Articles

Collectors + Investors

I woke up this morning to messages from several friends directing me to this tweet, asking my thoughts. Unsurprising, as anyone who knows me probably knows I’d have more than a few thoughts on something like this. I started thinking of snarky replies or gotchas that I could cleverly post and trust me dear reader, there were many that came to mind. But the more I thought about it, and read the replies from artists who seem to be bending over backwards to agree in hopes that the tweets author might check out and buy their work, I thought it would be better served with a more thoughtful response to illustrate why this is so problematic. Also, I would like credit for my display of maturity and restraint in not just posting a snarky reply. Sean from 20 years ago is wondering who the hell has hijacked his blog right now.

As an art dealer, I would refuse to sell art to someone who came in to my gallery and made a statement like this. I don’t say that hyperbolically – when I had a gallery this was a topic that came up from time to time and we were unapologetic about refusing to sell work to anyone who asked questions like “how soon will I be able to sell this and double my money?” or “do you have anything that will match my couch?” Additionally I’d actively and vocally advise artists to avoid selling work to someone with this approach because while a sale might be nice today, in the long run buyers like this will most likely make decisions later that will negatively impact the artist. And if you think of art as a long term thing, as I do, selling to a buyer like this is basically failing the marshmallow test. This is investing in the art and not in the artist. To me, the artist is always more important than the art. As an art dealer, I wanted to develop long term relationships with artists and watch them grow, and help out where I could. I wanted to look back on my life and the careers of artists I worked with and be proud of what we did together. This artist-first approach wasn’t always the best decision for the profit margin of the business but it allowed me to sleep well at night, and that 15 years after the gallery closed I still count many of the artists I worked with as close friends tells me I made the right decisions. As a dealer, I worked for the artists not the collectors. I wanted the value of the art to go up just as much as anyone else (and it has) but I deeply believe that this happens much more reliably by making decisions that are in the best interest of the artist, and selling to someone who only sees art as an investment simply isn’t.

As an artist, I would be disappointed to know that someone bought my work and didn’t want to be thanked for it. I would be sad to learn that they didn’t have any interest in supporting me or my efforts. This statement is both hurtful and dehumanizing. It says that this person sees artists as nothing but a factory to crank out things which will make them money. Amusingly this is one of the reasons I eventually got out of the technology start up world, which I wrote more about in The Interest Driven Life, but I couldn’t stomach having meetings with venture capitalists who didn’t give a shit about me or my dreams or my goals and only wanted to know how much money I was going to make them, and how fast. Now, I’m not knocking this kind of investing approach – I just think there are ways to do it which don’t hurt people. Invest in shitcoins or flip some Bored Apes. That doesn’t hurt anyones feelings, or make anyone second guess their life choices. I guarantee you no one at LavaLabs is going to be suicidal because someone is rage tweeting that their Meebit hasn’t doubled in value yet. Pure investors don’t understand (or care about) the difference between artwork and a collectable, between individual artist and for profit company.

For most artists I know, just admitting you are an artist is unspeakably hard. It’s a position filled with self doubt, insecurity and questioning choices, but deep down we do believe in our work and our vision and have to trust that somewhere out in the world someone recognizes and connects with that. I make art to tell stories, and find connections, and find communities, and build relationships. Not to make some investor money. I do recognize that I’m in a position of privilege to be able to turn down sales that I don’t think are a good fit, to people who I don’t like. Not everyone can do that, but that’s also why I try to forge the path so that it’s easier for the next group of artists. And I’m pretty sure I can confidently say that standing here at 46 years old, everyone who has bought my work in the last 20 years has done so because they either wanted to support me personally or because my work meant something to them personally – and I’m deeply thankful for that. I would sell my work to someone who loved it and planned to keep it forever over someone who was hoping to sell it at a profit any day.

As an art collector, I despised buyers with this kind of an attitude. Selfishly, because they usually had more money than me and would buy things I loved and it pained me knowing they didn’t actually care about them. I much prefer the Vincent Price / Dennis Hopper approach which comes from recognizing the value that the artists bring to the world, to culture, to society and trying to support that. I forget where but I saw Hopper speaking once and he said something like “If you do it right, being an art collector means you are just a care taker” going on to say that he saw his job as protecting the art he bought until the “real art” world recognized it and made space in museums for it. He says something similar at the end of this short video. He viewed collecting art as documenting a culture and a community. I visited his house in Venice Beach once and and stepped over carefully rolled up Basquiats in order to get a better look at framed photographs by artists I’d never heard of hanging on the walls. His love for the art and for his friends was unquestionable, and it made me feel so much better about my own collection which is almost entirely work by friends. Some of whom I knew before I bought the work, some of whom I became friends with after buying the work. To me, those relationships are so much more valuable than any individual piece of art, but often the art is a physical representation of that relationship. The context is different but I’m reminded of the lyrics to Softcore by Jawbreaker which accuses “They just want the wrapping, They throw away the prize.” As a collector who values and appreciates the culture and the community, it pains me to know that work is sold to people who don’t care about any of that. I understand why it happens, but I don’t have to like it.

To be clear, I don’t think this is a zero sum topic. You don’t have to care about the artist, or your investment. Someone can care about both the value of their investment and in the artist that created the art, and I’d wager to say most people buying art fit into that category. But a comment like the one above represents a hard far end of a spectrum which I can only sum up as “bad.”

When we’re talking about NFTs, which we often are these days, there is a tendency for investors to lump everything together. They see no difference between something created by hand or something created by an algorithm. This illustrates their deep misunderstanding of both art and NFTs. I think this is actually a dangerous mindset which can actually harm artists and communities, and would recommend steering clear of buyers with this approach. This is a brand new world and the collectors who love the art and want to build the community are still showing up every day. Let’s embrace the people who want to build something together with us. We don’t need to make sacrifices to make people who don’t care about us rich.

Control

Control is an ever present topic as an artist. We’re taught the rules and then encouraged to discard them. We celebrate happy accidents, and endlessly tweak precision techniques. The craft vs the variables. As a photographer this is multiplied by the endless gear and negated by endless memory. Film is whispered to be more pure, but it’s really just adjusting when you make the important decisions, before or after. On camera or off. As a street photographer, observation is everything, and everything is anticipation. You can only control so much. All the planning in the world is pointless if nothing catches my eye. As a writer, I control the words but not what is inferred from them. At some point I have to let go. But even then, always holding onto something.

The struggle between controlling and controlled is only complicated when life gets all over it. 

Primarily, my work is directly eternally. I capture moments of things happening around me, not to me. I leave the interpretations up to others, and it doesn’t matter if they are right or wrong. It’s about the feeling, not the reality. Artistic license applied to real life. By intentionally giving up control, it can’t be taken from me. It’s defensive, and preemptive. I don’t know the story from my subject’s perspective, I only know how I perceive it. And in that way, I retain control.

It’s harder to let go when looking inward at my own life and experience, when that dynamic is turned on end. I know the story, but no matter how desperately I want to tell it I’ve moved from the place of observer to the observed. When looking at photos I’ve taken of my life or my family, I know what was happening, but also what was about to happen. And how I played into that. Willingly. Unwillingly. Inconsequentially. Despite the consequences. The viewer only has part of that story, and I wrestle with how important the other part is. Or isn’t.

At the same time, I’m deeply attracted to community powered projects, shared decision making and consensus within a group. Finding a way for these themes to connect is both exciting and scary.

CryptoArt and Crypto Pricing

When I started visiting Japan I made it a habit of keeping track of the yen to dollar and was always doing the math in my head every time I bought anything so that I knew how many dollars I was spending. That made sense because while I was “visiting” in yen, I “lived” in dollars. After I moved to Japan I quickly realized that stressing out that the ramen I paid $5 for last week costing $5.25 this week was pointless and I should instead just enjoy my 500 yen ramen and stop worrying how much it was costing me in dollars. I was getting paid in yen, and paying for things in yen. I needed to get comfortable with yen and stop pining for dollars.

6 months ago 1 Ethereum (Ξ) converted to about $400, today it’s over $2100. In that time I’ve seen artists price their works in Eth matched against the dollar conversion they think is reasonable, only to lower the Eth price weeks later when Eth went up in value. I kind of cringed when I saw it happen several times but I couldn’t put my finger on why exactly. I mean, I get it – if you think your work is worth $500 one week it stands to reason you would think it’s worth $500 the next week and the value of some cryptocurrency shouldn’t impact that. Right? Earlier today I was looking at the value of Eth and thought about some work that I minted last week and thought I should probably lower the asking price since Eth has going up significantly since I listed them. So I did. And then I felt sick. And I knew exactly why.

Back when I used to have an art gallery how artists should price their work was a constant topic of discussion. The rule of thumb is simple, you can always increase a price but you can never decrease it. The logic being, if collectors see you lower a price they will never think your work is worth the listed price, and will always think they can get a discount or if they just wait a little longer the price will come down further. Conversely, if you only raise prices an interested party will quickly realize that if they are leaning towards something they should jump now because if they wait it will cost them more.

