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Bloomberg Businessweek-Asia Edition

Bloomberg Businessweek-Asia Edition June 14, 2021

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

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Bloomberg Finance LP
50 Issues

in this issue

7 min
the fomo economy

Billionaire trader and investor Stanley Druckenmiller bought Bitcoin after watching its price go up and feeling the fear of missing out, aka FOMO. “I felt like a moron,” he said in an interview with the online news site the Hustle in May. He cashed out part of his $20 million bet after prices soared—“my heart’s never been in it”—but described the stampede of money managers into the cryptocurrency as an elephant trying to fit through a keyhole. Druckenmiller has felt the FOMO before. In 1999 he loaded up on $6 billion worth of tech stocks, only to lose $3 billion in six weeks. “I was just an emotional basket case, and I couldn’t help myself,” he said years later. This time around, he looks more like a bellwether for a broader…

3 min
the glow of summer

This year we’ve never wanted it more: to make every lazy summer night outdoors last as long as possible. The best way to prolong an open-air evening, of course, is with some artfully placed lighting. So how to achieve that elegantly casual, thrown-together yet deliberate ambience? First, before installing anything, consider the entire area you hope to illuminate. “Lighting draws people’s attention to what you want them to see, vs. what you don’t,” says Sebastian Dostmann, whose company, Sebass Events & Entertainment in Greenwich, Conn., specializes in high-end alfresco functions. “An abundance of candles in the middle of a dinner table draws the eye away from the barbecue or hose reel.” Think layers, too, and mix brighter spotlights with twinkly, softer string lights. Highlighting the edge of a property will make even…

6 min
is streaming the limit for sky?

On a nondescript road on the northern outskirts of London, a TV and film factory the size of 17 soccer fields is under construction. But while the 14 soundproof hangars and sprawling post-production facilities of the Elstree studio complex are being tailor-made to let U.K. broadcaster Sky create worlds of make-believe, the massive facility has a mission that’s all too real: keeping Europe’s biggest pay-TV company relevant in the face of Netflix Inc.’s global barrage of bingeable content. “A Netflix show made in Italy has to work around the world. A Sky show in Italy has to work in Italy” Netflix doubled U.K. investment to $1 billion in 2020 and expects even more this year, when Sky (a unit of Comcast Corp. since 2018) will boost spending on original TV and film…

4 min
a climate to fear

José Mario Antonio Milla can remember a time when he could count on the rain. In La Laguna, a hamlet of about 60 families in western Honduras, showers used to start at the end of April and continue through November. In a good year, farmers in the area could harvest as much as 8 tons of corn—enough to feed their kin, with some left over to sell. “That was in the old days, 15 or 20 years ago. No one harvests those quantities anymore,” he says, adding that it’s already June and not a drop has fallen on his 2 acres. Several of Milla’s neighbors and relatives have quit trying to wring a living off the land and have moved to the cities, while others hired coyotes to smuggle them…

7 min
the housing market is on fire

“How do you make a rational offer on a house when you have irrational people in the game?” The parallels are hard to ignore: the record prices, the bidding wars, the subdivisions that fill up as soon as they’re built, the resourceful buyer who clinched a deal by dropping off cupcakes that matched the home’s interior paint colors. Today’s real estate market feels a lot like the bubble market circa 2006. “The numbers don’t make sense. How do you make a rational offer on a house when you have irrational people in the game?” asks James Carmer, a software engineer who’s toured more than 100 houses in Austin. So are we staring at another housing bubble? One hopes not, because when the last one burst, it triggered a global financial crisis and…

2 min
good green fun

Grass is always greener when you get out and enjoy it, a fact gambolers of yore sensed as clearly as morning dew underfoot. At the Biltmore in Asheville, N.C., “lawn games were taken into account from the very beginning,” says the house museum’s associate curator, Lauren Henry. Frederick Law Olmsted’s original plans for the grounds that served as George Washington Vanderbilt’s Gilded Age retreat “included two courts for lawn tennis” and a bowling green on the south terrace. Today, with the frolicsome post-lockdown vibe, lawn games such as croquet, bocce, and ladder toss are resurgent. “In the days since we opened for the 2021 season on May 15, we’ve noticed almost every single one of our guests partake in at least one of these activities with their families and friends,” says…