The weekend is here! Pour yourself a mug of Henry’s House of coffee, grab a seat at the pool, and get ready for our longer-form weekend reads:
• God, Money, YOLO: How Cathie Wood Found Her Flock Ms. Wood says the Holy Spirit moved her to strike out on her own after an up-and-down career in money management. But it’s her belief in herself that won the Reddit crowd’s faith. (New York Times)
• Roger Federer’s Biggest Legacy? It Might Be His Billion-Dollar Brand. Other tennis superstars have built sponsorship empires. But none ever wooed the corporate class as brilliantly as Federer. (New York Times)
• Why the Bezzle Matters to the Economy The bezzle, a word coined in the 1950s by a Canadian-American economist, is the temporary gap between the perceived value of a portfolio of assets and its long-term economic value. Economies at times systematically create bezzle, unleashing substantial economic consequences that economists have rarely understood or discussed. (Carnegie Endowment for International Peace)
• The quirks and features of YouTube car reviews with Doug DeMuro What’s going to surprise you is how much data from YouTube Doug actually tracks and how he uses that data to make decisions about what videos to make. Doug’s also a product reviewer, so we talked about what reviews are for, who they serve, and how Doug manages to keep himself independent in the face of auto industry glad-handing. Doug was pretty direct that he considers himself a journalist — and direct about how various car companies try to get favorable reviews. (The Verge)
• Big D Is a Big Deal Dallas–Fort Worth is becoming the de facto capital of America’s Heartland. Today, Dallas is pulling away economically from the nation’s long-established urban centers because of a distinctive policy orientation: growth-friendly, with lighter-touch business regulation and lower taxes than longtime urban centers in the Northeast, the Midwest, or California. Only four of the 53 U.S. metros with more than 1 million people outperform DFW on an index of economic freedom measuring tax levels, government spending, and labor rules. (City-Journal)
• Shipwrecked: A Shocking Tale of Love, Loss, and Survival in the Deep Blue Sea “Mayday! Mayday!” A crew member was shouting into the radio, trying to summon the Coast Guard as the yacht began taking on water. Cavanagh had just burst into Scaling’s cabin, while Adams roused Lippoth and Mooney. And now they huddled together at the bottom of a flight of stairs watching the salty seawater rise toward the ceiling. Lippoth tried to activate the radio beacon that would have given someone, anyone, their latitudinal and longitudinal coordinates, but the water rushing in carried it away before he could reach it. (Boston)
• Compute and the Metaverse In totality, the Metaverse will have the greatest ongoing computational requirements in human history. And compute is, and is likely to remain, incredibly scarce. To quote Chris Dixon, general partner at Andreessen Horowitz, “Every good computing resource in the world, in history, has had demand outstrip supply … it’s true of CPU power. It’s true of GPU power.” As a result, the availability and development of computing power will constrain and define the Metaverse (even though end-users won’t realize this). (Matthew Ball)
• How Big Can the Quantum World Be? Physicists Probe the Limits. By showing that even large objects can exhibit bizarre quantum behaviors, physicists hope to illuminate the mystery of quantum collapse, identify the quantum nature of gravity, and perhaps even make Schrödinger’s cat a reality. (Quanta Magazine)
• Let People Enjoy This Essay: How the mindset of an irritating web comic infected criticism. “Let people enjoy things” is, partly, just about figuring out when it is and isn’t appropriate to get into a disagreement, which, for conflict-enjoying people, is a lifelong process. There’s a right time and a right place and, maybe most importantly, the right companions for me out there. When in somebody else’s home — or their metaphorical home, like their twitter mentions — play by their rules. (Gawker)
• Jonah Hill Is SuperGood His 20s were wild: a parade of raunchy, era-defining comedies. Then Jonah Hill shifted gears, directing a deeply personal film and taking on the kinds of rich, complex roles he’s always wanted. Here he opens up to director Adam McKay (another funny guy gone serious-ish) about that evolution—and how nice it is when your happiness finally catches up with your success. (GQ)
Be sure to check out our Masters in Business interview this weekend with Joan Solotar, Blackstone’s Global Head of Private Wealth Solutions. PWS manages over 100 billion dollars of the private equity giant’s $684 billion in assets. She has been named to Barron’s 100 Most Influential Women in US Finance list.
What do you think is the most crowded trade?
Source: Isabel Net
To learn how these reads are assembled each day, please see this.