Climate Change and Canadian Real Estate Markets

Monday morning news drop

• Climate risk scores could reshape Canadian real estate markets, some experts say 'We run the risk of people being trapped,' U.S. professor says (CBC)

• Canada's biggest public pensions heavily investing in fossil fuels, new report suggests Pension funds say oil and gas investments can be leveraged in transition to cleaner energy (CBC)

• It’s hard to be a moral person. Technology is making it harder. Digital distractions such as social media and smartphones wreak havoc on our attention spans. Could they also be making us less ethical? (Vox)

• Still Unsure About Getting The COVID-19 Vaccine? Start Here. We’ve collected some of the most common concerns with vaccination mentioned by people who are vaccine hesitant, and we’ve provided evidence-based responses to each one. If you or someone you know share any of these concerns, click through to see what information is out there to help you make this important decision. (FiveThirtyEight)

• The Lucrative Business of Stoking Vaccine Skepticism How misinformation peddlers are using crowdfunding sites to bankroll their work. (Slate)

• Unvaccinated America, In 5 Charts So who, exactly, are we talking about? Three in 10 American adults remain unvaccinated, according to the latest survey from the KFF. But they’re not a monolith — their reasons, backgrounds, politics and willingness to eventually get vaccinated all vary. (Fivethirtyeight)

• What Are Stores Even Thinking With All These Emails? It feels like every company and organization I’ve ever transacted with sends me email every week. Some every day, even. Some multiple times a day. My mortgage broker emails on my birthday and holidays. So does my dentist. Certain retailers email much more often. (The Atlantic)

• Why A Secretive Chinese Billionaire Bought 140,000 Acres Of Land In Texas Sun’s decision to invest in Texas also highlights the difficult situation facing China’s moguls. Over the past few years, the Chinese Communist Party appears to have grown more antagonistic toward private enterprise and wealthy business people. In recent months Chinese authorities reined in globetrotting billionaire Jack Ma, moved to restrict overseas listings and ordered educational companies to become non-profits. Tycoons like Sun, who thrived under Chinese state-backed capitalism, may be feeling pressure to move capital abroad as they grapple with the shift in political winds. (Forbes)

• How the explosive growth in satellites could impact life on Earth Satellites are set to grow by 1,000%+ in the next decade. They might help us predict pandemics and save the planet. (The Hustle)

• Why China’s crypto cowboys are fleeing to Texas Tracking the Bitcoin bros seeking cheap power, lax regulation, and Austin’s best brisket. (Rest of World)

Videos of the Week, Inflation, and a Terrible Time for Savers

Friday morning news drop and videos of the week

• MacKenzie Scott’s Money Bombs Are Single Handedly Reshaping America With almost $8.6 billion in gifts announced in just 12 months, Scott has vaulted to the tippy top of philanthropic giving, outspending the behemoth Gates and Ford Foundations’ annual grants — combined. But, for someone who is single handedly reshaping nonprofits, Scott, who declined to comment for this story, has only given the public glimpses into the thinking driving her decisions. (Bloomberg)

• U.S. Inflation Is Normalizing: The temporary inflation spike associated with reopening is already beginning to fade as prices that were depressed during the pandemic continue to normalize and as consumer demand for motor vehicles continues to moderate.. (The Overshoot)

• This Is a Terrible Time for Savers In an upside-down world of financial markets, expected returns after inflation are at record lows. (New York Times)

• Smart Cities, Bad Metaphors, and a Better Urban Future Shannon Mattern’s new book, A City Is Not a Computer, digs into the data, dashboards, and language that keep people from building better, safer communities. (Wired)

• The devastating wildfires of 2021 are breaking records and satellites are tracking it all

  Wildfires in Siberia have broken a record for annual fire-related emissions of carbon dioxide. (Space)

Videos of the Week

Chapter 11 tv 011

Back to Oz 2021 John John FlorenceFun on the road. Follow the moments between the @World Surf League events in Newcastle, Narabeen and Margaret River.

XXL Waves At Teahupoo With Nathan Florence, Jack Robinson, And More The world's best big wave surfers including Nathan Florence, Lucas Chumbo, and more pull into massive bombs at Teahupoo in Tahiti.

GRIFFIN PAULSON | FREAK MODE | RADIO BIKES x TITLE MTB It takes dedication to push the bar. Constantly living on the edge that is falling to the dirt or successfully riding out. Griffin has put in the work; devoting his life to the sport and it’s gone to show.

