Be fearful when others are greedy and greedy only when others are fearful. - Warren Buffett

The digital economy refers to an economy based on digital computing technologies. The most valuable resource in a digital economy is not labor or capital, but highly talented, innovative people. For example, Jeff Bezos started Amazon as an online bookstore in 1994 and Steve Job started Apple from his father’s garage. Digital technologies make labor and capital become commodities as innovators and entrepreneurs reap a bigger share of rewards from ideas. A small number of players reap a very large share of the rewards, up-ending the global economy with their winner-take-most returns. Whenever a product, service or process is captured in software and digitized, they become digital capital and their business can be scaled up and expanded quickly. They can be perfectly replicated and transmitted almost instantaneously anywhere in the world at marginal costs. And network effects make them more valuable the more users they have such as Facebook and Whatsapp. A small number of companies dominate the rest of their competitors in their particular market and generally take over 70% of total market share leaving everyone else to split the remaining 30%. Facebook is the dominant social media platform which lets you post your photos, social activities, and create a network of friends. In turn, Facebook collects and sells your data to advertisers. Facebook market share of social media is 69.9% and its competitors, Twitter and Pinterest, have market share of 9.6% and 8.9% respectively. Other examples include Google which dominates the market with its search engine platform and Amazon which is a market leader in the e-commerce market. Winners are winning at almost triple the speed since 2000, while losers are losing faster than ever. A company destined to reach a $1 billion dollar valuation, will do so now in one-third the time that it would have taken it just a dozen years ago– 2.9 years in the 2009-2013 era versus 8.5 years in the 2000-2003 era. The digital economy has allowed many technopreneurs to become billionaires at a much faster speed compared to entrepreneurs running a traditional business. For example, Lee Ka Shing with a net worth of USD$31.9 billion took 65 years to make his fortune through his group of companies, such as Cheung Kong and Hutchison Whampoa. Jack Ma a Chinese technopreneur started Alibaba in 1999 and he took 16 years to make his fortune of USD$29.7 billion. In the digital economy, information technology and online access have created a level playing field for retail investors. Smart phones, smart tablets, internet, and social media have allow investors to get financial information, ideas, news, and stock tips on a 24/7 basis. WhatsApp, Twitter and Telegram have made it easy for investors to share investment ideas and research. Financial websites such as Bloomberg, Reuters, and Yahoo Finance provide investors with a huge amount of economics, business and financial news to support their investment decision. Investment tools like Seeking Alpha and Guru Focus provide investors with stock analysis tools and risk assessment of their portfolio. The knowledgeable retail investors who are willing to embrace digital technology, social media, and the internet and put in effort to do some basic research will be rewarded with good investment returns. Back in 2015, I was reading the MIT Technology Review which listed the 50 smartest companies of the year. Number 1 on the list was Tesla. Netflix, Google, Amazon and Apple were listed at number 10, 12, 13 and 16 respectively. Chinese companies like Xiaomi, Alibaba, Tencent and Baidu were listed at number 2, 4, 7 and 21 respectively. If you have put effort in tracking and studying the development of these companies and invested in them, you would have achieved multi-bagger (more than 100%) return on your investment today. The following chart shows the market capitalization (number of shares multiplied by share price) of some of these “Top 50 Smartest Companies” from 2015 to 2021 to give you an idea of how much they are worth now:The above chart shows that Amazon, Alphabet and Apple have become a one trillion market capitalization company since 2020. The companies that have potential to grow to a one trillion market capitalization company are Facebook, Tesla, Alibaba, and Tencent. It is worthwhile to track the development of Netflix, Nvidia, Xiaomi, and Baidu as they have potential to achieve a multi-bagger return in future. Recently, I read the list of “10 Breakthrough Technologies 2021” published by MIT Technologies Review. 1. Messenger RNA Vaccine 2. GPT-3 3. Tik-Tok Recommendation Algorithms 4. Lithium-Metal Batteries 5. Data Trust 6. Green Hydrogen 7. Digital Contact Tracing 8. Hyper-Accurate Positioning 9. Remote Everything 10. Multi-Skilled AI. Based on the list of “10 Breakthrough Technologies 2021,” two companies that come to my mind are Moderna and Tik Tok. Moderna has a messenger RNA technology platform for vaccines development and its current market capitalization of US $63 billion has good potential to go up as it rolls out more novel vaccines in future. Tik-Tok is a social media platform for creating, sharing and discovering short videos. Tik Tok is owned by China-based ByteDance which is considering a public listing this year. In conclusion, knowing what the digital economy is all about and taking an interest to read up on technological trend and reviews can offer you good insight and invest in the future to make your multi-bagger return. With a smart phone and laptop, one can easily find the latest information and research reports to invest in future business winners.

