Quote of the Day
"Americans don’t realize how good they have it despite all the problems we have (and there are many)."
(Kyla Scanlon)
Crypto
- What changed Blackrock's idea about crypto? (coindesk.com)
- Why so many celebrities got caught up in the crypto craze. (nytimes.com)
Venture capital
- AI startups continue to gain venture interest. (news.crunchbase.com)
- Later stage companies are feeling the venture pullback. (venturebeat.com)
Threads
- Hands on with Meta's ($META) Twitter clone, Threads. (platformer.news)
- Bluesky just raised a new round of capital. (techcrunch.com)
- Just call a tweet a tweet. (theverge.com)
Finance
- GTCR's purchase of WorldPay is the biggest PE deal of the year, so far. (axios.com)
- Some banks are holding the line on job cuts. (economist.com)
Fund management
- Avantis Investors is adding assets and launching new ETFs. (riabiz.com)
- Bill Ackman's Pershing Square Holdings persistently trades at a big discount to NAV. (institutionalinvestor.com)
- Private credit managers continue to get snapped up. (ft.com)
Housing
- The housing downturn already seems to be over. (awealthofcommonsense.com)
- The housing market is in a very real way locked up. (ritholtz.com)
- 30-year mortgage rates are now well over 7.0% (cnbc.com)
Global
- There is a boom in the number of space-related startups in India. (nytimes.com)
- The war has taken a toll on Ukraine's scientists. (theconversation.com)
Economy
- The quit rate continues to slow. (wsj.com)
- The June ADP private employment report was a blow out. (calculatedriskblog.com)
- Initial jobless claims are nearing a recession signal. (bonddad.blogspot.com)
- Job openings are down year-over-year. (calculatedriskblog.com)
- The labor market is threading the needle. (axios.com)
Earlier on Abnormal Returns
- Longform links: flawed time machines. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: types of uncertainties. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
Mixed media
- Seven economics books worth checking out including "For a Dollar and a Dream: State Lotteries in Modern America" by Jonathan D. Cohen. (nextbigideaclub.com)
- Some health and science books to read this summer including “For Blood and Money: Billionaires, Biotech, and the Quest for a Blockbuster Drug” by Nathan Vardi. (statnews.com)