QUEEN CITY CINEMA - CINEMA BMX We sent the squad on down to Queen City, Cincinnati, Ohio, for a week of nothing but good times and bangs in the streets. Watch Nathan Williams, Corey Martinez, Dakota Roche, and Garrett Reynolds put their personal touch on plenty of classic rustbelt gems.

YELLOW | Odyssey BMX Nothing but YELLOW spots w/ the crew and a bunch of the homies. Riders - Justin Spriet, Travis Hughes, Hilario Olivos, Broc Raiford, Zach Krejmas, Gary Young, Jarren Barboza, Tom Dugan, Aaron Ross, Stone Kepler, Chase Krolicki, Scott Marceau, Preston Okert, Barney, Shmalec, Speedy G, Poor Homie Rich, Boyd Hilder, Jacob Cable, Denim Cox, Corey Walsh, Matt Nordstrom, and Murray Loubser.

Kyle Walker's "RUBY" Vans Part Kyle kills a trove of fresh and iconic spots with his classic repertoire before grinding rails too big to measure. SOTYs are made of somethin’ else...

David Reyes' "Thank You" Part David joins Daewon and Torey at Thank You with a part full of hefty rails, ditch dives, darkslides and a HEAVY NBD at Clipper to close the curtains.

Hermann Stene's "Real" Part Cuttin’ down Cardiel Hubba, piecing together tasteful lines and handling an absurd ramp to rail, Hermann’s versatility is a treat to watch. Don’t miss this.

Stoke the Fire - Official Trailer TGR’s Stoke the Fire explores our athletes’ evolution within skiing and the pure joy that manifests from that process. The stoke means different things to different people based on where they are in their evolution.

China Crackdown, Predicting Earthquakes, and the Price of Coffee

Thursday morning news drop

• There’s a big shift hitting the housing market The rush of buyers into the housing market during the pandemic absolutely crushed housing inventory—the number of homes on the market—with that figure falling for 12 consecutive months. By April, housing inventory was down a staggering 53% from a year earlier. However, the trajectory has flipped: For two straight months the number of homes for sale has gone up. Homes listing on realtor.com rose 3% in May, then again by 9% in June. Now, new home sales are falling—their pace in June was the slowest since the onset of the pandemic. Every indication is that the market is shifting a bit in buyers’ favor. Why the sudden cooling? Home shoppers are finally showing some reluctance to pay top dollar. (Fortune)

• Will the Pandemic Productivity Boom Last? Fewer workers are making more stuff. If it lasts, that’s big news for the economy of the 2020s. (Upshot)

• Want to Improve Your Career? Become an Uncertainty Killer Reduce uncertainty for others as much as you can. Become an uncertainty killer. That’s it. I guarantee that if you can make other peoples’ lives more certain, they will sing your praises. You will build trust at every turn and create allies wherever you go. People may even publicly call you “a machine” and impart positive attributes to you that you may not actually have. (Of Dollars And Data)

• Inside The Coronavirus Haul Of A Wall Street Whiz Kid “Crisis Investing: How To Maximize Return During Market Panics,” which showed that the best time to deploy money into the market was when high yield spreads were above 600 basis points, a gauge of extreme fear. Rasmussen’s new fund called the Verdad Opportunity Fund, which would draw investors’ capital when junk bond spreads blew out to such levels, and invest in small, undervalued companies. (Forbes)

• Why Xi Jinping Waited Years to Launch His Crackdown on Tycoons: As China investors search for clues about which industries might be next in President Xi Jinping’s crackdown, they’re also pondering another question: Why now? U.S. tensions, Xi’s bid for third term help explain timing ‘The crackdown is just the beginning — it’s the prelude’ (Bloomberg)

• Is Taiwan Next? In Taipei, young people like Nancy Tao Chen Ying watched as the Hong Kong protests were brutally extinguished. Now they wonder what’s in their future. (New York Times)

• There’s an Earthquake Coming! The newest warning systems give users ten seconds’ notice. What can be done in that time? (New Yorker)

• How Your Cup of Coffee Is Clearing the Jungle It seemed like an easy crime to stop: protected Indonesian rainforest, cut for coffee farms. But a globalized economy can undermine even the best-laid plans. (New York Times)

Housing Bubble and Mortgage Rates, a Balanced Portfolio, and Brooksy

Wednesday morning news drop

• Ask an Expert: Is the Housing Bubble Going to Burst? Mortgage rates are low and housing prices keep rising. Is an end in sight? (Walrus)

