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So much for my happy ending

"The success of a thing is the death of it" - Friedrich Nietzsche

Author

Micael Balioni
August 22, 2024

THE MUSTS

World

smile, things are getting better

Insights from the Global Wealth Report 2024

We read so much about the rich getting richer and inequality getting greater that it's a bit agonizing to think of hope. But there's a lot of good things going on too, and specific data often provides only part of the answer. This year's Global Wealth Report is out and I thought it would be nice to talk about the main insights I had reading it.

1 - Global Wealth Is Increasing: After the scare in 2022, things are looking up: The proportion of people with less than 10,000 dollars in assets has almost halved since 2000.

2 - Economic Mobility: You have more chances to move up in life than down. In the last 30 years, about a third of people have moved into a higher wealth bracket!

3 - Giant Inheritances: In the next 20 to 25 years, it is estimated that 83.5 trillion dollars will be transferred between generations. Unfortunately, there is no forecast that any of this money will come to me.

4 - Who Has the Most Millionaires? The USA leads the way with almost 22 million millionaires, followed by China and the United Kingdom.

5 - The middle class is doing well. Inequality has increased in emerging markets, but in many developed countries the middle class has seen its wealth grow more than the average.

Again, specific data often provides only part of the answer, but it’s good to see some positive data for a change, right?

What else in on

  • North Korea: Kim Jong Un is doing its best to block all North Koreans from escaping. It isn’t working. (Read)

  • Japan: The country is preparing to go public (IPO) with Tokyo’s subway system at a valuation of $4.7 billion. (Read)

  • Venezuela: Maduro goes after X and WhatsApp as pressure mounts to back up his claim to victory in the country. (Read)

  • Brazil: Government will exempt all Olympic medal winners from paying income tax on their podium prizes. (Read)

  • Italy: Three of the most influential people in technology, banking and law are among the victims of the shipwreck in Sicily. (Read)

 

Economy & Business

when some junior associate gets a bit too creative

Deadly Terms of Use

You all know I love a good plot twist, and this latest episode involving Disney is nothing short of a corporate thriller - fresh from Disney+ .

The Tragic Incident - October 2023

Kanokporn Tangsuan, a doctor from New York, tragically died after suffering a fatal allergic reaction while dining at Raglan Road, an Irish pub in Disney Springs. Her husband, Jeffrey Piccolo, had informed the restaurant staff multiple times about her severe nut and dairy allergies. Despite these warnings, Tangsuan was served food containing these allergens, leading to her death from anaphylaxis. Piccolo, seeking justice, filed a wrongful death lawsuit against Disney and the pub, demanding $50,000 in damages.

The Unbelievable Defense - Disney's Response

Now, here's where the plot thickens. Disney, in a move that can only be described as audacious, argued that the lawsuit should be dismissed based on a one-month Disney+ subscription. Piccolo signed up for in 2019. Yes, you read that right. According to Disney, by subscribing to their streaming service, Piccolo agreed to settle any disputes with the company out of court through arbitration. This clause, Disney claims, applies to any dispute, including his wife's death.

 The Legal Battle - Piccolo's Fight for Justice

Piccolo's lawyer rightfully called this defense "absurd." The notion that a streaming subscription could exempt a company from liability for a death  is beyond belief, at least one would think so. This defense highlights the extreme lengths to which mega-corporations will go to protect their financial interests, often at the expense of justice and accountability.

The Broader Implications - Personal Opinion: This case is not just about one family's tragedy; it’s a stark reminder of the power imbalance between consumers and mega-corporations. Terms of use for online services are often lengthy, complex, and difficult to understand. Consumers rarely have the opportunity to negotiate these terms, and companies like Disney can exploit this to avoid legal responsibilities. If Disney succeeds, it could set a dangerous precedent, allowing companies to shield themselves from any liability simply by including arbitration clauses in their terms of use.

What else in on

  • Google: lost its antitrust suit. What happens next could change the company (and Big Tech) forever. (Read)

  • X: is closing its operations in Brazil citing “illegal censorship orders” from Suprime Justice Minister Alexandre de Moraes. (Read)

  • Starbucks: fired its CEO and hired Chipotle's CEO, Brian Niccol. Starbucks shares rose +23% ($110bn) and Chipotle fell 13% ($67bn). (Read)

  • Revolut: consolidates its position as Europe's most valuable startup after selling shares in a secondary at a valuation of $45bn. (Read)

  • SpaceX: is preparing for its first private mission for 4 crew members with a spacewalk, scheduled for the 26th. (Read)

  • Amazon: The giant plans a discount online store offering items ranging from sweaters to skincare creams - all for less than $20 to compete with Temu and Shein. (Read)

 

Culture & Life

category is… Denmark realness

Copenhagen is becoming the new fashion capital

 

Since 1790, when Queen Marie Antoinette became addicted to buying new clothes, it has been common knowledge that Paris was the capital of fashion. Over time, Milan, New York and London have also become benchmarks.

Why is this happening? Copenhagen is well known for being one of the most sustainable cities in the world, as well as for its innovative design and award-winning restaurants.

