News From the Control Tower - 9/23/2020
News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. No Job, Loads of Debt: Covid Upends Middle-Class Family Finances
The pandemic is wreaking havoc in loan-laden white-collar workers’ households; ‘I will never claw my way out of this situation’
2. Coronavirus crisis caused 40% of parents to change their job situation, survey finds
During the pandemic, 40% of working parents have changed their employment situation. An alarming 17% of working moms have had to quit their jobs, compared with 10% of working dads.
3. Exclusive: The Billionaire Who Wanted To Die Broke . . . Is Now Officially Broke
Actually he still has $2 million in the bank, but who’s counting?
4. Brooklyn Museum to Sell 12 Works as Pandemic Changes the Rules
Museums selling their art has long been frowned upon, but recent financial pressures have sent works to the auction block at Christie’s. The proceeds would pay for the care of the collection.
5. Huang’s Law Is the New Moore’s Law, and Explains Why Nvidia Wants Arm - WSJ
The rule that the same dollar buys twice the computing power every 18 months is no longer true, but a new law—which we named for the CEO of Nvidia, the company now most emblematic of commercial AI—is in full effect
Bonus: Black Entrepreneur Gets Saucy, Signs Deals with 30 Grocery Stores
Even in a tough economy, some entrepreneurs are thriving