I keep saying that NFTs are a new medium and artists and creators should think of them that way, and embrace it. And the native currency of this medium is Eth. Sure some marketplaces take credit cards or other cryptocurrency but the dominant payment is Eth. And adjusting the Eth price to keep it matched to the dollar price still looks and feels like lowering the price. Because it is. We might have been “visiting” Eth before while “living” in dollars, but it doesn’t take more than a few weeks to start feeling like a local, and if you now “live” in Eth, then you should stop pining for dollars. An artwork valued at Ξ1 should remain valued at Ξ1 no matter what value Eth has to dollars. That’s a bold position and I get that, but in a way this is walking the walk. NFTs are crypto native, and if we’ve moved from tourist to resident, then we should embrace all that comes with that. That’s going to be a hard sell for many people, and realistically I know we’re not there yet. But we should see it on the horizon, and know what direction we’re heading.

On a personal level I’ve always been terrible at taking my own advice and can be firm with others but often second guess myself. In part because I can be sure of other people’s talents but I struggle recognizing my own. Call it imposter syndrome or insecurity or whatever but I know I’m not alone in that and many artists wrestle with what value to put on their own work. That said, I feel like I fucked up adjusting my pricing to compensate for Eth appreciating. I feel like I devalued my work. It’s not something I’m going to do again.

NFTs: All Power To The Artists

(This is part of an ongoing series of posts about art & NFTs.)

Right now, in the world of NFTs, artists have all the power. All of it. This is a battlecry. And when I say “artist” I’m generally referring to any kind of creator. I’ve already seen painters, writers, dancers, musicians, photographers, etc. all do fantastic and delightful things with NFTs. This is wonderful because in most industries where these artists usually live they are forced to compromise, be subordinate or end up beholden to any number of entrenched middle men. That’s a hard truth, but one we all know to be real.

By and large the current NFT marketplaces desperately want to assume that role. They are embracing the archetype of the established curator king in hopes that artist will assume the role of subject. And many artists are happy to do that as it’s all they’ve ever known. But at this moment we have the opportunity to flip that table and build a new castle with better kitchen appliances installed from day one. Artists rightly get excited about the prospect of attention from the Gagosians and Saatchis of the world not because they arrived on the scene yesterday and put up a cool sign outside, but because they have decades and decades of history, and story, that an artist might hope to become part of. The blockchain is a decade old, NFTs have been around for a few years, the really old NFT marketplaces are only 2 years old, most have not been live for even a full year. Almost every artist minting NFTs has an art career which predates these sites launching.

To be clear, I’m not trying to universally knock the platforms or the people working with them. However here are certainly people who see all of this as just a short term play with a hugh upside which they are hoping to cash in on, like they did with the last thing, before they move onto the next thing. And there’s nothing wrong with that, more power to them, but as artists we all should be aware of what is happening and take care not to fall victim. Right now, in almost all cases, artists minting work on Platform X does more to benefit Platform X than it does the artists, which is important to consider when Platform X is asking for 20% of the sale price as their fee. (Currently the platforms I’ve assessed are taking between 0% and 30% so it’s quite a range) Artists can and should be asking what Platform X is doing to earn that cut. If the answer is “we let you in” that really is not good enough. By minting on Platform X we are giving our attention, marketing potential and money to that platform, so it’s worthwhile to ask questions ahead of time.

Conversely there are certainly people at platforms that are thinking about the artists first, and thinking of long term mutually beneficial partnerships. I’ve talked to several of them myself, but I’d be lying if I said those people weren’t in the minority. This is why I say that artists have all the power. We can vote with our dollars, vote with our time, vote with our attention. We can demand that things be different. There is absolutely a value in curation, but there is also a very well known problem with arbitrary middlemen. The promise of all this decentralized technology is that it puts power and agency back into the hands of the people rather than keeping it locked away in the vaults of the companies. It would be a shame to embrace this new world only to hand that power back over to a handful of randos who showed up yesterday. All Power To The Artists.

(As an aside, if you read this and take offense you should ask yourself why? You chose to see your reflection in the picture I’ve painted. If you don’t want to be accused of doing shitty things, don’t do shitty things. Don’t be one of the randos, think about what value you have to offer and realize you are lucky to have artists paying attention to you. Keep trying to do the right thing, and in a few weeks/months/years when all the dust settles maybe you’ll still be standing. Artists were here before this and will be here long after, we have support systems that we’ve built for ourselves. You are welcome to join us. I am an unapologetic artist advocate and equally happy to work with people who want to see artists prosper, or crush those who see artists as just another stepping stone.)

