09 Jun Weekly Reads: 06/05/2017
The Week’s Best Articles: Week of June 6th, 2017
Economy: Business Needs to Show There is More to US than Donald Trump – click here
Lawrence Summers the former director of the National Economic Council under President Obama pens an interesting article discussing how President Trump’s most recent actions has departed from years of basic thought. The refusal to acknowledge a global community of nations, in his mind, forces US business leaders to step into the void and show the world that the US is still reliable and can be counted on.
Hedge Funds: Vaunted Manager John Paulson Assets Continue to Fall – click here
John Paulson who became famous after betting against the U.S. housing market continues to see assets leave his hedge fund. His assets are down to $10B with $8B of that being his own money. This fall is spectacular considering that just a few years ago his funds were managing close to $38B! This is likely yet another example of investor push-back over high fees for the industry.
Russia: NSA Report on Russian Hacking Prior to Election – click here
Any news report based on anonymous leaks/reports must be taken with a hefty dose of skepticism. However, this article from the Intercept outlines what may have happened in the days leading up to the most recent Presidential election.
Amazon: Let the Flywheel Spin – click here
Amazon founder Jeff Bezos’ entire concept around Amazon centers around the flywheel. Specifically speaking the more you can get people to stay in your orbit the faster the wheel spins and the harder it is for them to get out. In an effort to continue to pull in shoppers Amazon recently announced that they will cut the price of Amazon Prime for those receiving federal assistance.
Home Ownership: The Missing Boomerang Buyers – click here
The Richmond Federal Reserve Office wrote this interesting piece about “boomerang buyers” (those that experienced foreclosure 7 years ago but now theoretically should be coming back to the housing market). This cohort was expected to come back to the market, after being foreclosed on, and reignite the housing market. Surprisingly this hasn’t occurred in a strong a manner as many expected.
Technology: Uber Not Looking Like the Next Facebook? – click here
A very interesting article that highlights some of the differences between Uber and Facebook. The author focuses on the fact that the “network” that Uber has isn’t as strong as Facebook’s and as a result lowers the barriers of entry for competitors.
Technology: Apple’s HomePod vs. Amazon Echo – click here
Fortune takes a look at home Amazon’s Echo stacks up relative to the new entrant Apple’s HomePod in the home assistant marketplace. One interesting data point about Apple is that despite coming to market with Siri prior to its major competitors they seemingly missed the opportunity in the home assistant market. Now rather than being on the offensive is the release of the HomePod a reactionary step?
America: The Addict’s Next Door – click here
The New Yorker penned this long but interesting piece about the drug epidemic that is occurring in parts of this country. With all the attention other political issues receive it is easy to forget the destructive nature that some of these opioids and other drugs have on entire communities.