Legacy admissions, the Russian Ruble and Final Fantasy XVI

Podcast Summary

• Supreme Court ruling on race in admissions, Wagner rebellion's effect on ruble, major video game release: The Supreme Court banned race consideration in admissions, the Wagner rebellion weakened the ruble, and a major video game release could disrupt the industry

  The Supreme Court's recent decision in an affirmative action case has ruled that schools can no longer consider a student's race as part of their admissions process, marking a significant change in educational policies. This indicator comes from Adrienne Ma on NPR's Indicators of the Week. Another indicator discussed was the impact of the Wagner rebellion on the Russian ruble, which Adriane will cover. Lastly, they will be joined by a special guest to talk about a major video game release this year and its implications for the billion-dollar video game industry. In other news, the BBC provides information and inspiration through their world stories, and Fundrise is expanding its real estate portfolio with discounted assets due to high interest rates. Integrative Therapeutics offers clinician curated supplements on Amazon for those looking to unlock their best selves. Stay tuned for more insights on these and other indicators.

• Impact of Legacy Preferences in College Admissions: Legacy preferences in college admissions disproportionately favor wealthy and white applicants, raising concerns about equity and fairness.

  The debate surrounding college admissions and merit often overlooks the impact of legacy preferences. Merit, in the context of admissions, is a loaded term, and historically, admissions have not been a pure meritocracy. Critics argue that practices like legacy preferences skew university education towards the wealthy and favor applicants who are white. A study on Harvard admissions revealed that legacy applicants were about 6 times more likely to be admitted compared to non-legacy applicants. This disparity raises concerns about equity and fairness in the admissions process. Despite the Supreme Court's recent decision, attention on this issue is likely to increase.

• Russia's Ruble Volatility: Economic Sanctions vs Instability: Economic sanctions and instability in Russia are contributing to the ruble's volatility. While sanctions have had an impact, recent instability in Russia, including the Wagner group's march on Moscow, is the primary driver.

  The value of the Russian ruble has been highly volatile in recent months, reaching a 15-month low against the US dollar this week. This is due in part to economic sanctions imposed by the US and other nations following Russia's invasion of Ukraine last year. However, the ruble's quick recovery from those sanctions in the summer of 2022 showed that Russia has been effective at insulating itself from the global economy. More recently, the ruble's instability can be attributed to the Wagner group's march on Moscow and the Kremlin's response. While sanctions continue to have an impact, investors believe that instability in Russia is the primary driver of the ruble's volatility. President Biden has also announced plans to review legacy admissions in response to the Supreme Court's decision, but it's unclear what impact this will have.

• Russian economy facing internal challenges, not external pressures: Political instability within Russia impacting ruble more than external pressures, groundbreaking gaming releases driving sales in 2023

  The Russian economy is facing more internal challenges than external pressures, despite ongoing sanctions. The political instability within Russia is having a greater impact on the ruble than any external pressure from countries like the US. Meanwhile, in the world of gaming, 2023 has proven to be a groundbreaking year with the release of highly anticipated and successful titles like Final Fantasy 16 and The Legend of Zelda: Tears of the Kingdom. These games have sold millions of copies in their first few days, making them some of the most successful in their respective franchises' histories. Developers are focusing on perfecting their games before release, leading to a surge in high-quality titles this year. Despite the negative reviews some games receive, the trend of releasing well-polished sequels to beloved franchises continues to drive sales.

• The Impact of Video Games on Media and Culture: The video game industry is a major player in media and culture, generating billions in revenue and influencing entertainment through blockbuster movies and prestigious series.

  The video game industry is a massive business with billions of dollars in annual revenue, and it's only continuing to grow. With blockbuster movies like the Super Mario Brothers adaptation making over $1.3 billion at the box office, and prestigious series like HBO's The Last of Us closely following the source material, it's clear that gaming culture is permeating every aspect of media. Companies like Nintendo and Sony are multinational empires looking to expand their reach even further. Whether you're a gamer or not, it's impossible to ignore the impact of video games on our culture. Moreover, the discussion also touched upon the potential impact of the Supreme Court's ruling on affirmative action. For those interested, an episode on California's ban on affirmative action in the 90s and its consequences can be found in the show notes. Lastly, James shared his personal experience of being deeply engrossed in the world of Final Fantasy 16 while reporting on it, highlighting the dedication and passion required for journalism. In conclusion, the video game industry is a powerful force in media and culture, with massive financial success and a growing influence on the entertainment landscape.

• Luxury mattresses at affordable prices from Saatva: Saatva offers high-end mattresses by cutting out middleman costs and providing them online

  Saatva luxury mattresses offer high-end quality at affordable prices due to their online sales model. During our discussion, we learned that Saatva mattresses are comparable in elegance and comfort to more expensive brands. However, by cutting out the middleman costs associated with physical retail stores, Saatva is able to offer these top-tier products at about half the price. If you're in the market for a new mattress, it's definitely worth considering Saatva. Their commitment to quality and customer satisfaction is evident in their product offerings and excellent reviews. Plus, by visiting their website, saatva.com/npr, you can enjoy an additional savings of $200. So, don't let the misconception that luxury comes with a hefty price tag hold you back – give Saatva a try and experience the best of both worlds.