Chronicle’s “e-edition”

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The SF Chronicle is promoting a digital version of the newspaper, an exact replica of the print newspaper, for $100 a year. Why the hell would I want a replica of a print newspaper on my computer? The whole point of using the web is that I can escape the inadequacies of print publications…

And c’mon guys… “e-edition”? Don’t tell me you pinned your future hopes and dreams on that.

Oprah Effect on Twitter

This interesting because Oprah has not historically delivered her dramatic offline “Oprah effect” with online services she featured on her talk show. What’s different about Twitter? Probably name recognition more than anything else combined with a general lack of understanding about what it is, so when Oprah endorsed Twitter a significant number of people who were timid about experimenting with Twitter decided that if it was good enough for Oprah it was good enough for them.

Share of US Internet visits to Twitter increased 24% on Friday, April 17, the day of Oprah’s first Tweet. Comparing visits with the previous Friday, visits were up 43%.

[From Hitwise Intelligence - Heather Hopkins - US: Oprah Effect on Twitter]

How Far We Have Come…

WASHINGTON - SEPTEMBER 19: A statue of the fi...

Following the Revolutionary War the first Treasury Secretary, Alexander Hamilton, proposed a then unpopular plan for the Federal government to take on the war debts of the states that were accumulated to finance the war against Britain. Hamilton’s genius was on display here, recognizing that for the Federal government to have real power it needed to have the power to finance large public debts and control a central currency (many different currencies were used in 19th century America). In effect, Hamilton’s plan was a cleverly disguised plot to consolidate power in the Federal government following a war whos very premise was a rejection of centralized and distant power… you have to admit that Hamilton was a man not prone to pragmatism.

The First Bank of the United States was chartered in 1791 and used to execute Hamilton’s war debt plan and almost immediately significant controversy developed as it was learned that his plan was gamed by his friends, politicians, and financial insiders who purchased state debts at pennies on the dollar and resold them to the Federal government for significant profit… how far we have come since 1791…

In a 250-page quarterly report to Congress, the rescue program’s special inspector general concludes that a private-public partnership designed to rid financial institutions of their “toxic assets” is tilted in favor of private investors and creates “potential unfairness to the taxpayer.”

[From Bank bailout may hurt taxpayers, be open to fraud - Yahoo! Finance]

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