Avert your eyes! My Sunday morning have a look at incompetency, corruption and coverage failures:

• The Reality About Musk, From His Biographer: A viral Bluesky thread launched tens of 1000’s world wide to a primary glimpse of a forthcoming biography of Elon Musk. Right here—in a single essay—is a few of what the world simply realized. (Proof)

• The California Job-Killer That Wasn’t: The state raised the minimal wage for fast-food staff—and employment stored rising. So why has the legislation been proclaimed a failure? (The Atlantic) see additionally The Minimal Wage Claims You Hold Listening to Are Completely Pretend. We Can Show It. In September 2023, California handed a legislation to convey quick meals staff’ minimal wage up from $16 to $20 an hour. A flurry of stories predictably adopted from the likes of The Wall Road Journal, Employment Insurance policies Institute, and the Hoover Establishment claiming that eating places and different companies have been already shedding staff based mostly on the brand new legislation. This December, Ohanian retracted his declare; Hoover retracted 8 further Ohanian claims.  (Drop Site)

• America’s Well being Insurance coverage Grinches: A Scathing Indictment of “Market” Economics: The nation’s flawed insurance coverage mannequin, pushed by greed, results in inefficiency, inequality, and denied care – a colossal rip-off that has sparked fury throughout the nation. (Institute for New Economic Thinking)

• Insurance coverage and Taxes Now Value Extra Than Mortgages for Many Owners: Ballooning bills rewrite the mathematics of homeownership. (Wall Street Journal) see additionally Migration Into America’s Most Flood-Susceptible Areas Has Extra Than Doubled Because the Begin of the Pandemic: Practically 400,000 extra folks moved into than out of essentially the most flood-prone counties in 2021 and 2022—a 103% enhance from the prior two years. The counties most weak to wildfires and warmth have additionally seen extra folks transfer in than out because the housing affordability disaster pushes People into disaster-prone areas. (Redfin)

• She Blew Her Life Financial savings. How Tech Is Turning Informal Spenders Into Binge Consumers. The rise of affiliate hyperlinks, Purchase Now buttons, and different know-how has made it simpler than ever to binge, typically with dire penalties. (Barron’s)

• Substack Has a Nazi Drawback: The e-newsletter platform’s lax content material moderation creates a gap for white nationalists wanting to get their message out. (The Atlantic) see additionally Antisemitism, False Data and Hate Speech Discover a Dwelling on Substack: Platforms with extra lenient content material moderation insurance policies, like Substack, present fertile floor for the unfold of hateful rhetoric and false info – a identified catalyst for offline hurt and violence. (ADL)

• How Syria’s rebels overcame years of a bloody stalemate to topple Assad: The Syrian regime’s collapse got here extra rapidly than the rebels had dreamed — the circumstances have been each serendipitous and half of a bigger world realignment. (Washington Post)

•  Is There One thing Extra Radical than MAGA? JD Vance Is Dreaming It. In a candid collection of conversations, Vance revealed an ominous philosophy behind his first yr in workplace. (Politico)

• How America Created the Enemy It Feared Most: America killed its personal allies, sabotaging itself in part of Afghanistan the place it by no means wanted to be. (New York Times)

• Legalization of on-line sports activities betting generates an 8% enhance in bank card debt amongst sports activities betters. The poor are disproportionately affected: low earnings households spend 32% extra on betting than excessive earnings households. (“Playing Away Stability: Sports activities Betting’s Influence on Weak Households“) (SSRN)

Make sure to try our Masters in Business interview this weekend with Sunaina Sinha, International Head of Personal Capital Advisory at Raymond James. She was named one of many 50 Most Influential People in Private Equity for two years in a row by Dow Jones Personal Fairness Information, and earned a spot as one of many Twenty Trailblazing Women in Private Equity in 2023.

U.S. Wealth Inequality: Gaps Stay Regardless of Widespread Wealth Positive aspects

Supply: Federal Reserve Bank of St. Louis

Sign up for our reads-only mailing list here.

~~~

To learn the way these reads are assembled every day, please see this.

The put up 10 Sunday Reads appeared first on The Big Picture.