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     Gary Millin and his company, World Accelerator, have taken venture capitalism to a new level with their intriguing business model. In addition to offering professional aid to enterprising entrepreneurs, Millin owns millions of dollars worth of domain names, that prospective companies can lease from World Accelerator, and use for themselves.
     Millin got into the business of domain names in the early days of the internet. It all started in the mid-90s, when Millin bought the domain mail.com along with investment banker Gerald Gorman at Harvard Business School. mail.com would reach billion-dollar valuations on the Nasdaq, and Millin found himself buying portfolios of generic domain names, including usa.com, doctor.com, and many others which have sold for upwards of a million dollars.
     Though you can no longer directly purchase domains from Millin, he has stayed true to his roots of venture capitalism, and genuinely seeks to use his resources to help startups success. Millin strongly believes that a domain can boost, and in some cases define a company's public image. Though he could potentially sell some of his domains directly for substantial amounts, Millin claims that he would "rather participate in the whole growth process", explaining that "if we can bet on a company and they get successful, that's more rewarding than saying 'hey, send me a check."
     While there are some who might take issue with the way Millin is seemingly hoarding these domain names, contradicting the ideal of a 'free internet', I admire Millin's opportunism, and the way he uses his stockpile of domain names to benefit small startups and businesses, rather than just profiting off them, or leaving them to rot. Nonetheless, Millin's case certainly brings up interesting questions about the concept of ownership on the internet, and while I personally see nothing wrong with what World Accelerator is doing on the marketplace, it may not be long before more intrusive monopolies come into play, and it will be interesting to see how a not-so-generous opportunist could monetize the industry were they in Millin's position.

Read more here

image: https://diybackpacker.files.wordpress.com/2014/01/macaupostcard.jpg

     Macau's reputation as the center of Chinese gambling is under threat after Chinese President Xi Jinping further increased pressure on anti-corruption and economic diversity. Especially threatened are the city's junket operators, whose rich clients are commonly accused of illicit business and agreements during their visits to Macau.
     In response to the pressure, David Group announced it would be closing 4 out of its 5 gambling rooms in Macau, after claims by Frank Ng that the company plans to move its business to the Philippines, Vietnam and South Korea, countries which have all entered the gambling industry relatively recently.
     However, there might yet be hope for Macau, as Ng describes the current conditions not as an ending, but as a hibernation until things improve.
     While David Group might be moving, reports show that China's gamblers aren't going with them, instead ceasing to gamble at all. Casinos in Manila and Vietnam have suffered disappointing revenues in their opening years, as they fail to attract visitors.
     Regardless, Macau's gambling revenue fell for the first time in a decade, leaving many to wonder whether this is a small bump for the industry that makes up over half of Macau's revenue, or the end of a global gambling empire.

     I personally would be sad to see the casinos go. Sure, some may argue that they've robbed Macau of its cultural identity, and replaced it with a corporate, modern environment, but I know that Macau is still the same place at heart as it was when I was young. I find that the casinos, mostly built on reclaimed land, do not dominate the local culture, instead changing it, adding a new, modernized dimension. I am sure that no local would claim that they do not enjoy the new shopping malls, restaurants, and global recognition that the gambling industry has brought, and the local shops and markets certainly benefit from the huge seasonal population increase that has flooded the area with Chinese money.
     Then again, maybe Macau wasn't made for this kind of huge, bustling industry. The shops and restaurants that I enjoyed as a child may still be there, but should development and construction continue at its current pace, I cannot see how these businesses will survive the competition for space and location.
     As a small economy, Macau could also easily become economically over-reliant on gambling, as some may argue it already has. It will be interesting how the Macanese government itself will respond to Xi Jinping's demand for diversification, and whether it will be possible at all to distance the economy from its gambling reputation.
     My greatest fear is that Macau will become a has-been, once-was city, its once-dazzling and vibrant skyscrapers decorating a deserted city that failed to adapt to the changing times and was left behind. Perhaps the construction of the HK-Zhuhai-Macau Bridge will cause the tourism to relapse, and Macau will return to its economic growth, but the volatility of the industry has already been demonstrated, and whatever happens, I just hope that Macau will remain recognizable as my childhood home.

