đđ» Hello friends,
Welcome to the 53rd edition of the Sunday Drive. Happy Anniversary! I canât believe a whole year has passed since we began⊠and boy, what a year itâs been.
Let's take it easy and enjoy a leisurely Sunday Drive around the internet. Â
Vibin'
New Wave music was never really my thing as a teenager, being more the guitar band sort of fan. But⊠I was always impressed with the creative minimalism that The Cars brought to their songs. This week Iâm vibinâ to Moving in Stereo from their 1978 self-titled debut album⊠and it has ABSOLUTELY NOTHING to do with the swimming pool scene from Fast Times at Ridgemont High. đ
đ Â Quote of the Weekâ
"The pessimist sees difficulty in every opportunity. The optimist sees opportunity in every difficulty." - Winston Churchill
đ Â Bonus Quote of the Weekâ
âNever bet against optimism. It always wins.â - The Dragon Slayer
đ Â Charts of the Week
Note the growth in Non-Bank Financial Intermediary (NBFI) assets. If thereâs a place where the Federal Reserve Bankâs epic interest tightening cycle could break things, it might very well be the âShadow Banking Systemâ.
đ Interesting Drive-By's
đ€ Steve Jobsâ Legacy for Builders - Life can be much broader once you discover one simple factâand that is: everything around you that you call life was made up by people that were no smarter than you.
đ What Makes You Happy - The richest youâll probably ever feel is when you get your first paycheck, and your bank account goes from $5 to, perhaps, $500. The contrast that generates might be greater than going from $10 million to $20 million. Going from nothing to something is so much more powerful than going from a lot to super a lot.
đđ» Easily Distracted? You Need to Think Like a Medieval Monk - Focusing wasnât much easier in the time before electricity or on-demand TV. In fact, you probably have a lot in common with these super-distracted monks.
đ OpenAI: the Next Tech Giant? - Itâs pretty rare for a company to transition from a research lab to a developer infrastructure provider to a behemoth consumer app in just a few years. But given the launch of ChatGPT plugins last week, thereâs a fair chance this could end up being the story of OpenAI.
đ§ Life Expectancy and Inequality - America is seeing the greatest gap in life expectancy across regions in the last 40 years.
đ Weekly Call 2 Action
Given how the calendar works out this tax year, TAX DAY is Tuesday, April 18th - not April 15th (aka âYesterdayâ). So if you havenât finished your taxes yet, you can think of this yearâs deadline as a sort of âDaylight Savings Time for Taxesâ.
đđŒ Parting Thought
If you have any cool articles or ideas that might be interesting for future Sunday Drive-by's, please send them along or tweet 'em at me.
âI hope you have a relaxing weekend and a great week ahead. See you next Sunday...
Your faithful financial provocateur,
-Mikeâ
If you enjoy the Sunday Drive, I'd be honored if you'd share it with others.ââ
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