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THE PATH
There was, deservedly, widespread excitement this past month that headline inflation had at last peaked. We have been seeing the trend in declining inflation for a few months in more timely metrics. Everything from commodities, to shipping, and now potentially rents have turned the corner. It will still take some time for headline metrics to normalize, and we wouldn’t expect to return to the post financial crisis levels any time in the near future.
That said, if this trend continues we can expect the narrative to shift from inflation and interest rates back to asset fundamentals early in the New Year. We would welcome the shift in discussion topics (and charts)!
Conflict is useful, but challenging. An environment without conflict trends toward the average at best, and mediocrity at worst. This is a quick hitter on how to argue effectively without conflict that escalates into negativity.
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The narrative may be a bit overstated, but this is a helpful look back at social platforms in a time when many platforms have entered decline.
It’s seemingly as hard to give up on social media as it was to give up smoking en masse, like Americans did in the 20th century. Quitting that habit took decades of regulatory intervention, public-relations campaigning, social shaming, and aesthetic shifts. At a cultural level, we didn’t stop smoking just because the habit was unpleasant or uncool or even because it might kill us. We did so slowly and over time, by forcing social life to suffocate the practice.
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A bit of an off-the-run piece for this monthly missive, but we think you will enjoy it. If you liked “The Last Dance” documentary, we actually guarantee you will love it. This is the story of a truly obsessive individual who treated his passion like a business.
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We couldn’t let this month pass without mentioning the Crypto “Lehman Moment”. This is a helpful summary of some of the craziest parts of the house of cards that was FTX. This drama is still unfolding so get out your popcorn.
Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here
- John Ray III (Enron Bankruptcy Overseer)
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