What Are The Florida Everglades? The Florida Everglades span over 1.5 million acres and are located in central and southern Florida. It is one of the world’s largest wetland ecosystems that is incredibly biodiverse, and it has become world-renowned for its rich and abundant wildlife. Take for example, the vast array of three hundred different bird species that the Everglades National Park alone provides a home for.   The Everglades have also been home to indigenous groups such as the Miccosukee and Seminole tribes, many of whom still inhabit the area today. Many other non-native Floridians also inhabit this area and rely on the everglades for their home, food supplies, and more. Thus, the Everglades holds not only environmental, but also cultural significance for the sunshine state. The Everglades landscape has been decreasing since the 1800s, as people began inhabiting and changing the area by controlling the water supply and building houses. This disrupted the original habitats of many animals and began impacting the ecosystem, leading to a relatively unbalanced equilibrium.  Amidst this landscape of disruption, the Burmese python has emerged as a particularly destructive force, exploiting these imbalances to wreak unprecedented havoc on the Everglades' delicate ecosystem. Author: Greg Lovett   Source: The Palm Beach Post From Pet to Apex Predator: How Burmese Pythons Took Over Florida The Burmese python is a constrictor snake native to Southeast Asia, found in countries such as India, China, Thailand, and, as its name suggests, Burma, or modern-day- Myanmar. These pythons can reach lengths of over 20 feet, which is around 6.1 meters. They are incredibly strong, with their body being largely composed of pure muscle.  The precise reasons behind the explosive growth in their numbers and the severity of the problem remain unclear. However, the most commonly accepted theory links it to the exotic pet trade. According to the Everglades National Park, in the 1970s to 1980s, many people kept pythons as pets, but due to their extremely large size and generally difficult to manage nature, many owners released them into the wild.  Another theory for the current python circumstances is in regards to Hurricane Andrew in 1992, a Category 5 storm — the highest classification for hurricanes. The hurricane destroyed a python breeding facility, resulting in the release of all the pythons held there into the wild. It is unknown the exact or even approximate number of pythons in the Floridan wild. The Everglades National Park estimates that it could be anywhere from tens to hundreds of thousands of  Burmese pythons roaming around in the ecosystem. It is also remarkably difficult to find and track these animals, as they are masters at camouflage and exceptional at hiding their nests, whether above ground or underground. This makes it nearly impossible for the Florida Fish and Wildlife Commission to be able to keep track of or control the number of these pythons. Additionally, pythons reproduce at an alarming rate; each female lays an average of 35 to 100 eggs per clutch. This reproductive capacity means that the python population could potentially multiply every year.  The Devastating Impact of Pythons on the Everglades The issue with Burmese pythons as an invasive species is that there are no natural predators to control their population. As a result, these pythons have become the apex predators in the Everglades with an unlimited food source. Pythons are even known to eat alligators throughout their lifetime. In fact, according to Everglades National Park, pythons play a role in controlling the alligator population. This imbalance has led to the decline and near extinction of many native species in the Everglades. A 2012 study on mammal decline in the Florida Everglades, covering the years 1997 to 2012, revealed a dramatic drop in the populations of several native mammals. Bobcats experienced an 87.5% decline, opossums faced a 98.9% drop, white-tailed deer numbers decreased by 94.1%, and raccoons saw a 99.3% decline. Furthermore, marsh rabbits and foxes have effectively disappeared. Meanwhile, more of these animals are being found in the stomachs of captured pythons, highlighting the troubling trend of declining native populations alongside the surging numbers of Burmese pythons. Another concern is that since pythons are facing diminishing food sources in their natural habitat, they are increasingly venturing into populated areas. This raises significant fears among residents, as the pythons may begin to seek alternative food sources in these heavily human-populated environments.  Florida’s Fight Back: The Rise of the Python Hunters To tackle the destruction caused by invasive Burmese pythons, Florida state authorities have taken steps to get a handle on the ever-growing population. They've launched a python elimination program, which, according to Everglades National Park, currently has about 50 contractors on board. These contractors can earn up to $15 per hour, plus an extra $50 for every python they catch, and a $25 bonus for each additional foot if the snake is over 4 feet long. The program has been making progress, with an average of 4000 pythons being captured each month. The Sunshine State also has competitions such as the Florida Python Challenge, an annual 10-day event which attracts competitors from all around. These competitors come down to Florida in hopes of catching the longest Burmese python and earning the $30,000 prize. Outside of this challenge, the state does not pay individuals for killing pythons unless they are approved contractors.  According to the BBC, Florida has also added Burmese pythons to its prohibited species list. This makes it illegal to buy, sell, or transport pythons unless they were previously owned.  Furthermore, current owners must have their pets registered and have microchips implanted into them.  The state also encourages its residence to humanely kill pythons if seen on private property, with the consent of the land owner. Florida also has a guide on how to humanely kill these snakes to minimize suffering for the snakes. On the Hunt: How Python Hunters Capture Their Prey First and foremost, for these hunters, it is of the utmost importance to distinguish between the native Everglades snakes and the Burmese pythons. This is because there are also many venomous and deadly native snakes that can be found within the everglades. These include snakes such as the Eastern Diamondback Rattlesnake, the Coral Snake, the Pygmy Rattlesnake, and the Florida Cottonmouth. The Florida Cottonmouth is infamous because if bitten by one, its venom would paralyze your diaphragm, and without respiratory help, could lead to death in only three minutes. It is important that hunters wear the proper clothes in order to avoid any potential bites from Burmese pythons, or any other snakes found. Despite Burmese pythons not being venomous, they are still capable of inflicting severe bites which could be costly. For example, if bitten in an artery, severe bleeding could occur, leading to death very quickly. Moreover, Burmese pythons are constrictors and, if large enough, could kill someone by squeezing them to death. These hunters are truly heroes, putting their lives on the line every time they venture into the wild.  Now, the usual goal for python hunters is to locate, capture, and remove them. There are a variety of ways which hunters use to track these animals, ranging from high-tech devices, the use of dogs or other animals, and plain old searching.  Once located, some hunters use snake tongs to gain control over the snake’s head, which helps in keeping a safe distance from bites. However, many seasoned python hunters, such as the well-known "Python Cowboy," prefer to use their bare hands. This approach allows for greater control over the snake. In order to use this hands-on method, hunters need to get the snake into a U-shape, with the tail under control and the head facing you. Ideally, you want the snake to start striking at you, exposing its neck. This is when the hunter can hopefully dodge the strike, and quickly pin down the head. The hunters should also have a bag or container to ensure the safe and humane transportation of the snake. Most of the snakes caught will be euthanized. However, the ones that are not killed will most likely be utilized in an educational or research capacity.  According to the Florida Fish and Wildlife Conservation Commission (FWC) unless the python capturers are contracted members with the state, then the pythons must be killed on site of where they were found and captured. Transportation of the pythons in this case is not permitted. There are also specific state guidelines on how to humanely kill the pythons. This is thankfully protected by legal and ethical laws. The Road Ahead: The Future of the Everglades and Python Control As awareness spreads about the invasive Burmese pythons and the brave individuals risking their lives daily to save the environment, the fight to protect the Everglades is more important than ever. As aforementioned, controlling the python population is very challenging, but the honorable hunters are stepping up to restore balance to this delicate ecosystem one snake at a time. If you’re interested in potentially going on a python hunt yourself, you can join hunts like those with South Florida Fishing & Hunting where you can get an all-inclusive, fully guided python hunting adventure. Whether you’re a novice or a seasoned hunter, these experiences offer a chance to hone your hunting skills while aiding the effort to save the Everglades. Recommended Videos: Experience the Thrill of Python Hunting  If you're curious about what it’s like to step into the boots of a python hunter, these two thrilling videos offer a firsthand look at the challenges and dangers faced by some of Florida's hunters: BITTEN by a GIANT SNAKE in the Everglades... Hunting w/ "The Python Cowboy" Bitten and Almost Eaten Alive by an Over 17-Foot Python  These videos provide a vivid, up-close perspective on the bravery and skill required to protect the Everglades from the invasive Burmese python.

