Chuck Templeton: OpenTable

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pages: 383 words: 81,118

Matchmakers: The New Economics of Multisided Platforms by David S. Evans, Richard Schmalensee


Airbnb, Alvin Roth, big-box store, business process, cashless society, Chuck Templeton: OpenTable, creative destruction, Deng Xiaoping, if you build it, they will come, information asymmetry, Internet Archive, invention of movable type, invention of the printing press, invention of the telegraph, invention of the telephone, Jean Tirole, John Markoff, Lyft, M-Pesa, market friction, market microstructure, mobile money, multi-sided market, Network effects, Productivity paradox, profit maximization, purchasing power parity, QR code, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, Steve Jobs, Tim Cook: Apple, transaction costs, two-sided market, Uber for X, Victor Gruen, winner-take-all economy

The history of OpenTable here draws on a number of sources, including Chuck Templeton (founder of OpenTable), in discussions with the authors, 2015; “OpenTable Founder Chuck Templeton on Starting Up,” interview by Katie Morell, OpenForum (June 23, 2015),; “Video: OpenTable Founder Chuck Templeton at Chicago Founders’ Stories @ 1871,” interview by Pat Ryan (April 25, 2013),; Andrew Rachleff and Sara Rosenthal, “OpenTable,” Case E418 (Palo Alto, CA: Stanford Graduate School of Business, November 18, 2011); Benjamin Edelman and Karen L. Webster, “Optimization and Expansion at OpenTable,” Case 9-915-003 (Boston: Harvard Business School, March 9, 2015); and Maha Atal, “OpenTable—The Hottest Spot in Town,” Fortune, August 14, 2009, 2.

Unless otherwise noted, all monetary values we report are not adjusted for inflation. 9. “USA: Names James Jeffrey Edwards CEO,” just-food, May 18, 2000, 10. Chuck Templeton (founder of OpenTable), in discussion with the authors, September 19, 2015. 11. Ibid. OpenTable started this strategy systematically in New York and then used it in other cities later. 12. Erick Schonfeld, “OpenTable Has a Healthy IPO. Shares Shoot Up 59 Percent, Market Cap Passes $600 Million,” TechCrunch, May 21, 2009, 13. OpenTable, “Press Room,” 14. David S. Evans and Richard Schmalensee, Paying with Plastic, 2nd ed.

If OpenTable had taken advantage of this demand and had charged diners for reservations, one might think it could have made more money. But it didn’t, and it hasn’t. “Free” wasn’t some temporary promotional gimmick. OpenTable hasn’t ever charged diners a penny. On the other hand, if diners are so valuable that OpenTable finds it optimal to pay them (via rewards) to use its service, why does it refuse to deal with some of them? If a diner fails four times in a year to show up for a reservation that she has not canceled at least thirty minutes in advance, her account is terminated, even if she’s kept many reservations that made OpenTable money.17 Then there’s the fact that OpenTable, which met obvious needs of both diners and restaurants, barely survived. Chuck Templeton had a great idea. And developing a website and table management software was hardly rocket science, even back then. Yet the company almost died three years after its birth because it couldn’t solve the chicken-and-egg problem.

pages: 270 words: 79,180

The Middleman Economy: How Brokers, Agents, Dealers, and Everyday Matchmakers Create Value and Profit by Marina Krakovsky


Affordable Care Act / Obamacare, Airbnb, Al Roth, Black Swan, buy low sell high, Chuck Templeton: OpenTable, Credit Default Swap, cross-subsidies, crowdsourcing, disintermediation, diversified portfolio, experimental economics, George Akerlof, Goldman Sachs: Vampire Squid, income inequality, index fund, information asymmetry, Jean Tirole, Kenneth Arrow, Lean Startup, Lyft, Marc Andreessen, Mark Zuckerberg, market microstructure, Martin Wolf, McMansion, Menlo Park, Metcalfe’s law, moral hazard, multi-sided market, Network effects, patent troll, Paul Graham, Peter Thiel, pez dispenser, ride hailing / ride sharing, Robert Metcalfe, Sand Hill Road, sharing economy, Silicon Valley, social graph, supply-chain management, TaskRabbit, The Market for Lemons, too big to fail, trade route, transaction costs, two-sided market, Uber for X, ultimatum game, Y Combinator

Not every restaurant has come on board—whereas diners can use the service for free, restaurants have to pay a monthly fee and a smaller fee for each seat booked through OpenTable—but, despite some competition, the service has a vast reach, especially across cities in the United States. Through the service, restaurants can attract more diners, and by taking online reservations up until the last minute, they can reduce idle capacity. Diners win, restaurants win, and OpenTable wins. When Chuck Templeton founded OpenTable in 1998, though, the concept was so novel that restaurants resisted, he says. “Nobody understood the Internet back then,” he recalls.8 To make it easy for diners to try out the service, reservations required nothing more than a first and last name and an e-mail address, and a diner could sign up as something like “So everyone had this concern that there were these anonymous reservations, and the no-show rate would be really high.” No-shows are a perennial bane for restaurants: if someone makes a reservation and doesn’t show up, those seats, which could have gone to a real customer, are lost forever.

“I absolutely have had clients try to pull fast ones,” says Adams, “and usually we have to push back.” Pushing back naturally risks angering the client, which business people are loath to do. For example, Chuck Templeton, the founder of OpenTable, told me that as much as he wanted to protect the interests of both diners and restaurants, that wasn’t always possible, so when push came to shove, the company would rather not lose a restaurant partner, because, as he put it, “The restaurant is the one paying the bill.” But an agency model, who is probably more valuable to an agency than an individual diner is to OpenTable, does expect the agency to protect her interests against an opportunistic client. Sometimes, despite the agency’s attempts to be evenhanded in these disputes, the agency will be caught in the middle, with both sides feeling that the agency didn’t treat them fairly.

Burnham and Brian Hare, “Engineering Human Cooperation,” Human Nature 18, no. 2 (June 2007): 88–108. 6.Melissa Bateson, Daniel Nettle, and Gilbert Roberts, “Cues of Being Watched Increase Cooperation in a Real-World Setting,” Biology Letters 2, no. 3 (September 2006): 412–14. 7.The most complete discussion of this argument is by Ara Norenzayan, Big Gods: How Religion Transformed Cooperation and Conflict (Princeton: Princeton University Press, 2013). 8.Interview with Chuck Templeton, March 12, 2014. 9.Some middlemen businesses are trying to change that: it seems easier for highly popular restaurants to get away with asking for deposits. But even so, many customers balk. See Marshall Heyman, “New Services to Score Prime Reservations,” Wall Street Journal, April 15, 2014. 10.Andrei Hagiu, “Quantity vs. Quality: Exclusion by Platforms with Network Effects,” Harvard Business School Working Paper, 11–125. 11.Julia Angwin, “Putting Your Best Faces Forward,” Wall Street Journal, March 28, 2009. 12.Note the difference between pseudonymity and anonymity; by giving users the opportunity to establish a track record under a given pseudonym, a system that allows pseudonyms combines the best features of anonymity with the best features of real names.

pages: 302 words: 73,581

Platform Scale: How an Emerging Business Model Helps Startups Build Large Empires With Minimum Investment by Sangeet Paul Choudary


3D printing, Airbnb, Amazon Web Services, barriers to entry, bitcoin, blockchain, business process, Chuck Templeton: OpenTable, Clayton Christensen, collaborative economy, commoditize, crowdsourcing, cryptocurrency, data acquisition, frictionless, game design, hive mind, Internet of things, invisible hand, Kickstarter, Lean Startup, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, means of production, multi-sided market, Network effects, new economy, Paul Graham, recommendation engine, ride hailing / ride sharing, shareholder value, sharing economy, Silicon Valley, Skype, Snapchat, social graph, social software, software as a service, software is eating the world, Spread Networks laid a new fibre optics cable between New York and Chicago, TaskRabbit, the payments system, too big to fail, transport as a service, two-sided market, Uber and Lyft, Uber for X, Wave and Pay

The network, then, complements the standalone value powered by the initial product/service offering. OPENING IT UP LIKE OPENTABLE OpenTable (and subsequently, other service booking systems) was one of the first platforms to execute this successfully. Entering a highly fragmented market (restaurant), the company distributed booking management systems, which the restaurant could use as standalone software for managing table reservations. This enabled OpenTable to aggregate table inventory, and real-time data on table availability, across restaurants. Once it had enough restaurants on board – and, hence, access to their seating inventory, as well – it opened out the network to allow consumers to start booking tables at participating restaurants. By staging the network creation in this manner, OpenTable succeeded in aggregating a fragmented, technology-laggard vertical, like restaurants, on one central platform, something that may not have been possible if it had started by launching the entire platform and hoping for network effects to kick in.

By staging the network creation in this manner, OpenTable succeeded in aggregating a fragmented, technology-laggard vertical, like restaurants, on one central platform, something that may not have been possible if it had started by launching the entire platform and hoping for network effects to kick in. In OpenTable’s case, the standalone model also provides additional revenue streams for the business, in addition to the lead generation fee that it charges for customer reservations. This model has been successfully replicated across multiple industries, which exhibit the same characteristics of inefficiencies created due to fragmentation. The standalone mode helps aggregate the players onto a central platform, and consumer access is subsequently enabled to create network effects. The standalone mode serves to create a central creation infrastructure for participants to create and manage inventory, e.g. the inventory of seating availability, in the case of restaurants on OpenTable. Referring to the architectural discussions in Section 2, the standalone mode allows the creation and accumulation of core value units.

It is almost impossible to create network effects across two networks without data-layer integration. GROWTH AND SPILLOVER Networks that achieve platform scale encourage spillover. Airbnb, unlike Uber and OpenTable, has tremendous potential for spillover. The travel use case makes such spillover organic to the network. The host and traveler will often be part of different cities. Such cross-city interaction allows rapid growth, without the creation of insular clusters, although some clusters may still exist. For example, travelers from Europe may travel more often within Europe, however, many travelers will venture further abroad and clusters will, consequently, show higher overlap. In contrast, Uber and OpenTable need to start operations from the ground up in every city every time they want to scale geographically. Uber does benefit from a growing brand awareness but that alone is not enough.

pages: 421 words: 110,406

Platform Revolution: How Networked Markets Are Transforming the Economy--And How to Make Them Work for You by Sangeet Paul Choudary, Marshall W. van Alstyne, Geoffrey G. Parker


3D printing, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, Amazon Mechanical Turk, Amazon Web Services, Andrei Shleifer, Apple's 1984 Super Bowl advert, autonomous vehicles, barriers to entry, big data - Walmart - Pop Tarts, bitcoin, blockchain, business process, buy low sell high, chief data officer, Chuck Templeton: OpenTable, clean water, cloud computing, connected car, corporate governance, crowdsourcing, data acquisition, data is the new oil, digital map, discounted cash flows, disintermediation, Edward Glaeser, Elon Musk,, Erik Brynjolfsson, financial innovation, Haber-Bosch Process, High speed trading, information asymmetry, Internet of things, inventory management, invisible hand, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, Khan Academy, Kickstarter, Lean Startup, Lyft, Marc Andreessen, market design, Metcalfe’s law, multi-sided market, Network effects, new economy, payday loans, peer-to-peer lending, Peter Thiel,, pre–internet, price mechanism, recommendation engine, RFID, Richard Stallman, ride hailing / ride sharing, Robert Metcalfe, Ronald Coase, Satoshi Nakamoto, self-driving car, shareholder value, sharing economy, side project, Silicon Valley, Skype, smart contracts, smart grid, Snapchat, software is eating the world, Steve Jobs, TaskRabbit, The Chicago School, the payments system, Tim Cook: Apple, transaction costs, two-sided market, Uber and Lyft, Uber for X, winner-take-all economy, zero-sum game, Zipcar

Create a business around products or services that benefit a single set of users; later, convert the business into a platform business by attracting a second set of users who want to engage in interactions with the first set. Launching a service booking platform like OpenTable, the restaurant reservation system, poses a classic chicken-or-egg problem. Without a large base of participating restaurants, why would patrons visit the OpenTable site? But without a large base of patrons, why would restaurants choose to participate? OpenTable solved the problem by first distributing booking management software that restaurants could use to manage their seating inventory. Once OpenTable had enough restaurants on board, they built out the consumer side, which allowed them to start booking tables and collecting a lead generation fee from the restaurants. The Indian bus reservation platform redBus gained traction in a similar manner.

