The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads:
• Kanye and Adidas: Money, Misconduct and the Price of Appeasement: A year ago, after producing hundreds of shoe styles and billions of dollars together, Adidas broke with Kanye West as he made antisemitic and other offensive public comments. But Adidas had been tolerating his misconduct behind the scenes for nearly a decade. (New York Times)
• How creators became an economic juggernaut and the new American Dream: Millions have ditched traditional career paths to work as online creators and content-makers, using their computers and phones to amass followers and build businesses whose influence now rivals the biggest names in entertainment, news and politics. The creator economy, as it’s known, is now a global industry valued at $250 billion, with tens of millions of workers, hundreds of millions of customers and its own trade association and work-credentialing programs. (Washington Post)
• The Myth of the Great Boomer Wealth Transfer: So when is this Great Wealth Transfer going to happen? Are our parents sitting on millions that they haven’t told us about? Will we soon see a life-changing jump in younger generations’ net worth? If the past is any indication, younger generations shouldn’t get their hopes up. (Business Insider)
• UBS Looks Beyond Credit Suisse to Bank Even More Billionaires: The return of CEO Sergio Ermotti and the acquisition of its Swiss rival have the bank doubling down on wealth management and expanding in the US. (Businessweek)
• You’re Invited to a Colonoscopy! Colonoscopies are the first-line method for preventing colorectal cancer in America —and almost nowhere else. But do they work? We finally have a comprehensive trial, but it’s left gastroenterologists with more questions than answers. (Asterisk)
• An Innovation System That Works: Before rushing to build the next DARPA, we need to assess the R&D model we have. (Boston Review)
• What Mitt Romney Saw in the Senate: In an exclusive excerpt from my forthcoming biography of the senator, Romney: A Reckoning, he reveals what drove him to retire. (The Atlantic)
• Light and gravitational waves don’t arrive simultaneously: In 2017, a kilonova sent light and gravitational waves across the Universe. Here on Earth, there was a 1.7 second signal arrival delay. Why? (Big Think)
• School of Hard Laughs: A rabbi, Jay Leno and a Proud Boys lawyer walk into a bar … for Adam Carolla’s inaugural Comedy Fantasy Camp. THR tags along as comedians sell the dream to “a rogue’s gallery of people with a slight dusting of misfit.” (Hollywood Reporter)
• Taylor Swift Hits Billionaire Status as Net Worth Surges With Eras Tour Success: The most definitive account yet of the pop star’s wealth shows she’s one of the few recording artists to build a 10-figure fortune almost entirely from her music. (Bloomberg)
Be sure to check out our Masters in Business next week with Michael Carmen, who is the Co-Head of Private Markets at Wellington Management. He manages a diversified portfolio of late-stage growth equity in technology, consumer, health care, and financial services sectors. Wellington is one of the world’s top 20 asset managers, was founded in 1933, and runs $1.2 trillion in client assets.
What Is Your Biological Age? Take These Tests to Find Out
Source: Wall Street Journal
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