We Officially Live in Interesting Times
Donald Trump, the No-Longer-Presumptive Nominee
Well, it happened: On Wednesday, Donald Trump officially received enough delegates to be the Republican presidential nominee. (He also promised to dismantle the "totalitarian" EPA, falsely accused a senator of lying to get into Harvard, and offered to debate Bernie Sanders for charity -- but that's all in a day's work.)
Despite his victory, not all is well in TrumpNation. Albert Hunt points to new evidence that his support among working-class white voters is shaky, while Ramesh Ponnuru argues Hillary Clinton could demolish him with a single well-chosen talking point.
Right-Wing Populists Are Running Out of Time
Meanwhile, Leonid Bershidsky notes a striking similarity: Trump's supporters look a lot like those of Norbert Hofer, the far-right candidate who very nearly won Austria's presidential election this week. But if demographics are destiny, he says, then right-wing populists in both Europe and America should prepare for a long decline.
Worker Discontent Makes Tesla a Union Target
If the future of the auto industry is in Silicon Valley, the future of auto unions will be, too. The Detroit stalwart UAW has its eye on Elon Musk's electric car manufacturer, and Edward Niedermeyer says a little disruption could mean survival for both sides.
Google Will Become the Prey, Not the Predator
It may be true that the Internet breeds monopolies, but Google has nothing on, say, Standard Oil. In an excerpt from the forthcoming "Modern Monopolies," Alex Moazed and Nicholas L. Johnson argue that today's dominant companies are more vulnerable than their 20th-century predecessors, and that platform competition -- not antitrust regulators -- will rein them in.
If You're Such a Great Investor, Where's Your Alpha?
Beating the market once is hard enough. Doing it over and over is something special. Barry Ritholtz hunts for the managers who consistently create alpha, and examines whether their returns are really sustainable.
- How to fail well (The Motley Fool)
- Hedge fund managers betray glory days with groupthink (FT)
- What's driving Silicon Valley to become "radicalized" (Washington Post)
(Read Barry Ritholtz's full daily news roundup.)
- Biotech's vicious secondary cycle
- Apple's in no rush to save big media
- Corporate America still can't do moderation
(Read more from BV's sister site for fast business commentary.)
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