November is a month of chills and cooling off. Not just literally but figuratively. So many things have been cooling off, dying off, or just ending this month. Many things, but not all things.
Dying: A year ago crypto exploded in a fireball. Now all that’s left are the embers. Last month the fraud / conspiracy trial of Sam Bankman-Fried (SBF) was underway. How did it go? Well, not great for SBF. He was evasive under cross examination. His lawyers did not do well with their closing arguments. It didn’t help that so many of his coworkers plead guilty and cooperated with prosecutors. In the end it took the jury less than five hours to find him guilty on all charges. No doubt pictures like this couldn’t have helped his case:
What a mess.
If you want to read more about it all, this piece by Zeke Faux is good. Check out his book too. You can read the book Going Infinite by Michael Lewis as well, though this review which discusses how he fell for the antihero (SBF, not Taylor Swift) makes me wonder if I would bother, even though I like Lewis’s other books.
The other big player in crypto is Changpeng Zhao (CZ) of Binance. Is? Was. The SEC has been cleaning the Aegean Stables that is crypto and went after him and forced him to plead guilty and step down from him company.
In the end the only people I felt sorry for in all this debacle was SBF’s parents. Do I feel bad for crypto investors? Well in April of 2022 the Financial Times sat down with SBF and more or less explained how SBF’s crypto yield farming was a ponzi scheme. If you had major money in crypto after reading that, then you got what was coming to you, I’m sorry to say.
Cooling off: after being heated in all the ways, China is starting to cool off. Last year China and Xi were at their aggressive peak, lecturing Trudeau and others with their wolf warrior diplomacy.
Well that’s gone, and Xi recently adopted a milder manner in this month’s meeting with President Biden. Wolf warrior diplomacy is dying off. No doubt some of that has to do with the many problem that China is suffering, from real estate problems to high youth unemployment to the decline of their belt road loans program.
That said, while China seems to be backing away from invading Taiwan, they are still being very aggressive in dominating the South China sea, as these two stories here and here show. They are still aggressive at home, too, as this piece on China spies campaign shows.
It’s not all bad news for Xi and his country. This is good news, for instance: China’s war on pollution has great improved air quality for their citizens. But things could be better. Will they be under Xi is the question. Read The New York Times piece on Xi’s rule and decide for yourself. Don’t miss this piece by Noah Smith either. Smith thinks the Chinese leader is incompetent and he makes a compelling case.
Dying off: Culturally we may be seeing the dying off of the superhero movies that have dominated screens big and small for so long. The Marvels, the latest film from Marvel Studios just came out and it recorded the worst ever North American opening weekend performance of all those films. The Times put it simply: it floundered.
This has all led Disney, the owner of Marvel Studios, to do some backtracking. They are delaying Deadpool 3 and other such films. TV wise, Disney is not doing great either, as their new series, Ahsoka shows.
Will bringing back the X men help? Maybe fantastic four will do it? Or maybe it’s the beginning of the end of the superhero movies, as this piece examines.
On death’s door: well, that would be twitter. I mean it’s been dying all year since Musk took over. But his increasingly mismanagement of the site and his own terrible behavior has led to many companies pulling their advertising dollars from it. Not only that, but increasingly people I used to follow regularly have moved to sites like Threads and Bluesky. I am not sure when it will die off: Musk could keep it on life support for a long time. Dan Sinker’s has a good piece on the site known still as Twitter to read while we sit by its deathbed and wait for the inevitable.
Moving on, office work is also waning. A sign of this is wework going bankrupt. Some of the Toronto locations have shut down. That’s too bad: I am a fan of wework. In better news, in New York some financial district offices have been converted into housing. Here’s to more of that.
Gone but not forgotten: I hadn’t realized that November is JFK season in the US. Or so says Mark Bittman in this piece: JFK season. Perhaps it always will be, until the last of the Baby Boomers in the US has passed away. Meanwhile we get people still second guessing the JFK assassination. And RFK Jr is hanging around the current election, cashing in on his family name while he spouts his toxic views on disease and race.
The pandemic is not dying, but heating up in many places, including Nova Scotia, which reported 35 covid-19 deaths since august. In China there has been an increase in respiratory diseases in children. The Times has more on where we are in this article.
Wars in Ukraine and Israel/Palestine continue to burn on as well. Here’s to better days in both places and soon, though right now soon is no where soon enough. In the mean time I am going to the New York Times for news on the latest developments in Ukraine and Israel/Palestine and I recommend you do so too.
Speaking of endlings, that’s the end of this month’s newsletter. Thanks for reading it. May the next one be merry and bright.