Stanford spent years cataloging items such as photos of a barefoot Mr. Jobs at work, advertising campaigns and an Apple II computer. That material can be reviewed by students and researchers interested in learning more about the company.

Silicon Valley leaders have a tradition of leaving their material with Stanford, which has collections of letters, slides and notes from William Hewlett, who founded Hewlett-Packard, and Andy Grove, the former chief executive of Intel.

Mr. Lowood said that he uses the Silicon Valley archives to teach students about the value of discovery. “Unlike a book, which is the gospel and all true, a mix of materials in a box introduces uncertainty,” he said.

After Mr. Jobs’ death in 2011, Mr. Isaacson, the author, published a biography of Mr. Jobs. Some at Apple complained that the book, a best seller, misrepresented Mr. Jobs and commercialized his death.

Mr. Isaacson declined to comment about those complaints.

Four years later, the book became the basis for a film. The 2015 movie, written by Aaron Sorkin and starring Michael Fassbender, focused on Mr. Jobs being ousted from Apple and denying paternity of his eldest daughter.

according to emails made public after a hack of Sony Pictures, which held rights to the film. She and others who were close to Mr. Jobs thought any movie based on the book would be inaccurate.

“I was outraged, and he was my friend,” said Mike Slade, a marketing executive who worked as an adviser to Mr. Jobs from 1998 to 2004. “I can’t imagine how outraged Laurene was.”

In November 2015, a month after the movie’s release, Ms. Powell Jobs had representatives register the Steve Jobs Archive as a limited liability company in Delaware and California. She later hired the documentary filmmaker, Davis Guggenheim, to gather oral histories about Mr. Jobs from former colleagues and friends. She also hired Ms. Berlin, who was Stanford’s project historian for its Apple archives, to be the Jobs Archive’s executive director.

Mr. Guggenheim gathered material about Mr. Jobs while also working on a Netflix documentary about Bill Gates, “Inside Bill’s Brain.” Mr. Slade, who worked for both Mr. Jobs and Mr. Gates, said he sat for an interview about one executive, stopped to change shirts and returned to discuss the other one.

Ms. Berlin assisted Ms. Powell Jobs in gathering material. They collected items such as audio of interviews done by reporters and early company records, including a 1976 document that Mr. Jobs and Steve Wozniak, Apple’s co-founder, called their declaration of independence. It outlined what the company would stand for, said Regis McKenna, who unearthed the document in his personal collection gathered during his decades as a pioneer of Silicon Valley marketing and adviser to Mr. Jobs.

Ms. Powell Jobs also assembled a group of advisers to inform what the archive would be, including Tim Cook, Apple’s chief executive; Jony Ive, Apple’s former chief design officer; and Bob Iger, the former chief executive of Walt Disney and a former Apple board member.

Mr. Cook, Mr. Ive and Mr. Iger declined to comment.

Apple, which has its own corporate archive and archivist, is a contributor to the Jobs effort, said Ms. Berlin, who declined to say how she works with the company to gain access to material left by Mr. Jobs.

The archive’s resulting website opens with an email that Mr. Jobs sent himself at Apple. It reads like a journal entry, outlining all the things that he depends on others to provide, from the food he eats to the music he enjoys.

“I love and admire my species, living and dead, and am totally dependent on them for my life and well being,” he wrote.

The email is followed by a previously undisclosed audio clip from a 1984 interview that Mr. Jobs did with Michael Moritz, the journalist turned venture capitalist at Sequoia. During it, Mr. Jobs says that refinement comes from mistakes, a platitude that captures how Apple used trial and error to develop devices.

“It was just lying in the drawer gathering dust,” Mr. Moritz said of the recording.

It’s clear to those who have contributed material that the archive is about safeguarding Mr. Jobs’s legacy. It’s a goal that many of them support.

“There’s so much distortion about who Steve was,” Mr. McKenna said. “There needed to be something more factual.”

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More Americans Filed Unemployment Claims Last Week

By Associated Press

and Newsy Staff
September 22, 2022

First time applications for jobless aid — which generally reflect layoffs — rose by 5,000 to 213,000 last week, the Labor Department reported.