Airbnb encouraged users with rooms to rent (hosts) to list their offerings (value units) on Craigslist (external network). Those who saw the room listings (recipients) and were motivated to rent those rooms became Airbnb users—and many subsequently began renting out rooms of their own, fueling the growth of the platform. OpenTable similarly encourages diners (hosts) to share their dinner reservations (value units) over email or Facebook (external networks) with their friends and colleagues (recipients) who are joining them for dinner. If you’re a platform manager hoping to achieve the same kind of viral growth as Instagram, Airbnb, and OpenTable, you need to design rules and tools that will jumpstart the cycle. Your goal is to design an ecosystem where senders want to transfer value units through an external network to a large number of recipients, ultimately leading many of those recipients to become users of your platform.

Then he used risk-adjusted cash flows to come up with a company valuation of $5.9 billion. With admirable forthrightness, he even posted his spreadsheet online so others could examine and test his assumptions. Bill Gurley, a partner at Benchmark Capital and one of Uber’s Silicon Valley investors, took up the challenge. A venture capitalist famous for having been among the first to spot such technology skyrockets as OpenTable, Zillow, and eBay, Gurley argued that the $17 billion valuation was likely an underestimate, and that Damodaran’s figure could be short by a factor of 25.2 Gurley questioned Damodaran’s assumptions about both the total market size and Uber’s potential market share, basing his calculations on economist W. Brian Arthur’s analysis of network effects.3 In classic platform style, Uber performs a matching service.

pages: 398 words: 86,855

Bad Data Handbook by Q. Ethan McCallum


Amazon Mechanical Turk, asset allocation, barriers to entry, Benoit Mandelbrot, business intelligence, cellular automata, chief data officer, Chuck Templeton: OpenTable, cloud computing, cognitive dissonance, combinatorial explosion, commoditize, conceptual framework, database schema,, Firefox, Flash crash, Gini coefficient, illegal immigration, iterative process, labor-force participation, loose coupling, natural language processing, Netflix Prize, quantitative trading / quantitative finance, recommendation engine, selection bias, sentiment analysis, statistical model, supply-chain management, survivorship bias, text mining, too big to fail, web application

While this classical training remains invaluable, the cold reality of the real world was waiting. Moving On to the Professional World My history with data has been varied throughout my career. Early on at OpenTable, we lacked holistic insight into the value of our data; we were completely focused on creating a new company. During those early years, it seemed as if decisions and strategies changed daily. Software development was in high gear and the competition was always nipping at our heels. There was little thought as to what we should collect, the form it should come in, and certainly not how we should extract it. However, as OpenTable matured and repeatedly worked through our mistakes, we started to smarten up. A few years in, we hired an experienced engineering vice president who started to add rigor and a plan to the chaotic system.

Furthermore, as there were limits to what one could retain, these choices often framed and limited the type of quality leading to easier datasets. As my career at OpenTable was ending, many critical points in the world of data came together. First, we started to see a steep decline in the price of hardware and the notion of white-box computing starting to emerge. Additionally, cloud computing became an immediate game-changer in the realm of provisioning. Lastly, a few years later, we started to see some of the brilliance that would lead to the possibility of truly big data.[57] When you mix these concepts with architectures like Hadoop and the NoSQL database family, you realize that you have the ability to capture enormous amounts of data, much of which may be “bad.” It is certainly speculative—and, as always, hindsight is 20/20—but I can think of many things that we might have done differently at OpenTable if the tools of today were a reality when we started to build the company.

It is certainly speculative—and, as always, hindsight is 20/20—but I can think of many things that we might have done differently at OpenTable if the tools of today were a reality when we started to build the company. However, in as much as OpenTable proved to be a successful venture of which we are all very proud, I will refrain from speculating about this alternative reality. Moving into Government Work Making the transition into the public sector offered an entirely different perspective on data. OpenTable was a small and nimble company, in which we could easily change course. As I entered the enormous bureaucracy of one of the biggest cities in the United States, which had decades of information legacy systems, I was confronted with an entirely different platform and a nontrivial amount of dirty data. What is dirty data? It has several definitions. First, it is data that is simply incorrect. Value X should equal 1, but in in your structure it is equal to 2.

pages: 215 words: 55,212

The Mesh: Why the Future of Business Is Sharing by Lisa Gansky


Airbnb, Amazon Mechanical Turk, Amazon Web Services, banking crisis, barriers to entry, carbon footprint, Chuck Templeton: OpenTable, cloud computing, credit crunch, crowdsourcing, diversification, Firefox, fixed income, Google Earth, industrial cluster, Internet of things, Kickstarter, late fees, Network effects, new economy, peer-to-peer lending, recommendation engine, RFID, Richard Florida, Richard Thaler, ride hailing / ride sharing, sharing economy, Silicon Valley, smart grid, social web, software as a service, TaskRabbit, the built environment, walkable city, yield management, young professional, Zipcar

The new networks do not manage only strictly digital products, such as e-books; they can now connect you to physical products and services, like a hot meal (which to date can only be digitalized on Star Trek). OpenTable, for example, is a restaurant reservation system with a mobile phone app. Say you’re leaving a movie downtown. The mobile phone app will locate where you are standing and map nearby restaurants with available tables. You can look over the menu and reviews, get directions, and make a reservation while you’re headed toward the restaurant. The mobile network locates and connects you in time and space with a physical place, the restaurant. The social network, in the form of online reviews by other diners and friends, informs your choice. If you text a note to the restaurant, you might find a physical product—perhaps a dish of spicy Szechuan noodles—hot and waiting when you arrive. Meanwhile, OpenTable and its network of restaurants learn over time, particularly if you send in reviews, which restaurants you, or people like you, prefer.

They are using what we’ve collectively learned about what works in a Web business for digital products and applying it to the sharing of physical products. This is the next phase. The mobile Web helps users locate a product to share, or people to share with. In most cases, a person actually has to get up from her chair to participate—it’s a physical experience, not just a virtual one. By linking the Web, mobile technology, and physical venues and products, the relevant offers can be located in a specific place and time. Just as someone uses the OpenTable app to make a last-minute restaurant reservation on a mobile phone, he can make a date with a bike, tool, or car. their billions. our inheritance. or, who’s that standing on my shoulders? Mesh businesses also begin with a huge technical advantage. The billions spent in developing the Internet, mobile infrastructure, and certain large platforms—such as Amazon, Google, 3G, Facebook, PayPal, and eBay—have lowered the financial and time barriers for starting new businesses.

Cisco estimates traffic over the Internet will exceed 667 exabytes by 2013. That’s roughly 667 billion gigabytes and equates to a quintupling of traffic from 2009 to 2013. Cisco predicts that one trillion devices will be connected to the Internet by that time. This invisible network enables a level of service and ad hoc coordination that is brand-new. That’s how Spride Share helps riders share taxis, how OpenTable enables last-minute restaurant reservations, and how Groupon makes spontaneous, time-limited deals between groups of users and businesses. It’s now hard to move around the planet without having mobile coverage. Sharing physical things is more realistic now that we’ve spent ten-plus years getting very comfortable with the always-on, always-with-me sensation of the Web and mobile devices. The new connectedness has inspired and enabled companies to glean important data from customers to customize offerings—for iTunes to suggest songs, for example, and LinkedIn to connect like-minded professionals seeking business opportunities and employment.

pages: 410 words: 119,823

Radical Technologies: The Design of Everyday Life by Adam Greenfield

3D printing, Airbnb, augmented reality, autonomous vehicles, bank run, barriers to entry, basic income, bitcoin, blockchain, business intelligence, business process, call centre, cellular automata, centralized clearinghouse, centre right, Chuck Templeton: OpenTable, cloud computing, collective bargaining, combinatorial explosion, Computer Numeric Control, computer vision, Conway's Game of Life, cryptocurrency, David Graeber, dematerialisation, digital map, distributed ledger, drone strike, Elon Musk, ethereum blockchain, facts on the ground, fiat currency, global supply chain, global village, Google Glasses, IBM and the Holocaust, industrial robot, informal economy, information retrieval, Internet of things, James Watt: steam engine, Jane Jacobs, Jeff Bezos, job automation, John Conway, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John von Neumann, joint-stock company, Kevin Kelly, Kickstarter, late capitalism, license plate recognition, lifelogging, M-Pesa, Mark Zuckerberg, means of production, megacity, megastructure, minimum viable product, money: store of value / unit of account / medium of exchange, natural language processing, Network effects, New Urbanism, Occupy movement, Oculus Rift, Pareto efficiency, pattern recognition, Pearl River Delta, performance metric, Peter Eisenman, Peter Thiel, planetary scale, Ponzi scheme, post scarcity, RAND corporation, recommendation engine, RFID, rolodex, Satoshi Nakamoto, self-driving car, sentiment analysis, shareholder value, sharing economy, Silicon Valley, smart cities, smart contracts, sorting algorithm, special economic zone, speech recognition, stakhanovite, statistical model, stem cell, technoutopianism, Tesla Model S, the built environment, The Death and Life of Great American Cities, The Future of Employment, transaction costs, Uber for X, universal basic income, urban planning, urban sprawl, Whole Earth Review, WikiLeaks, women in the workforce

You’ll learn that restaurants offering reservations via the service are “required to use the company’s proprietary floor management system, which means leasing hardware and using OpenTable-specific software,” and that OpenTable retains ownership of all the data generated in this way.10 You’ll also learn that OpenTable takes a cut on reservations made of one dollar per seated diner, which obviously adds up to a very significant amount on a busy night. Conscientious diners (particularly those with some experience working in the industry) have therefore been known to bypass the ostensible convenience of OpenTable, and make whatever reservations they have to by phone. By contrast, Google Home’s all but frictionless default to making reservations via OpenTable normalizes that option, the same way the appearance of Uber as a default option in the Google Maps interface sanctifies the choice to use that service.

This is how Google’s assistant works: you mention to it that you’re in the mood for Italian, and it “will then respond with some suggestions for tables to reserve at Italian restaurants using, for example, the OpenTable app.”9 This scenario was most likely offered off the top of the head of the journalist who wrote it. But it’s instructive, a note-perfect illustration of the principle that though the choices these assistants offer us are presented as neutral, they invariably arrive prefiltered through existing assumptions about what is normal, what is valuable, and what is appropriate. Their ability to channel a nascent, barely articulated desire into certain highly predictable kinds of outcomes bears some scrutiny. Ask restaurateurs and front-of-house workers what they think of OpenTable, for example, and you’ll swiftly learn that one person’s convenience is another’s accelerated work tempo, or worse.

Its manufacturer, however, had an interest in keeping its price low, and that meant that the camera shipped without effective provisions for controlling access to it. This in turn served yet another party’s interest: that of an intruder, who could probe the local network through this unsecured point of access, and see if there might not be something connected to it worth corrupting, or mobilizing as part of a botnet. These interests all contend in the camera from the first moment it’s plugged in, just as your interests and OpenTable’s and Google’s and a restaurateur’s all contend in the Home interface. What is being gathered together in a Tide-branded Amazon Dash Button? Crack open the case,22 and you’ll find a WiFi module and a microcontroller, a microphone, a memory chip and an LED, along with some other harder-to-identify components, all sandwiched on a printed circuit board. The cost of this bill of materials is such that Amazon almost certainly loses a little money with each unit sold—and that’s even before considering that they chose to subsidize its purchase in full with a $5 rebate on the first order made with it.23 So the first thing that’s folded up in the Dash Button is a business model: Amazon wouldn’t sell it at all if they didn’t know perfectly well they’ll be making a healthy profit on everything you buy, on each of the thousand or so occasions you’ll be able to press the button before its welded-in battery succumbs.

pages: 300 words: 65,976

The Gospel of Food: Everything You Think You Know About Food Is Wrong by Barry Glassner


Chuck Templeton: OpenTable, Gary Taubes, haute cuisine, income inequality, meta analysis, meta-analysis, New Urbanism, placebo effect, profit motive, Ralph Nader, randomized controlled trial, Saturday Night Live, stem cell, urban sprawl, working poor

His reservations staff also helped him keep track of VIPs by putting discreet codes beside their names in the reservation book.9 Managing that information—and much more about preferred customers—has become easier for places like Daniel and the French Laundry in recent years, thanks to a San Francisco– based company called OpenTable Inc., best known for its Web site,, through which, in principle, anyone can reserve a table at any of more than three thousand restaurants across the U.S. OpenTable’s appeal to restaurateurs like Boulud and Keller lies primarily in its data-tracking software rather than its reservations service. At sought-after restaurants, nearly all space at peak hours is held aside for VIPs. These restaurants tend to offer reservations at for their earliest seating or during slow seasons.

