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The Leyendecker View: May 29, 2020


“What seems to us as bitter trials are often blessings in disguise.”
- Oscar Wilde
 

SOME GOOD NEWS

Economist Paul Krugman upbeat on economy
Let’s hope he’s right.
 
Improve your mental performance
By eating ice cream for breakfast.

Belgian man becomes friends with owl family
Because they all like to watch television.
 
OUR CLIENT WORLD
 
The hottest IPOs
Are companies with no operations.
 
US corporate bond sales smash record
Unlikely superhero, the Fed’s bond backstop unlocks liquidity.
 
The Fed buys $1.8B of corporate bond ETFs
In the first six days.

SelectQuote has solid IPO
Insurance-policy comparison firm raises $360MM.

CORONAVIRUS
 
COVID deaths per 100,000
The worst experience is not in the US.
 
The pandemic lockdown policy
Came by way of a…14-year-old’s science project?
 
Infidelity during the COVID crisis
Which cities have the most cheaters?
 
THE ECONOMIC CRUSH
 
Millennials
The unluckiest generation in US history.
 
The Atlantic lays off almost 20% of its staff
Old media and new media battle for survival.
 
Investment in US shale to fall 50% in 2020
Tough days for an industry with a giant economic multiplier.
 
THE ECONOMIC VIEW
 
Renewables pass coal in the US
First time in 134 years.

Global trade volumes as a percentage of GDP since 1970
Has globalization reached its peak?

Goldman suggests ground is fertile for negative interest rates
What’s our strategy if that doesn’t work?
 
REBUILDING AMERICA
 
We need to improve education outcomes
What’s holding young people back?  
 
Mortgage credit tightens
Creating drag on recovery prospects.
 
The next billion-dollar startups
Entrepreneurs are not retreating.

THE CHINA SYNDROME
 
Escalating tensions on the border
Between India and China.
 
China ready to lay down the law in Hong Kong
Is Taiwan next?
 
Losing “special status”
What does it all mean for Hong Kong?
 
THE NEXT NORMAL
 
Tech workers fear their jobs will be automated
What about all the rest of our jobs?
                                       
An indoor farming revolution
Is it coming?
 
The work share movement
How they are doing it at the LA Times.
 
KA-CHING FOR TECHNOLOGY
 
Just within the last couple of weeks…
 
Food-saver science: Apeel raises $250MM
COVID-19 focused: Atea Pharma raises $215MM
Telemedicine startup: American Well raises $194MM
Rare diseases focused: Rallybio raises $145MM
Corporate-credit startup: Brex secures $150MM
Social consciousness banking startup: Aspiration snags $135MM
Virtual reality hardware company: Magic Leap raised $350MM
Mortgage specialists: States Title nabbed $123MM
Database services: Couchbase got $105MM
Mental health startup: Mindstrong locks down $100MM
Ugly produce: Imperfect Foods raised $72MM
 
A BETTER YOU
 
Rediscover the joy of learning
Cultivate a beginner’s mind.
 
Frankness is an essential virtue
Even the ancient Greeks knew it.
 
What makes a good life
Lessons from a 75-year study on happiness.
 
VIDEO OF THE WEEK
 
David Bowie’s advice on being creative
Relevant as ever.

HOW ABOUT A BREAK
 
The robo graduation
A school in Manila uses its imagination.
 
Tired of your own four walls
Cabins cool to be stuck in right now.
 
The brain and artificial intelligence
Thinking machines can mimic our brain, but only to a point.
 
FROM THE HEADHUNTER’S KITCHEN
 
Best gazpacho ever
Refreshing and healthy. Eeees so good!
 
THOUGHTS FROM DOUG
                       
If it’s no big deal for government to create trillions of dollars, then why do we need to pay taxes? 
 
Over 40 million workers have filed for unemployment in the last 10 weeks. That’s nearly one-quarter of all workers. These people have bills to pay, families to raise, savings to...what savings? How are we to economically manage all these workers without jobs?

All the recovery scenarios fail to model in an even more contentious trade war with China.
 
The year isn’t half over. For some reason it feels like there’s at least one more shoe to drop.
 
Many Trump and Sanders supporters come from the same socioeconomic circumstances. They don’t earn much. They don’t have much. They live month to month. But they obviously have different ideas on how to fix their problem. 
 
Only around 12% of Germans were members of the Nazi party. The other 78% of Germans either had an economic reason to support the Nazis, or they feared retaliation for not doing so. You think things are much different in China today? 
 
Fewer fliers and higher costs to keep airplanes clean should mean airlines will need to charge more to fly. But won’t higher fares lead to fewer fliers? Same with restaurants.
 
About 35% of Americans have college degrees, yet some of them work in lower-pay service jobs. So, where does that put the other 65% of Americans?
 
IN CASE YOU MISSED IT
 
The Leyendecker View: A $2T Stimulus Not From the Government
May 22, 2020
 
The Leyendecker View: Navigating Deglobalization
May 15, 2020

 

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