The Sunday Brew #48
In this brew - Global Stock Market in a picture | Zeigarnik Effect & Pratfall Effect | SBF Trial is on, Amazon launches satellite prototypes in space, recession fears plummets oil prices
Welcome to The Sunday Brew, weekly 1-2-3 newsletter by The Percolator. Every Sunday we drop in your inbox 1 story in a picture, 2 concepts, ideas or frameworks to expand your horizons and 3 news from the week, to keep you updated.
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ONE STORY IN A PICTURE
TWO IDEAS, FRAMEWORKS OR CONCEPTS
This week we bring to you two concepts - Zeigarnik Effect & Pratfall Effect
Zeigarnik Effect
The Zeigarnik Effect is a cognitive phenomenon that sheds light on how our brains process and remember tasks.
It's named after Bluma Zeigarnik, a psychologist who noticed an intriguing pattern in a Viennese restaurant. She observed that waiters only remembered orders that were in the process of being served, but once an order was complete, it seemed to vanish from their memory. This observation led to the formulation of the Zeigarnik Effect.
At its core, the Zeigarnik Effect suggests that our minds have a penchant for holding onto incomplete tasks. When we start something, our brain creates a mental 'to-do' list, and until that task is finished, it remains at the forefront of our consciousness. This creates a sense of cognitive tension, a subtle nagging feeling that urges us to complete what we've started. It's this very tension that keeps us motivated and focused on the task at hand. Once a task is accomplished, this mental weight is lifted, and we're free to move on to the next.
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Pratfall Effect
The Pratfall Effect is an psychological phenomenon that centres around the concept of vulnerability and its impact on perceptions of competence.
Coined by social psychologist Elliot Aronson, this effect suggests that making a small, non-threatening mistake or showing a minor flaw can actually increase a person's attractiveness and likability.
In essence, the Pratfall Effect implies that perfection isn't always the key to winning people over. When someone we perceive as competent and accomplished makes a minor blunder, it humanizes them and makes them more relatable. It dispels the notion of an unattainable, flawless image, and instead fosters a sense of authenticity and approachability.
THREE NEWS FROM THE WEEK
Trial of Sam Bankman-Fried is Ongoing
The trial of FTX founder Sam Bankman-Fried is grabbing big eye balls as all the major media is flocking to New York to cover it, social media is abuzz with all kind of discussions and feature length stories are being run on the TV about all things crypto. The repercussion of this case is being said to go well beyond one person, and can impact the whole industry. It is being said that crypto itself is on fire. Gary Wang, a lesser know co-founder of FTX have pleaded guilty and have accepted that he along with SBF committed financial crimes. Read More»»»
You can follow the live update of the trial on the Wired.
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Amazon launches Project Kuiper to compete with SpaceX’s Starlink
Amazon launched two internet satellite prototypes on October 5, 2023, to compete with SpaceX's Starlink constellation. The satellites, named KuiperSat-1 and KuiperSat-2, were launched on a United Launch Alliance Atlas V rocket from Cape Canaveral Space Force Station in Florida.
Amazon's Project Kuiper aims to build a network of 3,236 satellites in low Earth orbit to provide high-speed internet access to people around the world, especially in underserved and remote areas. The company has invested billions of dollars in the project and plans to begin launching production satellites in early 2024. Read More »»»
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Demand destruction fears plummets Oil Prices
Oil prices fell below $90 per barrel for the first time since March, due to concerns about a global recession. On October 7, the price of Brent crude, the global benchmark, settled at $89.92 per barrel whereas, the price of West Texas Intermediate (WTI), the US benchmark, was at $86.67 per barrel.
The concerns around impending global recession is resulting in investors anticipating a reduced demand of fossil fuel as economic activities slow down. This has caused the plummeting of the prices. Read More»»»
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The Sunday Brew by The Percolator brings to you curated news on tech, business & entrepreneurship, from across the internet to give your week a perfect start.
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