“The mind of the enemy and the will of his leaders is a target of far more importance than the bodies of his troops.” — Mao Zedong The art of war has always held psychological manipulation in high regard, and postmodern conflicts are not different, taking full advantage of the informational capacities of the 21st century. However, the Russian propaganda surrounding the war in Ukraine , as well as China’s cyber- and lawfare with Taiwan , are only the tips of a giant iceberg. Political actors are trying to influence decision-making worldwide and at every level of society, with the European Union’s External Action Service identifying no less than 750 recorded cases of foreign disinformation in 2023 . Aside from influencing public opinions on issues and thereby altering political support, those interferences are much more threatening in times of participatory or even deliberative decision-making. In democratic countries, disinformation is a vital threat to free elections, often targeting candidates or, more likely, whole parties to influence election outcomes. 2024 has been hailed as the ‘year of elections’ with about a third of the world population heading to the polls , making this threat ever more relevant. Notably, the increasing prevalence of political content on online platforms and search engines offers ample opportunities for users to encounter factually incorrect information. With this in mind, how do you inform your voting? Psychologically speaking, many factors influence an individual’s political behaviour and decision-making, ranging from biologically anchored personality traits to personal values, identities, and emotions to the influence of their social context . Research suggests that the search, processing, and use of information about any decision-making is guided by pre-designed templates that aid us in making sense of a nearly infinitely complex world, e.g. in the form of rigid beliefs or even ideologies . This form of judgement is especially helpful when forming opinions about groups of people with very different beliefs than oneself without the opportunity for prolonged engagement. One well-founded theory suggests that in these cases, one’s liking of an outgroup rests on three central, simultaneous comparisons to one’s own group: Do you share the same goal? Are they perceived as more or less powerful than you? Are they perceived as culturally inferior or superior to you? While many more possible assessments exist, these three are considered the most impactful in determining one’s position towards an outgroup . Positive opinions towards an outgroup are expected when you share the same goal and estimate their power and cultural sophistication at approximately equal levels. Should any of these assessments differ, the consequence will likely range from disliking to outright derogating the outgroup. Here, disinformation may work effectively when it supplies false accounts that tip the balance on these judgements. To those ends, it may also abuse common cognitive biases like the fundamental attribution error or diverse mental shortcuts that are necessary to keep up with the immense information load of our everyday lives. On a societal level, political scientists identified three ways in which disinformation threatens the integrity of democratic elections. Although the EU recognised the threat of disinformation on ‘very large online platforms and search engines’ as a ‘systemic risk’ in its 2022 Digital Services Act (DSA), its legal protection regarding the following threats to democracy suffers from significant holes. First, disinformation distorts decision-making and perhaps even facilitates disengagement with the news in general. While platforms and search engines are mandated to assess and mitigate disinformation threats, the lack of a concrete definition of disinformation and the largely self-responsible due diligence obligations placed on providers hinder adequate protection. Moreover, despite the support of fact-checking organisations, specific arrangements for detecting and treating factually wrong content have yet to be established. Second, disinformation can fuel polarisation and segregation by spreading false claims about political groups. This threat is well-ameliorated by empowering users vis-a-vis algorithms to make choices about the functioning of the recommender systems. The right to a user experience without personal profiling, as defined under Art. 4, section 4 of the GDPR , is especially worth mentioning. Third, disinformation via illegitimate accounts and information sources can impair trust in fundamental democratic processes and institutions, thus further opening the readiness to engage with alternative, likely compromised media sources . Despite platform providers’ obligations to identify and catalogue the origins and details of political advertisements and sponsors, this threat is not well met since this regulation does not affect the more informal, interpersonal interactions on search engines and online platforms. Thus, mandatory regulations do not affect disinformation that mainly occurs as news items or misleading social media posts. A legally binding definition of disinformation based on political and psychological research insights is necessary as a first remedy to these shortcomings. Moreover, algorithms could use the insights of academic theories to designate content categories or modes of expression that warrant closer scrutiny, potential labelling and automated fact-checking, as direct content moderation runs counter to the freedom of expression as enshrined in Art. 10 of the European Convention of Human Rights . Finally, the EU Commission published additional guidelines for providers of online platforms and search engines in the wake of the 2024 EU Parliament Elections that contain valuable yet legally non-binding clarifications on the DSA’s provisions. Including them as legislation would do much to remedy the current shortcomings and strengthen the legal protection against online disinformation. The implications of this combination of psychological and legal vulnerability for the European Union, voters and businesses alike, are that online information sources still require better scrutiny to combat the advance of political and other disinformation. Online search engines and social media are not yet obliged to have adequate content detection and filtering systems to ensure specific informational quality standards, which pose critical threats in the wake of fake accounts, deepfakes, and growing filter bubbles. Hence, organisations of high epistemic quality, such as research institutions, professional journalism and government agencies, remain the only sources of high information legitimacy. While wisdom also dictates caution in using such sources, their documents remain as dikes and bulwarks amidst the flood of inscrutable and unaccountable information spreading in record time across the internet.

Author: Simon Gilbert Source: RouteNote Create Blog A few months back, I was entering a quaint little café in Jordaan when I heard an Afrobeats song playing. At first, I was a bit surprised. As someone who is West African and has grown up listening to Afrobeats, it felt like a genre that had long been confined to the African diaspora. But, the more I thought about it, the more I realized that I had been starting to hear Afrobeats everywhere I went, and that this genre had become nearly impossible to escape. Whether I’m in the park, watching TV, at the beach, or dancing in the club, Afrobeats are always playing and increasingly so.  This got me curious about Afrobeats. I decided to dig deeper to explore where the genre came from, how it got to where it is today, and where it might be headed tomorrow. Part I of this series,   Afrobeats Unveiled: Fela Kuti – The Political Pulse Behind the Beat ,  explored the origins of the genre and its founder, Fela Kuti. Today, Fela’s Afrobeat has evolved into a new genre, Afrobeats which over the past decade has become increasingly popular and mainstream. Now, in Part II, we’ll dive into Afrobeats' meteoric rise to global popularity. Afrobeats Recent Boom Think about it, when was the first time that you can recall hearing an Afrobeats song? Did you even know that it was an Afrobeats song back then? For most people, the first Afrobeats song that they can vividly remember was “ Love Nwantiti ” by CKay which exploded into popularity on TikTok. It became one of Shazam’s most-searched songs and also entered as a Top 40 hit in the U.S. Since then, just a few years later in 2024, Afrobeats has gone on to dominate the top charts. Whether you’re looking at the Billboard Hot 100 or any other global music ranking, it’s rare not to encounter Afrobeats. As of 2024, the Grammys have even added an Afrobeats category, further cementing its influence on the global music scene. Although the genre of Afrobeats is quite different from Fela Kuti’s Afrobeat, it still retains many of the key elements that helped to make Afrobeat so unique. Afrobeats are most identifiable by their signature drum beat rhythms. These beats draw inspiration from a variety of traditional African drum patterns across West Africa. The rhythm is often energetic and infectious, serving as the foundation that ties together the diverse artists and elements of the genre. Afrobeats Throughout the 1990s Fela Kuti, the pioneer of Afrobeat, passed away in 1997, marking the end of an era for the genre he had created. However, his influence continued to permeate the musical landscape, laying the groundwork for the evolution of Afrobeat into contemporary Afrobeats. This transition began in the late 1990s and early 2000s, as many Nigerian artists started merging traditional African sounds with elements of mainstream hip-hop, pop, and R&B. In the late 1990s and early 2000s, many artists and groups began to rise to popularity, creating hit songs that defined the era. D’banj gained widespread recognition with tracks like " Oliver Twist ,"  which made it into the U.K. Singles' top 10 charts and made it to the number two position in the UK R&B Charts. While P-Square appealed to audiences with hits such as "Chop My Money," "Personally," "Alingo," and many many more. Their song " Alingo " garnered over 10 million views on YouTube, an impressive feat considering that many Nigerians lacked access to the platform at the time. This meant the views were coming not just from Nigeria but from audiences worldwide. Getting this amount of visibility was a significant achievement for any song, but especially an Afrobeats track during that period. The new sound that emerged during this period provided the foundation upon which today’s Afrobeats are built. P-Square, in particular, found remarkable success not only across the African continent but also within African diasporas worldwide. Their popularity extended beyond these communities, earning them international recognition. They even made appearances on shows like The Wendy Williams Show and joined Tim Westwood for a tour appearance, solidifying their status as some of the first ambassadors of the Afrobeats genre worldwide. Afrobeats Throughout the 2010s The 2010s was really the breakthrough period for Afrobeats worldwide, with many artists officially breaking the barrier into mainstream, international media. These include artists such as Wizkid who has hit songs such as “Joro”, “Mood” (ft. BNXN), and “ Essense ” (ft. Tems). Although, he is most known for his collaboration with Drake in 2016 on the song “ One Dance ”. The song went to top the U.S. Billboard Hot 100, making Wizkid the first Nigerian artist to ever appear on the chart, let alone top it. Since then, he’s gone on to collaborate with global stars such as Beyonce, Chris Brown, and Skepta. Beyoncé also embraced Afrobeats with her 2020 album Black Is King, which was inspired by the film The Lion King. The album featured a number of Afrobeats tracks and artists, further highlighting the genre’s global influence. Check out one of the hit songs from the album here . Burna Boy is another popular artist who has helped transform Afrobeats from a niche genre into a global sensation. Also known as ‘The African Giant’, Burna Boy is currently one of the biggest artists in the world, with over 17 million monthly listeners on Spotify alone. A one-time Grammy Award winner and ten-time nominee, Burna Boy appeared on the Afro-beats scene in 2013, yet, only gained mainstream popularity in the late 2010s. He slowly gained popularity most notably in the U.K. through features such as ‘Location’  by Dave (feat. Burna Boy)’, and ‘ Own It ’ by Stormzy (feat. Ed Sheeran & Burna Boy). However, eventually his persistence and widely successful recent albums ‘I Told Them…”, and “Love, Damini” would shoot him into becoming a household name for many worldwide.  Afrobeats Today  Between 2017 and 2022, according to Spotify on their platform Afrobeats streams increased by 550%. There has been a similar increase of searches, and plays for Afrobeats songs on other streaming platforms such as Apple Music, Youtube, and Anghami. Furthermore, in 2023, artist Rema with his song “ Calm Down ” (feat. Selena Gomez) became the first african-led track to hit a billion streams on Spotify. Streaming platforms largely helped to contribute to the growth of the Afrobeats genre as they make the music more accessible to fans all over the world. The most popular cities for Afrobeats in 2023 were Paris, London, and Nairobi.  Another important component of Afrobeats' recent rise to popularity is the role of social media, especially platforms like Instagram and TikTok. These platforms, with their short-form content style, have greatly contributed to the promotion of Afrobeats music and various dance challenges. TikTok, in particular, has been shown to promote the visibility of many smaller musicians in general, but especially those in the Afrobeats genre. Notable examples include the aforementioned CKay's “Love Nwantiti”, “ Sad Girlz Luv Money ” by Amaarae, and Tyla’s “ Water ”. All of which have gained significant attention through the platform.  Afrobeats is a broad term that encompasses a variety of cultures, sounds, and influences, making it somewhat of a generalization. As the genre continues to evolve, it has not yet had the opportunity to fully differentiate the distinct sounds within the 'Afrobeats' label.  