Key facts
- SpaceX is reportedly planning an IPO next week.
- Industry executives warn of oil price spikes within weeks due to risks in the Strait of Hormuz.
- Apollo highlights the cost of uninvested capital in private markets.
- Sales of hybrid cars surged in May as consumers seek better fuel economy.
- Chris Davis, Chairman and Portfolio Manager of Davis Funds, oversees $20 billion in client assets and co-invests $2 billion.
This collection of Friday morning reads covers several significant topics. SpaceX is reportedly preparing for an IPO next week, with speculation that the public may unknowingly acquire a stake. The oil industry, represented by the API and major producers, has warned the Trump administration of imminent price spikes due to risks in the Strait of Hormuz, tanker insurance issues, and refinery maintenance. However, another perspective questions why oil prices are not higher given the geopolitical situation, citing Saudi spare capacity, US shale resilience, and soft demand. The U.S. federal government's capital structure and the safety of its $28 trillion in Treasury debt are examined. Apollo discusses the hidden cost of uninvested capital in private markets and the J-curve effect. A former caterer for Meta's Reality Labs shares insights into the metaverse division. Noah Smith questions the necessity of new SaaS products, while Morningstar analysts suggest the demise of software companies has been overstated. Kevin Kelly's 2008 essay '1,000 True Fans' is revisited as a reality check on the creator economy. The Wall Street Journal reports a surge in hybrid car sales in May, driven by consumer demand for better fuel economy, contrasting with previous industry expectations. An opinion piece from the New York Times analyzes the formula that led to Peter Magyar's success against Viktor Orban in Hungary, emphasizing in-person politics. A profile of Emily Blunt highlights a pivotal phone call in her career. The collection also mentions an upcoming interview with Chris Davis of Davis Funds, who manages $20 billion and co-invests $2 billion.