65. Stock Photos

Making money in the stock image business requires a sharp eye for trends, a very specific type of model, and a race against A.I. Zachary Crockett takes his shot.

• SOURCE:
  • Yuri Arcurs, C.E.O. and founder of PeopleImages.

• RESOURCES:
  • "The Last Stock Photographers Await Their Fate Under Generative A.I.," by Katie Deighton (The Wall Street Journal, 2024).
  • "The Impressive 100-Year History of Stock Photography: From Analog to A.I.," by Ivanna Attié (Stock Photo Secrets, 2024).
  • "How Much Can You Make Selling Stock Photos? — It’s Not as Profitable as it Used to Be," by Matic Broz (Photutorial, 2024).
  • "Confessions of a Stock Photography Model," by Andrew Kimler (Vox, 2016).

How does a fresh tuna get from Japan to Nebraska before it goes bad? And how does its journey show up in the price of your spicy tuna rolls? Zachary Crockett gets schooled.

• SOURCES:
  • Sasha Issenberg, journalist and author.
  • David Utterback, owner of Yoshitomo and Ota sushi restaurants.
  • Nobu Yamanashi, president of Yama Seafood.

• RESOURCES:
  • "Wild or Farmed? Pacific or Atlantic? Here’s What to Know About Bluefin Tuna," by Jean Trinh (Los Angeles Times, 2023).
  • "The Untold Story of Sushi in America," by Daniel Fromson (The New York Times Magazine, 2021).
  • "The Intricacies of Tuna Grading," (Luke's Lobster Blog, 2020).
  • "Sushinomics: How Bluefin Tuna Became a Million-Dollar Fish," by Svati Kirsten Narula (The Atlantic, 2014).
  • The Sushi Economy: Globalization and the Making of a Modern Delicacy, by Sasha Issenberg (2007).
  • Yoshitomo.

• EXTRAS:
  • "Is the Future of Farming in the Ocean?" by Freakonomics Radio (2021).

Why do millions of people pay to have one of the world’s deadliest toxins injected into their faces? Zachary Crockett looks surprised.

• SOURCES:
  • Dana Berkowitz, sociologist and author.
  • Jean Carruthers, pioneer of cosmetic Botox, clinical professor of ophthalmology at the University of British Columbia, and owner of Carruthers Cosmetic.
  • Steven Williams, president of the American Society of Plastic Surgeons and owner of Tri Valley Plastic Surgery.

• RESOURCES:
  • "Botox Is More Affordable Than Ever. Is That A Good Thing?" by Krista Bennett DeMaio (Women's Health, 2024).
  • "Early Development History of Botox (onabotulinumtoxinA)," by Alan B. Scott, Dennis Honeychurch, and Mitchell F. Brin (Medicine, 2023).
  • "How Barely-There Botox Became the Norm," by Jessica Schiffer (The New York Times, 2021).
  • Botox Nation: Changing the Face of America, by Dana Berkowitz (2017).
  • "Billions and Billions for Botox," by Vauhini Vara (The New Yorker, 2014).
  • "Botox is Destroying Hollywood Acting," by Johann Hari (HuffPost, 2011).
  • "The Botox Boom," by David Noonan (Newsweek, 2002).

Almost everyone who buys a home spends thousands of dollars on title insurance. Most of them don’t understand it, and almost none of them use it. So why does it exist? Zachary Crockett closes the deal.

• SOURCES:
  • Christy Bieber, personal finance writer.
  • Laurie Goodman, institute fellow at the Urban Institute Housing Finance Policy Center.
  • Kathy Kwak, chief operating officer of Proper Title.

• RESOURCES:
  • "Remarks of President Joe Biden — State of the Union Address As Prepared for Delivery," (The White House Briefing Room, 2024).
  • "Fannie Mae Expands Use Of Attorney Opinion Letters (AOLs) As Title Insurance Alternatives," by Christine Stuart (National Mortgage Professional, 2023).
  • "U.S. Private Auto Insurers Break Premium, Loss Ratio Records in Q1," by Kris Elaine Figuracion and Tyler Hammel (S&P Global, 2023).

