Andrew Ross Sorkin
@andrewrsorkin
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@NYTimes Columnist/Editor & @SquawkCNBC Co-Anchor. Author, 1929, Coming Oct. 14 + Too Big To Fail. Founder, @DealBook. CoCreator, BILLIONS @Showtime. Proud Dad.
Joined April 2009
So Trump has access to the nuclear codes but he can't Tweet or post to Facebook.
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Please pray for my pal @DavidLat. He is only 44 years old. He is a brilliant mind and a kind soul. All of us are pulling hard for him right now. #COVID19 #StayAtHome
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There is a financial literacy epidemic in America. Quick lesson: NYC wasn’t handing cash to Amazon. It was an incentive program based on job creation, producing tax revenue. There isn’t a $3 billion pile of money that can now be spent on subways or education.
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I remember this morning very well. I had spoken to @elonmusk by phone earlier and written a column in @nytimes for that morning and then went on the air with the news. The truth is I thought the comp plan was the most “skin in the game” in history. I still do. I have criticized.
@elonmusk @alex_avoigt Here's how CNBC broke the news when the Tesla board announced the new 2018 CEO Compensation Plan on January 23, 2018, when Tesla was trading at a $59B market capitalization. 🔊🍿. @andrewrsorkin called it:."dare I say crazy"."perhaps the most radical compensation plan in history"
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I’m terribly distressed by the disappearance of journalist Jamal Khashoggi and reports of his murder. I will no longer be participating in the Future Investment Initiative in Riyadh.
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Reminder: @SouthwestAir accepted $3.2 BILLION from taxpayers. That money kept its pilots employed during the pandemic. It also made @SouthwestAir the first airline to post a profit. And now, apparently, many of those pilots don’t want to help society by getting vaccinated.
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The self-checkout at the airport kiosk today asked whether I’d like to tip 15%, 20% or 25%? It is a SELF-CHECKOUT. What is happening?.
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The long term impact of $AMC + $GME isn't about what happens to these companies or their stocks. It is about the public, which views the stock market (and economy) as something that is manipulated and not trusted.
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I've been working on this NYT project for months: Many of the deadliest mass shootings in the US were carried out by killers who used credit cards to buy high-powered weapons+ammunition that they couldn’t otherwise afford. No one was watching.
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My open letter to Walmart's CEO:. You, singularly, have a chance to use your role as CEO of the country’s largest retailer to change the way guns are sold in America to prevent massacres like the one in your El Paso store.
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With apologies @MelanieWhelan1, level with customers. Mr. Ross has a controlling stake in @soulcycle. He is not a passive investor by any definition. Which means your profits are his profits. He's using his profits to support Trump. That's the reality.
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It is a bailout. Not like 2008. But it is a bailout of the venture capital community + their portfolio companies (their investments). That’s the depositor base of SVB. It is the right thing to do in the moment, but there will be ramifications + new regs. VC’s should say thank you.
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Just brought my child to an urgent care center because she had a fever and I wanted to get her checked out. The doctor, nor the nurses, wore any masks. “Why would we mask if we are vaccinated?” the nurse told me. I was dumbfounded. I turned around and walked out.
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Warren Buffett this AM:. "Trade should not be a weapon.". “It’s a big mistake in my view when you have 7.5 billion people who don’t like you very well, and you have 300 million who are crowing about how they have done.". “We should be looking to trade with the rest of the world.".
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My 10 year old son just asked me, “If I make money, why do I have to pay tax?” I said because everybody does. He replied: “But no taxation without representation. And I can’t vote at my age.”.
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“I don’t think it’s a great idea to design a world where a few countries say ‘ha-ha-ha, we won’ and the rest of the countries are envious.”. - Warren Buffett.
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Me to my 9 yr old: “We need to build some structure into your days.” Him to me: “Dad, the world is falling apart. There is no structure. These are very stressful times.”.
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Happy February. And goodbye January, which felt like a painfully long month.
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I am so moved by the words of @KillerMike. I’ve watched and rewatched this. It is worth watching in its entirety no matter your politics, race or anything else. None of it should divide us. #Together
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Nice going @google. Advertisement of the year. Hands down. It captured all of our emotions in under 60 seconds. And I 🥲
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Sad personal news: My grandmother, Lilly, at age 102, has passed away. I have celebrated her birthday on here for many of years + a bunch of you have been kind to keep in touch about how she was doing. She lived an awesome life and taught me so much.💔.
