Wednesday, February 1, 2023

Tom Brady's retirement struggle is too relatable

Plus: Tiny houses for everyone.

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Today's Agenda

Time to Retire

Tom Brady's football career essentially began when he was just four years old, when he attended the 1981 NFC Championship between the San Francisco 49ers and the Dallas Cowboys:

Source: Facebook

Though Brady grew up in an era before colleges recruited players in middle school, football has arguably been his purpose in life for the past 41 years. During that time, he's lost a lot: His family. His crypto investments. His hair, even. When you look at it that way, it's kind of amazing that he's finally retiring "for good" (again) after nine Super Bowl appearances, seven of which he won.

Then again, dedicating our entire existence to our jobs often ties us more closely to them, writes Sarah Green Carmichael. No wonder 42% of Americans over age 50 say they plan to keep working long after retirement age. A lot of that is financially motivated, but workplaces also provide benefits beyond money: routine, purpose and friends. For a talented athlete like Brady, those stakes get inflated. He is the prankster that holds the team together. He is the face that gets put on the bus. He is Disney World's favorite repeat customer! Calling it quits means letting the team down, and resigning himself to the fact that three of his fingers will stay ringless forever:

Source: Instagram

Nothing will compare to the thrill of being a five-time Super Bowl MVP. Then again, knowing when to quit is a good way to regain control of your own life. Read the whole thing.

Little House on the Prairie

If somebody asked you who was the first person in the world to own a tiny house, Marie Antoinette would probably be the last person to cross your mind. And yet her idyllic 255 square-foot boudoir fits the bill to a T, minus the Cinderella landscaping:

The tiny house: a French revolution Source: Chateau De Versailles

Although I'm still convinced America's infatuation with tiny houses is penance for the shameful era of gaudy, dictator-esque McMansions, Conor Sen writes these hygge homes are more than an ode to Scandinavian minimalism. Whether you call them "Granny flats," or ADUs (Accessory Dwelling Unit), miniature dwellings could hold the keys to ending our housing affordability crisis.

Before you say, "I would never put my mother in a glorified toolshed," consider the benefits. She won't be relegated to a nursing home. She'll have direct access to grandchildren. And she can grocery shop right in your fridge if she runs out of eggs or whatever.

The use cases go far beyond grandparents. TikTok is crawling with mini-home fanatics: 18-year-olds are living in the back yard (sometimes with lots of cats). Couples are making absolute bank on Airbnb with their container cabins. And assembly is a breeze. Home Depot can install one in 48 minutes — faster than an episode of your favorite home-reno show on HGTV. 

ADUs also skip over many of the cumbersome hurdles that come with new housing. It's far harder for the local community board to argue that a Barbie-sized cottage in the backward is tarnishing the "neighborhood character." Perhaps that's enough to turn NIMBYs into OBESITYs (Ok, But Everything Stays Inside The Yard).

Rate Hike Haikus

For those who celebrate, happy FOMC Day. Jay Powell's Fed slowed its roll on rate hikes, lifting its target rate by a modest 25 basis points. Here's a little roundup of our central-bank opinions, in haiku form:

Fed pivot is dead!
But Fed pirouette keeps the
mystery alive…

— Robert Burgess

Powell's acting chops
matter far more than rate hikes.
The market's watching.

John Authers

Dear FOMC,
You'll regret not going for
50 basis points.

Bloomberg's editorial board

Slower inflation
sounds great. But for the Fed, it
adds more to the plate.

Tyler Cowen

Telltale Charts

China expanded its renewable energy capacity by a mind-boggling amount last year, equivalent to all the solar panels ever installed in France, Germany, the Netherlands and the UK, David Fickling writes. It feels impressive, but there's a catch: The quality of its power is sketchy at best. China's Shein-ification of solar is a wasted opportunity that has made the country a laggard on the energy capacity leaderboard:

New York is binging on Indian gasoline ahead of a potential gas shortage this summer, Julian Lee writes. Sounds fine, until you realize Narendra Modi's oil barons are doing business with Vladimir Putin. Beyond awkward! Our yellow cabs are literally running on the power source bankrolling Russia's war in Ukraine:

Avocado heathens and football people, rejoice! Guac isn't looking so extra these days, according to Bloomberg reporter Kevin Simauchi. Mexican avocado prices are down 40% from last year, and chicken-wing prices have been trimmed by 22%. Time to start mentally preparing yourself for a game day food coma:

Further Reading

Brazil's president really needs a fact-checker— Andreas Kluth

ChatGPT is not a calculator for English class. — Parmy Olson

We love to hate on short-sellers, but Wall Street would be lost without them. — Marc Rubinstein

President Joe Biden is escalating the Ukraine war to end it. — Hal Brands

Cutting China out of the chip industry will have unintended consequences for the US. — Anjani Trivedi

Republicans are still weirdly enamored by Donald Trump's failed border wall. — Francis Wilkinson

Minneapolis broke down after George Floyd's death. Memphis can do better— Adam Minter

ICYMI

Beyonce is back.

Nikki Haley is running.

Biden's beach house got searched.

Match broke up with some of its employees.

Gawker 2.0 got sent to the graveyard

Kickers

You might be drinking bleach.

This Italian-beef sandwich is better than The Bear.

Monet was painting air pollution.  (h/t Ellen Kominers)

A radioactive device was found in the Australian desert.

Man wanted for murder is still using dating apps. (h/t Scott Duke Kominers)

A Porsche for $18,000? It's too good to be true.

Notes:  Please send Italian-beef sandwiches and feedback to Jessica Karl at jkarl9@bloomberg.net.

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