The unicorn massacre unfolding today is exactly the opposite of what happened in 2000.
Derek ThompsonThe most common reaction to these techs unicorns losing billions of dollars is "omg it's the dot-com bubble all over again!"
But this is more like the opposite.
The 1999 bubble was a public-investor mania. In 2019, public markets are the sober ones.
It wasn’t the light bulb or the phonograph or the moving picture—or anything tangible. It was a way of thinking about technology.
Derek ThompsonDon't let ppl tell you "things are changing faster than ever."
In 1880, NYC had no subway, cars, or electricity. Its tallest building was a church.
By 1915, NYC had a subway system, 1000s of cars, lit streets, and the world’s tallest skyscrapers.
Some academics are too eager to please Beijing or too scared of offending the country. "You don't want to go out on a limb," said one professor.
Derek ThompsonAirline flying to Taiwan? Don't you dare refer to it as an independent country online. Pay the values tariff.
Film studio? Change that scene and pay the values tariff.
Academic with Chinese funding? Shut up about humans rights and pay the values tariff.
Derek ThompsonIdentifying a positive datapoint for low-wage earnings growth is not a Mission Accomplishment banner.
It's more like a positive feedback mechanism: Keep up the growth! Keep down the rates! The ppl who need wage growth the most are finally getting it!
A new paper provides stark evidence that Harvard gives preferential treatment to affluent white applicants through legacy preferences and sports recruitment.
Derek ThompsonI wrote about how this paper shows that Harvard's athletic program—like so many college sports recruitment programs—serves a very specific, and extremely dubious, goal:
Bring in rich kids, mostly white.
Derek ThompsonI wrote about Harvard admissions and the dark underbelly of recruiting for Rich-Kid Sports—a practice which allows both elite colleges and elite companies to screen for privilege
Derek ThompsonSo that's the story.
Elite status is passed on, generation to generation, through the maintenance of a secret social language: the code of fancy sports.
Much of the wreckage Trump has caused is simply the expression of his willingness to pursue long-standing Republican policies while coarsening the polarizing politics practiced by the George W. Bush White House.
Derek ThompsonThis Sean Wilentz essay in @nybooks is a fabulous history of Trump as the culmination of 70 years of Republican politics, rather than some wild departure from the party’s trajectory.
Why the consumer-tech revolution can’t seem to survive public scrutiny
Derek ThompsonIf you wake up on a Casper mattress, hail Lyft to get to your desk at WeWork, use DoorDash to order lunch, and get an Uber home, you've spent the day interacting with companies that will collectively lose nearly $13 billion this year.
Millennial movers have hastened the growth of left-leaning metros in southern red states, like Texas, Arizona, and Georgia. It could be the biggest political story of the 2020s.
Derek ThompsonI wrote about how Millennial migration is accelerating what might be the most important demographic development in 2020s politics:
The unbelievably fast growth of liberal metros in the south.
Derek Thompson@GrahamDavidA In the biggest picture, a blue flood in the sunbelt metros could trigger a once-in-a-half-century political realignment; loosening Republican's electoral college advantage, and ultimately forcing the GOP to fight for immigrant, minority, and urban votes.
Why did a once-rural party became synonymous with density?
Derek Thompson@Noahpinion There’s a fabulous new book Why Cities Lose by Jonathan Rodden on the urban-rural phenomenon, which is as critical as you say.
Here’s my essay on his book and the 150 year history of how Dems became synonymous with density.