My back-to-work morning train WFH reads:
• If you think grocery prices take a big bite out of your paycheck in the US, check out the rest of the world: It’s important to note that food prices in the U.S. — relatively speaking — are the cheapest in the world, and have been for a long time. This is the case whether measured in terms of disposable personal income or in terms of percentage of household expenditures. (The Conversation)
• Tim Cook on Why Apple’s Huge Bets Will Pay Off: The CEO of the world’s most valuable company led two of the biggest product launches of his tenure this year—and believes they will be as life-changing for the rest of us as they are for him. (Wall Street Journal)
• Climate Risk As An Amenity: First Street Shares Its Climate Risk Data With Redfin, Now Zillow Climate Risk Data Is Evolving To Be More Understood By The Consumer Measure Of The Climate Risk Impact On Individual Properties Becomes Empirical (Housing Notes) see also Should You Trust Zillow’s Climate Risk Data? It’s flawed, but not worthless. Here’s how you should think about it. (HeatMap)
• Source: Large Bets in Election Prediction Market Are From Overseas: Four accounts on crypto-based prediction market Polymarket that placed large bets on former President Donald Trump winning the 2024 election, and have been the subject of much online speculation, are owned by non-Americans or a non-American, according to a source familiar with the matter on Friday. (Reuters)
• Lina Khan Is Just Getting Started (She Hopes): Biden’s FTC chair has toughened merger oversight, taken on noncompetes and made the donor class crazy. She hints that there’s a lot more to come, if she’s given the chance. (Businessweek)
• Millennials Aren’t Falling Behind After All. This Data Reveals the Generation’s Deeper Problem. The once-dubbed unluckiest generation is one of the most economically divided, Barron’s found. (Barron’s)
• Hate Noisy Restaurants? Stick This in Your Ear. Apple earbuds will soon be able to double as hearing aids, but those and others can already help you hear dining companions. Here’s how to use them. (New York Times)
• Some Thoughts on What Makes New York so Great. I have, surprisingly, become New York City’s biggest apologist. (Young Money)
• 8 Ways of Connecting a Smartphone Can’t Deliver: They are the pillars of a happy life. So why are they under such fierce attack? (Honest Broker) see also Test Your Network: A revealing tool to try today. (The Leading Edge)
• Billy Joel Is Selling the Mansion He First Saw While Dredging Oysters: The celebrated musician has decided to part with the house of his wildest childhood dreams. (New York Times)
Be sure to check out our Masters in Business this week with Brian Higgins, of King Street Capital Management. The firm manages more than $26 billion across institutional platforms, and has become well-known for their expertise as “stressed and distressed” credit investors. Higgins and his co-founder Francis Biondi were given the “Institutional Investor’s 2023 Lifetime Achievement Award”
Haven’t Worked at the Same Place for 10 Years? Join the Club
Source: Bloomberg
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