Tuesday morning news drop
Corporate Transition When presenting as a man, this “tech bro” entrepreneur was the toast of Silicon Valley—until she stepped into boardrooms as a woman. (Elle)
Rogers’ family feud spotlights dual-class share structures A type of corporate equity structure used by several of Canada’s most prominent companies is once again under fire from critics in light of the current chaos at Rogers Communications Inc. (Global)
The Revolt of the American Worker The labor situation, by contrast, looks like a genuine reduction in supply. Total employment is still five million below its prepandemic peak. Employment in the leisure and hospitality sector is still down more than 9 percent. Yet everything we see suggests a very tight labor market. (New York Times)
CityLab University: Understanding Homelessness in America As economic disruption threatens to trigger a spike in housing instability, here’s an essential primer on the causes and consequences of a thorny urban problem. (CityLab)
A Secretive Hedge Fund Is Gutting Newsrooms Alden Global Capital, a secretive hedge fund that has quickly, and with remarkable ease, become one of the largest newspaper operators in the country. The new owners did not fly to Chicago to address the staff, nor did they bother with paeans to the vital civic role of journalism. Instead, they gutted the place. (The Atlantic)
Let It Be? No, Let’s Remix The Beatles Let It Be is a complicated album, initially intended as a simple way for the band to get back to its rock ‘n’ roll roots. Paul McCartney’s idea was to have the four Beatles document the process of writing songs, culminating in a live concert as part of a television special. The Beatles hadn’t performed live in three years, and with Ringo scheduled to do a film shoot, they had just about a month to make this all happen. (NPR)
After ‘Grand Theft Auto III,’ Open-World Games Were Never (and Always) the Same Twenty years ago, ‘Grand Theft Auto III’ set a new standard for open-world video games. The titles it inspired have grown bigger and busier, but it takes more than massive maps to give gamers the freedom they felt on their first trip to 3-D Liberty City. (Ringer)
How sensitive are we to rising rates Interest rates have been in the news again lately, with Scotiabank making an agressive forecast that inflation will stick around and the Bank of Canada will raise rates 8 times to 2.25% by the end of 2023. Others think we will likely see low rates for longer, or even get into negative rates like we’ve seen in much of Europe. The first thing to realize is that there’s no reason to believe that anyone has any information about where rates are going. Predictions of interest rates by experts (and non-experts) have been fantastically wrong for decades. (House Hunt Victoria)
Is Victoria overpriced? The CMHC says it isn’t—but we have no reason to believe them (Capital Daily)
