As Americans count their blessings, I count my paycheques



Americans gathered around the Thanksgiving dinner table yesterday to engage in two deeply American rituals: sharing their feelings and eating too much.

In between forkfuls of complex carbohydrates, many Americans at Thanksgiving - and my family is no exception - take turns telling their loved ones what, precisely, they're thankful for this year. The answers, as you can probably guess, are pretty mainstream: family, parents, children, shelter and food, love and companionship - you get the idea.

These aren't exactly lies, of course. It's a lovely ritual, and when you're gathered around a large dinner table with far-flung family members, it's always nice to have some structure to the conversation. And this year I mumbled the same platitudes along with everyone else. But what I didn't do was say what I'm really thankful for this year. I didn't tell anyone at the table my true answer to the question, "What are you thankful for?"

That's because the real answer is: money. And that doesn't sound right.

But it is. As a writer in Hollywood, there's really only one sure way to make sure everything is moving along smoothly, that the bank and the American Express card are going to get paid, and that your career is going in the right direction.

When I first came to Hollywood to be a writer, what I discovered was that every other writer I met seemed to be working on something, seemed to have some angle, some connection to someone important. Everyone I met seemed to be one or two steps away from greatness.

A movie star's personal assistant was passing a script along to an agent, or a powerful attorney needed a dog walker, and was willing to represent the writer in exchange for that daily service. And none of these things are bad, necessarily. Big Hollywood careers are often launched by sillier and more tenuous relationships.

But there is also another kind of relationship writers get sucked into. When they're young and desperate - or old and desperate - they often find themselves talking to one of the zillions of "production companies" that are all over the place. Go to any office building in Los Angeles and walk along the hallways - there are always mysterious office doors, dusty and untouched, with names on them like "Sedona Productions" or "All Seasons Media" or "Valley View Pictures" and it's never really clear what's going on inside there.

"There are three basic categories to these places," a wise old writer once explained years ago. "If they're on a studio lot, that's good. If they're in a real building, on Wilshire in Beverly Hills, that's OK. If they're anywhere else, be careful."

But it's hard, when you're starting out, to be careful. And so a lot of writers get caught up in a lot of low-rent relationships - a $1 option on a script by a producer with some access to Russian money, who wants a rewrite for free, say, or a producer who keeps wanting to meet in a Starbucks.

"How do you know you're really in business?" the wise old writer asked. "When someone calls for your Social Security or Tax ID number. Because that means that some accountant is about to cut a paycheque, and that accountant needs to prepare a W-9 tax form. Anything less than that - anything less - isn't worth getting excited about. Unless they want your tax information, you're still out of luck."

"Why is it always about money with you writers?" a studio executive once asked me, after I finished talking for several minutes about money.

Because money means they're serious. Look, if you're a writer, you just spent months (maybe years) writing something. You've already demonstrated that you're serious. But when someone starts giving you money, that means that they're serious too, which means now there are two serious people on the team. Which is a lot less lonely.

Money, to a writer, means companionship. It means company. When they give you money for something you've written (or, if you're lucky, something you've just promised to write) the world is a lot less cold, and the solitary job of writing is suddenly not so solitary. It's more … social. Which is why when they call and ask, "What's your tax ID number?" it's hard not to get emotional. And thankful.

I didn't say that at the Thanksgiving table, of course. But I thought it. And I was silently, privately thankful for another year of phone calls from studio accountants. I know they won't last forever.

Rob Long is a writer and producer based in Hollywood

Bullet Train

Director: David Leitch
Stars: Brad Pitt, Aaron Taylor-Johnson, Brian Tyree Henry, Sandra Bullock
Rating: 3/5

History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

THE SWIMMERS

Director: Sally El-Hosaini

Stars: Nathalie Issa, Manal Issa, Ahmed Malek and Ali Suliman 

Rating: 4/5

How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Kill Bill Volume 1

Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5

The Two Popes

Director: Fernando Meirelles

Stars: Anthony Hopkins, Jonathan Pryce 

Four out of five stars

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Blue Beetle

Director: Angel Manuel Soto
Stars: Xolo Mariduena, Adriana Barraza, Damian Alcazar, Raoul Max Trujillo, Susan Sarandon, George Lopez
Rating: 4/5 

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

US PGA Championship in numbers

1 Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.

2 To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.

3 Number of seasons without a major for McIlroy, who finished in a tie for 22nd.

4 Louis Oosthuizen has now finished second in all four of the game's major championships.

5 In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.

6 For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.

7 Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.

8 Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.

9 Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.

10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.

11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.

12 Paul Casey was a combined 12 under par for his first round in this year's majors.

13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.

14 The world ranking of Justin Thomas before his victory.

15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.

16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.

17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.

18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).

'Doctor Strange in the Multiverse Of Madness'

Director: Sam Raimi

Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams

Rating: 3/5

THURSDAY'S FIXTURES

4pm Maratha Arabians v Northern Warriors

6.15pm Deccan Gladiators v Pune Devils

8.30pm Delhi Bulls v Bangla Tigers

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

The 12 breakaway clubs

England

Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Tottenham Hotspur

Italy
AC Milan, Inter Milan, Juventus

Spain
Atletico Madrid, Barcelona, Real Madrid

How England have scored their set-piece goals in Russia

Three Penalties

v Panama, Group Stage (Harry Kane)

v Panama, Group Stage (Kane)

v Colombia, Last 16 (Kane)

Four Corners

v Tunisia, Group Stage (Kane, via John Stones header, from Ashley Young corner)

v Tunisia, Group Stage (Kane, via Harry Maguire header, from Kieran Trippier corner)

v Panama, Group Stage (Stones, header, from Trippier corner)

v Sweden, Quarter-Final (Maguire, header, from Young corner)

One Free-Kick

v Panama, Group Stage (Stones, via Jordan Henderson, Kane header, and Raheem Sterling, from Tripper free-kick)

SERIES INFO

Cricket World Cup League Two
Nepal, Oman, United States tri-series
Tribhuvan University, Kathmandu
 
Fixtures
Wednesday February 5, Oman v Nepal
Thursday, February 6, Oman v United States
Saturday, February 8, United States v Nepal
Sunday, February 9, Oman v Nepal
Tuesday, February 11, Oman v United States
Wednesday, February 12, United States v Nepal

Table
The top three sides advance to the 2022 World Cup Qualifier.
The bottom four sides are relegated to the 2022 World Cup playoff

 1 United States 8 6 2 0 0 12 +0.412
2 Scotland 8 4 3 0 1 9 +0.139
3 Namibia 7 4 3 0 0 8 +0.008
4 Oman 6 4 2 0 0 8 -0.139
5 UAE 7 3 3 0 1 7 -0.004
6 Nepal 0 0 0 0 0 0 0
7 PNG 8 0 8 0 0 0 -0.458

How to come clean about financial infidelity
  • Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
  • Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help. 
  • Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
  • Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
  • Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported. 

Carol Glynn, founder of Conscious Finance Coaching

The Last White Man

Author: Mohsin Hamid 

192 pages 

Published by: Hamish Hamilton (UK), Riverhead Books (US)

Release date: out now in the US, August 11 (UK)

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

2018 ICC World Twenty20 Asian Western Regional Qualifier

The top three teams progress to the Asia Qualifier

Final: UAE beat Qatar by nine wickets

Third-place play-off: Kuwait beat Saudi Arabia by five runs

Table

1 UAE 5 5 0 10

2 Qatar 5 4 1 8

3 Saudi 5 3 2 6

4 Kuwait 5 2 3 4

5 Bahrain 5 1 4 2

6 Maldives 5 0 5 0

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.