• Diversifying Your Portfolio Isn’t Zesty, But It Works Forget about multiplying money 10 times in a short period and stick with the steady gains. (Bloomberg)

• Is an Equal-Weighted Stock Index Better Than a Tech-Heavy One? Nope, says Northern Trust’s asset management unit. But they both have big drawbacks. (Chief Investment Officer)

• Hackers Steal $600 Million in Likely Largest DeFi Crypto Theft; Hackers perpetrated what is likely the biggest theft ever in the world of decentralized finance, stealing about $600 million in cryptocurrency from a protocol known as PolyNetwork that lets users swap tokens across multiple blockchains. Security researchers are trying to track down the attackers as they have begun moving the funds to decentralized exchanges. (Bloomberg)

• To Save Ourselves, We’ll Need This Very Different Economy What would ‘getting serious’ about the survival of civilization look like? (Tyee)

• Plant-Based Fish Is Rattling the Multibillion-Dollar Seafood Industry Beyond and Impossible showed the potential for plant-based proteins. Now tomatoes are coming for tuna (Businessweek)

• How ‘The Pet Revolution’ Unleashed A New Top Dog In America Dogs have come a long way since the days when they were put to work on farms and fed scraps. They’ve even come a long way since just a few decades ago when they spent their nights in the doghouse. Dogs now sleep inside on orthopedic beds. They get top-notch healthcare and visits to psychiatrists who prescribe them antidepressants. They see acupuncturists and psychics. They get massages and spa days. They wear sweaters. (NPR)

• 'No doubt' Canada now in 4th wave of COVID-19 as cases spike across much of the country Vaccines, restrictions may ward off worst outcomes as delta spreads — but pressure on hospitals still possible (CBC)

• Why Can’t Anti-Vax Athletes Just Tell the Truth? Dissecting the many bogus reasons sports stars are sabotaging the fight against COVID-19 (Inside Hook)

• The Bryson dilemma: DeChambeau caught in no-win situation with fan abuse The tournament slipping away, the frustration mounting, Bryson DeChambeau prepared to take out all his aggression on his tee ball. His group was on the clock. He’d made a momentum-killing bogey on the 15th hole. And a CBS cameraman had just walked up to apologize for keeping his camera fixed on him a beat too long, prompting DeChambeau to give a sarcastic wave. A single voice – a female fan – broke the dramatic tension. “Let’s go, Brooksy!” (Golf Channel)

The Market’s Best Days Are Behind, Condo Buildings, and Inflation

Tuesday morning news drop

• Nervous S&P 500 Traders Bet the Market’s Best Days Are Behind It The relentless rally in U.S. equities has driven bears almost into extinction. But to say bullishness is ubiquitous would be a stretch. From options trading to stock preferences to the direction of retail money flows, signs of trepidation are budding in a market where $27 trillion has been added to equity values in a little over a year. (Bloomberg)

• The Mystery of the Missing Workers, Explained A retirement boom, a turn for the worse in the opioid epidemic, and the rising cost of child care all stand in the way of employers seeking to fill open slots. (BusinessWeek)

• How the Robinhood Era Is Changing Stock-Market Investing When investor communities, not institutions, drive security pricing. (Morningstar)

• Superstar Fund Managers Are Launching ETFs. Are They Worth the Price? Actively managed ETFs have pros behind the scenes making investing decisions, but they’re also more expensive. (Bloomberg)

• How Condo Buildings End Aggressive developers looking for a way in—or desperate homeowners looking for a way out. (Slate)

• Understanding inflation measurement and housing How could it be that average home prices are up 18% year over year while inflation is only 3.1% as of the June figure? Inflation has been running a little hot lately, with the latest reading of 3.1% above the official 2% target. But as with real estate, to understand what’s going on, you first want to zoom out to put the data into context. (House Hunt Victoria)

Climate Change, Crypto, the Housing Boom, and Lil Nas X

Monday morning news drop

• Climate Scientists Reach ‘Unequivocal’ Consensus on Human-Made Warming in Landmark Report The first major assessment from the UN-backed Intergovernmental Panel on Climate Change in nearly a decade sees no end to rising temperatures before 2050. (Green)

• Going for Broke in Cryptoland It’s hard to think of another financial craze in which so many people poured so much into entities with so little intrinsic value. Few hype coins have any utility as currency. Good luck buying lunch with one. Many are minted in numbers rarely seen outside astronomy books — trillions, quadrillions — which dooms them to vanishingly tiny prices. Some hype coins mint instant millionaires. Others go bust. Why not take a chance? (New York Times)

