Category Archives: Culture

Postcript on Tarantino vs Ritchie

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One of the most popular entries on this blog is about the film directors Quentin Tarantino and Guy Ritchie. I can’t really explain the amount of traffic this article has generated, but I’m glad readers seem to like it.

I recently watched Guy Ritchie’s latest film, “The Ministry of Ungentlemanly Warfare”. And since Tarantino has signalled his intention to stop making movies, I can’t help feeling that Ritchie is attempting to pick up the baton from where Tarantino has left off. Because “The Ministry…” comes across as Ritchie’s version of “Inglorious Basterds” – but more like “The Italian Job” than “Dirty Dozen” or “Where Eagles Dare”.

This competition between film makers may not quite equal the creative rivalry between The Beach Boys and The Beatles in 1966-7, but it will be interesting to see what each director does next.

Next week: Unintended Consequences?

 

Notes from Hong Kong

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My personal relationship with Hong Kong stretches back 30 years – to the time I moved there from London in 1994. I arrived on a 1-2 year contract, and ended up living in the city for 6 years. Since then, I have continued to visit at least once a year, and my latest trip earlier this month was the fifth since hotel quarantine was lifted in October 2022, following the global pandemic.

Despite the significant political, demographic, social and economic upheavals of recent years, in many ways Hong Kong remains the same. It still acts as a fulcrum between East and West, and an important trading entrepôt for mainland China and the rest of the world. There are still the evident paradoxes represented by Hong Kong’s ancient traditions and modern values, combining spiritual beliefs with materialistic tastes, and vertiginous high-rises set against mountainous backdrops and waterfront vistas.

From an economic standpoint, Hong Kong remains in something of a lull. People I spoke to commented that the SAR government needs to find new sources of income, especially as the property market (a cornerstone of the local stock exchange) remains patchy, and visitor numbers are only about 50% of pre-pandemic levels.

As I have mentioned in a previous blog, Hong Kong is usually resilient and adept at reinventing its financial fortunes.

For these reasons, the Hong Kong administration is pursuing a fairly aggressive policy of promoting itself as an attractive global venue for the digital asset industry in part to reinvigorate the local capital markets, in part to outpace its regional neighbour and rival, Singapore. (Plus, the SAR acts as something of a test bed for the rest of the PRC.) According to people I spoke with, there is some difference of opinion as to how many digital asset exchanges are actively pursuing a Virtual Asset Service Provider (VASP) license, given that only two licenses have been granted so far, while a number of applications have been withdrawn, refused or rejected for being incomplete.

During my visit, I was granted a 1:1 interview for Brave New Coin with Yat Siu, co-founder and Chairman of Animoca Brands, a leading player in web3.0, NFTs, the metaverse and, potentially, stablecoin issuance. A major advocate of digital property rights, Siu is a very influential figure within the fintech scene, and I expect to see many more announcements from his company leading up to, and during, major events such as Token2049 and Hong Kong Fintech Week. I also met with clients and contacts across crypto exchanges, hedge funds, VCs, brokers and tech providers. All remain suitably bullish on the digital asset sector, although some considered that there needs to be some industry consolidation, to soak up excess infrastructure and to stabilise the entry of institutional fund managers.

Finaly, I found time for some contemporary art exhibitions, confirming that Hong Kong continues to establish its profile in the arena of global culture. There was Bruce Nauman at the JC Contemporary in Tai Kwun, I.M.Pei and Henry Steiner at M+, and even Banksy and Damien Hirst at Sotheby’s Maison at Chater House. Of course, this being Hong Kong, the displays in Sotheby’s showrooms are not too dissimilar to the luxury goods on sale in the surrounding malls.

Next week: Postcript on Tarantino vs Ritchie

 

Bad Sports

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The Paris Olympics have just ended, and overall we can say that sport was the winner – although there were the usual political spats, doping allegations, faux outrage, athlete arrests and typical media hyperbole.

Speaking of the latter, I can’t believe that the following headline appeared in a serious newspaper:

Civil war bubbling in Paris as Ariarne Titmus and Mollie O’Callaghan clash in Olympic 200m

“Civil war”? Really? Quite apart from the implied hysteria, is this a responsible use of language in today’s turbulent and highly charged political environment? And after all, it’s JUST a sporting contest, between a couple of athletes who have chosen to pursue a career in sport – it’s not like a life and death situation! Plus there were a few other swimmers competing in the final – but you might be forgiven for thinking it was a two horse race.

Of course, Australians are fanatical about sport, so perhaps this kind of OTT reporting is what we have become used to. Actually, let me clarify. The Australian public has become addicted to watching professional team sports on TV, and gambling on the outcomes. But there are so many paradoxes about this sporting obsession.