The number of Americans filing for jobless benefits rose slightly last week with the Federal Reserve pushing hard to cool the economy and tamp down inflation.

Applications for unemployment benefits for the week ending Sept. 17 rose by 5,000 to 213,000, the Labor Department reported Thursday. Last week’s number was revised down by 5,000 to 208,000, the lowest figure since May.

First-time applications generally reflect layoffs.

The four-week average for claims, which evens out some of the weekly volatility, fell by 6,000 to 216,750.

On Wednesday, the Federal Reserve raised its benchmark short-term borrowing rate by another three-quarters of a point in an effort to bring down persistent, decades-high inflation. Though gas prices have steadily retreated since summer, prices for food and other essentials remain elevated enough that the Fed has indicated it will keep raising its benchmark interest rate until prices come back down to normal levels.

Fed officials have pointed to the remarkably resilient U.S. labor market as added justification for raising rates five times this year, including three 75-basis point hikes in a row.

The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3% to 3.25%, the highest level since early 2008. The officials also forecast that they will further raise their benchmark rate to roughly 4.4% by year’s end, a full point higher than they had envisioned as recently as June.

Fed Chair Jerome Powell said that before Fed officials would consider halting their rate hikes, they want to be confident that inflation is retreating to their 2% target. He noted that the strength of the job market is fueling pay gains that are helping drive up inflation.

He emphasized his belief that curbing inflation is vital to ensuring the long-term health of the job market.

Earlier this month, the Labor Department reported that employers added still-strong 315,000 jobs in August, though less than the average 487,000 a month over the past year. The unemployment rate ticked up to 3.7%, largely because hundreds of thousands of people returned to the job market. Some didn’t find work right away, so the government’s count of unemployed people rose.

The U.S. economy has been a mixed bag this year, with economic growth declining in the first half of 2022. Investors and economist worry that the Fed’s aggressive rate hikes could force companies to cut jobs and tip the economy into a recession.

Online real estate companies RedFin and Compass recently announced job cuts as rising interest rates have cooled the housing market. The National Association of Realtors reported Wednesday that sales of existing homes fell again in August, the seventh straight monthly decline.

Other high-profile layoffs announced in recent months include The Gap, Tesla, Netflix, Carvana and Coinbase.

Additional reporting by The Associated Press.

Source: newsy.com

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TV Shows And Movies Are Contributing To Youth Sex Education

Sex has always been portrayed in TV, movies and shows, but it’s changed over time to educate people about sex.

In a time when sex education varies between different states and local school districts, TV shows and films are filling in the gaps for some teens and young adults.  

In 2018, a Healthline survey of more than 1,000 Americans found that only 33% of people between the ages of 18 and 29 reported having some form of sex education in school.   

And a 2020 study from the Journal of LGBT Youth found that a majority of gay and lesbian college students “expressed that their formal sex education was lacking and that they sought out or received information from other informal sources to supplement their learning.” 

Those informal resources included internet forums, popular films, music and TV shows.

When it comes to television, teen dramas like the long-running series “Degrassi” has been paving the way.  

Since 1987, when “Degrassi Junior High” first debuted, the franchise about students at a Canadian junior high and high school has highlighted the issues of teen pregnancy, abortion, STDs and sexual assault. In 1992, the U.S. Department of Education even developed a sex education curriculum that used episodes of “Degrassi” as starting points for classroom discussion. 

“Degrassi” now spans five different series across three generations of viewers and represents teens and families of various cultures, as well as varying sexual and gender identities. Its newest iteration is slated to debut on HBO Max in 2023.  

As “Degrassi” served almost like the blueprint for sex education in teen dramas, a series for older viewers, ABC’s “How To Get Away With Murder,” made history with its own advocacy for safe sexual health within the LGBTQ community.  

The series centers on a group of law school students and their professor. And in 2018, it became the first network primetime series to highlight pre-exposure prophylaxis, more commonly known as “PrEP,” a medication that reduces the risk of spreading HIV.  

