Barry Ritholtz

Director of Twitter Cognitive Dissonance Chair/CIO of RWM https://t.co/n78eQEY6QZ Masters-in-Business radio host https://t.co/IlsqtpPDVS

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Book Recommendations:

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Recommended by Barry Ritholtz

@TheWifesBF The book was great. I beleive Showtime is getting added to Paramount +, so that may be accessible. Thanks! (from X)

New York Times and Wall Street Journal Bestseller A New York Times technology correspondent presents the dramatic story of Uber, the Silicon Valley startup at the center of one of the great venture capital power struggles of our time. In June 2017, Travis Kalanick, the hard-charging CEO of Uber, was ousted in a boardroom coup that capped a brutal year for the transportation giant. Uber had catapulted to the top of the tech world, yet for many came to symbolize everything wrong with Silicon Valley. Award-winning New York Times technology correspondent Mike Isaac’s Super Pumped presents the dramatic rise and fall of Uber, set against an era of rapid upheaval in Silicon Valley. Backed by billions in venture capital dollars and led by a brash and ambitious founder, Uber promised to revolutionize the way we move people and goods through the world. A near instant “unicorn,” Uber seemed poised to take its place next to Amazon, Apple, and Google as a technology giant. What followed would become a corporate cautionary tale about the perils of startup culture and a vivid example of how blind worship of startup founders can go wildly wrong. Isaac recounts Uber’s pitched battles with taxi unions and drivers, the company’s toxic internal culture, and the bare-knuckle tactics it devised to overcome obstacles in its quest for dominance. With billions of dollars at stake, Isaac shows how venture capitalists asserted their power and seized control of the startup as it fought its way toward its fateful IPO. Based on hundreds of interviews with current and former Uber employees, along with previously unpublished documents, Super Pumped is a page-turning story of ambition and deception, obscene wealth, and bad behavior that explores how blistering technological and financial innovation culminated in one of the most catastrophic twelve-month periods in American corporate history.

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Recommended by Barry Ritholtz

@Spencerjakab @jasonzweigwsj The book is amazing -- just a fantastic read, all the more remarkable because it is a true story. (from X)

In August 1914, explorer Ernest Shackleton and his crew set sail from England for Antarctica, where Shackleton hoped to be the first man to cross the uncharted continent on foot. Five months later, the Endurance - just a day's sail short of its destination - became locked in an island of ice, and its destiny and men became locked in history. For ten months the ice-moored Endurance drifted until it was finally crushed, and Shackleton and his crew made an 850-mile journey in a 20-foot craft through the South Atlantic's worst seas to reach an outpost of civilization. Inspired by the ordeal that Time magazine said "defined heroism," author Alfred Lansing conducted interviews with the crew's surviving members and pored over diaries and personal accounts to create his best-selling book on the miraculous voyage. In Audio Partners' abridged recording of Endurance, reader Patrick Malahide renders a masterful portrayal of these courageous men.

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Recommended by Barry Ritholtz

@NewRetirement @paulg @morganhousel @awealthofcs @christine_benz Paul + Y Combinator get a nice mention in @scmallaby book . . . Its a great read. (from X)

Shortlisted for the Financial Times Business Book of the Year Named a Best Book of 2022 by The Economist “A gripping fly-on-the-wall story of the rise of this unique and important industry based on extensive interviews with some of the most successful venture capitalists.” - Daniel Rasmussen, Wall Street Journal “A must-read for anyone seeking to understand modern-day Silicon Valley and even our economy writ large.” -Bethany McLean, The Washington Post "A rare and unsettling look inside a subculture of unparalleled influence.” —Jane Mayer "A classic...A book of exceptional reporting, analysis and storytelling.” —Charles Duhigg From the New York Times bestselling author of More Money Than God comes the astonishingly frank and intimate story of Silicon Valley’s dominant venture-capital firms—and how their strategies and fates have shaped the path of innovation and the global economy Innovations rarely come from “experts.” Elon Musk was not an “electric car person” before he started Tesla. When it comes to improbable innovations, a legendary tech VC told Sebastian Mallaby, the future cannot be predicted, it can only be discovered. It is the nature of the venture-capital game that most attempts at discovery fail, but a very few succeed at such a scale that they more than make up for everything else. That extreme ratio of success and failure is the power law that drives the VC business, all of Silicon Valley, the wider tech sector, and, by extension, the world. In The Power Law, Sebastian Mallaby has parlayed unprecedented access to the most celebrated venture capitalists of all time—the key figures at Sequoia, Kleiner Perkins, Accel, Benchmark, and Andreessen Horowitz, as well as Chinese partnerships such as Qiming and Capital Today—into a riveting blend of storytelling and analysis that unfurls the history of tech incubation, in the Valley and ultimately worldwide. We learn the unvarnished truth, often for the first time, about some of the most iconic triumphs and infamous disasters in Valley history, from the comedy of errors at the birth of Apple to the avalanche of venture money that fostered hubris at WeWork and Uber. VCs’ relentless search for grand slams brews an obsession with the ideal of the lone entrepreneur-genius, and companies seen as potential “unicorns” are given intoxicating amounts of power, with sometimes disastrous results. On a more systemic level, the need to make outsized bets on unproven talent reinforces bias, with women and minorities still represented at woefully low levels. This does not just have social justice implications: as Mallaby relates, China’s homegrown VC sector, having learned at the Valley’s feet, is exploding and now has more women VC luminaries than America has ever had. Still, Silicon Valley VC remains the top incubator of business innovation anywhere—it is not where ideas come from so much as where they go to become the products and companies that create the future. By taking us so deeply into the VCs’ game, The Power Law helps us think about our own future through their eyes.

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Recommended by Barry Ritholtz

Understand what @RayDalio is saying: His research observes empires end when nations have huge internal divisions + great wealth inequality. It's in his newest book, "Principles for Dealing with the Changing World Order: Why Nations Succeed and Fail.” @tomkeene @lisaabramowicz1 (from X)

NEW YORK TIMES BESTSELLER * MORE THAN ONE MILLION COPIES SOLD “A provocative read...There are few tomes that coherently map such broad economic histories as well as Mr. Dalio’s. Perhaps more unusually, Mr. Dalio has managed to identify metrics from that history that can be applied to understand today.” —Andrew Ross Sorkin, The New York Times From legendary investor Ray Dalio, author of the #1 New York Times bestseller Principles, who has spent half a century studying global economies and markets, Principles for Dealing with the Changing World Order examines history’s most turbulent economic and political periods to reveal why the times ahead will likely be radically different from those we’ve experienced in our lifetimes—and to offer practical advice on how to navigate them well. A few years ago, Ray Dalio noticed a confluence of political and economic conditions he hadn’t encountered before. They included huge debts and zero or near-zero interest rates that led to massive printing of money in the world’s three major reserve currencies; big political and social conflicts within countries, especially the US, due to the largest wealth, political, and values disparities in more than 100 years; and the rising of a world power (China) to challenge the existing world power (US) and the existing world order. The last time that this confluence occurred was between 1930 and 1945. This realization sent Dalio on a search for the repeating patterns and cause/effect relationships underlying all major changes in wealth and power over the last 500 years. In this remarkable and timely addition to his Principles series, Dalio brings readers along for his study of the major empires—including the Dutch, the British, and the American—putting into perspective the “Big Cycle” that has driven the successes and failures of all the world’s major countries throughout history. He reveals the timeless and universal forces behind these shifts and uses them to look into the future, offering practical principles for positioning oneself for what’s ahead.

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Recommended by Barry Ritholtz

The detail @JohnCarreyrou goes into about David Boies is amazing. His involvement with Theranos damaged his reputation -- he was once America's greatest litigator but the book makes him look like just another ethically compromised lawyer. And that's before Harvey Weinstein... https://t.co/s3QRkPYHue (from X)

NATIONAL BESTSELLER • The gripping story of Elizabeth Holmes and Theranos—one of the biggest corporate frauds in history—a tale of ambition and hubris set amid the bold promises of Silicon Valley, rigorously reported by the prize-winning journalist. With a new Afterword covering her trial and sentencing, bringing the story to a close. “Chilling ... Reads like a thriller ... Carreyrou tells [the Theranos story] virtually to perfection.” —The New York Times Book Review In 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the next Steve Jobs: a brilliant Stanford dropout whose startup “unicorn” promised to revolutionize the medical industry with its breakthrough device, which performed the whole range of laboratory tests from a single drop of blood. Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in a fundraising round that valued the company at more than $9 billion, putting Holmes’s worth at an estimated $4.5 billion. There was just one problem: The technology didn’t work. Erroneous results put patients in danger, leading to misdiagnoses and unnecessary treatments. All the while, Holmes and her partner, Sunny Balwani, worked to silence anyone who voiced misgivings—from journalists to their own employees.

