MMT: What Is It and Why You Should Care: The Modern Monetary Theory (MMT), a little-known economic policy, is gaining significant traction thanks to far-left politicians like Alexandria Ocasio-Cortez and Bernie Sanders. In short, the MMT claims that governments don’t need to worry about debt because they print their own money, which can be used to fund different initiatives, according to CNBC.
What about inflation, one might ask? MMT says we can use taxes as a method to recall money from the economy before inflation occurs. The theory goes so far as to say a government surplus is more dangerous than a deficit and programs that aim to “balance the budget” only hurt a country’s economic prosperity.
Big News for Robinhood’s First Acquisition: Robinhood, a fee-free stock trading start-up, made its first acquisition and it’s not what one might expect. The fintech purchased MarketSnacks, a financial newsletter geared towards Millennials, according to Fortune.com. The surprising investment isn’t as strange as it seems. Robinhood has been working towards becoming a one-stop-shop for young people’s investment needs and this marks a significant step towards the goal.
VC Firms Take Center Stage: Venture capitalist firms that have backed the likes of Postmates, Pinterest, AirBnB and other large and lucrative companies have remained mostly in the background. Now, many of these “unicorns” are set to go public and the forces behind their finances are ready to step into the limelight, writes the New York Times. This could mean big business for PR firms and a surge of new jobs in marketing and media relations at VC firms.
Venezuela’s Collapsing Economy Causes Dip in Violent Crime: Venezuela’s economic crisis has had an unexpected and surprisingly positive effect on violent crime in the country, according to The Wall Street Journal. Gangsters’ once-lucrative business of kidnapping and armed robberies is losing its appeal as area’s devastation continues to grow. Police in Caracas used to document at least two kidnappings a day, which has dropped significantly in the last year. Just two kidnappings have been recorded since the beginning of 2018, the latest one resulting in a ransom payment of $400–”a far cry from the tens of thousands of dollars that professional gangs used to demand.”
The Dying Age of Authenticity: Social media doesn’t need to exist for CEOs to be confronted with the decision to comment on issues outside their business–but it certainly provides them with far more opportunities. With those opportunities comes with the never-ending decision as to whether or not to seize them; and more times than not, CEOs are expected to for the sake of “authenticity.” But Andrew Hill of The FT argues that those days could soon be behind us.