I can’t believe this…

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Paul Krugman in the NYTimes

But Washington isn’t just confused about the short run; it’s also confused about the long run. For while debt can be a problem, the way our politicians and pundits think about debt is all wrong, and exaggerates the problem’s size.

Deficit-worriers portray a future in which we’re impoverished by the need to pay back money we’ve been borrowing. They see America as being like a family that took out too large a mortgage, and will have a hard time making the monthly payments.

This is, however, a really bad analogy in at least two ways.

First, families have to pay back their debt. Governments don’t — all they need to do is ensure that debt grows more slowly than their tax base. The debt from World War II was never repaid; it just became increasingly irrelevant as the U.S. economy grew, and with it the income subject to taxation.

Second — and this is the point almost nobody seems to get — an over-borrowed family owes money to someone else; U.S. debt is, to a large extent, money we owe to ourselves.

I am speechless. Debt that does not have to be paid back and if – it has to be paid back to ourselves? This is dangerous.

 

I guess someone agrees with me…

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Forrester on social/lifestyle apps:

He believes that the current crop of trendy social businesses like the location-based, check-in social network, Foursquare, are “nonsense” — and they will eventually be swept away in a new “post-social era”. This is because these services require more time of users… time that users cannot give.

Colony says that people in the Western world are “using social” more than they are volunteering, praying, using the phone, emailing and exercising. In fact we are using social just a little bit less than shopping and childcare.

“We believe social is running out of hours. We’ve reached the limit of hours that people can give to social,” he says.

 

I agree, as I mentioned earlier, that we do not have space nor time to check-in to 3 – 4 different apps. I still struggle with seeing Facebook take this one. Mobile is about simplicity and ease of use. I’d argue Facebook is not good in either.

Does your phone know more about your lifestyle than you do?

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In the past few weeks I have been playing around with a number of interesting new mobile apps on my iPhone. I have started calling them “Lifestyle apps” for a number of reasons. First of all they are primarily mobile and as such I have them always with me – ready to be used when I whip up my iPhone. Second, they have a very basic and simple use  case – they collect information about how, were and with whom I spend my time. Third, they are inherently social – I can share the above mentioned information with my friends, family and anyone else who cares. They may have different approaches to how they do this but one way or another they know more about my lifestyle than anyone else. So what are they?

OINK
This is a little new app from a company called Milk, started by entrepreneur and investor Kevin Rose. The main idea of Oink is to allow you to rate anything, anywhere. You go around places and Oink stuff. Slowly you build up credibility in certain areas (I am going after hamburgers and coffee) and with the amount of Oinks growing, your opinion matters more and more in rankings of products, services, etc… I guess what the creators are trying to build is a universal ranking system for any experience by mining the user generated Oinks (sounds dirty). The app is beautiful and rather easy to use. There is not much content in it yet (in Europe) so I wouldn’t go there looking for recommendations just yet. But the experience is great and I think they are on to something.

Path
If there was a contest for the most beautiful app on the iPhone (now that I think about it, there probably is) I’d vote for Path. The user experience and design on the new 2.0 version of Path for iPhone are amazing. The core job of Path is to track your life via different types of content you share with the app. At any point in time you can open the app and take a picture, share your location, say who you are with, just write a note and other things. This content is placed on a simple timeline with date and time tags that track you better than the FBI. The idea attracts me because it is much more personal in a sense that you are collecting this information for yourself as a kind of journal. You could in theory go to the app in 20 years and track where you have been and scroll through your encounters and experiences. I don’t see any rankings, recommendations or algorithms that would hint at a business model for the company which actually makes me feel better about the app.

Foursquare
I guess most people have heard of Foursquare by now. If not, know just that it is the first successful location based app that won the contest for THE check-in app against Gowalla (acquired last week by Facebook). This app takes a different approach to your lifestyle than the others – it is about gamefication. You check-in at different locations, score points for various things (100th hamburger joint in 100 days,…), leave tips about them and share with friends. The point I guess is to be the go to place for location. What attracts most people is who leads in the rankings of most check-ins and points, which to be honest is not that big with me. I do check the app for interesting tips when I am traveling though.

Instagram
The last of the apps I will mention may seem more of a photography app than lifestyle. But don’t be fooled – Instagram is one of the most popular iPhone apps because it combines a classy design, artsy feel and easy to use user interface. Taking a picture with it and making it look great is very easy and many people use it as a consequence. But most people don’t realize that an important part of Instagram is the fact that you share your location (if you want) when taking a picture and that you are sharing it on Facebook, Twitter and others. As such Instagram has a trail of where you have been and what did you experience in the form of a beautiful stream of pictures shared on social networks.

So why did I just spend a lot of your time with a simple description of these apps?

Once you start using them you will realize that there isn’t space for 4 of them and trust me there are a lot more of them on the App Store. I felt ridiculous at dinner today, checking in with 4 of them, taking pictures with each and writing different statuses. And I don’t think people want to take a picture, write some text and share their location with each service in the same way. They want a specific simple experience of tracking their lifestyle and sharing it with friends. So I think we will experience a boom of these lifestyle apps in the near term after which there will be consolidation in the market and we will have a few winners and a lot of losers (Gowalla was maybe the first to go, though being acquired by Facebook isn’t bad I guess).  What I do find interesting is the different approaches the four I mentioned have to tackling the same problem. Will the less complex single use case apps like Instagram beat the more sophisticated ones like Path or Oink?

What do you think? Do you track your life in an app?

One more thing: I found really surprising is that I did not use Facebook to check-in, take a picture or write a status update. For me Facebook is not a mobile app. It is too cluttered, crude, generic and confusing. Maybe it is just me but I don’t use it to create content, I just feed it from the other apps. Should that worry Mark Zuckerberg? Maybe, maybe not – he always said Facebook is a platform for sharing and connecting.

Using an iPad 2 as the go-to computer

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Harry McCracken of Technologizer.com fame has an interesting post up on how he switched to the iPad2 as his primary computer. He writes:

And it was one specific thing about the iPad that made it so useful on the trip: I could use it for ten hours at a pop without worrying about plugging it in.

I can’t overemphasize how important this is to my particular workdays. Even when I’m not traveling, I spend a lot of time bopping around San Francisco and the Bay Area, attending conferences, visiting tech companies, working out of hotel lobbies, and generally having spotty access to power outlets. With the Air, or almost any other portable computer I’ve ever used, I’m lucky to get three or four hours of life out of a charge, and therefore have to bring my power brick and obsess about plugging in whenever possible. It’s an enormous hassle, and sometimes I simply run out of juice.

I wrote a post about my vacation in Spain and how the iPad2 became the most important device on that trip a few weeks back and I think McCracken’s post just confirms it. It is not processor speed, hard disk capacity or screen size that makes or breaks a digital device. It is whether you can use it at all or not. The iPad2′s amazing battery life and durability makes it a computer that you really can have with you and use all the time with out the fear of running out of juice. There is a prolific saying: “The best camera is the one you’ve got with you.” I think most of you will agree – the same goes for computers.