LIV failed as a golf tour and burned through a staggering amount of money, but its hostile challenge jolted the PGA Tour into finally treating golf as a star-driven spectator sport. @Ourand_Puck reports: puck.news/how-liv-golf-force…

Tom Kim shoots a final round 64 to win the individual gold medal at the Asian Games. The victory secures him an exemption from service in the South Korean military.

For the past few months, I have been studying New York City’s housing market – specifically, the policies and economics governing its nearly one million rent-stabilized apartments. More than two million New Yorkers live in these homes - which equates to roughly 1 in 140 Americans. My central question was this: If New York City is facing a severe housing shortage and affordability crisis, why are apartment buildings in the Bronx and Upper Manhattan selling for as little as $50,000 per unit? That question became the starting point for an investigation into New York State housing law, multifamily apartment economics, and the physics of maintaining 100-year-old buildings. It also led me to Seth Glasser, one of New York City’s top multifamily brokers. Seth leads the New York Multifamily Group at Marcus & Millichap and co-hosts the New York City Multifamily Podcast. He recently joined me on my podcast, Notes from the Front, to discuss how the 2019 New York State rent laws fundamentally transformed the economics of rent-stabilized buildings. In this episode, Seth explains how the 2019 policy changes contributed to severe financial distress across the market, and what that distress means for both balance sheets and buildings. At the heart of our conversation is the following question: What happens when the political promise of affordability collides with the physical cost of maintaining an aging building? If a building’s income cannot support its roof, boiler, pipes, and necessary repairs, who ultimately pays the price? The answer, unfortunately, may be the people living inside it. The chapter list & episode links are below. I hope you find the conversation as fascinating as I did!

Historic day.

The Berlin Senate froze rents for roughly 1.5 million apartments in February 2020, capping them at 2019 levels and threatening landlords with fines up to 500,000 euros for charging more. Politicians sold this as relief for working Berliners getting priced out of their neighborhoods. What actually happened: developers stopped building. Why pour capital into a city where bureaucrats set your return? New listings on the market dropped by nearly half while listings in Brandenburg, just outside Berlin's jurisdiction, surged. Landlords quietly shifted units to the unregulated short-term market. Supply tightened further. The Federal Constitutional Court killed the law in April 2021, ruling Berlin lacked jurisdiction over rental law. Rents jumped immediately as landlords collected back-payments they had legally reserved the right to claim all along. Tenants who thought they were protected suddenly faced bills they could not afford. The Berlin Senate manufactured a crisis inside the crisis it was supposedly fixing. Price controls reduce housing supply, not housing costs. Every euro of rent a landlord cannot legally charge is an investment signal that dies before a single foundation gets poured. You end up with fewer apartments, not cheaper ones, and eventually the law collapses anyway and you absorb the full price shock at once. These people never learn.

Paul Casey has pledged to donate his entire Omega European Masters prize money to the Fondation Beloved charity, which supports the families of victims of the Swiss bar fire during New Year's celebrations in Crans-Montana. With a direct connection to victims of the tragedy, Casey wanted to give back to the local community. Learn more about the Fondation Beloved here 👇 fondationbeloved.ch/en/ #OEM2026

The final putt, then the handshakes. Golf, as it should be. 🤝

hard to overstate how much damage NY lawmakers caused to NY tenants and apartments with their 2019 housing "stabilization" act they made apartment improvements collapse, while operating costs have soared ahead of rent increases no accountability, however

Fantastic to be back at the Tour Championship! To walk with my mate Scotty after a combined 50yrs + of sharing the fairways of professional golf together it’s great see we continue to play at the highest level, against the best and brightest stars on tour. I’m sure we’ll both push as hard as possible for as long as we can.. See you on the tee Thursday Scotty! 🤝

wsj.com/opinion/let-the-bond… Important

Patrick Jeffers.

Another thing I love about Coach Scheyer. Move-in day. New students. New Crazies. He’s right there in the middle of it. How many college bball coaches are this connected to the actual university? Duke Basketball isn’t separate from Duke. Coach Scheyer understands that.😈 📸@DukeMBB

Is @eamonlynch the guest columnist for today’s Heard on the Street column in the @wsj?

Catching skin cancer early is a home robotics problem. Melanoma is highly treatable when detected early, yet today’s screening process depends heavily on patients noticing tiny changes across their entire skin surface. This requires patients to solve a near-impossible visual-memory and registration problem. I built OpenDerm, an open-source 4-DOF robot that captures high-resolution images of the skin and uses them to reconstruct and track the skin surface in 3D over time. The best way to make skin screening truly routine is to bring it into the home. OpenDerm shows that inexpensive robotic skin imaging is possible, but the path to scale is not a dedicated screening robot in every household—it is to make skin screening one of the many useful things a general-purpose home robot can do. Read more about why I built OpenDerm and how it works here: Blog: marionlepert.github.io/blog/… Project: openderm.github.io/

A surprise of a lifetime 🥹 Notah Begay III is this year’s recipient of the Payne Stewart Award presented by @SouthernCompany, honoring his character, sportsmanship and commitment to charitable giving.

A reminder, Andy, of the Thatcher era: •⁠ ⁠Income tax: 83% → 40% •⁠ ⁠Basic rate: 33% → 25% •⁠ ⁠Inflation: 21.9% peak (1980) → 2.4% (1986) •⁠ ⁠Days lost to strikes: 29.5 million (1979) → 1.9 million (1990) •⁠ ⁠Real pay for the average earner: up by a third

If you are right, there would be no reason to lobby in DC to restrict our outlaw them. They would simply not matter.

Bike lanes are a massively regressive wealth transfer from working people who commute to the surplus elites who run our cities. Skinny elites want bike lanes so they can do their hobby more easily & fat ones so they feel better at night bc they’re solving global warming

ucl.ac.uk/news/2025/oct/nano… 👏🏻

Shinnecock is the best tournament course in 49 states and possibly 50 states in the US. @usopengolf will be a ton of fun to watch...especially with weather report. @USGA al the best for a great week.