Why are feminists liberals? Those who want male female equality in power presumably think power is a good thing, in which case more power should be better maybe feminists should want equal power authoritarian systems. Maybe current feminists dislike authoritarian systems because these are dominated by men. Once equality is achieved, they would prefer more power at the top, like Lenin, whose brother was an anarchist, and he was totalitarian once in power.

Do feminists oppose prostitution? Should women be free to use their bodies to earn income? Despite the logic, at least some feminists argue that prostitution is a form of rape, that the sex workers do something they would normally not be willing to do, that being paid to do it is a form of coercion,

Censorship is associated with authoritarianism, so for now at least, feminists are against censorship. What about censorship against pornography? Here again feminists usually say pornography too is a form of rape, that money is the coercive factor. However, in porn videos both men and women are paid who is raping who? In videos one man has sex with several women it shows inequality but there are also stories in which one woman has sex with several men. Is that female exercising power over male? I believe feminists have much to logically work out.

A couple of years ago the Singapore government was promoting an electronic payment system, and showed an advertisement in which a politician dressed up as several characters to show everyone can use the system. it was attacked as racist because a Chinese man dressed up as men of other races curiously, no feminist protested that he dressing up as woman was sexist. Feminists need to work harder

It is often said "one man's terrorist is another man's freedom fighter". The publisher of Playboy Magazine was in fact something of a terrorist. His magazine would now an then be banned by a city official, and sellers get arrested women organizations, usually right wing ones, protest the immorality - left wing women were often unsure whether taking off clothes for money is liberation and empowerment, or objectification judges would now and then be asked to pronounce on legal issues of whether nudity is art or free expression in any case, Hefner was in the forefront of movement cutting down censorship in America - over several decades and many test cases, censorship retreated, and Hefner took credit as the great liberator.

More significantly, he actually set himself up as a social philosopher, writing at length about his hedonistic lifestyle's merits I am not sure how many people took him seriously, or even actually read his numerous Playboy Philosophy articles. He certainly practised what he preached, having one new girlfriend after another (sometimes several at the same time) in his 70s he tried to marry for the fourth time but his wedding was cancelled when the bride failed to show up she did briefly go back to him however no wedding took place eventually.

History has not been kind to him. The uncensored social environment meant steady expansion of porn availability, so that his stuff looked tame, old fashioned. Internet made monetization of published content more difficult He himself could no longer put his mind on management, so his daughter Christie from his first marriage came in as CEO for a period of time - she even went to China to open casino, but was not successful later his son from second marriage tried, and was still trying when dad passed away.

It is perhaps fitting that the most remembered photo about him will be trump on cover of Playboy. To balance, I show his portrait with first family.

In 1995 Singapore was not the familiar name internationally that it is today Lee Kuan Yew made his speech to Congress 10 years earlier his interview with William Safire was still 4 years into the future nobody knew the momentous change occurring in China was based on the LKY model of one party rule with capitalism nor Trump and Kim Jong Un would summit there so it was big news that a porn star from Singapore would achieve world record of biggest gang bang. Reporters quickly discovered that she was a Raffles Girls School graduate called Grace Quek, whose family still lived in Singapore. However, due to the still conservative social atmosphere, the news was treated in a low key fashion her I do not know whether she was disappointed or relieved.

In 1995 pornography was not yet a throwaway commodity you could not get free downloads of videos, but have to buy them, in tape or VCD (DVD was not yet available) since pornography is officially banned, there are no shops where you could buy them, and web purchase still got deliver and custom issues. I would guess very few people saw the video, again maybe causing disappointment or relief to her.

At the time she was a graduate student in University of Southern California she said she wanted to specialize in women's studies, which presumably involved liberation or empowerment through sex she later learn to write computer programs (while waiting for her turn to go on stage as exotic dancer) and developed a business she stayed in Marina Bay Sands three years ago when she returned to Singapore to visit her mother so I assume she is going fine operating her business I do not know whether she earns income from subscriptions and video downloads of her porn videos.

I have always been morally indifferent about pornography and prostitution even suggested several times that better brothels in Singapore might help families to stay together with husbands finding alternatives to extramarital affairs.