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Recommended by Barry Ritholtz

@RobinWigg @Valuentum @jasonzweigwsj @Downtown Bernstein was amazing, and this book is the pinnacle of his writing career. EOM (from X)

A Business Week, New York Times Business, and USA Today Bestseller "Ambitious and readable . . . an engaging introduction to the oddsmakers, whom Bernstein regards as true humanists helping to release mankind from the choke holds of superstition and fatalism." ―The New York Times "An extraordinarily entertaining and informative book." ―The Wall Street Journal "A lively panoramic book . . . Against the Gods sets up an ambitious premise and then delivers on it." ―Business Week "Deserves to be, and surely will be, widely read." ―The Economist "[A] challenging book, one that may change forever the way people think about the world." ―Worth "No one else could have written a book of such central importance with so much charm and excitement." ―Robert Heilbroner author, The Worldly Philosophers "With his wonderful knowledge of the history and current manifestations of risk, Peter Bernstein brings us Against the Gods. Nothing like it will come out of the financial world this year or ever. I speak carefully: no one should miss it." ―John Kenneth Galbraith Professor of Economics Emeritus, Harvard University In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods chronicles the remarkable intellectual adventure that liberated humanity from oracles and soothsayers by means of the powerful tools of risk management that are available to us today. "An extremely readable history of risk." ―Barron's "Fascinating . . . this challenging volume will help you understand the uncertainties that every investor must face." ―Money "A singular achievement." ―Times Literary Supplement "There's a growing market for savants who can render the recondite intelligibly-witness Stephen Jay Gould (natural history), Oliver Sacks (disease), Richard Dawkins (heredity), James Gleick (physics), Paul Krugman (economics)-and Bernstein would mingle well in their company." ―The Australian

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Recommended by Barry Ritholtz

@IvanTheK His recent book "The Delusions Of Crowds: Why People Go Mad in Groups" explains the history of these relationships + the shockingly consistent elements among all of them. I had him on MiB earlier this year to discuss it -- quite fascinating https://t.co/HcIQyWrHQL (from X)

Inspired by Charles Mackay's 19th-century classic Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, William Bernstein engages with mass delusion with the same curiosity and passion, but armed with the latest scientific research that explains the biological, evolutionary and psychosocial roots of human irrationality. Bernstein tells the stories of dramatic religious and financial mania in western society over the last 500 years - from the Anabaptist Madness that afflicted the Low Countries in the 1530s to the dangerous end-times beliefs that animate ISIS and pervade today's polarised nations; and from the South Sea Bubble to the Enron scandal and dot com bubbles of recent years. Through Bernstein's supple prose, the participants are as colourful as their motivation, invariably 'the desire to improve one's well-being in this life or the next.' As revealing about human nature as they are historically significant, Bernstein's chronicles reveal the huge cost and alarming implications of mass mania as he observes that if we can absorb the history and biology of mass delusion, we can recognise it more readily in our own time and avoid its frequently dire impact.

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Recommended by Barry Ritholtz

DUNE is the classic sci-fi book that defies being turned into a film. Its a great piece of literature, complex, cerebral, + exciting, but it does not lend itself to simple a 2.5 hour narrative. Instead, it should be serialized over 25-50 episodes - like Asimov's Foundation (from X)

Dune book cover

by Frank Herbert·You?

• DUNE: PART TWO • THE MAJOR MOTION PICTURE Directed by Denis Villeneuve, screenplay by Denis Villeneuve and Jon Spaihts, based on the novel Dune by Frank Herbert • Starring Timothée Chalamet, Zendaya, Rebecca Ferguson, Josh Brolin, Austin Butler, Florence Pugh, Dave Bautista, Christopher Walken, Stephen McKinley Henderson, Léa Seydoux, with Stellan Skarsgård, with Charlotte Rampling, and Javier Bardem Frank Herbert’s epic masterpiece—a triumph of the imagination and the bestselling science fiction novel of all time. Set on the desert planet Arrakis, Dune is the story of Paul Atreides—who would become known as Muad'Dib—and of a great family's ambition to bring to fruition humankind’s most ancient and unattainable dream. A stunning blend of adventure and mysticism, environmentalism and politics, Dune won the first Nebula Award, shared the Hugo Award, and formed the basis of what is undoubtedly the grandest epic in science fiction.

