David Michael Bruno

iPad and the not-so-revolutionary Consumer

I have just a few thoughts regarding the iPad and its relationship to the consumer.

But first a couple of minor points. Can you say, "Lame name?" How did that get through creative? I'm stunned.

As for the technology, it too is lacking. There's more hope in the technology, however, than in the nomenclature. Several folks have pointed out that the iPad is like the earliest iPods. Remember those awkward, monochrome things? The iPad, it is said, is just the first version of an amazing product, two years from now.

A revolutionary technology must be able to do two things: 1. it must conjure possibilities in the end user's imagination and 2. it must be easy to envision how it will develop into an exponentially better technology in the near future.The iPod went from an MP3 player to a mini computer to a mini computer/game console/phone/camera. MacBooks have gone from laptops to laptops. It's clear which one was revolutionary. The iPad might be revolutionary, but it's hard to say.

And there is a motive force called "expectation" that will create resistance to the iPad. When the iPod launched it was unspectacular. No one expected it, and no one put expectations on it. When the iPhone launched it was spectacular, and people were expecting it to be. This week when the iPad launched, the expectation was all or nothing - either better than the iPhone or so-so gadget. Most people seem to think the iPad is a so-so gadget.

Nevertheless, a lot of people are going to buy it. And this is where I'm personally most disappointed. The iPad does little more than offer you and me the chance to, you guessed it, buy one more thing.

The iPod turned us into consumers. With an iPod you could listen to the audio version of the New York Times. The iPhone turned us into contributors. With an iPhone you could produce the pictures and tweets and audio that might contribute to the New York Times. The iPad seems oriented toward putting us all back in our place as buyers of things. It has a nice application that lets us read the New York Times.

With an iPad, it seems to me, the average person can add value to the world, if "value" means playing games, buying media, and looking cooler than the person without the latest gadget. With an iPad there is not much for you and me to contribute, yet. And that's not revolutionary, yet.

Understanding Ecomomic Booms and Busts...the rap

Generally, I am not a huge fan of the creative reasoning, "We want to try to explain something in a video...we'll make a rap!" But this one does a pretty good job. And apparently it has been endorsed by Ke$ha.

Notice that F. A. Hayek comes out looking just a tad bit better than John Maynard Keynes. Take a look at Planet Money for all of the credits.

Is the 100 Thing Challenge Anxiety Producing?

Kind of a question-post here. I wonder if the 100 Thing Challenge is anxiety producing?

For a while I've been wanting to get a Wheaton College sticker for my car. (Got my M.A. there.) But I keep thinking, "That would be an extra thing." So I have the desire to display school pride mixed with the commitment to the 100 Thing Challenge. Not on a daily basis, but every so often this combination makes for anxiety.

I think there is a solution to this, but I wonder nonetheless...

Is It Possible To Invest On This Playing Field?

Stuart Fleming added a great comment to my recent post about teaching children financial responsibility. He thinks about these things and has a few ideas himself. I want to quickly comment on the idea that we grown ups should invest and should teach our children to invest.

I've been a little bit distracted and so have not been able to give my $10,000 Challenge as much attention as I'd like. The idea of it, though, is to take a chunk of money and put it to good use to 1. realize a good return and 2. add more value to the economy. Thus far I've used $100 of this money to buy the URL www.100ThingChallenge.com. Also I am using some of this money to develop an identity for the 100 Thing Challenge with one of my friends who is an amazing designer.

But also I invested some of it in Apple (AAPL). Nothing big time. I bought 15 shares a while back when it was trading below $200 a share. Looking over the company's fundamentals, anticipating its strong earnings, and believing that its Tablet will be "game changing" like the iPhone was, I believed that Apple was a sure bet. And it appeared that I was right. Pretty much the day I bought, the stock rode up to $205 and then into the $220s. All the fundamentals stayed in place. Earnings (to be released on Monday) are sure to be great. Price targets are being set for $240 or even $260. This stock is exactly what an average investor can choose with minimal risk.

But then Friday. Apple dropped like Newton's Apple right through $200 a share, which was my stop price. Why? It's a portrait of our economic meltdown. It took a dive because there are crooks who manipulate the market, and there is nothing an average investor can do about it but sit back and take the hit. Here's what happened to Apple's stock. Worst of all? In after hours trading, the price jumped back up to $204. Who wants to bet it will open in the $210-215 range tomorrow?

Now some will say that this is just the way it works and why it is risky to be in the stock market. Uh, no. This is the same reason it's risky to get involved in the mafia, because you're dealing with dishonest people who are willing to change their minds and kill you at a moment's notice.

I was talking to a day-trading buddy of mine a while back and he suggested a better use for my $10,000 than investing in the market. He thought I should use it to take as many people out for coffee as possible until I find one of them to hire me for lots of money. It was sort of tongue and cheek, but only sort of.

To be honest, I might still try to pick up some Apple shares in pre-hours trading on Monday. Despite the crooks who screwed average investors like me on Friday, I think it's obvious that Apple is a solid company. Moreover, I think that over the next few years their Tablet will do for publishing what the iPhone did for communications and music. (Not that I'm all happy about what happened. There are some negative consequences. But you cannot deny that the iPhone created the new way in which these industries work.)

But my sense is this. If we adults want to put some investment money to good use, and if we want to teach our children to do the same, it's probably best to start with a lemonade stand on a hot summer day.

100 Thing Challenge Reminder

Over the last several months it has been really fun to see who is participating in the 100 Thing Challenge. And it is cool to watch how each individual puts her or his own spin on it.

I thought it might be helpful, though, to reiterate my original intentions in creating the 100 Thing Challenge. Just a reminder of what I hope folk get out of the 100 Thing Challenge, even if they put their own spin on it.

American-style consumerism preaches that we people can have an ideal life, if we get the right stuff.

I removed stuff from that equation with my 100 Thing Challenge.

My life is not about buying my way to perfection. It's about participating in meaningful endeavors.

I underlined all the words and phrases that are "loaded," that have significantly more meaning than can be expressed by the word alone. (There's a book that explains them.)

It is understandable that many people plug the 100 Thing Challenge into their efforts to de-clutter or live simply or redress consumer debt. The 100 Thing Challenge is a great fit for these issues, even though they were not my priority when I created the 100 Thing Challenge.

The 100 Thing Challenge is about breaking free from the spurious message of American-style consumerism that has turned many of us into habitual shoppers. It is about the humble admission that we cannot buy perfection no matter how many times we visit the mall, because we humans cannot be perfect. The 100 Thing Challenge is about removing our facade of consumer stuff to reveal our real selves. And it is about the finding joy.