Welcome to Bespoke Brunch Reads — a linkfest of the favorite things we read over the past week. The links are mostly market-related, but there are some other interesting subjects covered as well. We hope you enjoy the food for thought as a supplement to the research we provide you during the week.

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On This Day in History:

A Queen Crowned: On June 2nd, 1953, Queen Elizabeth II was crowned queen at 27 following the death of her father, King George VI. It was the first coronation to be watched from home, and the sale of televisions went through the roof. During her reign, Queen Elizabeth II oversaw the transition of several countries from British rule to independence. Notable examples include Ghana in 1957, Nigeria in 1960, and Kenya in 1963. She also played a role in transitioning the British Empire into the modern Commonwealth, as it grew from eight member nations to 54 during her reign. Her historic visit to Ireland in 2011 was even the first by a British monarch since Ireland gained independence, symbolizing a new era of Anglo-Irish relations. Despite her many accomplishments, the Queen didn’t escape controversy, as the royal family’s response to Princess Diana’s death in 1997 drew public criticism. Queen Elizabeth II sadly passed away in 2022 at the age of 96. As the longest-reigning monarch in British history, her son has taken over as King Charles III.

Batteries Taking Charge of the California Grid (Grid Status Exports)
Battery storage in California ISO (Independent System Operator) has surged this spring, with batteries discharging over 5GW at peak times, doubling last year’s average. This increase has led to the lowest average hourly gas generation in seven years. Solar generation also set new records, with the top ten instantaneous solar records occurring in late April, working with batteries to manage solar ramps and reduce midday gas usage. Midday exports have declined despite increased solar generation, indicating a cleaner energy mix. [Link]

The incredible, Earth-saving electric bike is having a moment (Business Insider)
E-bikes have surged in popularity, especially during the pandemic, providing a greener alternative to cars for short trips. Research shows that using an e-bike even once a day can dramatically reduce transportation emissions. E-bikes can be convenient, but they can also help overcome barriers like steep hills and long commutes, making biking a viable option for more people who would otherwise avoid them. Sales of e-bikes have skyrocketed, and new legislation may soon offer financial incentives to boost their adoption. [Link]

The Slowdown in US Electric Vehicle Sales Looks More Like a Blip (Bloomberg)
Despite a flat start to the year for US EV sales and setbacks for Ford and Tesla, the EV market is still strong. Many top automakers, including Hyundai-Kia and Ford, saw substantial sales increases, with some brands seeing over 50% growth in Q1. GM expects a massive ramp-up with new models featuring its Ultium batteries. Tesla is navigating a transitional phase by opening its Supercharger network to non-Tesla owners and planning new vehicle launches, including a self-driving “Cybercab” and potentially more affordable models next year. Other manufacturers are introducing affordable, mass-produced EVs. Long-term forecasts remain optimistic for EV sales over the next few years. [Link]

Solar and battery storage to make up 81% of new U.S. electric-generating capacity in 2024 (U.S. Energy Information Administration)
According to the latest data, developers and power plant owners plan to add 62.8 gigawatts (GW) of new utility-scale electric-generating capacity in 2024, a 55% increase from 2023. Solar power will lead the charge, with an expected record addition of 36.4 GW, nearly doubling last year’s 18.4 GW. Key states like Texas, California, and Florida will dominate these new solar installations. Battery storage is also set to see substantial growth, with plans to add 14.3 GW, nearly doubling the current capacity, driven by projects in Texas and California and boosted by investment tax credits from the Inflation Reduction Act. Wind power will add 8.2 GW, including significant offshore projects like Vineyard Wind 1 and South Fork Wind. Natural gas additions will be the lowest in 25 years, with 2.5 GW planned, primarily from simple-cycle gas turbine plants. Lastly, the Vogtle nuclear power plant in Georgia is set to start its fourth reactor in March 2024, contributing an additional 1.1 GW. [Link]