However, I believe that as more Afrobeats music is released and the genre gains further popularity, it will naturally begin to differentiate into more distinct subgenres and styles. Over time, the diversity within Afrobeats will become more pronounced, reflecting the rich and varied cultures of the continent. The majority of mainstream Afrobeats artists today are Nigerian, with Lagos serving as the epicenter of the genre. Many of these artists embrace the mantra "From Lagos to the World," showcasing their mission to share the beauty and vibrancy of African sounds globally. We are already starting to see an increase in the popularity of other African genres, especially Amapiano. Amapiano is the Zulu word for piano and is a mix of deep house, jazz, soul, and lounge music from South Africa. Popular hits such as " Tshwala Bam " by TitoM & Yuppe (my current favorite), " Komasava " by Diamond Platnumz, and " Mnike " by Tyler ICU & Tumelo.za are gaining millions of views on social media and streams on TikTok. Even popular American artist Jason Derulo has joined in, featuring on the remix of "Komasava." This goes to show that the sounds from the African continent are reaching global audiences in new and exciting ways, and there's much more to come in the future. Afrobeats is also spreading around the world, with musicians such as Aya Nakamura and Niska in France or Chivv in the Netherlands. Additionally, there are artists in other countries who are not part of the diaspora who are beginning to replicate the Afrobeats sound. Prominent examples include PENOMECO with “ BOLO ” in China and Ezhel with “ Nerdesin ” and “ Kontak ” in Turkey. The Global Impact of Afrobeats: Why It Matters Afrobeats, is a powerful medium of cultural expression, showcasing the rich musical heritage and diverse traditions of West Africa. Rooted in the history of African resistance to colonial oppression. Pioneers like Fela Kuti, not only shaped the genre but also inspired movements for social and political change. The genre empowers African youth by providing a sense of identity and pride in their cultural heritage. It inspires creativity and offers opportunities in the music industry, contributing to economic growth and development. Afrobeats provides a platform for African stories and perspectives, challenging stereotypes and offering a more nuanced representation of African cultures in the global media landscape. Finally, Afrobeats fosters cross-cultural understanding and appreciation. It brings people from different backgrounds together, promoting unity and celebrating diversity through music. In conclusion, Afrobeats stands as a vibrant and dynamic force in the music world, shaping the future of global music while honoring its rich past. So next time you're at a cafe, in a park, on social media, or at the club and an Afrobeats song comes on, you’ll know that you’re not just hearing a catchy tune, you're experiencing the heartbeat of a culture and now you’ll know the powerful legacy behind it.  Afrobeats Recommendations:  If you’ve never listened to Afrobeats or are looking to explore more of the genre, check out a spotify playlist of some songs below! Link To Playlist - https://open.spotify.com/playlist/0uFx8t2XVlY7SGG1rZLwK0?si=e12317f443d442ab

This summer, the 22nd of July marked the hottest day recorded on Earth (Copernicus Climate Change Service, 2024) . In fact, the temperature of the Earth’s surface has since the 1880s increased by 1.1 degrees C, on average. Such rate of warming is at least ten times faster than any observed over the past 65 million years and is expected to increase the frequency and severity of extreme weather events (Woetzel et al., 2020) . Climate risk embodies the possible influence that changes in the climate can have on the financial performance of firms. This risk can be separated into two categories (EarthScan, 2024) . Firstly, physical climate risk refers to the material losses that occur as the result of extreme weather events such as floods, wildfires, droughts, and others. This risk is unevenly distributed, where some regions are more severely affected than others. Although, over time, areas that are not at risk now can become exposed as well. Physical climate risk can manifest directly through impairment costs or a decline in the efficiency and output of production. On the other hand, it can also have indirect effects such as disruptions in supply and demand. Both ways impact investors through a change in earnings or a rise in default risk (Sustainalytics, 2023) .   Secondly, transition risk represents the risk associated with moving away from fossil fuels and other activities that emit greenhouse gases. All over the world, policymakers emphasize the importance of decarbonization. However, reducing companies’ carbon footprint has proven to be costly and as such exposed to transition risk. Organizations that fail to make this transition are left exposed to regulatory penalties or a loss of market share. Both transition and physical risk are closely linked as the intensification of one amplifies the other, creating a compounding threat (EarthScan, 2024) .   Therefore, it is far from surprising that sustainable investing is growing in popularity among investors. According to a survey by the Morgan Stanley Institute for Sustainable Investing (2024) , 77% of individual investors worldwide indicate they are keen on investing in companies that pursue market-rate financial returns alongside positive social and environmental impact. Furthermore, over half of these investors are planning to increase their allocation to sustainable investments within the coming year (Morgan Stanley Institute for Sustainable Investing, 2024) . This represents a broader shift in the mindset of investors who see green investments not only as ethical but also as a smart investment strategy (Cheung, 2023) .   In 2023, sustainable funds reached a median return of 6.9% compared to the 3.8% of traditional funds, representing a rebound after a relative underperformance in 2022. Sustainable investments which lean more towards growth stocks to prioritise long-term focus, suffered as a result of volatile market conditions, which favoured value stocks. Therefore, growth stocks relatively underperformed. In 2023, macroeconomic conditions stabilised and the differentiation between value and growth stocks became less prominent (Morgan Stanley Institute for Sustainable Investing, 2023) .   The relationship between equity returns and carbon emissions has been examined in several studies, the results of which yielded diverging conclusions. For instance, Pástor et al. (2022) credit the increase in environmental awareness for the superior performance of green stocks. Additionally, they find that green stocks outperform brown stocks when there is negative climate change news, which supports the idea that green stocks serve as a hedge against climate change risk. However, they also caution that recent gains in green stocks are not an indication of outperformance going forward.   Another study by Bauer et al. (2023) found that from 2010 to 2021, green stocks consistently outperformed brown stocks in the U.S. and also showed higher risk-adjusted returns (higher Sharpe ratios) compared to brown stocks. However, brown stocks performed better than green in the first half of 2022 possibly due to the unexpected demand in energy and defence sectors amid the Russia-Ukraine war.   On the other hand, Bolton and Kacperczyk (2021) analysed a sample of US firms from 2005 to 2017 and found that emissions have a significant and positive effect on stock returns. This is consistent with the carbon premium hypothesis, where investors require higher returns for firms with high emissions due to the increased risk. In an additional study, Bolton and Kacperczyk (2023) also discovered evidence that firms with higher total emissions and higher emission growth rates have higher returns. This suggests that high-polluting firms are exposed to greater risk from the transition from fossil fuels to renewable energy sources.    All in all, the academic literature has yet to reach a unified conclusion, and this sheds light on the complexity of this issue. Over the next decade, it is vital that companies and investors cooperate and recognize the importance of making the economy more sustainable and equitable. It will not be an easy task and it is vital that there are effective ways to finance this transition. To achieve the key 2030 interim targets, firms will need to reshape their corporate practices and business models. Additionally, long-term investors will have to determine how to allocate their capital to meet global climate objectives (Alsford, 2023) . Furthermore, to fully capitalize on the momentum of sustainable investing, investors should familiarize themselves with sustainability measures and ESG criteria. Looking ahead, the incorporation of ESG considerations into investment portfolios is set to become the norm as opposed to an exception. Investors should adapt to this new landscape where sustainability is as crucial as profitability (Cory-Wright, 2024) .

The Federal Reserve embarked on an aggressive tightening cycle in 2022, raising interest rates from nearly 0% to a range between 5.25% and 5.5% in less than 2 ½ years. Despite this, as of July 2024, the unemployment rate remains low at 4.1%. Job growth in the US has also remained robust, averaging 232,000 per month over the past 6 months, significantly higher than the average monthly gains of 190,000 from 2015 to 2019, which was a period of stable economic growth. However, as economic activity in the US continues to slow down, we are observing a linear deceleration in the labor market. The unemployment rate has increased for 3 consecutive months, a trend last seen in 2016. Unemployment is rising despite strong job gains because the unemployment rate is calculated using the household survey from the Bureau of Labor Statistics rather than the establishment survey. According to the household survey, job growth has been much weaker, averaging -95,000 per month over the past 6 months. Additionally, job openings have been declining. Over the past 12 months, job openings decreased by an average of 136,000 per month, dropping from a record high of 12,182,000 in March of 2022 to 8,140,000 as of May 2024, though still considerably higher than the 2019 or pre-pandemic average of 7,154,000. The risk associated with a prolonged labor market slowdown induced by tight monetary policy is that it could rapidly transition from a linear deceleration to a steeper, nonlinear decline. Identifying proximity to an inflection point in the labor market requires looking beyond current job openings and the unemployment rate; it necessitates statistical analysis to uncover existing nonlinear relationships in the labor market. One prominent example is the relationship between job openings and the unemployment level. Job openings are a crucial indicator measuring open, unfilled positions, while the unemployment level gauges the total number of actively seeking unemployed individuals. In theory, there exists a nonlinear relationship between job openings and the unemployment rate. When unemployment is high, an increase in job openings can significantly reduce unemployment because there are many unemployed individuals available to fill the jobs. However, as unemployment decreases and fewer people are actively seeking jobs, the same increase in job openings will have a smaller impact on reducing the unemployment rate. Conversely, in a high job openings environment, employment levels are typically already high. Therefore, a reduction in job openings might simply reduce the number of unfilled vacancies rather than result in layoffs. As a result, the impact on the unemployment rate is minimized because employed individuals are not directly affected. When job openings are low, a further reduction in job openings will cause displaced workers to struggle to find a new job, causing a greater rise in the unemployment rate. Additionally, in times when job openings are low, further reductions in job openings are often accompanied by broader cost-cutting measures, including layoffs. The theory of a nonlinear relationship between job openings and the unemployment level finds support when examining data from various periods, such as from 2010 to 2019. The chart above illustrates the nonlinear relationship between job openings and the unemployment level. The line of best fit was generated using a polynomial model with three degrees. The statistical result of the model is presented below, where the dependent variable is the unemployment level, and the explanatory variable is Job Openings.  The R-squared indicates that our model can explain approximately 98% of the variation in the unemployment level, with all three polynomial terms being highly significant. To further explore how the same decrease in job openings affects the unemployment level differently at various points along the curve, we will utilize the model above to predict the unemployment level based on different levels of job openings. For instance, when job openings decrease from 7,000,000 to 6,000,000, our model predicts an increase in the unemployment level of 1,095,234. However, a decrease from 4,000,000 to 3,000,000 job openings is predicted to result in a larger rise in unemployment, specifically 2,753,540. This illustrates that a 1,000,000 decrease in job openings leads to a much greater increase in unemployment when job openings are at 4,000,000 compared to when they are at 7,000,000. To further clarify this nonlinear relationship, we can examine the slope of the line of best fit generated by our polynomial model with three degrees across different levels of job openings. As depicted in the chart above, as job openings decline, the slope of the line of best fit becomes steeper. This suggests that a consistent decrease in job openings will lead to a more pronounced rise in the unemployment level as job openings continue to fall at the same rate. Using data from the years 2000 to 2010 indicates a similar nonlinear relationship. As illustrated in the chart above, the line of best fit depicting the relationship between job openings and the unemployment level, created using a polynomial regression model with three degrees, steepens as job openings decline. Implications for the Federal Reserve Labor market conditions in the US are coming into better balance. The Fed has emphasized that ongoing progress in achieving balance in the labor market is crucial to gaining confidence that inflation is on a sustainable path towards the Fed's two percent target. During the pandemic, job openings reached an all-time high and have since declined as labor market conditions come into better balance. This trend is also reflected in the ratio of job openings to the unemployment level, which has significantly decreased, as shown in the chart below. Despite the decrease in job openings, there has not been a substantial increase in the unemployment rate due to the high initial level of job openings. However, the risk now increases with continued declines in job openings potentially leading to a more pronounced rise in unemployment, as indicated in this analysis. In other words, as job openings continue to decrease, the potential for a nonlinear increase in the unemployment rate grows. The Federal Reserve is closely monitoring this situation. Chairman Powell has cautioned that sustained decreases in job openings could amplify the rise in unemployment, while noting that labor market conditions continue to come into better balance. Additionally, after inflation progress stalled in Q1 of 2024, recent data on inflation and the ongoing rebalancing of labor market conditions support the narrative that the Fed may feel confident enough to begin lowering interest rates at the September Federal Open Market Committee meeting. In conclusion, this article highlights the presence of nonlinear dynamics in the labor market that must be carefully considered to assess proximity to an inflection point and understand how continued moderation in labor demand will impact the unemployment rate.

Commentary of Student Protest from Modern History Throughout history, student-led protests have served as powerful catalysts for change, intended diversion from societal norms, and long-lasting memories in the heads of young communities. With the causes of mismanaged education systems, wars, and dictatorships, the highly educated parts of young generations have led society towards inclusion, peace, and freedom. Today, at universities, we are experiencing a new wave of protests. This is the perfect time to review what activism in the past has brought upon us. This article aims to offer a commentary and discuss the causes and effects of protests with immense historical meaning. Focusing on mainly educational institutes in the Western world, from Paris to Prague, we will list some of the most significant demonstrations of modern history.  1956- Hungary In 1956, the entirety of the Eastern Bloc began to feel the wind of change. Starting in Poland in June 1956, working unions initiated protests and social unrest, demonstrating against Soviet oppression. By autumn, the morale of seeking freedom had reached Hungary as well. At the beginning of October, opposition covenants started to form to loosen the totalitarian communist ruling of the country. These organisations contained students from the more prominent universities of the country, who, on October 23rd 1956,  started an open protest against the status quo. Which first started as a peaceful demonstration against government and communist party officials and soon turned into violent riots against the Soviet military presence in the country. From riots, citizens soon started an independence war until November 4th. The numerical superiority of Soviet armies won. However, the revolution is still remembered in the country as a success and a symbol of freedom and peace.  Hungarian kids demolishing Soviet Statue in 1956, source: http://www.magyaroktober.hu/felvetel?i=712805095&n=gyerekek-daraboljak-a-gellert-hegyi-felszabadulasi-emlekmu-ledontott-mellekalakjat-1956-10-29-korul The conflict's importance is remembered not only because of its challenging effect on Soviet control but also for its symbol of resistance. It brought attention to the shared aspiration for self-determination and democratic governance and sparked additional demonstrations and upheavals throughout Eastern Europe and beyond.  The sacrifice of teenagers from the ages of 10, university students, and working unions was indeed a David and Goliath fight. The 1956 events were a turning point in Hungarian history and profoundly ingrained in the country's national consciousness. They act as a constant reminder of the value of liberty, self-reliance, and the courage to oppose injustice. Even though these values are hard to find today, everyone can find some hope in them. The echo of the revolution is very well described by Lazio football fans who regularly sing 'Avanti ragazzi di Buda', meaning (Come on, you guys from Buda).    1960-70 - US Antiwar Protests The protests of the 1960s were a series of demonstrations primarily against the Vietnam War. Although these were different in action, the ideological part and aim were the same. The Berkeley Free Speech Movement of 1964-1965 started as a demonstration against the abolition of human rights after the University of  California banned on-campus political activities and fundraising. Even though the protest does not have a solid link to the Vietnam War, it is significant in the history of student movements. During the autumn of 1964, students organised large occupations of campus buildings and sit-ins around police vehicles and judiciary sights. This aspect laid down the groundwork for future student activism. Mario Savio, a philosophy student from New York and a pioneer of the Free Speech Movement, on December 9, 1964, at a victory rally on the campus of the University of California, Berkeley, source: https://inthesetimes.com/article/free-speech-radical Building on this foundation of student activism the Students for a Democratic  Society (SDS)  in 1965 led one of the first demonstrations against the Vietnam War by gathering more than 20,000 students on a march in Washington. For years, SDS worked on an educational basis. By organising lectures at the University of Michigan,  they spread the word about the war and mobilised opposition. However, the movement was unable to remain peaceful. In 1968 (Democratic Convention), radical members of the SDS, known as the Weatherman, started a confrontation with Chicago police to draw more attention to their cause. The aggressive aspect of the movement made it unpopular in the eyes of the public; however, in student circles, it created immense significance and galvanised activism for social justice nationwide. The infamous trial of the Chicago Seven is the aftermath of the Weatherman's activity, where popular characters like Tom Hayden and Todd Gitlin were brought before charges. The Netflix movie made in 2020 is a great and highly suggested watch on the topic.  Because of the richness of the topic, I could dedicate a separate article to the 1960s protests in the US. However, to move forward on the rocky history of student activism, let us view one last movement of the period.  In 1968, students at Columbia University in New York City staged protests against the school's intentions to build a gymnasium in Morningside Park, a public area frequented by the nearby Harlem neighbourhood. Still, the main aim was to stop the university's participation in military research. The protester's primary tool was campus occupation, to which the police reacted with forceful measures and over 700 arrests. The violent reaction fueled more anger and strikes. Having no other chance, the university has cancelled the gymnasium construction and sought to loosen ties with the Institute of Defense Analysis. The movement showed the power of direct action from students and led to further cooperation between the university and its students.  1968 -  Paris Also known as May 68,  student activism in Paris began at the University of Nanterre when students occupied administration buildings to protest against educational discrimination. In response, the university board shut down education due to ongoing unrest, which led students to move their protest to the Sorbonne University. After unsuccessful communication, the police entered the campus to evict students, which brought about the first violent clashes.  Following the events on campuses, students marched to the Latin Quarter of Paris, where thousands supported by young workers barricaded themselves against the police, leading to hundreds being arrested and injured. After a night full of aggression, public sympathy for the students was sparked by the copious deployment of tear gas and the violent methods employed by the police. The protest continued for the whole month of May, creating a scenario when 22% of the country's population participated in the activism. The government, fearing a civil war and continuing unrest, called for new elections after dissolving the National Assembly. The protest soon seemed to wane, and Charles de Gaulle claimed victory again in the June elections, consolidating his political power and stability.  The May 1968 events profoundly affected French politics and society. They brought about significant social reforms, a shift in cultural perspectives, and a rise in young people's political participation. The demonstrations had an impact on global social movements in the future. The 1968 protest and student self-awareness are deeply ingrained in French society thanks to influential individuals like Daniel Cohn-Bendit.  1989 - Prague In almost all countries of the Eastern Bloc, an increased will to change the communist regime started in the 1980s after Mikhail Gorbachev's glasnost (openness) and perestroika (restructuring) reforms. The series of demonstrations in the Czech capital began with a commemoration of Jan Palach, a student who, in 1969, self-immolated to protest the Soviet invasion. The police answered with repression to the memorial movement, which in turn started to focus on Soviet oppression.  Later, in 1989, student protests started to form, which the police handled brutally, leading to broader activism and higher support from society. As soon as the police violence became widely known, dissidents like playwright Václav Havel mobilised the Civic Forum, a broad-based opposition group. The Civic Forum called for both the administration's resignation and political change. Thousands of people gathered in Wenceslas Square and other locations across Prague as the demonstrations swelled. A gentle gesture of jingling keys signified the attitude of nonviolence and togetherness that permeated the mood. People from Czechoslovakia pour onto the streets of Prague in 1989 during the Velvet Revolution, source: Time Magazine: https://time.com/5730106/velvet-revolution-history/ After recognising that their stance was unworkable, the Communist Party leadership, in turn, started talks with the Civic Forum. Two critical concessions were promises of democratic elections and the resignation of staunch Communist officials. President Gustav Husák appointed a new government with a majority of non-communist politicians. Soon after, he resigned, which marked the end of the communist regime.  The Velvet Revolution remains a symbol of activism and is one of the few protests that achieved change and proved successful in all senses. It has brought significant economic and social changes, creating space for times characterised by freedom. Especially in Eastern Europe, the Velvet Revolution is still seen as a testament to the effectiveness of nonviolent protest and the will of ordinary people to bring about political change. It is praised for the peacefulness of its transition to democracy and for that. Climate Activism - 2018-present In August 2018, a then 15-year-old Gret a Thunberg started her solo protest, sitting outside the Swedish Parliament urging politicians to act in the interest of the Paris Agreement. Her activism soon became a local phenomenon and rapidly spread over the internet through memes. However, she managed to reach her goal. Soon, a movement called  Fridays For  Future emerged that urged students to skip school on Fridays to bring attention to climate change. Soon, a coordinated protest by an estimated 1.4 million students from over 100 countries marked the movement's first significant worldwide strike. The strikes criticised government leaders for their inactivity and emphasised the critical need for climate action. Greta herself became an internet personality, soon having the privilege to deliver speeches at events such as COP24 and the World Economic Forum. Her infamous speech at the United Nations Climate Action Summit spread the internet with How Dare You memes. However, despite the negative feedback, she managed to create a movement with 4 million student participants globally.  Even though she was nominated for the Nobel Peace Prize and was named the Time's Person of the Year in 2019, her effect still needs to be determined. Because of the complex issue of climate change, it is still unclear if her work was positive or if she created a dislike for her activism on the more conservative side of society. One thing is obvious: her presence is memorable and will stay with us for years to come.  This is the end of our trip to student protests in modern history. In conclusion, young intellectuals have an immense impact on society, and we cannot put aside the power of educational institutes. Universities are a future meeting point where new ideas change hands and cultural differences are dissolved. The outcome of the current happenings in the Western world is still yet to be decided; however, one thing is sure: we need to look out because history might just be in the making.

