My end of August, morning train WFH reads:
• Money Is Pouring Into AI. Skeptics Say It’s a ‘Grift Shift.’ The move from crypto to artificial intelligence has fueled the markets this year, but some are questioning how much of it is real. (Institutional Investor)
• What to Do With a 45-Story Skyscraper and No Tenants: HSBC’s plan to leave its Canary Wharf tower for a smaller site shows the global challenges ahead in repurposing unwanted office space for a post-pandemic world. (Citylab) see also The Stuff of Cities: From steel to asphalt, the building blocks of modern life are improving to meet a challenging future. (Bloomberg)
• The most important chart in the world: It’s tempting to dismiss the whole concept of R* — the supposed “natural” level of interest rates — as yet another pointless theoretical construct by economists suffering from an acute degree of physics envy. (Financial Times)
• Mortgage Rates at 7% Are Making Everything Worse for US Homebuyers: With supply tight and prices rising, deals are frozen with little relief in sight, (Bloomberg)
• The Economics of Global Rearmament: How Allies are Supplying the Ongoing Defense of Ukraine and Managing its Growing Costs (Apricitas Economics)
• The end of the Googleverse For two decades, Google Search was the invisible force that determined the ebb and flow of online content. Now, for the first time, its cultural relevance is in question. (The Verge)
• Is Nvidia the Next Cisco? Nvidia is not the first giant tech company to trade at a rich valuation. The one that people often compare it to is Cisco, one of the darlings from the dot com era. We can’t compare things to the future, so we look to the past. (Irrelevant Investor) see also “No matter how you cut it, you’ve got to own Cisco” (2000) 23 years ago, Fortune magazine’s cover story about networking gear maker Cisco was published. The cover asks two questions about Cisco: 1.”Is John Chambers the Best CEO On Earth?” and 2. “Is it too late to buy his stock?” (The Big Picture)
• Chandrayaan-3: What has India’s Moon rover Pragyaan been up to since landing? Exactly a week ago, India set down a robotic probe on the Moon, becoming the first country to land near the lunar south pole. (BBC).
• The Hostile Takeover of Blue Cities by Red States: GOP legislatures are increasingly imposing their economic and cultural priorities on left-leaning municipalities like Nashville. (Businessweek)
• Strike Force Five: what happens when late-night TV hosts make a podcast? Fallon, Kimmel, Colbert, Meyers and Oliver have reunited for a new Spotify series, talking ‘on top of each other for an hour’ in aid of their striking writers. (The Guardian)
Be sure to check out our Masters in Business this week with Jonathan Miller, CEO of Miller Samuel, a real estate appraisal and consulting firm he co-founded in 1986. He is a state-certified real estate appraiser in New York and Connecticut who performs court testimony as an expert witness, and holds the Counselor of Real Estate (CRE) and Certified Relocation Professional (CRP) designations. His weekly email Housing Notes is widely read in both the appariasal and real estate brokerage industries. Miller Samuel’s research and data analytics drive much of the national real estate brokerage publications and strategic plans.
The permanent recession that never arrives
Source: Axios
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