My back to work morning train WFH reads:
• The New Jobs Numbers Are Pretty Good, Actually They fell far short of analyst expectations, but they reflect a steady expansion that is more rapid than other recent recoveries. (New York Times) see also The Radically Changing Labor Market These days, the labor market is even more unusually dynamic than typical. It is not an exaggeration to suggest it is in the midst of a radical transformation. (The Big Picture)
• Zillow Isn’t Buying All Of The Homes on Your Block The dangerous allure of using easy anecdotes to explain complex problems (Medium)
• Climate Change Is the New Dot-Com Bubble: The free market has plenty of grandiose ideas about how to fix our broken planet. There’s just one problem: We can’t afford another bust. (Wired)
• New York’s Real Estate Tax Breaks Are Now a Rich-Kid Loophole If you have a modest income but access to lots and lots of cash, New York City has an apartment ownership program that’s right up your alley. Even if it wasn’t meant for you at all. (Businessweek)
• An SEC Rule Was Meant to Protect Individual Investors. Chaos Ensued. Thousands of stocks and bonds in the over-the-counter market are now out of reach for small investors. Professionals are still trading. (Wall Street Journal)
• What Critics of Economics Get Wrong Bashing the field is commonplace — but few are doing it for the right reasons. (Chronicle of Higher Education)
• How Evergrande Grew and Grew, Despite Years of Red Flags Chinese property company’s path to crisis came with issues underestimated by investors (Wall Street Journal)
• How a high-powered lawyer became a TikTok superstar: Meet the Korean Vegan So how did a super-busy law partner become a vegan icon and social justice champion whose debut cookbook is one of the most anticipated releases of the fall? She says she decided to give veganism a try, but she refused to give up her childhood favorites. Instead, she set out to veganize them all. (Washington Post)
• The Math of the Amazing Sandpile To understand self-organization in nature, behold the sandpile. (Nautilus)
• Here’s Why Leaf Blowers Are Evil Incarnate Lawn mowers, garbage trucks and generators all make plenty of noise in the suburbs. But nothing compares to this amplified, gas-powered mosquito. (Wall Street Journal)
Be sure to check out our Masters in Business interview this weekend with Chamath Palihapitiya, founder of Social Capital. He began his career as an engineer and team leader at AOL, Facebook, and Slack, but soon moved into Venture Capital. He earned the nickname “SPAC King” for numerous successful deals he has done, and today is a part-owner of the Golden State Warriors.
September Employment Report: 194 Thousand Jobs, 4.8% Unemployment Rate
Source: Calculated Risk
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