Why do large non-profit endowments, like the Whitney Museum of Art, yield terrible returns? A scrapped portion of a study on the success of funds previously suggested that funds geographically closer to Wall Street performed worse than average, which Clark Filio speculates may be because of greed and recklessness. Since the money used by non-profit board members didn’t come from their own pockets, he thinks they’re more likely to spend it on risky financial products peddled by Wall Street fund managers.
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Societal Issues
To curb drug deaths, communities turn to Reddit, texts and wastewater
With drug overdose deaths on the rise, authorities are attempting to curb the epidemic by tracking and sharing information in real time. In one unique effort, a nonprofit in New York City is using drug-testing equipment and stamping or marking habits of dealers to identify drug batches that may endanger users. Other approaches are also being used, such as monitoring drug-related chatter on Reddit and analyzing local wastewater for opioid and other drug levels. With the combination of these efforts, researchers hope to put a dent in the opioid crisis and reduce overdose deaths. Read full article here
Merv
June 1, 2023
