Big reads and big ideas at the intersection of globalization, disruption, and politics.
THE BIG FIVE
Michigan Avenue could become the most advanced road in the world, replete with sensors, Wi-Fi, a dedicated lane for autonomous vehicles, and traffic lights that communicate with vehicles and each other, under a public-private development program announced in Detroit. The goal is to make a 40-mile route from downtown Detroit to Ann Arbor the best place in the world to develop vehicles and services that make it easier, safer, and more efficient for people, goods, and services to get around. Detroit Free Press
Greece and Turkey square up over the rights to undersea gas: Old rivals are skirting dangerously close to conflict over natural resources close to the island beauty spot of Kastellorizo. The Times
TikTok is inane. China’s imperial ambition is not. The US won the Cold War by exporting its values, and China has a similar plan for Cold War II. Niall Ferguson
Sea change: China has its sights on the Bay of Bengal: Beijing’s struggle for supremacy with India won’t be about land. Francis Pike
Why your favorite celebs are ditching Twitter for an app you’ve never heard of: For two decades, we’ve been told that stars are just like us. Now celebrities are taking back their power. Will the internet ever be the same? Fast Company
DATA POINTS
For the first time, there are more Fortune Global 500 companies based in Mainland China and Hong Kong than in the US – 124 vs. 121.
112: The number of government-owned Fortune Global 500 companies on the list, more than two-thirds of which are based in China.
13: The number of female CEOs of Fortune Global 50 companies—one fewer than a year ago.
Only 34% of UK office workers are working in their normal location, according to a recent survey by analysts at Morgan Stanley. In France, Germany, Italy, and Spain the figure ranges from 70% to 83%.
Masked economy: 110,000 Etsy sellers have sold 29 million reusable face masks worth $364 million. 7 percent of buyers on Etsy, or 4 million people, came there just for the masks.
Keep on EV truckin’: The number of mid- and heavy-duty electric vehicles on roads in the US is expected to grow from just 2,000 in 2019 to 54,000 by 2025.
Instacarts app downloads shot up over 1000% in April as it hit more than 3.1 million total US downloads total for 2020, and had over 141,000 downloads on April 8 alone.
TWEET
Which snowflake caused the avalanche?
@ritholtz
Barry Ritholtz is co-founder, chairman, and chief investment officer of Ritholtz Wealth Management LLC as well as the host of the Masters in Business podcast.
Have a great weekend. See you next week.
The Weekender | August 15, 2020