The series’ discussion of PrEP, as well as the representation of a character living with HIV, was praised by organizations like GLAAD and Greater Than AIDS for the way it educated audiences without stigmatizing the issue.  

“How To Get Away With Murder” ended in 2020, but sex education in TV has continued.  

Today’s teen dramas like Netflix’s new “Heartbreak High” or the critically acclaimed and aptly named “Sex Education” are poking fun at the limitations of real-life sex education in schools, while advocating for honest and informative conversations about sex, consent, body positivity and healthy relationships. 

“Sex Education” tells the story of the son of a sex therapist who gives relationship advice to his peers. Both critics and health experts have praised the show for its informative humor and nuance about the realities of sex. The fourth and final season of the series is expected to be released next year. 

Source: newsy.com

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Fewer Americans Filed Unemployment Claims Again Last Week

By Associated Press
September 15, 2022

First-time applications for jobless aid fell by 5,000 to 213,000 last week, the Labor Department reported.

The number of Americans applying for unemployment benefits fell again last week to a four-month low even as the Federal Reserve continues its aggressive interest rate cuts to bring inflation under control.

Applications for jobless aid for the week ending Sept. 10 fell by 5,000 to 213,000, the Labor Department reported Thursday. That’s the fewest since late May.

First-time applications generally reflect layoffs.

The four-week average for claims, which offsets some of the weekly volatility, fell by 8,000 to 224,000.

The number of Americans collecting traditional unemployment benefits inched up by 2,000 for the week that ended Sept. 3, to 1.4 million.

Hiring in the U.S. in 2022 has been remarkably strong even in the midst of rising interest rates and weak economic growth. The Federal Reserve has aggressively raised interest rates in an effort to bring down inflation, which generally also slows job growth.

Earlier this month, the Labor Department reported that employers added still-strong 315,000 jobs in August, though less than the average 487,000 a month over the past year. The unemployment rate ticked up to 3.7%, its highest level since February, but for a healthy reason: Hundreds of thousands of people returned to the job market, and some didn’t find work right away, so the government’s count of unemployed people rose.

The U.S. economy has been a mixed bag this year. Economic growth has declined in the first half of 2022, which, by some informal definitions, signals a recession.

But businesses remain desperate to find workers, posting more than 11 million job openings in July, meaning there are almost two job vacancies for every unemployed American.

Inflation continues to be the biggest obstacle for a healthy U.S. economy. The rise in consumer prices slowed modestly the past couple months, largely due to falling gas prices. But overall, prices for food and other essentials remain elevated enough that the Federal Reserve has indicated it will keep raising its benchmark interest rate until prices come back down to normal levels.

Most economists expect the Fed to raise its benchmark borrowing rate by three-quarters of a point when it meets next week.

The Fed has already raised its short-term interest rate four times this year and Chairman Jerome Powell has said that the central bank will likely need to keep interest rates high enough to slow the economy “for some time” in order to tame the worst inflation in 40 years. Powell has acknowledged the increases will hurt U.S. households and businesses, but also said the pain would be worse if inflation remained at current levels.

Some of that so-called pain has already begun, particularly in the housing and technology sectors. Online real estate companies RedFin and Compass recently announced job cuts as rising interest rates have tripped up the housing market.

Other high-profile layoffs announced in recent months include Tesla, Netflix, Carvana, and Coinbase.

Additional reporting by The Associated Press.

Source: newsy.com

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How Hollywood Captured The Life, Legacy Of Queen Elizabeth II

From film to TV, Queen Elizabeth II has been the subject of an array of Hollywood projects and actor’s lives.

As the world mourns Queen Elizabeth II, few outside her family will have such an intimate reflection on her life as the women who have put themselves in her shoes.

These are women who swam in the queen’s psyche for their portrayals in award-winning films and television series.

Olivia Colman, who played the queen in the latest installments of Netflix’s “The Crown,” has said Queen Elizabeth had a lasting impact on her world view.

“She’s extraordinary,” Colman said of the queen to The New York Times. “She’s changed my views on everything.”

From her early days as a post-war monarch, the queen has been portrayed as a stoic, devoted constitutionalist, abstaining from public debate and devoted to the stability of her country’s government.

