Happy MLK Day! The markets are closed, but the flow never stops. Contextual news for our 3-day weekend says:
• The demise of the hit business modelAs the industry changes, where do creative producers fit in? How do we make a living and provide services to subscriber-based companies? How do we earn a steady salary while still having health care and supporting our work overhead that often comes out of pocket? How do we advance projects that may not seem obvious until they happen? Projects that are controversial, unusual or take risks. (Dear Manufacturer)
• Markets are locked in a game of chicken with the FedInvestors are betting that the Fed will cut interest rates as early as the second half of the year. The central bank says otherwise. (Wall Street Journal) see also Fed. Whose words carry the most weight?Final Fed Guidance. Who’s who at the central bank and how to decipher what they’re saying. (Baron’s)
• What if Tesla is…just a car company? Tesla’s aura as an elite technology disruptor is fading as EV rivals multiply and improve their offerings. (Wall Street Journal)
• How dividends drive your returns in the stock marketThe price index rose from just under 18 in 1928 to over 3,800 by the end of 2022. That’s good enough for a total return of over 21,500%, or 5.8% compounded annually. (The wealth of common sense)
• The value of corporate pension assets has decreased sharply. That’s why it doesn’t matter. “It was a bit of a remarkable coincidence that both assets and liabilities fell so much, but by the same amount,” said Aon’s Joe McDonald. (institutional investor)
• How San Francisco ditched high income and got richThe pandemic’s tech boom and the “doughnut effect” have boosted median incomes in both expensive cities and less expensive suburbs. (Bloomberg)
• What I Learned from Reading Marc Andreessen’s Pmarca Blog Archive Ebook. An opportunity to create something new – the proverbial blank sheet of paper. You can, in fact have an obligation to, imagine a product that doesn’t yet exist and bring it to life without any of the constraints that larger companies typically face. (Founders)
• We try to live one day without plasticIt is all around us despite its negative impact on the planet. During a 24-hour experiment, a journalist tried to get rid of plastic. (New York Times)
• Matt Yglesias’ boring journeyA Washington ur-blogger’s slightly controversial, mildly annoying, somewhat influential, highly profitable path to the political center. (Washington Post)
• Enter the transmitterWill a new generation of women in the pulpit perpetuate the tyrannical charisma of their male predecessors, or subvert it? (Eon)
Be sure to check out our Masters Business Interview this weekend! Jennifer Grancio, Engine No. 1’s CEO where he drives the company’s strategic vision. He was previously a founding member of BlackRock’s iShares business, where he led European, US and global distribution, driving the growth of iShares and the global ETF industry.
The percentage of global indices in a bear market reversed from > 60% to 0% (11th time since 1972).
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