Saturdays are all about longform links on Abnormal Returns. You can check out last week’s linkfest including a look at Apple’s transformation into a subscription-based company.

Quote of the day

“We need a dynamic capitalist economy that gives everybody a justified belief that they can share in the benefits. What we increasingly seem to have instead is an unstable rentier capitalism, weakened competition, feeble productivity growth, high inequality and, not coincidentally, an increasingly degraded democracy.” – Martin Wolf

Excerpts

Investing

Longreads