You’ve Been Left Behind – Another niche offering, online: a service that will, after the Rapture, deliver a final message to those who weren’t pulled up to the sky. The name is a bit misleading: “you” refers not to the customers but to those who the customers are reaching out to.

Q:How are the emails sent out after the rapture if you are all Christians?

A:I have a team, of Christian couples, scattered around the U.S. 4 active couples and one alternate. One of each, of the active couples, are required to log into the system everyday. They are scattered to protect us from having the team wiped out by attack, natural disaster, or epidemic. They are couples in case one is sick, injured, killed, and to assure their walk with God. If they (3 out of 4) fail to log in for 3 days the system figures the Rapture has taken place. There are then notices sent out to each of us daily, for 3 more days, warning us we must log in to prevent the sending of documents. If, we do not, then the system sends out all of the stored data to all of the email addresses. There is one alternate team member to ready as a replacement for a lost teammate. Also one team member is located near enough to the server bank, with access, in case the net goes down, or malfunction.

Trade in Pork Bellies Comes to an End, but the Lore Lives – Like seeing the obituary of someone you thought was already dead, there’s a bit of a surprise here that pork bellies really are a thing (well, if you dine out fancy, you already know that), and they are a thing that actually does get traded. Or used to.

When the Chicago Mercantile Exchange announced the other day that pork belly futures would no longer be traded, it was hardly a shock. Trades had shrunk to almost nothing. Volatility was too much. The frozen bellies, used to make bacon, were, in the view of some, losing relevance.

Pork bellies have long held a puzzling mystique to the public. Experts in the field offer a range of sometimes conflicting explanations: everybody likes bacon; the word “belly” sounds funny; no one actually knows what a pork belly is. Whatever the reason, pork bellies pop up in an inordinate number of references in magazines, popular culture and movies, like “Trading Places,” the 1983 film in which Eddie Murphy’s character used pork bellies to explain, in unforgettably bare terms, how a market works.

• 'Magic Fingers Vibrating Bed' inventor dies at 92 – The inventor of the "Magic Fingers Vibrating Bed," which brought weary travelers 15 minutes of "tingling relaxation and ease" for a quarter in hotel rooms across America during its heyday as a pop culture icon in the 1960s and '70s, has died.
• Vending machines for Gold? – While it's just a plan at this point, it seems that the idea is more about disruption and promotion than simply "vending."
• Let’s Embrace Open-Mindedness – My article published at Johnny Holland, considering the challenges in living up to the standard we set for ourselves. And there's a story about cheese, too!
• Why some cultural products and styles die out faster than others – To investigate how cultural tastes change over time, Berger and Le Mens analyzed thousands of baby names from the past 100 years in France and the US. (Because there is less of an influence of technology or advertising on name choice, baby names provide a way to study how adoption depends on primarily internal factors.) The researchers found a consistent symmetry in the rise and fall of individual names; in other words, the longer it took for a name to become popular, the longer it took for the name to fade out of popularity, and thus the more staying power it had compared to names that quickly rose and fell. The effect was robust, occurring in both countries and across various time windows.

  According to the results, the quicker a cultural item rockets to popularity, the quicker it dies. This pattern occurs because people believe that items that are adopted quickly will become fads, leading them to avoid these items, thus causing these items to die out.

  (via Lone Gunman)

This piece in the Financial Times about how anthropology is important to understand the behaviors of bankers is well-timed and relevant (if indirectly related) to the story of Société Générale’s Jerome Kerviel, the rogue trader.

For one thing that anthropology imparts is a healthy respect for the importance of micro-level incentives and political structures. And right now these issues are becoming critically important for Wall Street and the City, as the credit crunch deepens by the day.
…
But what is crystal clear is that if you want to understand which banks will emerge as winners from the current mess, it is no longer enough to look at their computer systems and balance sheets. Now, more than ever, investors need to understand a bank’s culture too – and the degree to which it is tribal.

We just wrapped up our second study of traders and it’s really gratifying to see this column. Traders, as a profession, have a lot of strong character traits (humor, macho/aggression, social) and much of their work is competitive and manipulative. The tools they use are pretty straight transaction machines, though, that don’t reflect the complex layers of intention that are driving everything the trader does. The only product that seems to echo or reinforce trading culture is the Bloomberg terminal which, in addition to all the data-oriented tracking and graphic capabilities, also offers an IM/email/Facebook-like platform to a closed, consistent, and co-located (The City in London, Wall Street in New York, and other neighborhoods in major financial markets) community.

There’s enormous potential for the other software tools used by these traders to similarly match their offering to the dynamic culture of their users. It’ll require these vendors to take a fresh look at how their products can really bring exceptional value to the people who make their living with them. Failure to understand and design for these folks will undoubtedly lead to more stories like the current scandal.

SocGen (as it’s known by people in the industry) in London (actual fieldwork photo!)

A new Krispy Kreme located in the heart of London’s The City (the financial district) gives away free boxes of donuts, causing a run

FT story via antropologi.info

The photo is definitely quaint but still matches our iconic image of how trading (whatever that is; most of us have little understanding of the mechanics of markets or the activity of trading). Maybe we picture men in jackets with numbers on ’em, holding phones and throwing pieces of paper and yelling and yelling. But that era has disappeared as technology has eliminated the need for a central place. Trading takes place in distributed facilities, owned and operated by “banks” (including Morgan Stanley et al) not in centralized facilities owned and operated by exchanges. The Chron today considers the history of the exchange in San Francisco, now a gym.

A 1999 article in The Chronicle reported that only about 5 percent of the 17.5 million shares traded daily there involved personal interaction on the exchange floor.

The romance was ending. Warren Langley, president and chief operating officer of the exchange from 1996 to 1999, wrote in an e-mail that those who had devoted their lives to the exchange “really were in pain as the world of technology and telecommunications made floor-based exchanges obsolete (and made the value of their jobs go away).”

In 2001, the exchange announced a merger with the electronic marketplace corporation Archipelago, eliminating the need for brokers to interact face to face, and sold the trading floor in 2002.