See for example “World’s 50 Best Restaurants,” Restaurant Magazine (June 2003). 9. Brenner, The Fourth Star, pp. 17 and 63. See also Steven Shaw, Turning the Tables (New York: HarperCollins, 2005). 10. Brenner, The Fourth Star, pp. 41–42; David Shaw, “They Have a File on You,” Los Angeles Times, April 23, 2003. Many restaurants value OpenTable for another reason. Labor and other costs make phone reservations about four times as costly to the restaurant as OpenTable reservations. “Online and InPerson: Tips for Living Like a VIP,” Wall Street Journal, June 14, 2005. 11. Mark Bittman, “A Taste of Los Angeles,” New York Times, May 7, 2003; Amanda Hesser, “The Chef,” May 7, 21, and June 4, 2003. On treatment of VIPs and regular patrons, see also Steven Shaw, Turning the Tables. 12. Rebecca L. Spang, The Birth of the Restaurant (Cambridge, MA: Harvard University Press, 2001) (quote is from p. 223). 13.

., 189, 259n. 24 types of food and, 176–79, 255n. 3 wealthier Americans and lower rate, 196–97, 263n. 55 weight loss and food marketing, 210–11 working mothers blamed, 181, 182, 257n. 16 Obesity Myth, The (Campos), 193 Oldways Preservation Trust, 6–8 olive oil and olives, 2, 209 Oliver, Jamie, 212 Omnivore’s Dilemma (Pollan), 70 O’Naturals, 168–71 customer profi le, 170 employees, 168 Ono restaurant, 101 OpenTable Inc., 97, 247n. 10 organic foods Cascadian Farm, 71–73 “expectancy confirmation,” xii farm cooperatives and, 64–65 food industry and, 62–63, 71–75, 245n. 15 health and environmental benefits, 64–65, 242n. 1 “industrial organic,” 72 lunch at expo, 64–65 milk, 62, 65 nutrients vs. nonorganic, 62 rejection of irradiation, 65–68 Rodale and, 63–64 small farmers and, 70–72 TV dinners, 71–72 Organic Gardening (Rodale), 63–64 Organic Valley cooperative, 64–65, 70 Ornish, Dean, 176 Orwell, George, 156 Palms Thai restaurant, 119 Panda Express restaurants, 137–41 best-selling item, 143 training of employees, 143 Paradise Tomato Kitchens, 81–83 pasta, dried vs. fresh, 83 282 Index Pastinelli, Madeleine, 128 Paz, Octavio, 128–29 peanuts, 211 peas, frozen vs. fresh, 83 Pepsico Aquafina water, 45 Mother’s Toasted Oat Bran Cereal, 48 Propel Fitness Water, 48 perfectionism, 200 food snobs and, 202–5 nutritional imperialists and, 201, 202 Per Se restaurant, 94–95, 109, 115 pesticides, 65 Peters, Lulu Hunt, 176 Petrini, Carlo, 220 Philip Morris, 48 Phillips Barbecue, 124 Phrack magazine, 148 Physicians Committee for Responsible Medicine (PCRM), 207 anti-Atkins Web site, 214 on beef, 213 studies sponsored by, 214 pineapple, 80–81 Pirate’s Booty, 53 pizza hunger-relief organizations and, 201 as perfect food, 201 Pizza Hut, 141, 142 placebo effect, 24 fortified water and, 46 pleasure in food absorption of nutrients and, 1–2 American attitude vs., 3 Americans sacrificing of, 197–98 bò 7 món, 228 gospel of naught vs., 4 as important for health, 1–3 potato and, 5–6 self-denial of, effects, 3–6 study on food attitudes and, 2–3 Plotkin, Mark, 64 Pochapin, Cheryl, 126 Poe, Tracy, 84–85 Pollan, Michael, 70–72, 74 countercuisine, 72 Pork Board, 32 Post, Charles W., 43 potato as anti-depressive, 4–5 contradictory opinions and, 7–8 as ethnic slur on Irish, 226 health risks of, perceived, 4 marketing health benefits, 211 nutritional and health benefits, 4–5, 6 pleasures of eating, 5–6 specialist farmers for, 110 Yukon gold, 6 Potatoes Not Prozac, 4–5 Powles, John, 21 Powter, Susan, 176 Probyn, Elsbeth, 43, 148 processed and frozen foods convenience of, 61, 84–87 feminism and, 85 history, 84–86 nutrients and, 83 organic TV dinners, 71–72 pineapple wedges breakthrough, 80–81 Procter & Gamble, 79 Propel Fitness Water, 48 Public Citizen, 67 Puck, Wolfgang, 97–99, 115, 116, 156 Putnam, Robert, 121 Putney Swope (fi lm), 43 Index 283 Quaker Oats, 52–53 Quorn, 68–70 R & D operations, 77–81 Burger King, 34–35, 146–47 Flavurence Corporation, 37–40 fresh pineapple wedges, 80–81 Rain restaurant, 41 Ravnskov, Uffe, 22 Reichl, Ruth, 89–90, 91, 92, 93, 112–13, 217, 246n. 5 Renaud, Serge, 2 Restaurant, The (TV show), 103–6, 247n. 21 restaurants.

pages: 422 words: 104,457

Dragnet Nation: A Quest for Privacy, Security, and Freedom in a World of Relentless Surveillance by Julia Angwin


AltaVista, Ayatollah Khomeini, barriers to entry, bitcoin, Chelsea Manning, Chuck Templeton: OpenTable, clean water, crowdsourcing, cuban missile crisis, data is the new oil, David Graeber, Debian, Edward Snowden, Filter Bubble, Firefox, GnuPG, Google Chrome, Google Glasses, informal economy, Jacob Appelbaum, John Markoff, Julian Assange, Marc Andreessen, market bubble, market design, medical residency, meta analysis, meta-analysis, mutually assured destruction, prediction markets, price discrimination, randomized controlled trial, RFID, Robert Shiller, Ronald Reagan, security theater, Silicon Valley, Silicon Valley startup, Skype, smart meter, Steven Levy, Upton Sinclair, WikiLeaks, Y2K, zero-sum game, Zimmermann PGP

I was able to convince some restaurants to give me a reservation without a phone number, by promising that I would call them to confirm the reservation. They said okay, and often if I forgot to call they still kept the reservation. But I found that lying was difficult for me: I got a little bit red and hot whenever I had to say the name Ida. I soon realized that Ida needed an OpenTable account—to book online reservations—so that I wouldn’t have to lie on the phone. But when I tried to sign up for OpenTable, it asked for a cell phone number. I knew that I should just enter a random phone number such as 212-555-1212, but somehow I couldn’t do it. I abandoned the sign-up screen. This was the same problem I had with passwords. The problem wasn’t the technology. The problem was my mind. * * * I’m a terrible liar. I squirm and I don’t make eye contact and my face gets hot and red.

Google had helpfully sorted my searches by date and by category (maps, travel, books, etc.), and they were a horrifying insight into what Buddhists call the “monkey mind,” leaping from place to place restlessly. Consider November 30, 2010: I started the day reading some technology news. Then, suddenly, I was searching for “Pink glitter tiny toms” for my daughter. Then I was off to the thesaurus to look up a word for an article I was writing, then to OpenTable to book a restaurant reservation, and then a visit to Congress to download the text of privacy legislation. Phew. My searches not only illuminated my inner thoughts, but they also revealed my whereabouts. A bunch of searches for “Berlin city map” were conducted during my trip to Berlin; “Hyatt Regency Pune” was in the midst of my annual trip to see my in-laws in India; my search for “DFW airport, Irving, TX → 3150 Binkley Ave., Dallas, TX 75205” was during a business trip to Dallas.

It took twenty seconds to launch in Tor and three seconds to launch in Firefox. At least I had plenty of time to sip my coffee as I browsed on Tor. I started by signing up for a free e-mail account for Ida from Microsoft’s I steeled myself and entered 212-867-5309 as her backup phone number (after the famous ’80s song by Tommy Tutone). I turned off Microsoft’s targeted ads feature. Feeling quite pleased with myself, I also set up an OpenTable account for Ida, using the Outlook address. I left the phone number entry blank. (I don’t know why that hadn’t occurred to me earlier.) And then I set up an account for Ida, using my friend’s mailing address and Ida’s credit card number. I declined Amazon’s offer to provide Ida with the “Amazon betterizer,” which would provide her with more personalized recommendations. The first book I ordered was a used copy of Surveillance in the Stacks: The FBI’s Library Awareness Program.

pages: 892 words: 91,000

Valuation: Measuring and Managing the Value of Companies by Tim Koller, McKinsey, Company Inc., Marc Goedhart, David Wessels, Barbara Schwimmer, Franziska Manoury


activist fund / activist shareholder / activist investor, air freight, barriers to entry, Basel III, BRICs, business climate, business process, capital asset pricing model, capital controls, Chuck Templeton: OpenTable, cloud computing, commoditize, compound rate of return, conceptual framework, corporate governance, corporate social responsibility, creative destruction, credit crunch, Credit Default Swap, discounted cash flows, distributed generation, diversified portfolio, energy security, equity premium, fixed income, index fund, intangible asset, iterative process, Long Term Capital Management, market bubble, market friction, meta analysis, meta-analysis, Myron Scholes, negative equity, new economy, p-value, performance metric, Ponzi scheme, price anchoring, purchasing power parity, quantitative easing, risk/return, Robert Shiller, Robert Shiller, shareholder value, six sigma, sovereign wealth fund, speech recognition, survivorship bias, technology bubble, time value of money, too big to fail, transaction costs, transfer pricing, value at risk, yield curve, zero-coupon bond

In Yelp’s case, the company has not disclosed internal cost forecasts, so we look to internal margin projections for OpenTable, another high-growth company actively serving businesses in local markets. OpenTable provides A VALUATION PROCESS FOR HIGH-GROWTH COMPANIES 739 EXHIBIT 32.7 Revenue Growth of Internet Start-Ups after Reaching $10 Million Threshold1 $ million 300 250 75th percentile Yelp 200 150 100 Median 50 25th percentile 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 1 Sample of 75 publicly traded Internet start-ups, normalized to Yelp. reservation services for restaurants. Similar to Yelp, the company generates revenue by deploying a dedicated sales team to local restaurants to encourage enrollment. Before Priceline acquired OpenTable, senior management at OpenTable discussed how economies of scale would lead to target margins above 25 percent.

Businesses desire a partner that generates the most traffic, and consumers desire a website with the most reviews. This business is similar to other software businesses, such as Microsoft’s Windows operating system and IBM’s MVS mainframe software, both of which still retain more than 80 percent of their respective markets. 5 One piece of data pointing to the potential of a 65 percent share is the restaurant reservation company OpenTable. Before being acquired by Priceline in 2013, OpenTable reported that it had exceeded a 60 percent share in San Francisco. A VALUATION PROCESS FOR HIGH-GROWTH COMPANIES 737 EXHIBIT 32.5 Yelp: Cohort Revenue Model Historical1 Cohort 1: San Francisco Addressable businesses, thousand × Percent claimed = Claimed locations, thousand × Percent converted = Active accounts, thousand × Revenues per account, $ thousand = Cohort revenue, $ million Forecast 2011 2012 2013 2014 2015 2016 2017 2018 375.8 37.0 139.0 381.0 45.0 171.4 386.1 52.0 200.8 391.4 58.0 227.0 396.8 62.0 246.0 402.2 65.0 261.4 407.7 65.0 265.0 413.3 65.0 268.7 4.3 6.0 4.4 7.5 4.6 9.2 4.7 10.7 4.8 11.8 4.9 12.8 5.0 13.3 5.1 13.7 2.7 16.0 3.0 22.9 3.3 30.8 3.7 39.2 4.0 47.7 4.4 56.9 4.9 64.7 5.4 73.6 Cohort 2: Boston, Chicago, Los Angeles, New York City, Seattle Addressable businesses × Percent claimed = Claimed locations, thousand 1,372.2 24.0 329.3 1,383.5 37.0 511.9 1,394.2 45.0 627.4 1,405.6 52.0 730.9 1,417.1 58.0 821.9 1,428.8 62.0 885.9 1,440.6 65.0 936.4 1,452.5 65.0 944.1 × Percent converted = Active accounts, thousand 4.1 13.5 4.3 22.0 4.4 27.6 4.6 33.6 4.7 38.6 4.8 42.5 4.9 45.9 5.0 47.2 × Revenues per account, $ thousand = Cohort revenue, $ million 2.4 31.8 2.7 59.1 3.0 83.7 3.3 112.2 3.7 141.8 4.0 171.7 4.4 203.8 4.9 230.6 1 Yelp does not disclose historical data by cohort; we have estimated it here using publicly available data.

