My morning train WFH reads:
• The U.S. Cracked a $3.4 Billion Crypto Heist—and Bitcoin’s Anonymity: “Federal authorities have pierced the veil of blockchain transactions. Investigators can now identify supposedly anonymous wallet addresses associated with terrorists, drug traffickers, money launderers & cybercriminals.” (Wall Street Journal)
• End of the Gas-Engine Camaro Opens a New Door for Muscle Cars: G.M. is ending production of the classic American sports car, but executives say an electric version is likely. Corvette is already planning one. (New York Times) see also A Classic American Car Is Having an Identity Crisis: Ford’s electric Mustang, the Mach-E, is attracting an unusual bunch of drivers—including me. (The Atlantic)
• How China changed the game for countries in default: The fragile process for dealing with insolvent economies is now at risk of unravelling completely owing to a powerful and unpredictable force in sovereign debt. (Financial Times Alphaville)
• The 60-40 Investment Strategy Is Back After Tanking Last Year: The recovery has emboldened investors who didn’t stray from the approach during 2022’s market tumult (Wall Street Journal)
• How 2022 Became a Record Year for US Income Taxes: An asset-price boom, a progressive tax code and inflation interacted to drive effective rates higher than ever. Now the process is working in reverse.. (Bloomberg)
• Hospital ‘Black Boxes’ Put Surgical Practices Under the Microscope: Hospitals have begun to use the technology to help reduce medical errors and improve patient safety. (Wall Street Journal)
• AI is flooding the workplace, and workers love it: Who’s afraid of ChatGPT? Not these workers. (Vox)
• Meet the cranky uncle ‘vaccinating’ people against conspiracies: Observation is backed up by a new review of 25 studies into counteracting conspiratorial thought and scepticism towards science. The University of Cork review found that “traditional fact-checking and counterarguments are the least effective means of combating conspiracy beliefs.” (Sydney Morning Herald)
• Elon Musk’s Free-Speech Charade Is Over: Now that the mogul has swung Twitter to the right, conservatives no longer believe that social-media policies violate the First Amendment. (The Arlantic) see also NPR becomes first major news organization to leave Twitter: The decision comes as Elon Musk’s relationship with the press deteriorates at an astonishing rate. (The Verge)
• The Wave-Conquering, Metaverse-Crashing Life of Kai Lenny: Treated as an outcast in Maui’s cool-kid surf culture, he went on to master nearly every extreme water sport. No wonder the tech elite has a crush on him. (Wired)
Be sure to check out our Masters in Business this week with Joe Baratta, Global Head of Private Equity at PE giant Blackstone. In the 2000s, he helped establish the firm’s private equity business in Europe. He sits on Blacktone’s Board of Directors and its Management Committee and serves on many of the firm’s investment committees.
Vinyl outstrips CDs once more
Source: Semafor
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