train WFH reads:
• Why You Should Enable Apple’s New Security Feature in iOS 16.2 Right Now: Apple just rolled out iOS 16.2, a software update that includes a key new feature called Advanced Data Protection for iCloud. That means you can finally enable end-to-end encryption for your iCloud backups so no one but you—not even Apple—can access your iCloud data. (New York Times)
• The FUD Behind the Crypto Collapse: Sam Bankman-Fried and Binance’s Changpeng Zhao were ostensible partners before Zhao helped blow the whistle on Bankman-Fried’s failures. The bad feelings go back for years. (Businessweek) see also The socially sanctioned arrogance of SBF: Sam Bankman-Fried is what happens when nobody looks under the hood. (Vox)
• Private Equity Firms Say These Funds Hold Their ‘Crown Jewels’ — But Most Investors Are Opting Out: “Just because LPs are accepting a liquidity route doesn’t mean they wanted to sell,” says ILPA’s Brian Hoehn. (Institutional Investor)
• Americans are draining the money they saved during the pandemic: Pandemic savings have helped keep people spending even as inflation has spiked. But their stockpiles are increasingly dwindling. (Vox)
• Housing, Inflation and Why the Fed Should Consider a Pause. This “dramatic shift” in household formation is leading to Rents Falling Faster than “Seasonality Alone”. Since rents are falling – and will likely continue to fall – it probably makes sense to look at inflation ex-shelter for monetary policy over the next several months. (Calculated Risk)
• The Rise And Fall Of The Hype Watch: Last year, a handful of specific watches – you know the ones – went from “rather expensive, even for a luxury item” to “these prices simply cannot be real.” This year, the bubble popped. Here’s what happened, and what it means for 2023. (Hodinkee)
• Are Mushrooms the Future of Alternative Leather? MycoWorks uses mycelium, the substance in the root structure of mushrooms, to make Reishi, which has the look and feel of leather. Big-name companies are very interested. (New York Times)
• Who Painted That New Cosmic You? Lensa’s trippy, A.I.-generated avatars are a viral hit. But their magic comes from an unsettling place. (Slate)
• They Fought the Lawn. And the Lawn Lost. After their homeowner association ordered them to replace their wildlife-friendly plants with turf grass, a Maryland couple sued. They ended up changing state law. (New York Times)
• The No-Name Quarterback Who Just Outplayed Tom Brady: Brock Purdy—the last pick of the 2022 draft—leads San Francisco to a soaring win over Tampa Bay, underlining that NFL talent can lurk in unexpected places (Wall Street Journal)
Be sure to check out our Masters in Business next week with Robert Koengisberger, founder and CIO of Gramercy Funds Management, which manages $5.2 billion in distressed Emerging Markets Debt. Gramercy’s chairman is (previous MiB guest) Mohamed A. El-Erian; the firm is a sponsor of the Greenwich Economic Forum.
The Federal Reserve signals more to come even as it slows rate increases.
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