June Reading Links

Here are some of the writings that caught our attention this past month:

1. Ben Carlson notes the incredible pace of AI adoption, as evidenced by ChatGPT’s explosive growth:
   
2. Barry Ritholtz observes that by heavy margins Britons now regret Brexit:
   
3. Rachel Wharton discusses at length the reasons why appliances don’t seem to last as long as they used to. Like many legends, the reputation of the 30-year-old refrigerator is somewhat mythical, as older appliances probably didn’t last as long as nostalgia would indicate:
   
Most appliances have an average lifespan of 10-15 years, and that number hasn’t changed much over the past decade. But what’s holding appliances back in terms of their longevity? Wharton argues that regulatory requirements, technological advancements, and price competition have all led to appliances that are constantly changing and becoming more complex, and are increasingly made with parts that, when broken, are meant to be thrown away rather than repaired.

Wharton suggests that if you want an appliance to last, either go low or go high:
More basic, cheaper appliances have fewer bells and whistles that can break down, and tend to have generic parts that can be replaced relatively easily. High-end appliances are built with better quality materials, and come with better warranties and repairability. Mid-level models are more likely to have many features involving multiple circuit boards, but break down more easily and may be difficult to repair (and given how quickly models change these days, it may be difficult to find a technician who can do repairs).

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This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument or investment strategy. This material has been prepared for informational purposes only, and is not intended to be or interpreted as a recommendation. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice.