My morning train WFH reads:
• Michael Jordan, Josh Kushner And The 16 Other New Members Of The Forbes 400. Meet the latest additions to Forbes’ ranking of America’s richest people. (Forbes) see also Donald Trump, Sam Bankman-Fried And The Snapchat Founders: Here’s Who Fell Off The 2023 Forbes 400 List Of Richest Americans: These 24 billionaires lost a combined $43 billion—and their spot among the nation’s wealthiest people. (Forbes)
• One Investor’s Uphill Battle to Turn Rewilding Into a Multi-Billion Dollar Industry: Jeremy Leggett is betting that the biodiversity restoration sector will soon be worth a fortune. Not everyone is convinced. (Bloomberg Green)
• Ether futures ETFs fizzle on US debut: The nine ETFs saw combined trading volume of $6.6mn on Monday — attracting only a fraction of BITO’s $1bn initial haul. (Financial Times)
• America’s High EV Costs Are Driving Buyers to Hybrids: Concerns about high sticker prices and limited charging infrastructure for electric cars are driving renewed interest in the gasoline-electric vehicles. (Businessweek)
• Rivian’s Quest to Build the Ultimate Truck Burns Through Billions:The EV maker has struggled to keep production up and costs down. (Wall Street Journal)
• What was Elon Musk’s strategy for Twitter? A year after the world’s richest man acquired the social media platform, a game plan published by a fired Trump White House staffer provides a clue. (NBC News)
• They Studied Dishonesty. Was Their Work a Lie? Dan Ariely and Francesca Gino became famous for their research into why we bend the truth. Now they’ve both been accused of fabricating data. (New Yorker) see also The Harvard Professor and the Bloggers: When Francesca Gino, a rising academic star, was accused of falsifying data — about how to stop dishonesty — it didn’t just torch her career. It inflamed a crisis in behavioral science. (New York Times)
• Home schooling today is less religious and more diverse, poll finds: Fear of school shootings, bullying and indoctrination helped fuel a pandemic-era boom in home schooling, according to an exclusive Washington Post-Schar School survey. (Washington Post)
• ‘Elemental’ Morphs From Flop to Hit, Raising Questions Along the Way: The Pixar film struggled at the box office initially. It has now made $500 million, but not before prompting the studio to re-examine its release strategy. (New York Times)
• Steve Cohen’s Mets Flop While Orioles Win With New Breed of Moneyball: Some teams spent freely to build a winner. But in 2023, the link between big contracts and on-the-field success was the weakest in decades. (Bloomberg)
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.
The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners
Source: New York Times
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