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MAY 2016 ISSUE 1, VOL 6
Privacy in the Face of National Security
The Price of Campaign Promises
Indian Wives "Victims in Their Own Homes"
MARKETS
OPINION
FEATURES
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Page 6
Meditation & Me Page 9
STUDENT LIFE
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SIGN OF THE TIMES: 'MR. AND MRS. STERN' CANCELLED
DIVERSITY CONCERNS PROMPT CANCELLATION OF EVENT
SM Dipali
Class of 2016
ll As the push for increased diversity and inclusion at universities gains momentum nationwide, students are feeling its direct effects on day-to-day campus life at Stern. Stern Student Council’s annual pageant-style competition, “Mr. and Mrs. Stern”, slated to be held on March 29th, was cancelled just days before the scheduled date, amid discussions regarding its alleged exclusivity. “There is a very important conversation going on in the whole of NYU about diversity – yet there’s a competition like this in Stern that goes directly against those types of conversations,” said Thomas Pence, a senior in Stern studying Marketing. Pence was one of four Stern seniors who approached members of Student Council and the Dean’s Office to discuss problems with the event and how it could be made more inclusive. The coalition of students outlined three major issues with the event. “Firstly, the competition was queerphobic, in that it reinforces the male / female binary by requiring candidates to be either a Mr. or Mrs. Secondly, it’s homophobic, because the terms “Mr. and Mrs.” reinforce the traditional, heteronormative view of marriage, between a man and woman. Thirdly, it’s sexist, because the term “Mrs.” implies that the woman would have to be married to a man, reinforcing the idea that a woman is ‘owned’ by a man,” said Pence.
In a series of conversations with Student Council members and administrators from the Dean’s Office, the students discussed how to best approach the issue in a way that included all members of the Stern community. “This was the first time I had ever received formal pushback on this program. It was a new type of issue for everyone involved, and we wanted to make sure we were respectful of everyone’s opinion and open to new ideas. Ultimately though, because there
...we wanted to make sure we were respectful of everyone’s opinion... - Shahryar Bachani Stern Student Council President
was very little time to re-program the event, we decided to cancel it all together,” said Shahryar Bachani, Stern Student Council President. Bachani also sits on the NYU University Senate. The controversy over “Mr. and Mrs. Stern” takes place against the backdrop of nationwide initiatives to increase diversity and inclusion on university campuses. A wave of racially motivated activism began late last year, when students at the University
of Missouri, including members of the school’s football team, protested for the ousting of the university president, Tim Wolfe. Students accused Wolfe of not addressing racist and bigoted incidents that occurred during the academic year, including when a swastika was drawn on a university building wall with human feces. Wolfe resigned amid protests. The racist episodes that shook the Missouri campus set administrators around the country on frantic course correction efforts. Universities like Princeton and Syracuse have held town halls to hear student and faculty complaints, adjusted recruiting strategies, and created new administrative positions focused on diversity and inclusion. At NYU, former President John Sexton hosted a town hall listening event last November to gather feedback and input from the NYU community on diversity and inclusion. When current President Andrew Hamilton assumed office in March, this topic was one of his top priorities. In addition to these conversations, the Stern administration also looked to create tailored initiatives at the school level. In midApril, Dean Peter Henry announced the formation of the Stern Diversity and Inclusion Task Force, which aims to “(a) assess what Stern is doing and how well it is doing with respect to supporting diversity and fostering inclusion, (b) formulate actionable recommendations for improvement, and (c) create mechanisms for tracking progress.” The Task Force includes Deans, students, and faculty from both the undergraduate and graduate college.
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Privacy in the face of national security Implications of the Apple debate on privacy Lauren Tai
Class of 2017
ll On February 16, 2016, in his letter to customers, Apple CEO Tim Cook brought to light the long-running issue of individual privacy in the face of national security, forcing people to take a stance on the extent to which the former should be compromised by the latter. While the government inherently assumes the position as the good guys in most debates, in its firm rejection to the FBI, Apple sends a convincing message that the business and social implications need to be examined more closely before the government can claim that what it demands is right. The issue escalated and went public when the FBI presented Apple with a court order under the All Writs Act, mandating that Apple create a new version of software that could bypass security features on its current iOS 9. The software requested by the FBI would essentially be a version of iOS 9 to be installed without the 10-guess password limit, which currently runs the risk of wiping the phone completely if guesses are maxed out. This request was sent to access the locked iPhone that belonged to the terrorist behind the San Bernardino attack; it was a national security lead being pursued by FBI. However, the nature of the software creates a risk should the program get into the wrong hands and as Cook asserts, the repercussions and implications need to be carefully considered. Though the FBI has maintained that the new code would be strictly tailored to this one phone for this one time use, this request could set precedent: the FBI could gain access to other iPhones in the future by simply demanding that Apple write new custom code. In addition, though the FBI has maintained that the code would be eradicated after unlocking the San Bernardino phone, simply creating the code runs the risk of access by hackers or criminals who could modify the code and compromise security for all. Cook raises valid points in his letter. He emphasizes the need for encryption, stating
that by compromising the security of our personal information, we ultimately put our personal safety at risk. Though this case has been postponed since March 21st, it comes with huge implications for our personal security. Despite Apple’s objection to the FBI’s request, the government has already found a third-party to open the iPhone, possibly cutting short the FBI’s ongoing encryption debate. A majority of Americans, 62% according to Pew Research Center, agree that it is important for the federal government to investigate possible terrorist threats, even if it intrudes on personal privacy. Nevertheless, the danger from hackers who can get ahold of our data by accessing it without our knowledge or permission is paramount. Think about the information that is contained on our smart devices: photos, calendar, contacts, and even more sensitive data such as financial information, health reports, saved passwords, and locations - and for some, the locations of their loved ones. We all have a right to privacy, especially on our mobile devices - an extremely intimate part of our lives. Since encryption is the only means we have of protecting our personal data, it is a shield that should never be jeopardized. Doing so would not only infringe upon our right to privacy but also leave us vulnerable. As citizens we already compromise personal information in the face of national security, most visibly through the government’s phone surveillance program, exposed two and half years ago by former CIA employee Edward Snowden. However, just late last year, the NSA announced that it will scale-back government spying capabilities, end wide-scale tapping into Americans’ phone records, and opt for a more targeted surveillance approach. This move was a large win for privacy advocates and technology companies, as the surveillance program did not directly advance counter terrorism. Further, its cut-back rebalanced privacy to where it belongs, in the hands of Americans. However, as evidenced in the Apple case, the government has other less visible means of obtaining private information -primarily by compelling companies to hand over information.
