Welcome back to another edition of Tidbits covering all the recent things worth talking about in business, media, and technology.
🤑 Economics + Markets
#1 US Inflation Quickens to 40-Year High, Pressuring Fed and Biden
US inflation accelerated to a fresh 40-year high in May, a sign that price pressures are becoming entrenched in the economy. That will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes and adds to political problems for the White House and Democrats.
#1 Microsoft Attack Blamed on China Morphs Into Global Crisis
A sophisticated attack on Microsoft Corp.’s widely used business email software is morphing into a global cybersecurity crisis, as hackers race to infect as many victims as possible before companies can secure their computer systems.
The attack, which Microsoft has said started with a Chinese government-backed hacking group, has so far claimed at least 60,000 known victims globally, according to a former senior U.S.
This felt necessary not only because the Paper Portfolio launched with a (largest) 7% position in Sea but because Capital Flywheels had not seen a company as exciting and mis-priced as Sea since…Shopify in 2016, Apple in 2014, or Facebook in 2012.… Read the rest “Sea – Monster in the Making”
Apple Card launched earlier this week to wide interest and seems to be generating more consumer buzz than I would have guessed from the reward structure (which looks average). But I’m glad the company has launched such a product because it gives me an opportunity to write about Apple, a company that holds a special place in my heart not least because I have been an Apple product user for almost 3 decades.… Read the rest “Apple Card’s Strategic Value”
Today, Alibaba and Amazon are likely household names and for good reason. Both of them are giants straddling a number of industries and likely touch close to 2 billion consumers annually. Both of them also tend to be trendsetters that determine the evolution of markets / industries (or at least in thought).