Exchange Invest Weekend Edition 2757: Digital Disrupted
EU bruising, cruising, eastern showdown. Sanctions failure, Padel Pickel Peril, the crowd’s mega game & paying kickballers vs CEOs…
Exchange Invest is a unique information resource combining the day’s stories in a newsletter for investors in exchanges/financial markets infrastructure.
Exchange Invest was founded by former exchange CEO and author of the first bestselling book of fintech (“Capital Market Revolution!” FT 1999) Patrick L Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
This weekly edition is a magazine of broader macro topics as well as including our free weekly podcast which reviews the highlights of the week in the world’s market structure.
IN BIGWORLD
From Exchange Invest 2753: September 5th:
The dynamic diva of contemporary pop Taylor Swift has played another blinder and upended the movie business. In the midst of the Hollywood writer/actor strikes, she may yet save the embattled AMC cinema chain with a release of her Eras tour straight to cinema.
La Swift paid for the filming and owns the movie outright, hence no need for the studios to become involved. For speed of execution, she has given better than usual terms to the cinemas who will profit on all merchandise sold at screenings and receive 43% of the box office with the rest going to AMC (as distributor) and Swift. Usually, a studio would take 70%.
Another knock-on effect here I suspect is that after the Barbie blast last month, a mega release of a Taylor Swift movie will again impact the price of “pink” in the run up to Halloween — as we previously warned you in EI 2747.
One thing Taylor Swift has not sung so far as I know is “Oops I did it again” — instead she keeps this for her commercial deals, it seems.
IPO-VID LIVESTREAM
NEXT WEEK TUESDAY: Season 20: Episode 02: IPO-VID Livestream 116
Guest: Rainer Zitelmann
Tuesday, September 12th: 1800 UK, 1900 CET, 1400 EST
“Rainer Zitelmann — The Wealth Elite”
Rainer Zitelmann is a German historian, sociologist and multiple bestselling author, whose 26 books include “In Defence of Capitalism.” His books have been translated into 30 languages around the world along with his copious quantity of Op-Eds.
In this week’s IPO-VID, Rainer discusses his book “The Wealth Elite” discussing “What makes the super rich tick?” Based on interviews with members of the financial elite, and rigorous academic analysis, it’s a fascinating insight into the world of the super rich ― and how they think, behave and make their fortunes.
Watch the stream on:
EI WEEKLY PODCAST
Deals Done!
TT Buys Abel Noser In A Super Speedy Completion
Tradeweb Complete Their Purchase Of Australian Platform Yieldbroker
And The Biggest News Of All: ICE Closed The Purchase Of Black Knight Within Hours Of The FTC Confirming They Were Permitting The Deal At Last
The Exchange Invest Weekly Podcast 210
VICTORY OR DEATH
20 years on from the first fintech bestseller “Capital Market Revolution!”… “Victory Or Death” is a must-read book for anyone interested in the intersection of Blockchain, Cryptocurrency and FinTech as part of the whole future of finance.
FINANCE BOOK OF THE WEEK
In response to reader’s queries, we have added a book of the week column to the EI weekend edition — You can sign up for EI Weekend for free at ExchangeInvest.com incidentally. We’re choosing interesting books pertaining to exchanges and markets, investment et al.
This week’s book was written by former EUREX Chief Innovation Officer & IPO-VID 085 guest Brendan Bradley.
“ESG Investing For Dummies” provides a user accessible guide to investing for a more sustainable world. “This book will allow us to hit this new investing landscape running,” — albeit in a sustainably violent way…
If you are seeking measurable ways to factor ESG into company performance, this is an excellent starting point…
Get the book here.
Suggestions welcome if you would like to nominate a book for us to cover!
Our next Book of the week will be unveiled Saturday in the EI Weekend Edition.
& don’t forget if you want all the news on the bourse business sent daily to your Inbox subscribe to Exchange Invest — via Exchange Invest.com — it’s only $349 per annum to join “The Exchange of Information.”
BITCARNAGE
Cheer Up, The Worst Is Yet To Come!