"By compromising the security of our personal information, we ultimately put our personal safety at risk"
Source: Apple
Photo Courtesy of CNBC
Jack Ma and the Growth of Alibaba since its IPO Peter Xu
Class of 2019
ll On September 5, 2014, Alibaba Group said ‘Open Sesame’ to financial fame when its IPO raised a historical $21.8 billion, making Alibaba’s IPO the biggest in history. While seemingly excessive, that amount of funding might be necessary considering the extent of Alibaba’s future plans. With its method of connecting buyers and sellers, Alibaba acts as a national virtual marketplace where business suppliers and individual sellers find buyers for products and services; yet the expansion does not end there. Alibaba’s creator and Executive Chairman, Jack Ma, wants American small businesses to use Alibaba to find a market for their products in China. Recently, in a joint presentation with American Express CEO, Ken Chenault, Ma indicated that he is interested in providing low-cost, possibly free, listing services for American small businesses. This free listing approach worked once before when upstart Alibaba overtook eBay in China. Competitor eBay had already entered the Chinese market and held more than 90% of the market share when Alibaba started. Undaunted, Alibaba nurtured its business customers by offering six years of free
listing services and delivering access to nationwide and even worldwide markets. The result turned the tables on eBay. Alibaba eventually grew to cover over 80% of all types of e-commerce (B2B, B2C, and C2C) in China, pushing out eBay’s China operation. Much of Alibaba’s success rests on CEO Jack Ma and according to him, the skills he learned as a 15-dollar-a-month teacher. Beginning with his first job as an English teacher at Hangzhou Dianzi University, Ma promoted the growth of others. Then in 1995, Ma found something to teach to all of China. On a trip to the US, a friend of Ma’s introduced him to the Internet with the notion that one could search anything on the web. He took his discovery back home and convinced some friends to help him create an online ‘Yellow Pages’ for Chinese businesses. These 17 friends would go on to create Alibaba.com, becoming co-founders in the operation. One of the largest hurdles Jack overcame was the CCP’s distrust of the Internet. In 1995, the government had initially rejected Jack’s vision of an online marketplace, seeing the Internet as an uncertain phenomenon. To help ease government fears, Alibaba.com took an approach where the company respects the government’s security needs, while extolling the
benefits of the Internet as well. As an e-commerce company and business facilitator, Alibaba avoids issues like censorship, all the while creating an estimated 14 million jobs and aiding the government’s goal in turning the Chinese towards an ever-adaptable consumption-based system. Today, Alibaba.com has the enthusiastic support of the government – which sees the company as a major job-maker for small and medium sized businesses and a foundation for a better economic model. Throughout company growth, Ma has made customer needs his first priority. The increasingly tech-savvy Chinese consumers, both urban and rural dwellers, now access numerous products that they have never seen before. The same benefits can be applied to once isolated sellers who now have access to the largest national consumer base on the planet. As Jack stated: “Let the … investors curse us if they want. We still follow the principle of customers first, employees second and investors third.” However, investors are not cursing the company. Stocks for Alibaba Group are on the upswing while Seeking Alpha calls it, “The Most Attractive Growth Stock in 2016.” Time will tell whether or not Jack Ma and Alibaba can attract America’s small businesses.
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the high tide of the industry? Simone Tandon Class of 2019
ll The new streaming service, Tidal, was launched with a mission –a mission to reestablish the value of music. Publically unveiled by Jay Z in March 2015, Tidal is supported by some of the most successful names in the music industry – including artists such as Alicia Keys, Beyoncé, Nicki Minaj, Madonna, and Kanye West. Tidal was created to essentially privatize the distribution of music to create a more sustainable and equitable model for artists. Tidal differentiates itself from other streaming services by offering artist exclusives. Kanye West followed Beyoncé’s “Formation” and gave sole streaming rights to Tidal for his much-anticipated, “The Life of Pablo” album. His exclusive immediately pushed Tidal to number one on the iOS app store. According to a study by Digital Music News, the number of subscribers, “more than doubled from around 1 million to 2.5 million”. It is, however, questionable how many users will go on to pay the monthly fee after their 30-day free trial ends. It seems easy enough to listen to Kanye’s album for a month and then move on to the next most anticipated album, Beyoncé’s Lemonade. Nonetheless, as a marketing strategy, it is a good way to get users on the website. Exclusive tracks from popular artists may be Tidal’s best or TIDAL MONTHLY REVENUE
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only hope of attracting users away from its competitors like Spotify or Apple Music, but their staying power is in question. Despite Tidal priding itself on its profitable, high quality sound, a key differentiator against rivals Sound Cloud and Spotify, is it really worth the $20 per month Tidal HiFi subscription? Spotify offers a comparable amount of music at almost half the price. For some consumers, the quality and the artists rewards are not enough. Freshman in Stern, Jay N. Sanghvi, believes that, “Between Spotify and Tidal, I would choose whichever streaming service has a wider availability of tracks and is easier to use, and for me that’s Spotify.” Perhaps, Tidal too, has noticed the price differential. As it stands, it is the fifth largest streaming music service globally with 3 million subscribers according to company announcements. However, it is significantly behind Spotify, who boasts close to 30 million subscribers and even Apple Music (which gained 11 million subscribers in just six months). Tidal recently introduced a $9.99 per month option with only standard sound quality. Moreover, it also announced a student discount for up to 50% off its membership tiers. The shift towards streaming free music was almost inevitable considering the rapid technological advancement. But, there is little consensus to how such a model for expanding music is undermining artist payment. Artists like Taylor Swift are even pulling their music off Spotify, commenting, “I’m not willing to contribute my life’s work to an
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Tidal12 Months After Its Relaunch Worldwide paid subscribers of music streaming services
ARTIST PAYOUT
experiment that I don’t feel fairly compensates the writers, producers, artists, and creators of this music. And I just don’t agree with perpetuating the perception that music has no value and should be free.” This is where Tidal comes in. Emma Crouchen (Steinhardt '19), a music business student, is one of many consumers who believe in Tidal’s mission. “I prefer to use Tidal over SoundCloud because I think it gives back to the artists who need to be rewarded for their creation. Also I love the exclusives on Tidal. I can be the first to hear my favorite artist’s tracks,” said Crouchen. Nonetheless, what Beyoncé described as “for the people by the people” has instead been criticized as a “members-only” club, driving more money into the pockets of multi-millionaire artists, who together are estimated to be worth over $2.7 billion. Additionally, services such as Spotify, SoundCloud, and Pandora have a free tier option, which allows users to explore fresh new tracks while casually browsing. These musicstreaming applications are intended for the discovery of upcoming artists rather than just listening to already established musicians. The question, however, remains: are consumers really concerned with artist compensation? If they’re not, then Tidal’s mission to “save” the music industry seems implausible. With Beyoncé’s new album taking center stage at Tidal, it will be left to the users to decide whether or not Tidal’s “free the artist” brand image is here to stay.
How Tidal calculates royalties for aritsts to provide such a high per-stream payout Per-Stream Payout: Spotify vs. TIDAL
Photos courtesy of Digital Music News
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FINANCIAL MARKETS
FANCY FEET Bhavik Modi Class of 2018
ll Nike is one of the most popular, successful and unique sports brands worldwide, grossing a whopping $30.6 billion in revenue last year. Nike’s footwear sector is a market leader as it holds around 31% of global share, which accounts for 60% of its total profits. To put this volume into perspective, Adidas is second in the footwear sector with a 16% global market share, and in 2014, Nike grossed twice as much revenue from the footwear sector with $16.2 billion and Adidas with $8.1 billion. Sources believe that both their revenues increased in 2015 as well. The question Nike's Air Jordan I's challenged that arises is, the norms for basketball sneakers. how is Nike Image by SM Dipali. so successful with footwear?
