You can take happy snaps, but not record your feelings with a smartphone or camera. (Marco Ugarte / AP)
You can take happy snaps, but not record your feelings with a smartphone or camera. (Marco Ugarte / AP)

In the digital age, every parent is now a filmmaker



When the school year ends, students around the globe take to the stage for a curtain call. This theatrical metaphor is appropriate as the end of the academic year often takes the form of a show. Let me tell you about one such performance I recently attended: the year one farewell assembly at my daughter’s school in Abu Dhabi.

The moment it began, parents became paparazzi. Almost the entire audience held smart phones or tablets aloft. There were even a few mums and dads wielding high-end digital cameras. These determined parents were indefatigable in their attempts to capture the perfect moment.

It was almost impossible to get a clear view of the stage. Then, in an act of mutually assured obstruction, frustrated parents began standing up to get a better vantage point. All this achieved, however, was to shift the problem from seated to standing. Ultimately, tempers frayed and mini altercations erupted.

When act one ended, I anticipated raucous applause. The audience response, however, was fairly subdued. I blame our current camera culture: it’s hard to clap when one hand is filming.

Those parents most determined to get good footage began leaving their seats. Watching the stampede, I had a moment of clarity and asked myself: are we actually losing out by being so concerned with capturing events? I call this the photographer’s paradox. In our rush to capture the event, we miss out on the experience.

I know I’m not alone in my increasingly negative appraisal of the ever present digital camera.

Dr Linda Henkel, a cognitive psychologist at Fairfield University, Connecticut, describes a similar phenomenon she calls “photo-taking impairment effect”. In a recent article published in Psychological Science, Dr Henkel describes an experiment where one group of students are asked to photograph exhibits at the Bellarmine Museum of Art, while another group simply browse the exhibits, eyes-only. When tested the following day, the eyes-only group were far better at recognising objects from the museum’s exhibit. Dr Henkel suggests that when we photograph objects it is often a rather mindless activity, and consequently the memory doesn’t hold.

The digital camera – in its multitude of forms – is probably the most widely consumed fruit of our, still relatively recent, digital revolution. But we can’t blame the technology, it is neutral. It’s how we choose to use, overuse or abuse it that gives rise to problems. We were promised tomorrow’s technology today, and we got it.

Now, many of us use tomorrow’s technology to capture today’s events for future enjoyment. This all seems a little twisted and ultimately self-defeating to me. The average smart phone can store around 50,000 images – who has time to review that many images? Many of us now also have cloud storage, so 50,000 is a very conservative estimate.

Andy Warhol, American artist and leading figure in the pop art movement, famously prophesied that everyone would be famous for 15 minutes. He was close, but wrong.

Today, everyone is a camera- man for at least 15 minutes, as my daughter’s end-of-year school assembly revealed. We have become a society of snap-happy paparazzi photojournalist filmmakers.

The end-of-year school show, in spite of the occasional forgotten line and the odd malfunctioning microphone, was amazing. Angelic little firstgraders sang, danced and gave speeches.

When it was my little daughter’s turn, I felt myself physically swell with love and parental pride. We don’t – and never will – have a camera that can truly capture that.

Dr Justin Thomas is an associate professor of psychology at Zayed University

On Twitter: @DrJustinThomas

Company%20Profile
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

COMPANY%20PROFILE
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Company%20profile
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Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

'Nope'
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COMPANY%20PROFILE
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NYBL PROFILE

Company name: Nybl 

Date started: November 2018

Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono

Based: Dubai, UAE

Sector: Software Technology / Artificial Intelligence

Initial investment: $500,000

Funding round: Series B (raising $5m)

Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up 

Avatar%20(2009)
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Mountain%20Boy
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