But its marriage with fashion comes mainly from its concern for the environment. Copenhagen Fashion Week, which has been running for over 10 years, has always had sustainability prerequisites. Just to give you an idea, CPHFW only allows brands with transparent textile processes and production to enter - as well as holding an event with practically no waste.

And with 73% of millennials and 67% of Generation Z willing to pay more for sustainable products, it's clear to see why the city is on the rise.

What else is on:

  • US$ 1.085 billion globally: Deadpool & Wolverine becomes the highest-grossing 16-rated movie of all time. (Read)

  • Trend alert: Dolce & Gabbana debuts Fefé, a luxury alcohol-free dog perfume tapping into the booming pet luxury market. (Read)

  • Olympics every year: IOC (International Olympic Committee) and Netflix launch partnership to create annual Olympic content. (Read)

     

     

     

EDITOR’S RECOMMENDATIONS

Movies

I feel like I’m not allowed to be sad

 Ghostlight by Kelly O'Sullivan: Without any expectations, this movie became one of my favorites of the year. The film is an immensely moving character study on an ordinary dad who struggles to open up about his emotions. There are no Hollywood stars, extravagant sets, or lavish locations; instead, the film is an accurate representation of real life, making it extraordinarily relatable.

  • "Ghostlight" masterfully captures a family's journey through life, when the construction worker Dan finds himself drifting from his wife and daughter, and he ends up discovering community and purpose in a local theater’s production of "Romeo and Juliet".

One thing that I loved discovering about the actors afterwards is that they are, in fact, a family in real life, which totally adds an extra layer to their performances. "Ghostlight" is a warm and tender reminder of how art can reflect and illuminate our lives, leading us toward understanding, connection, and the importance of being earnest.

The title of the movie refers to a theatrical tradition that calls for a single bulb to remain lit on a stage even when the rest of the theater is literally (and figuratively) dark. The origins of this tradition are unknown; it may have emerged from basic safety concerns, but since theater has numerous superstitions, many of obscure origins, it may be only or primarily a symbol for luck.

The lines between life and art are creatively blurred, making some of the film’s scenes even more profound as they’re true to the film’s play and its protagonist. "Ghostlight" is about life, loss, poetry, art, understanding, and family. You can totally expect to cry, but I promise it will be worth it. (Rating 8.5/10)

 

WHAT ABOUT ME?

Micael

“I’m a trisexual. I’ll try anything once.”

 

Recently, I finished watching "Sex and the City"—the series, the movies, the whole thing. And although it might sound trivial, I wanted to bring this up today since I think we can get some good reflections from it.

I started watching "Sex and the City" mainly because of its cultural impact, but with the mindset that I'd probably find it outdated and sexist. And although Carrie's character might seem a bit outdated at times, I was pleasantly surprised by how current the show can be. It addresses issues of youth in the big city that are not only relevant but resonate deeply with me.

"Sex and the City" was a breath of fresh air for me when it comes to my perception of aging, ageism, and the idea that we have to be in a certain place at a certain stage of our lives. I can only imagine how groundbreaking it was twenty years ago to see a TV show that states it is totally okay and normal for a woman to be 35 and single, or without children. Even today, twenty years later, we still feel the constant pressure of society, family, and friends all starting to get engaged and create families while we are basically making do with rent and saving for our BRAT summer.

Now, with the new spin-off "And Just Like That..." where they show their lives as 50-year-old women in New York, the show has done this again. Don't get me wrong, we had TV shows like "Grace and Frankie" or even "Golden Girls" where the main characters were older women, but they were portraying old characters. Now, we have 50-year-old women portraying characters where their main characteristic is not being old, but just being adults with their own challenges, experiences, and first times. For me, it feels like it humanizes that age where you are not considered old yet, but you are too old to be considered a young adult.

Secondly, let's talk about singleness.

I am the single one in basically all my friend groups. In every circle—in Milan, in Brazil, in Australia, and around the world—I've always been the single one. I have friends in long-term relationships, friends who have had a few relationships, and even friends who are in a single phase of their lives, but I am the one who's always been the single one. And although I am super happy with my life, this position obviously comes with questions like "Maybe the problem is me?", "Should I settle to find someone?", and "Why not me?".

The most important lesson of "Sex and the City," or at least the one that stayed with me the most, is accepting that life might not be about finding your soulmate.

  • People might disagree with me since the whole show is based on Carrie trying to find a man and their main conversation is 80% about boys. However, if you look deeper, time and time again they declare that maybe the love they need is the love of their friends and not a romantic one, or that even if it doesn't happen, they wouldn't be less complete for that. Especially when you look at Samantha, who is the sex symbol and feminist of the group, stating time and time again that her goal is not to get married. Her story is her own and not the story of a couple who just happen to be single until they find each other. 

For me, it was so important to have the representation and reaffirmation that my life is 100% complete without anyone. Which is something that I might know in theory, but is not so well represented out there.

❝

I can count on my fingers the happy endings that didn't involve finding a romantic partner. 

"Sex and the City" initiated a conversation a long time ago that we are still debating nowadays. That maybe we should start considering happiness beyond the default mode on societal manual guide of how to live, marry, and find a family before it's too late.

With love,

Micael.

P.S: Should I start a sex column like Carrie? Would you guys read it?

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