$$$, Favor, Optimism

6/24 - What's Next

Hey!

One note:

  • Do you work at a company (or are looking at an offer) that pays you in equity compensation (ISOs, NSOs, RSUs)? Thinking about switching jobs and worried about what will happen to your equity? There are many tax consequences associated with managing your stock options and grants that can be really confusing (and cost you serious money).

    I want to help you understand this stuff - it plays a super important role in your wealth! I have helped dozens of people navigate this space.

    Hit reply to this email - or jordangonen1@gmail.com - send any questions (or thoughts) you have, and I will get them answered.


Articles to Read.

Your Professional Decline Is Coming (Much) Sooner Than You Think

As a child, I had just one goal: to be the world’s greatest French-horn player. I worked at it slavishly, practicing hours a day, seeking out the best teachers, and playing in any ensemble I could find. I had pictures of famous horn players on my bedroom wall for inspiration. And for a while, I thought my dream might come true. At 19, I left college to take a job playing professionally in a touring chamber-music ensemble.

But then, in my early 20s, a strange thing happened: I started getting worse. To this day, I have no idea why. My technique began to suffer, and I had no explanation for it. Nothing helped. I visited great teachers and practiced more, but I couldn’t get back to where I had been. Pieces that had been easy to play became hard; pieces that had been hard became impossible.

The data are shockingly clear that for most people, in most fields, professional decline starts earlier than almost anyone thinks. I am lucky to have accepted my decline at a young enough age that I could redirect my life into a new line of work. Still, to this day, the sting of that early decline makes these words difficult to write. I vowed to myself that it wouldn’t ever happen again.

Cement Produces More Pollution Than All the Trucks in the World

Manufacturing the stone-like building material is responsible for 7% of global carbon dioxide emissions, more than what comes from all the trucks in the world.

Meet the A.I. Landlord That’s Building a Single-Family-Home Empire

Main Street Renewal is an arm of Amherst Holdings, a real estate investing firm with $20 billion under management. It owns or manages some 16,000 single-family homes, scattered across the Midwest and the Sunbelt. That portfolio makes Amherst one of the biggest, fastest-growing players in institutionally owned rental homes, a $45 billion subsector of the real estate industry that barely existed before the Great Recession.

The business remains highly fragmented: Institutional investors own only about 2% of America’s 15 million single-family rental homes. But over the past seven years, those investors have amassed a substantial portfolio—some 300,000 houses in all. The biggest players include Invitation Homes, a REIT that’s the product of a merger of rental divisions of several investment firms, including Blackstone, Starwood Capital, and Colony Capital; American Homes 4 Rent; and Amherst. All these landlords use automated house-hunting to fuel their growth. But Amherst differs from its rivals in focusing its computer models—and its business model—on affordable suburbs in the solid middle of the U.S. housing sector.

Side-By-Side Photos of Paris and Its Chinese Knock Off

At first glance, Francois Prost's photograph of the Eiffel Tower looks like it was taken on any given day in Paris. But just outside the frame are clues that the structure in his picture is nowhere near the Champ de Mars: Chinese script adorns all the shop signs, and there is no shortage of canteens serving up fried rice. That's because Prost didn't capture that image in France—he captured it 6,000 miles away in a facsimile of the City of Light.

At 9.8 GB per month, India has the highest data usage per smartphone

India has the highest average data usage per smartphone, reaching 9.8 GB per month at the end of 2018, according to a new study by Swedish telecom equipment maker Ericsson. The report, released on Wednesday, also forecasts that this figure is likely to double to 18 GB per month per smartphone by 2024.

The Man Behind ‘Fortnite’

At age 20, Tim Sweeney founded Epic Games in his parents’ basement. His company now owns one of the most popular videogames on Earth. He is worth $7 billion. But he doesn’t want the credit.

Mr. Sweeney is a tech giant, but he remains a little-known figure. “I’m single. Unmarried, no kids. So I lead a fairly simple life,” he said. In his spare time he programs or hikes. “I love going off the trail and finding things that I think nobody’s ever seen before,” he said.

His favorite food is Bojangles’ fried chicken. (“It strikes the perfect balance between tasty food and time commitment,” he said.) He primarily drinks Diet Coke (“but only because it’s almost impossible to find Tab nowadays”). His office uniform is a T-shirt and cargo pants.

How hedge funds use satellite images to beat Wall Street

Illustration of a satellite orbiting the earth

Parking lot volume is such a reliable indicator of retail sales that it can be used to identify errors in analysts’ forecasts in the three-week period after stores’ quarterly earnings are in, but before they’re announced to the public. Using data from Markit, a service that tracks daily institutional lending activity, they found a boost in stock lending in the five days before earnings announcements. That’s an indication of “informed short selling activity,” targeting retailers with bad news for the quarter (the strategy works with long and short-sale positions, but the researchers found it is most profitable for short sales).

“Technology was supposed to level the playing field, but what I see is the fence separating sophisticated and unsophisticated investors growing higher,” says Patatoukas, who is passionate about teaching his students to analyze public sources of financial information and finds the trend troubling. “That’s the dark side of big data. Our evidence suggests that unequal access to alternative data leaves individual investors outside the information loop.”

More to Check Out: 
- How Harvard is Changing How They Teach Economics
A Deep Dive into the Harris-Klein Controversy
- The Race to Become the Beyond Meat of Fish
- The Term DTC is a Misnomer
Futurism Needs to Get Real


My Update.

  • Do you work at a company (or are looking at an offer) that pays you in equity compensation (ISOs, NSOs, RSUs)? Thinking about switching jobs and worried about what will happen to your equity? There are many tax consequences associated with managing your stock options and grants that can be really confusing (and cost you serious money).

    I want to help you understand this stuff - it plays a super important role in your wealth! I have helped dozens of people navigate this space.

    Hit reply to this email - or jordangonen1@gmail.com - send any questions (or thoughts) you have, and I will get them answered.

  • Where are you based?

Thanks so much for reading! Find me on twitter : )