Exhibit 32.8 EXHIBIT 32.8 Yelp: Current and Forecast Margins % 1031 100 23 6 100 14 100 100 21 26 Operating margin 17 General and administrative 11 Product development 38 Sales and marketing Cost of revenues 21 20 16 18 15 13 12 57 51 46 41 7 7 7 7 7 2013 2014E 2015E 2016E 2023E 1 Because Yelp operated at a loss in 2013, operating costs sum to greater than 100 percent. 740 VALUING HIGH-GROWTH COMPANIES EXHIBIT 32.9 Business-to-Business Internet Companies: Key Value Drivers, 2013 Revenues, $ million Google LinkedIn 59,825 25.5 1,529 Monster Worldwide 808 Yelp 233 Capital/revenues,1 % EBITA T margin, % 27.2 4.2 10.3 14.6 (3.5) 2 (6.9) 15.2 1 Capital turnover excludes goodwill and acquired intangibles. 2 Monster Worldwide EBITA margin includes only North America. presents the margin transition for Yelp, from –3 percent in 2013 to an estimated 26 percent in 2023. Combined with our revenue forecast, our margin projections translate to a growth in operating profit from a loss of $8.1 million in 2013 to a profit of $619 million in 2023. If Yelp follows OpenTable’s pattern, margins could be above 25 percent. But are these forecasts realistic? To address this question, examine other software companies that provide a similar conduit between consumers and businesses, funded by businesses. Exhibit 32.9 presents the key value drivers for Yelp and three other companies: Google, LinkedIn, and Monster Worldwide. Although none of these companies provides a perfect comparison, each offers some insight into what is possible.

pages: 339 words: 88,732

The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies by Erik Brynjolfsson, Andrew McAfee


2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, access to a mobile phone, additive manufacturing, Airbnb, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, American Society of Civil Engineers: Report Card, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, barriers to entry, basic income, Baxter: Rethink Robotics, British Empire, business intelligence, business process, call centre, Chuck Templeton: OpenTable, clean water, combinatorial explosion, computer age, computer vision, congestion charging, corporate governance, creative destruction, crowdsourcing, David Ricardo: comparative advantage, digital map, employer provided health coverage,, Erik Brynjolfsson, factory automation, falling living standards, Filter Bubble, first square of the chessboard / second half of the chessboard, Frank Levy and Richard Murnane: The New Division of Labor, Freestyle chess, full employment, game design, global village, happiness index / gross national happiness, illegal immigration, immigration reform, income inequality, income per capita, indoor plumbing, industrial robot, informal economy, intangible asset, inventory management, James Watt: steam engine, Jeff Bezos, jimmy wales, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kevin Kelly, Khan Academy, knowledge worker, Kodak vs Instagram, law of one price, low skilled workers, Lyft, Mahatma Gandhi, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Mars Rover, mass immigration, means of production, Narrative Science, Nate Silver, natural language processing, Network effects, new economy, New Urbanism, Nicholas Carr, Occupy movement, oil shale / tar sands, oil shock, pattern recognition, Paul Samuelson, payday loans, price stability, Productivity paradox, profit maximization, Ralph Nader, Ray Kurzweil, recommendation engine, Report Card for America’s Infrastructure, Robert Gordon, Rodney Brooks, Ronald Reagan, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Simon Kuznets, six sigma, Skype, software patent, sovereign wealth fund, speech recognition, statistical model, Steve Jobs, Steven Pinker, Stuxnet, supply-chain management, TaskRabbit, technological singularity, telepresence, The Bell Curve by Richard Herrnstein and Charles Murray, The Signal and the Noise by Nate Silver, The Wealth of Nations by Adam Smith, total factor productivity, transaction costs, Tyler Cowen: Great Stagnation, Vernor Vinge, Watson beat the top human players on Jeopardy!, winner-take-all economy, Y2K

The software underlying Siri, which originated at the California research institute SRI International and was purchased by Apple in 2010, listened to what iPhone users were saying to it, tried to identify what they wanted, then took action and reported back to them in a synthetic voice. After Siri had been out for about eight months, Kyle Wagner of technology blog Gizmodo listed some of its most useful capabilities: “You can ask about the scores of live games—‘What’s the score of the Giants game?’—or about individual player stats. You can also make OpenTable reservations, get Yelp scores, ask about what movies are playing at a local theater and then see a trailer. If you’re busy and can’t take a call, you can ask Siri to remind you to call the person back later. This is the kind of everyday task for which voice commands can actually be incredibly useful.”7 The Gizmodo post ended with caution: “That actually sounds pretty cool. Just with the obvious Siri criterion: If it actually works.”8 Upon its release, a lot of people found that Apple’s intelligent personal assistant didn’t work well.

Reputations and Recommendations Digitization also brings a related but subtler benefit to the vast array of goods and services that already exist in the economy. Lower search and transaction costs mean faster and easier access and increased efficiency and convenience. For example, the rating site Yelp collects millions of customer reviews to help diners find nearby restaurants in the quality and price ranges they seek, even when they are visiting new cities. The reservation service OpenTable then lets them book a table with just a few mouse clicks. In aggregate, digital tools like these make a large difference. In the past, ignorance protected inefficient or lower-quality sellers from being unmasked by unsuspecting consumers, while geography limited competition from other sellers. With the introduction of structured comparison sites like and Kayak, airline travel, banking, insurance, car sales, motion pictures, and many other industries are being transformed by consumers’ ability to search for and compare competing sellers.

., robot use by Minsky, Marvin MIT, Computer Science and Artificial Intelligence Lab at Mitchell, Tom Mitra, Sugata MITx Montessori, Maria Monthly Labor Review Moore, Gordon Moore’s Law in business in computing persistence of spread of Moravec, Hans Moravec’s paradox Morris, Ian mortgages Mullis, Kary multidimensional poverty index Munster, Gene Murnane, Richard Murray, Charles music, digitization of Nader, Ralph Narrative Science NASA National Academy of Sciences National Association of Realtors National Bureau of Economic Research National Review Nature of Technology, The (Arthur) Neiman, Brent New Digital Age, The (Schmidt and Cohen) New Division of Labor, The (Levy and Murnane) Newell, Al new growth theory New York Times Next Convergence, The (Spence) Nike Nixon, Richard Nordhaus, William numbers: development of large Occupy movement oDesk Oh, Joo Hee Olshansky, S. Jay OpenTable OrCam O’Reilly, Tim Organization for Economic Co-operation and Development (OECD) Orteig Prize Orwell, George Oswald, Andrew Page, Larry Paine, Thomas Pandora Partnership for a New American Economy Pascarella, Ernest pattern recognition Pauling, Linus peer economy Perrow, Charles Perry, Mark philosophy, transformative phones, mobile: in developing world see also smartphones photography photo sharing Picasso, Pablo Pigou, Arthur Pigovian taxes Pink, Daniel Pinker, Steven Pinterest Pivot Power Plutarch Polanyi, Michael pollution polymerase chain reaction (PCR) Popular Science Porter, Michael Powerbook G4 Power Law distributions Principles of Economics (Mankiw) printing, 3D privacy, in digital vs. analog world productivity: decoupling of employment from decoupling of wages from effect of spread on in electricity era growth of innovation linked to intangible goods’ effect on mid-1990s U.S. increase in new paths to post-1970 U.S. decline in post-2000 U.S. growth in see also economic growth; gross domestic product (GDP); labor productivity, capital productivity, multifactor productivity, total factor publishing, digitization and Putnam, Robert Quirky R Race Against the Machine (Brynjolfsson and McAfee) Rajan, Raghuram Rampell, Catherine Raymond, Eric reading AI capabilities in Reagan, Ronald regulation: of business of peer economy religion rents, economic resource curse Rethink Robotics retinal implants Rhapsody Ricardo, David Rigobon, Roberto Robinson, James Robotics, Three Laws of robots: business use of; see also automation rapid progress in sensory equipment for skills acquisition by; see also Moravec’s paradox towel-folding see also artificial intelligence (AI) Rockoff, Jonah Roksa, Josipa Romer, Paul Roomba Roosevelt, Franklin D.

pages: 385 words: 101,761

Creative Intelligence: Harnessing the Power to Create, Connect, and Inspire by Bruce Nussbaum


3D printing, Airbnb, Albert Einstein, Berlin Wall, Black Swan, Chuck Templeton: OpenTable, clean water, collapse of Lehman Brothers, creative destruction, Credit Default Swap, crony capitalism, crowdsourcing, Danny Hillis, declining real wages, demographic dividend, Elon Musk,, Eugene Fama: efficient market hypothesis, Fall of the Berlin Wall, follow your passion, game design, housing crisis, Hyman Minsky, industrial robot, invisible hand, James Dyson, Jane Jacobs, Jeff Bezos, jimmy wales, John Gruber, John Markoff, Joseph Schumpeter, Kickstarter, lone genius, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Martin Wolf, new economy, Paul Graham, Peter Thiel, QR code, race to the bottom, reshoring, Richard Florida, Ronald Reagan, shareholder value, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, six sigma, Skype, Steve Ballmer, Steve Jobs, Steve Wozniak, supply-chain management, Tesla Model S, The Chicago School, The Design of Experiments, the High Line, The Myth of the Rational Market, thinkpad, Tim Cook: Apple, too big to fail, tulip mania, We are the 99%, Y Combinator, young professional, Zipcar

When the book came out, I got one, becoming a traditional consumer. In this one “transaction” with Kickstarter, I had the opportunity to engage in half a dozen different ways. The ability to rethink engagements is a hugely powerful technique for creating new ideas. Take restaurant reservations. Before OpenTable and other apps like it, we had to call each restaurant sequentially, wait for an answer, deal with often snooty gatekeepers, and negotiate a specific time to dine. It was a time-consuming and sometimes anxiety-inducing experience. By taking the process online, Open Table allows patrons to check out many restaurants faster, see what time slots are available, and book one without having to beg. Wherever there is a point of interaction, there is potential for innovation. But the “right” engagement will vary from group to group, industry to industry.

See Financial capitalism New School, Parsons, 240 New Tech City study, 181 New York, 73, 181–82, 238 Ng, Andrew, 198 Nike, 134–35, 145 Noma restaurant, 159 Novogratz, Jacqueline, 70 NY Creative Interns, 181, 204 Occupy Wall Street movement, 90, 151 Odyssey of the Mind game, 258–60 Office of Strategic Services (OSS), 18–20, 27 Oldham, Andrew Loog, 8 Omidyar, Pam and Pierre, 138 Online e-commerce companies, 152, 162–66, 174, 204 Open-source philosophy, 36 OpenTable app, 98–99 Organic food, 154 Organizational creativity, 21–22, 28–33 Organizational knowledge mining, 78–83 Osher, John, 61 OSS. See Office of Strategic Services (OSS) Outdoor grill designs, 178–79 Outside-in thinking, 108–9 Outsourcing in decline of Hewlett-Packard, 225–26 financial capitalism and, 151, 153 loss of innovation by, 144 pivoting and, 179 reversing of, for manufacturing, 160–62 (see also Reshoring) risks of, 174–75 Packaging, Apple iMac, 188 Packard, David, 191 Page, Larry, 121, 207, 212–13 Parker, Sean, 214 Parsons The New School for Design, 16, 240 Participation Indie Capitalism and, 248 maker movement and, 153–56 Passion, pivoting and, 216–17 Past, mining of, 63–66 PayPal, 148, 163, 166, 206, 207, 235 PCs.

pages: 282 words: 80,907

Who Gets What — and Why: The New Economics of Matchmaking and Market Design by Alvin E. Roth


Affordable Care Act / Obamacare, Airbnb, algorithmic trading, barriers to entry, Berlin Wall, bitcoin, Build a better mousetrap, centralized clearinghouse, Chuck Templeton: OpenTable, commoditize, computer age, computerized markets, crowdsourcing, deferred acceptance, desegregation, experimental economics, first-price auction, Flash crash, High speed trading, income inequality, Internet of things, invention of agriculture, invisible hand, Jean Tirole, law of one price, Lyft, market clearing, market design, medical residency, obamacare, proxy bid, road to serfdom, school choice, sealed-bid auction, second-price auction, second-price sealed-bid, Silicon Valley, spectrum auction, Spread Networks laid a new fibre optics cable between New York and Chicago, Steve Jobs, The Wealth of Nations by Adam Smith, two-sided market

And when I tell you how each restaurant deals with congestion—where and when we’ll wait—you may be surprised at how many other things that detail will tell you about the restaurant. Let’s conduct a blind test: I’ll tell you how three restaurants, call them A, B, and C, handle congestion on a busy night, and I’ll bet you’ll be able to figure out the color of their tablecloths. If we want to eat in restaurant A, we call ahead for a reservation and then chat in my office until the time we are expected. (Or we can search the online marketplace OpenTable, which offers reservations to many restaurants, to compare the availability times of restaurant A and other, similar restaurants.) When we arrive, we’re seated quickly and given a menu. A server soon comes to ask if we’d like something to drink. When the drinks come, the server is ready to take our order, and we chat while the food is prepared. At the end of the meal, the bill is brought to our table, and after we’ve looked it over, we put down a credit card, which the server returns to take.

See also repugnant markets NEPKE, 8, 37, 38, 42, 44, 49, 50 New England Journal of Medicine, 45 New England Organ Bank, 36 New England Program for Kidney Exchange (NEPKE), 8, 37, 38, 42, 44, 49, 50 New York City school system, 8, 106–10, 112, 122, 153–61 benefits of revised, 160–61 old compared with new, 155–58 preferences in, 153–54, 156–60 New York State attorney general, 86, 88 New York Stock Exchange, 82–83 New York Times, 110 Nguyen, Hai, 38–39 Niederle, Muriel, 75–76, 176–77 Nixon, Richard, 224 nonsimultaneous chains in kidney exchange, 43–46, 49, 51–52, 235 NRMP, 7–8, 146 Obamacare, 224 objectification, 203 Ockenfels, Axel, 118, 120–21 Oklahoma Land Rush, 57–59, 80, 113–14 once-per-second market, 86, 88 OpenTable, 218 operating systems, 21–22 Orange Bowl, 61–62, 66 orthopedic surgeons, 78–80 Ostrovsky, Mike, 86–87 package bidding, 188–89, 225–26 parking decisions, 72–73, 125–26 Pathak, Parag, 107, 126, 149, 153, 165 payment systems credit cards, 23–26 in Internet marketplaces, 24, 104, 117 mobile, 26–27 privacy in, 119 PayPal, 24, 117, 119 Payzant, Tom, 126, 129 peacocks, 177–78 penicillin, 133–34 Peranson, Elliott, 147–48, 157 performance evaluation, 64 political campaign contributions, 203 politics free markets and, 226–28 in kidney exchanges, 49–51 polycystic kidney disease, 38–39 polygamy, 199 Posner, Richard, 91 price and pricing, 9.

pages: 996 words: 180,520

Nagios: System and Network Monitoring, 2nd Edition by Wolfgang Barth


business process, Chuck Templeton: OpenTable, Debian,, Firefox, RFC: Request For Comment, web application

To set up a connection to the database nagdb as the user nagios, both parameters are passed on to the plugin: nagios@linux:nagios/libexec$ ./check_mysql -H dbhost -u nagios -d nagdb Uptime: 19031 Threads: 2 Questions: 80 Slow queries: 0 Opens: 12 Flush tables: 1 Open tables: 6 Queries per second avg: 0.004 In contrast to PostgreSQL, with MySQL you can also make contact without establishing a connection to a specific database: nagios@linux:nagios/libexec$ ./check_mysql -H dbhost Uptime: 19271 Threads: 1 Questions: 84 Slow queries: 0 Opens: 12 Flush tables: 1 Open tables: 6 Queries per second avg: 0.004 With a manual connection to the database, with mysql, you can then subsequently change to the desired database, using the MySQL command use: user@linux:~$ mysql -u nagios mysql> use nagdb; Database changed mysql> With this plugin, a subsequent database change is not possible.

/check_multi -f contrib/check_multi.cmd MULTI CRITICAL - 35 plugins checked, 7 critical (network_rsync, proc_acp id, proc_httpd, system_syslog, system_users, nagios_system, dummy_critical), 2 warning (nagios_tac, dummy_warning), 2 unknown (network_if_ethl, dummy_unknown), 24 ok [1] network_ping PING OK - Packet loss = 0%, RTA = 0.06 ms [2] network_interfaces OK: host 'localhost', interfaces up: 6, down: 0, dormant: 0, excluded: 0, unused: 0 [3] network_if_eth1 Either a valid snmpkey key (-k) or a ifDescr (-d) must be provided) ... [16] system_load OK - load average: 0.89, 0.71, 0.71 [17] system_mail TCP OK - 0.000 second response time on port 25 [18] system_mailqueue OK: mailq is empty [19] system_mysql Uptime: 5573 Threads: 1 Questions: 140 Slow queries : 0 Opens: 137 Flush tables: 1 Open tables: 19 Queries per second avg : 0.025 [20] system_ntp NTP OK: Offset −0.07118669868 secs [21] system_portmapper OK: RPC program portmapper version 2 udp running [22] system_rootdisk DISK OK - free space: / 287 MB (31% inode=81%); [23] system_ssh SSH OK - OpenSSH_4.3p2 Debian-9 (protocol 2.0) ... |MULTI::check_multi::plugins=35 time=10.92 network_interfaces::check_ifs tatus:: up=6,down=0,dormant=0,excluded=0,unused=0 system_load::check_load :: load1=0.890;5.000;10.000;0; load5=0.710;4.000;8.000;0; load15=0.710;3. 000;6.000;0; system_mail:: check_tcp::time=0.000225s;;;0.000000;10.000000 system_mailqueue::check_mailq:: unsent=0;2;4;0 system_ntp::check_ntp::off set=−0.071187s;60.000000;120.000000; system_rootdisk:: check_disk:: /=620M B;909;937;0;957 system_swap::check_swap::swap=3906MB;0;0;0;3906 system_u sers:: check_users::users=25;5;10;0 nagios.org_dns::check_dns::time=0.039 187s;;; 0.000000 nagios.org_http::check_http::time=0.674044s;;;0.000000 s ize=21530B;;;0 The first line of the output—starting with MULTI CRITICAL—summarizes all the executed checks.

pages: 373 words: 112,822

The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley Are Changing the World by Brad Stone

Affordable Care Act / Obamacare, Airbnb, AltaVista, Amazon Web Services, Andy Kessler, autonomous vehicles, Burning Man, call centre, Chuck Templeton: OpenTable, collaborative consumption, East Village, fixed income, Google X / Alphabet X, housing crisis, inflight wifi, Jeff Bezos,, Kickstarter, Lyft, Marc Andreessen, Mark Zuckerberg, Menlo Park, Necker cube, obamacare, Paul Graham, peer-to-peer, Peter Thiel, race to the bottom, rent control, ride hailing / ride sharing, Ruby on Rails, Sand Hill Road, self-driving car, semantic web, sharing economy, side project, Silicon Valley, Silicon Valley startup, Skype, South of Market, San Francisco, Startup school, Steve Jobs, TaskRabbit, Tony Hsieh, transportation-network company, Uber and Lyft, Uber for X, Y Combinator, Y2K, Zipcar

“No technology could solve for the fact that there was resistance among taxi companies and drivers for this very basic change to the way they ran their business,” Tom DePasquale says. He is not particularly proud of what happened next. In the summer of 2009, Taxi Magic was the object of a prolonged courtship by the Silicon Valley investor Bill Gurley, a partner at the premier venture capital firm Benchmark Capital. An original backer of the online reservation company OpenTable, Gurley, who stands six feet nine inches tall, had been looking for a similar car service that could impose simplicity and efficiency on the archaic world of ground transportation. George Arison recalls Gurley sitting in their Virginia office many times over the course of several weeks, poring over spreadsheets, talking to Partee about the taxi industry, and negotiating with DePasquale about investment terms.

It was time for Uber to raise its first significant round of funding, the Series A. He wanted to work with one investor in particular: Benchmark’s Bill Gurley, who had previously expressed interest in the seed round. Gurley had tracked Uber’s progress closely over the nine months since then, what the former Florida Gators basketball player calls “hanging around the rim.” Sensing the opportunity to bring transportation online in the same way OpenTable had consolidated restaurants and Zillow had aggregated real estate listings, Gurley was aggressive. He went on a bike ride with Chris Sacca in Truckee to talk about the company and drove up to San Francisco late one night to spend two hours with Kalanick at the W Hotel bar, hammering out prospective deal terms. Gurley had identified a big opportunity but he was also fortunate. He had tried and failed with Taxi Magic and Cabulous, two investments in rival companies that would have precluded his backing Uber.

pages: 197 words: 59,946

The Thank You Economy by Gary Vaynerchuk


Apple's 1984 Super Bowl advert, augmented reality, business process, call centre, Chuck Templeton: OpenTable, crowdsourcing,, hiring and firing, intangible asset, Jeff Bezos, new economy, pre–internet, Skype, social software, Tony Hsieh

You have to put a cap on that, of course. It can be hard to figure out a complaining person’s intent—are the complaints legitimate, or is the complainer playing games? What you can do, however, is keep good metrics on the client who says something negative about you. If a customer posts on Yelp that he had a terrible experience at a restaurant, the restaurant manager can respond appropriately, tag him with a system like Open Table, which tracks online reservations, and run a report six months later to see whether that customer has returned and how much money he has spent. Scaling One-to-One AJ Bombers is a one-store location, but this kind of customer reward strategy is not limited to small, local businesses. Starbucks has scaled this kind of consumer reward to a national level, and McDonald’s, Einstein Bagels, and KFC have all gotten into it.

pages: 193 words: 47,808

The Flat White Economy by Douglas McWilliams


access to a mobile phone, banking crisis, Big bang: deregulation of the City of London, bonus culture, Chuck Templeton: OpenTable, cleantech, cloud computing, computer age, correlation coefficient, Edward Glaeser,, Erik Brynjolfsson, eurozone crisis, George Gilder, hiring and firing, income inequality, informal economy, knowledge economy, loadsamoney, low skilled workers, mass immigration, Metcalfe’s law, Network effects, new economy, offshore financial centre, Pareto efficiency, Peter Thiel, Productivity paradox, Robert Metcalfe, Silicon Valley, smart cities, special economic zone, Steve Jobs, working-age population, zero-sum game

They predict that the total UK coffee shop market will exceed 20,000 outlets and £8 billion turnover by 2017, driven by branded coffee chain expansion and non-specialist operator growth.4 The biggest chain, Costa Coffee now owned by Whitbread, has 1,831 branches5 with nearly 80 new openings in the first half of 2014. It expects to have 2,200 branches in 2018. Figure 4.1: Total number of UK coffee shops by outlet and by type with forecasts6 (Source: Allegra Strategies Ltd) Coffee shops represent both a statement of lifestyle for the Flat Whiters and a focal point for creativity. Trendies pride themselves on being coffee connoisseurs, while the coffee shops with their free Wi-Fi and open table arrangements act as ideal meeting places for the creative processes required by Flat White industries. Throughout the day and much of the night, the sight of young people absorbed in silver MacBook screens besides a paper cup is common throughout the East End. Flat Whiters often have fairly cramped accommodation. So the coffee shop is their study, their drawing room, and their dining room. It can even be their bike repair shop – cycle cafes such as ‘Look Mum No Hands!’

pages: 280 words: 40,881

JQuery UI by Eric Sarrion


Chuck Templeton: OpenTable, Firefox, Ruby on Rails, web application

These methods receive the event parameter corresponding to the event, followed by the menus object, which describes the menus associated with the event (the one that opens and the one that closes). This menus object (described below) consists of the following properties: oldHeader jQuery class object corresponding to the menu that is closing. oldContent jQuery class object corresponding to the content menu that is closing. newHeader jQuery class object corresponding to the menu that is opening. newContent jQuery class object corresponding to the content menu that is opening. Table 3-3 describes the options for managing menu events. Table 3-3. Options for managing menu events Option Function options.change The change (event, menus) method is called when selecting a menu (either manually or by the accordion ("activate") method), after the animation has taken place (the selected menu was opened and the previously open menu was closed). options.changestart The changestart (event, menus) method is called when selecting a menu (either manually or by the accordion ("activate") method), before the animation has taken place (the menu that is due to open has not yet opened and the menu that should close has not yet closed).

