The Trigger for American Recycling

Change is hard. Making change happen even harder.

Looking for the origins of change fits in with my questions of how things used to work three or more generates ago, and my general search for hidden assumptions.

I was thus delighted today when I flipped on the Planet Money podcast, Episode 925: A Mob Boss, A Garbage Boat and Why We Recycle.

I was in high school living in suburban New York when this story was in the news. We didn’t recycle back then. It wasn’t a “thing” yet. Then by the time I graduated college and moved to Seattle, it was normal.

Before today I hadn’t wondered how that change happened. Apparently, according to NPR, the six month sage of this barge full of garbage was a key trigger that got the country talking about garbage, landfills, and where our waste ends up.

Many of the everyday details in The Work of the Stock Market told in between the history facts are often just as interesting as the history itself. Case in point, if you read the history of time zones, it seemed like the standardization was complete in the U.S. and Europe by the end of the 1800s. Yet in 1922… The difference in time between London and New York is four minutes and one second...

The standard structure for private equity funds (and venture capital funds) is “2&20”, as in a 2% management fee (±1%) and 20% (±10%) of the profits, a.k.a. “carried interest“. Why 20% of the profits? Henry Kravis of KKR explains below, starting at 6:00. TL;DR: Necessity, as he and his partners had no capital to put at risk. Share this:Click to share on Twitter (Opens...

Why did New York need another stock exchange in 1968? Why was the New York Stock Exchange, American Stock Exchange, and Pacific Stock Exchange insufficient? An unprecedented bull market coupled with paper-based systems. I’m in my 50’s and don’t remember “Wall Street” not having both the NYSE and NASDAQ as the two main exchanges. I am old enough to remember the AMEX...

Ars Technia published a lovely history of the changes in market leadership in computers, tables, and smartphones. My takeaway is another reminder of how much more difficult foresight is than hindsight. Especially when I was reading the prospectus to the Apple IPO, where the risks were about the TRS-80, Atari 400, Commodore PET, and other competitors of the day. We all think of Apple today as a...

I always through the company name Intel was a just the first five letter of “intellegent” or “intellegence”. Wrong. It’s a portmanteau of INTegrated ELectronics. This was one of the many tidbits of knowledge that have shown up in The Snowball, the “other” biography of Warren Buffett. Turns out Warren had the opportunity to invest $100,000 into the initial...

The Trigger for American Recycling

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