This weekend’s brief is a bit shorter than usual, due to a very busy weekend, however, I hope you enjoy the few interesting stories I’ve highlighted for this brief, while you prepare for the return of NBA season.
Allen Iverson still gets $800k per year from Reebok even though he hasn’t played in the NBA for almost 10 years. Thanks to a lifetime endorsement deal he signed with Reebok in 2001, awarding Iverson $800,000 annually and includes a $32 million trust fund that he can access when he turns 55.
Bloomberg’s guide to investing in cannabis From weed stocks to ETFs, these are the marijuana companies to know as the weed industry has blown up with the similar trajectory as cryptocurrency in 2017, partly due to Canada’s legalization of weed and few states in the US also making it legal.
Sears goes bankruptcy after 125 years This past weekend, Sears unveiled it’s plans to file for chapter 11 bankruptcy protection, which could lead to a liquidation and a final end to the storied chain. Sears, which employs about 70,000 people, is expected to close at least 150 stores immediately after seeking bankruptcy protection.
The demise of Sears: From $60/share to $0.49/share within 2 decades
Resources of the Week
Book: Freshwater by Akwaeke Emezi, explores the surreal experience of having a fractured self. Centers around a young Nigerian woman, Ada, who develops separate selves within her as a result of being born within two different worlds. I will begin reading this once I finish my last book.
Podcast: The economics of apology by Planet Money. A group of economists partnered with Uber to try and figure out the most effective way for a company to apologize to a wronged customer, and the long-term economic effects when a company apologizes the right way or the wrong way.
App/Service: Sue any business from your phone by pressing a button on this handy app. Do Not Payis a free service that helps people win up to $25,000 in small claims court in any state within the US and UK. So far, it has helped its users get back $16 million in disputed parking tickets, Equifax, Banks and more, with a success rate of about 50 percent, and average winnings of about $7,000.
This weekend’s brief was written at Sight Glass Coffee in San Francisco, while listening to a few projects: “SYRE” album by Jaden Smith, and “FEELS” album by Snoh Aalegra. Hope you enjoy the sounds and have a great week ahead!
Thank you for reading through this weekend’s brief! Drop a note to share what articles you found most interesting this week.