Situational awareness: I’m broadly suspicious of corporate “net-zero” pledges because they all rely to some degree on dubious offsets. The more genuine and heartfelt the pledge is, the lower that reliance will be, and the more effective it’s likely to be. If ExxonMobil comes out with one, I'll give it very little weight absent extremely clear signs of massive change.
- In this week's newsletter: The post-pandemic economy; the uselessness of economic forecasts; the rise of BNPL; how banks are failing at anti-racism; Robinhood goes meme; and much more. All in 1,689 words, a 6.5-minute read.