10 Weekend Reading – The Big Picture

The weekend is here! Pour yourself a mug of Bean Box coffee, settle into the couch, and get ready for our long-form weekend read:

The Crypto Story: Where It Came From, What It Means, and Why It Still Matters by Matt Levine. There was a moment not too long ago when I thought, “What if I have this crypto thing wrong?” I’m a skeptical idealist who, if I’m honest, hasn’t always understood this alternate universe that’s been spreading and expanding for over a decade now. If you are a disciple, this new dimension is the future. If you’re a skeptic, this upside-down world is a modern Ponzi scheme that’s about to end badly—and evidence of the long-overdue end of the recent “crypto winter.” But crypto has dug itself into money, technology and our heads. And if crypto doesn’t go away, we’ll try to figure it out. This is only the second time in Businessweek’s 93-year history that a single writer has written a cover-to-cover issue of the magazine. (Business Week)

Austin builders couldn’t finish the houses fast enough. Now their products are stacked. As the pandemic-induced buying frenzy cools significantly, new luxury homes may remain on the market. (Wall Street Journal)

Beyond disaster: A new climate reality is coming on the scene: You can never really see the future, only imagine it, then try to make sense of the new world when it arrives. (New York Times)

Billionaire investor Barry Sternlich says Jerome Powell and ‘his merry band of lunatics’ are destroying faith in capitalism and leading us to ‘social unrest’ “So the rich guy who loses 30% is still rich, right? But the poor guy who loses that hourly job, he’s going to say: ‘Capitalism is broken, it didn’t work for me. I lost my job. And this whole thing. The system has to go out the door,'” Sternlicht told Fortune. “You’re going to have social unrest,” he added. “And that’s only because of Jay Powell and his merry band of lunatics.” (luck)

Why Don’t Compromise Signal Encryption, with President Meredith Whittaker: Signal messages are more private than iMessage and WhatsApp. Here’s how. (edge)

Half the world has a clit. Why don’t doctors study it? Medical experts say the organ is “totally ignored by almost everyone,” and this omission can be devastating to women’s sexual health. (New York Times)

The Matter with Things by Ian McGilchrist Richard Gault reviews the magnum opus of a remarkable thinker who lays out a detailed argument for world unity. (Beshara magazine)

Most Americans don’t know about Omicron Covid Booster: Confused messaging and epidemic fatigue may be behind the trend. (grid)

How Marcus Smart’s Support for Cancer Patients Changed Children’s Hospitals: Smart takes things quietly, spending one-on-one time with the patients he meets so he can make a real connection. After her mother died in September 2018, she hosted a private dinner for families in Boston Children’s Hospital housing and sat down with each person there. (athletic)

Bono is still trying to figure out U2 and himself: Different people have different bonos including man himself. He is, as you may know, the lead singer of U2, one of the most successful and longest-running rock bands of all time. He is also a prominent activist, having helped lead campaigns that have resulted in some of the world’s richest countries forgiving debt to the world’s poorest and raised billions of dollars in AIDS relief for African countries. “It’s not like when you’re a musician you’re creative and when you’re an activist, you’re an activist. That’s why I wrote the book: these different characters are part of me.” (NYT Magazine)

Be sure to check out our Masters in Business interview this weekend Jeremy! Wharton professor Jeremy Siegel and Jeremy Schwartz, chief investment officer of $75 billion Wisdom Tree Asset Management. Siegel is the author of Stocks for the Long Run; Schwartz is his research partner/editor. The two discuss the Sixth Edition of SFTLR, the latest and most extensively expanded edition of the investment classic.

For diving FAANG stocks, it’s the end of an era

Source: Wall Street Journal

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