Revolutions, Dope & More: EI Festive Weekend Edition 3162
From revolutions in the USA & Capital Markets to Dope property wreckage, Covid origins & more…
Lest you missed any, here are our previous weekend festive editions:
December 21st: EI Weekend Edition 3152: China & Other Futures
December 28th: EI Weekend Edition 3157: Y2024 Second Reel
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 Young. Monday through Friday our daily paid subscriber email discusses the business of bourses of all kinds across the world.
On this day in 2021, the New York Stock Exchange withdrew plans to delist shares of three Chinese state-owned phone carriers. The shares were to be removed under an order from President Donald Trump, a move Beijing had warned might lead to retaliation.
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MACRO THOUGHTS
The Status Quo:
- USA is 60.5% or more of the world’s total market capitalization;
- The top 3 stocks in the USA EACH have a higher market capitalization than either the London or Paris stock exchanges.
- EU growth past 15 years 9%, US growth 86%. …See also point 1.
That said, for all the fascination of reading stats and appreciating the dynamism of the US economy and watching its markets blossom, the whole process can be encapsulated thus: Exchange Invest Rings The Closing Bell — and we loved every moment of the process. Thank you NYSE for the great honour of ringing the Closing Bell.
Further to the epic campanology I had a great chat on macro fintech issues with Trinity Chavez: Patrick L. Young, Chairman of Exchange Invest Joins NYSE TV Live! (NYSE YouTube) — thank you NYSE TV! And then we joined Jen Ilkiw for a chat (IPO VID 098: Jennifer Ilkiw — ICE: Cresting The Derivatives Wave & ICE’s Jennifer Ilkiw Discusses Futures Markets With Patrick L. Young, Chairman Of Exchange Invest).
EI Weekend 3009 was our special Vive La Revolution! Edition celebrating 25 years of Capital Market Revolution! Then 13th July we celebrated a brace of revolutions in the US and CME! As well…”With one bell ring and a few gavel bashes at its core, we had the best day ever Friday July 5th!”
IPO-VID Livestream
2024 saw no fewer than 37 IPO-VID livestreams for the year, you can watch them all here.
EXCHANGE INVEST WEEKLY PODCAST
We have produced 50 EI Weekly podcasts for the year 2024, you can listen to them all here.
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!
Opinion | How I Learned To Stop Worrying And Embrace Going Cashless In China
South China Morning Post
Google’s AI Overviews Will Always Be Broken. That’s How AI Works
WIRED
Has ‘Tipflation’ Hit The Tipping Point?
Newsday
PLY: At which point I would like to rotate that tablet screen in your direction with a suggestion you sign here and hit a button which remarkably seems to start at 18% and goes up…just for putting a croissant in a paper bag and making the coffee you already paid a king’s ransom for while I did what used to qualify as “doing your job.” Then again I suppose baristas are seriously discriminated against in, say New York as they actually turn up to work every day whereas the everyday bourgeoisie of Manhattan seem to have given up on at least Mondays and Fridays and might grace the office Tuesday-Thursday if the boss class are lucky. Strange times.
Paradise Squashed: How The NFL Ruthlessly Took Down The Pioneers Of Online Sports Betting
SI
PLY: The usual tale of how folks with zero foresight first destroyed the concept of trading sport…then rose to embrace it having torched the entrepreneurs with foresight.
How Music Lost Its Value
Fast Company
L’Affaire Negresco
Airmail
There Is Now Very Little Doubt That Covid Leaked From A Lab
Spiked-Online
Toxic Homes For Sale: How California’s Illegal Marijuana Industry Ruins Houses
The Epoch Times
PLY: There are some kind readers who — very kindly and generously — think I know all manner of things about almost everything but I remain a total drugs dweeb. However, what strikes me as odd here is that if as the dope peddlers readily attest that cannabis is not remotely harmful seems to be in contrast to the architectural damage outlined in this story. That the business of illicit cannabis is estimated at 80% of the California market despite dope being legal, suggests the glib concept of alcohol prohibition ending is yet another big fat fail for the dismal thinking of the lost generation of government.
Asteroid That Killed The Dinosaurs Came From Beyond Jupiter
Scientific American
Entrepreneurship, Business, And Economic Reform In North Korea
The Diplomat
PLY: Now there’s a remarkable headline…
Book worth reading:
CAPITAL MARKET REVOLUTION
First published in 1999, “Capital Market Revolution!” offered a clear, concise roadmap for navigating the financial revolution fueled by technology. And 25 years later, as the world of fintech continues to evolve, the core principles laid out in the book remain surprisingly sharp
This new edition was produced to celebrate PLY ringing the NYSE Closing Bell July 5th, 2024. There are several new sections of PLY pith to add 10,000 more words of context and the original book which is remarkably prescient and elegantly dated all at once! It’s only $9.99 on Kindle, a fraction of the original price in 1999 to encourage revolutionaries with any budget!
Get the book here.
*Paid link, as an Amazon Associate, Exchange Invest earns from qualifying purchases.
IPO-VID LIVESTREAM PODCAST
During 2024, we produced 41 IPO-VID livestream podcasts.
You can listen to them all in different podcast sources:
EI Website | Spotify | Apple Podcast | Anchor
LAST WORD
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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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