What we’re reading (7/20)
“Tesla Ends Streak Of Record Quarterly Profits After China Factory Shutdown” (Wall Street Journal). “Tesla Inc. reported its first sequential decline in quarterly profit in more than a year as it navigates global economic turmoil and recovers from an extended shutdown at its Shanghai assembly plant.”
“Crypto Has A Whole New Boondoggle To Sell You” (Insider). “Now, after burning through billions of dollars and getting booted from the company he founded, [WeWork cofounder Adam] Neumann is back. And this time he wants to help save the world — or at least that's what he wants us to believe.”
“Why A Middle-Class Lifestyle Remains Out Of Reach For So Many” (New York Times). “But it’s not. In February of 2020, The Atlantic published a piece on the affordability crisis that was souring a seemingly strong economy. ‘In one of the best decades the American economy has ever recorded, families were bled dry by landlords, hospital administrators, university bursars and child-care centers,’ Annie Lowrey wrote. ‘For millions, a roaring economy felt precarious or downright terrible.’ Lowrey’s framing has stuck in my mind over the last couple of years. I don’t think you can understand the broader price crisis without it.”
“‘A Bigger Paycheck? I’d Rather Watch The Sunset!’: Is This The End Of Ambition?” (The Guardian). “This has been called the age of anti-ambition: over the past two and a half years, many people have taken stock – of how they spend their time, where they find meaning, their hopes for the future – and found work wanting.”
“These Are The Keys To 401(k) Investing Success In A Falling Market” (CNN Business). “‘[T]he key to 401(k) success is consistent and ongoing contributions. Continuing to contribute during down markets allows investors to buy assets at cheaper prices, which may help your account recover faster after a market downturn.’”
