Fast Five Articles: Week of 11.22
4 Charts That Explain the Stock Market (A Wealth of Common Sense): I view the stock market as a way to invest in innovation, profits, progress and people waking up in the morning looking to better their current situation. Yes, the stock market goes up over the long run but it can also get crushed in the short run. That can be difficult to see on a log chart with 200 years of data. Looking at this chart got me thinking about what other visuals I would use to help explain the stock market in greater detail.
Why businesses are pulling billions in profits from China (BBC): Foreign businesses have been pulling money out of China at a faster rate than they have been putting it in, official data shows. The country's slowing economy, low interest rates and a geopolitical tussle with the US have sparked doubt about its economic potential.
Wall Street’s ESG Craze Is Fading (The Wall Street Journal): Wall Street rushed to embrace sustainable investing just a few years ago. Now it is quietly closing funds or scrubbing their names after disappointing returns that have investors cashing out billions.
Sam Altman returns as OpenAI CEO after days of infighting at AI startup (NBC News): The hot tech startup behind ChatGPT said late Tuesday that Altman and the board of the nonprofit group that oversees the company came to an agreement in principle for Altman to return as CEO with a new board to replace the one that ousted him Friday. Altman's return should quell what was an all-out revolt by OpenAI employees against his removal and mark the beginning of the end of one of the most-watched corporate sagas in tech history.
How Electricity Is Changing, Country by Country (The New York Times): Carbon-free electricity has never been more plentiful. Wind and solar power have taken off over the past two decades, faster than experts ever expected. But it hasn’t yet been enough to halt the rise of coal- and gas-burning generation. Much of the rising power demand has come from rapidly-developing countries like China and India, where new coal plants are still coming online alongside wind and solar farms to power meteoric economic growth. But many industrialized nations are also not moving away from fossil fuels fast enough to meet their stated climate change goals.