Hi, Quartz community!
Greetings from Quartz, where we closely monitor the latest business trends, with a particular focus this week. We’ve observed positive consumer sentiment, contrasting performances between Warren Buffett and the S&P 500, and the emergence of a group tired of rising streaming costs, affectionately referred to as “pirate vibes.” Additionally, the buzz around OpenAI’s innovative product, Sora, which transforms text into videos, has been remarkable (expressed in a single emoji: 😲).
However, the highlight of the week was our deep dive into the thriving economy of Grateful Dead t-shirt trading in our Weekly Obsession. Despite Jerry’s absence, the vibrant market for the band’s merchandise continues to flourish—a vivid reflection, with a hint of nostalgia, on the enduring allure of band merchandise to fans and collectors alike.
Here are some standout pieces from Quartz and beyond over the past week to enrich your reading list for the upcoming week. Enjoy!
Top 5 Picks from Quartz
🦄 The Era of Super-Unicorns: Exploring the saturation of billion-dollar companies and the emergence of the super-unicorn phenomenon, particularly in the field of AI, as expertly dissected by Michelle Cheng.
👕 Reviving a Fashion Icon: Delving into the intriguing tale of a struggling children’s apparel chain rescued by an unexpected player—the prominent family behind Saudi Arabia’s largest private bank. Melvin Backman unravels the financial drama at The Children’s Place.
💋 Beware of AI Companions: Unveiling the unsettling reality behind AI girlfriends, as revealed by *Privacy Not Included, a consumer guide from the Mozilla Foundation. Britney Nguyen sheds light on the potential risks associated with these virtual companions.
🎓 AI Education Revolution: Examining the growing significance of AI skills in the job market and the introduction of a bachelor’s degree program in artificial intelligence at a prestigious university, as expertly covered.
🏠 The Rise of AI Careers: Discussing the potential for AI to create a new wave of career opportunities, as highlighted by MIT economist David Autor’s research on the transformative impact of technological advancements.
Exclusive Preview
While Laura Bratton’s in-depth analysis on the economic impact of poor air quality on American businesses is slated for Monday, we’re offering an early glimpse at her insightful chart. Stay tuned for more!
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Graphic: Quartz
Anticipated financial losses for US businesses due to declining air quality over the next three decades:
✂️ $125 billion: Average annual income reduction for US workers attributed to air pollution, based on a study by the National Bureau of Economics Research (NBER).
🪓 $209 billion: Projected additional income decline for the American workforce by 2054, utilizing recent pollution data from the EPA, NBER findings, and First Street estimates.
💼 1.2 billion: Global count of workdays lost annually due to air pollution.
🗓️ Upcoming Highlights
Key Events to Watch Out for This Week:
- Tuesday: Earnings reports from Walmart and Home Depot.
- Wednesday: Quarterly results from Nvidia, now the third-largest US company, along with updates from Rivian and Public Storage.
- Thursday: Financial updates from Keurig Dr Pepper, Moderna, and Block (Square).
- Friday: Insights into Warren Buffett’s investment strategies pre-Berkshire Hathaway’s earnings release, and a potential glimpse into Warner Bros. Discovery’s sports streaming service plans during their investor call.
Thank you for being part of our community! Wishing you a productive week ahead, and feel free to share your thoughts, queries, or any AI-related opportunities. Sunday Reads curated by Susan Howson, Gabriela Riccardi, and Morgan Haefner.
