My end of week morning train WFH reads:
• After 9/11, Kenneth Feinberg was asked to do the unthinkable: Assign a value to each life lost that day Two months after the terrorist attacks, Feinberg was handed an unthinkable task by Congress: assigning dollar values to the 3,000 lives lost that day, as well as the thousands injured. As special master of the September 11th Victim Compensation Fund, Feinberg presided over an unprecedented, unlimited budget to repay families what could never be repaid. (Washington Post) see also 9/11 brought a sense of national unity. Why has the pandemic been marred by division? Do bad times really make us better people? The 20th anniversary of 9/11 – occurring in the 18th month of the COVID-19 pandemic – offers a reality check. Also, a sobering study in contrasts. Because if 9/11 brought us together, COVID seems to be tearing us apart. (USA Today)
• Business is Booming Every time you think 21st-century technology has plucked all the low-hanging fruit, you’re surprised at the next one. When you purchase a home, the lender requires you to buy an insurance policy ensuring that you have title to the house. In case, ya know, somebody knocks on your door and says hey, “My great-great-grandparents owned this house.” I’ve now paid title on my home 3 times in under 3 years (thanks to the refi). I recently listened to the CEO of Doma, they’re trying to clean up the problems to a solution that hasn’t changed in a hundred years (Irrelevant Investor)
• Biden’s SEC is ready to regulate cryptocurrency The Securities and Exchange Commission (SEC) — led by Gary Gensler, who taught a class on cryptocurrency at MIT — is trying to make the case that it can and will regulate whatever cryptocurrency investment schemes it decides fall under its purview. The relative newness and rapid expansion of the cryptocurrency industry have put it in a regulatory gray area. The Internal Revenue Service (IRS) classifies crypto as property. The Commodity Futures Trading Commission (CFTC) considers crypto to be a commodity. And the SEC has said that digital assets “may be securities, depending on the facts and circumstances.” (Recode)
• Meet The Travel Agent Who Thrived During The Travel Industry’s Pandemic Lull This is the story of an outsized character, who is an outlier in almost every way, who managed to do what many of his peers thought was impossible—make real money in a declining industry. It is also the story of supercars roaring down highways in the bayou, quiet deals in Japanese restaurants, and a late-night call to a lawyer tasking him to deliver 24 pillows to a Manhattan hotel room. (Forbes)
• Why America has 8.4 million unemployed when there are 10 million job openings The economy is undergoing massive changes. There’s a big mismatch at the moment between the jobs available and what workers want. (Washington Post) see also The Biggest Truth Most Leaders Misunderstand About ‘the Great Resignation’ Want your employees to stick around? Flexibility is just the minimum. (Inc)
• What we talk about when we talk about gentrification The worst problems are in the neighborhoods that aren’t gentrifying. (Vox)
• The Screen in Your Car Is Beckoning “Infotainment” systems are becoming flashy, feature-packed distractions—and carmakers are just getting started. (Slate)
• How a Viral Video Bent Reality A conspiracy film energized the “9/11 truther” movement. It also supplied the template for the current age of disinformation. (New York Times)
• The 26 Most Beautiful Towns in America America has some fantastic cities, sure—but the most beautiful towns in America offer something all their own. Whether they have over-the-top American charm (we’re looking at you, Woodstock, Vermont) or proximity to some of the loveliest landscapes on earth (hello, Bar Harbor), these idylls are worth a stopover, at the very least. You won’t run out of things to do: These small towns are home to local boutiques, tons of outdoor activities, and restaurant-to-people ratios that lean way in your favor. (Conde Nast Traveler)
• Cameras, Drones and X-Ray Vans: How 9/11 Transformed the N.Y.P.D. Forever Two decades after the attack on New York City, the Police Department is using counterterrorism tools and tactics to combat routine street crime. (New York Times)
Be sure to check out our Masters in Business interview this weekend with Jack Devine, a 32-year veteran of the Central Intelligence Agency (“CIA”). He served as both Acting Director and Associate Director of CIA’s operations. His latest book is Spymaster’s Prism: The Fight against Russian Aggression
Earnings are seen as S&P 500’s `entire driver’ this year: U.S. equity benchmark rose 20% for the year through Monday, forward earnings climbed 29% in the period
Source: @TheOneDave
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