the train WFH reads:
• Sam Bankman-Fried, the disgraced boy king of crypto, explains: He was a billionaire who quickly gained political and philanthropic influence. what happened (Vox)
• Electric vehicles begin to enter the mainstream of car buying: Although sales are still skewed towards affluent buyers, more people are opting for electric cars to save money (New York Times) see more Toyota will unveil the new Prius as hybrids lose luster to battery EVs: Sales of the flagship hybrid have fallen to about 86,000 from a peak of 500,000 last year. (Bloomberg)
• The ‘next Warren Buffett’ curse isn’t always deadly: Eddie Lampert Jr., Chamath Palihapitia, Guo Guangchang, Cathy Wood, Sam Bankman-Fried couldn’t stand the comparison. Others, like the chairman of Berkshire Hathaway, who actually invest a bit fare better. (Bloomberg)
• TikTok has built itself into an advertising juggernaut: The Chinese-owned video app’s ad business is thriving, even as the digital advertising slowdown hurts Meta, Snap and other rivals. (New York Times)
• Secret Agents: The Americans in Notting Hill: A seller bemoans the house he offered at a “mid-range” price of £15 million and demands double that from the agent. (Bloomberg Wealth)
• Matt Levine explains the world: A ‘weird’ walk in the park with the Star Bloomberg columnist From Elon’s silliness to crypto’s “death-spiral convertible,” the “Money Stuff” author has become an indispensable translator of the complex, mysterious and eccentric. (information)
• First came the crypto crash. Now comes the taxpayer. Cryptocurrency investors may have to work in the coming weeks to lower their tax bills—and outrun an increasingly aggressive IRS (Wall Street Journal)
• Policies for adapting to the ‘new normal’ of the Anthropocene: Two sets of value systems underlying Western society trigger environmental problems The first is a belief in market capitalism. This belief embraces a free market, property ownership, shareholder rights, limited regulation, and unlimited economic growth to produce socially optimal outcomes such as economic prosperity or a cleaner environment. This value set leads us to believe in the solution to all problems; We can, for example, correct climate change by pursuing solutions that also make us money. (behavioral scientist)
• The Lonely Hearts Club Man: Men are losing friends and struggling to make new ones — and missing out on powerful health benefits in the process. Dude, what’s up? (BBC Science Focus)
• Eight Hours with Lindsay Lohan: in which the icon—and new Cosmo cover star—delves into her first Netflix project, surviving paparazzi in the early 2000s, her friendship with Al Pacino, married life in Dubai, and what comes next. (global)
Check out our Masters in Business interview this weekend with Marcus Shaw, CEO of AltFinance, which seeks to diversify alternative asset management. The firm was co-founded by Apollo, Ares and Oaktree with $90 million in seed funding for the initiative to recruit students at historically black colleges and universities.
FTX’s leaked balance sheet
Source: Visual Capitalist
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