The Myth of Car Ownership, a 0% Loan Experiment and Why PPT Is The Best Software Ever Made

Who Deserves To Eat At Noma?

In honor of a memorable few days dining at some of the most legendary restaurants of New Orleans, this week's first story pick is an article from a writer who had the chance to eat at Noma Copenhagen, one of the most renowned restaurants in the world. In it, he makes this observation: "the venn diagram of people who can afford to eat at Noma and the people who deserve to eat at Noma is small."

Perhaps eating a 15 course meal that costs upwards of $1500 for two is predictably going to create some feelings of unworthiness. As he goes on to write, it is "challenging to be present at Noma because the anticipation of going to Noma is sweeter than any fruit leather you'll eat while you're there." The five hour tasting menu from chef René Redzepi is so coveted the waiting list apparently has over 10,000 names on it.

The most fascinating part of this course-by-course recap, though, is the angst with which the writer examines every offhand comment he happens to make to the waitstaff about the food. Was it the wrong thing to say? Did he unintentionally offend? What is the right thing to say? Like any event where you might cross paths with a celebrity, such experiences come with their fair share of pressure to feel like you belong. Which makes it exciting for some and ruins it for others. I suppose the difference comes down to just how much you choose to focus on others instead of yourself.

The Subscription-Fueled Future of Car "Ownership"

Last year, Mercedes launched a feature in their electric cars that would allow drivers to pay $60 per month for an "Acceleration Increase" that would boost their car's acceleration speed by 1 second when going from zero to sixty. BMW announced (and quickly abandoned) their wildly unpopular idea of charging car owners $18 per month to use the heated seats in their car. The car is becoming a modern day battleground to define the future of ownership. What do (or should) you really be entitled to get when you buy a car?

A recent report from the Mozilla Foundation describes cars as a "data privacy nightmare" with every major car brand failing the Mozilla Foundation's recent test, prompting them to declare cars as "the official worst category of products for privacy." According to the report, cars collect way too much data and frequently fail to install even basic protection for this data. Even worse, 84% of car brands routinely sell user data without informing drivers and don't offer any way to opt out of this data collection.

When you combine this track record of terrible data security with aggressive efforts to monetize car features that used to come standard, there are plenty of signs we are headed toward a future where even the idea of car "ownership" may feel like a myth. All of which is making my 2009 Toyota Sienna look better and better.

Why Lenders Are Testing A 0% Loan Product For Emergency Expenses

Credit Unions have long been one of the most empathetic sectors of the financial industry in creating products that put people first. Now several are testing a 0% loan product that can help people who need short term cash infusions from $500 to $3000 to get a loan immediately and pay it back after 12 months without incurring any interest. To ensure they don't accidentally impact a borrowers credit rating, payments (whether on time or late) are not reported to credit bureaus and the entire product is wonderfully crafted with empathy for real people at the heart of it.

This is the type of innovation that would be amazing to see more often in the financial services industry. One that doesn't prey on vulnerable consumers but rather gives them a chance at financial relief from difficult circumstances without setting them up for long term servitude and debt trying to pay back the money. The college loans sector could use a product like this too.