⚡ICYMI

✅ LeBron James is taking his talents to pickleball

The basketball legend’s investment firm, LRMR Ventures, has joined an ownership group buying a team in Major League Pickleball, as the league expands to 16 teams next year. James’ group is joined by other NBA stars Draymond Green and Kevin Love in the purchase. Pickleball, a sport similar to tennis, is the fastest growing sport in the U.S., according to MLP founder Steve Kuhn, who hopes the sport will reach 40 million players by 2030.

✅ Big Mac shows pain as the dollar surges

When the Fed raises U.S. rates, the value of the dollar goes up, and the value of other currencies tend to go down. This means that if you buy American goods overseas, it costs more. Since 1986 The Economist has used the Big Mac index as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalize the prices of identical goods and services (in this case, a burger) in any two countries. This is what economists refer to as burgernomics! For now, U.S. buying power “remains relatively insulated thanks to the dollar’s unique role as the world’s reserve currency,” writes Bloomberg.

✅ New York City’s empty offices reveal a global property dilemma

Empty offices are affecting local businesses that depend on daytime traffic and lowering building values around the world. It’s a situation playing out around the globe as employers adapt to flexible work after the Covid-19 pandemic and rethink how much space they need. A study this year by professors at Columbia University and New York University estimated that lower tenant demand because of remote work may cut 28%, or $456 billion, off the value of offices across the US. About 10% of that would be in New York City alone.

✅ Mexican abuelita has one of the hottest cooking channels on Youtube called De Mi Rancho a tu Cocina (From My Ranch to your Kitchen)

Gordon Ramsay and Martha Stewart are being outperformed by Doña Angela, a grandma from rural Mexico and her daughter’s phone camera. Doña Angela isn’t a famous actress nor a recognized chef with a Michelin star. She’s a traditional abuelita from rural Mexico who decided to share her culture through food. What’s most mind-blowing: her videos get more views than some of the most recognized cooking figures, including Martha Stewart and Gordon Ramsay. While Ramsay has 5x the number of subscribers, abuelita outperforms him in views.

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