My morning train WFH reads:
• Seven More Ways to Fool Yourself Into Good Financial Decisions Being boring has its advantages, behavioral economists say. (Businessweek) see also Investing: The Greatest Show On Earth “90% of financial problems? ‘Save more money, be patient.’ Nothing is more powerful. Things that are boring but effective are discounted relative to things that are exciting but knowingly less effective.” (Collaborative Fund)
• Retail investor apathy threatens to derail Spac deals Critical shareholder votes are delayed after investors fail to participate in sufficient numbers (Alphaville/ FT.com)
• America’s Battery-Powered Car Hopes Ride on Lithium. One Producer Paves the Way. The U.S. is racing to catch up to China in mining and refining the metal, and Piedmont Lithium is at the leading edge. (Wall Street Journal)
• The burgeoning weed industry is becoming a sizable source of carbon emissions Energy-intensive indoor pot growth has become a sizable source of greenhouse gas emissions; there are ways to lessen the environmental burden. (Axios)
• The Roblox Microverse Start with analog games, progress to video games, and then to casual games. It’s worth noting that video games preceded the web by many years; it makes more sense to make traditional video games the base unit. Think “Creation” not “Consumption” for video games (Stratechery)
• Reason Evolved Not to Help Us Make Better Decisions, But to Help Us Win Arguments The case for the argumentative theory of reason, as made by The Office (Anything Different)
• The Empty Religions of Instagram How did influencers become our moral authorities? Are we truly nonreligious, or are our belief systems too bespoke to appear on a list of major religions in a Pew phone survey? (New York Times)
• Tesla owner spends $160 driving cross-country in all-electric 2021 Mustang Mach-E My problem with Tesla is their quality of service and workmanship. Some people accept it. When I had a 2019 Model X 100D, I used to hit a puddle and water would shoot up from the dashboard in my car. That car cost me almost $90,000. They couldn’t figure it out. In the Mach-E, everything looks nice (Detroit Free Press)
• H.R. 1 for Dummies A layman’s guide to understanding what the For the People Act is and why America needs it. (The Bulwark) see also Biden’s COVID Bill Is His First Step Toward an FDR-Style Presidency This will appreciably improve the lives of Americans—and position the administration to do even more. (Slate)
• The last show: 27 entertainers on the disbelief and despair that took over when covid-19 shut down their world Nobody was prepared for an extended shutdown that, with some starts and stops, would last a year — and counting. Artists, accustomed to spending months on the road, were now at home, trying to adapt. (Washington Post)
Be sure to check out our Masters in Business interview this weekend with Jeff Immelt, former CEO of General Electric from 2001 to 2017. He joined GE in 1982, in its plastics, appliances, and healthcare division, and led GE’s Medical Systems division from 1997 to 2000. His new book is: Hot Seat: What I Learned Leading a Great American Company.
Looking for a‘Big Top’? Try the Circus, Not U.S. Stocks
Source: Dave Wilson’s Chart of the Day
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