Apple was able to basically destroy Facebook with a wave of its hand. It's a true ad platform monopoly. But the ghost of Steve Jobs is more charismatic than Zuck, and people give Apple a pass because they think it makes real stuff.

All the antitrust people focused on Facebook when it turned out the real beast was Apple.

cnbc.com/2022/10/26/fac…

There’s nothing like having to wear a face mask again to make you realise quite how much of a pain they were.

New: The Holocaust Museum of LA offered Kanye West a private tour, hoping it would change his views. West turned their invitation down, and said “Planned Parenthood' was his “Holocaust museum.” Now, the LA Holocaust museum is being flooded with antisemitic messages and threats.

Loving that 11% of Teachers thought Nadhim Zahawi stopped being the Ed Secretary yesterday.

He’s not even one of the last three Ed Secs 😂 Teacher Tapp

How does shifting the date of the fiscal event to 17 November help shrink the size of the fiscal hole that will be projected by the Office for Budget Responsibility?

Very quick & rough explainer...

Robert Colvile Around half a billion are estimated to hit windows a year in the US alone. The amount of bird lives that could be saved by switching off the lights on skyscrapers at night during migration would make wind turbines a rounding error.

If you’re worried about birds dying, ban cats.

I can understand the decision on fracking but onshore wind is INCREDIBLY popular, even with Tory/rural voters. Hope it isn’t lost under the new regime.

Conflict in context: “In a typical decade between 1850 to 1940, perhaps 1% of the world’s population saw their rulers change as a result of conquest. In the past 40 years, ex. Ukraine, fewer than 100,000 people (or 0.001%) have experienced the same.”
economist.com/interactive/in…

I don’t think anyone was doubting that planning is a tricky issue for the Conservatives. (But still incredibly depressing.)

Sensible decision to postpone the Chancellor's fiscal statement to the 17 November. Markets have stabilised in recent weeks and while the Bank may have preferred to see OBR forecasts before 2 Nov MPC meeting, the risks of rushing huge fiscal decisions (again) are much greater.

Come back to us when Labour’s had a Jewish PM, woman PM and Asian PM.

Good piece from Jack Doyle dailymail.co.uk/debate/article…

Just overheard someone saying that renters have 'a lot more disposable income' than homeowners because they don't have mortgage payments to make
AAAaaaaaAaaaa

It makes more sense to compare the UK with individual (peer) economies.

Since 2016, UK growth (about 6.2%) has been slower than France (7.6%), but quicker than Germany (5.4%), Italy (4.3%) or Spain (5.8%).

You can verify this here: data.oecd.org (2/2)

#BrexitReality

Not as bad as the cobblers from Carney, but this (from David Smith in the Times) is still misleading...

The EU average is distorted by poorer countries with higher potential growth rates. Even the euro average is misleading, because it includes Ireland's dodgy GDP data... (1/2)

Was struck last week looking up some – not directly comparable and not ideal – US vs UK stats.

It was total annual earnings for the median full-time worker.

US: c$55,000
UK: c$35,000

For every $1 the median US worker earns, their Brit equivalent makes $0.64.

1/n

This is a good thread & worth reading in totality.

I want to pick up on this 1 particular point though as it has near-term higher prices (bullish) implications.🧵

Many are commenting that it is great news that spot gas prices have fallen - and they have - due to 3 factors: