Welcome back! Dan DeFrancesco in NYC. The World Cup officially kicked off yesterday, but things really get rolling today.
(Reminder: USA plays today at 2 p.m. EST vs Wales, Friday at 2 p.m. EST vs England, and 11/29 at 2 p.m. EST vs Iran.)
A few predictions*:
-France doesn’t make it past the group stage (I actually liked this pick before the Karim Benzema injury, but I’ll stick with it.)
-Brazil, Argentina, England, and Belgium make it to the semis.
-Brazil over England in the finals.
-Neymar wins the golden boot.
*Following the traditional 2-and-20 model, I’ll expect a 20% kickback on any profits from bets placed on these by readers. Thank you very much.
Anyway, as for the stories, we’ve got more bad news for ECM bankers, an interview with Coatue’s top man, and why Florida isn’t turning out to be the tax haven some thought.
But first, I’m just an analog man in a digital world.
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“The limits of my language mean the limits of my world.”
The quote, from the renowned Austrian philosopher Ludwig Wittgenstein, describes how one can only speak on things they are able to discuss within the constructs of language.
The quote, from Wittgenstein’s “Tractatus Logico-Philosophicus,” is 100-years-old, but it’s applicable now more than ever, albeit with a slight twist.
The limits in finance are no longer the spoken language, but programmed ones.
Insider’s Bianca Chan and Carter Johnson dug into the most sought-after coding languages across Wall Street. Speaking to recruiters, tech executives, and other industry insiders, Bianca and Carter identified 8 different languages applicable at a variety of disciplines on Wall Street, from fintechs to wealth management to high-frequency trading.
Much like Wittgenstein’s quote, what stood out to me was the longevity of some of the languages. C++, which was created in 1983, is still a mainstay despite being older than a good chunk of the people using it on Wall Street (and the person writing this newsletter).
There is a general assumption about tech that things move very fast, and it’s tough to stay up to speed. While that’s certainly true, plenty of programming languages have sticking power.
Perhaps the best example is COBOL, a 63-year-old programming language still being used today. The coding language, which is found in traditional mainframe computers, was thrust into the spotlight early in the Covid pandemic as states’ unemployment systems were overwhelmed. That’s not a ringing endorsement of COBOL, but it does show how long these languages last.
To be clear: Do no go out and learn COBOL. That would not be a sound career decision.
But what would be a smart decision is reading this story mapping out the top programming languages for a variety of roles and industries across Wall Street.
Click here to learn more about the coding languages you should brush up on to get a gig in finance.
In other news:
2. Florida’s newest residents are upset about a surge in property taxes. While many moved to the Sunshine State to save on taxes, new homebuyers are having to pay much higher property taxes. Read more about what the issue is.
3. Good news for soon-to-be parents at JPMorgan. The bank is extending its policy of 16 weeks paid leave to both parents, as opposed to just the primary caregiver. Here’s what spurred the change.
4. How to rise the ranks in consulting. A former EY senior manager shared three tips to keep in mind if you want to set yourself up for a promotion at a consulting firm. Here’s what she recommends.
5. ECM bankers can’t catch a break. Komodo Health, a health-data startup, is scrapping its plans to go public after hiring banks earlier this year. This is what we know so far.
6. Inside Bob Iger’s stunning return to Disney. The decision to reinstate Iger as CEO brings an end to the rocky tenure of his successor, Bob Chapek. The news shocked Hollywood Sunday evening, but two company insiders say the plan came together in just a few days.
7. We had lawyers break down that FTX bankruptcy filing. We highlighted the juicy bits, and then asked the experts to analyze it. In short, it’s really bad.
8. A conversation with Philippe Laffont. The founder of Coatue Management touches on a variety of topics, including plans to get into private lending, in this interview with the Financial Times.
9. A regulator had some pointed comments for crypto. SEC Commissioner Jaime Lizárraga disagreed that there isn’t enough guidance for crypto companies at the federal level, saying it just “may not be what many market participants want to hear.” Read more about his recent comments.
10. You either die a hero or live long enough to be the villain. Manchester United is suing Cristiano Ronaldo, who once starred for the club, due to scathing comments made by the Portuguese forward in an interview with Piers Morgan. Here’s why Manchester’s second-best football club is so upset.
Keep updated with the latest business news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief. Listen here.
Edited by Jeffrey Cane (tweet @jeffrey_cane) in New York and Hallam Bullock (tweet @hallam_bullock) in London.