First, the two main sporting codes that dominate domestic media coverage, sponsorship dollars and betting apps are the AFL and NRL. Despite what these big businesses would like to believe, neither of these competitions is national, as defined by geographic team representation. No teams from Northern Territory or Tasmania in either league, and none from Western Australia or South Australia in the NRL (and only one from Victoria – which to many people, is the bastion of Australian sport, being the home of the MCG!). As for the travesty of a national Rugby Union competition, let’s not go there…

Second, despite all the attention that the AFL and NRL command, Association Football (aka soccer) is the largest by player participation. Which should not be too surprising given soccer’s global reach and appeal.

Third, there are more people involved with individual rather than team sports. Recreational walking, fitness/gym, athletics, swimming, yoga and golf have higher participation rates. Again, not surprising, as most people drop out of team sports once they leave school. (This may also explain the recent surge in gyms and fitness centres in Australia.)

Fourth, despite being a sport-obsessed nation, Australia has a high percentage of children who are overweight or obese. So rather than pouring public money into a new Tasmanian sports stadium, or failed bids to host the Commonwealth Games (and who knows how many billions the 2032 Brisbane Olympics will eventually cost?), perhaps our State and Federal governments should look at how they can fund greater participation rates, especially among children and teenagers, and make existing sporting facilities more accessible to the wider population.

Finally, as a long-suffering supporter of England in cricket, rugby union and soccer, I can sometimes admire (albeit grudgingly) the difference between English and Australian fans – the former hope their teams will do well, whereas the latter expect (nay, demand!) nothing short of a win. But this obsession with winning comes with a price – sandpaper, anyone? It can also be unhealthy – I was living in Sydney when Australia last hosted the Olympic Games, in 2000. It was a fantastic time to be in the city, and the locals put on a great show. But as I walked away from watching the closing ceremony fireworks over the harbour, one young Aussie supporter was loudly declaring that “we won the Olympics”. I think he was under the misapprehension that Australia topped the medal table (they were fourth) or that it was “Australia vs the World”, not quite in the Olympic spirit!

Next week: Notes from Hong Kong

 

Album Celebrations

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When the first 12″ vinyl record was issued in 1948, did any record labels expect that this format would still be in use nearly 80 years later? The death of the 33rpm disc has been predicted many times, based on industry events and cultural trends that were expected to render vinyl albums obsolete. Music cassettes, CDs, MiniDiscs, mp3s, 7″ 45rpm singles, home-taping, downloads and streaming were all seen as existential threats to albums. Yet, despite reaching near extinction in the 1990s, vinyl albums (both new releases and back catalogue) are currently enjoying something of a revival.

This resurgence of interest in albums can be attributed to several factors: baby boomers reliving their youth; Gen X/Y/Z watching shows like “Stranger Things”; the box set, reissue and collector market; retro fashion trends; and a desire for all things analogue, tactile and physical (in contrast to the vapidity of streaming…).

Streaming has definitely changed the way many people listen to music, to the extent that albums have become deconstructed and fragmented thanks to shuffle, algorithms, recommender engines, playlists and a focus on one-off songs and collaborations by today’s popular artists. By contrast, most albums represent a considered and coherent piece of work: a selection of tracks designed and sequenced to be heard in a specific order, reflecting the artist’s creative intention or narrative structure. Streaming means that the artist’s work is being intermediated in a way that was not intended. You wouldn’t expect a novel, play or film to be presented in any old order – the author/playwright/director expects us to view the work as they planned. (OK, so there are some notable examples that challenge this convention, such as B.S.Johnson’s novel, “The Unfortunates” or the recent “Eno” documentary.)

Thankfully, classic albums are now being celebrated for their longevity, with significant anniversaries of an album’s release warranting deluxe reissues and live tours. This past weekend I went to two such events. The first was a concert by Black Cab, marking 10 years since the release of their album “Games Of The XXI Olympiad”. Appropriately, the show was the same day as the opening of the Paris Olympics, and the band started with a brief version of “Fanfare for the Common Man”. The second was part of the 30th anniversary tour for “Dream it Down”, the third album by the Underground Lovers. As well as getting most of the original band members together, the concert also featured Amanda Brown, formerly of The Go-Betweens, and who played on the album itself. (Also on stage was original percussionist, Derek Yuen – whose day job is designing shoes for the Australian Olympic team…)

It’s hard to imagine we will be celebrating the date when an artist first dropped a stream on Spotify….!

[This year also marks the 40th anniversary of the release of “Pink Frost”, the break-through single by The Chills, New Zealand’s finest musical export. So it was sad to read of the recent passing of their founder, Martin Phillipps. The Chills were one of many Antipodean bands that always seemed to be playing in London in the late 1980s, often to much larger audiences than they enjoyed at home. Their classic early singles and EPs are once again available on vinyl. Do yourself a favour, as someone once said!]

Next week: A postscript on AI