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Nike achieves unparalleled success from basketball endorsements
Competitors, such as Adidas and now Under Armour, are always looking for ways to capture market share. One of the major factors that separate Nike from other sports brands are their endorsements. Nike spends large sums of money to attract successful and iconic athletes to make them the face of their brand. Names such as: Cristiano Ronaldo, Kobe Bryant, Maria Sharapova, Roger Federer, Derek Jeter, Tiger Woods and Rory Mcllroy are all part of the Nike family. Although these athletes are the face of the brand in their respective sports, basketball seems to be one of Nike’s major targets. Not only does Nike earn significant amounts of profit from basketball but the company also controls around 90% of the basketball shoe market. How is their success unparalleled? For starters, the company has signed three major NBA superstars, which won them the largest endorsement deals to date. Of the $30.6 billion Nike grossed in revenue last year, just a bit over 10% of revenue comes from these three iconic superstars: Michael Jordan, Kevin Durant and LeBron James. Michael Jordan, one of the best basketball players of all time, has his own brand under Nike, called Air Jordan. Before he was drafted in 1984, Nike signed him to a five-year $2.5 million contract. This contract was seen as a major risk for Nike, as they were taking a huge risk on an unproven marketing commodity. The reason why this deal was so symbolic is that prior to 1984, all NBA sneakers were white, but the Air Jordan I’s were red, white and black. Jordan incurred a $5,000 fine each time he wore the colorful sneakers, but Jordan had nothing to worry about because it was paid for by Nike.
The “Air Jordan” logo started to gain a lot of popularity – soon, everyone wanted to be “like Mike.” Each year, a new Air Jordan sneaker is released, and to this day the shoe continues to dominate sales and account for $2.5 billion of revenue for Nike. Unsurprisingly, Michael Jordan has also reaped considerable benefits from this deal. In 2014, according to Dime Magazine, “Michael Jordan made more money selling sneakers ($100 million), than he did during his 15-season career ($94 million). These earnings made Jordan the highest-paid retired athlete in the world.” According to Forbes, Michael Jordan is worth $1 billion, and, undoubtedly, much of that money comes from Nike’s sponsorship and sneaker deal. Despite Nike’s success with Jordan, the company was at risk of losing basketball player Kevin Durant to Under Armour in 2014, until Nike offered Durant a 10 year, $285 million contract, the biggest endorsement deal in sports history since Michael Jordan. Just over a year later, Nike once again outdid itself. The company signed LeBron James to a lifetime deal, making this deal the biggest single endorsement deal in sports history to date. It is also extremely interesting to note that in Nike’s 44-year company history, this is their first lifetime client. For Nike, the relationship looks fruitful: in 2015, the LeBron sneakers brought in around $345 million revenue. When compared to Air Jordan’s, revenue from the LeBron sneakers seems small, but this number is projected to increase in the following years. For LeBron this means over $500 million over the next decade and a half. With these numbers, LeBron James may join Michael Jordan in the “Three Commas Club,” referring to individuals worth at least $1 billion. Nike is clearly the market leader in sporting goods, but competitors such as Adidas and now Under Armour are not far behind in endorsement deals. In fact, rising basketball star, Stephen Curry, turned down a $2.5 million deal with Nike in favor of an endorsement from Under Armour. His sneakers, “Curry One”, are now one of the most popular and best-selling sneakers on the Under Armour website. Under Armour certainly seems to be ready to play ball with Nike, but for Nike, how much will this lost opportunity cost?
Super Bowl ads proved to be tamer in this year's broadcast Bhavik Modi Class of 2018
ll The first Super Bowl, played in January 1967, saw the Green Bay Packers defeat the Kansas City Chiefs at the famed LA Coliseum. A 30-second TV ad then cost just over $40 thousand, which amounts to roughly $280 thousand in current dollars when adjusting for inflation. Flash forward to this year’s Super Bowl where the Denver Broncos defeated the Carolina Panthers at Levi’s Stadium in Santa Clara, CA. Numerous reports had CBS charging $5 million for 30 seconds – and some would argue it was a bargain. Seth Winter, the executive Vice President of Sales and Marketing for NBC Sports Group and NBCUniversal News Group once said, “We think the Super Bowl is worth closer to $10 million in incremental exposure for marketers." This also extends to postSuper Bowl ad replays, positive brand image associated with Super
Bowl advertisers, and the increasing number of Super Bowl ads released prior to the big game. The Super Bowl is one of the few remaining “must-watch television” events. Gone are the times when viewers would crowd around TV sets or the wider public would simultaneously watch sitcoms like “Friends” or “Happy Days” en masse. With today’s increased programming competition, digital recording, computer streaming, and flexible viewing services like Netflix and HBOGo, it is harder than ever for advertisers to reach a mass audience the way the Super Bowl can. Paying millions for a Super Bowl ad, however, does not guarantee an advertiser success. Case in point: Nationwide Insurance’s socalled “Dead Children” ad from Super Bowl 2015, in which a small boy speaks about what he was not able to experience due to a childhood death by car accident. Public backlash to the ad reportedly proved so disastrous that
Matt Jauchius, Nationwide’s chief marketing officer, resigned and the company passed on advertising in this year’s Super Bowl. There also was industry speculation that the fallout Nationwide experienced prompted Super Bowl advertisers this year to be more conservative with their creative approaches. Certain ads nevertheless resonated quite well with audiences. Among them is the Hyundai commercial featuring Kevin Hart as an overprotective dad and the NFL’s own “Super Bowl Babies” ad. PayPal’s “There’s a New Money in Town” commercial also proved especially interesting to many viewers as it took aim at traditional “old money” financial institutions. Even PayPal’s clever commercial, perhaps, would have been more provocative and risky a few years ago. Given the size of the Super Bowl platform and Nationwide’s debacle in 2015, many advertisers have learned and went with the “better to be safe than sorry” approach, as showcased with this year's Super Bowl ads.
Photos courtesy of Google Images Hyundai's spot, in which Kevin Hart plays an overly protective dad who sneaks out on his daughter's date, advertises the Hyundai Genesis' car tracking feature.
The NFL's 2016 Super Bowl ad, which features actual Super Bowl babies, opens stating that winning cities see a rise in births nine months after a Super Bowl victory.
The Paypal 2016 Super Bowl commercial is meant to promote the company’s vision of the “future of money, while taking aim at traditional financial systems.”
