jerryking + manhattan   14

What Jeffrey Epstein’s black book tells us about Manhattan
AUGUST 23, 2019 | Financial Times | Holly Peterson.

...it makes perfect sense that Epstein would need a black book of people he knew — and wanted to know. He couldn’t get to the top of the totem pole otherwise. His career was so secretive, his CV so sparse, that no one knew where his money came from. What he needed was a social network.

The primary axiom to remember in this hideous saga: rich people don’t get richer only because of tax windfalls. Rich people get richer because they hang out together....Most of the Americans included in the black book have one common denominator: they are socially and professionally voracious people who form part of New York’s “Accomplisher Class”. The accomplishers appear at book parties, Davos, the Aspen Ideas Festival, benefits and openings. They understand that to be avidly social is to assure recognition and prominence. Remember, the rich covet convening power: the ability to reach a point where one’s social and professional life are confused as one....Tina Brown has been an astute observer of New York society....“The alpha energy of Manhattan is far more intense than anywhere European: more money, bigger stakes. Every achiever who wants to get to the top, has to fight like hell to be seen and heard on this island.”.....The now ossified Wasp culture may still count for country club memberships or the preppy glow of a Ralph Lauren advertisement, but not much else. New York high society has been paradoxically meritocratic for a few decades, at least since the go-go 1980s......On a grander scale, the accomplisher class is neither defective nor debauched. When accomplishers exchange ideas, much good can come in the form of entrepreneurship in technology, business or innovative arts.....At its best, the American system of philanthropy launches museums and hospitals, urban and charter schools, and relief to the poor in towns all over America. Much of this is enabled by the accomplishers, aided by tax laws that promote charitable deductions. People in this group have multiple invites most weekday nights to attend benefits that help the causes they care about most, with the added value of showing off how magnanimous they are in programmes that list precisely how much they gave....Attending a high-end event in New York is a way of taking a victory lap with other accomplishers around the room......It would be a mistake to assume that the accomplisher class is all about wealth. If you want access to capital or airwaves, boring and rich doesn’t get you that far in this high-testosterone playground. If you ran your father’s company into the ground, you’re a nobody in this town. The paycheck is not all that matters: editorial media power controls the conversation, foundation power means you write the big checks. What people admire is top achievement in almost any field....Accomplishers in New York society may be particularly American in that they do not necessarily shy away from a bad reputation. They are so interested in a story and a comeback that they can forgive human failings, and are often intrigued with flaws as much as success.

What’s more, New York is so relentlessly fast-paced and ambition among the accomplishers so colossal, they don’t always take the time to be discerning.
Bonfire_of_the_Vanities  comebacks  elitism  high-achieving  high_net_worth  Jeffrey_Epstein  Manhattan  New_York_City  overachievers  philanthropy  political_power  reputation  the_One_percent  Tina_Brown  meritocratic  The_Establishment  social_networking  social_classes 
7 weeks ago by jerryking
Where Does Major American Art Come From? Mapping the Whitney Biennial.
July 5, 2019 | The New York Times | SCOTT REINHARD, DEREK WATKINS, ALICIA DeSANTIS, RUMSEY TAYLOR, and SIDDHARTHA MITTER.

The first Whitney Annual in 1932 was transgressive.....In 1973, the exhibition became a Biennial, and its history is the history of American modern and contemporary art. Or, at least one version of that history: one centered in New York City, one heavily white and male. That is no longer the case. This year, a majority of the show’s artists are women, and they are racially and ethnically diverse. New York, however, remains home to nearly half of them.

Until 1975, the exhibition catalogs listed the addresses of the artists who were included each year. Mapping these locations tells a story of influence and power — but also one of friendships and creative communities, of housing prices and economic change, of landscape and light. Here are some of its facets.
art  artists  bohemians  Chicago  contemporary_art  creative_class  creative_types  diversity  gentrification  geographic_concentration  Greenwich_Village  location  Los_Angeles  Manhattan  mapping  museums  New_York_City  overlay_networks  prestige  proximity  SoHo  transgressiveness  white_men 
july 2019 by jerryking
DE Shaw: inside Manhattan’s ‘Silicon Valley’ hedge fund
March 25, 2019 | Financial Times Robin Wigglesworth in New York.

for a wider investment industry desperately trying to reinvent itself for the 21st century, DE Shaw has evolved dramatically from the algorithmic, computer-driven “quantitative” trading it helped pioneer in the 1980s.

It is now a leader in combining quantitative investing with traditional “fundamental” strategies driven by humans, such as stockpicking. This symbiosis has been dubbed “quantamental” by asset managers now attempting to do the same. Many in the industry believe this is the future, and are rushing to hire computer scientists to help realise the benefits of big data and artificial intelligence in their strategies........DE Shaw runs some quant strategies so complex or quick that they are in practice almost beyond human understanding — something that many quantitative analysts are reluctant to concede.

The goal is to find patterns on the fuzzy edge of observability in financial markets, so faint that they haven’t already been exploited by other quants. They then hoard as many of these signals as possible and systematically mine them until they run dry — and repeat the process. These can range from tiny, fleeting arbitrage opportunities between closely-linked stocks that only machines can detect, to using new alternative data sets such as satellite imagery and mobile phone data to get a better understanding of a company’s results...... DE Shaw is also ramping up its investment in the bleeding edge of computer science, setting up a machine learning research group led by Pedro Domingos, a professor of computer science and engineering and author of The Master Algorithm, and investing in a quantum computing start-up.

