Dear MEL Topic Readers,
The golden years of Paparazzi have almost
gone
Paparazzi are freelance photographers who
take photos of famous or popular people. They could be movie stars, TV hosts,
politicians, or any other celebrities whose events or gossips are worth public
attention. Paparazzi try to take photos of a private or secretive moment of high-profile
people and sell them to media outlets that focus on tabloids and gossip
magazines.
Their income is far from steady. You can
imagine the chances to get sellable scenes at the right moment. They need a
network of informants to tell them if there is a celebrity with someone or in
somewhere that he or she doesn’t want to be known. Even if they get photos of
such a private moment, the photos may not be priced as much as the time and
effort. There is idiosyncratic risk, or inherent risk involved in investing in
a specific asset – such as a stock.
Also, their business as a whole fluctuates from time
to time, and it is actually in decline. While fewer people are now buying
tabloids at newsstands, more sensational photos and videos are being posted
online, free of charge. It is systematic risk, like stock market crashes and affects
almost everyone onboard.
Are paparazzi the only ones that suffer such business
risk? Aren’t robotics, IoT and AI changing the landscape of job opportunities
and creations?
Enjoy reading the article and learn about two
kinds of risks that could affect any type of jobs.
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