My Grandmother's restaurant in Taipa Village image: http://i.yp.mo/kiulam/

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Forbes
Business Insider: 1, 2

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     On January 8, 2015, the National Highway Traffic Safety Administration released a report confirming that between 2003 and 2014, Honda failed to report 1729 death and injury claims to the NHTSA. In response to this, a fine of $35 million was levied on the company, along with an additional fine of $35 million for Honda's failure to report warranty and customer satisfaction claims over the same period.
     Among the incidents that Honda failed to report were accidents involving airbags made by Takata Corp in Japan. The airbags have been found to deteriorate under humid conditions. Additionally, customer complaints about seatbelts, unintended acceleration, and braking were all uncovered in the investigation.
     Honda is one of several companies which faces fines from the NHTSA this year, bringing light to the widespread secrecy and withholding of information that occurs on a regular basis. General Motors, for example, received a $35 million fine for failing to report a faulty ignition switch in their cars, while Hyundai received a $17.3 million fine for issuing what was deemed to be a late recall. These cases, and others, contribute to the $124 million in fines that the NHTSA has levied in 2014, more than it has ever issued in its existence.
     While this increase in consequences clearly displays a commitment to safety and honest business, it is interesting to see whether these fines will have any effect on the way automobile companies do business in the future. Perhaps the money and time saved by not reporting incidents, or issuing recalls outweighs the fines of the NHTSA, and more stringent punishments will have to be put into effect. It is the hope of the author that the fines will have their intended eff
ects, and that a cooperative relationship can be established between companies and their governing bodies, for the safety of consumers around the world.

More here

  

image: theage.com.au

     A new energy policy is taking effect in Queensland, Australia, lowering overall energy consumption costs, but massively inflating prices for energy services. Effectually, according to director of Country Solar Steve Madson, this policy has no effect on energy bills, and can even lower them, while simultaneously removing all economic incentive for consumers to install new solar systems.

     Madson's suspicion is based in precedent. Prime Minister Tony Abbott described climate change theories as 'crap' in 2009, and earlier this year, Australia became the first developed nation in the world to repeal their carbon tax, despite its effectiveness.

More here

     During the final weeks of Spring term '13-'14, I wrote a research paper for my chemistry class titled 'Chemical Enantioselective Synthesis: The Search for the Other Half.' Certain molecules have a property called chirality, which dictates whether or not the molecule has optical isomers. In essence, two molecules that are exactly the same, but are non-superimposable mirror images of one another, are optical isomers. d- and l- optical isomers (or enantiomers), reflect plane-polarized light in different directions.

     d- and l- enantiomers are crucial in the development of medicine and pharmaceuticals, because enzymes in the human body typically only interact with the d- enantiomer of any given substance. If a substance is administered in a racemic (half d-, half l-) mixture, the l- half of the substance might have undesirable side effects, or might just pass through the human body harmlessly. Therefore, enantioselective synthesis is a crucial process for pharmaceutical companies to manufacture controlled and safe medicines.

     Enantioselective synthesis is complicated, and feasible mechanisms are very difficult to discover. In the paper, I discuss some common synthesis methods, instances of marketed racemic mixtures that went awry, and detail the search for an efficient l-glucose synthesis. Since l-glucose is not absorbed by the body, it can be used as a zero-calorie alternative to d-glucose, the much more common enantiomer, and it has the potential to unlock more secrets of optical isomers.

     Here's the paper, I hope you enjoy it!

Enantiomers and Synthesis of L-Glucose.pdf

image: magpictures.com

     Blackfish, a documentary directed by Gabriela Cowperthwaite, was released in July 2013, and has recently enjoyed a surge of widespread acknowledgement, approximately one year after the film's initial release. The film focuses on an orca named Tilikum, who is one of the orcas living in Seaworld, and raises questions over the ethicality of keeping captive orcas.

     Despite the controversy, Seaworld has elected to keep its orcas (releasing them after having lived in captivity for so long might not be beneficial to the animals), and VP of Communications Fred Jacobs had responded to the movie in an interview with CNN, calling the film 'inaccurate and misleading.'

