August 21, 2015
Perhaps the greatest polo player ever, Adolfo Cambiaso is planning to compete on a pony that died nearly a decade ago—a clone of his beloved stallion Aiken Cura. With more than 25 replicas of champion horses now in existence, Haley Cohen explores how the science came to polo. ... Aiken Cura is one of a number of horses that Cambiaso has duplicated. Through their company, Crestview Genetics, Cambiaso and two wealthy polo enthusiasts—the founder, Texan Alan Meeker, and Argentinean tycoon Ernesto Gutiérrez—have created more than 25 clones of Cambiaso’s champion polo horses and around 45 clones in total. Some are already breeding, and a few others began to play in top tournaments last year. Since the company’s establishment, in 2009, the partners have cloned not only for themselves but also for other international polo players who are willing to shell out around $120,000 per horse. Crestview is one of only two commercial groups in the world replicating polo horses, and it is the more prolific. ... Cloning began long before the world started paying attention to it, in 1996, when Dolly the Sheep, the first mammal successfully cloned from an adult cell, clomped into the world. One hundred years before, in 1885, Hans Driesch created two identical sea urchins by jiggling a two-celled urchin embryo until the cells separated and grew into their own creatures. Through much more sophisticated processes, scientists have since cloned pigs, cows, dogs, cats, ferrets, goats, and horses. (It is estimated that there are now around 300 cloned horses in the world, although no one has really kept track.) Now, with Crestview’s efforts, polo—the ancient “game of kings”—has found itself on the frontiers of cloning technology. ... “I did the math and realized it would take me $100 million and 50 years to get the quality of horses I wanted through conventional breeding,” he says. “I decided I didn’t want to spend either.” Instead, he turned to cloning.
With this general framework in mind, here’s how I’ve been thinking about the global macro outlook for a while: It is driven by the interaction among what I call the “three gluts”: the savings glut, the oil glut and the money glut. While the global savings glut is likely the main secular force behind the global environment of low growth, lowflation and low interest rates, both the oil and the money glut should help lift demand growth, inflation and thus interest rates from their current depressed levels over the cyclical horizon. ... Why is it, to simplify further, that everybody wants to save more but nobody wants to invest? ... The oil glut helps to mitigate the depressing impact of the savings glut on consumer demand by shifting income from oil producers, who have a high propensity to save, to consumers, who typically spend most of their income. ... We expect more monetary easing to come, particularly in China and in many commodity-producing countries, so the global money glut, which is already increasing due to heavyweights like the European Central Bank and the Bank of Japan executing their asset purchase programs, will swell further.
Abalone are technically snails. They are also one of the most pursued, regulated, and expensive foods on the planet. ... When threatened, the abalone pulls its armor down tight and grips the sand with its muscular foot. Their shells, which form an asymmetrical spiral, are an engineering marvel, with terraces of tiny hexagonal calcium-carbonate tiles that slide and bend to distribute pressure in a way that maximizes the absolute mathematical limits of their strength and gives them a beautiful iridescence. Abalone need elaborate defenses, because almost everything that eats them finds them incredibly delicious. ... For 100 million years, abalone blanketed the oceans’ floors as their predators evolved from tube-shaped critters to sea stars, fish, octopus, and eventually sea otters and other mammals. When humans moved into North America, abalone became a crucial food source for coastal dwellers. ... Studies of middens (ancient piles of discarded shells) that date back almost three thousand years on San Clemente Island, in Southern California, reveal unimaginable amounts of abalone consumed by native peoples. In fact, islanders cleared the entire island of black abalone before they decided to look for other sources of protein. ... Today, there is no commercial abalone fishing allowed in the United States, which means buying farmed or imported abalone are the only legal options. Only one variety—the red abalone (Haliotis rufescens)—can still be fished recreationally.
Co-living is the logical next step in the race to monetize the wantrepreneur lifestyle. ... Over the past seven months or so, several sleek new real estate developments have been announced, a couple of them even venture-backed, that want to offer residents a customized version of this brand of co-living. They share some basic similarities with their Bay Area predecessors, from experimental Northern California communes to hacker hostels crammed with young software engineers who headed West because it looked exciting on HBO. All ask residents to trade personal space for the perks of group living, but the newer entrants have a different attitude toward the “communal” part of the proposition — here, the “co-” prefix is more a signifier of close quarters and plug-and-play co-habitation, rather than co-op–style shared duties, chore wheels, and elbow grease. Month-to-month rental agreements require little more than a signature and a credit card. Your chores are done for you, seamlessly, in the background. Rooms are cleaned weekly. Coordinated events make even the socializing aspect easier. ... It’s a simple and intoxicating proposition — one born of the same Silicon Valley belief system that has plowed billions of dollars into on-demand apps that do your laundry, cook your meals, chauffeur you around, and clean your house, and that has so thoroughly shifted personal fulfillment to work that it’s all but indistinguishable from life. The do-it-for-me rental agreement reflects an unwavering faith in better living through entrepreneurship that constantly coos: When acting in service of a Big Idea, your time is too valuable to waste.
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On the seventh floor of a building overlooking the Federal Reserve Bank in lower Manhattan, two medical clinics share an office. One is run by a podiatrist who’s outfitted the waiting room with educational materials on foot problems such as hammer toes and bunions. The other clinic doesn’t have pamphlets on display and offers a much less conventional service: For the advertised price of $525, severely depressed and suicidal patients can get a 45-minute intravenous infusion of ketamine—better known as the illicit party drug Special K. ... Patients receive a low dose of the drug: about one-tenth of what recreational abusers of ketamine take or about one-fifth of what might be used as a general anesthetic. ... During the infusions, which are gradual rather than all at once, patients often experience strange sensations, such as seeing colors and patterns when they close their eyes. ... The U.S. Food and Drug Administration hasn’t approved ketamine for the treatment of mood disorders, but dozens of medical studies show that it can quickly alleviate severe depression.