• EXTRA:
  • "'Insurance Is Sexy.' Discuss," by Freakonomics Radio (2023).

It takes fungi-sniffing dogs, back-room deals, and a guy named “The Kingpin” for the world’s most coveted morsel to end up on your plate. Zachary Crockett picks up the scent.

• SOURCES:
  • Jason McKinney, co-founder and C.E.O. of Truffle Shuffle.
  • Besart Morina, truffle dealer.

• RESOURCES:
  • "Dogs Pay the Price in Italian Truffle War," by Margherita Stancati (The Wall Street Journal, 2022).
  • "How Truffles Took Root Around the World," by Federico Kukso (Smithsonian Magazine, 2022).
  • "Has the American-Grown Truffle Finally Broken Through?" by Rowan Jacobsen (Smithsonian Magazine, 2021).
  • "Sonoma County Farm Strikes Black Truffle Gold After 9 Years of Waiting," by Jenn Harris (Los Angeles Times, 2021).
  • "In Nicolas Cage’s ‘Pig,’ How Much Is the Truffle Hog Worth Anyway?" by Victoria Petersen (The New York Times, 2021).
  • "Predicted Climate Change Will Increase the Truffle Cultivation Potential in Central Europe," by Tomáš Čejka, Miroslav Trnka, Paul J. Krusic, Ulrich Stobbe, Daniel Oliach, Tomáš Václavík, Willy Tegel, and Ulf Büntgen (Nature Scientific Reports, 2020).
  • "Inside the Exceptionally Shady World of Truffle Fraud," by Ryan Jacobs (Eater, 2019).
  • "Truffle Thieves Face Paramilitary Threat," by Kim Willsher (The Guardian, 2012).
  • "The Hidden Life of Truffles," by James M. Trappe and Andrew W. Claridge (Scientific American, 2010).
  • "Cultivation of Black Truffle to Promote Reforestation and Land-Usestability," by José Antonio Bonet, Christine R. Fischer, and Carlos Colinas (Agronomy for Sustainable Development, 2006).

Once considered noble and heroic, pigeons are now viewed as an urban nuisance — one that costs cities millions of dollars a year. Zachary Crockett tosses some crumbs.

• SOURCES:
  • Andrew Blechman, journalist and author.
  • David Champagne, owner of Bird Busters, Inc.

• RESOURCES:
  • "Racing Pigeon Sells For A Record-Breaking $1.9 Million At Auction," by Carlie Porterfield (Forbes, 2020).
  • "Feathers of Honor: U.S. Army Signal Corps Pigeon Service in World War I, 1917–1918," by Frank A. Blazich Jr. (Army History, 2020).
  • "Pigeon Wars," by Jon Mooallem (The New York Times, 2006).
  • Pigeons: The Fascinating Saga of the World's Most Revered and Reviled Bird, by Andrew Blechman (2004).
  • "Pigeons Have Magnets," by Charles Walcott, James L. Gould, and J. L. Kirschvink (Science, 1979).
  • "The Pigeon as a Quality-Control Inspector," by Thom Verhave (American Psychologist, 1966).

• EXTRAS:
  • "Freakonomics Radio Live: 'Jesus Could Have Been a Pigeon,'" by Freakonomics Radio (2018).

How do criminals turn their ill-gotten gains into taxable income? And how does law enforcement stop them? Zachary Crockett follows the money.

• SOURCES:
  • Patrick McKenzie, fraud prevention expert and strategic advisor at Stripe.
  • Kerry Myers, associate professor of instruction at the University of South Florida and former F.B.I. special agent.

• RESOURCES:
  • "National Assessments of Money Laundering Risks: Stumbling at the Start," by Joras Ferwerda and Peter Reuter (Risk Analysis, 2024).
  • "Hacker 'Washes' $25M in Stolen Crypto Through Magic: The Gathering Card Scheme," by Oliver Dale (Blockonomi, 2023).
  • "Money Spending or Money Laundering: The Fine Line between Legal and Illegal Financial Transactions," by Matthew R. Auten (Pace Law Review, 2013).
  • "HSBC to Pay $1.9bn in US Money Laundering Penalties" (BBC News, 2012).
  • "How a Big US Bank Laundered Billions From Mexico's Murderous Drug Gangs," by Ed Vulliamy (The Guardian, 2011).

