Going to change the format for these newsletters around to more closely match Rob Henderson’s and Chamath’s weekly newsletters. Don’t want my good writing to be lost in this sea of updates.

Enjoy.

The Essentials

1) Bitcoin just had its 4th halving, the programmed event that takes place every 4 years that halves the rewards miners get for securing the network. In English, last week, miners got 6.25 bitcoins every time they mined a block; now, they get 3.125 bitcoins every time they mined a block. As you can see, this supply cut typically leads to an increase in price.

2) Protesting doesn’t significantly change political attitudes, behaviors, or ideologies. Likewise, it doesn’t increase the notoriety of a political topic for more than a few weeks or months. The only exception? BLM.

3) Latin America, the poster boy for income inequality, is rapidly becoming more equal. Progressives want to credit it to center-left redistributive policies, but the real solutions appear to be a lot of growth and a lot of education.

4) Only 26% of Americans said that having children is extremely important for having a fulfilling life.

The Extras

• Murder rates are down bigly.

• Chinese EVs got US automakers stressing.

• California is losing tech jobs.

• Finance bros, your job isn’t safe.

• Free Uri Berliner.

• If you're Canadian, I am so sorry.

• Contrary to popular belief, Gen Z is actually like really rich.

Until next time, ✌️

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