Tuesday morning news drop
Rush to electric vehicles may be an expensive mistake, say climate strategists Move to replace fossil fuel fleet with EVs is essential, but there are things to do first (CBC)
The Cult of the Retail Trader Has Fizzled: The GameStop and AMC manias are long gone, with individual investor returns falling 40% this year and digital currency prices tumbling. (Businessweek)
FTX’s Bahamas Headquarters Was the First Clue: Bankman-Fried is just the latest in a long string of notorious characters who moved their business to the island nation, from the pirate Blackbeard to organized crime figures and assorted “financial wizards.” (Bloomberg) see
The Crypto Industry Struggles for a Way Forward: The implosion of the exchange FTX shows how an industry built in the wake of the 2008 financial crisis has drifted far from its original ideals. (New York Times)
So When Will Stocks and Bonds Un-Link? It’s a rarity for the two main asset classes, almost always negatively correlated, to perform a duet. Here’s what allocators can do about that. (CIO)
What’s Going On With the Housing Market? Home buyers and sellers are trying to make sense of a downturn that’s full of contradictions: Demand has seized up but supply is still low; prices are sliding but not plummeting; and no one can agree on what comes next. (Wall Street Journal)
How Web Platforms Collapse: The Facebook Case Study: (The Honest Broker)
If There Is a ‘Male Malaise’ With Work, Could One Answer Be at Sea? As concerns about labor force participation among American men mount, maritime transportation firms are desperate for new mariners. (New York Times)
What Ukraine’s Drone Strike Deep in Russian Territory Means: This is a turning point, especially in showing Russia’s vulnerability. (Slate)
We’re in Denial About the True Cost of a Twitter Implosion: Elon Musk’s platform may be hell, but it’s also where huge amounts of reputational and social wealth are invested. All of that is in peril. (Wired)
Chris Hayes: Why I Want Twitter to Live: Unlike message boards that are segmented by interest (Reddit, for example), Twitter is a place where all kinds of perspectives and obscure expertise are instantly accessible and overlapping. (New York Times)