Her consistency in the face of crisis, from the beginning of her reign to the end, was a source of inspiration for Claire Foy, who told the Los Angeles Times in 2016 she was struck by the queen’s grit after the death of her father — the very death that propelled her to the throne in 1952. It’s a complicated grief all too relevant to the new king.

“The one person who could tell you how to do the job is dead,” Foy told the paper. “…And everyone is looking to you to know what to do, and you’re terrified. But she just keeps calm and carries on, and that’s it, really. That’s the story of her life.”

It was that same consistency that captivated Helen Mirren as she prepared for her role in “The Queen.” The Oscar winner’s portrayal of Elizabeth won praise for both the actor and the woman she portrayed. Mirren later described herself as not a royalist, but a “queenist.”

On social media Thursday, the actress said, “We mourn a woman, who, with or without the crown, was the epitome of nobility.”

It was one of tons of loving tributes to the woman who helmed a complicated, controversial institution that enraptured Hollywood for 70 years.

Source: newsy.com

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Stocks Drift Mostly Lower On Wall Street, Extending Losses

By Associated Press
September 6, 2022

The S&P 500 and Dow Jones Industrial Average were down 0.3% in afternoon trading on Tuesday, while the Nasdaq fell 0.4%.

Stocks drifted mostly lower on Wall Street, extending the market’s losses into a holiday-shortened week.

The S&P 500 fell 0.3% as of 12:28 p.m. Eastern. It has bounced between a gain of 0.5% and a loss of 1% throughout the day and is coming off its third losing week in a row. Markets in the U.S. were closed on Monday for the Labor Day holiday.

The Dow Jones Industrial Average fell 99 points, or 0.3%, to 31,218 and the Nasdaq fell 0.4%.

Health care stocks were among the biggest gainers. Eli Lilly rose 2.4%. Communication stocks fell broadly and tempered gains elsewhere in the market. Netflix slipped 3.5%.

Bed Bath & Beyond fell 16.6% following the death of its chief financial officer. The company has been suffering from a prolonged sales slump and executive turnover.

The company that wants to take Trump Media public, Digital World Acquisition, plunged 14.7% following reports it didn’t receive enough shareholder support for an extension to close the deal.

ADT jumped 13.5% after State Farm said it was taking a 15% stake in the home security company.

Markets have been slipping in recent weeks and shedding much of the gains made in July and early August as inflation remains hot and the Federal Reserve stays on track to continue raising interest rates to try and tame stubbornly persistent high prices. The big concern is that the Fed might go too far in raising rates and slam the brakes too hard on an already slowing economy, potentially causing a recession.

Wall Street has been closely watching economic data for clues that inflation might be easing, which traders hope will give the Fed a reason to ease up on rate hikes. The Fed has already raised interest rates four times this year and is expected to raise short-term rates by another 0.75 percentage points at its next meeting later this month, according to CME Group.

In recent weeks, the market has wiped out much of the gains it made in July and early August as traders worried that the Fed would not let up anytime soon on raising interest rates to bring down the highest inflation in decades. The Fed has made clear that it intends to keep raising interest rates until it is sure that inflation is easing.

Bond yields rose. The yield on the 10-year Treasury, which influences interest rates on mortgages and other loans, rose to 3.34% from 3.19% late Thursday. The two-year Treasury yield, which tends to track expectations for Fed action, rose to 3.51% from 3.39%.

Markets in Asia were mostly higher. The Shanghai Composite Index rose 1.4% after China promised Monday to accelerate easier lending and other policies to shore up economic growth that sank to 2.5% over a year earlier in the first half of 2022, less than half the official annual target.

European markets were mostly lower.

Additional reporting by The Associated Press.

Source: newsy.com

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‘The Rings Of Power’ Cast Discuss Hopes For The New Amazon Adaptation

Amazon invested $1 billion in its new “Lord of the Rings” adaptation, “The Rings of Power,” and its cast hopes it’ll bring longtime and new viewers.

“The Rings of Power” is the biggest gamble in TV and streaming history.

