#ReadingList features informative, interesting and inspiring quick reads curated from Tiller’s team Slack #ReadingList channel, Twitter, and newsletters.
It’s Amazon’s Economy, We Just Live in It
Amazon was majorly in the news this week, and our team was talking about it. Read our take on the news that Amazon plans to open 3,000 new cashier-free stores in 3 years.
With the release of a huge number of Alexa-enabled devices this week, Wall Street Journal writer Laura Stevens noted on Twitter that “Amazon makes a major play to turn everything in your home smart.”
Amazon makes a major play to turn everything in your home smart. https://t.co/0peLW0FQnK
— Laura Stevens (@laurastevens) September 20, 2018
And the New York Times wondered “Hey, Alexa, Why is Amazon Making a Microwave?”
One of my favorite newsletters Morning Brew covers this story in “Alexa, Don’t Burn the Popcorn.”
Meanwhile, a large survey from Bain found commercial banks should fear the possibility of Amazon Bank Accounts.
Dow Jones Industrial Average All-Time High
It was an epic week on Wall Street as the Dow Jones Industrial Average set an all-time high, led by Apple. The S&P 500 also traded at a record high.
Speaking of stocks, I kept hearing about a Canadian company named Tilray this week. That’s because its shares dramatically rocketed up 90% after the CEO was on TV bragging about the company. At one point this week Tiray had a bigger market cap than General Mills. It’s sharply down as of this writing, but still up for the year.
Speaking of All-Time Highs…
I kept hearing about a Canadian company named Tilray this week. That’s because its shares dramatically rocketed up 90% after the CEO was on TV bragging about the company. At one point this week Tiray had a bigger market cap than General Mills. It’s sharply down as of this writing, but still up for the year. The “rational market,” indeed.
As Big Data Drives Investing, What Does That Mean for Privacy?
Simone Foxman: They’re scraping the web for mentions of companies. They are using credit card data and trying to predict a company’s behavior, based on the number of subscriptions they can parse out to The New York Times. That is a real example that I’ve heard of. There’s also some satellite data that’s used.
Molly Wood: So … as you look at the data analysis and the artificial intelligence, do you see a potential for an obvious predatory direction for this new technology?
Foxman: I actually think it’s more about privacy. The kinds of data that the really high-end firms are using isn’t as anonymized as you might think. And regulators don’t seem to care that much about this. But there’s a lot of information that people can parse together about you, particularly if you don’t live in someplace like New York City. If you’re one of 10 millionaires in a small town in Oklahoma or something like that, there’s a lot of information about you that can be traced to you specifically. So the ways that people put these data together is a little bit disturbing, and there’s not a lot of oversight there.
Back to Market Highs – What About the Next Downturn?
Spoiler alert: many experts think it’s due in 2020.
See also: “How the Financial Crisis Drastically Increased Wealth Inequality in the U.S.” via Harvard Business Review.
Speaking of Downturns…
Is the “Best Time To Start A Business” during a downturn? Financial Samurai thinks so.
It’s Not About The Money, It’s About The *Lifestyle*
I think we get so caught up in wanting more all the time that we don’t step back to see the overall picture. Or even realize that we have it in our power ALREADY to craft a life we love before hitting our financial goals! Read the rest on Budgets Are Sexy.
Don’t Miss These Personal Finance Videos for Young Adults
PBS Digital Studios is producing an excellent video series to guide 20-somethings who are starting their careers and want to get a handle on their finances. See them here.