@miachalliner

Reply to @sunnivajohansen as requested, Here is Part 3 of Eating Women’s STRANGE Pregnancy Cravings !! #fyp #impasence

How does a ketchup-soaked apple sound? How about a big scoop of peanut butter dipped in a hot sauce?

@miachalliner

trying weird combos for pregnant women – which one would you hate the most? #fyp #imnotpregnant #weirdfoodcombos

People at The daily mail has rounded up her most and least favorite food combos.

Top 5 of the best:

Pizza and ice cream: 12/10

Baked potato and ice cream: 12/10

Pretzel and ice cream: 10/10

Jam and cheese: 10/10

Cream cheese and jam on toast: 9/10

Top 5 of the worst:

Blue cheese and brownie: -10000/10

Chicken and peanut butter: 2/10

Banana and cream cheese: 2/10

Peanut butter and jam on a mushroom: 3/10

Raw onion: 3/10

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Writer market

Families rest on loved ones after deadly Baghdad explosion

BAGHDAD (AP) – Families buried loved ones on Tuesday who were killed in a deadly bombing that left at least 30 people dead hours earlier in a bustling market in the Iraqi capital.

The coffins were carried by relatives and placed in minibuses that transported them for burial. Funerals were held for the victims of the blast the day before in a crowded market in Sadr City, a suburb of Baghdad.

The Iraqi military said it had concluded an investigation into the bombing and discovered it was caused by a suicide bomber detonating a vest full of explosives in the middle of a popular market. Iraqi security officials initially said the attack was caused by a roadside bomb.

The military said in a statement that at least 50 people were injured in the attack. This was the third time militants have targeted Sadr City this year.

The Islamic State group claimed responsibility for the attack and said in an online statement that the bombing was carried out by Abu Hamza al-Iraqi.

The attack happened a day before the Eid al-Adha holiday, when many locals were shopping for gifts. New clothes are usually donated during the holidays.

Hussein al-Lami buried his nephews Murtada and 12-year-old Amir Sahi the night before, shortly after they were killed in the attack.

“The calamity has been enormous, especially for the parents and relatives of the two martyrs,” he said. “Today, Iraqis are spending Eid with calamity after suffering from this terrorist act. Now there is misery in every Iraqi home.

In June, 15 people were injured when a bomb placed under a kiosk in another market in Sadr City exploded. In April, at least four people were killed in a car bomb in Sadr City. This explosion was caused by an explosive device attached to a car parked in the market.

Large-scale bombings, once almost daily in Baghdad, have slowed in recent years since ISIS’s defeat on the battlefield in 2017.

At the Vatican, the Pope expressed his deep sadness at the loss of life in the explosion on Monday, according to the text of a telegram addressed on his behalf to the papal envoy in Iraq.

Francis “sends his condolences to the families and friends of those who have died,” the Vatican said Tuesday evening. Francis “also renews his fervent prayers that no act of violence diminishes the efforts of those who strive to promote reconciliation and peace in Iraq”.

The pontiff made a pilgrimage to Iraq in March that emphasized peaceful coexistence in the country.

___

Associated Press writer Frances D’Emilio in Rome contributed.


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Why “the creator’s economy” is music’s biggest lie

You want to hear the most depressing statistic in modern entertainment? It was delivered effusively the other month by a beaming Jack Conte, co-founder and CEO of fan fundraising app Patreon, who is now worth $ 4 billion. “A study published a few years ago showed that 75% of kids ages 6 to 17 want to be online video makers when they grow up,” Conte boasted. in a YouTube video. “There’s a whole generation of kids watching today’s creators make videos, do podcasts, shoot bullshit with their friends, start awesome businesses, make money. No wonder these kids want to be designers when they grow up! “

In Conte’s opinion, it is a cause for universal celebration that three quarters of children prepare for a career by fucking in front of a webcam. In his words, this is the foundation of a “second Renaissance” that will make the effort of three centuries of da Vinci & co. a simple “blip in a history book”. (Yes, he really does say so.)

The question to be asked in response to the 75 percent statistic is not whether the next generation’s ridiculously optimistic life plan will spawn a new creative class; this is the role the remaining 25 percent should play. If everyone is a creator, who is the audience? Moreover, in an economy of supply and demand, when creators are in the majority and the public the minority – who pays who?

Of course, Conte isn’t supposed to think about the ramifications. He only wants to stir up the hopes and dreams of millions of creators online, which Patreon can then reap at a profit. Patreon earns money by tap into income DIY artists and taking a percentage of their fan subscriptions. Even though these creators individually craft lean moolahs, as long as there are huge volumes of them, Patreon prints silver.

To perpetuate this scale-dependent business model, Patreon, like many other tech companies serving creators, is keeping a hollow promise: If you were born to create, a bargain awaits you just around the corner. That’s it other the guy, the one in the adjacent “For You” window, who is a stray Joe Schmoe; you, my friend, you are a true artist, and your art is worth money!

The online influencer community should be really wary of this Kool-Aid. As proof, they may be left speechless at the music industry – where a new generation, raised on the vanity metrics of streaming, are now experiencing the overwhelming reality of the so-called “creative economy” (or as Conte and d other leaders make it run, the “passion economy”).

As recently as last week, politicians across the UK, following an eight-month investigation, concluded that the commercial music streaming device was in need of a “full reset”. Yet their report came off on the front page: “Some successful and critically acclaimed artists have discovered that streaming revenues’ are not big enough to keep the wolf out of the door,” “he said. he declares.

The problematic word here: “Success”, which is – surely deliberately – left undefined. What is a successful artist in the era of democratized streaming?

The quote “the wolf in the door” is an overt reference to the famous British singer-songwriter Nadine Shah, who used the phrase when give convincing evidence to the politicians’ survey in November. With Covid sidetracking any hope of touring income, Shah said, she is struggling to pay her bills with streaming income alone. She currently has 71,378 worldwide monthly listeners on Spotify – which seems like a lot at first glance. But thanks to the mass of creators now clamoring for a limited audience paying fixed subscriptions, it’s actually relatively little. Every day Shah is fighting against more than 7 million fellow artists for a portion of Spotify’s global zero-sum royalties.

By rummaging on Spotify’s copyright explainer “Loud & Clear” offers a glimpse of just how ruthless the minimum requirements of “success” have become. Spotify proudly tells us that 57,000 artists currently share 90 percent of the royalties it pays. In 2020, Spotify paid around $ 5 billion in recorded music and publishing royalties; 90 percent of that would be $ 4.5 billion. The 57,000 acts sharing that money are what we can rightly call Spotify’s “Gold Club”. They only represent 0.8% of the total number of artists on its platform.

So if you’ve made it to the “Gold Club,” sharing the 90% Spotify royalty, that’s success, isn’t it? Press releases suggest so, but common sense probably tells us no: 57,000 individual artists are enough to fill Madison Square Garden twice.

Where does the threshold of the guillotine really fall for a “successful artist”?

The Spotify site informs us that only 13,400 artists (0.2 percent) generated $ 50,000 or more on the streaming platform last year. Of this group, 7,800 generated more than $ 100,000; 1,820 generated more than $ 500,000; only 870 artists won over $ 1 million.

Spotify Data / Rolling Stone Calculations

Exploring these granular statistics assures us that these 13,400 artists – the minority over $ 50,000 per year in our “Gold Club” of 57,000 members – cumulatively generated a minimum $ 2.22 billion on Spotify last year. Most likely, they generated over $ 3 billion.

That would leave a smaller pot, $ 1.5 billion, to be divided among the second division of the “Gold Club” – the remaining 43,600 artists falling under the $ 50,000 per year bracket.

Obviously, the most popular artists among those 43,600 would carve out the lion’s share of Spotify’s $ 1.5 billion. Yet even if that number were somehow evenly distributed among them, it would still only amount to $ 34,404 per artist per year. (Shah can be found at the bottom of Spotify’s “Gold Club,” with “Loud & Clear” ranking her among the 56,000 most popular artists on the platform.)

All this reveals a painful truth: even among the elite of the 0.8% of the “Gold Club” of artists on Spotify, there is a great disparity between successes and failures, with the majority of artists firmly in the latter. category.

Wolves, don’t forget to wipe your feet when you enter.

Obviously, the “passion economy” does not work for the 99.2% of Spotify creators outside the top 57,000 level. But, as Nadine Shah demonstrated, this also doesn’t work for a significant proportion of the 0.8% of the “Gold Club” elites. which are simply too far away from the growing number of 57,000 acts to make any money from streaming.

We could discuss whether a reworked payment model would make a difference here. If the royalties were split not from a fixed pie, but via a fan-centric model with per-stream pricing, could this help improve the lot of low-paying artists? Some reports suggest that this change would not make a big difference; the likes of SoundCloud, and now Portishead, would strongly disagree.

It’s also worth noting that, of course, artists like Nadine Shah can leverage their visibility on Spotify et al to build business elsewhere – for example, radio, retail, direct-to-consumer outlets like Bandcamp or live broadcasts that collect five-star reviews in large-format newspapers.

But to say that the creative economy alone works for successful musicians is deeply flawed.

I would like to come back to Jack Conte, selling his creative utopia to the 75% of children who want to become video makers. Conte knows that the millions of participants in his “passion economy” don’t just bring their downloads to the party – they bring friends, family, listeners and followers; they bring online marketing and social media promotion; all the tools to combat the odds that are fiercely stacked against them. The sum total of this promotion of autonomous creators, over millions and millions of accounts, is attracting mass audiences to the platforms. Tech companies are making a lot of money and getting a lot of subscribers, out of this frenzy of creators.

Maybe once the prosperity of big tech from the “passion economy” collides with the reality already evident in the music industry – that 99% of artists don’t make any money. decent online – we could see the 75% of kids dampening their interest. by becoming creators. Maybe artists like Shah, and millions by his side, will simply remove music from streaming services that don’t reward them enough for making their way into the world’s top 56,000 acts.

Until then, the global scale of the “passion economy”, combined with its participants’ desperation to get noticed, will roll the money for tech companies and their funders. And these backers are very happy: Take the investment firm Tiger Global, which was one of the biggest investors in Spotify before cashing in most of its stake in 2019 for $ 1.3 billion, as an example. and more. Tiger Global just led the $ 155 million investment round that gave Patreon its $ 4 billion valuation.

In the same video announcing the roundtable, Conte says, “There are podcasters on Patreon who make millions of dollars a year. There are YouTubers on Patreon who are making hundreds of thousands of dollars a month. These individuals, he assures us, “are living a crazy dream! On the rest – the creators who struggle to keep the wolves out of the door, who in the case of Spotify musicians make up about 99.8% of people – it’s much quieter.

Tim Ingham is the founder and publisher of Music trade in the world, who has served the global industry with news, analysis and jobs since 2015. He writes a regular column for Rolling stone.


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