The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads:
• How bonds ate the entire financial system: A very short, very wild history of the market that will shape the next financial crisis. (Financial Times)
• The demonisation of BlackRock’s Larry Fink: All he wanted to do was save the planet while making his firm a fortune. Henry Tricks meets the face of woke capitalism. (Economist)
•The Secret Life of the 500+ Cables That Run the Internet: Laced across the cold depths of the world’s oceans is a network of multimillion-dollar cables, which have become the vital connections of our online lives. (CNET)
• How much money do doctors really make and why is it such a lot? The average U.S. physician earns $350,000 a year. Top doctors pull in 10 times that. When those simple data points were first presented in 2020, a small subset of physicians came unglued on the microblogging site formerly known as Twitter, slinging personal insults and at least one deeply unflattering photo illustration of an economist. (Washington Post)
• The state of AI in 2023: Generative AI’s breakout year: As organizations rapidly deploy generative AI tools, survey respondents expect significant effects on their industries and workforces. (McKinsey)
• Hell in a ham milkshake: I tried to make eight dishes from The Bear. It nearly broke me. (The Guardian)
• The Procrastinator’s Paradox: What if delaying your work is part of the process? (Businessweek)
• Notes from Grief Camp: Every summer, more than a hundred kids spend a weekend at Camp Erin swimming and canoeing. They also learn to deal with death. (The Walrus)
• Studying the Limits of Human Perfection, Through Darts: Why do athletes always seem to get better, generation by generation? It’s not always for the reasons you might think. Give this article. (New York Times)
• For Dua Lipa, Just Being a Pop Star Isn’t Enough: Though the singer has maintained a strict line between her music and her private life, she’s leveraging her personal passions in a bid to become a media mogul. (New York Times)
Be sure to check out our Masters in Business interview this weekend with Ted Seides, founder of Capital Allocators, an advisory platform to managers and allocators. Previously, he worked under David Swensen at the Yale Investments Office, where he invested directly with three of Yale’s managers. We discuss his famous bet with Warren Buffett about whether a selection of hedge funds could beat the S&P 500 over a decade. (Buffett won).
China falls into deflation
To learn how these reads are assembled each day, please see this.