Feldman's Faves: October 25, 2021

Good Morning BL5 – I hope everyone had a nice weekend. It definitely feels like fall out there but I guess this is what happens in Canada. Thanks to everyone who was able to make the FINAL BL5 ZOOM on Friday. JC and I had a lot of fun doing these over the last two years and we appreciate everyone’s participation (and lack of visible eye rolling…). For me it was a poor man’s equivalent of walking down the halls and chatting with everyone but I am glad we were able to stay connected in this small way during this time. The next chapter is starting and I am sure we will continue to thrive together.

Along those lines, I have decided that next week will be the Final Episode of the JON'S WEEKLY BOOK AND PODCAST RECOMMENDATIONS series. We will find new ways to stay in touch as we move into Phase 2 of our back to the office plan.

No theme this week – just interesting stuff.

Janesville – An American Story – By: Amy Goldstein – This book came out in 2017, long before the Covid crisis was even a consideration in our minds. Janesville is the story of the people of this once thriving Wisconsin town that gets destroyed when the longest operating GM plant in US history gets shuttered in the wake of the Great Recession of 2008. Goldstein introduces the reader to countless generations of people from this town and captures the (now) old story of how changes in manufacturing in the US heartland have led to a destruction of a once thriving middle class. The macroeconomic factors and the firm specific issues that describe the shutting of the plant are not very enlightening or new, but the description of how these changes impact the people of the town are very informative and disturbing. One example, is the proliferation of food cupboards in schools and the psychological processes that people go through in accepting the need for help, the process for getting that help and the manner by which different individuals cope with the shame of no longer being able to provide the basic necessities of life for themselves and their families. The book looks at a cross section of people ranging from local bankers to factory workers to teachers. None of them are doing well. There is some hope that the people of this town have a can-do spirit that will find new opportunities, but I am not so sure. One interesting development to come out of Covid is a rethinking of the supply chain and how local production might actually start to make sense. So while not in the book I think towns like Janesville may have a better chance at rebirth than they did before. But I guess we will see. Here is a good review from Goodreads - https://www.goodreads.com/book/show/33665908-janesville

TED Talks Daily - How NFTs are building the internet of the future | Kayvon Tehranian - I am trying to get my head around the concept of non-fungible tokens (NFTs), which as I understand them (and based on a simple definition that I Googled) are unique and non-interchangeable units of data stored on a digital ledger. NFTs can be used to represent easily-reproducible items such as photos, videos, audio and other types of digital files as unique items and use block chain technology to establish a verified and public proof of ownership. Confused – join the club. In this PODCAST the NFT concept is explained a little bit better than I just did but I am still really unclear on how it works, where we find the value and if it will be sustainable. That said, many people that are way smarter than me are making a fortune here – so I am clearly missing something. Here is an excerpt from the PODCAST itself that might be instructive: In this revelatory talk, technologist Kayvon Tehranian explores why NFTs -- digital assets that represent a certificate of ownership on the internet -- are a technological breakthrough. Learn how NFTs are putting power and economic control back into the hands of digital creators -- and pushing forward the internet's next evolution: https://podcasts.apple.com/ca/podcast/ted-talks-daily/id160904630?i=1000537637425

Thank you for your ongoing engagement and participation.

And remember to stay safe, stay healthy and to docket daily.

Jon