Girl Walks Into a Bar . . .: Comedy Calamities, Dating Disasters, and a Midlife Miracle by Rachel Dratch


Burning Man, Chuck Templeton: OpenTable, East Village, Haight Ashbury, rolodex, Saturday Night Live, the High Line

Besides the fact that Doug became a verb, I’m including his letter because, though this is my story, I’m telling John’s story as well, and I thought you should know that beneath all of my quips or observations, some of which John may feel more comfortable keeping private, and whether or not we are together as a couple or as co-parents, the fact is, this guy did uproot his life from a quiet hamlet across the whole country to a busy loud avenue in New York City so that he could be a daily part of his son’s life. I thought he deserved some credit for that. Not everyone would do that. And I thought Prophet Doug said it better than I ever could. With All Due Respect to Edgar Allan Poe In spite of the fact that I’m not a megastar, occasional perks come along for me because I was at one time on Saturday Night Live. Nothing major. Stuff like an open table at a busy restaurant. I lucked out big-time, though, when I was five months pregnant. I was walking down the street and a guy said, “Hi! I produced your segment on Tony Danza’s show a few years ago.” Not to say I may have blocked out my guest stint on the esteemed yet short-lived Tony Danza talk show, but I didn’t remember this guy. To be friendly, however, I talked to him for a bit and asked what he was doing now, to which he responded that he was working for the Nate Berkus show.

pages: 257 words: 64,973

Intrusion Detection With Snort, Apache, Mysql, Php, and Acid by Rafeeq Ur Rehman


Chuck Templeton: OpenTable, database schema, stealth mode startup, web application, x509 certificate

Type '\c' to clear the buffer mysql> create database snort; Query OK, 1 row affected (0.00 sec) mysql> use snort Database changed mysql> status -------------- mysql Ver 11.13 Distrib 3.23.36, for redhat-linux-gnu (i386) Connection id: 41 Current database: snort Current user: root@localhost Current pager: stdout Using outfile: '' Server version: 3.23.36 Protocol version: 10 Connection: Localhost via UNIX socket Client characterset: latin1 Server characterset: latin1 UNIX socket: /var/lib/mysql/mysql.sock Uptime: 1 hour 56 min 29 sec Threads: 1 Questions: 107 Slow queries: 0 Opens: 14 Flush tables: 1 Open tables: 7 Queries per second avg: 0.015 -------------- mysql> The following commands are used in this session: The command "mysql -h localhost -u root –p" is used to connect mysql client to a database server running on localhost. The "-u root" part shows the database user name used to connect to the database. The "-p" part is used to enter user password on the next line. A welcome message is displayed after login and you get the "mysql>" prompt where you can issue other commands.

pages: 252 words: 73,131

The Inner Lives of Markets: How People Shape Them—And They Shape Us by Tim Sullivan


Airbnb, airport security, Al Roth, Alvin Roth, Andrei Shleifer, attribution theory, autonomous vehicles, barriers to entry, Brownian motion, centralized clearinghouse, Chuck Templeton: OpenTable, clean water, conceptual framework, constrained optimization, continuous double auction, creative destruction, deferred acceptance, Donald Trump, Edward Glaeser, experimental subject, first-price auction, framing effect, frictionless, fundamental attribution error, George Akerlof, Goldman Sachs: Vampire Squid, Gunnar Myrdal, helicopter parent, information asymmetry, Internet of things, invisible hand, Isaac Newton, iterative process, Jean Tirole, Jeff Bezos, Johann Wolfgang von Goethe, John Nash: game theory, John von Neumann, Joseph Schumpeter, Kenneth Arrow, late fees, linear programming, Lyft, market clearing, market design, market friction, medical residency, multi-sided market, mutually assured destruction, Nash equilibrium, Occupy movement, Pareto efficiency, Paul Samuelson, Peter Thiel,, pez dispenser, pre–internet, price mechanism, price stability, prisoner's dilemma, profit motive, proxy bid, RAND corporation, ride hailing / ride sharing, Robert Shiller, Robert Shiller, Ronald Coase, school choice, school vouchers, sealed-bid auction, second-price auction, second-price sealed-bid, sharing economy, Silicon Valley, spectrum auction, Steve Jobs, Tacoma Narrows Bridge, technoutopianism, telemarketer, The Market for Lemons, The Wisdom of Crowds, Thomas Malthus, Thorstein Veblen, trade route, transaction costs, two-sided market, uranium enrichment, Vickrey auction, Vilfredo Pareto, winner-take-all economy

This is because most retailers charge the same price for all transactions, regardless of whether they involve credit, debit, or cash, or whether the charge goes to a high-fee card like Amex or a lower-fee Visa, MasterCard, or Discover. The retailer might like to charge 3 percent more for high-commission card sales, but they don’t; instead, they charge a “blended” price to all customers.16 Think credit card companies are the only ones? Think again. The internet has empowered dozens of intermediaries to pull the same stunt: OpenTable, the online reservation platform, gives cash rewards to diners, but they don’t see an extra charge from restaurants. Expedia, the online travel booking platform, hands out reward points, but your flight costs the same whether you book through them or directly on an airline’s website—the list goes on and on. This might sound like a fantastic deal for you, the consumer—after all, airlines, restaurants, and stores are footing the bill, and you’re reaping the benefits—until you stop to consider the fact that you might be happier carrying around a bit more cash and getting a 3 percent discount when you use it, rather than a 1 percent cash rebate from Visa.

pages: 255 words: 90,456

Frommer's Irreverent Guide to San Francisco by Matthew Richard Poole


Bay Area Rapid Transit, Chuck Templeton: OpenTable, game design, glass ceiling, Golden Gate Park, Haight Ashbury, haute cuisine, Loma Prieta earthquake, Maui Hawaii, old-boy network, pez dispenser, sensible shoes, Silicon Valley, South of Market, San Francisco, Torches of Freedom, upwardly mobile

Then there’s the elevated wooden deck outside the gay hangout Cafe Flore in the Castro. On a foggy day, it’s like being in one of those pensive French movies. On a sunny day, it’s like being on the French Riviera. But no matter what the weather, it’s almost impossible to get a deck seat unless you’re there at opening time (7am) or have the patience to wait for someone to leave—and can sprint to the open table faster than anyone else. DINING How about a little fresh air?... San Francisco’s Bayside Basking If you’re lucky enough to be in San Francisco on one of those rare hot days, then don’t waste those fleeting sunny moments lunching inside. Call for directions and head to The Ramp, a favorite bayside hangout among inthe-know locals. The fare is of the basic pub grub variety— burgers, sandwiches, salads, and soups from $8 to $13— but the rustic boatyard environment and patio seating make this a relaxing place to dine in the sun.

pages: 344 words: 103,532

The Big U by Neal Stephenson


anti-communist, Chuck Templeton: OpenTable, invisible hand, Ronald Reagan, Socratic dialogue

At times she thought that they were planting spies in her path to take down statistics on how many behavioral standards she broke, or to drive her crazy by asking why she had really resigned the Presidency. She was annoyed but not surprised to find herself eating dinner with Mari Meegan, Mari’s second cousin and Toni one night. Relaxed from a racquetball game, she made no effort to scan her route through the Caf for telltale ski masks. So as she danced and sideslipped her way toward what looked like an open table, she was blindsided by a charming squeal from right next to her. “Sarah!” Too slow even to think of pretending not to hear, she looked down to see the three color-coordinated ski masks looking back at her expectantly. She despised them and never wanted to see them again, ever, but she also knew there was value in following social norms, once in a while, to forestall hatred and God knows what kinds of retribution.

pages: 302 words: 91,517

Baghdad Without a Map and Other Misadventures in Arabia by Tony Horwitz


Ayatollah Khomeini, Chuck Templeton: OpenTable, Donald Trump, Farzad Bazoft, Khartoum Gordon, Mercator projection, trade route

, they're already off, leaving you at the wrong gate beside a blind old man and a veiled woman trying to change her baby's diaper. In flight, the mayhem resumes. Most Middle East stewardesses make quick work of the safety demonstration, or dispense with it altogether. Given the condition of the “safety features,” this is understandable. As the plane rattles down the runway, luggage compartments fly open, tables pop out and stuffed toy camels bounce down the aisle. The only thing that never jars loose is the oxygen mask, ripped out years ago for emergency use as a diaper or ripped out years ago when the cabin last depressurized somewhere over the desert. Just before takeoff, the NO SMOKING sign flicks on, which is the signal for passengers on both sides of you to instantly light up. Ninety percent of Arab males smoke, always on airplanes and particularly during takeoff.

pages: 294 words: 81,292

Our Final Invention: Artificial Intelligence and the End of the Human Era by James Barrat


3D printing, AI winter, Amazon Web Services, artificial general intelligence, Asilomar, Automated Insights, Bayesian statistics, Bernie Madoff, Bill Joy: nanobots, brain emulation, cellular automata, Chuck Templeton: OpenTable, cloud computing, cognitive bias, commoditize, computer vision, cuban missile crisis, Daniel Kahneman / Amos Tversky, Danny Hillis, data acquisition, don't be evil, drone strike, Extropian, finite state, Flash crash, friendly AI, friendly fire, Google Glasses, Google X / Alphabet X, Isaac Newton, Jaron Lanier, John Markoff, John von Neumann, Kevin Kelly, Law of Accelerating Returns, life extension, Loebner Prize, lone genius, mutually assured destruction, natural language processing, Nicholas Carr, optical character recognition, PageRank, pattern recognition, Peter Thiel, prisoner's dilemma, Ray Kurzweil, Rodney Brooks, Search for Extraterrestrial Intelligence, self-driving car, semantic web, Silicon Valley, Singularitarianism, Skype, smart grid, speech recognition, statistical model, stealth mode startup, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, Stuxnet, superintelligent machines, technological singularity, The Coming Technological Singularity, Thomas Bayes, traveling salesman, Turing machine, Turing test, Vernor Vinge, Watson beat the top human players on Jeopardy!, zero day

Whenever you use Siri it is Nuance’s algorithms that perform the speech recognition part of its magic. Speech recognition is the art of translating the spoken word to text (not to be confused with NLP, extracting meaning from written words). After Siri translates your query into text, its three other main talents come into play: its NLP facility, searching a vast knowledge database, and interacting with Internet search providers, such as OpenTable, Movietickets, and Wolfram|Alpha. IBM's Watson is kind of a Siri on steroids, and a champion at NLP. In February 2011, it employed both brain-derived and brain-inspired systems to achieve an impressive victory against human contestants on Jeopardy! Like chess champion computer Deep Blue, Watson is IBM’s way of showing off its computing know-how while moving the ball down the field for AI. The long-running game show promised a formidable challenge because of its open domain of clues and its wordplay.

pages: 363 words: 94,139

Jony Ive: The Genius Behind Apple's Greatest Products by Leander Kahney


Apple II, banking crisis, British Empire, Chuck Templeton: OpenTable, Computer Numeric Control, Dynabook, global supply chain, interchangeable parts, John Markoff, Jony Ive, race to the bottom, RFID, side project, Silicon Valley, Steve Ballmer, Steve Jobs, Steve Wozniak, Steven Levy, the built environment, thinkpad, Tim Cook: Apple

The desk is usually bare except for his seventeen-inch MacBook and several colored pencils used for drawing, which are typically arranged neatly on his desk. He doesn’t use an external monitor or other peripheral equipment. Directly outside Jony’s office are four large wooden project tables that are used to present prototype products to executives. This was where Steve Jobs gravitated when he visited the studio. In fact, the studio setup gave Jobs the idea for the big open tables in the Apple stores. Each table is dedicated to a different project—one for MacBooks, another for the iPad, the iPhone and so on. They are used to display models and prototypes of whatever Jony has to show Jobs and other executives. The models are covered at all times with black cloth. Next to Jony’s office and the presentation tables is a large CAD room, also fronted by a glass wall. The CAD room is home to about fifteen CAD operators (“surface guys”).

pages: 356 words: 105,533

Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market by Scott Patterson


algorithmic trading, automated trading system, banking crisis, bash_history, Bernie Madoff, butterfly effect, buttonwood tree, Chuck Templeton: OpenTable, cloud computing, collapse of Lehman Brothers, computerized trading, creative destruction, Donald Trump, fixed income, Flash crash, Francisco Pizarro, Gordon Gekko, Hibernia Atlantic: Project Express, High speed trading, Joseph Schumpeter, latency arbitrage, Long Term Capital Management, Mark Zuckerberg, market design, market microstructure, pattern recognition,, Ponzi scheme, popular electronics, prediction markets, quantitative hedge fund, Ray Kurzweil, Renaissance Technologies, Sergey Aleynikov, Small Order Execution System, South China Sea, Spread Networks laid a new fibre optics cable between New York and Chicago, stealth mode startup, stochastic process, transaction costs, Watson beat the top human players on Jeopardy!, zero-sum game

Generation after generation of computerized mini-BOT traders dying and breeding and mutating would lead, eventually, to profitable strategies. Or so they hoped. Andre and Teller spent a great deal of time hunting for unique ways to grab information from the Internet. For instance, one way to gauge the bullishness of traders in a way that’s not currently measured might be to ping the online restaurant reservation site Open Table, looking specifically at expensive haunts around Wall Street. Heavy bookings might signal that traders had grown optimistic about the market’s prospects. While that signal alone would never be enough to trade on, when added to dozens or even hundreds of other signals, a clearer picture might emerge. Deploying such techniques, Cerebellum’s Invention Machine struck gold: Andre and Teller discovered an anomaly in the market that appeared to generate a nearly perfect, steady return of about 7 percent a year.

pages: 293 words: 97,431

You Are Here: Why We Can Find Our Way to the Moon, but Get Lost in the Mall by Colin Ellard

