The weekend is here! Pour yourself a mug of coffee, grab a seat outside, and get ready for our longer-form weekend reads:
• How Jeff Yass Became One of the Most Influential Billionaires in the 2024: Election The libertarian who turned Susquehanna into one of Wall Street’s most powerful trading firms is enmeshed with TikTok—and betting on Trump. (Businessweek)
• The Secret, Magical Life Of Lithium: One of the oldest, scarcest elements in the universe has given us treatments for mental illness, ovenproof casserole dishes and electric cars. But how much do we really know about lithium? (NOEMA)
• The Symbolic Professions Are Super WEIRD: They select for characteristically WEIRD people and exacerbate those tendencies further. The consequences are more significant than might be immediately apparent. (Symbolic Capital(ism))
• Gen AI: Too much spend, too little benefit? Tech giants and beyond are set to spend over $1tn on AI capex in coming years, with so far little to show for it. So, will this large spend ever pay off? MIT’s Daron Acemoglu and GS’ Jim Covello are skeptical, with Acemoglu seeing only limited US economic upside from AI over the next decade and Covello arguing that the technology isn’t designed to solve the complex problems that would justify the costs, which may not decline as many expect. (Goldman Sachs)
• At Mar-a-Lago, Extremism Is Good for Business: Events hosted by ultra-right organizations and political fundraisers now dominate Mar-a-Lago’s calendar, and even officially non-political events can feel like rallies. In this gilded echo chamber, Mr. Trump enjoys unwavering devotion — and collects the staggering price of admission. (New York Times)
• The pimple patch becomes a breakout fashion statement: No longer just a skin-care tool, the patches have become chic accessories — and a form of currency in lunchrooms and locker bays. (Washington Post)
• Why America’s Berries Have Never Tasted So Good: Driscoll’s had to figure out how to breed, produce and sell its most flavorful strawberries and raspberries. Now the strategy is starting to bear fruit. (Wall Street Journal)
• Why haven’t biologists cured cancer? It’s not because they’re not good enough at math. (Ruxandra’s Substack)
• The Growing Evidence That Americans Are Less Divided Than You May Think: “People are lousy at figuring out what the group thinks.” That gap—between what we ourselves think and what we reckon others must be thinking—may hold the power to upend a great deal of what we believe we know about American civic life. This collective blind spot is a quir, a foible that plays a prominent role in efforts to undo the “shared illusion” that Americans are hopelessly divided. (Time)
• These Are the Best U.S. National Parks—and They’re Not Even That Crowded: Whether you’re into hiking, camping, birding or biking, there’s a national park for you. To narrow down the options, we systematically crunched the numbers to rank them all, and we bet the top spot will surprise you. (Wall Street Journal)
Be sure to check out our Masters in Business this week with Matt Eagan of Loomis Sayles. He is the head of the full discretion team, and a member of Loomis’ Board of Directors. Loomis Sayles & Co. was founded in 1926, acquired by Natixis in 2000, and manages over $335 billion in client assets.
Wind is quietly blowing away coal, when it comes to supplying electricity in the US
Source: Sherwood
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