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◼ CONTENTS Bloomberg Businessweek June 29, 2020

Cover:
Photographby
IkeEdeanifor
Bloomberg
Businessweek AIRBNB: PHOTOGRAPH BY RYAN YOUNG FOR BLOOMBERG BUSINESSWEEK

◼INBRIEF 4 Bayersettles● Merapierupts● KurtCobain’sguitar
◼OPINION 5 Goodstartonstimulus.Here’swhatshouldcomenext
◼AGENDA 5 GermanysteerstheEU● Daimler● ExtendingBrexit

◼REMARKS 8 Covid-19couldn’tbreakChina.TheU.S.shouldworry

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BUSINESS 12 JusthowdidWirecardmanagetomisplace$2billion?
14 Raciallyinsensitivebrandingis aliveandwellin Asia

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TECHNOLOGY 16 Appleplayssomeseriousgameswithreality
18 HowWeWorkfoundered,fromsomeonewhowasthere
19 ▼Airbnbtalksthetalkondiversity,but...

21 Kayak’sSteveHafneronkeepingbothfeetontheground

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PERSONAL 22 BerkshireHathawayis huge,butwhatexactlyis it?
FINANCE 24 Privateequityfindsa wayintoyour401(k)
25 Asinvestorsrakeit in,racialandeconomicinequalitysoar
27 Religion-basedETFsaimtokeepthefaith

ECONOMICS 28 Whathastohappentogetentrepreneurshipgoingagain
32 A surprisinguptickin startups.Butnoteverywhere

POLITICS 34 IncumbentBiden.ChallengerTrump.Strangetimes
36 A landrushbodesill forPalestinianindependence

◼PURSUITS 57 Thestorybehindeightlife-changingtrips
58 Travelingwithkidsgivesparentsa lessonin resilience
58 A Trans-SiberianRailwayrideplotsa lifelongjourney
60 Aboriginalartistsplanta dreamin a writer’smind
62 Ona bicyclebuiltfortwo,for7,800miles
63 What’svisible—ornot—intheGreatPacificGarbagePatch
64 Thesearchfora raretigerleadstoanethosforlife
65 A brokenrelationshipis onethingtravelcan’tfix
66 Whenit comestoIran,don’tbelieveeverythingyouread

◼LASTTHING 68 Overseascluesaboutpent-upU.S.demand

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◼ COVER TRAIL
How the cover
getsmade

“This week we’re talking
about LeBron James
and his new company
with Maverick Carter.
They got $100 million
from some big-time
investors.”
“Soooo, you could say
it’s another grand slam
for King James?”
“Wrong sport, but sure,
the metaphor holds.
Also, they’ve agreed to
a shoot.”
“We’ll make sure not to
fumble this one.”
“Not a sports fan,
are you?”
“Does ultimate Frisbee
count?”