With a $1 billion investment from Amazon, the series based on the lore of J.R.R. Tolkien’s “Lord of the Rings” series hopes to welcome both longtime fans and new viewers to Middle Earth.

“The beautiful thing about our show is that it’s a healthy balance of old and new,” said Nazanin Boniadi, who plays Bronwyn in “The Rings of Power.”

“It’s going to turn a whole new viewership on to Tolkien,” said Benjamin Walker, who plays the High King Gil-galad in “The Rings of Power.”

“It’ll spark up new forums, new conversations,” said Owain Arther, who plays Prince Durin IV in “The Rings of Power.”

The series is set thousands of years before the stories of “The Hobbit” and “The Lord of the Rings,” which have grossed more than $1.8 billion as a film franchise since the release of the 1978 animated movie.

The story’s foray into television will include five seasons, with the first season having eight episodes.

“I think the beauty of TV is that you have that intimate bond with the audience,” Boniadi said.

“We get to luxuriate in the worlds,” Walker said. “We get to be fully immersed in each little kingdom and each little fantastical world.”

But beyond its artistic ambitions, Amazon’s investments into “The Rings of Power” are part of the company’s strategy for streaming dominance.

While the platform found critical success with its superhero drama “The Boys” and its period comedy “The Marvelous Mrs. Maisel,” Amazon is still competing against the larger libraries of prestige programming from Netflix, Disney+ and HBO Max.

Its biggest competitor in the fantasy world is most notably HBO Max’s “Game of Thrones” spinoff “House of the Dragon,” which garnered a record-breaking 10 million viewers when it debuted in August.

“The Rings of Power” premiered Sept. 1, and the first season will conclude on Oct. 14.

Source: newsy.com

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Streaming Is Changing How Companies Make Money, For Better Or Worse

By Newsy Staff
September 1, 2022

Streaming companies are prioritizing how to get and keep subscribers, but the risk in producing new or buying old shows is much higher.

Over the summer, Nielsen reported that streaming viewership surpassed cable usage for the first time in the U.S. It’s worth noting Nielsen only records on TVs and internet-connected TVs; it’s not even measuring mobile or desktop, which means their share of the market is probably even higher.

This new landscape is changing the ways streamers are trying to make money, for better or worse.

As more and more people are signing up for streaming platforms like Netflix, HBO Max or Disney+, companies are starting to roll out new ad-supported models.

In the past, one of Netflix’s co-chief executives repeatedly stated how there was “no advertising coming onto Netflix — period.” But after a huge loss of subscribers and a difficult quarter, that same executive told investors Netflix is looking into ad models “over the next year or two.”

Netflix’s woes aren’t exactly good news for its competitors that raced to make streaming platforms of their own. The news highlights a wider conversation about how these massive platforms are actually making money and how stable the new streaming model really is.

That model first includes original content.

Big blockbuster hits like “Stranger Things” on Netflix or “Wandavision” on Disney+ can definitely draw new subscribers, but it seems the threshold for a new show to survive is pretty high. Even popular shows like “The OA,” “Sense8” or “The Baby-Sitters Club” can get canceled after only a season or two. Netflix is particularly notorious for this.

Unlike with cable, streaming services are prioritizing how many new subscribers a show can bring in, not just how popular a show is within the existing subscribers. Netflix has also stated it focused on the first 28 days of release to see how many viewers began the show and how many finished a season within a month. 

Compare that to a show like “The Office.” Today, it’s one of the most popular modern sitcoms, but it was at risk of cancellation due to poor ratings on NBC for its first two seasons.

There’s a reason the risk of hoping a show will grow and build an audience is much higher for streaming than it used to be for cable. Part of that is because platforms now pay production companies all production fees up front, in exchange for more control over distributing the show. So, there are much bigger losses if a show doesn’t take off. Unfortunately, as it’s been widely reported, shows with diverse stars and casts seem to be on the chopping block more often.

But while streaming services churn out original shows hoping for a breakout hit, the real competition is actually in the battle over old shows and movies that already come with fanbases.

Sky Moore, an entertainment lawyer, explained why.

