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Experts vs. Imitators Think of all the money managers who borrow their talking points from Warren Buffett. They might sound like Buffett, but they don’t know how to invest the way Buffett does. They’re imitators. Charlie Munger once commented: “It’s very hard to tell the difference between a good money manager and someone who just has the patter down.”
Imitators can’t answer questions at a deeper level. Specific knowledge is earned, not learned, so imitators don’t fully understand the ideas they’re talking about. Their knowledge is shallow. As a result, when you ask about details, first principles, or nonstandard cases, they don’t have good answers.
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WorkWorkSchool calendars are torturing parents. ChatGPT can help. - Business Insider (No paywall)Anyone responsible for a school-age child has dealt with the nightmare task of the school calendar. School calendars are often formatted as a PDF, image, or Word doc — and are often incredibly mobile-hostile. Trying to find it on the school's website or in your email (why do schools send everything as attachments?! Ugh!) is a nightmare when you need to look up whether your kids have school on Presidents Day.
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WorkCan Solar Costs Keep Shrinking?The more solar panels we1 produce, the cheaper they get. If the trend continues for a few years, the promise is that electricity will be too cheap to meter. Indeed, solar is already the cheapest source of electricity.2 Work
WorkAmazon is using my grocery purchases to sell me prescription drugsIndependent journalism is more important than ever. Vox is here to explain this unprecedented election cycle and help you understand the larger stakes. We will break down where the candidates stand on major issues, from economic policy to immigration, foreign policy, criminal justice, and abortion. We’ll answer your biggest questions, and we’ll explain what matters — and why. This timely and essential task, however, is expensive to produce. WorkReal-Estate Shopping for the Apocalypse - The New Yorker (No paywall)What if they’re right? What if a nuke drops, or climate change turns the world into a foaming puddle, or the next pandemic is spread through selfies? Billionaires have recently been spending millions building themselves customized bunkers, in the hope that they can ride out the apocalypse in splendor. In January, a video surfaced of the rapper Rick Ross bragging that his bunker will be better than Elon Musk’s bunker. (Musk is not known to have a bunker, but that’s a detail.) Ross’s bunker will have multiple “wings” and a “water maker.” Also, plenty of canned goods. Ross’s bunker might even have its own bunker. But what about me—and, if I’m being generous, you? Are there affordable underground shelters available for us to hole up in?
WorkWhy Sudan's catastrophic war is the world's problem - The Economist (No paywall)The war in Sudan has received a fraction of the attention given to Gaza and Ukraine. Yet it threatens to be deadlier than either conflict. Africa’s third-largest country is ablaze. Its capital city has been razed, perhaps 150,000 people have been slaughtered and bodies are piling up in makeshift cemeteries visible from space. More than 10m people, a fifth of the population, have been forced to flee from their homes. A famine looms that could be deadlier than Ethiopia’s in the 1980s: some estimate that 2.5m civilians could die by the end of the year. Work
WorkMeta Kills Off an Augmented Reality System That Many Creators Relied On - Inc.com (No paywall)Meta announced yesterday that it's ditching one of its augmented reality systems: Meta Spark. This tool let creators apply AR filters to videos shared on Meta's social platforms like Instagram, adding some 3D graphical pizazz to otherwise regular content. The tool's been used countless times by "hundreds of millions of people across Meta's platforms," the company's blog post says. But Meta's decided to kill it off as part of its "larger efforts to prioritize the products we believe will best serve the future needs of our consumers and business customers alike." WorkWhat the heck is "corn sweat" and is it making the Midwest more dangerous?Independent journalism is more important than ever. Vox is here to explain this unprecedented election cycle and help you understand the larger stakes. We will break down where the candidates stand on major issues, from economic policy to immigration, foreign policy, criminal justice, and abortion. We’ll answer your biggest questions, and we’ll explain what matters — and why. This timely and essential task, however, is expensive to produce.