Did you put a lot of effort into your thesis, did you reach interesting conclusions, or did you explore a novel concept in your subject area? Share your knowledge with the rest of the world by publishing a popular scientific article in Rostra Economica  as a guest editor! Feel reassured knowing that you will receive advice and guidance on how to craft your article effectively. It’s entirely up to you to write, but we are here to help you present your message in the best possible light. The Research column at Rostra Economica offers a platform for disseminating knowledge through a journalistic lens, with a primary focus on economics, business, and finance. This column encourages original articles derived from research, theses or dissertations, crafted in a narrative and accessible style intended for a broad audience. It emphasises creativity and engagement, allowing contributors to utilise various forms of expression, such as creative writing, visuals, and diagrams, to convey economic principles and research findings. The column serves to bridge academic research and daily economic understanding without adhering to strict academic journal standards. How can you contribute? Apply: Send an email with your topic and abstract to rostra@sefa.nl during the months of July and August, and include “Rostra Thesis Series” in the subject line Write: Get instructions on how to structure your article. Based on your thesis, write an article of ~1000 words highlighting the essence and peculiarities of your research Review: Send your article in and get it reviewed by a copy-editor Publish: Your article appears on rostraeconomica.nl  – time to be proud of your accomplishments! What are we looking for? Interesting topics in all subject areas of UvA Economics and Business An exciting, yet simple popular scientific article appealing to a wider audience Thesis research that is of high quality (there is no minimum grade requirement, but we expect guest editors to have a rigorous thesis as the foundation of their article) Things to keep in mind You always retain copyright to your original thesis and to the popular scientific article you publish at rostraeconomica.nl Just as UvA Economics and Business are only responsible for the supervision of your thesis, Rostra Economica  is only responsible for the publishing process You, as the author, remain responsible for the content of your work Have questions? Contact the Head of Economics & Finance at timofeyzhalnin@sefa.nl   or the Head of Research at santiagomengual@sefa.nl About Rostra Economica Rostra Economica is a magazine founded in 1953 and based in the Netherlands. Since the 2010s, our online presence has been dominating over the traditional print. Nowadays, we regularly publish articles online, as well as in 3 printed editions a year. Our primary focus is economics, but we also explore a wide range of topics such as politics, technology, business management, and the environment. We are part of the Study Association Sefa, based at UvA Economics and Business. Through our articles, we hope to engage our readers in interesting conversations and help them develop a better understanding of the world around them. We invite you to join us as we explore the depths of economics, finance, and global issues.   Learn more...

Recently, by recommendation of the human resources officer, the Editorial Board of Rostra Economica announced it would appoint three new members ahead of the 2024-2025 academic year. Our editorial team celebrated this occasion at the Amsterdam Business School. The Board is very proud of these editors' achievements and is certain that they will not only maintain our current standing but also significantly add value to Rostra Economica. About the Appointees Levente Juhász, after joining the Board as an interim financial officer in 2024, takes charge of the magazine as the Editor-in-Chief until 2025. He looks towards expanding readership across both the student body and faculty while continuing the legacy of Rostra of timeless, quality writing. His academic interests include real estate finance and development economics. In his address to the Rostra team, he points out his aim “to achieve one thing above all: growth.” “Growth in financials, members, number of articles, and basically everything we can offer. However, there is one goal that rises above all, which is no other than increasing engagement. Rostra has magnificent potential and opportunities to improve student and organization relationships.” Orlando Leite Faria is an Economics Honours student. After spending 3 months in the Economics & Finance column, he will take over the financial and administrative affairs of Rostra Economica. Ekin Köseoğlu has spent the past year as the Head of Politics and is now joining the Board as the marketing officer. He remarks: “I am thrilled at the idea of designing bodacious printed editions next year and innovating our digital marketing so Rostra becomes an even stronger brand.” Yuval Peled has been appointed human resources officer. She was initially drawn to Rostra Economica as an editor in the Culture & Technology column, seeking a space with academically inclined individuals. For the first part of her term, she will work from Auckland, New Zealand. Inspired by the quality of the people involved in the magazine, she strives to uphold the excellence of the editorial team while continuously pushing for improvement. In addition to her typical duties, she will play an active role in advancing the professional development programme at Rostra Economica. The appointees will assume their Editorial Board duties on August 1, 2024. Until then, they are working alongside the incumbent members and participating in handover activities. About the Departing Board As the outgoing Editor-in-Chief, John Gatev reflects on the past year, noting that it has been a challenging one, and that, in a university context, work and studies can sometimes hinder publishing ability. Still, it has been an incredible year at Rostra, and time has gone by so quickly. John, quoting Juan Felipe Gaviria, the Editor-in-Chief of 2022-2023, mentions that "time does not matter when you do something you love." In concluding his address to the Rostra team, he highlights the primary value points of Rostra and its importance, which spread far beyond the University of Amsterdam: the ability of editors to share their work, ask critical questions, and engage in discussions. John will return to being an editor for Rostra Research and continue with his research in communication science as well as teaching at the Amsterdam Business School. Inés Serhane has completed her 2-year tenure as marketing officer. She reminisces about her tenure, noting that she is left “especially happy and proud to see how the magazine has developed”, adding that “[...] it has also become a special place for many others, and I am certain that I will be left in good hands”. Elene Kiladze, having completed her Economics degree, is completing her tenure as human resources officer. She remarks, “the passion for writing, young curiosity, and the beauty of friendships never failed to reach my heart here.” About Rostra Economica Rostra Economica is a magazine founded in 1953 and based in the Netherlands. Since the 2010s, our online presence has been dominating over the traditional print. Nowadays, we regularly publish articles online, as well as in 3 printed editions a year. Our primary focus is economics, but we also explore a wide range of topics such as politics, technology, business management, and the environment. We are part of the Study Association Sefa, based at UvA Economics and Business. Through our articles, we hope to engage our readers in interesting conversations and help them develop a better understanding of the world around them. We invite you to join us as we explore the depths of economics, finance, and global issues.   Learn more... Photos from the event are courtesy of Elizabeth Palii and Bernice Tsewole.

