My back-to-work morning train WFH reads:
• ‘A Galactic Embarrassment’: The Crypto World Is Already Sick of SBF’s Trial: FTX founder Sam Bankman-Fried’s trial for fraud is sucking all the air out of the room. Crypto folks can’t wait for it to be over. (Wired)
• Why don’t you just sell all your stocks and buy ETFs, you’ll probably have better performance? Every good investor understands that what they are aiming for is hard to achieve, yet they do it anyway. For some, the monetary reward and alpha is all they care about. Others appreciate that the benefits of investing span far beyond an arbitrary total return quota. Everyone invests for their own reasons, so what drives people to buy stocks instead of just buying ETFs and going to the beach? (Investment Talk)
• The SBF trial is a reminder that crypto is a rotten business: Financial nihilism has produced this game of Monopoly money. (Financial Times)
• Why AI Is Medicine’s Biggest Moment Since Antibiotics: The dean of Stanford University’s medical school thinks artificial intelligence will transform the medicines you take, the care you get and the training of doctors. (Wall Street Journal)
• Revenge Travel Is Dead. What Comes Next. After two years of putting up with anything to visit must-see destinations, travelers are looking for more bliss, less stress. (Barron’s)
• Despite Backlash, Companies Still Benefit From Being Pro-LGBTQ: Calls for boycotts and online harassment are a given these days. But most consumers want companies to be inclusive. (Businessweek)
• The propane industry’s weird obsession with school buses, explained: Electric school buses are better for kids’ health. The propane industry has other ideas. (Vox)
• Could Steve Scalise Quell the House GOP Revolt to Become Speaker? The antiestablishment conservatives who toppled Kevin McCarthy could also thwart the House No. 2 from becoming speaker. (Wall Street Journal)
• The weird hum coming from the start of the Universe: In the first few hundred thousand years after our Universe was born, a primordial hum ripped through a plasma of superheated particles. Scientists are listening in with the hope of gaining new insights about the mysterious force known as dark energy. (BBC)
• How a Chain-Snatching and a Vegas Beatdown Led to Tupac’s Murder: Grand jury witness testimony describes how hyperlocal clashes between warring gang factions spilled into a fatal dispute that would alter the course of hip-hop history. (New York Times)
Be sure to check out our Masters in Business interview interview this weekend with author Michael Lewis. His latest book Going Infinite: The Rise and Fall of a New Tycoon about the rise and fall of FTX’s founder Sam Bankman Fried. Lewis spent a year embedded with Bankman Fried, who at one time was both the youngest billionaire worth nearly $100 billion dollars. The quirky crypto founder is now under arrest and awaiting trial for massive fraud.
Amazon Has Quietly Built an Enormous Advertising Business
Source: Chartr
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