Wednesday morning news drop
On Bullshit in Investing: The investing industry is ridden with bullshit. The most common and insidious form is over-optimism: offers of tantalizing risk/reward that defy any notion of reality, often based on misinformation or deception. Less common but even more dangerous are outright frauds. (Noahpinion)
Roaring US Rental Market Shows Early Signs of Slowing Down One-bedroom rents fell month-over-month in formerly hot cities like Miami, San Diego, Fort Lauderdale and Nashville. (Bloomberg)
Home Sellers Are Slashing Prices in Sudden Halt to Pandemic Boom: The rapid rise in mortgage rates is cooling demand, jolting markets from coast to coast. (Bloomberg)
Uber broke laws, duped police and secretly lobbied governments, leak reveals Aleaked trove of confidential files has revealed the inside story of how the tech giant Uber flouted laws, duped police, exploited violence against drivers and secretly lobbied governments during its aggressive global expansion. (Guardian)
Forget the Apocalypse, Let’s Talk About What Happened to Music: Why Music Doesn’t Sound Like Music Anymore. (Eudaimonia)
Why Music Has Lost Its Charms: There’s little doubt that corporations have stifled creativity. (Inc)
‘You’re looking for a lack of fluff’: Why Wimbledon uses 55,000 tennis balls a year Over the course of two weeks, Wimbledon goes through 55,000 balls, including the 1,700 per day delivered to the practice courts in unopened cans. “We have got a store that is absolutely rammed at the start of the tournament, and now even with a week left, it feels like all of the balls are gone,” said Andy Chevalier, Wimbledon’s ball distribution manager, who begins the storied event with 58,000 balls. (Los Angeles Times)
The “Great Resignation” in perspective: The rate of job quitting has reached highs not seen since December 2000. Dubbed the “Great Resignation,” the quit rates are too high to be explained solely by labor market tightening. Are workers taking new jobs or leaving the labor force entirely? (U.S. Bureau of Labor Statistics)
Even bosses are joining the Great Resignation: New data shows a growing number of managers are quitting (Vox)
The Great Resignation is not over: A fifth of workers plan to quit in 2022 The Great Resignation - the record number of people that have left their jobs since the beginning of the pandemic - shows no signs of abating. One in five workers plan to quit their jobs in 2022, according to one of the largest surveys of the global workforce. Although most are seeking higher salaries, over two-thirds say they are seeking more fulfilment in the workplace. (World Economic Forum)
