Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
Hindu nationalists across India are giving allied politicians cover to enact laws that explicitly discriminate against Muslims. But many Indians are pushing back.
Japan’s NTT to Make Home Primary Work Place in Rule Change: NHK
Buffett’s Last Lunch Auction Draws Record $19 Million Bid
Rogers, Shaw to Sell Mobile Unit to Quebecor for $2.2 Billion
Payment Technology Company Paya to Explore Sale
KKR, GIP Jointly Bid for $21 Billion Deutsche Telekom Unit
How Japan Achieved One of The World’s Lowest Covid Death Rates
Texas Senator Cornyn Booed Over Gun Package at State GOP Event
Sergey Brin Seeks Divorce, Joining Gates and Bezos in Split
‘There’s So Much Fear’: Crypto Winter Descends on Traders
‘We Ain’t Done’: NBA Champion Warriors Already Looking Ahead
Celtics Take Bitter With Sweet After Losing in NBA Finals
How to Torch Your Unicorn
Industrial Spending Should Be Booming. But Will It?
Ferrari Will Never Let Robots Drive Its Ferraris
Adults Who Love Toys? The Toy Industry Loves Them, Too
ESPN’s NHL Deal Shows Broadcasters a New Way to Profit From Sports Rights
America’s Convention Center Kings Want You Wearing Lanyards Again
NYC Mayor Adams Allocates $6.7 Million Toward LGBTQ Social Services
A Quarter of All Abortion Clinics Would Close in US If Roe Is Overturned
Former Goldman Sachs MD Is Publishing a Book Alleging Abuse and Attack
Biden Proposes Changes to Help Rescue California Nuclear Plant
China’s New Green Debate: Saving the Planet vs Saving the Planet
The Museum Seeking to Unlock a War-Hit Nation’s Mineral Wealth
Rikers Jail Replacement Plan Pits Chinatown Against New York City
Without Commuters, US Transit Agencies Are Running Out of Options
‘There’s So Much Fear’: Crypto Winter Descends on Traders
As the Crypto Winter Hits Its Peers, Chicago Trading Firm Jump Is Ready for More Bets
Crypto Exchange Giant FTX Enters Canada With Acquisition
Tracy Alloway and
Joe Weisenthal
Welcome to the subscriber-only Odd Lots newsletter. Every week, Joe Weisenthal and Tracy Alloway bring you their thoughts on the most interesting developments in markets, finance and economics.
The invention of the blockchain was supposed to create a way in which anonymous parties could overcome their inherent distrust for one another in order lend, borrow and trade without oversight from a central authority.
That promise is now blowing up spectacularly, with crypto investors coming to terms with the problematic results of the market’s founding tenet. Not only is crypto collapsing in on itself as trust turns to suspicion, there are calls for more intervention from outside parties.
In that way, crypto isn’t too dissimilar to other notable “fintech” blow-ups of the past. New technology is supposed to make it easier and safer for parties to transact with each other, but it hardly ever works out that way.
It’s a point brought up by legendary short-seller Jim Chanos in an Odd Lots episode this week. He argues that too often we mistake “innovation” in extending credit with the tailwind of a benevolent credit cycle:
