The article further highlights the impact of fixed-rate mortgages on homeowners' ability to sell, with Denmark's system allowing sellers to profit when trading low mortgage rates for higher ones. It also includes a quote from a business owner refusing to pay for her daughter's college tuition. Other top reads include the advent of "IntelliPhones", the experiences of laid-off TikTokers, the pay scale of AI workers in hedge funds and prop-trading firms, and the launch of a smartwatch for kids by Google.
Key takeaways:
- Pet owners spent an estimated $3.9 billion on pet insurance in 2023.
- Amazon is struggling to compete with Nvidia's dominance over AI chips, putting millions of dollars in cloud revenue at risk.
- Seven heavyweight investors, including Rob Arnott and Bob Elliott, shared the best trades of their careers and the lessons they learned from those decisions.
- In Denmark, sellers can profit when they trade in their low mortgage rates for more expensive ones, a system that America could learn from to prevent the housing market from locking up.