The robots are here. And they are making you fries. Meet Flippy, Sippy and Chippy, the newest technology stepping in to address a protracted labor crunch in food service. (Washington Post)
Grapes, berries and robots: is Silicon Valley coming for farm workers jobs? The global ag-tech revolution has sped up in recent years, spurring a debate on how it will affect the workforce. (The Guardian)
Liquid Venture Capital: Venture capital has delivered great historical returns but is illiquid and hard to access. Fortunately, innovation does not occur only at venture-backed startups. We replicate venture capital returns using liquid small-cap public equities and find the underlying innovation premium also exists at large innovative firms. We also show that crypto tokens can provide a liquid complement to blockchain venture equity. (Sparkline Capital)
We don’t have a hundred biases, we have the wrong model: Behavioral economics today is famous for its increasingly large collection of deviations from rationality, or, as they are often called, ‘biases’. While useful in applied work, it is time to shift our focus from collecting deviations from a model of rationality that we know is not true. Rather, we need to develop new theories of human decision to progress behavioral economics as a science. Behavioral economics has identified dozens of cognitive biases that stop us from acting ‘rationally’. We need a new model: Heliocentrism. (Works in Progress)
What Canada’s Largest Art Heist Reveals about the Art World’s Shady Side: The stolen masterpieces have never turned up—and nobody’s really looking for them (The Walrus)
A Chinese Spy Wanted GE’s Secrets, But the US Got China’s Instead: How the arrest of a burned-out intelligence officer exposed an economic-espionage machine. (Businessweek)
How to give good news: The art of telling a prospect he’s going to the big leagues: Yet unlike the hidden ball trick or some of the game’s other relatively rare displays of chicanery, Kelly and minor-league managers use the same gag with regularity. Multiple times a year, those managers get to tell a player that he’ll soon be making his major-league debut. And every single time — sometimes with precious little notice, often in front of a room of players who keep one eye on any big-league openings — those managers do everything they can to make that moment surprising. (The Athletic)