South Korean authorities have requested that Interpol tell international authorities to arrest Do Kwon, the co-founder of the company behind the Terra/Luna cryptocurrency debacle, The Financial Times reports. Kwon tweeted this weekend that he is not on the run, actually, and authorities are just mad that he tweeted that their size is not size. Posters gonna post, I guess.
Loved this meaty essay about trends in consumerism, what we mean by “culture,” and how DTC brands led to a new understanding of community and identity. “In the 2010s, supply chain innovation opened up lifestyle brands. In the 2020s, financial mechanism innovation is opening up the space for incentivized ideologies, networked publics, and co-owned faiths,” writes Toby Shorin. “The authenticity-driven culture of ironic detachment, so present in the early 2000s, has given way to a moment where people are genuinely open to being influenced, open to sincerely participating, even if it’s cringe.”
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In some places, such as Scandinavia and Alaska, moose are big hazards. (Moose crashes can be fatal for people.) So a master’s student developed a moose crash test dummy to help carmakers improve moose safety. “The crash test results were very pleasing since the demolished cars looked very much like cars involved in real moose crashes,” wrote Magnus Gens, who won a 2022 Ig Noble award for the work.
[www.diva-portal.org]
FedEx says a recession is coming. Why should that make you nervous? Well, former Fed chair Alan Greenspan used to talk with FedEx every week for the “FedEx indicator.” If you’re still raising for your company, you might want to hurry up and close the round.
Also, some career advice: run over your absentee boss
Hey, remember Game Stonk and the meme trading “revolution” that peaked and fell back last November? Netflix’s Eat the Rich is here to recap that very recent history, again. The production looks less 90s-era MTV than Diamond Hands: The Legend of WallStreetBets, but I really wonder if there’s any new ground to cover.
Kwon, the founder of Terraform Labs, was at the center of crypto’s biggest scandal this year: the cataclysmic collapse of Luna/Terra coins from $60 billion to zero. South Korean authorities issued the warrant for his arrest on “allegations that include violations of the nation’s capital markets law,” Bloomberg reports. Kwon is in Singapore.
[Bloomberg.com]
“As a mom, I would be grateful if my college student son was not allowed to own or trade stocks. And as a member of Congress, I’m working to pass a law to force him to listen to his mother,” she told The New York Times.