Dear Readers,
It’s Thinking Time! Buckle up for a quick recap of global events. This week, we turn our focus on American aviation company Boeing and its attempts to right its course after years of turbulence. (This introduction has inadvertently had too many references to flying. I will do better for the rest of our journey together, so please, sit back and enjoy the ride—sorry, last one).
TBL Thinks is our way to summarize the most important paywalled, longer reads relevant to global macroeconomics, helping you cut through the noise. With that in mind, please enjoy.
This extended $75k–$110k range has caused some to wonder if the bull run is exhausted. But what if the on-chain evidence tells a totally different story? Join James Check (Checkmate of Checkonchain) and Connor Dolan for a data-driven discussion on what a maturing bitcoin market means for the road ahead. James will break down:
Institutions reshaping the cycle: ETF flows and institutional allocator demand setting higher floors
Chopsolidation: why time-pain in the $75k–$110k range signals resilience, not exhaustion
Conviction on display: heavy distributions absorbed while long-term holders remain in control
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If It’s Boeing, Should I Even Be Going?
Boeing is back in the news, but this time, thankfully, it’s for good reason. The company is working on a replacement for its infamous 737 MAX airplane. Boeing suffered a pivotal loss in market share to rival Airbus after the 737 MAX was mired with safety and quality issues and two devastating crashes in 2018 and 2019. WSJ writes that “Boeing’s plans represent a shift for the company, which had put some new aircraft development work on the back burner while it navigated multiple challenges.” CEO Kelly Orteg (appointed in 2024) has not publicly detailed any plans for a 737 successor but has maintained that “fixing Boeing’s long-running quality and manufacturing problems, and shoring up its balance sheet, are his priorities.”
Bloomberg writes that with the new airplane, Orteg has the unique opportunity to restore Boeing’s standard of excellence; one that sank to new lows after the 737 MAX fiasco — Boeing is still struggling to certify the MAX 7 and MAX 10 versions of the aircraft, as well as the new model of the wide-body 777. WSJ reports that Boeing is in talks with Rolls-Royce for the engine of the new aircraft, adding that any deal with Rolls-Royce would mark a major change for Boeing, which has for the last 40 years used engines from CFM International (a JV between GE Aerospace and Safran Aircraft Engines) for its 737 narrow-body planes. Building an all-new airplane, called a clean-sheet design, can take upwards of a decade and cost billions of dollars, with manufacturers looking for at least 15-20% fuel burn improvement.
The Atlantic wrote a brilliant article on the rise and fall of Boeing, with a particular sentence capturing the essence of Boeing’s decline over the years — calling it the “peculiar story of a plane maker that, over 25 years, slowly but very deliberately extracted itself from the business of making planes.”