Kwoff

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This evening I caught up for a chat and a couple of beers with Dan Walsh, the technologist behind the scenes of the Australian social news site Kwoff.

For those not familiar with social news sites, the idea is that users submit links to interesting news articles (or blog posts, funny photos, videos or anything else that tickles their fancy) and then other users can vote for the stories they enjoyed reading. The most popular stories then float to the top where they are easily found by visitors to the site. This is a classic example of the Web 2.0 technique of crowd-sourcing.

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Update on Sydney Petrol Prices

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A little while ago I wrote about the relationship between crude oil prices and the price Sydney motorists are paying for petrol at the pump. The Australian Automobile Association (AAA) has now released their price data for June and, not surprisingly, prices continued to track moves implied by rising crude oil prices. The simple regression model suggested that average prices would be up 8 cents/litre. The AAA data shows a rise of 10 cents/litre in the average Sydney price.

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Spam and Social Networks

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Social networks have been growing at an extraordinary rate over the last couple of years. The big contest has been between Facebook and MySpace and recently Facebook was reported to have caught up with its older rival. These two social networking giants aim to be walled gardens where users can chat, exchange photos, share music, take quizzes and (more bizarrely) turn each other into virtual vampires.

A more minimalist approach is the microblog. Twitter pioneered the idea of the microblog, asking its users the question “what are you doing”, a question to be answered in 140 characters or less. You are also able to “follow” other twitter users, tracking their posts (or “tweets”) and they may choose to follow you back. Twitter has been growing rapidly over the last year (see chart below) and recently exceeded two million registered users and countless other sites are now following hot on their heels, including jaiku, pownce, identi.ca and kwippy.

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The Garnaut Report and “Tit-for-Tat”

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For those outside Australia, the Garnaut Climate Change Review is our equivalent of the Stern Review and last week a draft report was released. In this report, a nation’s decision as to how to act in the face of climate change is compared to the prisoner’s dilemma:

Effective international action is necessary if the risks of dangerous climate change are to be held to acceptable levels, but deeply problematic. International cooperation is essential for a solution to a global problem. However, such a solution requires the resolution of a genuine prisoners’ dilemma. Each country benefits from a national point of view if it does less of the mitigation itself, and others do more. If all countries act on this basis, without forethought and cooperation, there will be no resolution of the dilemma.

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The Gradual Demise of the Compact Disc

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The Australian Recording Industry Association (ARIA), after taking a look at sales for the first half of 2008, has run crying poor to the Herald Sun. While they have not yet released these figures to the public, they presumably continue the trend evident in published figures for 2006 and 2007.

Australian Music Sales

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The Axe Falls at Moody’s

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A month ago, I blogged about news of a bug in a Moody’s structured credit ratings model. The story was originally broken by the Financial Times and now they are reporting that Moody’s is sacking their global head of structured finance, Noel Kirnon. Moody’s have also taken the unusual step of sending a letter to all of their customers outlining the findings of an independent review conducted by the law firm Sullivan & Cromwell. Also this review concluded that employees of Moody’s did not change their rating methodology to hide the model error, a suggestion made in the original Financial Times reports, it was concluded that a monitoring committee “engaged in conduct contrary to Moody’s Code of Professional Conduct”.

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The Price of Carbon for Petrol

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Commenting on my petrol prices post, Mark Lauer suggested that excise on petrol should in fact be increased to deal with negative externalities:

Personally I think we should be increasing the excise. It represents the many negative externalities that car use in our society creates: carbon emissions, use of space for (larger) roads; materials, construction and maintenance of (larger) roads; particulate pollution; deaths and injuries from road accidents, and so on, all of which scale with mileage and hence fuel use. And our understanding of all these factors is moving in the direction of increased disutility. Hence the charges should be increased.

I’ve been thinking about petrol and carbon emissions a bit over the last few weeks, so this is as good a prompt as any to put down my thoughts here on the Mule. I should also point out that I have Mark to thank for the back of the envelope calculation that I’ll discuss here.

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Sydney Petrol Prices

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Soaring petrol prices have led to all sorts of calls for action to help reduce prices. The Opposition called for a 5 cents per litre reduction in the excise on petrol, which currently stands at 38.1 cents per litre. (See note below for an explanation of the strike-throughs). the abolition of the double taxation of petrol by eliminating Goods and Services Tax (GST) on petrol excise. Since the excise is currently 38.1 cents per litre, this would save 3.8 cents per litre. One Victorian Liberal MP, Chris Pearce, went further and called for a 10 cent reduction in petrol excise. The Rudd Government initially claimed that there was nothing more that they could do, but then buckled to the pressure and has proposed the introduction of a national FuelWatch scheme aimed at promoting price transparency at the bowser. The Minister for Competition Policy & Consumer Affairs, Chris Bowen, has indicated that this scheme is expected to save around 2 cents per litre. So, what is going on with petrol prices and what are the merits of these proposals?

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CityRail’s 14 Day RailPass

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On my way into the station this morning, I was handed a brochure about CityRail’s new 14 Day RailPass. A bargain at exactly twice the price of a weekly pass, I suspect that it is, in fact, a cunning plan to prise more fare evasion fines from me. Thanks to public holidays, interstate trips and the like, my weekly ticket buying cycle tends to wander through the week and, since there are no ticket barriers at Newtown station, it’s all too easy for me to breeze straight down onto the platform only to be trapped at Wynyard without a valid ticket. The station attendants will always let me through to buy a ticket, but the railway police (if that’s what they are called) are another matter. Take it from me, no amount of waving expired weekly tickets will get you out of the $200 fine. Even writing pitiful letters doesn’t help. Now I’m sure that CityRail is wise to my forgetfulness and realise that if I can forget that I’m supposed to buy a new ticket on Tuesday morning, how much more likely will I be to forget to buy one every second Tuesday?

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OpenAustralia

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Parliament FlagLast Monday the public beta of OpenAustralia.org was launched. The site, closely modelled on the UK’s TheyWorkForYou.com, aims to make the workings of Australia’s democracy more transparent.

Transcripts of parliamentary proceedings (Hansard) have been available on line for some time, but OpenAustralia takes the same content and gives it a Web 2.0 work-over. Searching is far easier than on the parliamentary website. You can enter your postcode, find your local member and then search for particular words or phrases in her speech (in my case Tanya Plibersek) and you can even subscribe to an email alert which lets you know whenever she says something in parliament. You are also able to post comments on individual speeches. This feature provides a intriguing forum for community debate of political issues without the filter of media decisions as to what is or is not newsworthy. I will be very interested to see how these discussions evolve.

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