     Yesterday, (Aug. 13) Seaworld's stock fell nearly 33 percent after discussion surrounding Blackfish rose again on the internet. In addition, a piece of legislation called the 'Orca Welfare Safety Act' is pending while further studies are conducted, and could further hamper Seaworld's business, which CEO Jim Atchison had previously claimed was unaffected by the film. The question still remains whether this business disaster is truly justice for the orcas at Seaworld, or whether Seaworld really is just the victim of an 'inaccurate and misleading' documentary.

More here

     More information has come out recently regarding Uber's rivalry with hire-car service Lyft. Lyft claims to have evidence that Uber employees, including recruiters, have ordered and cancelled over 5500 rides on Lyft since last October. By linking accounts with large numbers of cancellations to phone numbers, Lyft claims to have unearthed a slew of accounts that in fact belong to just a few people, presumed Uber employees. One such user has been linked with 22 accounts, and is accused of over 1500 cancelled rides between the end of May 2013 and June 2014.

     This isn't the first instance of such tactics from Uber either. Earlier this year, Uber was accused of calling and canceling 300 rides on another competitor's app: Gett. In addition, Lyft drivers have reported frequent hires from Uber employees, who take short and low-profit rides, devoting time to convert them into Uber drivers. These questionable recruitment tactics have proven costly for Uber, as negative attention piles upon them, some customers are vowing to discontinue use of the app until their 'act is cleaned up.'  Only time will tell what, if there are any, the consequences will be.

More here 

image: siliconbeat.com

     Uber and Lyft, two companies responsible for the recent boom in the personal transportation sector, have continually fought for supremacy in the United States' growing on-demand taxi market. While Uber does have a $18.2 billion valuation (26 times higher than Lyft), Lyft CEO Logan Green has been doing his best to surpass Uber in new and creative ways. For example, Lyft has recently fitted its cars with pink mustaches (see image), in an effort to bolster its public image.

     However, it does seem as if Lyft has a long way to go if it wants to catch up to Uber. Uber has already expanded to 70 cities outside the United States (including Hong Kong, where I am from), while Lyft has yet to incorporate its services outside the US.

     Finally, the rivalry between these two companies is just another headache for both of them amongst restless protests from taxi drivers. By not implementing a physical 'fare meter', it seems as if Uber and Lyft have bypassed the regulations for taxi companies, sparking outrage in some communities. While Uber was recently declared legal in London, both companies still face legal challenges in the USA.

More on the rivalry (and a nice infographic) here.

Image: stocks.org

     In response to a planned bid by Sprint/T-Mobile for broadcast TV spectrum, Chairman of the FCC  Tom Wheeler proposed an antitrust plan which would prohibit bidding alliances between the largest mobile carriers in the United States. Wheeler's proposal would encourage competition from smaller carriers, and does not inhibit smaller carriers from forming partnerships with the larger companies: T-Mobile, Sprint, AT&T, and Verizon.
     Though the incentive behind the bill is clear and well-meaning, there is some concern that by suppressing cooperation between large companies, which theoretically would be able to provide the best product for consumers, the FCC is favoring competition over quality of service. How this proposal will affect the speculated T-Mobile and Sprint merger will become clear in the future.

Read more here.

     One of the end-of-year projects that has so frustratingly kept me away from this blog was a history paper. Having been given the freedom to do so, I sifted through years of civil rights cases and political trivia to find a topic that I was truly interested in: the Muckrakers. During the Second Industrial Revolution, corporations rose to prominence, exploiting an under-equipped legal system through unethical business practices and humans rights while the American government struggled to keep up with their rapidly industrializing country. The Muckrakers were reform journalists who latched on to these injustices and exposed the corporations through the fourth estate: the press.

     If any of what you have just read interests you, I encourage you to read on.

     'Ethics in business is important.' This was essentially the conclusion drawn from the first Asia Ethics Summit held last year in Hong Kong. Considering the setting, this result is somewhat unsurprising, but the panel has since gone on to elaborate on their decisions, regarding the differences in ethical business between the East and the West. Their elaborations have revealed some interesting insights into ethicality in the Asian marketplace, including risk management and problem assessment.

Read their insights here