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🎙️ The Critical Path
[2 minutes to read] Plus: Americans love small businesses
Shawn O'Malley & Matthew Gutierrez
March 23, 2024
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Weekend edition
Here’s something we think is pretty cool: A wealthy New York City couple has bought run-down waterfront properties and rented them out to tenants with Section 8 rent vouchers.
The housing is open to many low-income families, but it’s especially for the formerly incarcerated.
“Moving to the ocean was so profound and restorative for our family that we wanted to share it with as many people as we could,” they said. “I wondered: Who needs the water the most? People who spent time living in cages seemed like a good place to start.”
💭 Cool charts, quotes, and other tidbits below in 2 minutes to read.
— Matthew and Shawn
Quote of the Day
“The hard part of running a business is that there are a hundred things that you could be doing, and only five of those actually matter, and only one of them matters more than all of the rest of them combined.
Figuring out there is a critical path thing to focus on and ignoring everything else is really important.”
— Sam Altman
Cool Charts
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Tune In
🎧 How to build enduring wealth with William Green and Guy Spier
🎥 The rise of Pinduoduo and Temu: profits and secrets
🎥 How 2024’s record retirement numbers could spark a recession
🎧 The playbook to retiring early with Steve Adcock
What We’re Reading
📖 Books: Read, Write, Own by Chris Dixon
📰 Long-form articles: Joel Greenblatt: The Magic of Value Investing
🗞️ Advice: The immense power of gratitude in business and life
Trivia
What was the most valuable company in the world in the year 2000?(Measured by market capitalization) |
Tweet of the Week
“The desire for more, the fear of missing out, the tendency to compare against others, the influence of the crowd and the dream of the sure thing—these factors are near universal. Thus they have a profound collective impact on most investors and most markets. This is especially… twitter.com/i/web/status/1…
— We Study Markets (@WSM_TIP)
Mar 17, 2024
Final Thoughts
🔢 One Big Number: $1.85 — that’s the price of a hot dog and soda at Costco. The number hasn’t budged since 1985, and CFO Richard Galanti reassured the Costco faithful, saying the price is “probably safe for a while.”
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See you next time!
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