My back-to-work morning train WFH reads:
• Whatever happened to NFTs? When Homer Simpson comes up with a get-rich-quick scheme it usually ends badly. In the latest episode of The Simpsons the hapless dad turns his son Bart, and then himself, into NFTs to make millions. It all goes wrong when Homer finds out from a floating pizza cat that “the NFT craze is over”. The episode has been widely applauded by NFT fans and sceptics alike for successfully poking fun at a side of the crypto world that exploded a couple of years ago but has now gone very quiet. (BBC)
• First-Gen Social Media Users Have Nowhere to Go: The collective erosion of X, Instagram, and Facebook marks a turning point for millennials, who are outgrowing a constant need to be plugged in. (Wired) see also How Social Media Shapes Economic Perception: tiktok, inflation vs jobs, and discontent. (Kyla Scanlon)
• China Is Making Too Much Stuff—and Other Countries Are Worried: Factories lack customers and are pushing exports harder, raising trade tensions. (Wall Street Journal)
• Investors shake up VC market by raising money to buy out start-ups: Aim is to take advantage of economic headwinds to acquire promising businesses at a discount. (Financial Times)
• EV Market’s Surge Toward $57 Trillion Sparks Global Flashpoints: The electric-vehicle land grab is reshaping economies and challenging political allegiances around the world. (Bloomberg)
• Amazon’s New Challenge: Bargain Retailers That Are Playing a Different Game. E-commerce giant weighs how to respond as online shopping sites Shein and Temu notch rapid growth by stressing low prices, not fast shipping (Wall Street Journal)
• The Ultra-Efficient Farm of the Future Is in the Sky: Take a tour of a rooftop laboratory where scientists show how growing crops under solar panels can produce both food and clean energy. (Wired)
• Group chats can ruin your life: Group chats are ending careers, companies, and relationships. Here’s how to keep yours from spiraling into chaos. (Business Insider)
• Peter Thiel Is Taking a Break From Democracy: It’s one of his many, many disappointments. (The Atlantic)
• The 970-Page Guide to Being a Successful Perfectionist: Perfect may be the enemy of good, but perfectionism is often an ally of greatness. Just read Barbra Streisand’s new book. (Wall Street Journal)
Be sure to check out our Masters in Business this week with Linda Gibson, CEO of PGIM‘s Quantitative Solutions, which manages $119 billion via quantitative and multi-asset solutions. PGIM is one of the world’s largest asset managers, running $1.27 trillion in client assets.
Santa Clause comes to Wall Street >80% of the time + average return of 3.5%
Source: Spilled Coffee
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