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My kids just played a pretty sophisticated April Fools joke on me + I totally fell for it. They sent me this email from Roblox saying my credit card was charged $1,000. I ran into their room with steam coming out of my ears. I was punk’d. Nice going, kids.
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Why is it that Nebraska businesses are getting 90% of PPP loans approved and NY/NJ businesses, the hardest hit, getting a fraction of that?.
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A lot of folks have been asking if I would still be interviewing @SBF_FTX at the @nytimes @dealbook Summit on Nov 30…. The answer is yes. 👇. There are a lot of important questions to be asked and answered. Nothing is off limits. Looking forward to it….
I’ll be speaking with @andrewrsorkin at the @dealbook summit next Wednesday (11/30).
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We all want K-12 to reopen safely in fall. To do so, why is there no conversation about devoting federal funds to create mandatory regular testing at schools+provide significant PPE for teachers? Even assuming kids are low risk, it would protect teachers+communities+help economy.
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Sad to report Vernon Jordan has passed away. One of the great civil rights leaders of our time. Adviser to @BillClinton and many other leaders.
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There’s been a lot of emotions and analysis about Biden’s projected win this morning. But of everything I’ve watched, this struck me as the most raw and honest moment.
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On my run through Central Park this morning, I made a point of saying “Good morning!” to every person I encountered. I encountered 355 people. 128 said “Hello” or “Good morning” back. 41 gave a head nod. 186 didn’t acknowledge. (165 wore headphones, some whom did reply).
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Breaking: Jamie Dimon will not be attending the FII conference in Saudi Arabia amid reports of Jamal Khashoggi's murder.
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Controversial thought experiment: What would happen if companies told universities that they wouldn’t hire ANY of their students unless the schools take decisive action to end blatant antisemitism on campus. After all, no company would use an executive search firm with even one.
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Fact check: This is misleading, if not inaccurate. 1) JPM took a $25B loan from Treasury because the govt insisted; it didn’t want it + paid it back. The Senator then conflates $391B of loans from Federal Reserve as taxpayer money, which it traditionally would not be considered.
That's funny. Jamie Dimon seemed fine with corporate socialism when his bank got a $416 billion bailout from American taxpayers.
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I was just on the phone when this question came up: If a state decides to prematurely lift rules against the guidance of CDC, should it be eligible to receive federal help if it later needs it as a result? Discuss. .
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Investment advice from Warren Buffett. If you can talk to a CEO, ask them this question: If you were stuck on a desert island for 10 years, which of your competitor's stock would you buy? And which would you short?.
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Several years ago, I went to a fancy dinner and when I arrived, I was told they were moving my seat to put me next to a big-name politician. They said he wanted to meet me. I said, “Really?” When I sat down, the politician said, “I loved The West Wing.” 🤦🏻.
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Does everything need to be a Zoom call? What about just a regular phone call?.
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"Biden's beef with @elonmusk seems to be a big missed opportunity — politically. He has helped turn the most famed entrepreneur of our time, even if erratic, from being a Biden supporter — Musk voted for him — to a vocal backer of Republicans.".
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When you think about the impact one person's life can have on others, think about this remarkable moment and Alex Trebek. R.I.P.
Jeopardy! episode last week:. Alex Trebek: “Any family members back home cheering you on?”. Contestant Burt Thakur: “I learned English because of you. My grandfather who raised me. I used to sit on his lap and watch you every day.”.
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When people lose money, lots of money, they don't blame themselves. They blame others. They blame the system. I've been trying to raise questions about the system. But right now, nobody is interested because there is too much money to be made. Until there isn't.
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My 9 year old son this morning: “There is a new show I started watching on my iPad: The Simpsons.”.
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Ok. So this happened. It is NOT us at all. Fully generated by artificial intelligence. The video, audio. All of it.
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The responses here are crazy. Vaccinated people can transmit COVID. Especially Delta. CDC says medical facilities are REQUIRED to mask. NY requires masking (where the urgent care was — btw so does Broadway or US Open) Kids under 12 aren’t vaccinated. We went to different doctor.
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My two cents: @Apple Vision Pro is the future. It is likely a game changing, historic moment. But it is super pricey. If you can afford the future now, you’ll buy it. If you can’t, it’ll be even better (and lighter!) if you wait into the actual future. Either way, the future is
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This 👇👇👇.
"What put my life on a different trajectory was that someone intervened to give me an opportunity to close that opportunity gap," says @Merck CEO Ken Frazier. "We're not asking people to give everybody handouts but we need to acknowledge that there are huge opportunity gaps."
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“At your highest moment, be careful. That’s when the devil comes for you.” . Denzel Washington. (He always has the right words.).
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When your kids surprise you on your birthday at work. Thanks to them, my wife, @JoeSquawk, @BeckyQuick and the @SquawkCNBC producers for making my morning!
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This will require our allies wanting to work with us. We have managed to taunt our closest allies + we are trying to extract tariff deals from them too. We probably have to choose where we are going to extract big deals from — our allies or China. Getting both is hard.
🚨 BESSENT: U.S. COULD APPROACH CHINA AS A GROUP WITH ALLIES.
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Teachers, whose entire professional mission is to educate and keep kids safe, won’t require the vaccine among themselves. (This after the union didn’t want teachers in the classroom for nearly a year.) Let that sink in.
The New York State Teacher’s Union says they do not support a vaccine mandate
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@the_transit_guy The plane was likely just being “repositioned” — as in the plane was sitting at one airport and then was moved to a different airport to pick up its passengers. This happens all the time. Planes often sit at a less busy airport and then fly to another one close by.
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Just learned an amateur paparazzi took my pic while I was eating OUTDOORS nearly 6 weeks ago (10/27) when COVID positivity rate in Manhattan was 1.07%. (I refused to sit indoors nor in tent behind me. ) It isn’t hypocrisy; it’s consistency. #Science #StayHealthy.
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This is, far and away, the best shareholder letter I've ever read. I don't say that lightly. It is @JeffBezos' last as CEO of @amazon. Read it until the very end. There are some real and profound lessons in there.
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This is laughable. The traditional banking system services billions of people transacting billions of times a day. #Bitcoin uses half the energy with a fraction of the utility. cc: @novogratz.
A new paper says #Bitcoin actually uses way less energy than the traditional banking system. And it's not that close.
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A missed Q for Zuck: When a user uploads a pic or video, what kind of machine learning and AI is used to tag it? Walk us through it step by step. How are those tags then used to build a social graf for advertisers and internal purposes?.
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I have no interest in protecting hedge funds or the system. It needs reform and I’ve argued for various regulations for years. My only interest is helping protect investors who can’t afford to lose. While many are very sophisticated, others aren’t. Be careful out there.
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I’m headed to Davos. I know, I know. Before you say it is a global cabal seeking profits for the elite, let me say this: Is everyone there self-interested? Yes. Emphatically, yes. But…I don’t know anywhere else that you can put all of these self-interested people, representing
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.@lloydblankfein, a critic of Trump, said: “For Wall Street, it was lower taxes, less regulation. He was delivering what ‘we’ wanted. We put a clothespin on our nose. We weren’t ignorant of the kind of risks we were taking. We repressed them.”
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Disgraceful. Tell that to the families of the nearly 100,000 who died and in many cases couldn’t even pay their respects in person because of this virus.
@andrewrsorkin Is it really 100,000? —How is it possible New York City’s death rate is 10 times higher than the rest of the country—Flu deaths in this country went to zero over the last two months. — Yeah —but poignant headline —Fear sells.
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Warren Buffett said the $137 billion he had on hand “isn’t all that huge when you think about worst-case possibilities.”. Let that seep in. My @nytimes column.
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THIS IS FAKE!!!! I have nothing to do with Sorkincoin whatsoever. I do not endorse it. I do not own it. Please be careful folks. While it is flattering, please know you are not supporting me if you trade this coin.
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CEOs often say they don't want to wade into politics. It isn't political to call out those that defend hate, implicitly + explicitly. #lead.
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Some serious words to think about. Muhammad Ali says them with smile and a laugh, but there is real truth underneath it. Please watch…. (h/t @SRuhle).
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Trying to understand Bitcoin's price movements this weekend. If it is, as Bitcoin bulls believe, a store of value, during a war, wouldn't it be a considered safe haven? And if it is a hedge against inflation, wouldn't buyers rush to it out of fear that countries will spend more.
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Aren't the politicians that are now trying to defund the IRS the same people who condemned those seeking to defund the police?.
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I've been arguing for a tax structure that incentives long term investing for more than a decade. So I'm with you, @chamath. One distinction: I'd include an AMT, so the wealthiest aren't paying lower rate than their secretary, as Buffett says.
Buffett once said: “It’s not about timing the market, it’s about time in market.”. There should be a step down in capital gains tax for individuals as they hold stocks. 20% per year decrease in cap gains tax. 0% after a five year hold period. Incentivize long term behavior.
