Friday's Fast Five: Week of 6.30
Hey Dad, Can You Help Me Return the Picasso I Stole? (The New York Times): A painting that went missing in 1969 turned up at a museum’s doorstep before the F.B.I. could hunt it down. No one knew how or why — until now.
Apple Hits $3 Trillion Market Value—And Could Soar Another $800 Billion (Forbes): Apple’s market capitalization soared past $3 trillion Friday, a historic milestone as the world’s largest company continues to grow larger thanks to resilient profits and product sales.
The Great Grift: How billions in COVID-19 relief aid was stolen or wasted (AP News): An Associated Press analysis found that fraudsters potentially stole more than $280 billion in COVID-19 relief funding; another $123 billion was wasted or misspent. Combined, the loss represents 10% of the $4.2 trillion the U.S. government has so far disbursed in COVID relief aid. That number is certain to grow as investigators dig deeper into thousands of potential schemes.
The Next Crisis Will Start With Empty Office Buildings (The Atlantic): Offices are struggling perhaps more than most casual observers realize, and the consequences for landlords, banks, municipal governments, and even individual portfolios will be far-reaching. In some cases, they will be catastrophic. But this crisis, like all crises, also represents an opportunity to reconsider many of our assumptions about work and cities.
The Risks of Storing Money in Apps Like Venmo and Cash App (The New York Times): Millions of Americans use mobile payment apps to pay friends, family and retailers, but they may not know that money held in the apps often lacks federal insurance protection.