06/28/2021: Weekly Newsletter
I had to read this WSJ headline twice to make sure I was reading it correctly: “During Covid-19, Most Americans Got Richer—Especially the Rich”. I mean…if you had asked me did I think that overall we got richer over the last year, I probably would have guessed no. But I am wrong.
What is even more surprising, and in my opinion troubling, is this chart below. The top 1% of Americans made about half of what the other 99% gained over the last year!!! WTF!
And it gets even crazier! This chart shows how the top 20% gained so much more wealth than any of the quintiles this year.
I can’t predict how this will play out but it’s an issue our society will need to reckon with sooner or later.
Money & Crypto
Venmo starts charging users for selling goods and services
Revolut’s growth, UK-based Fintech
10-yr treasury curve flattens
Film and tv industry trends
UK and Japan crack down on crypto exchange Binance
Indian credit card startup Slice raises $20M, Mercuryo raises $7.5M, PharmEasy acquires a stake in Thyrocare
Tech & Science
Apple and Microsoft battle on apps
🎧 Fascinating interview about the COVID lab leak theory w/ Vanity Fair reporter Katherine Eban
Tesla cars in China need fix
Synthetic biology explained
Etc.
Books for your summer reading list
🎧 Helen Mirren interviewed by Alan Alda
Wimbledon women’s tennis past winners
Simone Biles at Olympic Trials
What is procrastination really about? (Fun fact that long time readers will already know, when I first started my newsletter I called it “Procrastination”.)
Disclaimer: All opinions are my own. The content on this site and on the podcast does not constitute financial, legal, accounting, tax, or investment advice.
