- The Rollup
- Rollup #82
Squarespace loses a key investor
Noteworthy insider trade 🚨
The investment firm General Atlantic just sold 6,000,000 million shares, worth $177 million, of the website creator Squarespace. The stock price of $SQSP is down 4.34% since the sale.
Squarespace is a prolific sponsor of many of my favorite YouTube channels, so selfishly I hope that the company is doing OK.
Source: SEC Filing #1
Noteworthy quote ✒️
This Rollup is sponsored by 💡
Chartr is a really cool newsletter that I’m subscribed to myself (along with 400,000 other people). The Chartr team takes all sorts of data and turns it into cool graphs like this one 👇
Most of the charts are related to business & macro, but there are other themes like,
Pickup truck sales in 2022
Mentions of AI in earnings calls,
Countries with the most lithium reserves
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Worth checking out 🔍
Amazon is launching a free training program to teach up to 2 million people about AI by 2025.
US home sales fell to a 13-year low in October.
Here’s how much OpenAI software engineers can earn.
The cost to build a wind-farm has risen by 38% in two years.
Should you invest in IPOs?
The jobs with the highest salaries and fewest hours worked.
Two out of three Americans are worried that AI will threaten their career.
Noteworthy Chart 🧭
Best articles 📖
Morningstar's U.S. Active/Passive Barometer - Who’s doing better: active managers or passive funds? This detailed research report from Morningstar tells us everything we need to know.
Each New Generation Finds It More Difficult to Surpass the Wealth of Their Parents - The first time I was on a podcast the hosts asked me: what do Americans have to complain about? We have it amazing!
I wholeheartedly agreed, and I’m incredibly grateful to have been born in the west. However, one of the quirks of human nature is that getting something feels good but having it taken away feels horrible.
Millennials and Gen Z no longer believe that they’ll do better than their parents, and the American dream is feeling increasingly out of reach for millions of people. This short post captures that sentiment and expresses it perfectly with a beautiful graph.
The Downsides of Diversification - The title says it all. An interesting article about how to implement, and stick with, a diversified portfolio.
Noteworthy Tweet 🪶
What is one core investing belief of yours that most people disagree with you on?
— Andrew Kuhn (@FocusedCompound)
Nov 22, 2023
Best of YouTube 🎬
Economist Fact-Checks Zeihan's China Collapse Story
Like the guy who made this video, I also have a nuanced take on Peter Zeihan. On the one hand, he’s very knowledgeable and nobody has helped me to understand geopolitics better than Peter.
On the other hand, Peter can be rather bombastic and self-assured. In the infinitely complex sphere of geopolitics he makes pronouncements as if they’re guarantees. Certainty of this magnitude is unwise, in my opinion.
I view Peter as a guide. He can point you in the right direction, but ultimately it’s up to you to make the journey yourself.
Kyle Bass: The China Conundrum
Rather China heavy in this week’s video section, but that’s just how the cookie crumbles. Kyle Bass was just on Real Vision to share his take on what’s happening behind the Great Wall.
My favorite off topic video 🍿
I thought this hour-long documentary about ship breakers in Alang, India, was exceptionally well-done. 40,000 men live here and they break down a majority of the world’s old ships using torches, cranes and a lot of man power. A hot, dangerous job that must be done somewhere.
Best AI image 🏆
The world is as complicated as you make it out to be
👋 Do you like this newsletter? In addition to the Rollup I also write a long form article each week on Substack. I write about investing, the strange state of our society, plus lots of interesting book reviews.
Since it’s the holidays I decided to keep it simple, so here are fifteen of my favorite memes that I found in 2023 👇