It is early days, but Cedo Crnkovic, a managing director at DE Shaw, says a fully-functioning quantum computer could potentially prove revolutionary. “Computing power drives everything, and sets a limit to what we can do, so exponentially more computing power would be transformative,” he says.
algorithms  alternative_data  artificial_intelligence  books  D.E._Shaw  financial_markets  hedge_funds  investment_management  Manhattan  New_York_City  quantitative  quantum_computing  systematic_approaches 
march 2019 by jerryking
New York’s business elite decamps to millennial-friendly Hudson Yards
March 11, 2019 | | Financial Times | by Joshua Chaffin.

The $25bn Hudson Yards, the site of KKR’s new office and one of the most ambitious New York developments since Rockefeller Center, officially opens its doors this week after more than a decade in the works. It is big, boasting as much new office space as all of central Pittsburgh.

It is an engineering feat. Its towers are constructed on top of a platform that sits above a working rail yard. Its builders crafted 90-tonne columns to support the weight. They also devised a custom cooling system for the soil within the platform so that tree roots would not overheat.

As KKR can attest, Hudson Yards represents another extreme: it is the boldest expression of a new fashion in corporate real estate that buildings and “space” should be potent weapons in a fight to recruit and retain talented young workers.

The Related Companies and its partner, Oxford Properties, have made that a central element of a sales pitch that has persuaded KKR and other power brokers to quit Manhattan’s corporate strongholds in midtown and downtown and move west.

Joining Mr Kravis in his new home are Larry Fink, who is moving BlackRock, the world’s largest asset manager, to Hudson Yards; attorney David Boies and his law firm Boies Schiller Flexner, and hedge fund managers Daniel Loeb and Steven A Cohen, among others.
elitism  Hudson_Yards  KKR  Manhattan  millennials  New_York_City  Oxford_Properties  property_development  vitality 
march 2019 by jerryking
It’s a Diverse City, but Most Big Museum Boards Are Strikingly White
AUG. 22, 2017 | The New York Times | By ROBIN POGREBIN.

Whether arts groups will make real progress is an open question. Cultural organizations have often struggled to identify minority board members capable of meeting the high donations — often millions of dollars — demanded by the city’s leading arts organizations.

“The hardest nut to crack is going to be the boards,” Mr. Finkelpearl said, adding that executives need to think about ways besides money that trustees of color can add value, namely through their art collections, personal connections or professional expertise.
Bill_de_Blasio  Darren_Walker  New_York_City  Manhattan  museums  cultural_institutions  diversity  leadership  curation  Ford_Foundation  visible_minorities  MoMA  boards_&_directors_&_governance  theatre  African-Americans 
august 2017 by jerryking
Workouts, Times 2 (or 3)
By COURTNEY RUBIN
Published: May 4, 2012

These women (and nearly all of them are women) who sweat through double and occasionally triple workouts at different boutique fitness outfits in the same day aren’t major-league athletes or required to look good for a living. Most are professionals with full-time jobs, yet they manage to spend some two hours a day — and upward of $500 a month — exercising. (By comparison, a membership at the upscale Equinox gym chain ranges from $149 to $183 a month.)....multiple-gym membership is also popular in “affluent metro areas” like San Francisco and Boston, but the phenomenon of two or more separate, specialized gyms in one day “is definitely a Type-A New Yorker thing.”

How is this different from, say, hitting an elliptical machine and following it up with weights?

For one, the boutique gym workouts may be tougher. “These gyms are expensive, but they’re a cheaper way of having a personal trainer all the time,”.....“They’re small groups and they push you hard.”.....Much-higher-than-expected demand for the all-studio, all-access option forced the company to raise the price from $760 a month to $1,000 within three months of opening, she said, though FITiST does not encourage doubles or “necessarily think they’re healthy.”...
fitness  gyms  exercise  New_York_City  Manhattan  boutiques  upscale 
may 2012 by jerryking
Miracle Above Manhattan
April 2011 | National Geographic Magazine - NGM.com | By Paul
Goldberger. New Yorkers can float over busy streets in an innovative
park.
parks  New_York_City  things_to_do  High_Line  Manhattan 
may 2011 by jerryking
Bringing the High Line Back to Earth - NYTimes.com
By WITOLD RYBCZYNSKI
Published: May 14, 2011
The High Line may have become a fashionable distraction for out-of-town
visitors, it succeeds because it offers a green outlet to its many
neighbors, who, like Parisians, live in small apartments. In no other
American city do residents rely so much on communal green space, rather
than backyards, for relaxation....American cities are always looking for
quick fixes to revive their moribund downtowns. Sadly, the dismal
record of failed urban design strategies is long: downtown shopping
malls, pedestrianized streets, underground passages, skyways, monorails,
festival marketplaces, downtown stadiums — and that most elusive fix of
all, iconic cultural buildings. It appears likely that we will soon be
adding elevated parks to the list.
New_York_City  sightseeing  things_to_do  urban  parks  High_Line  Manhattan  revitalization  public_spaces  green_spaces 
may 2011 by jerryking
Joe Fresh's global expansion plan: first, he takes Manhattan - The Globe and Mail
Feb. 23, 2011 Globe and Mail MARINA STRAUSS. Joe Mimran is
returning to Manhattan with plans to test the first four Joe Fresh
stores in New York this fall, including a flagship on Fifth Avenue
several blocks from Club Monaco. In his latest U.S. foray, he envisions
the potential for as many as 800 Joe Fresh outlets in the U.S. within
five years, as well as expansion beyond North America,
Marina_Strauss  growth  crossborder  Loblaws  Mimran  Manhattan  New_York_City  retailers  expansions 
february 2011 by jerryking
The World's District Attorney
DECEMBER 26, 2009 | Wall Street Journal | By JAMES FREEMAN.
Legendary prosecutor Robert Morgenthau on his famous cases, his brawl
with Mike Bloomberg, and why he's sounding alarm about Iran.
lawyers  Manhattan  New_York_City  profile  prosecutors 
december 2009 by jerryking

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