EdgePoint Q2 2022 commentaries are now live on the website. This quarter:
- We have met the enemy, and it is us (equity) – Sydney Van Vierzen discusses why investors are the biggest risk to their own long-term returns
- Why I can’t sleep at night (fixed income) – Derek Skomorowski breaks down why he's so excited about today's fixed income opportunities
- Digging deeper (EdgePoint Go West Portfolio) – Frank Mullen talks about why you it’s important to invest in businesses, not just sectors.
This week in charts
German opinion on nuclear energy by political affiliation 2021 vs. 2022
Family planning during the pandemic in China
Shopify cancels fall internships, pauses recruiting for further roles amid fallen stock price
In a statement to The Globe and Mail on Friday, Shopify spokesperson Alex Lyons said the “fall internship program will continue with a reduced number of roles, which we have completed hiring for.” Mr. Lyons said Shopify is also evaluating other roles in a bid to focus on immediate initiatives to address the unwavering selloff that is battering the global technology sector.
Many tech companies have significantly scaled back their hiring plans and reduced staff in order to combat economic uncertainty stemming from inflation, rising interest rates, the war in Ukraine and a reversal of pandemic trends. Shopify now joins companies such as Twitter Inc., Coinbase Global Inc. and others that have yanked internship offers to address these global challenges.
Beyond Shopify’s internships, many new hires at the company had already been put in a state of limbo as they await their start date. A number of prospective employees, who were told they were going to be hired, have yet to receive written offers with salary figures apart from those discussed with Shopify recruiters.
Last week, Shopify said it is delaying an ambitious compensation overhaul that would give its employees more choice in how they’re paid. At least 50 people have been laid off since April, and dozens of permanent job offers have been delayed by Shopify while it adjusts that salary framework.
This week’s fun finds
Jack of All Trades, Master of Some
“Mario Kart is a zero-sum game, but real life isn't. In real life, skill development is very much a positive sum game.
“We aren't given 100 'skill points' at birth, that must be distributed across offsetting sliding scales. There is no limit to how many skills you can improve and master, and improvement in one field doesn't necessitate deterioration in another field.
“In fact, skills build on each other. Honing multiple skills is actually a positive sum game, where 1+1 = 3.”
Danish race fans
Two EdgePointers, Diane and Nataliya, were in Copenhagen at the same time the Tour de France started, and they were able to snag a few photos of the race:
