The Linden Lab Banking Ban and the World Markets

Back on January 8th, Linden Lab announced their ban on unregulated in world banking. This brought about many discussions. How big an impact would this have? Some people think banks are extraneous to Second Life. Others view them as an important part of capital creation.

My initial reaction was that it was a ill thought out reaction by Linden Lab that would have both a short term and a longer term negative impact on the Second Life economy.

Today is when the ban is supposed to take effect, and I must admit, I’ve been shocked by the reaction. The Federal Reserve Bank has reduced Fed Funds rate by 75 basis points. That is the largest single cut in interest rates since 1984, long before Second Life even existed.

Even with this intervention by the Federal Reserve Bank, the Dow Industrials dropped 465 before climbing back. Meanwhile, the markets in Second Life appeared stable today.

Mark Pera fundraiser in Second Life

This evening there will be the first political fundraiser that I know of taking place in Second Life. Details can be found in Blue Revolution’s diary on DailyKos. While the fundraiser will take place in Second Life, they are not going to have a tip jar, convert the Linden dollars and try to deal with all those issues. Instead, people are being encouraged to donate via the Second Life Democrats for Mark Pera page on ActBlue.

I would love to see these sort of events flourish as a means of drawing donors together for a fun virtual get together for those times when people can’t meet face to face. Other progressive Second Life events can be found in a different Second Life diary that has gone up today.

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Martin Luther King, Jr Day 2008

This morning, Kim, Fiona and I went up to a Martin Luther King, Jr. day breakfast in Hartford sponsored by The Collins Foundation. The breakfast was a celebration of Martin Luther King, Jr.’s life as well as an opportunity for people to continue on Dr. King’s legacy. Money raised from the breakfast went to provide scholarships for worthy young men and women from Hartford and Bridgeport.

Many political notables attended the event to hear Attorney General Richard Blumenthal, Secretary of State Susan Bysiewicz and Congressman John Larson address the gathering. As the speeches went on, Fiona found a quiet corner to play in, during which time, she managed to lose another tooth.

Colin McEnroe was there as well. I’m not sure if it stimulated the curmudgeon in him, but today he posted this Not Nice MLK Day Thought. He asks, “Is there a worse place in America at nurturing black political talent than Connecticut?” I’ll carefully duck that question and simply note that the scholarships offered by the Collins Foundation as well as the efforts to get students from UConn Law School to mentor some of the recipients gives me hope that perhaps things are changing in Connecticut.

I look forward to see what next year’s Martin Luther Kind Jr, Day breakfast is like to get a better gauge on the progress.

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Playing with the MyBlogLog API

So, the initial glitches in getting me going with the MyBlogLog API have been resolved and I started kicking the tires with it. My initial efforts were to see who I have friended in MyBlogLog, and then checking to see if I am their friend on other Social Networks they’ve identified themselves as being part of.

Arms of an avatar

“I need some distraction, oh beautiful release… In the arms of an Angel, fly away from here”
- Sarah McLachlan, Arms Of An Angel

I spend a lot of my time in Second Life camping to make a Linden dollars here and there and exploring the Second Life capital markets. Linden Lab’s recent ban on banking has cut into the amount of Linden dollars that I have as spending money, but it doesn’t particularly bother me. I haven’t spent any US dollars to buy Linden dollars, so everything I’ve gotten and lost has been produced in Second Life.

Sure, I still have the hair and skin of a Noob and simply rent a small shop in Second life, but that meets my needs. I want to have experiences to shape my views of the evolution of internet technology, business and marketing online and have a little fun. I don’t need the fanciest objects to do that.

Yesterday, I went to the fundraiser for Africa in Second Life. I didn’t have a lot to give, but gave all that I could. Then, I did what I am good at, spreading the word. I wrote about it here. I talked about it on various groups I was on and got others to spread the word. Then I sat down and listened to some of the music.

A few new friends showed up, people that I’ve been meeting through my business reporting, and we settled down to listen to the music. One performer sang Sarah McLachlan’s “Arms of An Angel”. One of my new friends turned to me and commented about painful memories that she has carried from Africa for thirty years. The setting, a fundraiser for Africa, in a beautiful sim, with a live performer singing a song about beautiful distractions dredged up these memories. We talked a little bit. Did my words help? I don’t know, but I hope so.

Later, I was invited to a pajama party in Second Life. Every month Bevan Whitfield organizes some sort of gathering for business associates and friends and last night she organized a pajama party. Since I don’t have a lot of Linden dollars, I still have default skin and hair, and a paucity of clothes. I had no pajamas or anything else appropriate to wear for a pajama party, so I stood around awkwardly chit chatting for a while.

Then, I remembered a different avatar I had. A month ago, I was given one of Nimbus Rau’s cat avatars at An Art Show. Perhaps being a cat at a pajama party would be fun.

I quickly got into my role, worrying about being stepped on and tripping up people left and right. Some of the folks at the party were old friends. Others were people I hadn’t met before. I played the role and tripped up everyone equally. It was a fun evening as I escaped people trying to catch the cat and throw it in the pool, or do other unspeakable horrors to it. I did worry about if the cat was being too obnoxious, but everyone seemed to have fun. The protestations about the cat where in the general chat and not in backchannel IMs to me.

As the party wound down, and I wandered off, I did get one IM that caught me by surprise. One of the people I did not know there thanked me for tripping her up so much. She had had a day that sounded a lot tougher than really bad days that many people I know have from time to time. The playful distraction after the bad day was exactly what she had needed.

I spend my time thinking about the relationship between what is real and what is virtual in Second Life. Mostly, it is in terms of money and businesses. Yet the evening was a reminder of something else. The real lives of the people behind the avatars. There are good people in Second Life, struggling with their own memories, with efforts to help people in Africa or in other struggles. We can make real connections with these other people, and hopefully help them as they help us or help others.

Sarah McLachlan’s words came back to me. “I need some distraction, oh beautiful release.” Second Life can be a distraction, a beautiful release, and sometimes when the angels seem a little too far away, we can fly away in the arms of an avatar.

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