Monday, August 12, 2019


"Money tends to be fairly captive, once it’s in a company. If you have a business that gets subnormal returns over time, there’s a big threshold in terms of either a takeover, or a proxy fight, or something like that to unleash the capital. So, money that’s tied up in an unprofitable business, or a sub-profitable business, is likely to stay tied up for a good period of time. Eventually something will probably correct it. But capitalism does not operate so efficiently as to move capital around promptly when it’s misallocated." --Warren Buffett (1995)

The Laws of Investing - by Morgan Housel (LINK)

The Billionaires Behind The Secret Tech Mecca In America’s Heartland [H/T @iancassel] (LINK)

Debunking the Stanford Prison Experiment [H/T @wolfejosh] (LINK)

The Tim Ferriss Show (podcast): #381: Charles Koch — CEO of Koch Industries (LINK)

Acquired Podcast: DoorDash + Caviar Quick Take (LINK)

Spectacular Failures Podcast: Toys R Us goes bust (LINK)

The Cocktail Creationist (2004) [H/T @vader7x] (LINK)
At 5:20 on a Sunday morning in the summer of 1996, Sidney Frank—liquor baron extraordinaire, dapper elderly gent, CEO of the Sidney Frank Importing Co.—picked up his phone in a fit of inspiration. He dialed up his No. 2 executive, who listened in a groggy daze as Frank proclaimed, “I figured out the name! It’s Grey Goose!”
This Land Is the Only Land There Is (LINK)
Here are seven ways of understanding the IPCC’s newest climate warning.
Jupiter from Hubble: Enormous, magnificent, and… fading at the edge? - by Phil Plait (LINK)

Book of the day: Ultralearning: Master Hard Skills, Outsmart the Competition, and Accelerate Your Career - by Scott Young