November 2024 Friday’s e-links: Three Huge Numbers With Good Stories

Last updated 11/01/24

Every once in a while, (and sometimes each day) I listen to a great podcast, enjoy an article, or see a good video that I want to share with you.

Last updated 11/01/24

Today, I would like to share three large numbers; 250,000, 16,000, and $2 million. Each one, in its own unique way, takes us to an interesting article and a basic economic concept.

250,000

The first number takes us to the fat bear contest in Alaska’s Katmai National Park. Observing the competition, we see that bears eat 40 salmon a day but scientists also report that, after the salmon, they devour 250,000 berries a day. As for the economics, a legislative tradeoff takes us back to lawmakers that have had to decide between granting oil drilling rights or preserving the bears’ natural environment.

16,000

Next, we can only begin to perceive what it means for Netflix to have 16,000 titles in its library. We recognize that 16,000 options create decision fatigue for us but also they reflect how we make our decisions at the margin. So yes, we are always choosing how much extra but with Netflix, the extra possibilities are massive.

$2 million

And finally, approximately $2 million represents the price of a whoppingly expensive handbag called the Sac Bijou Birkin. I suspect there is nothing that creates a million dollar purse except the power of the market. With Birkin bags, as with all other commodities in a market economy, demand and supply create price.

Each of the articles linked to the numbers is an interesting “read” that I recommend as this week’s e-links.