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$REVOLUTIONIZED MONEY How technology has
Photos courtesy of Getty Images
Coin: Lightening your wallet with just one card
Simran Shah Class of 2019
ll Technological change in this generation has begun to touch the world of financial transactions. There has been an increasing trend towards innovative methods of payment, which has opened opportunities for start-ups. New payment techniques have emerged from tech startups like Coin and Plastc. Both companies have revolutionized the industry with the introduction of a single card that holds all your other ones. The simple design and ease of use offer a groundbreaking solution to the problem of numerous cards. According to the founder of Coin, Kanishk Parashar, customers pre-ordered approximately 350 thousand units of Coin in less than two months and the company is currently facing a backlog, with 100 thousand Coin cards yet-to-be shipped. This number is almost triple the number of iPods sold in the period. Marcus Wohlsen wrote in his article for Wired that each customer chipped in to a crowd-funded venture at the early adopter half-price rate of $50, allowing the company to meet its pre-order goal of $50 thousand within 40 minutes of its launch video hitting the internet. The Coin card itself has one button and a small screen to display the card type, the last four digits of the card number and the expiration date. This simple interface makes the card easy to navigate and use. Allowing you to upload eight cards at a time, the Coin can keep track of everything from credit cards to Starbucks gift cards and even your NYU ID. Unfortunately, it is not yet compatible with Metro Cards. Long(ish)-lasting, the Coin card has a projected two-year battery life. Still, some critics are skeptical of its value. According to Jason Cipriani, a journalist for Fortune, “Paying with Coin is similar to using a standard credit or debit card, save for the typical twominute conversation with the clerk about the confused payment
system.” He also doesn’t see the point in having a card that you need to replace in 2 years. The use of a phone is not necessary to use this sleek device as it works independently through a passcode when you press the button on the card itself. However, if your phone battery is dead, you cannot use your coin card. The card works based on distance recognition and your phone will notify you to get your Coin card when you move a certain distance away from it. This warning prevents cards from being lost or stolen almost immediately since the Coin app tracks the physical card. Zander Futernick (Stern '19) has his own insight regarding Coin. He agrees that the idea is “fantastic” but thinks the execution is not as he had hoped. He sometimes has trouble explaining how to use it and other times it just does not swipe at all. Nonetheless, he approves of Coin as a “temporary sector in between the time of traditional credit cards and e-payment options, like Apple Pay.” Until this transition is complete, products like Coin present a transient solution. As noted, there are a lot of complications with the functioning of the Coin product. According to Casey Newton, a journalist at The Verge, the company stated that Coin worked in 85% of US locations in 2014. The following year, it released the identical news, making the company
seem unreliable and suspect. Overall, Coin caters to a niche market of luxurious spenders who would pay to get rid of their multiple cards. Yann Ranchere, a director at Anthemis Group a Geneva-based financial services consultancy firm said, “Coin is so similar to what has come before, it’s unlikely to make a dent in the market.” However, it is a creative idea that can be successful in a market that accepted it more widely. Once it becomes more common, it may be possible to use coin even in B2B transactions. This change will take time to be acknowledged and integrated into our social habits. Once accepted, it can be successful.
Bitcoin: A financial system for the internet era Shail Shah
Class of 2018
A software developer called Satoshi Nakamoto is ll credited as the founder of the Bitcoin digital asset and payment system. Curiously, no one seems to have met him – leading to speculation that Satoshi Nakamoto may perhaps be an alias for one or several people. [At press time, Australian Craig Wright was revealed as Bitcoin creator Satoshi Nakamoto.] Regardless of this intrigue, Bitcoin has seized the opportunity to redefine and reimagine how a financial system can and should work in the Internet era. Bitcoin offers a peer-to-peer system where users can “transact” without any intermediaries. Once a transaction is requested, it is verified by network nodes and recorded in a public ledger known as The Block Chain. The conversion value of bitcoins depends completely on market forces (supply and demand), security (coding), and confidence (from consumers) with no government regulation. The US Treasury categorizes bitcoins as decentralized virtual currency. Bitcoin has also spawned a new term: “cryptocurrency.” Without a Central Bank issuing bitcoins, there are three principal ways to acquire them. One method is on an exchange, where buyers and sellers trade similar to a stock market. Bitcoins are also accepted online as payment for goods and services. Lastly, and most remarkably, this virtual currency can be created with a computer and a keyboard.
A key advantage to the Bitcoin system are its cheaper fees, lower than the typical 2-3% merchants pay for credit card transactions. It has proven to be a powerful force, attracting large numbers of people from all around the world into a modern, well-integrated economics system. That said, a key disadvantage that’s putting pressure on Bitcoin’s survival is the reported use of its currency by terrorists and drug dealers. As money.com put it, bitcoins are “the currency of choice for people online buying drugs or other illicit activities.” Many speculate that there is a finite number of Bitcoins – 21 million -- that will ever be in circulation. Currently, more than 12 million reportedly are in reserve, meaning that nearly 9 million are in play, waiting to be coded out. International remittance, money sent as a gift overseas, is one obviously huge market for Bitcoin growth. According to the World Bank, about $400 billion annually is sent home by low-income employees working abroad. Banks and other service providers take up to 10% fees to transfer funds, far more costly than using bitcoins. Furthermore, as Marc Andreessen has written in The New York Times, only 20 countries have “what we would consider to be fully modern banking and payment systems; the other roughly 175 have a long way to go.” At its best, Bitcoin virtual currency has the ability to act as a catalyst in the modern era in spreading the benefits to a contemporary economic system.
by the numbers
$452 /1 bitcoin £315 /1 bitcoin €400 /1 bitcoin ¥2926 /1 bitcoin
Conversion rates as of 5/2/2016
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The Price of Campaign Promises
Photos courtesy of NBC News.
Anand Balaji Class of 2019
ll An important part of any campaign season are the grand proposals that candidates make to gain public support. The 2016 Presidential race is no exception. Single-payer healthcare, free college education, a Mexican-American border wall, and the mass deportation of illegal immigrants have all been proudly touted as ways to fix America. Skeptics question whether these measures are realistic or could actually pass a heavily partisan Congress. But an even more important consideration is how much these proposals would cost the American taxpayer. Candidates Donald Trump, Senator Ted Cruz, and Senator Bernie Sanders have arguably gone furthest with sweeping big-budget ideas and have explained how they’d be funded on their websites. A closer examination of the money required to bankroll these ambitious plans, however, shows that the candidates’ estimates could be far off the mark. Every American voter should understand not just what these proposals would do, but also how significantly they would affect their tax rate and the national budget.
Single-Payer Health Care In the battle for the Democratic nomination, a defining area of contention between Senator Bernie Sanders and Secretary Hillary Clinton is how each would tackle the issue of health care. While Clinton’s proposals revolve around increased Medicaid funding and lowering
drug costs, Sanders is pushing for radical reform: single-payer health insurance. Dubbed by Sanders as “Medicare for all,” the singlepayer system would replace private insurance agencies with a national body that administers health insurance. The promised advantages would be the complete elimination of all the traditional fees associated with health coverage (deductibles, premiums, co-pays) and also successfully insuring all Americans from birth. The Sanders website estimates the cost of this program to be $1.38 trillion per year and outlines an expansive payment plan including a 6.2% payroll tax, 2.2% household income premium, increased progressive income taxes, and a capital gains tax. The important question to ask then is: Despite the significantly higher taxation, do the costs saved by a national insurance body actually save money for Americans? For the upper tier the answer is likely no. With a 43% marginal rate on income above $500,000, it’s unlikely that the removal of monthly premiums would make single-payer worthwhile for the upper class. For the middle class the answer is muddled, largely depending on the current insurance rates a family is paying and whether Sanders would have to raise taxes even higher to properly fund the system. Critics point out that, with the elimination of co-pays, the number of hospital visits could drastically increase and lead to higher medical costs for the government. In addition, the Sanders plan requires a federal overhaul of medical insurance, meaning the federal government would have to cover state
costs. All that would seem to make his $1.38 trillion cost estimate too low.