NFT WTF

(for easy reference this post can be found at the domain: nftwtf.art If you want just the spreadsheet platform comparison go to nftart.lol If you want to see newer posts I’ve written on the subject, start here)

If you’ve been anywhere on the internet in the last few weeks or months you’ve probably been hearing about NFTs. Like scores of others, you’ve probably been wondering just what an NFT is and if you should bother caring about them or not. Valid questions. I’d argue that you should, especially if you are involved in any kind of arts or creative work.

If you want to get a very detailed in depth understanding of the history, technology and cultural impact there are a number of long winded explainers and think pieces written for just that purpose. That is not the purpose of this article even though it is also long winded – I mostly just want to pass on what I think is most important. That said, if you want to take a half hour and read these few articles you will have a very solid grasp of the landscape:
• Cryptomedia, NFTs and the Next Internet – Bobby Hundreds
• What is an NFT? – Everything You Need to Know about Crypto Media and Tokens – Tim Stodz
• NFTs and a Thousand True Fans – Chris Dixon
NFT Art Goes Viral and Heads to Auction — But What Is It? – Valentina Di Liscia

The Basics: NFT means Non-Fungible Token. Fungibility essentially means interchangeability and in economics that means that all dollars are basically the same. If I take $10 to my bank and deposit it, and then wire transfer it to you and you go to your bank and withdraw $10 you technically have a different $10 in your hand, but because “a dollar” is fungible that doesn’t matter, because $10 is $10. The “value” changed hands, even if the actual physical representation of it didn’t. Now lets say I drew a little sketch of my cat and wanted to give it to you but you live on the other side of the world. I can’t just give that sketch to someone who then tells someone else near you to draw a sketch of a cat and say it’s the same thing, because the sketch is non fungible. You need the actual sketch I drew for it to have value (financial or emotional). Now, if you think of digital items then they are basically all fungible. If I send you an email with a photo attached, you aren’t reading the exact thing I wrote or seeing the exact photo I sent, you are reading a copy of it. But what even is original in terms of digital? That’s where NFTs come in, using the blockchain (which is the technology behind things like Bitcoin) this is a way to ensure that a digital file is the original and not a copy.

One of the hesitations towards and criticisms of digital art has always been that it has no rarity, as anyone can make a copy of it as many times as they want and it’s no different than the original. The same argument is used to denigrate photography and video art, though usually there’s some physical element (a signed and numbered print for example) that specifies the uniqueness. That isn’t typically a concern with a painting or sculpture which is obviously one of a kind. Of course there are forgeries, but they take a lot of effort and experts can usually spot them quite easily. An NFT is a cryptographical way to create that rarity and uniqueness in a digital item and prove that something isn’t a copy.

An artist can “tokenize” a piece of work and then sell it, and the buyer can prove that what they just bought is the original thing sold by the artist. And because the blockchain is public, every time that artwork changes hands it’s recorded in a public ledger and at any point someone can verify the piece is legitimate and trace the chain of custody all the way back to the artist who originally released it. (Or the impersonator, as the case may be) Like an old library check out card, the blockchain records who owned it for how long, and if it was given to them or if they bought it, and if they did how much they paid. Which is a fascinating way to track value fluctuation (hopefully appreciation) over time. In this example of the library book, the stamped library card is the NFT – it’s something that accompanies digital file (often an image or a piece of media) to verify the provenance of that file.

I think this is one of the biggest and most important details – whoever originally creates the NFT is hard coded into the ledger and can specify a royalty that they should receive anytime the work is sold in the future. Traditionally secondary market sales happen like this: Andy makes a painting and asks Larry to sell it for him. Larry has a gallery and sells Andy’s painting to Kirk. Andy typically gets 50% of that sale. So if Kirk bought it for $1000, Andy just made $500. Larry did too, but that’s a different story. Anyway, say 10 years later Andy has become a much more popular artist and Kirk decides to sell that painting and asks Christie to sell it for him, Christie will take a 20% fee for doing that and 80% will go to Kirk. Andy gets nothing. So if Christie sells that painting for $1M, Kirk makes $799,500, Christie makes $200,000, but Andy gets nothing. He’s still only got that original $500 from Larry. However if that painting was an NFT, and Andy is the one who made it Andy could specify that anytime that work is ever sold in the future, he gets a % of that sale. (Make sure to read part 2 for important clarification of this point)

Artists! This is important. If a gallery or curator or someone has approached you about making NFTs of your work and hasn’t told you about this, chances are they are putting themselves in that royalty seat so they, not you, get paid off every sale.

Think of an NFT like your domain name or your email address. Some of you might know first hand the problems that can come from letting a business partner own or manage your domain or email. Or your bank account. This has the potential to be a million times worse, and it’s one of those problems that you won’t realize is a problem until it’s too late. Take steps to avoid it now by making and publishing your own NFTs. It’s really not that hard, and the effort is worth it.

