It’s the end of may! Circuit Breaker (CB)-lite coming to an end soon (hopefully).

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No, Millennials Aren’t Poorer Than Previous Generations
(Of Dollars and Data)

Great piece with lots of charts and well-sourced data.

4 Lessons From the Crypto Crash
(A Wealth of Common Sense)
INSIDE THE RISE AND FALL (AND RISE AND FALL) OF SHIT COINS
(Vanity Fair)

Crypto two-fer. The crypto market is extremely volatile and only time will tell if this is a crash or the start of another bull market.

I have many thoughts on whether crypto is going to be the currency of the future (unlikely). It’s not so much whether it’s technologically possible but more of the willingness of the people in charge (i.e. governments). Can you imagine a government turning off the internet or restricting their citizens’ access to exchanges like Coinbase or Binance? That’ll effectively kill the crypto market in that country.

Plus, if you’re a citizen of a country, would you rather a cryptocurrency backed by a stable government or coins backed by public ledger whose value can be subject to the whims and fancies of internet billionaires (thanks Elon!)? My guess is that eventually, currencies will become some sort of stablecoin but that will make it harder for people to avoid paying taxes (think of those operating cash-based businesses).

As for crypto, unless they have some of utility like Bitcoin (store of value?) or Ethereum (with smart contracts and the network effect of many projects using their blockchain), everything else will languish in obscurity.

The $2,000 a month Lifestyle of a DINK Singaporean Couple
(Investment Moats)

I only linked to this for the link to the YouTube video. It’s pretty amazing that they only spend $2,000 a month as a couple. Even some of the most thrifty people I know say that they probably need $2,500 a month. That’s for ONE person. So effectively, this couple is spending 5x less on a per person basis. Talk about efficiency!