Monday morning news drop
U.S. companies load up on costly inventories as new supply snarls loom in China Many U.S. companies are in the same position. Inventory levels have gone up in recent months as U.S. port congestion eased and supply chains have begun to untangle. Wholesale inventories surged 19.9% in February on a year-on-year basis, according to figures released by the Commerce Department on Thursday. They were up 2.5% from January. (Reuters)
Is Elon Musk really going to buy Twitter for $43 billion? Maybe? If you were in the “it’s possible Musk hasn’t really thought this through at all” camp, you may be right. In an interview today, Musk suggested that, just like his take-Tesla-private non-bid, he may not have the financing secured for this one, either. Meanwhile, Twitter’s board is reportedly considering using a so-called “poison pill” that would make it more difficult for Musk to amass more Twitter shares. (Vox)
Understanding the U.S. Housing Crisis in an Era of Inflation Economist Jenny Schuetz offers a practical guide to one of the biggest challenges facing renters and homebuyers: the skyrocketing cost of housing. (CityLab + Green)
How Homeownership Changes You: It’s not just a financial commitment. It can alter people’s relationships to a community, a place, and even time. (The Atlantic)
America’s Favorite Truck Is About to Test Tesla’s Dominance With this month’s release of the F-150 Lightning, Ford hopes to electrify new and traditional truck buyers alike, and—eventually—to replace its industry-defining gas-powered line. (Bloomberg)
Chris Dixon thinks web3 is the future of the internet — is it? Plus, why a16z has spent $3 billion on web3 startups (The Verge)
The Wolf of Crypto Jordan Belfort, the inspiration for “The Wolf of Wall Street,” is marketing himself as a cryptocurrency guru. (New York Times)
How to succeed Make yourself useful to smart, successful people. That’s how you should spend the first ten years of your career. Surround yourself with smart, successful people and then bet on them. That’s how you should spend the next ten years. And then you’re done, if you want to be done. (Reformed Broker)
A day in the life of (almost) every vending machine in the world What’s behind the indestructible appeal of the robotic snack? (The Guardian)
Why the Past 10 Years of American Life Have Been Uniquely Stupid It’s not just a phase. The story of Babel is the best metaphor I have found for what happened to America in the 2010s, and for the fractured country we now inhabit. Something went terribly wrong, very suddenly. We are disoriented, unable to speak the same language or recognize the same truth. We are cut off from one another and from the past. (The Atlantic)
The Looming Crash Facing Down BC’s Forest Industry Despite record government revenues, the province faces a grim reckoning for years of mismanagement. (Tyee)
Why navigating your COVID risk is now harder than ever BA.2 is evading protections like masks and vaccines, but experts say it's not time to abandon precautions (CBC)