The common criticism with NFT art is that it's just a JPEG image. So why bother "owning" it when you can just right-click, save as? Who in their right mind would spend thousands, let alone hundreds of thousands on such a thing?

But as I've argued before, this is missing the bigger picture and missing what this new technology has the potential to empower. Take for example, the new Bored & Hungry restaurant that opened up in Long Beach, California this past weekend (with lines down the block).

It is being dubbed the world's first Bored Ape Yacht Club restaurant, and here's the backstory. Andy Nguyen is a successful food entrepreneur in southern California. And last month he spent US$267,000 on Bored Ape #6184 (yes, a JPEG).

After doing this, he took to Twitter and asked: "Worst decision I've ever made or best idea of all time?" Of course, he clearly had a new business idea in mind.

Fast forward to today and he now has a pop-up restaurant concept that is branded with his Bored Ape. And because the Bored Ape IP is very permissive, he is perfectly within his rights to do this. He can create whatever business he wants on the shoulders of his NFT, as can others with theirs.

His restaurant is also accepting the new ApeCoin that is part of this NFT community, and if you yourself have a Bored Ape, you qualify for perks like free food. All you have to do is scan your crypto wallet. Digital asset ownership = real-life something.

This to me is just one small example of the kind of new businesses that crypto and other digital assets might unlock. And I am sure that it's the tip of the iceberg.

Most of us have felt the effects of supply chain disruption during this pandemic. When we were building Mackay Laneway House this past winter, it was right when lumber prices were peaking. We had no choice but to just absorb the cost premiums and move forward with the job. On bigger projects with longer construction schedules, I know that a lot of us are trying to time what they can with the expectation that things will eventually sort themselves out.

When things are working as they should, this is the sort of thing that you can take for granted. But now you really need to consider lead times and cost premiums. I was reading this morning that the average number of wait days from anchorage to berth in a port in Los Angeles is now 13 days. What that means is that vessels are sitting out in the water, on average, for almost 2 weeks waiting a spot. This costs money.

As of last week, this translated into 79 container ships sitting in front of Los Angeles and Long Beach waiting to berth (see above chart). If you do the math, which Freight Waves tried to do over here, you get to a value of somewhere around $26 billion worth of stuff sitting out in the water. As I understand it, a big part of the problem is a lack of trucks and drivers to pick up the cargo once these ships have berthed. So you can run the ports 24/7, but you still have a bottleneck.

Logistics clearly matter.

Chart: American Shipper with data from Marine Exchange of Southern California, via Freight Waves

Sunset by liu han-lin on 500px

https://500px.com/embed.js

Last year The Congress for the New Urbanism (CNU), which is based out of Chicago, published a report called, The 2014 Freeways Without Futures. It listed the top 10 freeways across North America that are in need of removal, replacement, and revitalization. You can download the full PDF report by clicking here.

Here’s an introductory snippet from the report:

The 2014 Freeways Without Futures Report lists the top opportunities in North America for replacing aging urban highways with boulevards or avenues that connect to the networks of streets. They are presented in no particular order of rank. As in previous reports, the criteria for the 2014 list is based on a number of factors: the age and design of structures, redevelopment potential, potential cost savings, ability to improve both overall mobility and local access, existence of pending infrastructure decisions, and community support.

And here’s the list of freeways without a future:

1.  I-10/Claiborne Overpass, New Orleans
   

2.  I-81, Syracuse, New York
   

3.  Gardiner Expressway, Toronto
   

4.  Route 5/Skyway, Buffalo
   

5.  Inner Loop, Rochester New York
   

6.  I-70, St. Louis
   

7.  I-280, San Francisco
   

8.  I-375, Detroit
   

9.  Terminal Island Freeway, Long Beach
   

10.  Aetna Viaduct, Hartford
    

Not surprisingly, the Gardiner Expressway is on the list. CNU is in agreement with the “remove” option currently being contemplated by Toronto City Council and will be doing their part to support the Gardiner East petition that Stephen and I created. Thank you for that :)