A problematic estimate of warming from low-sulfur marine fuels (The Climate Brink)
Aerosols play a complex role in the climate system by reflecting sunlight and serving as cloud condensation nuclei, which cool the Earth. The main source of these aerosols has been burning sulfur-rich fossil fuels. However, global sulfur dioxide emissions have decreased significantly, particularly due to regulations like the IMO2020, which dramatically cut sulfur emissions from ships. This reduction has likely unmasked some of the warming previously offset by these aerosols. A new study estimates that the IMO2020 regulations have led to an increase in radiative forcing over the oceans, contributing to additional warming. However, their simplified model may overstate the immediate warming impact. [Link]

Economic Trends

Amazon Fresh to cut grocery prices by as much as 30% to bring back inflation-battered customers (New York Post)
Amazon is cutting grocery prices by up to 30% at its Amazon Fresh stores, both online and in physical locations, to attract inflation-weary customers. The discounts will cover 4,000 items, including meat, seafood, frozen food, dairy, snacks, and beverages, and apply to both national brands and Amazon-owned products. Prime members can enjoy an additional 10% off these reduced prices. Amazon is the latest to follow similar actions by Target and Walmart, which have also announced price cuts to help customers cope with rising food costs. [Link]

Investments

How Researchers Cracked an 11-Year-Old Password to a $3 Million Crypto Wallet (WIRED)
Two years ago, a cryptocurrency owner named Michael lost access to his $2 million worth of bitcoin stored in a password-protected digital wallet. After initial rejection, he convinced famed hacker Joe Grand to take on the challenge. Grand and his friend discovered a flaw in the RoboForm password manager that tied password generation to the computer’s date and time. This breakthrough allowed them to recreate Michael’s password from 2013, unlocking his fortune. Now, with his bitcoin valued at $3 million, Michael reflects on how losing access ultimately led to a greater financial gain. [Link]

Education

Are Gaza Protests Happening Mostly at Elite Colleges? (Washington Monthly)
Student protests against Israel’s actions in Gaza have been notably concentrated at elite colleges, like Columbia University, where fewer students come from lower-income families. Using data from Harvard’s Crowd Counting Consortium, it was found that pro-Palestinian protests and encampments were rare at colleges with high percentages of Pell Grant recipients, which indicates a lower-income student body. In contrast, protests were more common at selective, wealthy institutions. Data suggests that poorer students may prioritize other concerns like jobs and family responsibilities over protesting. Additionally, some colleges have a stronger tradition of activism, while others face political pressures to suppress protests. [Link]

War

‘He couldn’t wait to join’: thousands of young Russians die in Ukraine war (The Guardian)
Shortly after turning 18, Daniil Yermolenko joined the Russian armed forces, inspired by patriotic narratives. Following a brief training period, he was deployed to eastern Ukraine, where he tragically died in early April during intense combat. Yermolenko, the youngest known soldier killed in the conflict, was celebrated in his hometown with a military funeral. His death serves as an example of Russia’s push to recruit its youth, illustrated by increased spending on patriotic education and state-run militarized groups. Despite the Kremlin’s efforts, the effectiveness of this ideological campaign remains uncertain, with financial incentives playing an important role in recruitment. Yermolenko’s brother, Maksim, hopes Daniil’s story will motivate other young Russians to enlist. [Link]

Health & Wellness

What to Know About the Roiling Debate Over U.S. Maternal Mortality Rates (ProPublica)
An unusual public dispute has arisen among maternal health experts regarding the accuracy of the rising US maternal mortality rates over the past two decades. A new study claims that the CDC’s maternal death rates are inflated due to misclassified data and argues that the actual rates are lower and stable. The CDC and the American College of Obstetricians and Gynecologists criticized the study, stressing the importance of accurate data to address the maternal mortality crisis. Specifically, the introduction of the pregnancy checkbox on death certificates has improved the data collection process but also complicated it. Despite the differing views, both sides agree on the disproportionate impact on Black women and the need for more precise data to inform public health initiatives. [Link]

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