Monday links: rewarding ownership over effort

FinanceJane Street had a rough July, performance-wise. (ft.com)How private fund placement agents get paid. (cashandcarried.substack.com)It's hard to argue the Truth Social API is legal or ethical. (newyorker.com)Muni bondsWhy Texas pays more than California for similar muni bonds. (bloomberg.com)Does GAAP compliance matter for muni bond investors? (papers.ssrn.com)AIHow much of hyperscaler commitments are off balance sheet? (wsj.com)How hyperscaler issuance is changing the bond market. (sherwood.news)AI companies are buying rare books, scanning them and destroying them. (404media.co)Stay in touchWork in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)AI hacksJoe Weisenthal and Tracy Alloway talk with Miles Brundage, founder and executive director of the non-profit AVERI, about the HuggingFace hack. (podcasts.apple.com)Derek Thompson talks with Alex Stamos