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P.S. You Should Know... | Issue #268

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May 15 · Issue #268 · View online
P.S. You Should Know...
👋 Welcome back to P.S. You Should Know… probably the best newsletter published on Sundays between 6-7am CST, and definitely the best one published by me. Now in its sixth year!

my story 🚀
My first recession. After the last big crisis in ‘08, it took me many years to recover a positive outlook. I was years too late. I like to think of myself as an opportunistic buyer who knows when he’s looking at a good deal. But I guess I wasn’t. I waited for the other shoe to drop for too long. I often wonder why. Possibly because I found myself surrounded by gloomy news. The construction industry I worked in was hit hard, so every day I was surrounded by the worst of it. The media I consumed amplified the scariest of the economic news. I was young and impressionable, and it was my first recession.
Their first recession. I often consider that the next recession will be the first one for so many among us. It’s been a long while since the recovery from the housing crash. Many business leaders of my generation have never experienced a recession. Some are certainly as overconfident as I was once was about my readiness to buy at a good price. I underweighted the impact of gloomy times.
Prepare for gloomy times. You might have noticed that market prices have come down across so many types of assets. I do not assume that the worst of it is over. Not only can the numbers all go down further, but the conversation can also turn much more negative. On March 15, 2020 I wrote about the then-novel coronavirus taking over the mindshare of the world.
During the 2008 economic crisis it was hard to stay cool-headed amidst the omnipresent doom and gloom chatter. Today I am slightly better educated about my human psychology. I know that I will, by default, overweight the importance of what I hear most frequently. I hope to do a better job of clear, independent thinking this time around. 
“If you’re going through hell, keep going.” Now feels like a great time to consider the quote from Winston Churchill that reminds us to maintain perspective and forward progress.
fun facts 🙌
Mechanical watch. This is an absolutely incredible interactive demonstration of the workings of a mechanical watch — the kind that runs without batteries or electronics. It also serves as a useful reminder that humans are amazing. | learn more
Learning about Autoclaves. “An autoclave is a machine used to carry out industrial and scientific processes requiring elevated temperature and pressure in relation to ambient pressure and/or temperature.” | learn more
Ancient Egyptian tablet records people’s excuses for missing work. They include a scorpion bite, illnesses, and “suffering with his eye.” | learn more
Visualizing everyone that has ever lived. Click for infographic. | learn more
oh, chicago 🏆
Chicago’s getting a casino. I’m not quite sure what took so long. “The casino is expected to be a financial boon for the city, providing millions that officials say they need to fulfill pension obligations and prevent tax increases, among other things.” | learn more
Mayoral candidate hasn’t made a mortgage payment in nearly 10 years. “For nearly a decade, mayoral candidate Ald. Raymond Lopez has failed to make mortgage payments on a property on the city’s Southwest Side, totaling almost $42,000, according to a lawsuit filed earlier this year.” | learn more
Aldermen make a back-room deal to divvy up wards by ethnicity. “The new map includes 16 majority-Black wards plus the “Black influence” 27th Ward, 14 majority-Latino wards and one majority-Asian American ward and has secured more than the 41 votes needed to avoid a referendum, according to officials.” Is this really what the people want? | learn more
tech, startups, internet ⚡
Product-market fit in different capital environments. “Today, a story is sufficient to raise a 2008-sized Series B.” This is turning back a bit, but the Tomasz Tunguz doesn’t, “expect the ramen and ping-pong days of 2008 to return anytime soon.” | learn more
better doing 🎯
IBM’s asshole test. “Some years back I applied to join IBM’s grad scheme, there was a peculiar stage to the process I’ve not seen elsewhere.” | learn more
to your health ⚕
What are health care sharing ministries? “As healthcare costs rise, health care sharing ministries (HCSMs) are getting a lot of attention—not all of it good—as an alternative to traditional health insurance. Open to people who share religious or ethical beliefs, they aren’t insurance companies. Rather, they seek to help members share and reduce healthcare costs.” | learn more
retail therapy 💸
What’s going on in the Amazon third-party seller ecosystem? A post co-authored by Ali Hamed and Meghan Hillery highlights the dynamics at play in the world of marketplace sellers, especially among the aggregators who have attracted so much capital over the past couple years. “The TL;DR: 2022 will be the year separating the winners from the losers.” | learn more
under the microscope 🔬
Insulin nasal spray may slow age-related cognitive decline. “After 24 weeks of intranasal insulin use, both diabetics and non-diabetics showed improvements on a number of cognitive measures.” | learn more
Help reproduce a study about randomness. “We found this cool study about randomness that we wanted to show you. But…there is something we saw in the data that made us question the results. Can you help us reproduce the study and figure things out?” | learn more
thoughts of food 🍔
Welcome to the dinner of tomorrow. “What dinner will look like in the next 100 years, according to scientists (and sci-fi authors).” | learn more
big ideas 📚
When to throw your plastic straw into the garbage. “I’m a civil engineer. Landfills get a bad rap because they seem horrible, but modern landfill technology is really pretty amazing. … And anything that goes into the landfill does not get into the ocean.” | learn more
Dude, where’s my fuel? Prometheus Fuels Founder and CEO: “But as often happens with breakthroughs of this magnitude, our process has … raised a lot of questions: How is it possible that your e-fuels are so much cheaper than everyone else’s? And if you can make these fuels, then where are they? … I’m here to answer these questions.” | learn more
on the blockchain ⛓
Scott Galloway does not believe in Web3. “The advertised decentralization of power out of the hands of a few has, in fact, been a re-centralization of power into the hands of fewer.” | learn more
Matt Damon’s crypto commercial. Sharing this for entertainment not analysis. “Here’s how much money you would’ve lost if you bought crypto during Matt Damon’s ‘Fortune Favors the Brave’ commercial.” | learn more
calls to action 👇
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