• ‘Green Bitcoin Mining’: The Big Profits In Clean Crypto Bitcoin is infamous for wasting enough electricity to add 40 million tons of carbon dioxide to the atmosphere a year—but now, a growing cadre of U.S. miners are developing green, and lucrative, new strategies worth a fortune all their own. (Forbes)

• Simple Explanations For Complex Topics. One of the biggest residential real estate brands in the world is getting hammered in the midst of one of the biggest housing booms we’ve ever seen? What gives? I posed this question on Twitter this past week… (Wealth of Common Sense)

• The Pandemic Business Boom COVID-19 killed countless businesses. Surprisingly, it also launched a whole bunch of new ones. (The Atlantic)

• The Big Money Behind the Big Lie Donald Trump’s attacks on democracy are being promoted by rich and powerful conservative groups that are determined to win at all costs. (New Yorker)

• What’s Rarer Than Gold? Making It Onto A Wheaties Box. The Wheaties box endures as a symbol of athletic achievement for the same reason it continues to be a successful marketing strategy for the brand: Wheaties has been doing this for a very long time, and it has been incredibly discerning in who graces its cardboard. If 100 athletes were on the box every year, it wouldn’t be nearly as prestigious. (FiveThirtyEight)

• Lil Nas X, DaBaby and the question of homophobia in hip hop Lil Nas X is challenging what it means to be a hip-hop star — but was he really the first? (CBC)

• How Dua Lipa Shut Down the Trolls and Conquered International Pop Before she rocketed into the pop stratosphere, before she delivered a record of club catharsis to a world stuck dancing in its bedroom, before she broke the billion-stream barrier, before the Grammys…Dua Lipa had to learn to believe in her own powers. (Vanity Fair)

All 24 medals Canada won at the Tokyo 2020 Olympics in 4 minutes

Videos of the Week, Surplus Weed, Economic Recovery, and BC Unemployment

Friday morning news drop and videos of the week

• What Do You Do with a Billion Grams of Surplus Weed? Cannabis legalization was supposed to be a licence to print money. Three years on, nobody is turning a profit (Walrus)

• The chip shortage is getting worse The semiconductor supply crunch came for cars and phones. Now consumers are facing higher prices. (Vox)

• The speed of the US economic recovery has been record-breaking. It won’t last. Despite the continued optimism about the country reopening, US economic growth is already starting to slow. Yes, year-over-year comparisons to the catastrophic conditions in the spring of 2020 have been puffing up recent economic growth data. But it’s important to understand that there’s much more to the story from an economic cycle perspective. That’s our conclusion not only from the data we regularly monitor that define economic cycles — like GDP and jobs — but also economic indicators that foresee peaks and troughs in those cycles. (CNN)

• My Investing Nightmare: If I had to pick a market to represent my investment nightmare, I would pick Spain from 1973-1983. For the uninitiated, from the mid 1970s to early 1980s Spain experienced high inflation, high unemployment, and sluggish growth that destroyed their capital markets over the course of a decade. And, as the chart below shows, it was a slow ride down for those 10 years: (Of Dollars And Data)

• Deal Of The Century: How Michael Dell Turned His Declining PC Business Into A $40 Billion Windfall After years battling Silicon Valley skeptics and Wall Street adversaries, Michael Dell has pulled off the deal of the century, borrowing and flipping his way to a $50 billion fortune. His biggest ambitions lie ahead—and they have nothing to do with space. (Forbes)

• Just-in-Time Manufacturing? Not With Rickety U.S. Infrastructure Tortured logistics at one factory in Pennsylvania reveal the economic toll of strained highways and ports. (Businessweek)

• Is Hot Vax Summer Even Happening? “The rumors of this ‘casual hookup summer’ were vastly overstated,” said one dating app’s director of relationship science. (Vice)

• ‘The Ascent Was Just Wild’ – The Oral History of The Strokes’ ‘Is This It’ On the 20th anniversary of modern rock’s most seminal album, VICE spoke to its producer, publicist, journalists and the guy who shot the “arse cover.” (Vice)

Videos of the Week

This is Home: Matt Hunter | SHIMANO For many people, mountain biking is a migratory sport. Once you get a taste for the trails, moving closer to ride every day is a no brainer for those who choose the lifestyle. For Matt Hunter, migration was never necessary. He grew up in Kamloops, where the surrounding landscape was an ever-present inspiration for his own riding.

