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Tuesday, 26 July 2022

Another Wolf of Wall Street clone + Nobel Prize couple put empathy in economics

???? ON THE TUBE TONIGHT-
(all times CLT)

The Wirecard scandal gets the Wolf of Wall Street treatment in Netflix’s King of Stonks: The 2020 Wirecard scandal — one of Europe’s biggest financial crimes — is getting its own little fictionalized retelling courtesy of Netflix. For those who watched Tiger King instead of keeping up with the financial papers, the scandal was very much Germany’s Enron moment: Wirecard — one of Germany’s biggest fintech and e-payments platforms — filed for insolvency after declaring that some EUR 1.9 bn went missing from its accounts, in a scandal that also engulfed major auditing firm EY. The Netflix original tries to take a light-hearted approach, and unlike the scandal it's based on, tries to give its nerdy and loveable protagonist a happy ending.

The subject matter, relation to Wirecard and actor Thomas Schubert are what really make the show bingeable. Otherwise, we’re thankful that it's only six episodes, as the show continues to follow the trend of financial scandal movies trying to imitate the Wolf of Wall Street, which by our count is probably the worst Martin Scorcese movie ever made (and Leo DiCaprio for that matter). Not a bad way to kill six hours if you’re traveling somewhere, but not something to bring the friends home or for repeat watching.

Want to learn more about the scandal and the protagonists’ real life counterpart? Bloomberg’s Quicktake has you covered (watch, runtime: 13:01).


Egyptian Premier League: At 6.30 pm, Ghazl El-Mahalla FC will play against Ceramica Cleopatra, while Al-Masry faces Eastern Company. Then at 9pm, Al-Ittihad Al-Sakandary will play against Enppi.

Fajr Friendlies: For the night owls out there, there are two friendly games worth checking out — Barcelona v Juventus at 2:30am, followed by Real Madrid vs Mexico’s Club América at 4:30am, as part of the teams’ preps for the new season.

???? EAT THIS TONIGHT-

Keeping with our German theme, we have Ralph’s German Bakery, which has landed in Arkan: The formidable bakery has opened up a new branch in Sheikh Zayed, bringing its signature fresh bread to Arkan Plaza’s extension every morning in every flavor, shape, and size. We were excited to see a make-your-own croissant sandwich option on their menu, but our buttery hopes and dreams were shot down when we tried to order it for breakfast — the waiter quietly informed us that their croissants would not be ready before noon. We hope this was a one-off and not a recurring policy. However, their full English breakfast plate and their Bavarian cherry noodles did not disappoint. Ralph’s German Bakery has more branches in New Cairo, Maadi, and Dahab

???? OUT AND ABOUT-
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Hop on Autobees El Sahra at CJC 610 tonight: Cairo Jazz Club’s popular Autobees El Sahra will be playing some of our favorite retro Arabic hits starting 9 pm, featuring DJunkie and a surprise guest appearance by a secret superstar.

If Latin music is more or your thing, Loca Latina is throwing a party tonight at Anzu Rooftop Lounge: Put on your dancing shoes as DJ Mana spins tunes that are bound to heat up the dance floor at the open air venue in Heliopolis.

Rock fans, there’s a little something for you too, tonight at Room New Cairo: Room Art Space & Cafe is hosting a rock night featuring live performances by two local bands: Arabic indie pop rock band Dabbet Namla and indie rock Taht El Sefr will both take the stage starting 9pm.

???? UNDER THE LAMPLIGHT-

Two Nobel Prize recipients get honest about the limitations of economics in Good Economics for Hard Times: Husband-and-wife team Abhijit Banerjee and Esther Duflo examine some of the most critical global issues we face today — climate change, inequality, and illegal immigration, to name a few. The MIT duo’s approach is equally humble and proud over the limits of economic theory as well as its significant contribution to our limited understanding. Banerjee and Duflo deconstruct various theories with data, and refute popular notions such as the idea that high taxes on wealthy people reduce their incentive to work hard and create new jobs. Ultimately, the book aims to “emphasize that there are no iron laws of economics keeping us from building a more humane world.”

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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