The newly identified low frequency elasticity of mesoscopic liquids opens the route to the identification of novel dynamic liquid properties. Two experimental examples illustrating the impact of the liquid elasticity in optics and thermodynamics are presented. It is revealed that at mesoscopic scale, liquids are able to convert the mechanical energy in optical and thermal effects. The fluids are submitted to a low frequency (∼Hz) mechanical shear strain (external stress), thus excluding a coupling with molecular time scales. The dynamic response is probed using two in situ methods accessing in real time optical response of the isotropic phase of liquid crystals and probing the thermal response upon shear deformation. In both cases, a dynamic response is identified: the isotropic phase of liquid crystals exhibits a low frequency dynamic birefringence while ordinary liquids exhibit cold and hot thermal waves synchronous to the low frequency excitation.