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MUSIC FOR THE MASSES
We are giving you a break with a lighter chart than usual after a few months of employment and debt data. This is a helpful reminder of the actual scale of the tech giants, with the revenue from Apple’s AirPods alone sitting at greater than 2x some very well known (and large) companies. You could create a similar chart with Amazon’s web services business, or a whole different level with Search at Google, but the little pods have a bit more shock value.
The Social-Media Stars Who Move Markets
We have been closely watching the trend of meme stocks and social media stars pumping up pockets of the market. This is the type of behaviour that can produce good results and extreme trends during a bull market. Though there are now some qualified people broadly broadcasting information, we will inevitably look back on this period and see that a large number of people were taken advantage of by frauds, or at the very least, unethical practices.
“We know that day trading does not produce long-term wealth for the vast majority of people who do it, but these influencers are preying on that part of the human brain that has fewer inhibitions, that thinks: ‘I will be the exception.’ And that leads to speculation and other kinds of very high-risk behavior.”
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‘Biggest risk of all is that we stop taking risks at all’
We are well and truly past commencement speech season, but we thought this one had some messages worth highlighting. No progress can be made without some degree of risk, and it is up to the individual to weigh those risks alongside their aspirations.
The risk of failure, of a hit to one’s reputation, or just that the gains don’t outweigh the costs, all these can deter or even paralyze a person out of fulfilling the responsibility someone has entrusted to them. Should I make this investment, or husband my cash? Take that job offer, or stay where I’m comfortable? Engage in this debate, or sit silently? Choose this life partner, or play it safe?
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A Lesson in Friendship
A brief read on friendship that is worthy of your time. The message? Friendship is more than being there for your friends, it’s also allowing your friends to be there for you.
There is a class of men who communicate, to anyone whom they meet, matters, which should be revealed to friends alone, and unload upon the chance listener whatever irks them. Others, again, fear to confide in their closest intimates; and if it were possible, they would not trust even themselves, burying their secrets deep in their hearts. But we should do neither. It is equally faulty to trust everyone and to trust no one. Yet the former fault is, I should say, the more ingenuous, the latter the more safe.
- Seneca
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