Monday links: the race to the bottom

MarketsThe past 15 year have seen way above average equity returns. (awealthofcommonsense.com)If you believe in stock market seasonality, pay attention. (trendlabs.com)FinanceETF industry average fees stopped falling in 2023. (etf.com)The companies that oppose share tokenization. (wsj.com)AIAnthropic is setting aside stock for public benefit. (axios.com)AI companies are writing off a lot of investments for tax purposes. (nytimes.com)Training AI models is the new gig work for professionals. (bloomberg.com)How AI agents could overrun shopping sites. (theatlantic.com)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)AppleWhy is Apple ($AAPL) neglecting the Apple TV? (sixcolors.com)Apple ($AAPL) is betting people want another screen in their homes. (daringfireball.net)A big profile of new Apple ($AAPL) CEO John Ternus. (time.com)How Apple