One final thing: Like iPhones vs Androids, there are two common standards at play here though in this case they were both made by the same people. ERC-721 and ERC-1155. ERC-721 is the older standard used by everyone and is for absolutely positively one of a kind items. ERC-1155 is a newer standard (and thus still gaining adoption) and is more flexible as it allows you to make one of a kind items, or an edition (only 25 ever made). If you want to understand more on that, read this.

With that out of the way, let’s move on.

So how do you make (or “mint” as it’s called) an NFT? Actually how you mint, list, and sell an NFT are closely related. For the purpose of this I’m going to be talking about minting and selling on OpenSea which is the currently the largest marketplace for such things, and is the service I used to easily mint my first NFTs.

There are several sites that will help you make NFTs and also several sites where you can sell NFTs. As long as they are using ERC-721 or ERC-1155 standards the NFTs you create in one place can be transferred or sold in another place. But in the same way you can’t take one painting and sell it to 5 different art galleries at the same time, one of a kind items can only be sold on one marketplace at a time.

Some friends andI created a comprehensive spreadsheet comparing the top 30 platforms. Each site has different policies, practices, and fees. Some have strict curation and you have to apply and prove yourself worthy to sell things there, some require buyers use their own in house cryptocurrency rather than something more widely exchangeable and some have pretty high fees for that convenience so caveat emptor. Again, to keep things simple I’m only talking about OpenSea.

OpenSea also offers “free NFT minting” which is a little misleading in that you still have to pay to initiate your account (technical limitation that you have to pay anywhere) but while other sites will charge you a “gas” fee every time you mint a new NFT, OpenSea won’t. (Gas is an important thing to understand, I spend more time talking about it in part 2 )

You will also need a wallet to accept all the crypto you will be making from your sales. You might ask why you can’t just use paypal or something? Because paypal deals in FIAT currency not cryptocurrency which is central to this entire thing. On OpenSea most sales are done using Ethereum (which is the second most popular cryptocurrency next to Bitcoin) though you can choose to accept a different type of cryptocurrency if you want. Think of OpenSea like ebay, they handle the transaction but they don’t hold money for you because they aren’t a bank. And neither is OpenSea, which is why you need a wallet. Most people use MetaMask which is simple browser extension, others prefer Coinbase Wallet or Rainbow which is an app you install on your phone. There are other options which you’ll be prompted to choose from when you first go to OpenSea, but you need one to go any further. Any money you make on the site from sales will go directly to that wallet, and if you choose that wallet when you decide where future royalties are sent then will go there too. But keep in mind that isn’t something you can change later, so make sure to write down all your wallet recovery details. If you lose your wallet, you lose your wallet. Literally.

Once you’ve connected your wallet your account on OpenSea exists. Keep in mind the two are linked, so if you go to OpenSea and use a different wallet, you’ll end up with a new (different) account. The little circle icon in the upper left corer is your avatar, and that dropdown will allow you to set all the basic profile stuff you would set on any site. Next to it is CREATE and you guessed it, this is where you go to create NFTs. Choose “My Collections” on that dropdown and on the next page you’ll be given an option to create a new collection which you have to do first as your NFTs will be part of the collection. You’ll get a popup asking for a name, description and logo.

One thing I didn’t realize, the collection is independent from the user. I guess because you can invite other people to help you manage collections. But point being, the URL will be based on the collection, not the user. For example when I created a collection called “D5Kglitches” I assumed that would be nested under the user “seanbonner” but it’s not, and creating that collection resulted in a URL that looks like this:

https://opensea.io/collection/d5kglitches

And as you can see on this page showing one of the NFTs in the collection, the attribution is to D5Kglitches, not Sean Bonner. In this context that’s not a big deal, but it’s worth noting. I plan to make NFTs of some of my photography and I’ll be making a new collection properly named when I do. (Update: I did.)

Once you’ve made a collection you can click into it and “Add New Item” which is the option you’ll use to mint an NFT. Before that you should click the “edit” button though and you’ll have a chance fill in more information including any links or credits you want to add, as well as that royalty thing I mentioned earlier. All NFTs in this collection will conform to this, so decide what % of future sales you want and put in your wallet address.

Once you’ve saved that, go back and hit that “Add New Item” button. This is where you choose the digital file you want to tokenize. Files can be a JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, or GLTF. Max size is: 100 MB. Add a name, a link to any external information about it (like your website) and a description. You can also add “lockable content” which is basically things that are hidden until it’s bought. I’ve seen people sell a collection of 10 blank white squares, with the actual image being locked content, so people didn’t know what they were buying until after they bought it. I’ve also see people sell a visual object and provide audio as the locked. Of course there’s no requirement to do this, it’s just an option if you want it.