A Pattern Language, call centre, car-free, Chuck Templeton: OpenTable, Frank Gehry, global village, Google Earth, Jane Jacobs, Jaron Lanier, job satisfaction, Marshall McLuhan, McMansion, New Urbanism, peak oil, polynesian navigation, Ralph Waldo Emerson, the built environment, The Death and Life of Great American Cities, the medium is the message, traveling salesman, urban planning, urban sprawl

The basic cubicle design is still often a mainstay, though the manner in which its enclosing walls encourage or inhibit interactivity, and the effects of cubicle organization on workflow management, are garnering more attention than in previous times. Yet there is much work to be done to understand how space can be utilized to maximize productivity, economy, and job satisfaction. Some offices have tried moving to completely open designs in which employees are not provided with dedicated workspaces at all but are left to organize their own spaces using open tables and mobile technologies, perhaps with a few specialized walled areas to enhance privacy for smaller face-to-face meetings. Though such an open plan might work well for certain types of activities, especially for very small companies, it is less likely to be satisfactory for larger institutions, unless those institutions can rely heavily on mobile communications and are willing to encourage telecommuting.

pages: 868 words: 149,572

CSS: The Definitive Guide by Eric A. Meyer


centre right, Chuck Templeton: OpenTable, conceptual framework, Ralph Waldo Emerson

Seeing the background of table-formatting layers through other layers Captions A table caption is about what you'd expect: a short bit of text that describes the nature of the table's contents. A chart of stock quotes for the fourth quarter of 2003, therefore, might have a caption element whose contents read "Q4 2003 Stock Performance." With the property caption-side, you can place this element either above or below the table, regardless of where the caption appears in the table's structure. (In HTML, the caption element can appear only after the opening table element, but other languages may have different rules.) Captions are a bit odd, at least in visual terms. The CSS specification states that a caption is formatted as if it were a block box placed immediately before (or after) the table's box, with a couple of exceptions. The first is that the caption can still inherit values from the table, and the second is that a user agent ignores a caption's box when considering what to do with a run-in element that precedes the table.

pages: 523 words: 144,971

The Windup Girl by Paolo Bacigalupi


air freight, Chuck Templeton: OpenTable, oil rush, South China Sea

There are times when he thinks he understands how the world works, and then, every so often, he lifts the lid of some new part of the divine city and finds roaches scuttling where he never expected. Something new, indeed. He goes to the next food cart, stacked with trays of chile-laden pork and RedStar bamboo tips. Fried snakehead plaa, battered and crisp, pulled from the Chao Phraya River that day. He orders more food. Enough for both of them, and Sato for drinking. He settles at an open table as the food is brought out. Teetering on a bamboo stool at the end of his day, with rice beer warming his belly, Jaidee can't help smiling at his dour subordinate. As usual, even with good food before her, Kanya remains herself. "Khun Bhirombhakdi was complaining about you at headquarters," she says. "He said he would go to General Pracha, and have your smiling lips ripped off." Jaidee scoops chiles into his mouth.

Pragmatic.Programming.Erlang.Jul.2007 by Unknown


Chuck Templeton: OpenTable, Debian,, fault tolerance, finite state, full text search, RFC: Request For Comment, sorting algorithm

. %% scan the word looking for \r\n %% the second argument is the word (reversed) so it %% has to be reversed when we find \r\n or run out of characters get_next_word([$\r,$\n|T], L) -> {reverse([$\s|L]), T}; get_next_word([H|T], L) -> get_next_word(T, [H|L]); get_next_word([], L) -> {reverse([$\s|L]), []}. scan_trigrams([X,Y,Z], F, A) -> F([X,Y,Z], A); 289 C ODE L ISTINGS scan_trigrams([X,Y,Z|T], F, A) -> A1 = F([X,Y,Z], A), scan_trigrams([Y,Z|T], F, A1); scan_trigrams(_, _, A) -> A. %% access routines %% open() -> Table %% close(Table) %% is_word(Table, String) -> Bool is_word(Tab, Str) -> is_word1(Tab, "\s" ++ Str ++ "\s" ). is_word1(Tab, [_,_,_]=X) -> is_this_a_trigram(Tab, X); is_word1(Tab, [A,B,C|D]) -> case is_this_a_trigram(Tab, [A,B,C]) of true -> is_word1(Tab, [B,C|D]); false -> false end; is_word1(_, _) -> false. is_this_a_trigram(Tab, X) -> case ets:lookup(Tab, list_to_binary(X)) of [] -> false; _ -> true end. open() -> {ok, I} = ets:file2tab(filename:dirname(code:which(?

pages: 320 words: 87,853

The Black Box Society: The Secret Algorithms That Control Money and Information by Frank Pasquale


Affordable Care Act / Obamacare, algorithmic trading, Amazon Mechanical Turk, American Legislative Exchange Council, asset-backed security, Atul Gawande, bank run, barriers to entry, basic income, Berlin Wall, Bernie Madoff, Black Swan, bonus culture, Brian Krebs, call centre, Capital in the Twenty-First Century by Thomas Piketty, Chelsea Manning, Chuck Templeton: OpenTable, cloud computing, collateralized debt obligation, computerized markets, corporate governance, Credit Default Swap, credit default swaps / collateralized debt obligations, crowdsourcing, cryptocurrency, Debian, don't be evil, drone strike, Edward Snowden,, Fall of the Berlin Wall, Filter Bubble, financial innovation, financial thriller, fixed income, Flash crash, full employment, Goldman Sachs: Vampire Squid, Google Earth, Hernando de Soto, High speed trading, hiring and firing, housing crisis, informal economy, information asymmetry, information retrieval, interest rate swap, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, Julian Assange, Kevin Kelly, knowledge worker, Kodak vs Instagram, kremlinology, late fees, London Interbank Offered Rate, London Whale, Marc Andreessen, Mark Zuckerberg, mobile money, moral hazard, new economy, Nicholas Carr, offshore financial centre, PageRank, pattern recognition, Philip Mirowski, precariat, profit maximization, profit motive, quantitative easing, race to the bottom, recommendation engine, regulatory arbitrage, risk-adjusted returns, Satyajit Das, search engine result page, shareholder value, Silicon Valley, Snapchat, Spread Networks laid a new fibre optics cable between New York and Chicago, statistical arbitrage, statistical model, Steven Levy, the scientific method, too big to fail, transaction costs, two-sided market, universal basic income, Upton Sinclair, value at risk, WikiLeaks, zero-sum game

Software encodes thousands of rules and instructions computed in a fraction of a second. Such automated processes have long guided our planes, run the physical backbone of the Internet, and interpreted our GPSes. In short, they improve the quality of our daily lives in ways both noticeable and not. But where do we call a halt? Similar protocols also influence— invisibly—not only the route we take to a new restaurant, but which restaurant Google, Yelp, OpenTable, or Siri recommends to us. They might help us fi nd reviews of the car we drive. Yet choosing a car, or even a restaurant, is not as straightforward as optimizing an engine or routing a drive. Does the recommendation engine take into account, say, whether the restaurant or car company gives its workers health benefits or maternity leave? Could we prompt it to do so? In their race for the most profitable methods of mapping social reality, the data scientists of Silicon Valley and Wall Street tend to treat recommendations as purely technical problems.

pages: 380 words: 118,675

The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone


3D printing, airport security, AltaVista, Amazon Mechanical Turk, Amazon Web Services, bank run, Bernie Madoff, big-box store, Black Swan, book scanning, Brewster Kahle, call centre, centre right, Chuck Templeton: OpenTable, Clayton Christensen, cloud computing, collapse of Lehman Brothers, crowdsourcing, cuban missile crisis, Danny Hillis, Douglas Hofstadter, Elon Musk, facts on the ground, game design, housing crisis, invention of movable type, inventory management, James Dyson, Jeff Bezos, John Markoff, Kevin Kelly, Kodak vs Instagram, late fees, loose coupling, low skilled workers, Maui Hawaii, Menlo Park, Network effects, new economy, optical character recognition,, Ponzi scheme, quantitative hedge fund, recommendation engine, Renaissance Technologies, RFID, Rodney Brooks, search inside the book, shareholder value, Silicon Valley, Silicon Valley startup, six sigma, skunkworks, Skype, statistical arbitrage, Steve Ballmer, Steve Jobs, Steven Levy, Stewart Brand, Thomas L Friedman, Tony Hsieh, Whole Earth Catalog, why are manhole covers round?, zero-sum game

Others felt Bezos didn’t listen to them and that he wasn’t about to start. Almost all figured that Amazon’s best days were behind it. The company reached incredible levels of attrition in 2002 and 2003. “The number of employees at that point other than Jeff who thought he could turn it into an eighty-billion-dollar company—that’s a short list,” says Doug Boake, who departed for the Silicon Valley startup OpenTable. “He just never stopped believing. He never blinked once.” They all had their reasons. David Risher left to teach at the University of Washington’s business school. Joel Spiegel wanted to spend more time with his three teenage kids before they left home. Mark Britto wanted to get back to the Bay Area. Harrison Miller was exhausted and needed a change. Chris Payne left for Microsoft, where he would help launch the Bing search engine, after which he would end up as a top executive at eBay.

pages: 625 words: 167,097

Kiln People by David Brin


Chuck Templeton: OpenTable, index card, jitney, life extension, pattern recognition, phenotype, price anchoring, prisoner's dilemma, Schrödinger's Cat, telepresence, Vernor Vinge, your tax dollars at work

Living noise that grabs your body like a cloying lover, hampering every move. I don't like this "music," but the garish dancers do, throwing themselves into frenetic collisions that few could mimic in flesh. Bits of clay fly, as if from a potter's wheel. Staunch partiers have a saying -- if your ditto makes it home in one piece, you didn't have a good time. Seating booths line the walls. Others lounge at open tables that project garish holo images -- whirling abstractions, vertigeffigies, or gyrating strippers. Some draw the eye against your will. Sidling around the mob, I pass through a fringe minimum, where the sonic dampers overlap, canceling everything to a hush, like inside a padded coffin. Stray bits of dialogue converge from all over the club. " ... so there's this clamber-amble, creeping up my leg?

pages: 309 words: 114,984

The Digital Doctor: Hope, Hype, and Harm at the Dawn of Medicine’s Computer Age by Robert Wachter


activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, AI winter, Airbnb, Atul Gawande, Captain Sullenberger Hudson, Checklist Manifesto, Chuck Templeton: OpenTable, Clayton Christensen, collapse of Lehman Brothers, computer age, creative destruction, crowdsourcing, deskilling,, Erik Brynjolfsson, everywhere but in the productivity statistics, Firefox, Frank Levy and Richard Murnane: The New Division of Labor, Google Glasses, Ignaz Semmelweis: hand washing, Internet of things, job satisfaction, Joseph Schumpeter, knowledge worker, lifelogging, medical malpractice, medical residency, Menlo Park, minimum viable product, natural language processing, Network effects, Nicholas Carr, obamacare, pattern recognition, peer-to-peer, personalized medicine,, Productivity paradox, Ralph Nader, RAND corporation, Second Machine Age, self-driving car, Silicon Valley, Silicon Valley startup, six sigma, Skype, Snapchat, software as a service, Steve Jobs, Steven Levy, the payments system, The Wisdom of Crowds, Thomas Bayes, Toyota Production System, Uber for X, US Airways Flight 1549, Watson beat the top human players on Jeopardy!, Yogi Berra

Before I go any further, it’s important that you understand that I am all for the wiring of healthcare. I bought my first computer in 1984, back when one inserted and ejected floppy disks so often (“Insert MacWrite Disk 2”) that the machine felt more like an infuriating toaster than a sparkling harbinger of a new era. Today, I can’t live without my MacBook Pro, iPad, iPhone, Facetime, Twitter, OpenTable, and Evernote. I even blog and tweet. In other words, I am a typical electronically overendowed American. And healthcare needs to be disrupted. Despite being staffed with (mostly) well-trained and committed doctors and nurses, our system delivers evidence-based care only about half the time, kills a jumbo jet’s worth of patients each day from medical mistakes, and is bankrupting the country. Patients and policy makers are no longer willing to tolerate the status quo, and they’re right not to.