2021 Dunbar Summer Series Kicking Horse DH Nationals

Dusty Days With Colby Pringle || Riding in Pemberton & North Vancouver

We used to ride Biketrials 2 guys out on theyr bikes, just having fun and enjoying the sun, trying out some old skills on the bikes

NIKITA DUCARROZ - BMX HERITAGE

After X Games | Monster Energy BMX It's like an X Games recap with what happened after. After a year of no visit to the states, we got an international crew (Lewis Mills, Felix Prangenberg, Alex Donnachie) hitting the streets of San Diego with Kevin Peraza and a few spots in between.

CULTCREW/ AUSTRALIA 2021 / Jason Watts, Callan Stib, Benn Pigot, Zac Miner

Teen skateboarders sweep Olympic medals | Women's Street Final | Tokyo 2020

Where The Hell Did This Girl Come From?! | Rayssa Leal 12-year-old Rayssa Leal took the world by storm 5 years ago with her viral fairy heelflip clip, and last year she placed first in Street League and fourth in X Games. Give her another five years and she'll rule the world… it must be nice.

The Yuto show ! April Skateboards

Nolan Miskell's "Blood Wizard" Part Nolan hops out the gate with an earth-shaking slam, then proceeds to attack spot after spot before taking down a deadly circle bar.

Harry Lintell's "Northern Grit" Part Harry’s quest for crust bears fruit, with a stream of clips from the dilapidated spaces around Manchester, Leeds and Liverpool. Watch the concrete crumble.

Chris Blake's "Fire Tonight" Part Riding windows, smashing bins and scraping wallies, Chris systematically shuts down spots from FL to LA.

The Bond Market, Green Bonds, Fossil Fuels, and China

Thursday morning news drop

• Companies Pay New Workers Higher Wages, and Current Employees Ask, ‘What About Us?’ As companies like Chipotle and Sodexo increase the pay floor for entry-level employees, they are also rethinking wages of long-time staffers and managers. U.S. wage growth among job switchers increased 5.8 percent since June 2020 according to the latest ADP Research Report while overall wage growth decelerated to 2.3 percent. (Wall Street Journal)

• 'Some just say I've had enough': Labour shortage holding back hospitality industry There’s a shortage of housekeeping staff across the industry, with many flocking to health care and seniors’ homes for more stable employment. And that means only 80% of hotel rooms will be ­available on weekends, and about 50% during the week. (Times Colonist)

• Yes, bonds still belong in your portfolio, and this is why There has been a large distaste among investors for maintaining Treasury bond exposure in the asset mix. The argument typically points out the low level of yields, or how stretched valuations are (not that it’s stopped equity investors), or how much more money they can make in the stock market. Is investing really that simple? And are concentrated, non-diversifying strategies really the most efficient way to build returns? The answer is no. (Globe and Mail)

• Canadian companies are issuing new bonds at a record pace Canadian companies are on track to sell a record volume of bonds in their own currency this year, taking advantage of low rates to refinance and fund post-pandemic investments. (Bloomberg)

• Where’s All That Green Bond Money Really Going? Overall issuance is skyrocketing, but transparency is hard to come by. (Bloomberg)

• Big investors are divesting from fossil fuels – should you? (Morningstar)

• Europe Unveils Plan to Shift From Fossil Fuels, Setting Up Potential Trade Spats Europe Unveils Plan to Shift From Fossil Fuels, Setting Up Potential Trade Spats (New York Times)(New York Times)

• “This Is Going to Change the World” As the new millennium dawned, a mysterious invention from a charismatic millionaire became a viral sensation—then went down in flames. Ever since, I’ve wondered: Was it all my fault? (Slate)

• Feds are seizing cryptocurrency from criminals. Now they have to figure out what to do with it. The US government has hired a cryptocurrency company to store all the bitcoin it’s seizing. (Vox)

• The cardboard real estate boom is here The packaging industry is growing—and so are the buildings needed to house it. (Fast Company)

• China Century Missing In World’s Most-Valued Equity The dearth of Chinese enterprises at the top of the market capitalization rankings is a referendum on the world’s second-largest economy. (Bloomberg)

• Yesterday’s Wars Didn’t Prepare the Pentagon for Tomorrow’s China The U.S. military’s long-sought pivot to Asia is slow, uneven, and beset by difficulties. (Businessweek)

• Where There’s Smoke, There’s a Fire Lookout Trina Moyles’s new memoir documents gruelling summers scanning for wildfires in northern Alberta. An excerpt. (Tyee)

