It is said that we have now moved from the information economy into the attention economy. The concept of the attention economy emerged gradually through several waves of thinking. It was first articulated in 1971, when it was said that “in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its…
There are 116,873 hotels & motels in the US as of 2025, an increase of 4.0% from 2024. Additionally, the U.S. has over 55,900 lodging properties, including over 33,000 small business properties, with about 40% of US hotels being independent rather than chain-affiliated. The United States also leads the world in Airbnb listings, boasting around 2.25 million active properties. This makes the U.S. by far the largest market for Airbnb globally. For context, France follows…
I love all those expressions about the randomness of life. There’s “Feast or Famine”, “When it rains it pours”, “Life is what happens when you’re busy making other plans”, “Man plans, God laughs”, “The only constant is change”, or “Life is like a box of chocolates – you never know what you’re gonna get”. Sometimes these passages have a positive and optimistic spin and sometimes not so much. Sometimes you have to “Roll with the…
There is one thing that Donald Trump is not and that is subtle. We often talk about politicians being so vague that they speak on and on without saying anything, and that is no accident. Being obtuse in a political skill that has its roots in survival instinct. Who doesn’t remember comedian and politician, Senator Al Franken of Minnesota being trolled and forced to resign his senate seat during the early days of the Me…
I’m sure you remember when you were a kid that someone in your family would make a comment about eating your dinner as served to you on your dinner plate. There were the usual, “What about the starving kids in Europe?” comments that were popular after WWII for a few years. That would get complemented in the sixties by the wise-ass kids at the table asking with tongue-in-cheek, “Yeah, but what’s about the youth-in-Asia (euthanasia)?”…
I’m in New York City this morning having arrived here at the Cornell Club about 12 hours ago. I was out of the air condition cab and had to walk about 10 feet to the air-conditioned lobby of the club and I must say I was surprised at how how hot and humid it was for that few seconds that I was outside. It was a good reminder of just how muggy it can get…
The other day I read a piece about the supposed consequences of electing Zohran Mamdani as mayor of New York City, a notion that has gripped the financial press for a few weeks now. I even saw a post from my favorite financial writer, Bill Cohen, that stated that his conversations in the market indicated that Wall Street was far less worried about the U.S. bombing Iran than they were about Mamdani winning the Democratic…
The other day I read a piece about the supposed consequences of electing Zohran Mamdani as mayor of New York City, a notion that has gripped the financial press for a few weeks now. I even saw a post from my favorite financial writer, Bill Cohen, that stated that his conversations in the market indicated that Wall Street was far less worried about the U.S. bombing Iran than they were about Mamdani winning the Democratic…
One way to tell old school people from new age people is to watch what they do at Starbucks when its time to pay. It used to be that we would roll our eyes when someone used a card to pay for a coffee. It felt like that person was skating on thin financial ice, putting something as small as a coffee on a credit card. Of course it could have been a debit card,…
The year I started working after business school, 1976, ABBA released their hit song, Money, Money, Money with the tag line, “It’s a rich man’s world.” I recently read that in the clamber to build out AI capabilities as quickly as possible, the expanding array of AI companies, ranging from the monster tech companies like Microsoft, Google and Meta, as well as the start-ups like Safe Superintelligence (SSI) that are popping up like mushrooms after…