Border Wall and Mass Deportation On the opposite side of the political spectrum, the two leading Republican candidates have proposed radical plans to solve the nation’s immigration crisis. Trump supports building a wall across the Mexican border that he estimates would cost $8 billion. Trump’s demand that Mexico pay for the wall has been ridiculed by the Mexican government, and his fiercely anti-taxation stance doesn’t provide an alternative way to pay for the project. Trump’s website outlines a series of punitive measures to take against the Mexican government until they comply, including increased visa fees, limits on NAFTA workers, and higher tariffs. These actions, however, are unlikely to do much to sway Mexican authorities, and this border wall would therefore require substantial government expenditure. Experts estimate that a properly constructed wall would cost “tens of billions” not including the increased need for border patrol agents and drone surveillance to enforce security. Both Trump and Cruz have both promised to reverse President Obama’s amnesty initiative and to immediately deport all illegal immigrants residing in the United States. How they plan to deport these immigrants so rapidly while still recognizing their right to due process is unclear. However, both candidates have pledged to triple the number of Immigrations and Customs Enforcement (ICE) officials to enforce their plans.
On his website, Cruz makes absolutely no attempt to clarify the funding for the deportation of the more than 11 million immigrants living in the U.S. Trump claims that ending IRS tax benefits to illegal immigrants would completely fund his plan; experts strongly disagree. Using a cost of $12,500 per deported immigrant, a number estimated by Daniel Ragsdale, the deputy director of ICE, the total deportation of all illegal aliens would range from anywhere to $100 billion to $200 billion.
Free College Education
Another significant policy plan that strongly separates Sanders from Clinton is his call for free tuition at public colleges and universities. His proposal to achieve this requires $2 in matching federal funds for every $1 that states would pay. Sanders also wants to cut student loan interest rates from 4-5% to 2% and allow refinancing on current student debt to secure a lower rate. This policy could have profoundly positive effects on the welfare of American society, and Sanders promises that this specific proposal will not require increased taxation on the public. His exact proposal is to levy a .5% fee on stock trades, .1% on bonds, and .005% at derivatives, which together he predicts would be sufficient to pay the projected $75 billion annual cost. However, a report by the Tax Policy Center actually increased those fees and still found that the Sanders plan falls about $20 billion short of the required revenue.
Conservative Diversity at CPAC Rachel Levine Ramirez Class of 2016
ll CPAC, the Conservative Political Action Conference, this March attracted over 10,000 conservative activists to the tourist town of National Harbor, Md., just outside Washington. As usual, conference attendees included many of conservatism’s best and brightest: students who head College Republican groups on campus, representatives from non-profits promoting constitutional liberties, leaders of notable think tanks, and writers from highly-esteemed publications (depending, of course, on whom you ask). The official theme of this year’s CPAC was “Our Time Is Now,” stemming from Ronald Reagan’s 1981 address to the conference where he said: “Fellow citizens, fellow conservatives, our time is now. Our moment has arrived. We stand together shoulder to shoulder in the thickest of the fight.” This year, sentiment on the ground ranged from “our time is now…to stop Trump” to “our time is now…to make America great again” – and even, “our time is now…to get past the security barricades set up by Ben Carson’s Secret Service detail.” CPAC exposes students and others to the tools
they need to be stronger activists, but the direction that activism takes is by no means uniform. Teens and young adults with Rubio campaign stickers rolled their eyes at the groups of older women wearing Cruz pins. The National Review booth was frequently greeted with Trump supporters, espousing maxims such as, “Make America Great Again” and “Mitt Romney is a loser.” Comically, and to make a point, National Review printed a Donald Trump cut-out. Trump supporters obviously weren’t fans of the T-shirt attached to the cutout, sporting the cover of National Review’s “Against Trump” issue. Trump, slated to speak at CPAC on the morning of the final day of the conference, bowed out at the last minute, citing the need to campaign in other states. When this news began to murmur through the crowd, young activists quickly pulled out their
phones and navigated to Politico for confirmation. Apparently, some groups at CPAC were organizing a walkout during Trump’s speech and Q&A. Speculation ensued about whether Trump was nervous that a walkout could hurt him in the primaries. Some contended that Trump’s absence confirmed that he was afraid to be judged by over 10,000 conservative activists because, in fact, he did not promote conservative ideals. Even though most attendees identified as Republican, disagreements were rampant on the direction of the party, the state of the economy, and who is best able to solve America’s problems. Many things can accurately be said about conservatives but, as CPAC confirms, conformity is not one of them. For most attendees, the diversity of conservatism is a badge of honor – along similar
CPAC exposes students and others to the tools they need to be stronger activitists, but the direction that activism takes is by no means uniform.
lines to how William F. Buckley Jr., the founder of National Review, described the publication’s mission statement in its first issue: “The largest cultural menace in America is the conformity of the intellectual cliques which, in education as well as the arts, are out to impose upon the nation their modish fads and fallacies, and have nearly succeeded in doing so. In this cultural issue, we are, without reservations, on the side of excellence (rather than "newness") and of honest intellectual combat (rather than conformity).” The diverse attendees at CPAC included an African-American veteran carrying a sign with the words “Veterans Against Trump,” the most well-spoken ten-year-old I’ve ever met, young women of the Daughters of the American Revolution, students from Princeton, Harvard, Liberty University, and even a few students from NYU. CPAC this year represented differences in opinions (based on facts, for the most part) about the future of the Republican Party in the face of the 2016 election. For the sake of the future of our country, let’s hope CPAC attendees continue this trend of honest intellectual combat, even if the new ideas they hear do not come from their own party.