Next is “Supply” and at the moment this is greyed out and limited to 1. However, if you paste “?enable_supply=true” into the URL and reload the page you’ll be able to edit that. BUT, you’ll lose anything you already added on the page, so don’t do that yet. Just go ahead with 1 copy and remember that for next time.

The next step is “create” which is where you’ll need to initiate your account with a transaction if you haven’t already, and then you can set the price/type of sale. Options are for a fixed price, auction, or declining price. Most people will want to just start off with a fixed price. If you have a following who is waiting on baited breath for your NFTs to drop then you could choose auction and see how much they are willing to pay. Declining price took me a minute to understand but this is a tactic to use FOMO as a marketing tool. You set a high price and a time period, and over that time the price gradually decreases until someone buys it or the deadline is hit – the idea being people will watch it and buy it before it gets too cheap and someone else gets it before them. I don’t know how this works in practice, but in theory maybe someone who only wanted to pay $100 might buy it at $120 because they are scared someone else will buy it at $105? Sort of a reverse auction or something.

Click sell, and you are rolling. You can tell people about your NFTs and people can buy them if you send them the link. They won’t be able to find them on their own though because there is one final step where someone at OpenSea has to manually “verify” that the collection is real and works and legal, once they do that then you are in search results on the site too. They say if you sell things you get noticed, but also just tweeting to them and asking for verification seems to work really well too.

If you have any questions let me know and I’ll see if I can help.

Part 2 of this post can be found here.

If this was helpful and you want to buy one of my NFTs you can see what I have available here.

You Just Lost The Game(stop)

This is an excerpt my most recent newsletter which you should go subscribe to right now. It’s free.

Now let me just preface this next bit by clarifying that I don’t have any idea what I’m talking really. I’m not an investor and I don’t understand the stock market beyond generally that it’s there to make rich people richer and fuck over poor people. Now I must admit that my hands aren’t entirely clean in that – I do own 2 full shares of Disney stock that my mother bought for me when I turned 10 and I think they are worth exactly the same today as they were then and I have no idea how to sell them even if I wanted to cash out and buy a coffee, but that’s my disclosure. Maybe some of you are in the same boat. Besides that noteworthy asset my understanding of stocks comes entirely from watching Billions.

That said I have an ace in the hole that most people don’t have access to. My son Ripley, who turns 11 this year, is a math genius. No really, he won some kind of math contest at his school in Tokyo and everyone was really impressed. Ask anyone. So he and I were talking about what’s going on with GameStop (he’s been actively interested in the Bitcoin news) and when I tried to explain sort of what I thought was happening he corrected me and explained it better, so I thought I’d relay that here for all of your benefit.

A: Buying stock: This is basic 101 stuff that probably everyone already knows. If a stock costs $10 and you buy 10 shares for $100, then the stock goes up to $15 dollars and you sell all 10 shares for $150 bucks, you just made $50 bucks. Similarly if the stock goes down to $8 and you sell all 10 shares for $80 then you just lost $20. Easy math here.

B: Shorting stock: This one always confused the fuck out of me but I think I have a handle on it now. If you think a stock is going to go down relatively quickly buying it would be a bad idea due to the reasons we just discussed in (A). BUT! There’s a way to bet against the stock, which is called shorting it. The way that works is this: Let’s say Jack owns stock in a company called Hills Inc and Jill thinks that Hills Inc is about to fall down and break it’s crown, so to speak. So what Jill does is “borrow” shares from Jack when they cost $10, then she waits some agreed upon time for the stock price to drop, buys them back at a lower price and returns them to Jack keeping the profit. So – using the same math as above, if the stock cost $10 when Jill “borrowed” 10 shares from Jack and sold it at that price she then has $100 in hand, and over the next few days it drops to $5, so she buys 10 shares back for $50 and then returns those 10 shares to Jack, keeping the extra $50 profit for herself. Jill successfully shorted the stock.

Now the trick is, that’s assuming it goes the way Jill wants it to. If instead the price climbs, Jill is in trouble. So, if she borrows 10 shares at $10 and sells them for $100, but over the following days the stock price doesn’t drop but instead rises, Jill still has to return 10 shares to Jack. So if the stock price rose to $12, Jill has to spend $120 to buy those same 10 shares, which ends up causing her to lose $20 in the deal.

Basically shorting a stock is a way to make money off a stock you don’t even own by betting against it. That said, in order to short a stock, you have to have some collateral being held incase things don’t go your way. Which is important for this next part.

Keep reading over on my newsletter archives, or better yet subscribe and have these emailed directly to you in the future!

