Today’s most shared:
- A strong jobs report.
- Obama says Wall Street bonuses are a moral hazard, invite excessive risk-taking to earn big bonuses while shareholders and taxpayers bear the downside risk. Also, ‘arbitrage’ doesn’t mean what he thinks it does.
- ECB says rates to remain low for ‘an extended period,’ reduces frequency of meetings to every 6 weeks from monthly, releases implementation details on TLTRO market operations.
- Google casting BBC stories about Stan O’Neal down the memory hole after European ‘right to be forgotten’ ruling, triggering “Streisand Effect,” whereby the attempt to remove information merely draws attention to it. Also, Goldman Sachs wants an order for Google to ‘unsend’ a misdirected email that went to an @gmail.com address instead of @gs.com.
- Disruption debate: Turnover in market leadership happens more often in the US than in other countries, or in the past. Maybe disruption is over-hyped, and maybe Clayton Christensen’s model of sustaining vs. disruptive innovation has shortcomings, but disruption seems to be a thing…ask your favorite local newspaper, chocolate bar feature phone or buggy whip manufacturer.
- Behind every startup is a founding myth, and someone who got frozen out. Also, startups are organizational behavior hot-houses, and not necessarily in a good way.
Have a great Fourth!
The jobs numbers are in. And they’re good. Here are some of the important charts we pulled from the guts of the report.
shared by @DanielAlpert, @jennablan, @Fullcarry
Regis Barnichon explains why, in light of recent reports on U.S. job growth, the unemployment rate is likely to remain steady for the foreseeable future.
shared by @ObsoleteDogma, @Fullcarry, @JustinWolfers, @UpshotNYT, @TheStalwart
A wide-ranging interview about the economy with President Barack Obama.
shared by @kevinroose, @BCAppelbaum, NYT Dealbook, @tomkeene
shared by Business Insider, @davidmwessel, @ecb, @EconBrothers, @LorcanRK
The state of modern macroeconomics is not good; John Cochrane, professor of finance at the University of Chicago, senior fellow of the Hoover Institution, and adjunct scholar of the Cato Institute, thinks macroeconomics is a failure.
shared by @davidmwessel, @MarkThoma, reddit/Economics, @Noahpinion, @JustinWolfers
Google notifies the BBC that a story about Stan O’Neal will no longer be searchable.
shared by @charlesforelle, @NickMalkoutzis, @lucymarcus, @BCAppelbaum
The type of throat cancer Jamie Dimon has is curable in as many as 90 percent of cases with a treatment regimen that poses challenges for his demanding work schedule as chairman and chief executive officer of JPMorgan Chase & Co.
shared by Here Is The City, Crossing Wall Street
Xi’s anti-corruption campaign has gone farther than any in the country’s modern history.
shared by @DavidBarboza2, @niubi, @HamzeiAnalytics
I admit that I’m mystified by Jill Lepore’s article in the New Yorker attacking Clayton Christensen and his theory of disruptive innovation.
shared by @EddyElfenbein, @counterparties, Marginal Revolution
Devotees of Austrian economics hold a bizarre set of beliefs about the economy that flies in the face of reality.
shared by reddit/Economics, @Noahpinion, @ObsoleteDogma, @MarkThoma
Goldman Sachs Group Inc said a contractor emailed confidential client data to a stranger’s Gmail account by mistake, and the bank has asked a U.S. judge to order Google Inc to delete it.
shared by @fiatcurrency, @kevinroose, @Techmeme, @EpicureanDeal
All the major indexes are showing slowdowns in house price gains.
shared by Abnormal Returns, reddit/Economics, @calculatedrisk, @CMEGroup
The group says failure to pay up will result in bad Yelp reviews.
shared by @kevinroose, @JacobWolinsky, @ObsoleteDogma, @SconsetCapital
The lawsuit by Whitney Wolfe, a co-founder, alleges all sorts of immature shenanigans.
shared by @TheStalwart, @kevinroose, @foxjust, @mccarthyryanj, @FGoria
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