My end of week morning train WFH reads:
• SPAC Rout Erases $75 Billion in Startup Value Shares in this once-hot sector have dropped 25% since mid-February, highlighting the risk of jumping into the latest sure bet (Wall Street Journal)
• All the Biggest Environmental Risks Facing the World’s Biggest Cities From landslides and extreme heat to insect infestations and airborne diseases, these are the most worrying hazards in urban areas with more than 1 million people. (BusinessWeek)
• Inflation is cooling some, but not all the reasons are good ones. While inflation stepped down, it’s too soon to say whether the higher pace this year will remain or be temporary. It’s the underlying causes not the topline numbers that deserve more scrutiny now. (Stay-At-Home Macro)
• For This Architect, the Garage Isn’t an Afterthought—It’s Often the Centerpiece Patrick Ahearn designs carriage houses and car barns for automobile enthusiasts and luxury collectors (Wall Street Journal)
• Amazon’s favorite electric vehicle company is going public at a very tricky time 12-year-old electric vehicle manufacturer Rivian filed for an initial public offering. Backed by Amazon and considered one of the biggest threats to Tesla, it is seeking a valuation as high as $80 billion. That would make Rivian one of the world’s most valuable automakers, worth billions more than Ford or GM — and its trucks aren’t even on the road yet. (Vox)
• 40 Ways Things Are Getting Better “What has gotten materially better in America in, say, the last twenty years?” So! Much! (Reason)
• Overlapping Disasters Expose Harsh Climate Reality: The U.S. Is Not Ready The deadly flooding in the Northeast, on the heels of destruction from Louisiana to California, shows the limits of adapting to climate change. Experts say it will only get worse. (New York Times)
• A Marine Bacteria Shows Promise for Curing an Aggressive Brain Cancer A new glioblastoma drug is derived from a microbe found in the ocean at depths of up to 6,500 feet. (Smithsonian)
• Documenting the Last Pay Phones In America A photographer in Rochester, N.Y., tries to capture an obsolete technology before it disappears (Businessweek)
• Where’s the Next Andy Roddick? Americans dominated men’s tennis for decades. Then, nearly 20 years ago, we entered a drought the likes of which we’d never seen. Rosecrans Baldwin talks to more than two dozen former champions, current pros, and longtime experts to figure out what went wrong and how dudes of the stars and stripes might return to Grand Slam glory. (GQ)
Be sure to check out our Masters in Business interview this weekend with Robert Hormats, Managing Director at Tiedemann Advisors. Previously, he spent 25 years at Goldman Sachs (International), rising to Vice Chairman. Hormats has served five U.S. presidential administrations, most recently as Under Secretary of State for Economic Growth, Energy, and the Environment from 2009 through 2013.
States Dole Out Cash to College Kids, Theaters With $200 Billion Boost
Source: Bloomberg Graphics
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