In the wake of the global pandemic, the movie industry is facing an existential crisis.
Whether due to emergency decree or fear of infection, people are staying home and out of the cinemas in droves trib.al/qGhW4JI
Hollywood’s response has been to postpone “tentpole” movies to 2021, including:
🎬James Bond: No Time to Die
🎬Dune
🎬Black Widow trib.al/qGhW4JI
There’s a predictable negative synergy: If there are no big movies, few people will go.
If few people go, the big movies will be postponed even further
Small wonder that the world’s largest theater operator might soon file for bankruptcy trib.al/qGhW4JI
All this raises two questions:
➡️Can movie theaters be made safe enough that audiences will be persuaded to return?
➡️What’s the cost if they collapse? trib.al/qGhW4JI
In much of the U.S., shutdown orders keep theaters closed. Experts are divided:
Some argue that if audiences wear masks and socially distance, it’d be safer than going to the gym.
Others insist they remain risky trib.al/qGhW4JI
The rest of the world seem less afraid of theaters than we are. Cinemas are open in :
Lately, in an effort to lure U.S. audiences back, the big chains have been touting their upgraded ventilation and other cleanliness measures.
But the “ick” factor is keeping the public at home trib.al/qGhW4JI
We still lack good data on Covid transmission in cinemas. Some cinephiles assert there have been no reported cases of transmission in a movie audience.
That’s hard to know for sure, given the failure of most efforts at contact tracing trib.al/qGhW4JI
Why does this matter? Can’t everybody just stream at home?
Sure. But that’s a different experience, involving consumption of a different product trib.al/qGhW4JI
Film critic @OwenGleiberman warns that if theaters die, we will lose “the greatest art form of the last century.” The public seems to agree:
📺Game of Thrones peaked at 19 million U.S. viewers
📽️Avengers: Endgame sold 94 million tickets in the U.S. alone trib.al/qGhW4JI
Going to the movies is one of the last public activities that we attend by choice where the political views of the people around us make no difference whatsoever.
We sit in the darkness, eyes on the screen, sharing a unique experience with strangers trib.al/qGhW4JI
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While the world wrestles with a deadly pandemic, another challenge is sneaking up on the human race: population aging.
As we transition from an exploding species to a shrinking one, economies around the world will start to feel the pressure trib.al/MawBWAc
Japan is the canary in the coal mine here.
Although its birth rate is not as low as that of many other rich countries, it's been low for a long time. That’s why Japan is now the world’s oldest major economy trib.al/MawBWAc
On one hand, Japan demonstrates why a shrinking population doesn’t automatically impoverish a country.
Its population is slowly declining, yet income per capita has continued to rise as productivity grows and more women enter the workforce trib.al/MawBWAc
India’s Covid-19 economic gloom turned into despair this week.
Its per capita GDP may be lower for 2020 than in neighboring Bangladesh, the smaller nation it helped liberate in 1971 by going to war with Pakistan trib.al/hdficHl
“Any emerging economy doing well is good news,” @kaushikcbasu, a former World Bank chief economist, tweeted after the IMF updated its outlook.
“But it's shocking that India, which had a lead of 25% five years ago, is now trailing” trib.al/hdficHl
Ever since it began opening up the economy in the 1990s, India’s dream has been to emulate China’s rapid expansion.
After three decades of persevering with that campaign, slipping behind Bangladesh hurts its global image trib.al/hdficHl
Of all the world’s billionaires, with the exception of those from China, it’s the French who have just enjoyed their most lucrative decade trib.al/VDVsgAM
LVMH boss Bernard Armault and his ilk saw their wealth balloon 439% to $443 billion between 2009 and mid-2020, fueled by Asian hunger for French luxury goods and a global real estate boom trib.al/VDVsgAM
Before he had Covid-19, Brendan Delaney, the 57-year-old chair of medical informatics and decision making at Imperial College, could cycle 150 miles in a day.
Covid changed that, but not because he had a severe case of the disease trib.al/nMhJr0P
Like many healthy people, he figured his symptoms, a mild fever and a cough, would pass soon enough. Instead, he experienced debilitating aftereffects, such as:
🥱Fatigue
🫁Breathlessness
🌡️Fevers
Seven months later, he is still not back to normal trib.al/nMhJr0P
He can’t imagine getting back on a bike and says that if he pushes himself too hard, he ends up in bed with a fever for a couple of days.
He considers himself lucky that he’s able to work. Many other long Covid sufferers cannot trib.al/nMhJr0P
In late June, @MaxNisen highlighted what he deemed a "horrifying" chart showing massive growth in new infections in the U.S. relative to the European Union.
Now, almost four months later, that chart remains terrifying, in a completely different way trib.al/hQxu8YS
For the first time since March, the EU is reporting more new Covid-19 cases on a per-capita basis than the U.S., reflecting a second wave of virus outbreaks.
That’s even as U.S. case rates climb from an alarmingly high post-summer plateau trib.al/hQxu8YS
Both regions are at a dangerous moment:
❄️The virus will be harder to control in winter as people congregate indoors
🙅🏻♀️Resistance to renewed restrictions may make them harder to impose and enforce trib.al/hQxu8YS