Search Results for: business

Shady Numbers And Bad Business: Inside The Esports Bubble

Longreads Pick

“There’s big money in esports, they say. You’ve heard the stories. Teenaged gamers flown overseas to sunny mansions with live-in chefs. The erection of $50 million arenas for Enders Game-esque sci-fi battles. League of Legends pros pulling down seven-figure salaries. Yet there’s a reason why these narratives are provocative enough to attract lip-licking headlines in business news and have accrued colossal amounts of venture capital. More and more, esports is looking like a bubble ready to pop.”

Source: Kotaku
Published: May 23, 2019
Length: 32 minutes (8,095 words)

How to Move a Masterpiece: The Secret Business of Shipping Priceless Artworks

Longreads Pick
Source: The Guardian
Published: Mar 21, 2019
Length: 22 minutes (5,656 words)

The Coffin Business Is Booming in Central America Due to Gang Violence

Longreads Pick

How the Pacheco family business pivoted from bread baking to burying bodies in El Salvador, which has the highest murder rate per capita on the planet, “enough for the World Health Organization to classify it as an epidemic.”

Published: Mar 6, 2019
Length: 11 minutes (2,774 words)

Longreads Best of 2018: Business Writing

We asked writers and editors to choose some of their favorite stories of the year in various categories. Here is the best in business writing.

Max Abelson
A reporter on Wall Street for Bloomberg News, where his work often goes in Businessweek. His stories were included in Columbia University Press’ Best Business Writing anthologies in 2015 and 2013.

Sign Here to Lose Everything (Zeke Faux and Zach Mider, Bloomberg News and Businessweek)

Good investigative journalism can leave you with that curdled taste of outrage in your mouth, but only great journalism can introduce the world to a whole new kind of loan sharking. And it takes something really splendid to jump from a millionaire city marshal to a gangster named Jimmy Dimps, a Maltese Shih Tzu named Coco, a town called Canandaigua, a drug smuggler named Braun, actual piles of cash, bloody vomit, and 30,000 court cases. Faux and Mider’s work is the best I’ve ever read on predatory lending.

A Business With No End (Jenny Odell, The New York Times)

My favorite story on commerce of the year has more in common with the dreaminess of the nuclear sequences from Twin Peaks: The Return than the everyday stock charts on CNBC. In one sense it’s a story about absolutely nothing, if you consider that the news peg is basically some packages that started arriving at someone’s house one day. But it’s also a story about everything — Christianity, con artists, bookstores, the Internet, real estate, obsession, startups, copyrights, maps, and moisturizer. I was very sorry when it was over.

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How the U.S. Systematically Puts Black Farmers Out of Business

Sebastian Kahnert/picture-alliance/dpa/AP Images

As if farming wasn’t difficult enough, with the physical exhaustion, expensive equipment, and unreliable weather, racist lending policies continue to winnow away the number of black sugarcane growers in Louisiana. Only 2 percent of farmers in the U.S. are black. In Iberia Parish, Louisiana, the number of black farmers decreased by 44.7 percent between 2007 and 2012. For The Guardian, Debbie Weingarten focuses on one of those families, the Provosts, and how racist lending policy and outright intimidation put them out of business. What redlining was to black home ownership, racist loaning practices are to black farmers. But in sugarcane it’s deeper than that, because American sugarcane farming began as a plantation system that both used enslaved black workers and worked to sustain the racist social hierarchy through beatings and lynching. You can see the effects in the Provosts’ fields, which now belong to a bank.

In 2008, June’s second season farming on his own, the sugarcane production cost was $615 per acre. But June [Provost] was only loaned $194 per acre. After weeding and fertilizing, he had little left to repair or purchase equipment. By fall, he could barely afford to pay his workers, let alone plant new cane for future production.

The Provosts argue that First Guaranty Bank and the United States Department of Agriculture (USDA) approved years of unfeasible loans that were too small for the scale of June’s production and dispersed too late in the season – and that when he failed, they collected on his collateral.

