Quote of the Day
"The best evidence that artificial intelligence is displacing tech workers comes from the fact that the industry that has most thoroughly integrated AI is the one with such unusually high unemployment. Tech leaders have said publicly that they no longer need as many entry-level coders."
(Rose Horowitch)
Crypto
- What if stablecoins don't put a dent in payments? (on.ft.com)
- Why Coinbase ($COIN) bought token manager Liquifi. (fortune.com)
- On the dangers of the crypto treasury model. (theblock.co)
- The Trump family's wealth has essentially been tokenized. (bloomberg.com)
Private assets
- Investors need to understand how semi-liquid funds work. (morningstar.com)
- Some red flags when it comes to the growth of private assets. (blogs.cfainstitute.org)
- Can Vanguard help bring down costs for private assets? (economist.com)
Work
- Microsoft ($MSFT) is laying off some 9000 workers. (cnn.com)
- It's official. AI is coming for white collar jobs. (wsj.com)
- What CEOs are saying. (sherwood.news)
- A spot on a corporate board is no longer so cushy. (fa-mag.com)
Health care
- If you need to pay for tax cuts, there's really one pot of money to go after: health care. (noahpinion.blog)
- Fewer Medicaid members means less revenue for these companies. (sherwood.news)
- It's not must Medicaid. Medicare spending is also going to get cut. (prospect.org)
- When hospitals close, everyone is hurt, not just the uninsured. (statnews.com)
Tariffs
- Tariff exemptions are, in practice, political. (klementoninvesting.substack.com)
- Why this French company is sending shirts bound for the U.S. to a warehouse. (nytimes.com)
Economy
- The June NFP showed continued jobs growth and a 4.1% unemployment rate. (calculatedriskblog.com)
- Of late, labor force participation is falling. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Longform links: technology as a vector. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Personal finance links: ready for help. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)







