Hello, I’m Matt Turner, Business Editor at Insider. Welcome to Insider Weekly, a roundup of some of our best stories.
On today’s agenda:
More: On Friday, Elon Musk’s lawyers notified the SEC that the agreement to acquire Twitter was canceled – read the full letter here. Twitter, in turn, said it would sue Musk to force him to buy it for $44 billion. Our 10 things about Wall Street newsletter will break down the latest news tomorrow morning. Sign up here to get correspondent Aaron Weinman’s analysis delivered to your inbox.
But for today: We start with some book recommendations for you.
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Your Summer Reading List from Insider Editors:
As your friends’ social media feeds and your colleagues’ away messages on
, we are in the middle of the holiday period. So if you’re looking for a good read while you’re grabbing that much-needed PTO — or just winding down at the end of the day — Insider’s top editors have a few recommendations.
Nich Carlson, Global Editor:
- I read “The Immortal King Rao”, a great book of speculative science fiction. He asks what if, instead of having a government, we gave control of the world to some Steve Jobs or Sundar Pichai guy, and had an algorithm make our most important decisions? It tells a story of globalization, the total meshing of our brains with the Internet, and what we have gained and what we have lost. It’s a story ripper.
Julie Zeveloff West, editor of Life:
- I’m a big fan of word games, and AJ Jacobs’ new book, “The Puzzler,” really hit the mark for summer reading. There he discovers the history and appeal of puzzle types, from treasure hunts to The New York Times’ Spelling Bee. There’s even a puzzle built into the book, and no, I haven’t solved it (yet).
Jennifer Cunningham, News Editor:
- I’m reading “Fall” by John Preston. I’m a big fan of historical non-fiction – “Fall”, a comprehensive biography of Ghislaine Maxwell’s father, helped me understand how he molded her into the woman she became.
- I also read Carla L. Peterson’s “Black Gotham,” which traces the rise of the small but powerful black middle class and elite in New York City from the early 1800s. After watching “The Gilded Age” on HBO, I was fascinated by the history of this community which I had never heard of. I just needed to know more!
And a rec from me (Matt Turner):
- I read “Dead in the Water”, a real page-turner by Matthew Campbell and Kit Chellel. (Kit is a former colleague in our day as reporters in London.) Their book focuses on oilman Brillante Virtuoso and, over years of reporting, stitches together a story involving global trade, money and murder.
Now let’s move on to this week’s top stories.
Meet Amazon’s new retail boss
Following Dave Clark’s departure last month, Doug Herrington – his close opposite – became Amazon’s top retail executive.
Insiders described Herrington as a leader with creative ideas, but said few of his ideas came to fruition. They said he was known for his soft-spoken and gentle manner – and his laid-back demeanor might be just what CEO Andy Jassy thinks the company needs.
Read our full profile on Herrington here.
Elon Musk had twins with one of his best executives
Elon Musk now has nine known children, having quietly had twins with one of his top Neuralink executives, Shivon Zilis. Here’s what we know about her.
The births, which have been revealed in court documents, took place weeks before Musk and Claire Boucher, who plays Grimes, had their second child in December.
Here is the full report.
Major streaming services cut comedy
are producing fewer comedy shows in favor of “heavily serialized” content with cliffhangers, a creator of a 2019 comedy show told Insider.
Comedy writers say Netflix’s model of releasing an entire season at a time doesn’t leave room for half-hour sitcoms.
Learn more about the big blow to comedy.
The big losers of the market crash
If 2021 was the bright, sunny day for the markets, then 2022 is the cold, dark night. Senior correspondent Linette Lopez writes that the bubble has burst, leaving a trail of losses.
From retail investors who jumped on trends to hedge fund managers who should be better informed, Lopez finds that the biggest losers from the market meltdown have one thing in common: arrogance.
Here are the biggest losers in the markets right now.
More of this week’s best reads:
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Organized by Matt Turner. Edited by Jordan Parker Erb, Hallam Bullock and Lisa Ryan. Sign up for more Insider newsletters here.