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Japan Today
3 days ago
- Business
- Japan Today
A nostalgic look back at the half-decade when Japan was No. 1, sort of
In 2023, Japan's nominal GDP (gross domestic product) dropped one notch, to fourth place in the world, as Germany moved up to occupy the third slot. Japan's GDP had exceeded Germany's for nearly half a century up to then. "The figures have been influenced to some degree by the yen-dollar exchange rate," points out history researcher Ban Atobe, "But considering that Germany's population (and working population in particular) is two-thirds that of Japan's, the drop has serious implications." "Japan's nominal GDP had been surpassed by China in 2010. While this should not be surprising considering China's population is about 10 times greater than Japan's. And Japan still leads China on a per capita basis. But the drop overall from third to fourth place can be seen as indicative of the country's economic decline," is how Atobe sees it. The news wasn't always bad, however. "The members of Gen Z might not be aware of it," says Atobe, "but there was a time when Japan's economic power led the world." He's not exaggerating. In 1987, Japan's per capita GDP reached $21,248, surpassing the $20,001 of the U.S. by a significant margin. "What would have been no more than a pipe dream by the heroic mid-19th century figures who brought feudal Japan into the modern era became a reality," Atobe observed. In terms of the value of their common shares, around 30 companies out of the world's top 50 were Japanese, with Japan's NTT holding the top position. The Nikkei-Dow average reached 38,915 yen -- with the total value of shares roughly 15 times that of Wall Street's. By one metric, the assessed property values of the 23 central wards of Tokyo were said to have surpassed that of the entire continental United States. There was even talk of Sony acquiring Apple Computer. "I wish we'd done it," a former Sony executive was quoted as saying. During the 1970s through the 1980s, an obscure Kyoto-based company named Nintendo emerged from nowhere to dominate the game market. By 2016 its Pocket Monsters had eclipsed Disney's Mickey Mouse and ranked world's first, with revenues of $92.1 billion. Remember the 1985 hit film "Back to the Future"? There's a scene in which time traveler Michael J Fox tells people back in 1955, "All the good stuff comes from Japan now." The "good stuff" Fox was referring to included items like Casio wristwatches, Aiwa personal stereo players and JVC video camcorders. Then there was the Honda Civic, whose lean-burn engine easily met the tough new emissions standards while U.S. manufacturers were still struggling. Japan also impacted significantly on the world's diet. Along with sweet, sour, salty and bitter, Japanese discovered a fifth flavor category called umami (savoriness). Described as a brothy or meaty quality, it adds depth and complexity to flavors. The Ajinomoto Group, which pioneered monosodium glutamate seasoning that imparts umami, now operates subsidies around the world. Then there's Nissin's cup noodles, which have taken the world by storm. In February 1972, shortly after its introduction, TV viewers watched news coverage of the siege of the Asama-Sanso, a violent weeklong hostage stand-off between the riot police and armed student radicals at a villa in Karuizawa, Nagano Prefecture. While the contents of boxed meals froze in Karuizawa's subzero outdoor temperatures, the policemen on site could be seen consuming hot meals thanks to the Nissin noodles. Not long afterwards, the noodles were dispensed from vending machines, which also supplied boiling water. They appealed in particular to the youth market and were sold packaged with plastic forks instead of chopsticks. "It became fashionable for guys to be seen eating walkaway noodles," entertainer LaSalle Ishii recalls. Unfortunately, Shukan Taishu notes, the myopic trend of paying short shrift to academia and science continues, with the House of Representatives on May 9 passing a bill that will privatize the Science Council of Japan. Will the sun, Shukan Taishu wonders, ever rise again? Let's keep hoping that the Japanese people, who achieved a miraculous recovery from the ashes of war, will once again demonstrate their latent strengths. © Japan Today
Yahoo
23-05-2025
- Business
- Yahoo
OpenAI to acquire AI device startup io for $6.5bn
AI company OpenAI has announced plans to acquire io, an AI device startup co-founded by former Apple design chief Jony Ive, in an all-stock deal valued at nearly $6.5bn, Bloomberg reported. The acquisition, said to be the largest in OpenAI's history, will establish a dedicated unit within the company focused on developing AI-powered devices. Io was founded by Ive alongside Scott Cannon, Evans Hankey, and Tang Tan. The acquisition secures the expertise of Ive and his team, known for their work on the iPod, MacBook, iPad, and Apple Watch. In a blog post, OpenAI CEO Sam Altman said: 'AI is an incredible technology, but great tools require work at the intersection of technology, design, and understanding people and the world. No one can do this like Jony and his team; the amount of care they put into every aspect of the process is extraordinary.' He added: 'What it means to use technology can change in a profound way. I hope we can bring some of the delight, wonder and creative spirit that I first felt using an Apple Computer 30 years ago.' Ive left Apple in 2019 after shaping the modern smartphone and other landmark products. At the time of his departure, Apple CEO Tim Cook suggested the two would continue to collaborate, though no joint products materialised. Ive said: 'I have a growing sense that everything I have learned over the last 30 years has led me to this moment. 