Thursday links: an adversarial relationship

Quote of the Day "Prediction markets can be useful for those who want to know the future, but their utility recruits participants into a relationship with the news cycle that is adversarial, and even misanthropic." (Derel Thompson) Markets - A look at weakness in the Mag 7 stocks. (trendlabs.com) - Why prices never land on fair value. (mrzepczynski.blogspot.com) Startups - A look at the potential valuation of SpaceX at IPO. (sherwood.news) - What happens when a CEF, full of startups, trades at a big premium to NAV? (morningstar.com) OpenAI - OpenAI's business strategy has been 'haphazard' at best. (theatlantic.com) - OpenAI is buliding “an autonomous AI research intern.” (technologyreview.com) - Why Sora failed. (spyglass.org) Gambling - The speed with which gambling has ripped through society is shocking. (derekthompson.org) - Gambling thrives on the fear of being left behind. (kyla.substack.com) - How gambling shows up in worse credit outcomes. (libertystreeteconomics.newyorkfed.org) - A firsthand account of someone who left the gambling industry. (defector.com) Media - Netflix ($NFLX) is raising subscription prices (again). (variety.com) - Some veteran podcasters are calling it quits. (wsj.com) - The bloom is off the reality TV rose. (nytimes.com) Economy - Jobless claims are still not on the rise. (bonddad.blogspot.com) - War isn't good for economic uncertainty. (econbrowser.com) Earlier on Abnormal Returns - Longform links: a policeman on the take. (abnormalreturns.com) - What you missed in our Wednesday linkfest. (abnormalreturns.com) - Personal finance links: inside the slowdown. (abnormalreturns.com) - Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)