What we’re reading (4/5)
“‘Great Resignations’ Are Common During Fast Recoveries” (Federal Reserve Bank of San Francisco). “The record percentage of workers who are quitting their jobs, known as the “Great Resignation,” is not a shift in worker attitudes in the wake of the pandemic. Evidence on which workers are quitting suggests that it reflects the strong rebound of the demand for younger and less-educated workers. Historical data on quits in manufacturing suggest that the current wave is not unusual. Waves of job quits have occurred during all fast recoveries in the postwar period.”
“7 Workforce Trends Workers Can Expect In 2022” (FEE Stories). “The most sweeping and ongoing change that people are experiencing is the so-called ‘Great Resignation.’ According to surveys, 44% of employees are ‘job seekers.’ This means that almost half of employees are looking for a new job or plan to soon. Unemployment rates skyrocketed at the beginning of the pandemic when many businesses were shut down. Seemingly arbitrarily, many people found themselves without work depending on whether they were declared to be ‘essential’ or not.”
“Did Activision CEO Cover His Share Of Lunch With A Bit Of Inside Dirt?” (Dealbreaker). “It’s certainly suspicious when a CEO’s self-proclaimed ‘long time friend’ loads up on said CEO’s company’s shares just before those very beaten-down shares get a lucrative offer from a potential buyer. Still, suspicion is not beyond a reasonable doubt, and there are a hell of a lot of dots left to connect before you can say that Barry Diller committed insider trading with a sweet tip from his buddy, Activision Blizzard chief Bobby Kotick.”
“Credit Suisse Found Former Investment-Bank Chief Violated Code Of Conduct” (Wall Street Journal). “When Credit Suisse Group AG lost more than $5 billion a year ago in the Archegos Capital Management meltdown, investment bank head Brian Chin was among those forced out with docked pay. What wasn’t publicly known then is that the bank was investigating him and the securitized-products group he once ran, including for alleged mistreatment of women, according to people familiar with the matter.”
“Do Founders Outperform At Venture Capital?” (Paul A. Gompers and Vladimir Mukharlyamov via Marginal Revolution). “In this paper we explore whether or not the experience as a founder of a venture capital-backed startup influences the performance of founders who become venture capitalists (VCs). We find that nearly 7% of VCs were previously founders of a venture-backed startup. Having a successful exit and being male and white increase the probability that a founder transitions into a venture capital career. Successful founder-VCs have investment success rates that are 6.5 percentage points higher than professional VCs while unsuccessful founder-VCs have investment success rates that are 4 percentage points lower than professional VCs.”