Kyle Lowry Leaves Toronto and Inside L.A.’s Ultimate Mid-century Modern Home

Wednesday morning news drop

• Construction industry faces reckoning over racism on job sites Contractors and trade unions have pledged to crack down on anti-Black racism and hate of all forms after a number of recent incidents (Globe and Mail)

• Why Even The Most Elite Investors Do Dumb Things When Investing. The bottom line is that these investment managers are failing to maximize returns for their clients. Without some changes to improve their selling decisions, they’d be better off strictly focusing on buying stocks and letting “a robot manage their selling decisions,” Schmidt says. (NPR)

• Go Big, Then Stop What I’m talking about is a savings philosophy so effective that it can put your future finances on easy mode. It can help you to build wealth for decades while you literally do nothing. It may just be the lowest effort way to set yourself up for a nice retirement. How does it work? You save as much as you can as early as you can, then you stop saving altogether (if you want). Go big, then stop. (Of Dollars And Data)

• The Seas Are Rising. Could Oysters Help? How a landscape architect is enlisting nature to defend our coastal cities against climate change—and doing it on the cheap. (New Yorker)

• Inside L.A.’s Ultimate Mid-century Modern Home The story behind an icon of California bliss, featuring images from the new book The Stahl House. (Vanity Fair)

House Hunt Victoria, The Delta Variant, Food Monopolies, and Snoop Dogg

Tuesday morning news drop

• Delta Is Ruining the Summer, and It’s Anti-vaxxers’ Fault The vaccines promised freedom, but political opportunists have spoiled that. No single factor explains the stall-out, but foremost among the culprits are partisan polarization and political opportunism. (The Atlantic)

• What’s Covid?’ Why People at America’s Hardest-Partying Lake Are Not About to Get Vaccinated At the Lake of the Ozarks, vaccines are shunned, masks are mocked and the long-term consequences take a back seat to the time at hand. (Politico)

• Unvaccinated Canada: Who’s left behind, and why aren’t they getting their COVID-19 shots? Canada’s high overall COVID-19 vaccination rates are concealing pockets where less than half the population has received a first dose, most of them in small towns and rural, remote parts of the country, according to a Globe and Mail analysis of provincial vaccination data. (Globe and Mail)

• They Spurned the Vaccine. Now They Want You to Know They Regret It. People who once rejected the vaccine or simply waited too long are now grappling with the consequences, often in raw, public ways. (New York Times)

• Google and Facebook lead the way with Covid-19 vaccine mandates. Will corporate America follow? Tech companies continue to be at the forefront of how employers respond to the pandemic. (Vox)

• Revealed: the true extent of America’s food monopolies, and who pays the price A handful of powerful companies control the majority market share of almost 80% of dozens of grocery items bought regularly by ordinary Americans, new analysis reveals. A joint investigation by the Guardian and Food and Water Watch found that consumer choice is largely an illusion – despite supermarket shelves and fridges brimming with different brands. (The Guardian)

• The Amazon Is Fast Approaching a Point of No Return Brazil’s rainforest is being stolen and cleared at an accelerating pace, and the Bolsonaro government is fanning the flames. (Businessweek)

• America’s Investing Boom Goes Far Beyond Reddit Bros Robinhood traders have earned the most attention, but they’re only part of a larger story about class stagnation and distrust. (The Atlantic)

• Are Stratospheric Stock Valuations Here to Stay? The past 30 years have either been an anomaly or a new normal. Don’t bet against the latter. (Bloomberg)

• A Heat Wave Has Triggered a ‘Massive Melting Event’ in Greenland Greenland’s ice sheet melted enough in one day to cover all of Florida in two inches of water. (Vice)

• The Tao of Snoop Dogg: “Companies that get down with me know how I get down.” Zooming from his compound in Los Angeles, he smoked an enormous blunt while discussing how he went from a shy musician to a multiplatform entrepreneur with several new ventures in the burgeoning cannabis industry. (New York Times)

• Who Actually Gets to Create Black Pop Culture? A closer look at the economics of Black pop culture reveals that most Black creators (outside music) come from middle-to-upper middle class backgrounds, while the Black poor are written about but rarely get the chance to speak for themselves. (Current Affairs)

• New listings disappear and constrain sales The market continued much the same in July as in June, with the big exception being that new listings dried up quite dramatically. After over a year where new listings were surprisingly unaffected by COVID, they suddenly dropped substantially as soon as we hit Stage 3 of the re-opening. The month ended with new listings down 35% from last year, and lower than we’ve seen for 15 years. (House Hunt Victoria)