Social Distancing Werewolf

Preface: One of our long standing traditions at Shuttleworth Foundation gatherings is several late nights playing Werewolf – not especially unique but massively fun and wonderful for the camaraderie of the group. With travel and in-person events on hold due to current events we transitioned to online sessions for the event, but struggled with the loss of the social accompaniments. As self appointed God of Werewolf for the group, I took it upon myself to find a way to make this work with players in different physical locations. I found a number of people have also tried this, but their instructions were convoluted and obnoxious, so we hacked them apart and tried something new and it worked great, so I thought I’d share how that worked so that someone else can find these instructions and decide they suck and then write their own.

Caveats: If you are reading this I’m going to assume you already know how to play Werewolf so I’m not going to get into the weeds on that. I will say that when I moderate (aka, play God) I prefer the basic standard roles – werewolves, villagers, a doctor and a seer. I find that keeping it simple allows for maximum enjoyment for players and spectators, if you prefer adding what my friend Harper eloquently refers to as Micky Mouse roles, then this method might not work for you.

Also: This method uses Slack and Zoom, because we already use Slack and Zoom so I can attest this works with Slack and Zoom. If you use some other video conference & team communication platforms this may or may not work for you – you’ll just have to figure it out.

tl;dr

  • Everyone turn OFF cameras and MUTE microphones.
  • Roles will be assigned via SLACK messaging by God.
  • God will set up a group private on SLACK with all werewolves.
  • God will communicate with DOCTOR and SEER individually via Slack
  • Game begins: Everyone turn ON your camera, but remain MUTED.
  • God explains how this shit works… Daytime!
  • Villagers UNMUTE and commence ye old chit chat.
  • Nighttime: Turn OFF cameras and MUTE microphones.
  • God interacts with individual people via Slack, the group via Zoom.
  • Daytime: Turn ON cameras and UNMUTE microphones.
  • If you are killed, turn OFF your camera and MUTE your microphone, leave them off until the round is finished.
  • Wolves: If you are killed DO NOT CHAT in the private group. You can watch the discussion, but you are dead so do not fucking chime in.
  • DEAD people can chat in a #werewolf channel on Slack
  • The round ends when one of the following things happens:
    • Werewolves out number villages – WEREWOLVES WIN!
    • The last werewolf is killed by the villagers – VILLAGERS WIN!

More details: Set up

God (aka the Moderator) needs to be the host on Zoom. This allows absolute control and the ability to mute, kill, remove etc anyone at any time for any reason and that’s an important power to wield over the cowering masses you’ve roped into playing this game for your own amusement.

In Zoom, use GRID view and have all players begin with their cameras turned off and microphones muted. At the start only God should be seen and heard.

God should have a piece of paper handy and write down all the players and assign each one of the roles. Then, via Slack direct messaging tell each player their role. I can not stress this enough: DO NOT use the messaging in Zoom. It’s way too easy to accidentally send a message to the wrong person, way too complicated to switch between people and generally a pain in the ass. Using a separate application that handles that better is the way to go. Also on slack you should have a #werewolf channel where everyone who isn’t playing or who has just been killed can hang out. You should also create Direct Message group with only the werewolves which is where they will discuss who to kill each night.

Let’s go!

Once God has assigned roles and set up the private chat for the wolves, the game can begin. God should remind everyone how the game works and then instruct everyone to turn on their cameras and microphones. Daytime in the village!

I don’t recommend villagers are made to kill anyone on the first day, instead it’s a good time to drum up fear and panic about the horrible death and suffering that people have heard about happening in nearby villages.

Nighttime in the village! All players turn off their cameras and mute microphones. This ensures no meta-gaming resulting from someone peeking or saying they thought they heard someone typing when God asked the wolves who they wanted to kill.

God should keep camera and microphone on, and ask wolves, doctor and seer questions through Zoom – but they should respond on Slack.

Once it’s clear who didn’t survive the night, God can announce who is dead, and instruct everyone EXCEPT that person to turn back on their cameras and microphones. Dead people can keep watching and chatting in Slack, but under no circumstances should they turn back on their camera or microphone for the remainder of that game.

Rounds can last as long as God feels like, with full license to end a day if the village gets too boring. God is free to kill anyone at any time for any reason. If at any point the Werewolves out number villages then the Werewolves will win. Alternatively, if and when the last werewolf is killed by the villagers then the villagers win.

We tried this, it worked wonderfully. Give it a shot, adjust anything you want to, and stay vigilant.

