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Joe Weisenthal Profile picture
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9 Dec, 10 tweets, 4 min read
NEW ODD LOTS

Why we're experiencing a nationwide schoolbus driver shortage.

@tracyalloway and I talked to Corey Muirhead, EVP at the largest schoolbus company in NYC, to talk about how the pandemic has made retaining and hiring drivers so much harder. bloomberg.com/news/articles/…
@tracyalloway There are numerous factors driving the shortage.

-- Many drivers are quasi-retirees, and not a lot of people are unretiring these days.

-- While schools shut down, demand for truck drivers soared, so people with CDLs just switched industries.
Also like every other industry, there's an Amazon effect, as @tracyalloway wrote about
@tracyalloway Also drug testing. Obviously with children on board, there's an extremely high emphasis on safety, which isn't as much the case for other jobs that otherwise require a similar skillset.
@tracyalloway Will post the transcript later.

In the meantime, can listen to it anywhere, like

Apple: podcasts.apple.com/us/podcast/thi…

Spotify: open.spotify.com/episode/1DfnCK…

Plus anywhere else
And right on cue
More: abc6.com/strike-authori… HT: @_andyboardman
@SamuelWBell Is this district near you?
Oof
Second day in row of some classes canceled in a school district where there’s a bus driver shortage wxxinews.org/local-news/202…

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More from @TheStalwart

Joe Weisenthal Profile picture
30 Nov
IT'S TIME WE HAD A BIG, SURVEY OF WORKERS

In today's newsletter, I wrote about something that's bothered me for a long time -- we don't have a big, monthly survey that asks workers and the non-employed about the job market. It's a great time to fix this.

bloomberg.com/account/newsle…
We have all these questions about the labor market, and various vague theories for why people aren't taking up job openings faster.

And yet instead of asking the public about this, we ask the public whether now is a good time to buy a vacuum cleaner or a dishwasher.
Meanwhile, we have these business surveys, which can be interesting and useful. But the respondents have been complaining about tight labor markets and labor shortages for almost a decade now, which shows that we need to take these with a grain of salt.
Read 5 tweets
Joe Weisenthal Profile picture
24 Nov
10 THINGS YOU CAN SAY ABOUT WEB 3.0 TO BULLSHIT YOUR WAY THROUGH THANKSGIVING DINNER

For today's @Markets newsletter, I've done a service for you, which I will now post as a thread.

Get the newsletter here:

bloomberg.com/account/newsle…
@markets 1/ "The internet is at a fork in the road: Do we want a future on Mark Zuckerberg's servers, or do we want to build on top of networks with data we own and identities that we control? Because that is precisely what's at stake here."
@markets 2/ "Imagine never having to come up with a username or password ever again. Your crypto wallet *is* your sign-in."
Read 14 tweets
Joe Weisenthal Profile picture
21 Nov
Just from the perspective of a crypto fund manager, it seems really dangerous to bet too heavily on the large caps. For a long term investor, blue chips might make a lot sense, but in any given year within a bull market it seems like a sure way to underperform and not attract AUM
2021. Great for year for crypto. Anyone with a heavy ETH bet did fine. But also got crushed by funds betting on higher beta plays, alt L-1s. Etc. Probably similar dynamics with Bitcoin in 2017
To some extent this might be true for stocks. But I’m not sure if the dynamics are extreme. For basically any year in the last decade, an all FANG+ approach has been a true winner. Yes always some small cos. that outperform.
Read 4 tweets
Joe Weisenthal Profile picture
16 Nov
TRANSCRIPT:

The full text of full conversation with @crmiller1 about the Dutch lithography giant $ASML is out.

I learned a ton from this one, and I'm really glad to have re-read the text (I don't always do).

Gonna thread a few things that jumped out:
bloomberg.com/news/articles/…
@crmiller1 So the first thing is definitely this answer from Chris to @tracyalloway about ASML's competitive edge. The story is really their incredible supply chain, and being able to manage 4000 suppliers.

bloomberg.com/news/articles/…
@crmiller1 @tracyalloway Right now, ASML's most advanced EUV lithography machines are not exported to China, and for the time being (and likely the next several years) this represents a hard constraint on Beijing's efforts at building up its own domestic chip industry.
Read 5 tweets
Joe Weisenthal Profile picture
15 Nov
THE ASML ODD LOTS

After teasing it as part of our chip series for months, @tracyalloway and I finally did an episode on $ASML, the Dutch powerhouse in advanced lithography

Great chat with our guest @crmiller1, who is writing a book on the company bloomberg.com/news/articles/…
@tracyalloway @crmiller1 As our guest notes, $ASML has zero competition at its level of its sophistication. None. Nobody else can achieve the scale it can, with its reliability. So if you want to make the most cutting edge chips, you are an ASML customer.
@tracyalloway @crmiller1 As I wrote about on Friday, what's impossible for competitors to replicate is not its technological knowledge per se, but its supply chain mastery, dealing with at least 4000 distinct independent suppliers
Read 4 tweets
Joe Weisenthal Profile picture
15 Nov
WHY CONSUMER SENTIMENT IS CRASHING WHILE THE JOB AND STOCK MARKET ARE BOOMING

In today's @markets newsletter I wrote about this seeming disconnect.

IMO there's one simple reason for it and one interesting reason for it.

Sub' here:

bloomberg.com/account/newsle…
@markets Basically I think it's a combo of

1) Inflation

2) Extreme partisan polarization on all things economy

2a) The surging quits rate affecting Republican small business owners specifically.
The big question is now whether these sentiment readings actually translate into a slower economy. It's one thing to be upset. It's another thing to pull back on investment and consumption. bloomberg.com/news/articles/…
Read 4 tweets

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