• EXTRAS:
  • "Why Does One Tiny State Set the Rules for Everyone?" by Freakonomics Radio (2023).
  • "Kafkaesque," S3.E9 of Breaking Bad (2010).

Thanks to online booking platforms, the way we make reservations has changed — but a table at a hot restaurant on a Friday night is still a valuable commodity. Zachary Crockett books a four-top for 7 p.m.

• SOURCES:
  • Lisa Blount, director of marketing and public relations at Antoine’s Restaurant.
  • Adam Iscoe, writer.

• RESOURCES:
  • "Why You Can’t Get a Restaurant Reservation," by Adam Iscoe (The New Yorker, 2024).
  • "New York Passes Bill to Make the Restaurant Reservation Black Market Illegal," by Emma Orlow (Eater, 2024).
  • "When Canceling Your Reservation Costs as Much as Dinner," by T.M. Brown (The New York Times, 2024).
  • "65% Of Diners Go Directly To A Restaurant’s Website To Book A Reservation," by Tessa Zuluaga (Toast, 2024).
  • "No-Show Diners by the Numbers," by OpenTable (2021).
  • "Selling Reservations Democratizes the Dining Experience," by Tyler Cowen (The New York Times, 2015).
  • Antoine's Restaurant.

• EXTRAS:
  • "Why You Shouldn’t Open a Restaurant," by Freakonomics Radio (2018).

There are more firefighters than ever — and fewer fires for them to fight. So the job has changed. Zachary Crockett slides down the pole.

• SOURCES:
  • Joshua Hurwitz, lecturer in economics at Tufts University.
  • Eric Mackintosh, administrative battalion fire chief for San Mateo Consolidated Fire Department.
  • Steve Pegram, retired fire chief and township administrator in Ohio.

• RESOURCES:
  • "The Dire Shortage of Volunteer Firefighters in the US," by Sam Becker (BBC, 2024).
  • San Mateo Consolidated Fire Department 2023 Annual Report (2024).
  • "Essays on the Economics of U.S. Firefighting," by Joshua Hurwitz (Harvard University doctoral dissertation, 2021).
  • "Over Last 20 Years, Annual Fires in the US Declined by About 50% While Career Firefighters Increased More Than 50%?" by Mark J. Perry (AEIdeas, 2015).

• EXTRAS:
  • "Getting Old, Adventurously," by People I (Mostly) Admire (2024).

How did love stories about vampires, cowboys, and wealthy dukes become the highest-grossing fiction genre in the world? Zachary Crockett gets swept away.

• SOURCES:
  • Delaney Diamond, romance novelist.
  • Danielle Flores, high school math teacher and avid romance novel reader.
  • Brenda Hiatt, romance novelist.
  • Diane Moggy, vice president of editorial at Harlequin.

• RESOURCES:
  • "Even as Overall Book Sales Are Declining, Romance Novels Are on the Rise," by Elena Burnett, Sarah Handel, and Juana Summers (All Things Considered, 2023).
  • "Key Takeaways from the Authors Guild’s 2023 Author Income Survey," press release by the Authors Guild (2023).
  • "How Amazon Turned Everyone Into a Romance Writer (and Created an Antitrust Headache)," by Ann Kjellberg (Observer, 2022).
  • "Vivian Stephens Helped Turn Romance Writing Into a Billion-Dollar Industry. Then She Got Pushed Out," by Mimi Swartz (Texas Monthly, 2020).
  • "A Brief History of the Romance Novel," by Amanda Pagan (New York Public Library Blog, 2019).
  • "How Harlequin Became the Most Famous Name in Romance," by Kelly Faircloth (Jezebel, 2015).
  • "Fifty Shades of Amish: A Strange Genre of the Romance Novel," by Leah McGrath Goodman (Newsweek, 2015).