This week’s links: 5/5/19

Billion Dollar Whale: the crazy story behind 1MDB, what was once-to-be Malaysia’s sovereign wealth fund, which was used as a vehicle for fraud and corruption by Jho Low and his associates who purportedly siphoned upwards of $700M. Jho Low, currently a fugitive, allegedly spent this money on lavish homes, the financing of the Wolf of Wall Street movie, crazy parties with and gifts to Leo DiCaprio, Paris Hilton, Miranda Kerr, etc etc. A fascinating story that’s still unfolding.

Inside the secret team dinners that have built the Spurs’ dynasty: Gregg Popovich, long-time coach of the San Antonio Spurs for each of their five NBA championships, turns out to be an incredible connoisseur of wine and regularly builds his team’s culture and unity through intimate dinners at wonderful restaurants. A great peek into his leadership style.

Berkshire Hathaway’s Annual Shareholder’s Meeting took place this weekend. In addition to the recent WSJ interview with Charlie Munger, this serves as another great resource for picking the brains of two of the top investors, including topics like Berkshire’s share repurchase strategy, the recent Occidental deal, searching for ‘elephants’ outside of the U.S., and a surprising amount of face-time with Ajit Jain and Greg Abel.

USAFacts 2019 Annual Report by Steve Ballmer’s newest organization gives an interesting and pretty comprehensive look into the US population and government spending.

How the Kleiner Perkins Empire Fell: under what situations can high returns be sustained? Kleiner Perkins has sustained a string of missteps and missed opportunities. It’s birthed some new powerhouses of funds, but hasn’t been able to chart an optimistic path for the firm’s own future.

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