Headlines 

Researchers Want to Link Your Genes and IncomeShould They?

The UK Biobank is the single largest public genetic repository in the world, with samples of the genetic blueprints of half a million Brits standing by for scientific study. But when David Hill, a statistical geneticist at the University of Edinburgh, went poring through that data, he wasn’t looking for a cure for cancer or deeper insights into the biology of aging. Nothing like that. He was trying to figure out why some people make more money than others. Along with a team of European collaborators, Hill sifted through the…

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Odds and Ends 

Payment service Toss becomes Koreas newest unicorn after raising $80M

South Korea has got its third unicorn startup after Viva Republica, the company beyond popular payment app Toss, announced it has raised an $80 million round at a valuation of $1.2 billion. This new round is led by U.S. firms Kleiner Perkins and Ribbit Capital, both of which cut their first checks for Korea with this deal. Others participating include existing investors Altos Ventures, Bessemer Venture Partners, Goodwater Capital, KTB Network, Novel, PayPal and Qualcomm Ventures. The deal comes just six months after Viva Republica raised $40 million to accelerate growth, and it takes…

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Odds and Ends 

Today in brighter crypto news: SEC says tokens are securities

Crypto news got a little boost last week after a dark month of crashes, stablecoins and birthdays. The SEC ruled that two ICO issuers, CarrierEQ Inc. and Paragon Coin Inc., were in fact selling securities instead of so-called utility tokens. “Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties,” wrote Pamela Sawhney of the SEC. “These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations.” From the release: Airfox,…

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Odds and Ends 

In venture capital, its still the age of the unicorn

Howie Xu At the time, the piece defined a new breed of startup — the $1 billion privately held company. When Lee did her first count, there were 39 “unicorns”; an improbable, but not impossible number.. Today, the once-scarce unicorn has become a global herd with 376 companies on the roster and counting. But the proliferation of unicorns begs raises certain questions. Is this new breed of unicorn artificially created? Could these magical companies see their valuations slip and fall out of the herd? Does this indicate an irrational exuberance…

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Headlines 

Heres How Much Money You Need To Buy Different Everyday Items In Venezuela (11 Pics)

Crisis-stricken Venezuela is currently in the grip of hyperinflation, the worst case seen since Zimbabwe in 2007-09. By the end of the year, the inflation rate is predicted to top 1 million percent, a staggering large number which the government have attempted to curb by slashing 5 zeros off of the national currency, the Bolivar, and introducing new notes. For some time there will be a mix of notes in circulation, leading to confusing situations about the true price of items and making transactions a nightmare, particularly for poor Venezuelans…

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Headlines 

iOS 11.3 update breaks iPhone 8 devices with third party-repaired screens

Software update disables touchscreen on 700-plus smartphones that have not had their screens repaired by Apple Apples latest iOS 11.3 software update is causing iPhone 8 devices with third-party repaired screens to stop working. Users who have had a screen repair performed by a third party, rather than with Apple, on their iPhone 8 smartphones found that the iOS 11.3 update stopped the touchscreen from working, turn off the slowing down of smartphones related to the battery the storm caused by the so called Error 53, which rendered iPhones useless…

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Headlines 

Sex for rent the rogue landlords who offer a free room in return for favours

As the housing crisis deepens, words such as intimacy and benefits are starting to appear in the to-let columns To the unaware, the true meaning of some of the phrases used on the ads for tenants could be missed. Rooms for rent are offered in exchange for benefits or keeping me company. Others are less subtle free accommodation in exchange for an erotic arrangement. Renting rooms for sexual favours is seen as a growing menace by campaigners, and a byproduct of a housing crisis where young people are unable to…

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Odds and Ends 

6 Things That Couldve Been Bought With The $1.5 Trillion The Government Spent Developing The F-35 Fighter Jet

Riddled with design flaws and completely unsuitable for combat, the massively expensive F-35 fighter jet is just the latest staggering example of out-of-control government spending. Here are some other things that could’ve been purchased with the $1.5 trillion that the F-35 cost to develop. 1. 1.7 billion M27 tactical assault rifles While the government is dead set on continuing to fund the F-35, our nuclear stockpile is falling into disrepair. At a refurbishment cost of just $20 million per bomb, we could’ve used the $1.5 trillion to revitalize our crumbling…

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Odds and Ends 

Researchers find that one person likely drove Bitcoin from $150 to $1,000

Researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman have written a fascinating paper on Bitcoin price manipulation. Entitled “Price Manipulation in the Bitcoin Ecosystem” and appearing in the recent issue of the Journal of Monetary Economics the paper describes to what degree the Bitcoin ecosystem is controlled by bad actors. To many it’s been obvious that the Bitcoin markets are, at the very least, being manipulated by one or two big players. “This paper identifies and analyzes the impact of suspicious trading activity on the Mt. Gox Bitcoin…

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Headlines 

A basic income for everyone? Yes, Finland shows it really can work | Aditya Chakrabortty

Trials suggest it can liberate jobless people, says the Guardian columnist Aditya Chakrabortty In a speck of a village deep in the Finnish countryside, a man gets money for free. Each month, almost 560 (500) is dropped into his bank account, with no strings attached. The cash is his to use as he wants. Who is his benefactor? The Helsinki government. The prelude to a thriller, perhaps, or some reality TV. But Juha Jrvinens story is ultimately more exciting. He is a human lab rat in an experiment that could…

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Headlines 

World’s witnessing a new Gilded Age as billionaires wealth swells to $6tn

Not since the time of the Carnegies, Rockefellers and Vanderbilts at the turn of the 20th century was so much owned by so few The worlds super-rich hold the greatest concentration of wealth since the US Gilded Age at the turn of the 20th century, when families like the Carnegies, Rockefellers and Vanderbilts controlled vast fortunes. Billionaires increased their combined global wealth by almost a fifth last year to a record $6tn (4.5tn) more than twice the GDP of the UK. There are now 1,542 dollar billionaires across the world,…

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Odds and Ends 

Its Your First Day On Wall Street

This feature requires JavaScript to function. Buy money. Do stocks. Learn about how stocks happen. Nice call. Should we hit the trading floor, then, or would you like to diversify your portfolio first? Or perhaps you’d like to learn a little about how stocks work? Diversify portfolio. Bet big! Shout! Go home. Yes! You’re doing it! You’re winning all of the money! Go do cocaine. Go home. Hahaha! This is so fun! Go to trial. Guilty. The court agrees that you are guilty. Now, it is time for sentencing. Receive…

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Headlines 

Monarch Airlines collapse: UKs biggest peacetime repatriation under way

Civil Aviation Authority says it is taking action to get 110,000 people back to UK, with 300,000 future bookings cancelled The UKs biggest peacetime repatriation is under way after Show Hide What happens with Monarch Airlines now? Monarch hasgone into administration after failing to gain a renewal of its Air Travel Organisers Licence(Atol) from the Civil Aviation Authority. This meant it was no longer able to sellAtol-protectedholidays from midnight on Monday and, accordingly, it announced it had appointed KPMG as liquidators. The CAA hastaken over Monarch’s websiteand the Department for…

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Headlines 

My daughter blew through 1,200 intwo weeks at university

Shocked that her student daughter seemed to need an income of 600 a week, Anthea Rowan decided to turn off the money tap and lay down some home truths about entitlement and growing up A few years ago, my undergraduate daughter called me two weeks into the term. Hey, Ma, Ive run out of money, she trilled cheerfully. The intimation was clear: it was her mothers job to fix this little glitch. By money, she meant her entire terms student maintenance allowance of about 1,200. Gone. In 14 days. I…

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