Business
The Palace Coup at the Magic Kingdom. If you want to read about a spectacular failure in corporate governance and petty office politics, look no further than this fantastic account of what transpired at Disney.
Goldman’s Credit-Card Exit Hampered by Lax Lending Standards. A new issuer needs time to succeed in the credit card world. It needs to learn how to acquire customers, nurture the relationship with existing customers, continuously improve all aspects of operation and leverage data. And data can’t come overnight. If you want to measure performance of a cohort, you need to give it 24-36 months at least. As rich as Goldman Sachs is, the famous bank can’t buy time. So I wonder what Goldman Sachs expects after venturing into credit cards only in 2020 with Apple Card. The proof of the bank’s inexperience lies in the bad accounts they originated for the GM portfolio. It’s like they want to complete a marathon, but give up only after a few tough practices.
The Man Who Made Nike Uncool. I am not saying that a consultant from the likes of McKinseys or Bains wouldn’t make a great CEO. The evidence of the opposite is just so plentiful. Nike is another example. It thrived under the old CEO, who rose through the ranks as a shoe designer. Under the new CEO with a consultant background, Nike got an initial jolt of triumph, but is currently under serious jeopardy. Cut-throat competition from behemoth rivals & startups alike, low employee morale, broken management and stale innovation.
Other Stuff I Find Interesting
($) China’s Arctic Dreams Make a Tiny Port a Global Prize. An interesting article on the role that this tiny and remote town in Norway plays in geopolitics. China wants to establish its presence in Kirkenes and uses it as a port to deliver goods to both Europe and North America. The town, especially since the Russia-Ukraine war, has badly needed more investments. The Norwegian government is wary of China and the consequences that its investments bring. Rightfully so. What baffles me is that the article doesn’t mention the US government at all. With the resources that the US intelligence service has, I don’t believe it is not aware of what is happening in Kirkenes. So the lack of actions seems telling.
How pour-over coffee got good. A history lesson on pour-over coffee and coffee in general.
Are Some Ultraprocessed Foods Worse Than Others? “The researchers also combined their findings with those from 19 other studies, for a separate analysis of about 1.25 million adults. They found that those who consumed the most ultraprocessed foods were 17 percent more likely to develop cardiovascular disease, 23 percent more likely to develop coronary heart disease and 9 percent more likely to have a stroke compared with the lowest consumers. Of the 10 ultraprocessed food categories they looked at, two were clearly associated with greater risk: sugar-sweetened drinks (like soda and fruit punch) and processed meat, poultry and fish (like bacon, hot dogs, breaded fish products, chicken sausages and salami sandwiches).”
Apple’s AirPods Pro 2 could forever change how people access hearing aids. If this is not innovation, I don’t know what is. A technology company invented an over-the-counter earbud that can help people with mild/moderate hearing loss at a significantly cheaper price than the alternatives on the market. Granted, consumers have to have an iPhone with iOS18, but they can use it for their daily needs too. If they already have such an iPhone, this announcement is a win.
Stats
OnlyFans content creators made $6.6 billion in 2023
The Consumer Price Index was 2.5% in August 2024, signalling cooling inflation
“Vietnam’s rideshare industry was valued at $727 million in 2023”
U.S. Private Label spending is now 20% of the total market
Minh Quang Duong 
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