My end-of-week morning offsite reads:
• A New Bull Market Can’t Start Until Investors Give Up For a new cycle to begin, people who bet on the market need to capitulate. Problem is, they’ve forgotten what that feels like. (Wall Street Journal)
• What’s Going On…With Jobs The June jobs report was cheered by economic bulls given its strength in level terms, but rates of change among leading indicators don’t favor a soft-landing outcome for the economy. (Charles Schwab) see also ‘A bigger paycheck? I’d rather watch the sunset!’: is this the end of ambition? From high-flyers quitting their jobs to Beyoncé singing about work-life balance, people are recalibrating their lives and relationships to their jobs. What’s changed? (The Guardian)
• What is happening with the housing market? Why big interest rate hikes are scrambling an already strange real estate landscape. The housing market is the most confusing it’s ever been. (Grid)
• Copious Corporate Cash May Not Be So Great, After All Touted as a bulwark against recession, it could draw down quickly—and it is concentrated at a few big companies. (Chief Investment Officer)
• Little Ways The World Works: If you find something that is true in more than one field, you’ve probably uncovered something particularly important. The more fields it shows up in, the more likely it is to be a fundamental and recurring driver of how the world works. (Collaborative Fund)
• A Slowdown Is Coming to Venture Fundraising. Here’s How Allocators and Managers Are Handling It. “The fund size you thought you’d get at the end of 2021 is not the one that you’ll get now.” (Institutional Investor)
• China’s debt bomb looks ready to explode Many warning signs suggesting that a debt reckoning is imminent (Nikkei) see also This Pioneering Economist Says Our Obsession With Growth Must End: But what about the counterintuitive possibility that our current pursuit of growth, rabid as it is and causing such great ecological harm, might be incurring more costs than gains? (New York Times)
• The Intoxicating Pleasure of Conspiratorial Thinking: What a remorseful January 6 insurrectionist taught me about why we believe (Wired)
• The Octopus Dreams of Crabs: What do we know about how animals think, see, and feel? And should that change how we treat them? (Slate)
• RRR is an incredible action movie with seriously troubling politics: The Tollywood blockbuster is a hit on Netflix, but its casteist politics aren’t so simple. (Vox)
Be sure to check out our Masters in Business interview this weekend with Graham Weaver, founder of and partner of Alpine Investors, a private equity firm in San Francisco that invests in software and services and manages about $8 billion dollars. Weaver holds an MBA from Stanford GSB and a B.S. in engineering from Princeton. He started Alpine in his dorm room at Stanford’s Graduate School of Business, where he now is a lecturer, teaching courses on both management and entrepreneurship.
Working from home is more common in big cities
Source: WFH Research
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