pages: 505 words: 142,118

A Man for All Markets by Edward O. Thorp


3Com Palm IPO, Albert Einstein, asset allocation, beat the dealer, Bernie Madoff, Black Swan, Black-Scholes formula, Brownian motion, buy low sell high, carried interest, Chuck Templeton: OpenTable, Claude Shannon: information theory, cognitive dissonance, collateralized debt obligation, compound rate of return, Credit Default Swap, credit default swaps / collateralized debt obligations, diversification, Edward Thorp, Erdős number, Eugene Fama: efficient market hypothesis, financial innovation, George Santayana, German hyperinflation, Henri Poincaré, high net worth, High speed trading, index arbitrage, index fund, interest rate swap, invisible hand, Jarndyce and Jarndyce, Jeff Bezos, John Meriwether, John Nash: game theory, Kenneth Arrow, Livingstone, I presume, Long Term Capital Management, Louis Bachelier, margin call, Mason jar, merger arbitrage, Murray Gell-Mann, Myron Scholes, NetJets, Norbert Wiener, passive investing, Paul Erdős, Paul Samuelson, Pluto: dwarf planet, Ponzi scheme, price anchoring, publish or perish, quantitative trading / quantitative finance, race to the bottom, random walk, Renaissance Technologies, RFID, Richard Feynman, Richard Feynman, risk-adjusted returns, Robert Shiller, Robert Shiller, rolodex, Sharpe ratio, short selling, Silicon Valley, statistical arbitrage, stem cell, survivorship bias, The Myth of the Rational Market, The Predators' Ball, the rule of 72, The Wisdom of Crowds, too big to fail, Upton Sinclair, value at risk, Vanguard fund, Vilfredo Pareto, Works Progress Administration

My only experience in a casino had been my earlier adventure putting a few coins in a slot machine. After settling into our hotel room, we headed for the casino. Weaving past drinkers, smokers, and slot machines, I found two rows of blackjack tables, separated by an aisle or “pit” complete with reserves of chips, extra cards, and cocktail waitresses who offered alcoholic nirvana to the marks, or suckers, all of whom the pit boss monitored closely. It was early afternoon and the few open tables were busy. Managing to get a seat, I plunked down my entire stake—a stack of ten silver dollars—on the green felt table behind my “betting spot.” I didn’t expect to win, since the odds were slightly against me, but as I expected to build a device to successfully predict roulette and had never gambled before, it was time to get casino experience. I knew virtually nothing about casinos, their history, or how they operated.

pages: 508 words: 137,199

Stamping Butterflies by Jon Courtenay Grimwood

affirmative action, Brownian motion, Burning Man, carbon-based life, Chuck Templeton: OpenTable, dark matter, phenotype

Tris could tell from the lag it left between her question and its answer. "They'll die," it said. "Land in a lake." "What?" "Find a lake," Tris said. "Then land in it. Which bit of that don't you understand?" "If I land in a lake," said the yacht, "then I'm going to die." "You're not alive. You told me so yourself. A C-class semi. Do semiAIs qualify as sentient? I don't think so." She stuck her head further inside the newly opened table and followed what looked like a rainbow twisting together towards a blue light. "What happens if I touch this?" "We crash a little earlier than intended," said the yacht icily. And then it said nothing for a very long time until: "Lake," said the ship. Rocky cliffs rising on both sides and barren peaks, now higher than the ship, shrouded in mist and fringed with ice. Under them hung a fat nebula of cloud, mountainous with snow.

pages: 821 words: 227,742

I Want My MTV by Craig Marks


Bernie Sanders, Bob Geldof, Chuck Templeton: OpenTable, crack epidemic, crowdsourcing, haute couture, Live Aid, pre–internet, Ronald Reagan, Saturday Night Live, sensible shoes, Skype, Steve Jobs, Steve Wozniak, Steven Levy, upwardly mobile

ROBERT LOMBARD: I became part of the inner circle of Van Halen. I had carte blanche at their offices on Sunset. I ended up living across the street from Dave. We would go out and chase girls. And do drugs. And drink Jack. I had my own bodyguard. When Dave walked in a club it was—and I don’t like to use religious terms—it was like God parting the waters. One night we went to the Troubadour to look for girls and there were no open tables, and they told people they had to leave so we could sit down. Girls would come to our table, lift their skirts up, pull their panties down, and throw ’em at David. Or undo their tops. No one had the charisma David Lee Roth had. He had midgets all over the place who hung out to drink. At that time, I drove a 924 Porsche with a hatchback, and the midgets used to sit in the trunk. MARK GOODMAN: I interviewed David Lee Roth at the U.S.

pages: 719 words: 209,224

The Dead Hand: The Untold Story of the Cold War Arms Race and Its Dangerous Legacy by David Hoffman


active measures, anti-communist, banking crisis, Berlin Wall, Chuck Templeton: OpenTable, crony capitalism, cuban missile crisis, failed state, joint-stock company, Mikhail Gorbachev, mutually assured destruction, nuclear winter, Robert Hanssen: Double agent, rolodex, Ronald Reagan, Ronald Reagan: Tear down this wall, Silicon Valley, Stanislav Petrov, Thomas L Friedman, uranium enrichment, Vladimir Vetrov: Farewell Dossier, zero-sum game

From another container, they took a rod-shaped ingot, and Weber hefted it, surprised at how heavy the uranium felt. Gift wanted to break off a piece and bring it back as a sample. He asked a technician to take a wood-handled hammer and a chisel to it, but the ingot would not break. Weber went off with another worker to watch him file off some shavings they could take as samples. At first, the technicians handled the uranium in a glove box, but one of them took it out and placed it on an open table in the center of the room. The technician slid a piece of paper under it and began to file the ingot. Sparks flew, like a child's holiday sparkler. "My eyes are lighting up, because I've had this chunk of metal in my hand," Weber recalled. "I know it is bomb material. This uranium metal would require nothing--just being banged into the right shape and more of it to make a bomb. It didn't need any processing.

pages: 651 words: 180,162

Antifragile: Things That Gain From Disorder by Nassim Nicholas Taleb


Air France Flight 447, Andrei Shleifer, banking crisis, Benoit Mandelbrot, Berlin Wall, Black Swan, Chuck Templeton: OpenTable, commoditize, creative destruction, credit crunch, Daniel Kahneman / Amos Tversky, David Ricardo: comparative advantage, discrete time, double entry bookkeeping, Emanuel Derman, epigenetics, financial independence, Flash crash, Gary Taubes, George Santayana, Gini coefficient, Henri Poincaré, high net worth, hygiene hypothesis, Ignaz Semmelweis: hand washing, informal economy, invention of the wheel, invisible hand, Isaac Newton, James Hargreaves, Jane Jacobs, joint-stock company, joint-stock limited liability company, Joseph Schumpeter, Kenneth Arrow, knowledge economy, Lao Tzu, Long Term Capital Management, loss aversion, Louis Pasteur, mandelbrot fractal, Marc Andreessen, meta analysis, meta-analysis, microbiome, money market fund, moral hazard, mouse model, Myron Scholes, Norbert Wiener, pattern recognition, Paul Samuelson, placebo effect, Ponzi scheme, principal–agent problem, purchasing power parity, quantitative trading / quantitative finance, Ralph Nader, random walk, Ray Kurzweil, rent control, Republic of Letters, Ronald Reagan, Rory Sutherland, selection bias, Silicon Valley, six sigma, spinning jenny, statistical model, Steve Jobs, Steven Pinker, Stewart Brand, stochastic process, stochastic volatility, The Great Moderation, the new new thing, The Wealth of Nations by Adam Smith, Thomas Bayes, Thomas Malthus, too big to fail, transaction costs, urban planning, Vilfredo Pareto, Yogi Berra, Zipf's Law

There was little exposure to the other wealthy biggies, just as mafia dons don’t socialize with other mafia dons but with their constituents. To a large extent, that’s how my grandfather and great-grandfather lived, as they were local landowners and politicians; power was accompanied by a coterie of dependents. Provincial landowners were required to maintain an occasional “open house,” with an open table for people to come help themselves to the fruits of the wealth. Court life, on the other hand, leads to corruption—the nobleman comes from the provinces, where he is now brought down to size; he faces more flamboyant, wittier persons and feels pressure to prop up his self-esteem. People who would have lost their status in the cities conserve it in the provinces. You cannot possibly trust someone on a treadmill.

Random Family: Love, Drugs, Trouble, and Coming of Age in the Bro by LeBlanc, Adrian Nicole

Chuck Templeton: OpenTable, illegal immigration, mandatory minimum, white picket fence, working poor

Mercedes, who was almost four, was more direct; sometimes it was as though she voiced her mother’s unspoken worries and doubts. One day early that winter, Coco took the girls by Lourdes’s. Lourdes was still denying that Domingo had anything to do with why her arm was in a cast. Lourdes was holding court in bed, her long hair loose, a blanket wrapped around her waist like the base of a Christmas tree. Two women sat on the bed beside her, while another scrubbed a blackened pot. Domingo sat at a half-open table, chopping cilantro. He placed fistfuls of the cut greens beside an impressive pile of garlic. A man stood beside him, sipping a beer. When Coco entered, all conversation stopped. Lourdes beckoned her over. The ladies left. With her good arm, Lourdes whisked Nautica up. She held the whole of Nautica’s head in her palm, infant face to Grandma. “Look at this fucking baby!” she shouted gleefully.

Frommer's Israel by Robert Ullian


airport security, British Empire, car-free, Chuck Templeton: OpenTable, East Village, haute cuisine, Khartoum Gordon, mass immigration, Maui Hawaii, place-making, Silicon Valley, Skype, sustainable-tourism, trade route, urban planning, urban sprawl, Yom Kippur War

The showroom is generally open Sunday to Thursday from noon until late in the evening, Friday from 11am to 3pm, and on Saturday evenings after Shabbat. Credit cards are accepted. 3 Mazal Dagim St. Old Jaffa. & 03/683-5336. MARKETS Carmel Market (Shuk Ha-Carmel) At the six-sided intersection of Allenby, Nahalat Binyamin, King George, and Sheinkin streets, you enter this gigantic, throbbing, open-air food-plus-everything-else market where vendors hawk everything from pistachios and guavas to sun hats and memorial candles on open tables lining the many shopping streets. Many vendors have their own songs, which tell you all about the price and quality of what is being sold. Sometimes one vendor sings against another in a competitive duet. The market runs into side streets, large and small, one side favoring dry goods and the other dried beans, fruit, nuts, and spices in all colors and fragrances, sold from sacks. The market is open Sunday to Thursday from 8am until dark and on Friday from 8am to 2pm.

USA Travel Guide by Lonely, Planet

1960s counterculture, active transport: walking or cycling, Affordable Care Act / Obamacare, Albert Einstein, Asilomar, Bay Area Rapid Transit, Berlin Wall, Big bang: deregulation of the City of London, big-box store, bike sharing scheme, Bretton Woods, British Empire, Burning Man, California gold rush, call centre, car-free, carbon footprint, centre right, Chuck Templeton: OpenTable, cuban missile crisis, desegregation, Donald Trump, Donner party, East Village, edge city, El Camino Real, Fall of the Berlin Wall, feminist movement, Frank Gehry, glass ceiling, global village, Golden Gate Park, Guggenheim Bilbao, Haight Ashbury, haute couture, haute cuisine, Hernando de Soto, Howard Zinn, illegal immigration, immigration reform, information trail, interchangeable parts, intermodal, jitney, license plate recognition, Mars Rover, Mason jar, mass immigration, Maui Hawaii, McMansion, Menlo Park, Monroe Doctrine, new economy, New Urbanism, obamacare, off grid, Ralph Nader, Ralph Waldo Emerson, RFID, ride hailing / ride sharing, Ronald Reagan, Rosa Parks, Saturday Night Live, Silicon Valley, South of Market, San Francisco, stealth mode startup, stem cell, supervolcano, the built environment, The Chicago School, the High Line, the payments system, trade route, transcontinental railway, union organizing, Upton Sinclair, upwardly mobile, urban decay, urban planning, urban renewal, urban sprawl, walkable city, white flight, working poor, Works Progress Administration, young professional, Zipcar

Ubuntu VEGETARIAN $$$ ( 707-251-5656;; 1140 Main St, Napa; dishes $14-18; 11:30am-2:30pm Sat & Sun, 5:30-8:30pm daily; ) The Michelin-starred seasonal, vegetarian menu features wonders from the kitchen garden, satisfying hearty eaters with four-to-five inspired small plates, and eco-savvy drinkers with 100-plus sustainably produced wines. French Laundry CALIFORNIAN $$$ ( 707-944-2380;; 6640 Washington St, Yountville; fixed-price menu $270; 11:30am-2:30pm Sat & Sun, 5:30-9pm daily) A high-wattage culinary experience on par with the world’s best, French Laundry is ideal for marking lifetime achievements. Book exactly two months ahead: call at 10am (or try at midnight). If you can’t score a table, console yourself at Keller’s nearby note-perfect French brasserie Bouchon; or with chocolate cake at Bouchon Bakery. SONOMA VALLEY More casual, less commercial than Napa, Sonoma Valley has 70 wineries around Hwy 12 – and unlike Napa, most welcome picnicking. Sights & Activities Sonoma Plaza SQUARE (Napa, Spain & 1st Sts, Sonoma) Downtown Sonoma was once the capital of a rogue nation.