🐤 Shiver my timbers!

🏦 Markets: Wall Street was closed for the first day of the year, but there’s plenty of speculation regarding what 2024 has in store for the stock market.

Some analysts, like perennial pessimist Harry Dent, say this year could bring about a bigger crash than we’ve seen in generations. But a look at historical trends suggests there could be even more good news coming.

For example, over the course of more than 50 years, each time there was a recovery for the Nasdaq Composite (as there was in 2023), the index gained an average of 19% more during the following year.

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As we get situated in 2024, it’s obvious how much our society has changed over just the course of the past decade or so. But when we look much further back into history, it’s difficult to accurately imagine what life was like.

Art meets reality

We’re all vulnerable to sensationalized or wildly embellished depictions in popular culture that can give us a false sense of various periods. And one of the most notable examples involves the experience of living aboard a pirate ship in the 17th century.

Sure, the “Pirates of the Caribbean” franchise might not come across as a documentary, but it reflects a lot of the assumptions many people have based on other, seemingly more accurate accounts.

That’s why historian Rebecca Simon researched her latest book, focusing on the “pirate’s code,” by studying historical biographies and reports … even though she acknowledged that these were also often “largely fictionalized.”

Obeying the rules

She came away with a clear belief that, unlike the carefree criminals we often see depicted in books and on screen, actual pirates understood the need for a clear set of guidelines.

“You had to be very organized,” she said. “You had to have very specific rules, because as a pirate you’re facing death every second of the day — more so than if you are a merchant or a fisherman or a member of the Royal Navy.”

Simon noted that a well-run pirate ship had all the earmarks of a functioning community with everyone serving a specific role and expecting to be treated (at least by the standards of the time) fairly.

Breaking the rules could lead to punishment, but it was up to the entire crew to decide on a just penalty. And if the captain got out of line, pirates could vote him out.

The rapid rise in artificial intelligence has sparked concern about its potential to replace millions of jobs around the world within the next few years. And one profession that seems to already be directly threatened by AI is one that hasn’t been around that long.

Under the influence

Since almost everyone spends a considerable portion of their day on social media, it is only natural that this has become the home for a new type of product promotion and advertising. Influencers have been able to leverage their respective audiences to get money from brands who want to feature their products and services.

So far, that’s worked out pretty well for celebrities as well as ordinary folks who are just particularly good at cultivating a social media following. But the latest trend in AI signals some trouble ahead.

Meet Aitana Lopez

At first glance, the pink-haired woman sharing her perspective from inside a home or at an event might not be distinguishable from any number of other influencers. But there’s a big difference: Aitana Lopez is just a sophisticated code developed by a tech agency headquartered in Spain.

She might not be real, but her appeal certainly is.

• Aitana has more than 200,000 followers across her social media profiles.
• Brands like Victoria’s Secret have called on her to promote their products.
• A single feature on her page can cost as much as $1,000.

It’s just the beginning

Many other companies are entering this “virtual influencer” space, essentially allowing a robot to do all the work while commanding big bucks from advertisers. And with $21 billion up for grabs, this industry remains ripe for the picking.

For the actual humans who have dedicated their lives to building an engaged audience, however, this represents a potentially endless stream of new competition.

Let’s get something out of the way immediately: Inflation has been a huge burden to folks from all walks of life in recent years, making it difficult to afford life’s necessities.

But despite it all, last year was filled with some pleasant surprises for blue-collar workers, many of whom are entering 2024 in a much better position than a year ago.

The union factor

One major reason so many Americans made substantial gains during 2023 was the impact that strikes (or threats of strike) played in contract negotiations across multiple industries.

• More than half a million workers took part in a strike last year.
• Autoworkers secured several important concessions from the Big Three automakers.
• Hollywood writers and actors scored protections during their months-long strike.

Despite pushback from the corporations themselves, unions were also able to gain a foothold in other workplaces, including a number of Starbucks locations.

Workers have felt empowered since widespread labor shortages emerged during the pandemic shutdowns, and that helped fuel the unionization efforts behind some of the gains achieved over the course of the past 12 months.

Economics 101

Of course, none of these strikes would have been successful if not for the robust economic landscape that defied most predictions. As 2023 began, analysts far and wide said it was only a matter of time before the unemployment rate started to spike and the U.S. would be mired in a recession.

But those forecasts haven’t come true. Instead, the jobless rate has remained at historic lows not seen in nearly 60 years and the broad middle class has largely reaped the rewards.

None of this should suggest that the rich aren’t still getting richer off the work of blue-collar Americans. Nevertheless, 2023 offered some hope that a rising economic tide will lift all boats.

🏈 On to the finals: A pair of College Football Playoff semifinal games to kick off 2024 paved the way for the national title game scheduled for next Monday. Top-ranked Michigan took on #4 Alabama in the Rose Bowl, followed by a Sugar Bowl that matched up #2 Washington and #3 Texas. The winners were Michigan (in overtime) and Washington, respectively, and the top two teams are now on track to face off in Houston for the season’s big game.

🇯🇵 Japanese tremors: A massive earthquake led to widespread destruction across much of western Japan’s Noto peninsula early Monday. According to reports, the quake registered at a 7.6 magnitude, resulting in fires, power outages, tsunami warnings, and structural damage. A tally of casualties had not been confirmed as of the most recent updates available. Still, authorities said there were “numerous” accounts of individuals who had been trapped under rubble or otherwise injured.

📉 Homicide stats: There has been significant discussion about crime in communities across the U.S. in recent years. While some statistics have been moving in the wrong direction, 2023 saw far fewer of the most serious crimes. An early assessment from the firm AH Datalytics found that the past year likely recorded the sharpest decline in the homicide rate of any year on record. Nevertheless, 77% of respondents in a recent poll said they believe the overall crime rate will increase in 2023.

💊 Blue pill backlash: In the years since Viagra came on the market, it has sparked a continuous interest among men (and their partners) in restoring that, shall we say, special spark. Despite the fact that it’s a prescription drug, some dubious retailers have found ways to sell it directly to consumers. That’s what the FDA found after it purchased “Mens Maximum Energy Supplement” via Amazon and investigated its main ingredient, which was determined to be the same drug as Viagra.