13th June 2024

My Friday the 13th, end-of-week morning prepare WFH reads:

F@*$#*! 2022 was a file yr for earnings name swearing: The “polycrisis” of runaway inflation, pandemics, rate of interest will increase, provide chain snafus and wars helped raise swearing on earnings calls and investor days to a brand new file excessive in 2022. Good job everybody. (Monetary Instances Alphaville)

Elon Musk Would possibly By no means Be the World’s Richest Particular person Once more: It’s not simply that he turned the primary individual in historical past to have $200 billion erased from their private fortune. At this level, the bedrock of Musk’s fortune is his 42% possession of House Exploration Applied sciences Corp., the rocket launch firm he based in 2002, earlier than he received concerned at Tesla. (Bloomberg) see additionally Buffett Profile from 1979: “The investor’s investor” “I can not promise outcomes, however I do promise this: a. Our investments shall be chosen on the premise of worth, not reputation. b. We are going to try to scale back everlasting capital loss to a minimal.” (Neckar’s Minds and Markets)

RIP meme shares. You have been horrible investments: In contrast to different bubbles, meme-stock mania didn’t actually assist anybody, together with corporations like Mattress Tub & Past and GameStop. (Quick Firm)

• What banning noncompetes might imply for the US workforce: Lina Khan’s FTC desires to alter how we take into consideration anti-competitive conduct. (Vox)

Sergey Brin’s $100B Non-public Fiefdom: Bayshore, the household workplace on the middle of Sergey Brin’s ongoing divorce, is a sprawling $100 billion entity with pursuits as disparate as Parkinson’s analysis, catastrophe aid, and superyacht administration. Its actual central curiosity, although, has been Sergey’s privateness—till now. (Puck)

Social Quitting: As I kind these phrases, a mass exodus is underway from Twitter and Fb. After a long time of eye-popping progress, these social media websites are contracting at an alarming charge. (Locus) see additionally Is Substack the way forward for media? Elon Musk’s wreck of Twitter has been a boon for the e-newsletter platform, which is reshaping the marketplace for the written phrase. (New Statesman)

Meet essentially the most highly effective Uber driver in India: Shaik Salauddin: the Indian driver-turned-union chief who’s brushing shoulders with high politicians and giving ride-hailing companies a run for his or her cash. (Relaxation Of World)

Widening Highways Doesn’t Repair Site visitors. So Why Do We Maintain Doing It? With billions of {dollars} out there to enhance transportation infrastructure, states have an opportunity to strive new methods for addressing congestion. However some habits are arduous to interrupt. (New York Instances)

Life Classes from 1,000 Years: I requested various 90-year-olds a easy query: “In the event you might communicate to your 32-year-old self, what recommendation would you give?” In whole, there was over 1,000 years of lived expertise captured. The responses have been…unimaginable. They vary from enjoyable, playful, and witty to deeply shifting. I’d encourage you to learn via them together with your family members and replicate on people who hit you the toughest. (Curiosity Chronicle)

Neutrinos from a Close by Galaxy Reveal Black Gap Secrets and techniques: The IceCube observatory has detected neutrinos from an lively galaxy for the primary time, revealing clues about how supermassive black holes gobble matter (Scientific American)

Remember to take a look at our Masters in Enterprise interview this weekend with Jennifer Grancio, CEO of Engine No. 1, the place she guides the agency’s strategic imaginative and prescient. She beforehand was a founding member of BlackRock’s iShares enterprise, the place she led European, US, and international distribution, driving the expansion of iShares and the worldwide ETF trade.

Meme Shares, under 2021 Highs


Supply: Inventive Planning by way of @PeterMallouk

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