Such lending discrimination, Angie argues, can be observed just by looking at the fields around south Louisiana. By summer, white farmers’ fields are well-drained, weed-free, laser-leveled, whereas black farmers’ fields are overrun with Johnsongrass, a noxious weed – visual proof, says Angie, that black farmers are provided fewer resources than white farmers.

“You have to see it as a giant web, and every time you move in one way, it pulls you back in another,” says Hank Sanders, an attorney who is regularly involved in strategy with the Provosts’ legal team. “White supremacy is such a powerful thing … and it manifests itself in these various entities and institutions.”

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Inside the Very Big, Very Controversial Business of Dog Cloning

Longreads Pick

“Barbra Streisand is not alone. At a South Korean laboratory, a once-disgraced doctor is replicating hundreds of deceased pets for the rich and famous. It’s made for more than a few questions of bioethics.”

Source: Vanity Fair
Published: Aug 7, 2018
Length: 17 minutes (4,352 words)

Why Is Northern Mexico’s Thriving Resale Clothing Business Illegal?

AP Photo/Julie Jacobson

Americans bury 21 billion pounds of clothing in landfills each year. That’s sick. Soil and water are used to grow cotton, which gets treated with poisonous herbicides and pesticides, only to bury it back in the ground? For Racked, Eileen Guo reports from Southern California about Mexico’s secondhand clothing economy that has developed around American excess.

A large portion of Goodwill clothing ends up in discount bins in a warehouse a mile north of the US-Mexico border, at what Guo calls “the end of the nonprofit’s supply chain.” There, Mexican citizens buy them at low prices to sell back in Mexico, sometimes at specialized resale stores, often at open-air markets and online. This system is certainly better than burying clothes in a landfill; people can use them and make a living. Unfortunately, the practice is illegal, because Mexico’s textile industry and manufacturing interests say the used clothing trade competes with their legitimate business. In response, enterprising people have created an elaborate system for smuggling the contraband that should not be contraband and making what is truly an honest living.

This is because Mexico’s protectionism of its clothing makers isn’t just targeted at the used clothing trade. When China entered the World Trade Organization in 2001, the Mexican government imposed tariffs of up to 1,000 percent on Chinese goods, which ultimately decreased to 20 percent by 2011. And it wasn’t until 2012 that “affordable” fast fashion brands like H&M, Forever 21, and Gap arrived in the country. Even then, they were still out of reach of most shoppers both because of their location (only in Mexico City) and prices (for example, 69 pesos or $5.30 for a pair of boxer briefs, far too expensive for 2012’s annual household per capita income of $3,358.29.)

So along with American guns (much easier to buy in the US given its lax gun laws), California weed (higher-quality than Mexican marijuana, following legalization), and auto parts (legal, but often undeclared to avoid paying high customs duties), secondhand clothing cannot just cross the border; it must be smuggled.

Forced underground, the used clothing trade thrives as one of the “weapons of the weak,” as anthropologist Gauthier describes “the things that people do to just survive under conditions of economic exploitation.”

All along the border, this is done through ant trading, a process by which small volumes of contraband are brought over the border to avoid suspicion or, at the very least, mitigate the risk of confiscation if caught.

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Struggling to Balance Business and Conservation in the Amazon Basin

AP Photo/Andre Penner, File

Many nations have turned their natural resources into riches. Canada and the US liquidated their old-growth forests and plowed their prairies to build themselves into global economic powers. Brazil wants to do the same. Its massive Amazon basin is the world’s last terrestrial frontier. Its tropical rainforests contain 15% of the earth’s species, filter one-fifth of the planet’s rainfall and so much carbon that they play a key role in regulating the earth’s climate. They also offer enormous opportunities for logging, ranching and agricultural development, so how can Brazil serve these contradictory ambitions to develop and protect the Amazon?