“Streamers: the winner is whoever has the most content,” Moore said. “So what is happening is consolidation. Everybody is attempting to be the last man standing. There’s only probably going to be four players when the party is over in a couple of years, and whoever has the most content wins.”

This explains the jaw-dropping amounts some platforms have paid for old sitcoms like “Friends,” “Seinfeld” and “The Office,” or for intellectual property like Amazon’s record-breaking purchase of rights to “Lord of the Rings” source material.

When networks used to buy syndication rights to a show, the number was based on available ad and viewership data for that network. In the subscriber model, it’s actually unclear what these numbers are really based on.

All that is clear is that these huge purchases and mergers show how important it is to consolidate big libraries. Companies are betting massive libraries stocked with old favorites are what will keep subscribers around, and it’s part of the reason why even more mergers and buyouts between big entertainment companies are likely.

“If you look on a broad scale of entertainment, which is really who they’re competing against, it’s no longer, for example, the studios,” Moore said. “It’s studios against streamers, and broadly, it’s studios and streamers against Facebook and against YouTube and against Instagram. It’s a much broader universe of entertainment than it used to be, so they’ve got to consolidate.”

Source: newsy.com

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‘Love Is Blind’ Contestant Suing Show For Restricting ‘Basic Needs’

Jeremy Hartwell said basic human needs like sleep, water and food were restricted while on the show. Netflix said the claims have no merit.

When it comes to reality TV, audiences have come to expect on-screen drama and scandal. But behind the scenes, the harsh realities faced by at least one former contestant have led to a major lawsuit.

Jeremy Hartwell was a contestant on season two of Netflix’s “Love Is Blind,” a dating show where contestants “date” within isolation rooms — never seeing the person they’re talking with. 

Hartwell said he was prepared to be isolated from the world and that his phone would be taken away, but he says contestants lacked basic necessities on-set, including functioning taps for water.  

“Basic human needs: sleep, water, food, even the ability to use the bathroom were seemingly restricted,” Hartwell said. “We didn’t have free will to be able to go and do these things whenever we wanted. After a week, I was down seven pounds.”

He said one thing contestants always had access to was alcohol.

“You don’t necessarily consciously realize that it’s an unhealthy environment when you’re in the middle of it,” Hartwell said. “It’s also very exciting. It’s all brand new. It’s like this big party. I didn’t fully realize how harmful and toxic that environment was until after I got back.”

Hartwell is now suing Netflix, as well as the production company Kinetic Content and the casting company Delirium TV for “inhumane working conditions” and labor-law violations.

He also accuses them of inadequately paying contestants for their work: $1,000 for a whole week of 20-hour days. If a contestant left during production, Hartwell said they were obligated to pay a penalty of $50,000.

“It was this massive mismatch between what we expected and what we were told versus how we were actually treated,” Hartwell said.

The companies Kinetic Content and Delirium TV said in a statement: “There is absolutely no merit to Mr. Hartwell’s allegations, and we will vigorously defend against his claims.”

Netflix has not commented on the allegations, but Hartwell says his lawsuit has been supported by other reality TV contestants.

“What’s been really gratifying is people from all other shows and other seasons have actively been reaching out to me once the story broke in the news,” Hartwell said.

Outside of “Love is Blind,” other reality TV shows have faced similar criticisms. “America’s Next Top Model” reportedly paid models only $40 a day, and “Bachelor in Paradise” added on-set alcohol limitations after investigating an accusation of sexual assault.

“How do we protect cast members?” Hartwell asked. “How do we ensure what they expect, and how do we ensure that if they want to leave, they’re able to leave?” 

Hartwell wants the industry to add more safety measures and oversight on-set. By speaking out, he hopes audiences learn more about the realities of reality TV.

Source: newsy.com

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Mickey Mantle Baseball Card Breaks Record As Sports Memorabilia Soar

The Mantle baseball card dates from 1952 and is widely regarded as one of just a handful of the baseball legend in near-perfect condition.

A mint condition Mickey Mantle baseball card sold for $12.6 million Sunday, blasting into the record books as the most ever paid for sports memorabilia in a market that has grown exponentially more lucrative in recent years.