Party Mode

Bradenton, Florida. A shit-hole ghetto town about an hour south of Tampa. I think it was the summer of 1990. I remember it being really, really hot. I was in high school and my friend Chris suggested starting a band. He played guitar already and told me I should get a bass. I took that week’s paycheck from the grocery store I worked at and went to a local used music equipment shop and asked what that could get me, I bought whatever it was they suggested. In my memory it was a sunburst Fender but I honestly can’t remember. I didn’t know I needed an amplifier for it to work, and had trouble figuring out how to play it at home. The following week we got together in another friends garage for “band practice” which was a serious lesson in humility. I showed up without an amp, but luckily (or unluckily) someone there had a guitar amp I could plug into. This was the first time I’d ever heard what the bass even sounded like.

Chris proposed that we start off playing “New Direction.” I didn’t know what he was talking about. Chris pointed out that I was wearing a Gorilla Biscuits t-shirt at the time, New Direction of course was the first song on their recently released album Start Today. I didn’t actually have the album yet, I had a dubbed cassette copy that my neighbor Max had made for me which I listened to all the time – so once Chris started playing it I knew what he was talking about, but Max hadn’t written the names of any of the songs so didn’t know what any of them were called. Max would later sell me his blue and white swirled vinyl copy of that album, which has remained one of my prized possessions even to this day. Anyway, I knew the song but I had no idea how to play it, given that I had no idea how to play bass. I stood there in the garage all afternoon while my friends jammed one song after another that I knew but I had no idea how to play. That was the only band practice I ever went to, and I wasn’t ever invited to be any of their bands ever again, rightly so.

I kept that bass and every once and a while I’d pick it up and hope I’d magically learned how to play something. I never did. When I’d fantasize about being in a band I always pictured myself singing, so just never got motivated enough to try and learn it. Besides, my favorite band in town at the time, Tired From Now On, already had a bass player and a singer and I wasn’t going to even try to start a Tired From Now On copycat band. I think I sold it to my friend from Canada Kyle for $50 when one of his bands was passing through Gainesville a few years later. At least I’d spray painted it black so it looked much cooler than that crappy sunburst. I wonder if he still has it?

A few years later when I was working at Victory Records my co-worker Chuck told me he wanted to start a band and asked if I’d be interested in singing. Of course I said yes, instantly. He said he was getting the rest of the band together and we’d have a proper rehearsal in a few weeks. At that time I was often the last person to leave the office, which was in a 3 story condo in an industrial part of Chicago. My office was on the 3rd floor, and when everyone else would leave I’d often turn up my stereo as loud as it would go and jump around screaming along like an idiot to the loudest, angriest thing I had. It was excellent therapy. I highly recommend everyone try it sometime. My private karaoke included many bands, but vocalist Tim Singer’s bands – No Escape, Deadguy and the recently released (at the time) Kiss It Goodbye were in heavy rotation. I guess I always kind of related to his “I tried, but everything is fucked anyway” lyrical narrative. In my mind, that’s how I’d sing in a band.

Eventually Chuck would rope in the rest of a band and we’d all get together one evening after work in the basement of Bulldog Records, Victory’s record store in Wicker Park where bands like Blood For Blood and Murphy’s Law had recently played some already legendary shows. Drums set up, amps plugged in and blasting. I knew enough lyrics to enough songs that I figured there wouldn’t be a repeat of the New Direction situation and I was ready to go with whatever song they pulled out of the hardcore repertoire. Except the songs they’d written themselves and had already been practicing that I’d never heard before. Chuck handed me the mic and said “let’s go!” and I just stood there. I didn’t know what to sing, or what to say. I’d never written lyrics before, and certainly hadn’t anticipated doing it on the spot. I’d been daydreaming about doing this for years, and now when given the chance I froze. I convinced myself that anything I’d come up with would be so stupid the band would stop playing and I’d be laughed out of the basement. Of course, just standing there like an idiot had a similar effect. 

Decades later I of course recognize how letting my insecurity keep me from doing the thing I was dreaming of doing, when I directly had the opportunity to do it, was just about the stupidest thing I could have ever done. I’m not really big on regret, we all do things that if given another chance we might do differently or applying hindsight realize our errors, but pushing past that fear and doing actually band with my friends sometime in the 90’s when I had countless opportunities is something that I’d totally should have done. If life had do overs, that’s where I’d use mine.

I mention this because totally out of the blue this week there’s a new EP out by Tim’s new band Bitter Branches and it’s incredible. It’s the last thing I was expecting in 2020, and after listening to it on repeat essentially since buying it I can attest it’s exactly what I needed. If anything I’ve mentioned in this sounds familiar to you, maybe it’s what you need as well. If nothing else, it’s a good reminder to take the chances we have, when we have them. They won’t always be there and even trying and failing is way better than not trying at all.