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What is defensive architecture? Sal Bhakuni Class of 2017
ll Architecture reveals a lot about a society: its aesthetics, its values and how it interacts with the environment. While reflecting a society, architecture can be beautiful and accessible. It also has the power to be exclusionary and harmful. Defensive architecture has proven to be ubiquitous and problematic. Seemingly a method to preserve the architectural integrity of certain buildings and spaces, this harmful practice targets society’s working poor and homeless in particular. Spikes on staircases, corners, or ledges prevent people from sitting or taking a rest. Bench dividers keep people from sleeping on them. Pavement sprinklers soak people (and their belongings) when sitting or lying close to a building’s ground floor. Vertical cement posts prohibit people from taking shelter and forming camps under overpasses. Professor Ocean Howell, who teaches architectural history at the University of Oregon, said, “When you’re designed against you know it. Other people might not see it, but you will. The message is clear: you are not a member of the public, at least not of the public that is welcome here.” Defensive architecture allows the
“legitimate” users to enjoy these public spaces and to easily remain ignorant of the true reasons for these designs. To most of the public, these stainless steel pieces are edgy and aesthetically pleasing in our “age of austerity.” They provide “cool” backdrops for Instagram photos, and they don’t really require thought about why they are even there in the first place. Defensive architecture is supposed to look pretty; it’s supposed to have sharp clean lines; and it’s supposed to look artsy. The fact of the matter is, these alterations to public spaces and increasingly institutionalized pieces of street furniture are designed for deception. Often approved and funded by local governments, they are made to exclude the unwanted. And certain measures, like spikes on ledges, would also seem to exclude those who likely would be perceived as acceptable: the elderly, disabled or pregnant simply looking for a place to take a quick break. Defensive architecture provides a cheap alternative solution to the very real problems of homelessness and poverty in society. There’s no need to confront our own subliminal biases and our role within problematic frameworks, which could lead to uncomfortable conversations. By calling the homeless “dirty” and “unclean”, we ignore the inaccessibility of public showers and toilets. By complaining about their public presence, we overlook the fact that adequate homeless
shelters are far and few in between. Perhaps, instead of putting spikes on ledges and slanting benches, it would be better to try and implement institutional change to provide agency and resources to the homeless, so that they wouldn’t need to sleep on benches in the first place. Sadly, defensive architecture is a necessary evil in a consumerist economy like ours. It’s hard for us to buy clothes, food, or toys when there’s a homeless man sitting right outside the store window. It’s hard for us to get work done when we see a homeless woman sleeping on a ledge right behind Bobst. It’s hard for us to read books right outside of Strand when the homeless are begging us for spare change or food. When the effects of a society’s economic infrastructures lead to poverty, it is easier for people to consume when we do not have to see others living in a destitute state. And when we don’t have to see these harmful effects, we don’t have to feel guilty about the classist structures that perhaps we are all complicit in.
Image by SM Dipali
COMICS BY MICHAEL CATENACCI
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EDUCATION THE ENGINE FOR SOCIAL MOBILITY IN THE UK Sanchit Kumar Class of 2018
ll During Britain’s industrialization era and the decline of its empire in the 18th century, it increasingly began to value meritocracy. But recent trends raise the question: will social immobility haunt the British again? That remains uncertain as the current British education system has created a disparity between publicly and privately educated individuals. The Economist graph (lower right) indicates that in some professions, such as journalists, editors, and doctors, there are an increased proportion of privately educated individuals. In fact, Debrett, an organization that has recognized Britain’s 500 most influential people in the last two and a half centuries, found that over 40 percent of these influential people also originate from the top 7 percent of the country’s population that attended private schools. Holly Henderson, a student at the University of the Arts London, describes private education in the United Kingdom as, “a small, privileged bubble that lacks diversity.” Having experienced both the public and private education system during her formative years in school, she admittedly explains the advantages of private education over public education. “I was given many more opportunities [than in public school] such as extra-curricular activities, reduced class sizes, and extra freedom over [my] curriculum.” State-funded schools, on the other hand, cannot afford these luxuries due to their limited budgets. Additionally, private schools are likely to have a greater quality of teaching that result in higher performance levels. Over 30 percent of private school students attain at least three A-grade scores on their A-levels, the British national standardized test,
I was given many more opportunities [than in public school] such as extracurricular activities, reduced class sizes, and extra freedom over [my] curriculum. compared to 7.5 percent of public students, conveying the need to reexamine the public education system that schools over 90 percent of the British youth. Unfortunately, prospects for change appear dim. According to the Institute for Fiscal Studies, a reputable think tank in the UK, the nation’s budget for education will likely decrease by 12 percent in real terms for the next five years. This blow to public schools is likely to contribute to long-term economic consequences. According to The Telegraph, half of British small-to-medium-sized enterprises (SMEs) have complained that Britain is suffering from a skills shortage, stating that young graduates are bereft of basic literacy and numeracy. As a result, these firms insource skilled and more experienced labor from foreign countries, which will continue to break down the ladder to social mobility for the British working class. So what can be done to rebuild this ladder? “Learn from British history,” is a solution suggested by many, like former Prime Minister John Major. For 33 consecutive years beginning in 1964, every British prime minister attended state-funded public schools. During this period, free academically selective schools, known as grammar schools, fuelled social mobility. However, Britain’s deindustrialization period in the 1980’s, and the subsequent elimination of grammar schools in the late 1990’s, affected public scholarship and reduced the meritocratic education system. Although some may argue that the majority of the British public who do not attend these selective grammar schools will still be sidelined by the system, grammar schools embody meritocracy and articulate that an elitist background is not necessary to succeed in British society. The British government must recognize education as a primary factor for social mobility. Ultimately, change will only materialize through collective political will.
Photos Courtesy of Getty Images The stark contrast between Britain's private schools (pictured first) and it's state funded schools (pictured second) has led to less social mobility within the country. Still, the Institute for Fiscal Studies, a reputable think tank in the UK, suspects the nation's budget for education will decrease by 12% in real terms for the next five years.
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NATIONAL FEATURES
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Photos Courtesy of Getty Images Photos Courtesy of Getty Images In response to Victoria Secret's "Perfect Body" campaign, which displayed tall, thin models, Dear Kate released its own campaign titled, "The Perfect Body," shown above. The company hoped to promote a healthier body image for women everywhere.
Marisa Zaldivar Class of 2019
STARVING for a Positive Body Image
ll Experts have long been warning about mass media’s pervasive impact on a young person’s body image. For the latest generation raised on computers and smartphones, as well as TV and magazines, the outcry has heightened. Today, studies show that young people in the U.S., ages 8-18, engage with media about 7.5 hours daily - and, with it, face increasing toxic exposure to unrealistic and dangerous expectations of beauty. As of 2011, over 30 million Americans of all genders, ages, and ethnicities were said to be suffering from an eating disorder, which carries the highest mortality rate of any mental illness. ANAD, the National Association of Anorexia Nervosa and Associated Diseases, found that “47% of girls in 5th-12th grade reported wanting to lose weight because of magazine pictures” and “69% of girls in 5th-12th grade reported that magazine pictures influenced their idea of a perfect body shape.” The Association for Consumer Research has also conducted extensive studies to better understand the correlation between marketing and
health implications, noting the disparity between businesses that market perfection and those that promote positive body images. Some brands such as Dove, Lane Bryant, and Aerie have had advertising campaigns that encourage people to embrace their body type and individual beauty. A particular brand’s approach, however, may contrast with other campaigns within a parent company’s portfolio of products. Forbes magazine noted, for example that Unilever was marketing “better beauty” for Dove while doing essentially the opposite with its models promoting Axe deodorant. An ad from Victoria’s secret - captioned “The Perfect Body” and showing 10 young women in bras and underwear - not surprisingly gained widespread attention. Less prominent was the campaign from the Dear Kate underwear firm, which played off the same caption with 10 “average” women. Dear Kate also included a statement with its ad: “Through this photo, we showcase women who are often neglected by the media and traditional retailers. We show the multitude of shapes perfect bodies can take.” The glut of images seen every day through mass media can creep into young minds both consciously and subconsciously. Too often, companies are feeding upon customers who are starving for acceptance, starving to be perfect, and starving for a mythic body image.
