Tuesday morning news drop
NBA owners, mum on China relationship, have more than $10 billion invested there ESPN examined the investments of 40 principal owners and found that they collectively have more than $10 billion tied up in China. The owners’ myriad ties to the world’s second-largest economy leave their businesses vulnerable if they get on the wrong side of the Chinese government or the public there, according to the analysis. (ESPN)
As Global Markets Shudder, Investor Sentiment About China Ranges from Exuberant to Highly Cautious: “It’s important to distinguish between what’s happened with Russia and what might happen with China,” said Andy Rothman, chief investment strategist at Matthews International. (Institutional Investor)
The Math Prodigy Whose Hack Upended DeFi Won’t Give Back His Millions An 18-year-old graduate student exploited a weakness in Indexed Finance’s code and opened a legal conundrum that’s still rocking the blockchain community. Then he disappeared. (Bloomberg)
A $60 Billion Crypto Collapse Reveals a New Kind of Bank Run: Terra’s coins were supposed to be the future of money. But they relied on confidence—which can vanish in an instant. (Bloomberg)
How much longer can Google own the internet? The synonym for search finds itself in big antitrust trouble. (Recode)
The Age of Extinction Is Here — Some of Us Just Don’t Know It Yet We’re Crossing the Threshold of Survivability — And There’s No Going Back (Eumondia)
The European country where “replacement theory” reigns supreme How Hungary turned replacement theory into state ideology. (Vox)
How North Korea Went from ‘Zero COVID’ to 1.2 Million Cases in 72 Hours This time last week, North Korea was still claiming to be one of three COVID-free countries worldwide. Now it’s facing a public health catastrophe. (Vice)
The air conditioning paradox How do we cool people without heating up the planet? (Vox)
Are luxury sneakers getting too expensive? Is it work paying $2,000 for a sneaker that only cost a few dollars to make? (High Snobiety)