'While I am both anxious and excited about the responsibility of the substantial work ahead, I am so grateful for the opportunity to be part of such an important collaboration. The values and vision of Sam and the teams at OpenAI and io are a rare inspiration.' The acquisition includes $5bn in OpenAI equity for io, with the remaining value tied to a partnership formed in the fourth quarter of last year, when OpenAI acquired a 23% stake in the startup. OpenAI's startup fund also invested in io during that period. The latest deal, subject to regulatory approval, is expected to close this summer. The takeover will bring approximately 55 hardware engineers, software developers, and manufacturing experts to OpenAI. Ive and Altman, who have been exploring device concepts for two years, aim to create a family of innovative AI-driven products, with the first products from this collaboration expected to launch next year. Earlier in May 2025, OpenAI and Microsoft engaged in negotiations to redefine their multibillion-dollar partnership. "OpenAI to acquire AI device startup io for $6.5bn" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Chicago Tribune
01-04-2025
- Entertainment
- Chicago Tribune
Today in History: Netherlands becomes the first country to legalize same-sex marriage
Today is Tuesday, April 1, the 91st day of 2025. There are 274 days left in the year. This is April Fool's Day. Today in history: On April 1, 2001, the Netherlands became the first country in the world to legalize same-sex marriage. Also on this date: In 1924, Adolf Hitler was sentenced to five years in prison for his role in the Beer Hall Putsch in Munich. (Hitler would serve just nine months of the sentence, during which time he completed the first volume of 'Mein Kampf.') In 1945, American forces launched the amphibious invasion of Okinawa during World War II. (U.S. forces succeeded in capturing the Japanese island on June 22 after a battle in which more than 240,000 died, including as many as 150,000 Okinawan civilians.) In 1946, a magnitude 8.6 earthquake centered near Alaska's Aleutian Islands triggered a tsunami that pounded the Hawaiian Islands with waves up to 55 feet (17 meters) tall, killing 159. In 1970, President Richard M. Nixon signed a measure banning cigarette advertising on radio and television beginning in January 1971. In 1976, Apple Computer was founded by Steve Jobs, Steve Wozniak and Ronald Wayne. In 1984, singer Marvin Gaye was shot and killed by his father after Gaye intervened in an argument between his parents at their home. In 2003, American troops raided a hospital in Nasiriyah, Iraq, and rescued Army Pfc. Jessica Lynch, who had been held prisoner since her unit was ambushed on March 23.
Boston Globe
01-04-2025
- General
- Boston Globe
Today in History: April 1, US forces invade Okinawa during World War II
In 1924, Adolf Hitler was sentenced to five years in prison for his role in the Beer Hall Putsch in Munich. (Hitler would serve just nine months of the sentence, during which time he completed the first volume of 'Mein Kampf.') Advertisement In 1945, American forces launched the amphibious invasion of Okinawa during World War II. (US forces succeeded in capturing the Japanese island on June 22, after a battle in which more than 240,000 died, including as many as 150,000 Okinawan civilians.) In 1946, a magnitude 8.6 earthquake centered near Alaska's Aleutian Islands triggered a tsunami that pounded the Hawaiian Islands with waves up to 55 feet tall, killing 159. Advertisement In 1970, President Nixon signed a measure banning cigarette advertising on radio and television beginning in January 1971. In 1976, Apple Computer was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne. In 1984, singer Marvin Gaye was shot and killed by his father after Gaye intervened in an argument between his parents at their home. In 1997, dubbed the 'April Fool's storm,' a powerful system dropped more than two feet of snow in Boston and as much as three feet in other parts of the state. In 2001, the Netherlands became the first country in the world to legalize same-sex marriage. In 2003, American troops raided a hospital in Nasiriyah, Iraq, and rescued Army Private First Class Jessica Lynch, who had been held prisoner since her unit was ambushed on March 23.
Yahoo
12-02-2025
- Business
- Yahoo
A Steve Jobs–signed business card is up for auction and the price has already hit $75,000
A business card signed by Steve Jobs is up for auction and already fetching high bids. A similar card, last year, sold for over $181,000. Steve Jobs didn't much care for signing autographs, so anything with his signature is a hot commodity among the Apple faithful. An upcoming auction could underscore just how much that signature is worth. RR Auctions has put a business card signed by Jobs up for auction, and it's already attracting staggering bids. A total of 13 have been submitted so far, and the price, as of Wednesday morning, has already hit $75,000. And the bidding won't conclude for another eight days. To top that bid, you'll need to commit to an extra $7,500. And expect that to be topped before long: A similar Jobs-signed business card sold last year for just over $181,000. The card has been certified as authentic and given a perfect grade (despite having staple holes in the corner, which don't affect the autograph). To date, there are fewer than five Jobs-signed Apple Computer business cards that have been authenticated. Jobs passed away in 2011 at the age of 56. The cult of personality surrounding him, which was almost impenetrable when he was alive, has continued after his death. In 2023, a check signed by Jobs set a then record. That check, written in 1976, was originally worth $13.86, paid to Elmar Electronics. It sold for $176,850. The check predated the official founding of Apple Computer. It was likely used to purchase electronic components that were used in the construction of the first Apple-1 prototypes. Because the company did not yet officially exist, Jobs wrote 'Apple Computer' as well as the address of his Palo Alto garage in the top left corner. This story was originally featured on