69 % of girls in 5th-12th grade reported that magazine pictures influenced their idea of a perfect body shape
Indian Wives: Victims in Their Own Homes Simone Tandon Class of 2019
ll Neha, a 29-year-old mother of two children, was brutally burned in India. Her in-laws believed she deserved to be set on fire for not satisfying their demand for more dowry. Neha’s case was reported; many aren’t. The term dowry refers to cash, goods or assets (e.g. property, jewelry, shares) etc.), which a bride’s family pays the groom’s family to secure her “well-being” in a marriage. It’s the price for a good match in the marriage market. While a dowry once was essentially a separate savings fund for the bride, today it is considered compensation for the groom. Since a wife is typically financially dependent on her husband after marriage, she’s considered an economic burden on his family. With patriarchy and domestic violence so deeply embedded in Indian society, neither the government nor the community have done enough to address the murder and abuse of women, They’ve also largely failed to confront the root causes of these tragedies. According to World Socialist, beatings -- and in some cases murders -- of women over dowries are both common and commonly ignored. The violence is sometimes “tacitly condoned in official circles - by the police, the courts, politicians, and media.” Legislation related to dowry, such as the Dowry Prohibition Act of 1961, may be on the books. But, within a system rife with corruption, the law hasn’t been able to effectively deal with the issue. The most serious cases of dowry violence include bride burning, murder, harassment and abuse of Indian wives. In 2011 alone, 8000 dowry harassment deaths were reported. A study in the Journal of Bisocial
Science asked women about the “most severe form of gender disparities in marriage”, and 84.1 percent of the respondents said “dowry demands”. Traditional Indian culture believes that husbands are entitled to greater power than their wives. Inheritance laws, for example, prohibit the transfer of assets and material property to women. The extent that the contemporary dowry system is an institution unto itself or a reflection of overall gender disparities is a long-standing question. However, recent political discourse in India has increasingly linked dowry to larger social issues such as violence against women, female feticide, and sexselective abortion. Arranged marriages are the norm in India and usually hinge on the amount of dowry a bride’s family is willing to offer. Indian wives often find themselves continually coerced into succumbing to the demands of their in-laws. This leads to what’s known as “dowry deaths” (shown in the graph to the right). Dowry deaths are women who are killed or driven to suicide by their husband or husband’s family when they are unable to meet the ongoing demands. The wife’s own family also frequently contributes to the prevalence of this violence. Many cases go unreported for fear of bringing shame. Cultural notions of upholding the family honor also means that people raise eyebrows when a married woman returns to her parent’s home. Without their families as support systems, it proves difficult for wives to escape their abusers. Now, even with the technological addition of matrimonial websites, marriage brokers and service providers are still perpetuating the tradition of dowry. On March 23 this year, the Indian high court cited several
websites for illegally advertising dowry demands. As a result, the world’s largest matrimonial service shaadi.com has taken several initiatives to raise awareness against dowry. The practice of dowry is indeed a deeply rooted cultural phenomenon. Nevertheless, there is increasing awareness of its inherent dangers. Should the dowry system one day be eliminated, that also could prompt sweeping changes elsewhere within India’s patriarchal society.
All-India Reported Dowry Deaths Total: 46,606
7,957
8,036
2007
2008
8,239
8,242
2009
2010
7,467
6,665
2005
2006
Source: Lok Sahba
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STUDENT LIFE
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'MR. AND MRS. STERN' CANCELLED: Continued from page 01
Because the Task Force was not formally announced until after the discussions over Mr. and Mrs. Stern unfolded, they were not consulted on the matter. However, the need for such an organization was highlighted in the issues that cropped up when students discussed rebranding the event. The competition, which was held in the spring semester for the last 13 years, historically included four parts: a talent portion, a costume contest, best pick-up line, and best date. Every year, a male student won Mr. Stern and a female student won Mrs. Stern. In searching for alternative structuring and names for the event, Student Council members, Bachani and Fahad Jamal, looked to their collective experience sitting on the NYU Student Senate and working with student leaders across all NYU schools. “We wanted to learn from other councils and we noted that CAS hosts a similar pageant-style competition, but instead calls it ‘CAS Royals.’ While the context is still a pageant and it is still competitive, it is less gendered,” said Bachani. From this example sprung the idea of rebranding the “Mr. and Mrs. Stern” event as “Stern Royals,” and restructuring it accordingly. However, the coalition of students who opposed the original event found the proposed rebranding equally inadequate. “Royalty implies that there will be a queen or king, which raises the same issues of gender binaries. Secondly, there is already a sense of royalty at Stern – with people in fraternities, clubs, and those who hang out in the 3rd floor lounge. This is fine and it happens naturally, but calling the event ‘Stern Royals’ actively promotes and reinforces this idea. The way these two aspects interplay made the idea of ‘Stern Royals’ exclusionary,” said Pence. Some members of Student Council have latched onto Pence’s second claim regarding the existing sense of “royalty” at Stern. “I understand the concern, but that isn’t something we can control or change with an event like this. I think we run these pageant competitions fairly, because all candidates are nominated. The candidates who are chosen to participate are simply those that receive the most nominations. Of course we often see that student leaders get nominated most frequently, probably because they are well known on campus. That’s not something we can control. But at the end of the day, anyone can be nominated, not just student leaders,” said Jamal.
In the end, the group involved in discussing the issue agreed that cancelling the event this year was the soundest course of action given time constraints. However, in thinking about the future of the event, Student Council is now planning on restructuring the event to be superlative-based. Candidates would still be nominated, and the competition would include categories such as most charming, most professional, and most Stern pride. "Both sides of the discussion showed professionalism and mindfulness in finding a way forward. It really gave us the opportunity to reassess traditions and be more observant. And that's really what being an ally is – actively reassessing traditions," said Ashish Bhatia, Dean of Student Life at the Undergraduate College, referencing the now commonly-used term “ally.” Known to many students through the NYU and Stern “Ally Week,” allyship is the “active and consistent practice of unlearning and re-evaluating beliefs and actions, in which a person seeks to work in solidarity with a marginalized individual or group of people.” Allies are challenged to actively reassess norms and traditions, and ask questions when they are unsure of how to act or what to say in certain situations. Many students who identify as an ally believe that cancelling the event was indeed the best approach to ensure inclusivity. “I identify as a heterosexual, cisgender woman and while I will never be able to understand [the LGBTQ] experience, and would never want to speak for them, I couldn't support something that actively hurt others in our Stern community -- because that's not something I could ever stand behind, as a student leader or ally,” said Priya Kamdar, a senior in Stern who was a part the coalition of students who first approached Student Council and the Dean’s Office about the event. Others, saw the cancellation as misguided and unnecessary. “I'm huge supporter of diversity and inclusion, but I think attacking fun events that aren't meant to discriminate doesn't help push forward the cause,” said a junior in Stern, who preferred to remain anonymous on the issue. Ultimately, the controversy brought about important questions of inclusivity and political correctness within the Stern community. But as the national spotlight on diversity and inclusion brightens and students become emboldened to speak out, it is clear that the Stern
community must actively address these questions. Moving forward, Student Council and the Office of Student Engagement hope to collaborate with different student groups in Stern to ensure more inclusive programming.
