My end of week morning train WFH reads:
• U.S. Risks Repeating 2009 Mistakes as Economic Recovery Slows: In the wake of the last recession, government spending dried up, dragging out the recovery. Policymakers warn against letting it happen again. (New York Times)
• Investors flee US junk bond funds as concern for the economy grows: US junk bond funds have suffered their biggest weekly outflows since the depths of the coronavirus pandemic in March, as investors fret over the sustainability of the US economic recovery. (Financial Times)
• Illiquidity Premium: Ivy League Hedge Fund Managers Get Away With More: Hedge fund managers with elite degrees are able to impose unpopular redemption restrictions that help them generate higher returns. (Institutional Investor)
• How Twitter Survived Its Biggest Hack—and Plans to Stop the Next One: On July 15, Twitter melted down. On Election Day, that’s not an option. (Wired)
• How Much Progress Has Been Made on Corporate America’s Stakeholder Pledge? Last year, the Business Roundtable vowed to shift its corporate purpose to better serve communities and groups beyond its shareholder base. The promise, overall, hasn’t been kept yet. (CIO) see also Stop Waiting for Capitalism to Cure Inequality: Business was counting on market forces. It’s time for a new approach. (Businessweek)
• This Art Was Looted 123 Years Ago. Will It Ever Be Returned? The Benin Bronzes, some of Africa’s greatest treasures, were looted in 1897. After a chance encounter, two men made it their mission to return them. (New York Times)
• What ‘net-zero carbon’ really means for cities: A city historically known for its lethal 20th-Century smogs has committed to reaching net zero carbon emissions by 2050 – how will London get there? (BBC)
• The U.S. Has an Empathy Deficit: Whenever people are troubled or hurting or dealing with serious problems, they want to feel that other people understand what they are going through and are concerned. But opportunities to give and receive empathy feel less than adequate these days: decreased social interaction, online get-togethers, air hugs and masked conversations are not quite up to the task (Scientific American)
• The best comedy skewering the administration, from Sarah Cooper to John Mulaney: The comedy that got inside Trump’s head: It may be hard to spoof such an atypical president, but these 10 creative minds did it best. (Washington Post)
• Shanah Tova From Donald Fagen: The genius of Steely Dan talks blacks, Jews, and Lenny Bruce—and his new record, Sunken Condos (Tablet)
Be sure to check out our Masters in Business interview this weekend with Pedro Earp, Chief Marketing Officer at AB InBev as well as the director of the company’s Venture Capital fund, ZX Ventures Officer. AB InBev is the world’s leading brewer, selling about ~1/4 of all beer around in the world beer in more than 150+ countries with such brands as Budweiser, Corona, Stella, Becks, Hoegarden, Modela, and 100s others.
The covid-19 pandemic is worse than official figures show
Source: Economist
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