For The Globe & Mail, journalist Stephanie Nolen and photographer Aaron Vincent Elkaim drove 1,200 miles on a single road, BR-163, to talk to the people who live in the Amazon, the police who chase its illegal loggers and miners, a politician fined for cattle grazing, and the villagers caught in the crossfire. Deep reporting and crisp photography show what this complicated green land looks like not from above the green forest canopy like so many familiar aerial shots, but on the ground. What Nolen finds is the complicated ways Brazil’s global ecological responsibility falls to not just of politicians and law enforcement, but to the farmers, ranchers, and illegal land speculators who cut the rainforest to capitalize on it. In a very real way, climate change has forced many Brazilians to recognize that they are not only citizens of Brazil, but citizens of the world who can no longer simply act according to their own economic ambitions. So some Brazilian leaders say they want to control illegal deforestation, and they discuss how to incentivize forest conservation while allowing development. As one soy farmer put it: “It’s not just me who needs to breathe fresh air – it’s the whole world. But the world can’t overload us, producers, with this responsibility. We need to share some of this responsibility with society as a whole.” That’s a challenge as big as the Amazon, and not everyone feels hopeful about the prospects. How could you when certain districts have a single agent to patrol 2.5 million acres of forest?

Ms. Ferreira spoke simply and gently as she explained the charges to Mr. Lima, the head of the small group of miners; Mr. de Jesus helped him ink his thumb to sign the charge sheet he couldn’t read.

“Did you know this was Jamanxim Forest and you can’t mine here?” she asked Mr. Lima.

“No,” he replied, “I never heard that.” He was standing with one foot on an old wooden sign that identified the area as protected; he couldn’t read that, either.

“The government speaks pretty words about protecting the forest – but we will lose 50 per cent of our budget next year,” said Mr. Fucks. “We need [more] employees and three times as many vehicles. We only have what we do because foreign governments donate them … We’re losing. But if we had three times as many people, we could win.”

Ms. Ferreira, peeling off her bullet-proof vest at the end of the day, questioned whether beefing up their ranks would really make a difference. The most powerful politicians in Novo Progresso, she pointed out, own the farms inside the forest. “If the punishment was serious – if the law applied here … Even if we had 100 vehicles and all these people, it wouldn’t fix it. Because it’s politics.”

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Longreads Best of 2017: Science, Technology, and Business Writing

We asked writers and editors to choose some of their favorite stories of the year in various categories. Here is the best in science, tech, and business writing.

Deborah Blum
Director of the Knight Science Journalism program at MIT and author of The Poisoner’s Handbook

The Touch of Madness (David Dobbs, Pacific Standard)

A beautifully rendered exploration of the slow, relentless creep of schizophrenia into the life of a brilliant graduate student, her slow recognition of the fact, and the failure of her academic community to recognize the issue or to support her. Dobbs’ piece functions both as an inquiry into our faltering understanding of mental illness and our cultural failure to respond to it with integrity. It’s the kind of compassionate and morally-centered journalism we should all aspire to.


Elmo Keep
Australian writer and journalist living in Mexico, runner-up for the 2017 Bragg Prize for Science Writing

How Eclipse Chasers Are Putting a Small Kentucky Town on the Map (Lucas Reilly, Mental Floss)

Anyone willing to write about syzygy in the shadow of Annie Dillard’s classic 1982 essay “Total Eclipse” has balls for miles. Reilly’s decision to focus on the logistics faced by tiny towns preparing to be inundated by thousands of eclipse watchers was inspired. It brilliantly conveyed the shared enthusiasms that celestial events animate in us. Between these two essays, I’m convinced a total eclipse would be a psychic event so overwhelming I might not survive it. I’ve got 2037 in Antarctica on my bucket list — if it’s still there in twenty years.    Read more…

Business Is Booming for America’s Survival Food King

Longreads Pick

By capitalizing on the growing unease about our unstable world, Wise Co. is expanding its business to average Americans and stores like Walmart. The logic: if you have a flashlight and first-aid kit, shouldn’t you stockpile some Mylar food pouches, too?

Published: Dec 22, 2017
Length: 12 minutes (3,167 words)