Mr. and Mrs. Stern, the annual pageant hosted by the Stern Student Council, has been held for the last 13 years. This year, the event was cancelled amid complaints from four Stern seniors regarding its exclusivity. The students believe the program is queerphobic, homophobic, and sexist.
MEDITATION & ME Andy Fang
Class of 2017
ll Meditation is making a big comeback among modern city dwellers who see benefits distinct from spirituality. Today’s new high-profile advocates are neither hippies nor monks. They range from lifestyle personality Oprah Winfrey to hedge fund manager Ray Dalio, who praise meditation as transformative for their mental health, allowing them to focus better and to access a deep state of inner peace. As a stressed-out Stern junior with two jobs and a full course load, these benefits seemed exactly what I needed to bring some order to my increasingly hectic life. I had always admired meditation as a signifier of mental fortitude but never saw myself partaking. It often requires sitting still for at least 20 minutes and emptying the mind of thoughts and distractions (though there are different variations). Immersed in today’s digital and social media age, I have trouble sitting still for even five minutes before needing to distract myself by scrolling through Instagram or checking for nonexistent text messages. I chose to start with focused attention meditation, which stems from a form of Buddhist meditation called Samatha. This type of meditation revolves around focusing on a single subject during the meditation session, be it breathing in patterns, counting, or even chanting mantras. Choosing a mantra was out; it seemed a little pretentious and disingenuous for me. The mantras I found on Google derived from sacred and ancient Sanskrit phrases, which immediately conflicted with my pronounced lack of spirituality. I decided instead that I would simply count to 10 and back down again, over and over, until the 20 minutes were up. I assumed that this would be a remarkably easy way to increase my ability to focus. Literally all I had to do was sit cross-legged with my hands on my knees and count. I’m ashamed to say that my first attempt at meditating was an abject failure. By the time five minutes had passed, I had almost cracked multiple times – wanting to check my phone and see how much time had elapsed. By the 10-minute mark, I was itchy both physically and mentally. Worldly thoughts
ranging from dinner plans to homework drifted through my mind distracting me. I desperately wanted to stretch my legs and scratch my face. By the 15-minute mark, I heard my roommates laughing and enjoying themselves outside my room, and my resolve broke. This first attempt helped me realize how accustomed I was to constantly succumbing to distraction. Determined to gain the ability to focus deeply and intensely, I set a strict routine to meditate twice a day. The first few days were rough. I did get better at tuning thoughts out and at redirecting myself to counting when I was getting distracted. However, I still couldn’t tune out the sounds of my three roommates. I’m not sure if this is considered cheating (I reiterate that I’m a beginner and no meditation guru) but I resorted to using my noise-cancelling headphones and sitting in my closet for the rest of the week. By then, I was halfway through my first benchmark week and actually realizing improvements in sustaining my focus. I’ll also admit that the sensory deprivation within my dark and quiet closet proved a little too relaxing at times and, more than once, I found myself waking up with my head against the laundry hamper. Nevertheless, towards the end of the week, I actually felt a tangible difference. I could go longer periods of time without checking my phone. I was sleeping better and feeling more alert. Some who meditate claim that it even helps them have clearer skin; unfortunately, I haven’t seen that yet. I now hope to expand my meditation routine beyond my closet to access my inner zen anytime, anywhere -- and just in time for finals.
"Nevertheless, towards the end of the week, I actually felt a tangible difference. I could go longer periods of time without checking my phone. I was sleeping better and feeling more alert."
STUDENT LIFE
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NAVIGATING TWO-CREDIT CLASSES THIS FALL
Devyani Nijhawan Class of 2018
ll It’s almost time for registration! You are staring intently at the computer screen, mentally pleading with Albert to stay clear of any yellow triangles or blue squares. But after Albert behaves, there is a sudden, sinking feeling in your stomach. All these classes seem so “Stern” (pun very intended). How can you diversify this portfolio? If you’ve ever been caught in such a situation, The Gould Standard is here to save the day, with its compilation of some of the most interesting two-credit electives you can take this Fall! Interviewing Strategies (Steinhardt) Worried about landing that coveted IB internship? If so, Interviewing Strategies is just the class you need! In fact, rising junior Sindhu Immidisetty raves that she even “got personalised advice on resume and interviewing techniques.” So if OCR has you stressing, sign up fast -- you’re definitely not alone. Steps Rhythm Movement (Tisch) So you think you can dance? Tisch’s Open Arts Curriculum offers a variety of dance forms, such as African, Modern, Indian, Ballet, Hip Hop, and Flamenco. Whether you are looking to show off those moves at LAVO or win the next StuCo Talent Show, these classes offer a great way to shed those extra calories while earning credit for them. Music Instrumental (Steinhardt) – Piano, Voice, String Instruments Looking for a creative outlet? Or perhaps to form your own band? Well look no further, because Steinhardt offers
a plethora of courses for non-majors interested in learning music. Tailored to each student’s unique needs, and taught in a relaxed, laid-back environment, these classes are the HailMary your GPA and inner-Lady Gaga have been waiting for. Music Business (Steinhardt) Interested in the inner workings of the music industry? Falak Gupta, a rising junior majoring in Finance and Information Systems, took Business Structure of the Music Industry and raved about “the section on concert management and the economics of touring.” She found that the best part of the course was hearing “about all the individuals who take a piece of the pie before the artist: be it the venue, booking agent, or tour managers.” If you want to make sense of the process that makes artists like Justin Timberlake, Adele, and Taylor Swift so successful, this twocredit class is the right pick for you. Studio Art (Steinhardt) Find yourself at the Met every weekend? Love staring at Vermeers all day? Then choose ‘Color I’ or ‘Fundamentals I’ to assuage your inner artist (trust us, it’s going to require A LOT more than those colorful models in Excel) The Art of Travel (Gallatin) This is the only two-credit class for those of you studying abroad*, but it’s one of the greats! An online class that requires weekly blog posts and photo updates, this class is the perfect way to document your amazing adventures. Plus, with readings tailored to the art of exploring fearlessly, this class is the perfect complement to any study abroad experience. Plus, as BPE Alumnus Emily Teleposky attests, being forced to document your travels (or life) is one of the best decisions you can make for your soul. *excludes London, Madrid and Accra
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Interviewing Strategies (Steinhardt) Step Rhythm Movement (Tisch) Music Instrumental (Steinhardt) Music Business (Steinhardt) Studio Art (Steinhardt) The Art of Travel (Gallatin)
Stern's Annual Photography Contest Spring Break Edition This year's winners: Top Right: Wendy Yang Location: Boquet, Panama Bottom Left: Matty Kim Location: Lisbon, Portugal Bottom Right: Anvita Prabhu Location: Lake Hallstatt, Austria
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Senior Superlatives
Most likely to be
famous
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Manan Bhandari
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BIGGEST FRΔT STΔR
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Parth Shah
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Pauline Zheng
Best Dressed
Andrew Qiao
Megan Machado
Least likely to
Supna Patel
Best Hair
grow up Kevin Sun
Jared Schulman & Rachel Levine
Wei Ming Wong
College Sweethearts
FUTURE STERN PROFESSOR
Best smile
Shahryar Bachani & Matheus Silva
Best Friends
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