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Recommended by Barry Ritholtz

Super excited to read my partner @ReformedBroker's new book, "How I Invest My Money" written with @brianportnoy. The concept is great, and I love the awesome illustrations by @behaviorgap! https://t.co/bEj6h66jzX (from X)

The world of investing normally sees experts telling us the 'right' way to manage our money. How often do these experts pull back the curtain and tell us how they invest their own money? Never. How I Invest My Money changes that. In this unprecedented collection, 25 financial experts share how they navigate markets with their own capital. In this honest rendering of how they invest, save, spend, give, and borrow, this group of portfolio managers, financial advisors, venture capitalists and other experts detail the 'how' and the 'why' of their investments. They share stories about their childhood, their families, the struggles they face and the aspirations they hold. Sometimes raw, always revealing, these stories detail the indelible relationship between our money and our values. Taken as a whole, these essays powerfully demonstrate that there is no single 'right' way to save, spend, and invest. We see a kaleidoscope of perspectives on stocks, bonds, real assets, funds, charity, and other means of achieving the life one desires. With engaging illustrations throughout by Carl Richards, How I Invest My Money inspires readers to think creatively about their financial decisions and how money figures in the broader quest for a contented life. With contributions from: Morgan Housel, Christine Benz, Brian Portnoy, Joshua Brown, Bob Seawright, Carolyn McClanahan, Tyrone Ross, Dasarte Yarnway, Nina O'Neal, Debbie Freeman, Shirl Penney, Ted Seides, Ashby Daniels, Blair duQuesnay, Leighann Miko, Perth Tolle, Josh Rogers, Jenny Harrington, Mike Underhill, Dan Egan, Howard Lindzon, Ryan Krueger, Lazetta Rainey Braxton, Rita Cheng, Alex Chalekian

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Recommended by Barry Ritholtz

An oddly fascinating account of how an engineer discovered that numbers in a revered 65-year-old book— “A Million Random Digits”—contained mysterious errors. https://t.co/IjmtkLA3QP via @WSJ (from X)

This book was a product of RAND's pioneering work in computing, as well a testament to the patience and persistence of researchers in the early days of RAND.

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Recommended by Barry Ritholtz

The first book was so great ! https://t.co/56TuvD4xtO (from X)

#1 NEW YORK TIMES BESTSELLER • The thrilling sequel to the beloved worldwide bestseller Ready Player One, the near-future adventure that inspired the blockbuster Steven Spielberg film. NAMED ONE OF THE BEST BOOKS OF THE YEAR BY THE WASHINGTON POST • “The game is on again. . . . A great mix of exciting fantasy and threatening fact.”—The Wall Street Journal AN UNEXPECTED QUEST. TWO WORLDS AT STAKE. ARE YOU READY? Days after winning OASIS founder James Halliday’s contest, Wade Watts makes a discovery that changes everything. Hidden within Halliday’s vaults, waiting for his heir to find, lies a technological advancement that will once again change the world and make the OASIS a thousand times more wondrous—and addictive—than even Wade dreamed possible. With it comes a new riddle, and a new quest—a last Easter egg from Halliday, hinting at a mysterious prize. And an unexpected, impossibly powerful, and dangerous new rival awaits, one who’ll kill millions to get what he wants. Wade’s life and the future of the OASIS are again at stake, but this time the fate of humanity also hangs in the balance. Lovingly nostalgic and wildly original as only Ernest Cline could conceive it, Ready Player Two takes us on another imaginative, fun, action-packed adventure through his beloved virtual universe, and jolts us thrillingly into the future once again.

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Recommended by Barry Ritholtz

Great read: Fascinating book that tells the tale of a enigmatic hedge fund, it’s secretive founder, and the team of brilliant data scientists who managed to “solve the market.” Nice work ⁦@GZuckerman⁩ ! https://t.co/QVgG546flw (from X)

NEW YORK TIMES BESTSELLER Shortlisted for the Financial Times/McKinsey Business Book of the Year Award The unbelievable story of a secretive mathematician who pioneered the era of the algorithm–and made $23 billion doing it. The greatest money maker in modern financial history, no other investor–Warren Buffett, Peter Lynch, Ray Dalio, Steve Cohen, or George Soros–has touched Jim Simons’ record. Since 1988, Renaissance’s signature Medallion fund has generated average annual returns of 66 percent. The firm has earned profits of more than $100 billion, and upon his passing, Simons left a legacy of investors who use his mathematical, computer-oriented approach to trading and building wealth. Drawing on unprecedented access to Simons and dozens of current and former employees, Zuckerman, a veteran Wall Street Journal investigative reporter, tells the gripping story of how a world-class mathematician and former code breaker mastered the market. Simons pioneered a data-driven, algorithmic approach that’s swept the world. As Renaissance became a market force, its executives began influencing the world beyond finance. Simons became a major figure in scientific research, education, and liberal politics. Senior executive Robert Mercer is more responsible than anyone else for the Trump presidency, placing Steve Bannon in the campaign and funding Trump’s victorious 2016 effort. Mercer also impacted the campaign behind Brexit. The Man Who Solved the Market is a portrait of a modern-day Midas who remade markets in his own image, but failed to anticipate how his success would impact his firm and his country. It’s also a story of what Simons’s revolution will mean for the rest of us long after his death in 2024.