source: Ecaterina Tolicova Sweeping right-wing? Or just a weakening left? What will happen next June? Is the status quo the music of the past? Or is there no wind of change at all? Furthermore, is the EU loosing from its reputation or is it just the political communication from the right? Let us explore the EU’s political spectrum together and prepare for whatever may come. Last week I was listening to a podcast, when one of the guests pointed out, that there is a high probability for a right-wing sweep in the European Parliament elections next June. This might, he said, bring a substantial change in the EU’s liberal-leaning politics. In recent years, the European Union was described as a political entity swayed towards the left. The organization of 27 countries was well-known for its liberal politics, urging governments to enforce green change and progressive measures. However, in 2022 with the election of Giorgia Meloni the streak of countries with left-wing leadership broke. According to poll expectations, other European countries will follow the right breeze, which might mean that in the next EU elections more conservative representatives can start their mandate. The European Parliament Elections 2024 The strengthening of the right-wing forecasts an interesting picture for the upcoming European Parliament elections in June 2024. The EP consists of 705 members, who can form any number of parties during their mandate. Currently, there are 7 groups, with the European Peoples’ Party on top (176 seats) followed by the Progressive Alliance of Socialists and Democrats in the European Parliament (144 seats). Even though the EPP is said to be a party positioned in the central-right, it is hard to say that they have been pushing conservative bills. Moreover, the oldest party of the EU is viewed as a liberal group by the more right-leaning members, like Hungary or Poland. An important thing to realize is, that even though two members of the EP are from the same country, they do not necessarily work for the same party. Next June voters will send members to the parliament by the law of proportionality, meaning that the higher the population of the country, the more representatives will attend the meetings in Brussels. According to Politico, there is a high possibility for a right-wing sweep in the election’s booths , as central-right parties are now starting to form alliances with once-considered historically unloved far-right groups. source: Parliament’s seven political groups: European Parlaiment Website What do the EU critics say? It is a common saying that the EU is, as a whole, destined to be a powerless organization. Leftist critics say that sanctions regarding the Ukrainian war and green measures are not processed quickly and efficiently enough. It is, therefore, a common topic that the EU, to keep up in the race with the US and China, should change its veto policy and should induce joint foreign affairs. However, these voices are coming from the left, what do right-wing politicians argue in the EU? It is almost a constant topic that right-wing parties urge higher sovereignty for their own nations. They are trying to limit the EU’s hands-on virtue towards domestic politics. Moreover, the conservatives tend to criticize the EU’s green politics as well, by emphasizing that the organization makes hasty, and not at all well-thought decisions in the matter. These topics lead to high misunderstandings in the EU summits, therefore it is necessary to mention some of them on their own. Migration More liberal representatives and heads of state argue that the goal of the European society should be to make the integration of immigrants as easy as possible. Some of the EU lawmakers support a policy that would help asylum seekers settle down and make their life in the EU more accessible . The ones who are supporting this policy often emphasize the idea that this would stop the peaking migration crisis by pushing immigrants not to go from one EU country to another. However, critics say that this bill hurts the sovereignty of an individual member country and their right to deal with the crisis. Right-wing members emphasize, that only states can make decisions in such matters, since the culture of the countries depends on them. Green Policies Even though, over the summer more than 60,000 Europeans died from heat-related causes, the EU’s Green Deal is losing popularity. When Ursula von der Leyen got elected, she introduced her climate bill, which was accepted with high support from almost all parties in the EP. However, with the elections coming up the President of The European Commission has lost valuable popularity within her very own party. Although centralists and conservatives support the carbon neutrality plan, they believe that the current climate action, the Green Deal is hasty, and not well structured. Next year’s elections will potentially slow down the green initiative further within the EU, as with a possible right-wing sweep, members of the Green parties might not receive enough votes. Moreover, Frans Timmermans, the Commission Chief of Climate in the EU, might return in the autumn to Dutch politics, leaving the green parties without central support. Veto Policy As a consequence of the Russian-Ukrainian peace talks in the EU, member states realized, that the organization’s veto policy makes the negotiations longer and ineffective. In order to remove this inefficiency in the EU, nine states have indicated that they would urge a change in the veto policy. The supporters of the change include Belgium, Finland, France, Germany, Luxembourg, the Netherlands, Slovenia, and Spain. These countries5 argue that the current system prevents the EU from an effective foreign policy and believe that ‘Improved decision-making is also key to making the EU fit for the future’. However, countries that have right-wing governments dislike this idea, as it would, as they say, demolish the sovereignty of members and create inequality on the political spectrum. Therefore, the change in the lawmaking process of the EU is a difficult game to play, as none of the sides is willing to let the other one to take the ball home. But in which countries is there a right awakening? Several nations have turned or will possibly turn their heads away from the left in response to the economic crisis of the last couple of years. Firstly, Italy. In the Mediterranean country Giorgia Meloni was elected as prime minister. The first woman to ever hold this office is a member of the only Italian party that had not yet distanced itself from the far-right movements during the 1930s. Her election was considered a turning point in the EU, she was even called the most dangerous woman in Europe by Germany’s Stern magazine . However, after more than a year had passed, she did not turn out to be so militantly right-leaning as previously suspected. Although she does maintain the right-wing way of economics, she does not cross any steps in the EU and except for the migration law, she supports the decisions made in Brussels. Although it is hard to imagine that there will be a right-wing chancellor in Germany, we must mention the country with the biggest economy in Europe. The far-conservative organization, AfD (Alternative for Germany) is, in fact, gaining popularity . With the seemingly ineffective decisions made by the social democrats and the problems between the parties of the governing coalition, the traffic light looks weak and incompetent of governing. However, even though there is a popularity gain on the far-right side, it does not mean that they will replace the current regime. The CDU, a central-right party is also in for the race to poach the leftist voters. What is more, the Christian democratic party has around 30 years of governing experience, which means that in the upcoming fight for power, they have a considerable advantage compared to all other parties. Last but not least on the list is Spain. In July, the country held its national elections, where the leftist Pedro Sánchez was reelected as prime minister. H owever, he fell short of expectations, as this year’s election was the most competitive since 1996. Meaning, that on the right-wing the Spanish People’s Party has gained a surprising popularity, which can open a possibility for a conservative turn in the Iberian country. With Slovakia and Finland on the list, these countries might join the growing right-wing wave next June, when citizens will visit the polls to decide how they want to shape Brussels. On the conservative side there is an often-critical view towards the EU, and when gaining popularity, they can change how the organization shapes the continent. But will these changes really matter in the life of the EU? The question is not easy to answer and there is not one good reaction to it. There is a difference between right-wing politics in the western part of the continent and in the eastern part of it. While, in the more developed countries conservative policies would mean higher market control, or more controlled asylum intake, in post-Soviet countries, like Poland or Hungary there are political regimes, which people would call far right. In these member states, the EU is often communicated as the source of misfortune, and politicians tend to blame the organization for any crises happening in their countries. It is enough to look at the difference between Angela Merkel a center-right winger and Mateusz Morawiecki an Eastern European right-winger. Moreover, right-wing politicians who get elected in Western countries tend to consolidate after taking office. The example of Giorgia Meloni fits this description perfectly. The Italian prime minister was said to be the most dangerous woman in Europe. Before getting elected, her speeches were full of far-right ideas, however when she took office, she started to be more careful, and more closely align her party to the big Western countries. The idea of a right-wing European Union is hard to imagine. However, it is in our own hands. Next June, every European citizen over 18 will have their say in the future of the continent. Are you going to change the status quo? Or do you trust the current policymakers and will give your cross to the existing MEP? Let us know on our social media comment sections or via email. And don’t forget, voting is the most beautiful right to bear in our system; take the opportunity and shape our future.

Eurovision: Consistently Political, does this year's Contest solidify the trend? Source: AP Photo/Martin Meissner Hate it or love it, the Eurovision Song Contest is undeniably a key event on the European calendar, being the second most-watched television event globally, surpassed only by the Olympics. The contest, created by the European Broadcasting Union (EBU) in 1956, aimed to provide some moment of peace to the continent devastated by two world wars and to provide a captivating music contest uniting Europe in its differences while staying above the politics. Despite the slogan „United by music” and the event's premise of remaining apolitical, it notoriously fails to do both. Every year, political messages are smuggled into the scene through the lyrics, outfits, or even representatives themselves, often dividing the audience. This year's competition, like no other before, has generated controversies and strong emotions, as an Israeli broadcaster was allowed to participate despite the alarming practices in Gaza. Controversial as never before Although organizers tried really hard not to make this year's Eurovision about the Israeli-Hamas war, the topic was nearly impossible to avoid, as the EBU decision to let Eden Golan participate outraged many, which could be seen under every Instagram post mentioning the singer. The critiques haven’t just limit to the online world, as during the Eurovision week, thousands, including activist Greta Thunberg, have marched in Malmö  with Palestinian flags and banners with text such as „Genocide Song Contest.” The outrage was also noticeable during the show itself, as the audience booed every time Israel appeared on the stage and made especially strong expressions during the giving points ceremony, as the crowd was not drowned out by the music.  The ESC's decision to ban all flags except those of competing countries and the rainbow flag, aimed at preventing the display of Palestinian flags during the contest, did not stop performers from expressing their views. Although Ireland’s representative  Babmie Thug was asked to remove phrases „Ceasefire” and „Freedom for Palestine”  written in the Gaelic alphabet from their makeup, during Tuesday’s semi-final, some found a way to show their support for Palestinian people. Guest performer Eric Saade appeared wearing a keffiyeh [a scarf associated with the pro-Palestinian movement] on his wrist, while Aboriginal Yidaki player   Fred Leone appeared with watermelon, which colors match the Palestinian flag, painted on his body  during Australia’s performance. Despite everything, Israel placed 5th after all, after getting 375 points, including 323 from the public. Israel's ranking so high was predictable, as bookmakers have forecasted Golan's placement in the top 5 for months; the distribution of the votes between the juries and public, however, was not, as usually, the public is more critical of the Israeli government’s actions in Gaza compared to the more cautious media.   It became a tradition at this point that the jury and public could very strongly disagree about the performances; however, in the heat of the protest and critiques, 323 points from the public vote were surprising. The answer to this nuisance might be that those disgusted by EBU’s decision chose to boycott the contest and did not vote, while simultaneously, the pro-Israeli public made sure to show their support in the similar way that people did in 2022 when voting for Ukraine after the Russian invasion. There might be a simpler explanantion. That is, the majority of people did not care about the political aspects of the performance and cast their vote exclusively based on their preferences.  