Links - 10/22/2020
“Some problems are so complex that you have to be highly intelligent and well informed just to be undecided about them.” —Laurence J. Peter
“The test of a first-rate intelligence is the ability to hold two opposed ideas in the mind at the same time, and still retain the ability to function.” —F. Scott Fitzgerald
Bronte Capital’s Q3 Letter (LINK) [More Q3 investor letters are also compiled HERE.]
United States v. Google - by Ben Thompson (LINK)
The Anticlimax of the Google Antitrust Suit - by Steven Levy (LINK)
Lots of Overnight Tragedies, No Overnight Miracles - by Morgan Housel (LINK)
Epic S&P 500 Rally Is Powered by Assets You Can’t See or Touch (LINK)
Quibi officially announces it’s shutting down (LINK)
Why Central Banks Want to Create Their Own Digital Currencies Like Bitcoin ($) (LINK)
The Bitcoin Life Raft: The End of Monetary & Fiscal Policy As We Know It (w/ Raoul Pal) (video) (LINK) [I don’t have a strong opinion on the things Pal talks about—and the quotes at the start of this newsletter roughly summarize my feelings on the topic for the time being—but the idea of central bank digital currencies does seem to be gaining traction, so it’s worth learning about, if you haven’t already started.]
This Week in Intelligent Investing Podcast: Special Episode: The Logistics of Food Delivery, with Isaac Schwartz and Elliot Turner (LINK)
This Week in Startups (podcast): Capital Allocators Host Ted Seides goes deep on endowments, LP turnover, public/private market insights, ESG investing & more (LINK)
Trailblazers with Walter Isaacson (podcast): Scams: The Oldest Tricks in the Book (LINK)
The Law of Unintended Consequences - by Mark Manson (LINK)
Religion, Violence, Tolerance & Progress: Nothing to do with Theology - by Nassim Nicholas Taleb (LINK)
“When people are free to do as they please, they usually imitate each other.” —Eric Hoffer