Thursday morning news drop
Clash of the Islanders There are 262 homes on the picturesque Toronto Islands, and the battle to get one is epic. Inside the fight over a prime property that’s ripping the tight-knit community in two (Toronto Life)
Cancel Amazon Prime The subscription service is Amazon’s greatest—and most terrifying—invention. (Atlantic)
Value Investors Don’t Need to Avoid Growth Companies. In Fact, Doing So Can Hurt Returns. Applied Finance argues that despite their prices, growth companies may very well be undervalued in terms of their intrinsic value. (Institutional Investor)
World’s Financial Hubs Are Struggling to Return to the Office The journey back to your desk is shaping up to be slow and indirect. Roughly 15 months after locking down to ward off Covid-19, several of the globe’s key financial centers are struggling to get employees back to their offices. Workplace activity in London, New York and San Francisco is still 50% below its normal level, according to mobility data from Google, which tracks the locations of its users. (Bloomberg)
Millennials, the Wealthiest Generation? Believe It The world has changed since boomers were young adults, and so has the value of housing, education, and a steady job. (Bloomberg)
Texans Are Being Asked to Conserve Power. Are the State’s February Energy Problems Back? On Monday, many Texans began receiving alerts asking them to conserve energy. The request followed significant drops in thermal energy output and a blown transformer at a Texas nuclear plant amid record June demand for power in the state as an early heatwave hits the state. The situation may make you wonder: Is what happened in February happening again, only with extreme temperatures in the reverse direction? (Slate)
Alas, John McAfee, We Hardly Knew Ye The erstwhile ‘spokesman for crypto’ has gone to meet his maker. “I regret nothing,” was his final tweet. Here’s an appreciation, sort of. (Decrypt)