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Recommended by Barry Ritholtz

Even to a bitcoin skeptic like myself, Vigna and Casey's book is a fascinating journey into the cast of characters and oddballs behind the movement into the digital currency realm. (from Amazon)

Bitcoin became a buzzword overnight. A cyber-enigma with an enthusiastic following, it pops up in headlines and fuels endless media debate. You can apparently use it to buy anything from coffee to cars, yet few people seem to truly understand what it is. This raises the question: Why should anyone care about bitcoin? In The Age of Cryptocurrency, Wall Street journalists Paul Vigna and Michael J. Casey deliver the definitive answer to this question. Cybermoney is poised to launch a revolution, one that could reinvent traditional financial and social structures while bringing the world's billions of "unbanked" individuals into a new global economy. Cryptocurrency holds the promise of a financial system without a middleman, one owned by the people who use it and one safeguarded from the devastation of a 2008-type crash. But bitcoin, the most famous of the cybermonies, carries a reputation for instability, wild fluctuation, and illicit business; some fear it has the power to eliminate jobs and to upend the concept of a nation state. It implies, above all, monumental and wide-reaching change-for better and for worse. But it is here to stay, and you ignore it at your peril. Vigna and Casey demystify cryptocurrency-its origins, its function, and what you need to know to navigate a cyber-economy. The digital currency world will look very different from the paper currency world; The Age of Cryptocurrency will teach you how to be ready.

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Recommended by Barry Ritholtz

[A] lovely short book, which is likely to be a graduation and holiday gift for years to come. (from Amazon)

An unconventional book of wisdom and life advice from renowned business school professor and New York Times bestselling author of The Four Scott Galloway. Scott Galloway teaches brand strategy at NYU's Stern School of Business, but his most popular lectures deal with life strategy, not business. In the classroom, on his blog, and in YouTube videos garnering millions of views, he regularly offers hard-hitting answers to the big questions: What's the formula for a life well lived? How can you have a meaningful career, not just a lucrative one? Is work/life balance possible? What are the elements of a successful relationship? The Algebra of Happiness: Notes on the Pursuit of Success, Love, and Meaning draws on Professor Galloway's mix of anecdotes and no-BS insight to share hard-won wisdom about life's challenges, along with poignant personal stories. Whether it's advice on if you should drop out of school to be an entrepreneur (it might have worked for Steve Jobs, but you're probably not Steve Jobs), ideas on how to position yourself in a crowded job market (do something "boring" and move to a city; passion is for people who are already rich), discovering what the most important decision in your life is (it's not your job, your car, OR your zip code), or arguing that our relationships to others are ultimately all that matter, Galloway entertains, inspires, and provokes. Brash, funny, and surprisingly moving, The Algebra of Happiness represents a refreshing perspective on our need for both professional success and personal fulfillment, and makes the perfect gift for any new graduate, or for anyone who feels adrift.

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Recommended by Barry Ritholtz

Influence is a must-read for anyone who wants to understand the decision-making process. It is simply essential reading in the canon of psychology and behavioral finance. (from Amazon)

The widely adopted, now classic book on influence and persuasion—a major national and international bestseller with more than four million copies sold! In this highly acclaimed New York Times bestseller, Dr. Robert B. Cialdini—the seminal expert in the field of influence and persuasion—explains the psychology of why people say yes and how to apply these principles ethically in business and everyday situations. You’ll learn the six universal principles of influence and how to use them to become a skilled persuader—and, just as importantly, how to defend yourself against dishonest influence attempts: Reciprocation: The internal pull to repay what another person has provided us.Commitment and Consistency: Once we make a choice or take a stand, we work to behave consistently with that commitment in order to justify our decisions.Social Proof: When we are unsure, we look to similar others to provide us with the correct actions to take. And the more, people undertaking that action, the more we consider that action correct.Liking: The propensity to agree with people we like and, just as important, the propensity for others to agree with us, if we like them.Authority: We are more likely to say “yes” to others who are authorities, who carry greater knowledge, experience or expertise.Scarcity: We want more of what is less available or dwindling in availability.Understanding and applying the six principles ethically is cost-free and deceptively easy. Backed by Dr. Cialdini’s 35 years of evidence-based, peer-reviewed scientific research—as well as by a three-year field study on what moves people to change behavior—Influence is a comprehensive guide to using these principles effectively to amplify your ability to change the behavior of others.