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My @nytimes column: As companies "pause" donations to candidates, they should consider making their halt permanent. The donations undermine credibility. The money is seen as a bribe for legislation and the legislation is seen as a favor in return.
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"Andreessen Horowitz is investing about $350 million in Flow. the largest individual check Andreesen Horowitz has ever written in a round of funding to a company, values Flow at more than $1 billion before it even officially opens its doors."
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The First Amendment does not require printers to print every newspaper, cable services to carry every channel, book publishers to publish every book. It protects your right to stand on the corner + say what you want, assuming you’re not calling for a lawless action. #parler.
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Reminder: ByteDance originally was going to make @Microsoft its “tech partner” (cloud host) w/minority interest early this summer. Trump administration said ByteDance needed to sell full control of US biz. Now Trump is discussing accepting “tech partner” deal w/ @Oracle? C’mon.
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Sad to report that Arne Sorenson, CEO of Marriott, has passed away. He had been battling pancreatic cancer since May 2019. He created the modern day Marriott and acquired Starwood hotels. He also happened to be a very good guy.
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Reading @SahilBloom’s book The Five Types of Wealth. The amount of time we spend with others is almost inverse to what I wish were true. Trying to think about how can I bend these curves!
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American business has succeeded because we have been a nation of laws, and a democracy that the world believed in. If that democracy + its laws are not defended, the environment that has allowed American companies to prosper will no longer be a sure thing.
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An exhausting week of work + virtually no sleep is an obvious reminder: Sleep is everything. When I don’t sleep, I’m too tired to exercise and I eat junk to keep my energy and focus, often to no avail. It is a vicious cycle. #getsomerest #sleep.
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I covered the financial crisis + I watched all the finger pointing in its aftermath. The blame was on the banks. It was uncouth to raise the idea that some regular folks made mistakes or speculated. When $GME music stops, watch the people on here pumping it blame someone else.
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I'm excited to share a secret I’ve been keeping: For the past eight years, I’ve been working on a follow-up to my book, “Too Big to Fail.” I’ve written what I think of as a prequel: a nonfiction, character-driven, behind-the-scenes account of 1929, the year of the most infamous
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Just out. My column: Here's a novel idea to keep lawmakers from trading stocks without needing a sentence of new legislation.
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A masterclass in class. This is what we need more of in society. Thank you @serenawilliams.
Most will focus on the video of Serena and the chair umpire, but this video in which @serenawilliams displays incredible sportsmanship is the one I will show to my daughter when she is older. Class. #USopen .
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Breaking News: Howard Schultz will leave @Starbucks at end of month. End of era. Says he will consider “public service” among options. Speculation will mount about 2020. I’m going on @CNBC NOW to discuss. Read my story here:
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Tomorrow morning on @SquawkCNBC: Mark Zuckerberg, @Facebook’s CEO, on future of remote work + #WFH, @Twitter fact-checking Trump and Big Tech in age of #COVID. Join us.
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What do you think of this? Reasonable? Unreasonable? Please leave comments in the replies. Looking for a constructive conversation about solutions that acknowledges the current system isn’t working.
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His dream came true almost exactly as he articulated it two decades ago…congrats @JeffBezos.
Jeff Bezos, June 2000: “If I could do anything, I would like to go help explore space.”
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You can now watch all of the interviews in full. .
Full recordings of @andrewrsorkin interviewing Kamala Harris, the president of Taiwan, Elon Musk, Bob Iger and others at the DealBook Summit are now available:
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Re: encouraging "herd immunity," there is evidence that even mild cases are resulting in long term lung damage. We won't know until more studies. But it should be a risk factor added to the equation of reopening before we have testing + ppe at scale.
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Fascinating statistic from @ezraklein: "The Senate is split 50-50, but the 50 Democrats represent more than 41 million more Americans than the 50 Republicans." He says, "This is not a good system."
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As @Tesla's market cap passes $1 trillion today, I keep thinking about everyone (including myself) who thought @elonmusk's attempt to take the company private at $420 a share was an act of insanity. Instead, it would have been the deal of the century. He knew. #fundingsecured
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Looking for a sign of the top. but I can’t find a sign anywhere 🔭🔭🔭
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My essay in today's @dealbook: "Important questions must be asked about business leaders who enabled Mr. Trump and, in turn, share some degree of responsibility for the disgraceful acts that took place in Washington yesterday.".
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I genuinely want to learn. Please explain this: After the financial crisis, media was blamed for not blowing whistle loudly enough ahead of time to protect "public." Now, media cautions about $GME mania to try to protect "public" and is told public doesn't need protection.
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