🍋 Musk vs Bezos Heats Up


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Oct 12, 2021 Sign Up

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"There are two types of people… creatures and story tellers, for God’s sake be a storyteller, that’s how the bible does it." – Walter Isaacson

Good morning! If you are an educator, you need to head to McDonald's ASAP. The fast food chain is giving away free breakfast till Friday to teachers, faculty and staff worldwide. JPMorgan CEO, Jamie Dimon is not jumping on the Bitcoin bandwagon anytime soon. He reiterated his negative feelings on Monday by calling the cryptocurrency "worthless" and liked it to smoking cigarettes (lmao).

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1. Story of the Day: Musk vs Bezos Heats Up

The billionaire wars are heating up. Elon Musk and Jeff Bezos cannot seem to get enough of each other, and not in a good way. Elon has made his dislike for Bezos quite public while Bezos, who maintains a low-key profile on social media, has been more sneaky.

On Friday, Jeff Bezos tried to post a wholesome tweet, reminding everyone that Amazon is a successful company (apparently none of us knew). Elon came to spoil his zen and ratio’d (bullied) the 2nd richest person in the world by commenting a “#2 medal” emoji, making sure Bezos knows Elon is the #1 richest person in the world.

At time of writing Musk is worth $204 billion while Bezos trails behinds with $190 billion.

In addition to the richest person rivalry, the two have been at it trying to battle it out in space too. Bezos who recently stepped down as Amazon CEO to focus on his space company, Blue Origin, has been a lawsuit galore. Blue Origin recently filed a lawsuit against NASA over its decision to solely award SpaceX a $2.9 billion contract.

Elon clapped back: "The sad thing is that even if Santa Claus suddenly made their hardware real for free, the first thing you’d want to do is cancel it.”

Bezos struck another Elon nerve when Amazon's Kuiper satellite initiative filed a complaint against SpaceX's Starlink satellite constellation. Elon snapped again: "Turns out Bezos retired in order to pursue a full-time job filing lawsuits against SpaceX.”

Short Squeez Takeaway: More than anything, these billionaire wars are entertaining to watch. While the world struggles with real issues such as poverty, lack of healthcare, climate change etc., it is refreshing to see Muskezos keeping each other up at night over who gets to colonize Mars first.

Source: Fox Business

2. Markets Rundown

US stock market fell on Monday, as higher commodity prices and bond yields weighed on stocks.

Movers & Shakers

(+) SoFi Technologies ($SOFT) +13% after Morgan Stanley initiated coverage with an overweight rating.
(+) Aspen Technology ($AZPN) +12% after it announced a deal with Emerson Electric to merge with two of its software businesses
(–) Soutwest Airlines ($LUV) -4% after it canceled more than 2,000 flights over the weekend.

3. Top Reads

The jobs market is looking good for college seniors (NYT)
Why we are prone to see patterns where they don't exist (HumbleDollar)
If the Big Tobacco analogy is right, Big Tech still has plenty of time (NYT)
TikTok is the same app it was a year ago (Atlantic)
On the maturation of the venture capital industry (TomTunguz)
The US is an outlier relative to the developed world when it comes to subsidizing child care (NYT)
Black officers are leaving police forces around the country (Atlantic)
The economic expansion is still in its early stages (LoganMohtashami)
How the Delta wave is showing up in the job numbers (TheOvershoot)
The message from American workers is clear - they will return to work when they are well-compensated and feel safe (WP)

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4. Book of the Day: Useful Delusions: The Power and Paradox of the Self-Deceiving Brain

Self-deception does terrible harm to us, to our communities, and to the planet. But if it is so bad for us, why is it ubiquitous? In Useful Delusions, Shankar Vedantam and Bill Mesler argue that, paradoxically, self-deception can also play a vital role in our success and well-being.

The lies we tell ourselves sustain our daily interactions with friends, lovers, and coworkers. They can explain why some people live longer than others, why some couples remain in love and others don’t, why some nations hold together while others splinter.

Filled with powerful personal stories and drawing on new insights in psychology, neuroscience, and philosophy, Useful Delusions offers a fascinating tour of what it really means to be human.

“A wide array of research shows that people who are delusionally optimistic tend to outlive people with more realistic attitudes.”

5. Short Squeez Picks

Want to invest in Early-Stage Silicon Valley start-ups? Here’s your chance to invest in NanoVMs latest round
This one word changed Steve Jobs' Career
Show me what an amazon fulfillment center looks like on the inside

6. Daily Visual: Countries Most Reliant on Coal
Countries generating the biggest share of their electricity from coal (in percent, 2020)

Source: Statista

7. Daily Acumen: Compounding

"Howard Marks once talked about an investor whose annual results were never ranked in the top quartile, but over a 14-year period he was in the top 4% of all investors. If he keeps those returns up for another 10 years he may be in the top 1% of his peers – one of the greatest of his generation despite being unmentionable in any given year.

So much focus in investing is on what people can do right now, this year, maybe next year. “What are the best returns I can earn?” seems like such an intuitive question to ask.

If you understand the math behind compounding you realize the most important question is not “How can I earn the highest returns?” It’s, “What are the best returns I can sustain for the longest period of time?” Average returns for an above-average period of time leads to extreme returns.

“The only thing that matters is where you are in the long run,” Marks said."

Source: Collaborative Fund

8. Memes of the Day

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