My morning train reads:
• Here’s How Much Wealth You Need to Join the Richest 1% Globally: It takes $12.4 million to join Monaco’s wealthiest group The US, by comparison, requires $5.1 million to make the cut. (Bloomberg)
• Brew Another Pot, Robinhood’s 24-Hour Stock Trading Is Here: As the company launches a new nighttime buying and selling feature, one Reddit poster asks: “Why would anyone want this?” (Businessweek) see also Good-Bye RobinHood On a trading desk, where we used everything from Instinet to Bloomberg to SOES to Nasdaq Level III. I’ve traded stocks, options, ETFs, mutual funds, and bonds. In terms of interface and user experience, Robinhood was less like those professional products — it was closer to CandyCrush than it was NQDS. (The Big Picture)
• The Disappearing White-Collar Job: A once-in-a-generation convergence of technology and pressure to operate more efficiently has corporations saying many lost jobs may never return. (Wall Street Journal)
• Taco John’s trademarked ‘Taco Tuesday’ in 1989. Now Taco Bell is fighting it. It’s a battle between taco chain restaurants. Taco John’s, which has about 400 locations in 23 states, trademarked “Taco Tuesday” back in 1989. Now, Taco Bell argues it should be able to get in on using the popular phrase – with no legal ramifications. It filed a petition with the U.S. Patent and Trademark Office on Tuesday asking for the trademark to be reversed. Taco John’s trademarked ‘Taco Tuesday’ in 1989. Now Taco Bell is fighting it. It’s a battle between taco chain restaurants. Taco John’s, which has about 400 locations in 23 states, trademarked “Taco Tuesday” back in 1989. Now, Taco Bell argues it should be able to get in on using the popular phrase – with no legal ramifications. It filed a petition with the U.S. Patent and Trademark Office on Tuesday asking for the trademark to be reversed. (NPR)
• Recession Calls Keep Getting Pushed Back, Giving Soft Landing Believers Hope: Defying sharp rate hikes, unemployment stays low and consumers resilient. (Businessweek)
• Have all the beers gone woke? An investigation. Conservatives are mad about a Miller Lite video from March now. I don’t know. (Vox)
• ‘You can’t say that!’: how to argue, better. A good debate isn’t about one person declaring victory, it’s about both people making a discovery, says psychologist Adam Grant (The Guardian)
• Who Is Leonard Leo’s Mysterious Dark Money King? America needs to know who Barre Seid is, what kind of country he wants, and just how massive an impact his $1.6 billion gift can have on our political discourse. (New Republic)
• We’re All Bored of Culture: Anglo-Calvinist moralism has turned the American arts into something strenuously polite and deadly dull. (Tablet)
• Shakespeare Was Shakespeare: It is long past time to retire the pernicious, anti-historical, dumb search for who “really” wrote Shakespeare’s plays. (Slate)
Be sure to check out our Masters in Business next week with Robyn Grew, Incoming CEO of Man Group, (and current President). Man Group is the largest publicly traded hedge fund in the world, whose history dates back 230 years to 1783. Previously, she held senior positions at Barclays Capital, Lehman Brothers, and LIFFE.
Here’s How Much Wealth You Need to Join the Richest 1% Globally
Source: Bloomberg
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