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I focus on relevant business & finance articles while frequently drifting to topics such as sports, art, technology and more! MMR was created because I'm passionate about sharing what I find interesting.

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The defense industry and silicon valley have had a long history in tandem – there is even a lot of evidence that defense spawned the technology industry there. Whatever the case, an interesting parallel that popped into my head while reading this article. That thought was about the creation of the OSS (Office of Strategic Services) during WWII that preceded the CIA. While traditionally technologies were developed for military use first, could there be a new era of consumer-/industrial-driven advances being applied to warfare? Rather than the target customer for technology companies, the DoD is now more of a(n) sub-sector/afterthought due to companies focusing on problems that affect the mass population – and the military is tough to do business with for many reasons. While DARPA focuses on challenges that are 20-30 years out, the new task is to find challenges that need fixing which are much more immediate.

This is obviously a super-long read but I find it fascinating. We’re living through a truly unique time in the history of finance with all the extraordinary experimentation going on via central banking. There is no good way to sum up the essay but I think that this quote is pretty on-the-money: “History shows us that economic recovery from a depression has never been successfully engineered without a major debt reduction, default, hyperinflation, political revolution, or world war.” Now that is a pretty wide statement of possibilities, but I think that currently the mentality of the market is that – at least for the Fed – central banks have “beaten” the recession. The essay really is about volatility rallying for any of the stated reasons. I think it’s a pretty good bet vol is relatively cheap compared to all the “shadow convexity” that exists with these multi-dimensional risks playing out in real-time.

I’m a huge fan of Charlie Munger and the “mental-model” school of thinking. That’s why when I read this article it was just another confirmation that if you can find certain patterns in nature, they can be applied across a variety of disciplines. Here’s a good quote: “...the same basic species-area curve was found regardless of the species or habitat. To put it mathematically, the curve followed a power law, in which the change in species number increased proportionally to the square root of the square root of the area. ... Power laws are common in science, and are the defining feature of universality in physics.”

Financial Times - Russia’s Arctic Obsession 16min

This is Tiksi, a decaying town in the Russian Arctic. Here, more than 4,000 kilometres from Moscow on the coast of the Laptev Sea, 4,550 people inhabit a wasteland whipped by blizzards and wrapped in polar night for half of the year. Surrounded by thousands of kilometres of permafrost, the town has no outside land connection. Its main lifeline is an airport manned by a military unit, a relic of Soviet times, when the country’s Arctic territory was dotted with military bases. ... Global warming, which is causing Arctic sea ice to melt at an unprecedented pace, is watched with alarm in other parts of the world. But in Russia, the rising temperatures are fuelling expectations that the waters along its northern coast, long a frozen frontier, could once again become a vibrant shipping line, rivalling some of the world’s most important trading routes. ... In theory, the NSR could compete with routes that have dominated global maritime transport for decades. Calculated between the ports of Yokohama and Hamburg, the 7,200 nautical miles shipping distance between Asia and Europe using the NSR is 37 per cent shorter than the southern route via the Suez Canal. ... Total cargo transport volumes plummeted from a peak of 6.58 million tonnes in 1987 to just 1.46 million tonnes in 1998. ... total cargo volumes recovered to 5.15 million tonnes last year, almost back to the level of 1990. ... The idea of mastering nature is very much part of Russian identity, as is the myth of conquering the Arctic, despite the decline of Moscow’s footprint in the far north over the past 25 years. ... Since there is still a lot of ice on the northern oceans, this makes passages risky and drives up insurance premiums. Only ships with reinforced hulls can use the NSR with relatively few restrictions and even for them passage times remain unpredictable. The waters off Russia’s coast are also far shallower than those on the southern route, meaning that the world’s largest, most cost-efficient container ships can’t be used.

Fast Company - Special Report: Chipotle Eats Itself 45min

For years, enlightened restaurant-goers, shocked and horrified by Fast Food Nation, pink slime, and the evils of Big Food, have felt an almost religious pull to Chipotle’s "Food With Integrity" mission ... When a listeria outbreak caused by Dole’s packaged salads was linked to four deaths last year, the public outcry was not nearly as intense or sustained (despite an ongoing federal investigation). When Tesla reported its first driver fatality while using its Autopilot feature last June, it didn’t affect the company’s stock price at all. Why were these deaths only blips for Dole’s and Tesla’s reputations? By contrast, Chipotle spent a year in hell even though no one died—and more than 265,000 Americans get sick annually from illnesses linked to E. coli. ... Chipotle has had no choice but to grapple with the reality that its prestige status has evaporated. And there is no obvious road map for gaining it back. ... what’s ailing Chipotle is more pervasive and insidious than any foodborne illness. For Chipotle to win back all it has lost will require a soul-cleansing broader than perhaps even Ells and Moran realize. ... As Chipotle has grown, its operation has evolved to be anything but simple. The company purchases 185 million pounds of what it considers responsibly raised beef, pork, and chicken annually. ... Chipotle goes through more than 200,000 pounds of avocados daily ... The kitchen theatrics that Ells has deftly used to promote his food’s freshness to customers—the sizzling plancha, the tortilla grill—obscured that it was less safe than conventional fast food. The company had disclosed this fact to investors long before the crisis. ... Chipotle’s future hinges less on hourly audits or triple-washed lettuce or rewards programs than a reimagining of what Food With Integrity means for the next 20 years.

BBC - The secret behind Italy’s rarest pasta 5min

Residents here still speak Sardo, the closest living form of Latin. Grandmothers gaze warily at outsiders from under embroidered veils. And, in a modest apartment in the town of Nuoro, a slight 62-year-old named Paola Abraini wakes up every day at 7 am to begin making su filindeu – the rarest pasta in the world. ... In fact, there are only two other women on the planet who still know how to make it: Abraini’s niece and her sister-in-law, both of whom live in this far-flung town clinging to the slopes of Monte Ortobene. ... No one can remember how or why the women in Nuoro started preparing su filindeu (whose name means “the threads of God”), but for more than 300 years, the recipe and technique have only been passed down through the women in Abraini’s family – each of whom have guarded it tightly before teaching it to their daughters. ... Last year, a team of engineers from Barilla pasta came to see if they could reproduce her technique with a machine. They couldn’t.

The New York Times - Why Isn’t the U.S. Better at Predicting Extreme Weather? 12min

Mass, who is 64, has become the most widely recognized critic of weather forecasting in the United States — and specifically the National Oceanic and Atmospheric Administration, which manages the National Weather Service and its underling agencies, including the National Centers for Environmental Prediction, where the nation’s weather models are run. Mass argues that these models are significantly flawed in comparison with commercial and European alternatives. American forecasting also does poorly at data assimilation, the process of integrating information about atmospheric conditions into modeling programs; in the meantime, a lack of available computing power precludes the use of more advanced systems already operating at places like the European Center for Medium-Range Weather Forecasts, based in Reading, England. And there are persistent management challenges, perhaps best represented by the legions of NOAA scientists whose innovations remain stranded in research labs and out of the hands of the National Weather Service operational forecasters who make the day-to-day predictions in 122 regional offices around the country. ... accuracy is everything, often the difference between life and death, given that extreme weather ... Industries like shipping, energy, agriculture and utilities lose money when predictions fail. Even slightly more precise wind-speed projections would help airlines greatly reduce fuel costs. ... the Weather Service interface was so primitive — the protocol was originally designed for the telegraph — it could only accommodate uppercase type.

Barron's - Faster, Smarter, Better: The Next Chip Revolution 12min

Sensors gave machines the ability to perceive things like light, altitude, and moisture by converting stimuli into ones and zeros. The coming revolution will be filled with what are called “actuators,” which do the reverse. They allow machines to simplify our world by converting those ones and zeros back into some form of force, such as light or magnetic waves, or even physical pressure that can push objects. The actuator, like the sensor before it, is part of technology’s relentless quest to make machines do more and more things with greater and greater efficiency, as epitomized by the microprocessor, the most efficient information device ever made. ... whole industries will be reshaped. The market for fossil fuels, for example, will suffer a new setback, as power for your electric vehicle can be delivered from a simple charging plate that works in much the same way your Apple Watch gets juiced up in its cradle. The life-sciences market will have to adjust to a world where tests can be performed and therapies delivered from a capsule you swallow to detect cancer. And robots that use actuators to move parts with great precision—and can be recharged wirelessly—will take on more manufacturing tasks. ... One of the most promising is made of a compound of gallium and nitride, referred to as GaN. It’s far more efficient than silicon at converting the movement of electrons into energy radiating outward.