When the unicorn masters of Silicon Valley start putting most of their own money into cash, that may be a sign something bad is happening in the markets. —David E. Rovella Here are today's top storiesCarlos Ghosn, the legendary boss of Renault and Nissan, was arrested in Tokyo for alleged financial wrongdoing. The man who helped launch Instagram, Etsy and Foursquare says he’s pulling most of his money out of the markets. “There’s nothing safer than cash,” Steve Hoffman says. The markets Monday seemed to agree. It’s been almost two months since the S&P 500 closed at a record high. Since then, there have been lots and lots of losers. OPEC is so 20th century. Three men control the oil market, Julian Lee writes in Bloomberg Opinion. Can you guess who they are? Dubai is no stranger to the boom-and-bust. What’s happening now is different, though: a slow bleed. Remember what we said about millennials killing marriage (among other things)? Well, the cohabitation numbers are in, and they are still at it. What's Joe Weisenthal thinking about? Thanksgiving. Like 2017, he thinks everyone will still be talking about crypto come dinnertime. But this year, the news over the gravy boat won't be as happy. What you'll need to know tomorrow What you'll want to read tonightGenies is a tech startup that offers superstar NBA and NFL athletes a chance to get in on the ground floor of something that might make them even richer. Selling what, you ask? Avatars. When was the last time you used an emoji in a text message? A bitmoji? This could replace those. Have you started strategizing for 2019? We have. Don’t miss the annual Bloomberg Businessweek special report, The Year Ahead, on the major trends, disruptions, breakthrough products, innovations and movements to watch in the coming year. Get Bloomberg All Access in time to receive this issue in print and much more. The global economy is at an inflection point. Sign up for the Turning Points newsletter to be one of the first to receive weekly insights—and solutions—on climate, tech and trade from Andrew Browne and leading experts. Download the Bloomberg app: It's available for iOS and Android. |