WorkHow Nayib Bukele's 'Iron Fist' Has Transformed El SalvadorBefore he became arguably the most popular head of state in the world, Nayib Bukele was an adman. The President of El Salvador has branded himself the “world’s coolest dictator” and a “philosopher king,” but he is, perhaps above all, a former publicist attuned to the power of image—his own and his country’s. On the day we met in late June, at the presidential offices in San Salvador, Bukele was dressed all in black. Nine brilliant peacocks roamed the lawn outside. “A leader should be a philosopher before he is a king,” Bukele told me, reclining in a chair as the sun set over the lush jungle grounds, “rather than the typical politician who is hated by their people.” Work
WorkA New Approach to Knowledge-Sharing Within Organizations - Harvard Business Review (No paywall)There are significant trade-offs inherent in traditional knowledge-sharing tools and mechanisms, such as operating manuals or trainings. The more comprehensive the instructions, the less likely that they’ll be absorbed and understood by employees. The more precise the instructions, the less they allow for customization or employee initiative. And the more rigid the instructions, the less they can evolve as circumstances change. The authors instead propose an approach they call an “evolvable script” — a concise, modular instruction set outlining the purpose of a task alongside the most critical actions for accomplishing it. By focusing only on the essential actions, it allows for easy absorption and daily use. Moreover, it leaves room for employee discretion in how exactly to carry out tasks, enabling workers to tailor their approach to the situation at hand or try out new variations. These interpretations can be easily reviewed, alongside their outcomes, to evolve the script over time to reflect new circumstances and learnings. Work WorkWorkUber's latest self-driving partner is an AI startup backed by Nvidia and MicrosoftUber in 2020 sold off its self-driving car project to Aurora Innovations AUR, which agreed to let its driverless vehicles eventually operate on Uber’s services. The firms have since teamed up to work on driverless trucks as part of Uber’s freight division. Uber also has a partner in Waabi, the driverless truck startup led by Raquel Urtasun, who previously led Uber’s research into driverless vehicles. WorkWorkOpinion | America Needs Georgia Republicans to Defend Democracy AgainOfficials in the governor’s office have said they are seeking counsel from the state attorney general to determine whether the governor has the authority to address the ethics complaints. A spokeswoman for Mr. Carr noted that he refused to comply with an unrelated demand from the State Election Board this summer to open a new investigation into the 2020 election in Fulton County, where large Democratic turnout led Joe Biden to win the state. Hopefully, this is a sign that Mr. Carr would use the powers of his office to reject other outrageous behavior by the board. WorkAffirm shares have best day in three years, surge 32% after earnings beatBank of America analysts said in a note last month that rate cuts would be beneficial to Affirm\'s funding costs and for gain on loan sales. The company moved its merchants to a 36% APR cap on loans, up from 30% previously, and analysts said this \"should remain a tailwind for yields and GMV growth.\" WorkStarlink's local bank accounts are frozen as X prepares to be shut down in Brazil“We are absolutely not insisting that other countries have the same free speech laws as the United States,” the company wrote in a statement published in English and Portuguese. “The fundamental issue at stake here is that Judge de Moraes demands we break Brazil’s own laws. We simply won’t do that.” The company said it planned to publish Moraes\' \"illegal demands and all related court filings\" in the coming days. WorkOpenAI and Anthropic agree to share their models with the US AI Safety InstituteUnlike the non-binding agreement with the federal government, the California bill would have some teeth for enforcement. It gives the state’s attorney general license to sue if AI developers don’t comply, especially during threat-level events. However, it still requires one more process vote — and the signature of Governor Gavin Newsom, who will have until September 30 to decide whether to give it the green light. WorkSpotify says Apple 'discontinued' the tech for some of its volume controls on iOSAccording to TechCrunch, Spotify is once again blaming Apple for violating the Digital Markets Act (DMA), which aims to stop \"gatekeepers\" from using \"unfair practices\" with their products and services. This includes interoperability with operating systems and software features. Spotify was only able to display pricing in its app in the EU this month, following a €1.8 billion ($1.95 billion) fine back in March for restrictions it placed on other music streaming apps on the App Store. WorkWorkWorkWorkWorkWorkWorkWorkWorkWhy Taiwan Semiconductor Stock Had a Thursday to ForgetBank of America is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy. WorkWorkStranded ISS astronauts reveal the US space programme is not in crisis - New Scientist (No paywall)It’s official: Butch Wilmore and Sunita Williams are staying on the International Space Station (ISS) until at least February. This is a major setback for Boeing’s Starliner, the capsule that brought them there, but it doesn’t spell doom for the US space programme. Instead, it highlights the