Sublime
An inspiration engine for ideas
the news, put out by the charity Oxfam, that just sixty-two billionaires possessed as much wealth as the bottom half of humanity (3.6 billion people), down from three hundred billionaires a few years ago. In fact, it was nine billionaires, not sixty-two, as Oxfam would later say when better data came in. And the following year, the number of
... See moreAnand Giridharadas • Winners Take All: The Elite Charade of Changing the World
Some highlights have been hidden or truncated due to export limits.
Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
TikTok Won. Now Everything Is 60 Seconds.
It all started back on Oct. 31,... See more
Top Financial News
Sam filled in one piece of this particular puzzle: FTX had lost a lot of money to hackers. To avoid encouraging other hackers, they’d kept their losses quiet. The biggest hacks occurred in March and April 2021. A lone trader had opened an account on FTX and cornered the market in two thinly traded tokens, BitMax and MobileCoin. His purchases drove
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
As the evening wore on, Jane Street’s worries that other high-frequency trading firms might be doing the same trade eased. “Markets were moving at the speed of CNN, not the speed of data,” said Sam. “We were confident we had better info than the market. We had a sense that if anyone else was doing this, they were very small.” Seven times that
... See moreMichael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
By February 2019, the Wall Street Journal reported that, with their initial public offerings approaching, Uber and its competitor Lyft found a way to... See more