The crypto kiddies and even the Brussels Bugle continue to trumpet their perception that Grayscale’s procedural win in court amounts to more than the pyrrhic victory we perceive. Thus too in their celebrations that it will soon be back to partying like a distributed Russian, they miss the point we made in “Another Day, Another Pyrrhic Victory” (August 30th): when the SEC seals stuff in court, the odds are it certainly isn’t a birthday card and cake for CZ’s birthday or somesuchlike. John Reed Stark echoes our view from last week that Sealing Docs In Binance Case Could Suggest A Criminal Probe (X/Twitter). With 35 for now secret exhibits plus 37 supportive submissions, I wouldn’t suggest this is the sort of stuff a few X/Tweets of “4:FUD!” can rapidly disperse. Stark makes good points — as a civil litigant, SEC usually doesn’t seal. Why would they seal? The clear inference as we noted last week must be that somewhere behind the process lies criminal charges.
Meanwhile, if they run a gameshow for “America’s Most Exasperated” right now I believe Judge Lewis Kaplan would only have to wander on stage, say the acronyms “SBF” and “FTX” in order to have the judges backlight the auditorium with green ticks as he proceeds unimpeded to the grand final with ULL alacrity.
The latest from the ‘dream team’ representing SBF is that they reckon the DOJ are acting ‘In bad faith” because they are from what I can see — and indeed what Judge Kaplan can see in greater detail and with a vastly more astute legal standing — doing their jobs to prosecute the one-time boy prince of crypto.
Thus we are on tenterhooks, watching to see if there will be a trial postponement request as the defence apparently reckon SBF is not having a fair go at blamestorming his woes on anybody but himself:
Meanwhile, In a statement which doesn’t need any further comment but may deserve outright derision there is the Decrypt headline Binance Is ‘Way Ahead Of The Game’ On US Regulations, Says CZ. Maybe the notion Binance is “way ahead of the game in terms of regulatory compliance” is what the US SEC sealed in their court documents last week? I know, I know, everything is “FUD” in the CZ mindset when it involves not acquiescing to his worldview that every day Binance is stronger.
PODCASTS THIS WEEK
Does The Financial Industry Actually Get Digital Disruption?
Digital Disrupted with Paul Muller
PLY: I really enjoyed being interviewed by Paul Muller for the “Digital Disruption” podcast recently. We delved into the ever-evolving world of finance in the digital era, I hope you will enjoy it.
MACRO THOUGHTS
Visualized: U.S. Corporate Bankruptcies On the Rise
Visual Capitalist
OF INTEREST
As always, a review of interesting reading to provoke thoughts and consideration… Not sure we agree with much of it….but it’s thought-provoking!
Sanctions Are Failing To Turn Putin’s Oligarchs Against Him
The Spectator
The EU Is Heading For A Bruising Showdown With Eastern Europe
The Spectator
Padel: Why Maduro Is Cracking Down On Venezuela’s Hottest New Racket Sport
Bloomberg
Star Citizen Hits $600 Million In Crowdfunding, Solidifying Its Status As Most Expensive Game By Development Costs
Game World Observer
Why CEOs And Footballers Attract Different Levels Of Outrage About High Pay
The Conversation
CEO pay often attracts more outrage than footballers’ record wages — what does this say about the value we place on different jobs and skills?
Report: CEOs Who Pay Poorly Do Fabulously
Ohio Capital Journal
The mechanism CEOs often used to boost their pay over the past few years has been the stock buyback.
LAST WORD
…If you want to stay abreast of the world of exchanges then please Subscribe to our Daily Newsletter — free 30 day trial.
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You can also check out the “Reflections From Young’s Pyramid”, it illustrates the relative value of exchanges around the world.
Or the “ICE Cost of Borrowing 2020–2022” An Interest Rate Comparison, which illustrates the end of the funny money era of QE and how interest rates have already had a major lurch up from their previous region of zero to, even negative, levels.
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Catch up on Monday for Exchange Invest 2758…
The future continues in the water cooler of the bourse business…
- Patrick