The lousy 52 points from the jury, a theoretically more unbiased entity, makes even less sense. Did the performance not satisfy the jury's expectations? It does not seem very believable as songs like „Hurricane” usually catch juries’ attention. So was it, therefore, a way for the majority of the broadcasters to quietly show their concern about what is going on in Gaza? It is not shocking that the song did not get any points from Iceland, as   RÚV opposed Israel’s entry from the start   or Belgian VRT, which, during the second semi-final, skipped the country’s performance  and broadcasted the message condemning the human rights violations of the Israeli state instead. Hence, if the statement is true, it gives us an inside look at what individual, less vocal broadcasters might really think about the union decision. Cross out, rewrite, hide… Israel’s preparations, however, did not go as smoothly as the country had hoped. The EBU asked to tailor the first proposition of the Israeli song „October Rain”   due to the political context  of some of the lyrics like „Writers of the history, stand with me,” „I’m still wet from this October rain,” „There’s no air left to breathe,” or „They were all good children, each one of them,”  which clearly alluded to Hamas’s attack on Israel on the 7th of October, during which Hamas killed 1139 people . Originally, the Israeli broadcaster, KAN, countered the EBU decision. However, after Israeli President Isaac Herzog's intervention, the broadcaster decided to alter the song. The adjusted version of the song, renamed „Dance Forever,” was rejected again for the same reason as the original version. Finally, the third version, „Hurricane,” with changed lyrics to transform it into a love ballad, but the same melody had been accepted by the organizers. It’s not the first time that the EBU has asked participating countries to alter their entries because of lyrics, speeches, or gestures of a political or similar nature. In 2008, Russia won the competition with 'Believe,' performed by Dima Bilan, the same year that it backed South Ossetian separatists' attack on Georgia, breaking the 1992 ceasefire agreement. As a form of protest for the 2009 Eurovision in Moscow, Georgia selected the song „We Don’t Want Put In,” performed by the pop group Stephane and 3G. Although the Georgian Public Broadcaster was given the ability to rewrite the lyrics or choose another song, the country decided to withdraw that year. Although the organizers keep a close eye on the proposed songs, some of the hidden messages in the lyrics have escaped the censors' attention. Ukraine’s entry in 2007, „Dancing Lasha Tumbai,” whose lyrics „I want to see Lasha Tumbai” sound similar enough to „I want to see Russia goodbye. Although the hidden meaning was never confirmed, when you hear the song, you cannot refuse the similarity of the two phrases. Some have also criticized the 2015 Armenian entry, implying that the song commemorated the victims of the Armenian Genocide, an event denied by Turkey and Azerbaijan. The music video was supposed to confirm the song's hidden meaning, referring to WWI and the title of the song, 'Don’t Deny,' which was also part of the chorus. To quell the accusations, the Armenian broadcaster changed the name to „Face the Shadow” but did not adjust the controversial lyrics. Despite attempts by organizers to regulate participants by requesting lyric changes or altering performances, those more determined performers or countries can still find creative ways to convey their messages. The problem at the core When discussing Eurovision entries, it is important to remember that the broadcasters choose the participants, which is supposed to ensure artistic independence. The EBU rules state that its members should contribute to „enhancing the freedom and pluralism of the media, the free flow of information and ideas, and the free formation of opinions.” However, looking at the list of participants over the years, it is doubtful that some of them could be classified as free media. Fidesz came to power in Hungary in 2010 and   filled the Media Authority as well as the national broadcaster MTVA  with people favorable to them by changing the Media Act. With the media being under the strong influence of the governing party, it has raised concerns in the European Parliament, stating a lack of free speech when it triggered Article 7 proceedings against Hungary. Despite the EP intervention, it has not raised concerns in the EBU that the country might be breaking the organization's rules. Moreover, broadcasters like Belarusian BTRC, Russian RTR, and C1R had evident ties with their respective governments, which were apparent even before the countries were excluded from the broadcasters union in 2021 and 2022, respectively. The disqualification of Belarus from the ESC in 2021 was primarily due to the suppression of free media by the country’s authoritarian president, Alexander Lukashenka. In the same year, prior to exclusion, the Belarusian Broadcaster proposed the entry of Galasy ZMesta with "Ya nauchu tebya,” an anti-protest song that translates to „I’ll Teach You.” This song choice, referencing the wave of anti-governmental protests following the falsified presidential elections, indicated rather clearly the dependence of BTRC on the government. Likewise, Russian media have long been under government control. In attempts to soften its harsh image, Russia has sent entrants like Yuliya Samoylova, a disabled singer, to the 2016 contest in Kyiv (although her visa was rejected, she participated a year later), and Tajik refugee Manizha with the catchy, feminist song "Russian Women.” Based solely on the fact that some members of the EBU are controlled to a significant extent by the governments, which ipso facto breaks one of the main rules of the organization there is no point in persuading the audience that Eurovision is an apolitical event, when it obviously is not. Can EBU escape politics? Those outraged by the EBU decision need to understand that the organization is not keen on banning participating countries. According to Eurovision’s executive supervisor Martin Österdahl, the decision to exclude Russia in 2022 was about   reassuring core values of democracy  and human rights; however, this disqualification was an exceptional case, happening only a day after the invasion of Ukraine. According to ESC representatives, „ the inclusion of a Russian entry in this year’s Contest would bring the competition into disrepute. ” Although there is much truth to this message, there is also a question of why they did not act when Russia attacked Georgia in 2008 or annexation of Crimea in 2014. Paradoxically, Eurovision makes a political statement by both permitting and disqualifying non-independent broadcasters and states accused of wrongdoing; the only difference lies in what the statement will be. For anyone following the contest, it's no surprise that Eurovision isn't solely about the music. It's a play of soft power among countries, each striving to communicate something about themselves within a mere three-minute performance. Although the quality of the performance is the main determinant when it comes to results, there is no doubt that politics also plays a part, and in some cases, like Ukraine's win in 2022, it may be a key element for success. While the EBU endeavors to maintain the apolitical nature of Eurovision, it often struggles to do so. This raises the question: Is it even possible for the event to remain apolitical? Probably not, as art is a fundamental form of expressing emotions about war and conflict, and countries given the opportunity will try to tell the story from their perspective. Even the voting patterns over the years reflect the complexities of European relations. The Eurovision was, is, and will continue to be a political event, as every international event gathering pitted against each other countries is, whether it wants it or not.

In the labyrinthine streets of Lagos, there lived a man who challenged a system of oppression with every note he played. His name was Fela Kuti, a thorn in the side of the Nigerian establishment and a musical legend in the making. Eventually, he would go on to inspire a new generation of musicians and change the course of music history forever.  One fateful night in 1974, the Nigerian police descended upon his commune, the Kalakuta Republic compound, with a cunning plan: planting a joint of marijuana on him - which at the time was punishable by a hanging death - the police sought to silence him for good. Kuti, as the quick-thinking rebel he was, swallowed the joint whole. He was taken into custody as the police awaited the moment for the damning evidence to emerge. Yet, when the time came, his excrement miraculously contained nothing incriminating. The authorities had no choice but to release him. Upon his release, Fela released a song titled "Expensive Shit," revealing how he had ingeniously, once again, outwitted the oppressive Nigerian government. With the help of fellow inmates, he secretly excreted the evidence and substituted it with another inmate's feces. Moreover, taking the opportunity to expose the government's relentless persecution of him and further criticize its rampant corruption.   This story serves as just one testament to the resilience and unwavering determination of Fela Kuti. His story, his music, and his very existence would leave a mark on the African continent, inspiring generations to come. His legacy and his music would inspire a new genre of music, which less than a century later would spread around the globe. In today's musical landscape, when looking at the top charts, whether it's the Billboard Hot 100 or any other global music ranking, it is rare to go without encountering Afrobeats. Originating from Nigeria, it is infused with a rich blend of West African music styles alongside influences from funk, jazz, and other genres. Afrobeats has steadily risen into popularity, transcending the boundaries of the African Diaspora to firmly establish itself in mainstream media. But what sets Afrobeats apart? And perhaps more intriguingly, what are the political undercurrents that lie at its origins? Many music historians trace the roots of the Afrobeat sound to the early 1920s in Ghana and Nigeria. However, most regard the 19060s as the birth of the genre Afrobeat, which would eventually evolve into the popular genre today, Afrobeats.  Afrobeat was arguably birthed and popularized by the late Nigerian musician, bandleader, and composer Fela Aníkúlápó Kútì, better known as Fela Kuti. Born on October 15th, 1938, to an anti-colonialist feminist and labor activist mother, Funmilayo Ransome-Kuti, and an Anglican minister father, Israel Oludotun Ransome-Kuti. Fela's upbringing laid the groundwork for his musical exploration. Beginning at the Abeokuta Grammar School, where his father served as principal, Fela began his musical journey. His eventual classical music studies at Trinity College London in 1959 further shaped his musical identity and ideological outlook. During his time in London, Fela immersed himself in diverse musical genres, honing his skills by playing piano in jazz and rock bands. It was during this period that he became aware of many European’s disdain for African culture, particularly in the aftermath of colonial rule. This awakening strengthened Fela's connection to his African heritage, compelling him to challenge and dismantle his own colonial mindset. Moreover, it ignited a desire within him to empower others to break free from the systems of oppression brought on by colonialism, whether on a mental, social, or political level. Additionally, it inspired him to advocate for a return to the traditional systems of African society, which had been deemed inferior for generations. In 1969, Fela embarked on a tour of the United States, where he encountered and established connections with numerous African Americans. It was during this journey that he delved into the structural and historical factors contributing to the economic and political marginalization of Black people in the United States. Fela drew parallels between the effects of American racism, stemming from generations of slavery, and the colonial racism found in Nigeria. Additionally, he had the opportunity to explore the writings of influential figures such as Martin Luther King, Jesse Jackson, Nina Simone, Angela Davis, Malcolm X, and other impactful Black writers of the era. Inspired by the activism of the Black American movement in confronting systemic oppression, Fela felt compelled to make a difference in his own country. Motivated by the example of activists fighting apartheid in South Africa through music, such as Miriam Makeba and Hugh Masekela, Fela saw the potential of music as a tool for change. It was during his time in the U.S. that Fela composed his debut instrumental African song, titled “My Lady’s Frustration”. Encouraged by the positive reaction from the crowd, Fela decided to continue exploring this unique sound, recognizing its potential significance. He coined the term Afrobeat for his music - as it incorporated many different sounds from around the continent. Typically, a piece would start with a gentle introduction, gradually building up as each section of the band joined sequentially. The percussion and bass usually took the lead, followed by the keys and other accompanying instruments, and the horns usually came in last. Each band member had a simple yet repetitive riff, and when combined, the result was a dense and pulsating sound. Fela’s experiences, and especially his Fela U.S. tour, deeply influenced him and left a lasting impact on his music, leading to its increasing politicization. With his ensemble, known alternately as Nigeria 70 or Africa 70, he boldly spoke out against the Nigerian government under military dictatorship and its military juntas, which held power in Nigeria from 1966 to 1999. Fela sang his songs in Pidgin English, a blend of traditional English and West African dialects, predominantly Yoruba in his case. This language choice allowed him to communicate with the anglophone West African underclass, resonating with those who were unemployed, disadvantaged, and oppressed. At the peak of his fame, Fela was known as the most renowned artist on the African continent, capturing attention on the global stage. Some of his iconic tracks, such as “Zombie,” “Shakara,” “Expensive Shit,” and my personal favorite, “Lady,” catapulted him to widespread recognition. Moreover, many of these compositions served as a vehicle for political commentary and social change.  Fela’s activism was not without severe consequences, as Nigeria's military government responded by consistently targeting him. They regularly raided the nightclub where he frequently performed, the Shrine, in attempts to silence his voice, often with the aim of imprisoning him. In 1977, the military carried out a brutal raid on the communal compound known as the independent Kalakuta Republic, which Fela had established. This raid occurred shortly after the release of his album "Zombie," in which he scathingly criticized the military's actions. Describing them as a "mindless horde," Fela portrayed them as blindly following orders and brutalizing the public. During the raid, soldiers viciously attacked everyone in the compound, wielding batons and guns, resulting in severe injuries. Tragically, some of Fela's wives were subjected to sexual assault, and his elderly mother was thrown out of a window from the second floor, unfortunately dying from her injuries the following year. Although Fela sustained a fractured skull and was arrested, he eventually recovered and was released. In his later years, Fela continued his political activism. In 1979, he founded the Movement of the People and ran for the presidency of Nigeria, though unsuccessful. Tragically, he passed away in 1997, having contracted HIV during the early stages of the African AIDS epidemic. Despite his death, Fela Kuti's legacy transcends beyond his lifetime. His music and message resonate across generations, inspiring countless individuals to advocate for justice and equality. Some popular modern-day Afrobeats artists that pay homage to Kuti include Burna Boy, Wizkid, and Ayra Starr. Afrobeat has since evolved into the genre of Afrobeats, yet it retains some of its political origins. Fela Kuti, hailed as the genre's patriarch, is revered as a Nigerian legend and will forever be a trailblazer in music history.

The Metaverse is a concept unfathomable to those who lived just 50 years ago. Coined by Neal Stephenson in his 1992 science fiction novel “Snow Crash”, the metaverse has transcended its fictional origins to become the future of communication and digital markets. The metaverse is defined as a non-physical virtual world wherein users interact; experiences made possible through sensory- and 3D-technology. In this context, we define experiences as the virtual environment and events that users interact with in a metaverse server. The metaverse exists in many forms, such as the games Minecraft, Fortnite, or Second Life. A big player in the metaverse field is Meta, formerly known as Facebook and founded by Mark Zuckerberg. Through bold strategic moves, Meta announced the creation of its metaverse, “Horizon Worlds”, operating in a fully VR environment. Furthermore, Meta had also penetrated the hardware market for metaverse apps to be run by acquiring Oculus and launching the Meta Quest VR headsets. The introduction of Meta’s metaverse plans led to an initial stock plummet of 70% in 2022 due to uncertainty surrounding the metaverse’s viability and substantial investment expenses. Zuckerberg has since reimagined the metaverse as “the next evolution in social connection and the successor to the mobile internet” with growing success in mainstream digital services and communications markets. As of 2023, Meta Quest has a rising user base of over 400 million, along with a 300% rebound in its stocks. The Meta Quest is in the growth stage of its product life cycle. Another prominent player in the metaverse industry is Roblox, with over 40 million experiences, 70 million daily active users, and a net worth of $23 billion. Roblox is available on all platforms and is also accessible through the Meta Quest VR environment. The Metaverse is coming to fruition, bringing new markets such as NFTs, digital real estate, and cryptocurrencies. Background Information Many different metaverses can be joined from any device. Smartphones, tablets, and computers were the standard method of accessing virtual environments; however, Meta has popularized VR and their association with the metaverse. Horizon Worlds is accessible through a Meta Quest headset, a hardware device designed for VR interactions. Originally owned by Oculus, the VR headset developer was acquired by Meta in 2014 for $2 billion. The user wearing the headset is able to interact with a digital environment due to sound and sensory technology. Movement in VR is made possible with two handheld controllers and a digital avatar. The VR headset allows the user to access many different metaverse applications. The most prominent activities include gaming, experiencing and exploring environments, watching movies, purchasing products or NFTs, exercising, social media, art, and work activities. The most popular apps in the Meta Quest platform consist of social media and games, or a combination of both. The top eight Meta Quest applications, as of 2024. Many other business sectors such as the Healthcare, Education, and Construction industries are investing in Meta, reflecting the potential of the technology tool to improve society. The common reason is that VR allows for realistic simulations, which can be used for a broad range of activities such as planning projects, training employees, providing stress relief therapy, and creating immersive educational environments to increase the effectiveness of learning. The primary demographics include 47% of users aged 18-34, 47% being 35-54 and 6% being 55-64 years of age. Approximately 60% are male and 40% female.  49% of VR headset users own one at home, while others visit family’s houses or VR parks to use VR. Currencies in the Metaverse Metaverse Digital Currencies Metaverse currencies consist largely of digital and cryptocurrencies. Digital currencies are a currency type that lacks a physical form and are controlled centrally by specific organizations. For example, Robux from the game Roblox is in the top 10 most-played games in the Metaverse. Users can exchange Robux for non-physical cosmetic items, games, land, and experiences. Many video games utilize digital currencies for real currency to digital currency conversions, to receive purchases from customers. Roblox converts dollar prices into the digital currency of “Robux”. Metaverse Cryptocurrencies Cryptocurrencies are defined as decentralized, virtual currencies that operate on a blockchain. The leading cryptocurrencies include Internet Computer (ICP), Stacks (STX), Axie Infinity (AXS), The Sandbox (SAND), etc. Cryptocurrencies help exchange NFTs. NFTs allow for ownership of digital items, such as art, games, and songs. Cryptocurrency and blockchains allow for recorded transactions to be more accurate. Metaverse Markets Consumer Culture and Digital Products Why do consumers spend money on virtual products that serve no physical function? How can they be valuable or useful? The answer lies in Consumer Culture Theory (CCT) and the popularization of video games and avatar customization. The Metaverse offers endless experiences that are impossible in the physical world, from using magic powers to slaying dragons. Within these interesting and growing numbers of experiences, individuals aim to express themselves by crafting avatars that mirror their style. According to Consumer Culture Theory, emotional factors such as gratification derived from purchases lead customers to purchase non-physical, functionally “useless” products. Prestige perception and a desire to be unique also play a role in the consumption of digital products. Furthermore, the network effect is prevalent, defined as the value of products increasing as more users use compatible products. As more users are on the metaverse, metaverse products and one’s avatar customization becomes more valuable. Businesses Selling Products The metaverse has become a method for businesses to sell digital products, as a primary or secondary purpose, and utilize digital currencies or cryptocurrencies. Many corporations can also leverage metaverse platforms to advertise, increase brand awareness, and reach new customer segments. Monetizing metaverses is done in many ways, for example, limiting access to a metaverse with a one-off payment, or making the metaverse free with in-app purchases and subscriptions. NFT products may also be exchanged with big success, for example, in the case of Nike. Nike launched its NFT shoes after acquiring NFT manufacturers such as RTFKT. It had released 20,000 NFT shoes for the Metaverse. As of May 2024, RTFKT has stopped sales for Nike shoes, increasing their rarity and value. On Opensea, the Nike shoes can be exchanged for the cryptocurrency, Ether, at sales prices ranging from the highest sale performed by Nike at 45 ETH ($134,000) to as low as 0.00097 ETH ($28.56) depending on the time of sale and style of NFT shoe. The advantage of using NFTs is the authentication system combating counterfeit products. This is done through the use of an NFC tag, which is a tag or chip attached to a smartphone that verifies the virtual shoes are authentic and not counterfeit 3d products replicated by another brand. Markets are not limited to NFTs or 3d products; experiences are also a prominent market in the form of the intangible value of memories. NIKELAND was launched on Roblox, a video game on the metaverse. This is an effective business strategy, as the demographics of VR games consist largely of the youth. NIKELAND can create positive brand associations through enjoyable experiences, creating nostalgic value that will likely influence customer purchasing behavior as they mature. Other brands such as Forever 21, Gucci, and Hyundai have employed similar strategies, building metaverses to reach the global demographic and create unique experiences to market their brands. The Metaverse Real Estate Industry The virtual world is technically limitless; however, several large corporations have created virtual environments. These specific virtual environments have limited spaces and are distinct in their branding. The companies operate their cryptocurrency, which can then be used to buy and sell the limited land spaces. With blockchain technologies, they track land owned by specific users. On the land space, 3d models can render realistic or cartoon-like environments and buildings. The largest transaction of digital real estate was performed by Republic Realm, who invested $4.3 million into Sandbox (SAND) beating the earlier record of $2.43 million invested by Metaverse Group into Decentraland (MANA). By limiting the land to be purchased, the metaverses increase the property value of their virtual environments. Sandbox (SAND) permanently limits the amount of land in their metaverse to 166,464 LANDS. Similarly to the real world, the more user traffic in certain areas in the metaverse, the greater the property value price. Furthermore, more users increase the value of products due to the network effect. Investors predict that capital appreciation will occur as the metaverse gains a growing number of users, and thus the real estate can later be sold for a much higher price. Furthermore, many buildings can be built on the virtual land, such as a mall in which businesses can showcase and sell their NFTs, concert areas for virtual events, offices for online meetings, etc. Investors may aim to “rent” these virtual environments to companies for commercial purposes to recover losses. Although the real estate market in the metaverse remains largely speculative, it has significant potential. Implications of Intangible Products The line between tangible and intangible products has been blurred due to the metaverse. Goods are traditionally viewed as physical manufactured objects, while services are intangible skills that are purchased. However, technology has altered this definition. Digital products such as virtual shoes cannot be classified as services; they are goods, but they are non-physical. A better definition would be that goods are commercial units in the form of a digital or physical object, with transferable ownership. Services encompass skills, labor, and value-adding processes, which can manifest as digital or physical experiences, and are produced and consumed simultaneously. To classify a distinction between the two, we label intangible goods as digital cosmetics, NFTs, and virtual real estate, whereas intangible services are metaverse experiences. The value of intangible products is generally difficult to predict. However, the value of digital products can be controlled. In the metaverse, experiences are usually quantified with a rigid one-off access price or have in-app purchases. Intangible goods such as NFTs, digital cosmetics, or real estate are technically unlimited, however, as shown in the case of Sandbox (SAND), companies must limit quantities to increase value. Luxurious goods consist of the most rare and popular NFT products or land spaces or in the context of experiences, the ones of greatest quality and with the highest access price. Digital products can be easily altered in quantity and can be customized and produced at low costs. Products are instantly delivered, and there are few pollution concerns for digital products. Services form the basis of value in the metaverse, as customers’ primary purpose is to experience virtual worlds, and cosmetics or real estate are purchased as a supplement. All things considered, the metaverse is massively risky but has the potential to reap great rewards. 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