A touch long and wobbly but just the thing for alt-finance geeks with background in trading language and practice.
Mezrich delivers a knotty tale of the futures market and its discontents.
At the heart of the story are two characters whom we meet early on: “Vlad Tenev and Baiju Bhatt weren’t household names,” writes Mezrich in prose that harkens to the new journalism of old, “but their product was spreading through households and dorm rooms at an exponential rate, like a phone-born virus powered by pixie dust, exceptional design, and more than a little triggered greed.” The product, arrived at after the two experienced pangs of remorse for “helping rich people get richer,” was an app, Robinhood, that allowed ordinary people to trade on the stock market without brokerage fees (and not much regulatory oversight, as it turns out). One stock that took Robinhood’s interest was coincidentally attracting the attention of hedge fund managers: GameStop, a company that seemed to lack much vision of how to position itself in a video game market that, while its products were digital, required physical players to interpret the software. The managers were betting against it, shorting the stock. The investors who came to the game—Tenev and Bhatt would later be damned for the “gamification of trading”—through the app drove it up to improbable heights, costing Wall Street billions. Mezrich’s story is a tangle, necessarily, since the author has to sort out many threads: the drive to “democratize” Wall Street on one hand, the opposite drive to keep trading out of the hands of amateurs on the other, and more. In the hands of Michael Lewis, the narrative might have been neater, and Mezrich lets a few key terms go by without adequate explication—for example, readers new to the notion of order flow trading may get lost. The takeaway, though, is that life is short and Wall Street complicated. In that world, the winners are few and the losers, legion.
A touch long and wobbly but just the thing for alt-finance geeks with background in trading language and practice.Pub Date: Sept. 7, 2021
ISBN: 978-1-5387-0755-5
Page Count: 304
Publisher: Grand Central Publishing
Review Posted Online: July 9, 2021
Kirkus Reviews Issue: Aug. 1, 2021
BOOK TO SCREEN
BOOK TO SCREEN
BOOK TO SCREEN
An informative and creatively multilayered Google guidebook from the businessman’s perspective.
Two distinguished technology executives share the methodology behind what made Google a global business leader.
Former Google CEO Schmidt (co-author: The New Digital Age: Reshaping the Future of People, Nations and Business, 2013) and former senior vice president of products Rosenberg share accumulated wisdom and business acumen from their early careers in technology, then later as management at the Internet search giant. Though little is particularly revelatory or unexpected, the companywide processes that have made Google a household name remain timely and relevant within today’s digitized culture. After several months at Google, the authors found it necessary to retool their management strategies by emphasizing employee culture, codifying company values, and rethinking the way staff is internally positioned in order to best compliment their efforts and potential. Their text places “Googlers” front and center as they adopted the business systems first implemented by Google founders Larry Page and Sergey Brin, who stressed the importance of company-wide open communication. Schmidt and Rosenberg discuss the value of technological insights, Google’s effective “growth mindset” hiring practices, staff meeting maximization, email tips, and the company’s effective solutions to branding competition and product development complications. They also offer a condensed, two-page strategy checklist that serves as an apt blueprint for managers. At times, statements leak into self-congratulatory territory, as when Schmidt and Rosenberg insinuate that a majority of business plans are flawed and that the Google model is superior. Analogies focused on corporate retention and methods of maximizing Google’s historically impressive culture of “smart creatives” reflect the firm’s legacy of spinning intellect and creativity into Internet gold. The authors also demarcate legendary application missteps like “Wave” and “Buzz” while applauding the independent thinkers responsible for catapulting the company into the upper echelons of technological innovation.
An informative and creatively multilayered Google guidebook from the businessman’s perspective.Pub Date: Sept. 23, 2014
ISBN: 978-1455582341
Page Count: 320
Publisher: Business Plus/Grand Central
Review Posted Online: July 21, 2014
Kirkus Reviews Issue: Aug. 15, 2014
A solid and informative exploration of major New York real estate developments.
An insider looks at New York City’s commercial real estate business.
In this business book, Piore profiles the dominant figures in large-scale real estate development in New York in the 1990s and 2000s and the ways in which their projects reshaped the city’s skyline and communities. The construction of Hudson Yards opens the work, which then jumps back in time to review the city’s physical decline in the ’70s and its ’90s renewal before returning the focus to the large developments of the last two decades. In addition to Hudson Yards, the volume examines the construction of commercial and residential spaces at Columbus Circle, the redevelopment of the World Trade Center, and the growth of high-rise condos selling for record-setting prices to international buyers whose identities are concealed by shell corporations. Developers Steve Ross, Harry Macklowe, and Kent Swig are the book’s main characters, with other developers, financiers, and real estate brokers playing smaller roles. The work is filled with juicy quotes and insider gossip, not only about the projects, but about the men’s personal lives as well, with Swig’s and Macklowe’s expensive divorces getting plenty of attention. Some anecdotes appear multiple times throughout the text, like Macklowe’s late-night demolition of a building, adding to the sprawling nature of the narrative. But on the whole, Piore does a good job of keeping the threads of the story clear as he moves from one project to another. The complex financial and regulatory aspects of real estate development are explained in sufficient detail, making the volume appropriate for nonspecialist readers. As the work is focused primarily on major deals and the people involved in them, the sociological implications of the resulting housing shortages and growing economic inequality are only briefly touched on. Still, the author does acknowledge the problems along with celebrating the audacity and success of the long-shot bets that have resulted in multibillion-dollar wins.
A solid and informative exploration of major New York real estate developments.Pub Date: April 12, 2022
ISBN: 978-1-73794-340-2
Page Count: 380
Publisher: The Real Deal
Review Posted Online: March 21, 2022
Kirkus Reviews Issue: June 1, 2022
Review Program: Kirkus Indie
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