Tuesday morning news drop
Bitcoin’s Climate Problem As companies and investors increasingly say they are focused on climate and sustainability, the cryptocurrency’s huge carbon footprint could become a red flag. One Bitcoin transaction is the “equivalent to the carbon footprint of 735,121 Visa transactions or 55,280 hours of watching YouTube,” (New York Times)
EVs Could Make Dealerships a Thing of the Past, Too When cars don’t need repairs or in-person updates, it changes the whole sales model (Bloomberg)
A Once-In-A-Career Occurrence If you were stalking the value trade but were waiting for the coast to be clear, you probably felt like you missed the move. Regime shifts happen fast in the stock market. Especially today’s stock market. (Irrelevant Investor)
Wall Street Hype Has Evolved Since the Dot-Com Era Similarities are everywhere, but investors need to understand five key differences. (Bloomberg)
Why You Should Be Wary of Claims That the Stock Market Is in a Bubble Bubbles, bubbles everywhere. So say an increasing number of Wall Street professionals, who see the lofty prices of everything from equities to Bitcoin, new homes to the soaring value of newly public companies as clear signs that the financial system is again on the verge of a major reset similar to what happened in 2000 and 2008. (Time)
Canada’s Construction Investment May Be Pausing To See If Work-From-Home Sticks The consensus is work-from-home is temporary, but real estate developers might not be so sure. Statistics Canada (Stat Can) data shows construction investment reached a high in January. The trend is driven by residential construction investment, which reached a new record. Non-residential construction showed minimal growth, and is now effectively negative in real terms. (Better Dwelling)
Fredrik Eaton saw the demise of his family’s department store empire Less than a decade after Mr. Eaton’s tenure as chairman, president and CEO of the T. Eaton Co. Ltd., the once-dominant retailer sought bankruptcy protection, having fallen out of step with the times. The company had been thrashed by its competitors, including Sears and Walmart, which arrived in Canada in 1995. (Globe and Mail)
What Perks Does a Twice-Impeached President Deserve? Former leaders get libraries, Secret Service details, and intelligence briefings. But, after Trump's four years of upending norms, the usual honours may no longer apply (Walrus)
How Air Jordans Won Over The World The outstretched image of Michael Jordan in logo form – the famed “jumpman” motif – is a modern artefact. Few people fail to recognise his sprawled 6’6” figure, seen wearing the namesake Air Jordan sneakers he created with Nike, reaching for a ball at an upright angle. It’s the silhouette of a man that revolutionised basketball and slam-dunked his way to fame, all the while popularising a certain pair of shoes. (Vogue)
