- The Rollup
- Rollup #80
Happiness & mental clarity
The main story 📰
I just read an article on Substack from El Gato Malo which reinforced a few ideas I’ve been thinking about a lot. The article goes in many directions, but one of the topics had to do with our shared digital society. How we’re bombarded with news from all corners of the globe, and how unhealthy this can be for the human brain.
For most of human history we were expected to care about the daily happenings of our local tribe, or perhaps our region at best. Maybe traveling merchants would carry a scrap of news from the outside world, but these second hand stories weren’t especially common.
But now, now we’re blasted with bad news from every corner of the globe and the stream of tragedies is unrelenting! I’ve noticed that in the last three months, each time I’ve gone on Twitter I’ve ended up logging off an unhappier person than when I logged on.
I’m sick of it all and if I wasn’t seeking out interesting Tweets (the two tweets I shared in last Sunday’s Rollup were exceptionally popular BTW) I would probably just disable my account.
That’s my rant and I’m sticking by it. I’ve got a pile of exciting books waiting for me and they’re going to make me a hell of a lot happier than the day’s bad news. If “being informed” is making us unhappy, is it even worth it?
Noteworthy quote ✒️
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Worth checking out 🔍
Why college tuition prices are decreasing thanks to inflation.
Google is investing hundreds of millions of dollars into this new chatbot to compete with ChatGPT.
The luxury EV company Lucid is apparently losing $227,000 on every car it sells.
Exxon is going to start producing lithium and plans to be one of the world’s top lithium producers by 2030.
What do the teens like? This survey of ~9,000 teenagers reveals their brand preferences, preferred retailers & media consumption habits.
A brief note from Goldman Sachs claiming that hedge funds are the most short on financial stocks that they’ve been in nearly five years.
The world’s most talent-competitive countries (scroll to page 16 for the chart).
Noteworthy Chart 🧭
America’s LNG export capacity is expected to double by 2027.
Best articles 📖
Are Real Wages Rising? - Joseph Politano lays out three different methods for measuring real wage growth in America. He then explains his interpretation of whether the American worker is actually coming out ahead, after the last several years of inflation and rising wages.
Pricing Power Everywhere - This is an interesting research report from Bloomberg about pricing power. Steve Hou, the author, argues that investors should give this metric the same amount of weight when evaluating a company as they would for debt servicing costs or revenue streams.
How The HeyDude Guy Became A Billionaire Selling Ugly Shoes - I’d never heard of HeyDude shoes prior to reading this article but I checked them out and they look cool! I’d totally buy a pair, and apparently many other people already have.
This is the (brief) story of how HeyDude’s founder, Alessandro Rosano, created the brand and later sold it to Crocs for $2.5 billion. What’s Alessandro doing now that he’s a billionaire? He set up a family office to manage his own wealth! How cool is this guy 🤙
Noteworthy Tweets 🪶
Abysmal. Disastrous. Catastrophic.
All terms you may have heard describing the most recent US Treasury Bond auction.
But how bad was it? Did it really almost fail?
Time for a Treasury 🧵👇
— James Lavish (@jameslavish)
Nov 14, 2023
If you were to buy a $1 Million home, you would have to
• Put $200,000 down
• Take on a mortgage of $5,600
• Pay another $1,000 in property taxes, insurance, and maintenance
A grand total of $6,600 per month.
Or you could just rent an identical house for $3,900.
— Graham Stephan (@GrahamStephan)
Nov 15, 2023
Best of YouTube 🎬
“One Of The Worst Bear Markets In History Already Happened”
Jeff Snider is a renowned orator but in this interview he actually gives Mike Green a lot of time to speak. Mike explains why IBM’s recent change to their pension scheme is so significant, and why other companies might follow their lead.
Mike then goes on to explain why the strength of “the stock market” is somewhat deceptive, since the median stock is actually down YTD. All the growth is from a few large names.
Why We Haven’t Seen A Hard Landing…Yet
Michael Kao explains his thesis for why markets haven’t crashed yet, despite rising interest rates.
My favorite off topic video 🍿
Outstanding! Some of the aircraft in this video are un-freaking-believable. If you saw them in a sci-fi movie you’d say they’re too cheesy to exist. The “weaponized pancake” is one of my favorites.
Best AI image 🏆
Office overtakes renaissance