The rare Mantle card eclipsed the record just posted a few months ago — $9.3 million for the jersey worn by Diego Maradona when he scored the contentious “Hand of God” goal in soccer’s 1986 World Cup.

It easily surpassed the $7.25 million for a century-old Honus Wagner baseball card recently sold in a private sale.

And just last month, the heavyweight boxing belt reclaimed by Muhammad Ali during 1974’s “Rumble in the Jungle” sold for nearly $6.2 million.

All are part of a booming market for sports collectibles.

Prices have risen not just for the rarest items, but also for pieces that might have been collecting dust in garages and attics. Many of those items make it onto consumer auction sites like eBay, while others are put up for bidding by auction houses.

Because of its near-perfect condition and its legendary subject, the Mantle card was destined to be a top seller, said Chris Ivy, the director of sports auctions at Heritage Auctions, which ran the bidding.

Some saw collectibles as a hedge against inflation over the past couple years, he said, while others rekindled childhood passions.

Ivy said savvy investors saw inflation coming down the road — as it has. As a result, sports memorabilia became an alternative to traditional Wall Street investments or real estate — particularly among members of Generation X and older millennials.

“There’s only so much Netflix and ‘Tiger King’ people could watch (during the pandemic). So, you know, they were getting back into hobbies, and clearly sports collecting was a part of that,” said Ivy, who noted an uptick in calls among potential sellers.

Add to that interest from wealthy overseas collectors and you have a confluence of factors that made sports collectibles especially attractive, Ivy said.

“We’ve kind of started seeing some growth and some rise in the prices that led to some media coverage. And I think it all it all just kind of built upon itself,” he said. “I would say the beginning of the pandemic really added gasoline to that fire.”

Before the pandemic, the sports memorabilia market was estimated at more than $5.4 billion, according to a 2018 Forbes interview with David Yoken, the founder of Collectable.com.

By 2021, that market had grown to $26 billion, according to the research firm Market Decipher, which predicts the market will grow astronomically to $227 billion within a decade — partly fueled by the rise of so-called NFTs, or non-fungible tokens, which are digital collectibles with unique data-encrypted fingerprints.

Sports cards have been especially in demand, as people spent more time at home and an opportunity arose to rummage through potential treasure troves of childhood memories, including old comic books and small stacks of bubble gum cards featuring marquee sports stars.

That lure of making money on something that might be sitting in one’s childhood basement has been irresistible, according to Stephen Fishler, founder of ComicConnect, who has watched the growing rise — and profitability — of collectibles being traded across auction houses.

“In a nutshell, the world of modern sports cards has been going bonkers,” he said.

The Mantle baseball card dates from 1952 and is widely regarded as one of just a handful of the baseball legend in near-perfect condition.

The auction netted a handsome profit for Anthony Giordano, a New Jersey waste management entrepreneur who bought it for $50,000 at a New York City show in 1991.

“As soon as it hit 10 million I just turned in. I couldn’t keep my eyes open anymore,” Giordano, 75, said Sunday morning. His sons monitored the auction for him. “They stayed up and called me this morning bright and early to tell me that it reached where it reached.”

The card was one of dozens of sports collectibles up for auction. In all, the items raked in some $28 million, according to Derek Grady, the executive vice president of sports auctions for Heritage Auctions.

“Sports collectibles are finally getting their due as an investment,” Grady said. “The best sports items are now starting to rival artwork, rare coins and rare artifacts as a great investment vehicle.”

The switch-hitting Mantle was a Triple Crown winner in 1956, a three-time American League MVP and a seven-time World Series champion. The Hall of Famer died in 1995.

“Some people might say it’s just a baseball card. Who cares? It’s just a Picasso. It’s just a Rembrandt to other people. It’s a thing of art for some people,” said John Holden, a professor in sports management law at Oklahoma State and amateur sports card collector.

Like pieces of art that have no intrinsic value, he said, when it comes to sports cards, the worth is in the eye of the beholder — or the pocketbook of the potential bidder.

“The value,” Holden said, “is whatever the market’s willing to support.”

Additional reporting by The Associated Press.

Source: newsy.com

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