Friday morning news drop
Private Equity Doesn’t Want You to Read This: Not only do private equity partners make money even if their companies blow up; they also get a pretty good deal from the government on what they earn. Private equity funds generally charge their investors two different fees: a management fee of 2 percent of invested assets per year (funds are held for an average of about six years), and a “carried interest” fee that is 20 percent of any investment gains realized in the fund.(New York Times)
Ready or not, the supply chain transformation is underway. The dream of untrammeled global growth and trade has been cut short by supply chain snags that are now familiar to CEOs and everyday consumers alike. These disruptions are a problem not only structurally, but also strategically. Decades spent building global supply chains tuned for just-in-time performance have left companies vulnerable to shortages, geopolitical uncertainty and faster shifts in consumer demand. (The Hill)
Sam Taggart’s Hard Sell: A door-to-door salesman’s quest to rebrand his profession. (New Yorker)
The Place With the Most Lithium Is Blowing the Electric-Car Revolution: A California-sized piece of South America is stifling production of the metal at a time when battery-makers desperately need it. (Wall Street Journal)
How Russia Took Over Ukraine’s Internet in Occupied Territories: Occupied Territories (New York Times)
Serena Williams Leaves Tennis Just as She Played: On Her Own Terms Williams brought her own distinctive flair to tennis, challenging norms that governed fashion, power, decorum, race and gender. By being herself, Williams’s reach far exceeded the game. (New York Times)