success of the move from governments providing the only rockets to space to the proliferation of commercial spaceflight options. WorkDonors Quietly Push Harris to Drop Tax on UltrawealthyAllies and staff of Ms. Harris have defended the plan to business leaders in private conversations, explaining that the tax would apply to only a small slice of wealthy Americans and could be delayed for investments that are not easily sold, according to the people familiar with the conversations. WorkIs Capri Sun ditching its iconic pouches?Capri Sun originally launched in Germany in 1969. By 1979, it entered the U.S. market and quickly became a hit among young consumers. The brand, acquired by Kraft Heinz KHC in 1991, has continued to reinvent itself. Its latest move could expand its market presence among adults and reinforce its position as a popular kids drink in America. WorkSeniors could save thousands with Biden's cap on out-of-pocket drug costs, study saysThe $2,000 cap was introduced in the Inflation Reduction Act (IRA), which AARP advocated for and President Joe Biden signed into law in 2022. The bill also set a $35 monthly cap on out-of-pocket insulin costs for Medicare enrollees. Additionally, it gave Medicare the power to negotiate lower prices with drug makers for medications that made up the most of the program’s drug spending. WorkThere are more 401(k) millionaires than ever, Fidelity saysWhat’s more, the Social Security Administration has warned that the trust funds that some 66 million Americans rely on will be depleted in 2034 due to an overburdened social security system unable to keep up with the growing number of retirees and people living far longer than they used to. WorkPush for Gender Equality in E.U.'s Top Roles Looks Set to Fall Short“It’s not a small thing, asking for gender balance and clearly not getting it,” said a senior European official. “It’s not just one, two countries.” Speaking on condition of anonymity because the process was ongoing, the official said that indicated Ms. von der Leyen’s relations with member states would be more difficult. WorkCNN's Dana Bash to Interview Harris and Walz on ThursdayMs. Bash, 53, the anchor of “Inside Politics” on CNN, started at the network as a producer shortly after graduating from college; she has been a stalwart of the channel’s campaign coverage since 2000. Ms. Bash and Mr. Tapper received praise for their efforts at the June debate, where they played a muted role as the candidates clashed onstage. WorkLooking for Information on L.G.B.T.Q. Travel to Florida? Don't Ask Florida.Colin Lienhard, a gay architect and designer who lives in Miami, said that he had felt a shift in people’s openness toward gay people, even in liberal Miami, and so he wasn’t surprised by the removal of the pages. The effort to hide information that could be helpful feels like a continuation of what he feels has become normal in Florida: asking L.G.B.T.Q. people to be silent. “It’s another example of them trying to erase that we are here,” he said. WorkApple and Nvidia in Talks to Invest in OpenAITripp Mickle reports on Apple and Silicon Valley for The Times and is based in San Francisco. His focus on Apple includes product launches, manufacturing issues and political challenges. He also writes about trends across the tech industry, including layoffs, generative A.I. and robot taxis. More about Tripp Mickle Work'Climate-Friendly' Meat? Regulators Tighten Scrutiny of Label Buzzwords.The new guidance follows growing concern by environmental advocates and consumer protection groups about what’s often called greenwashing, or the practice of making misleading claims about a product’s environmental impact. And it reflects growing scrutiny by courts and regulators around the world on the labeling of products aimed at consumers concerned about the environment. WorkThese Architects Embrace Local Styles. And They Fly to Work, Too.“The focus has been on the structure, not the behavior that built it,” Dr. Tello-Ramos said. She said she found that surprising because nest building is one of the rare behaviors that has a tangible product, something that can be measured and provide insight into why birds behave the way they do. WorkNo Vaccines, Tests or Treatments: Congo Lacks Tools to Confront Mpox“We thought when there was an emergency declaration from the World Health Organization in 2022 that then we would get help with surveillance and really understanding this disease,” said Dr. Jean-Jacques Muyembe-Tamfum, the director of the National Institute of Biomedical Research in Kinshasa. WorkWorkMongoDB shares surge 13% on guidance boostManagement nudged up their fiscal 2025 forecast. MongoDB now sees $2.33 to $2.47 per share in adjusted earnings, with $1.92 billion to $1.93 billion in revenue. That\'s up from the May guidance of $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. Analysts had predicted $2.26 per share in adjusted earnings, along with $1.90 billion in revenue. WorkDell beats estimates as server sales soar 80%, riding AI waveDell\'s Client Solutions Group, which focuses on PCs and laptops, declined 4% on an annual basis to $12.41 billion in revenue. Consumer sales fell 22% to $1.86 billion, and the company\'s enterprise PC business was flat at $10.55 billion in sales. TradeBriefs Publications are read by over 100,000 Industry Executives About Us | Advertise | Privacy PolicyUnsubscribe (one-click) You are receiving this mail because of your subscription with TradeBriefs.
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