Wednesday news drop
Out at the bike park some random person stops by and asks if he can have 30 seconds of my time for a business pitch. I try to say no, but he proceeds to inform me that NFT’s (non-fungible tokens) are all the rage and that I have to get some. Meanwhile I hear some other random people shout out that Bitcoin is the future global currency, while another person chirps that it is going to be the next Beanie Baby fad. Kids these day say NFT’s are the future. I guess every generation has had their share of confusing and uncertain times.
The climate controversy surrounding NFTs There’s a case for more sustainable crypto art, but it’s hotly contested (Verge)
Still haven't learned what NFTs are? Well, this one just sold for $69M Digital artist Beeple now one of the top 3 most valuable living artists, auction house says. (CBC) Meanwhile a digital-only artwork has sold at Christie's auction house for an eye-watering $69m (£50m) - but the winning bidder will not receive a sculpture, painting or even a print. (BBC)
Asset bubbles and where to find them There's only one sure way to identify an asset bubble, and that's after the bubble has burst. Until then, a fast-appreciating asset may seem overvalued, only for its price to keep rising. Anyone who has tried to breathe one last breath into a balloon and finds it can accommodate two or three more breaths can relate. (Vanguard)
Howard Marks: 2020 In Review We are left to contemplate the jaw-dropping list of extremes compiled during this turbulent year: We had a health emergency, an ailing economy, the most generous capital market of all time, and strong stocks and bond markets. This seemingly anomalous relationship between the pandemic and recession on one hand and the strong capital and stock markets on the other can be explained by the Fed’s and the U.S. Treasury’s aggressive actions. (Oaktree Capital)
Wikipedia Is Finally Asking Big Tech to Pay Up The Big Four all lean on the encyclopedia at no cost. With the launch of Wikimedia Enterprise, the volunteer project will change that—and possibly itself too. (Wired)
Not tonight, darling: how the world lost its libido – and how it can get it back After a year of lockdowns, home schooling, social distancing and stress, sex drives are suffering – among both couples and single people. Can we do anything about it – or do we just have to wait till the end of the pandemic? (The Guardian)
MLB Can't Wait Any Longer to Fix Its Pace of Play Crisis Willy Adames stepped to the plate to bat against Julio Urías. His job: find any way to get on base, which would bring the tying run to the plate for the Tampa Bay Rays in Game 6 of the 2020 World Series. If he failed, their season was over, and the Los Angeles Dodgers would be world champions. What happened next provided a fitting end to not just the game, but also another season in a decade of baseball’s declining entertainment value. (Sports Illustrated)