New Memoir In Pursuit of Glory Exposes the High-Stakes Journey to from Laborer to Executive Leadership in a Male-Dominated Industry

To the Editor: Roblox continues to show impressive growth in users and revenue, yet the company still faces significant financial challenges (" Roblox Isn't Playing Games. Why the Stock Could Jump 50%," Cover Story, Nov. 25). Despite strong gains in bookings, Roblox posted a large net loss for 2024 and expects a loss in 2025. I would be cautious. I'd let the kids under 17 play the game, but I'll just stay on the sidelines and watch for now.

Martin Blumberg Melville, N.Y.

Google's Other Antitrust Suit

To the Editor: Due to its recent artificial-intelligence successes, Alphabet's Google was mentioned favorably a couple of times in the latest issue, including in " Google Stock Has Been the Clear AI Winner — and the Gains Could Keep Coming" (Nov. 24). The stock has doubled since the spring on the news in September that the search antitrust case was resolved, and on unusually lenient terms. The judge specifically cited the potential for AI to disrupt Google's search monopoly as an excuse to avoid structural penalties. But there's another case out there, the "ad tech" antitrust case. Google has been found guilty of monopolistic behavior here, too, and this judge may be inclined to "correct" the unusually lenient penalties meted out in the first case, especially seeing how things are truly turning out with AI. Cards and dice may not have a memory, but judges and the public do.

Jim Hemenway Niwot, Colo.

To the Editor: Google has been an AI winner compared with Meta Platforms, right? That's not true, according to the figure depicting their respective, quarterly pretax GAAP income margins in percentages over the past seven quarters. Overall, Meta outperformed Google in five of the past seven quarters. Nevertheless, I put my money in Google.

Erik H. Schot Lauderdale-by-the-Sea, Fla.

Blue Owl's Warning

To the Editor: This is all seriously scary stuff (" Blue Owl Is Having a Rough Year. Its Co-CEO Says Investors' Fears Are 'Ungrounded,' " Interview, Nov. 20). Marc Lipschultz posits that either Blue Owl is mispriced, or the market is due for a serious reversal. If the latter is true, then Blue Owl Capital's troubles so far this year were, in retrospect, the canary in the coal mine.

Ralph Fisher On Barrons.com

Doing Nothing Is Hard

To the Editor: Trading less is rare but very sound advice (" Don't Just Trade Something, Sit There," The Striking Price, Nov. 26). Most of us are simply not equipped to be active traders. We don't have access to the information, and most aren't able to understand the trends, to be able to trade actively and profitably. Even the pros that have those advantages can't consistently beat the indexes.

Thus, traders are mostly rolling the dice with at best 50/50 odds of executing profitable trades. Those trading decisions are being mainly driven by emotions, the talking heads on TV, or news articles. Being a long-term buy-and-hold investor, and doing nothing, is harder. But over the long term, the odds of success are much higher.

David Feliciano On Barrons.com

Tax Code Changes

To the Editor: I wish Congress would stop changing the tax code every year or so (" Tax Rules Are Changing. What to Do Before Year End," Guide to Wealth, Nov. 25). In addition to being annoying, it makes planning for business and retirement difficult. Of course, the tax-prep industry loves it. The never-ending complexity forces more people to get help. Most people have real lives and don't want to spend a lot of time keeping up with the latest changes. It really is crazy what we put people through every year.

Walt Busalacchi On Barrons.com

Calling Out the Fed

To the Editor: Allianz Chief Economic Advisor Mohamed El-Erian is spot on in his assessment that the Federal Reserve was too late in responding to the inflation surge of 2021, that it was a "miracle" we avoided a recession, that the Fed continues to be late, and that its 2% inflation target is unrealistic and unnecessary (" The Bull's Wild Ride: What We Have Here Is a Worrywart Market," Up & Down Wall Street, Nov. 21).

Many economists are terrible at forecasting the future because they can't get the present correct. El-Erian is different. Why? He isn't solely an academic. El-Erian has decades of experience on Wall Street, understands Main Street, and has skin in the game. Experience is the greatest teacher. Academics hate that expression. Hopefully, it will all change come May.

Tom Verdi Providence, R.I.

Trump's Wins

To the Editor: I appreciated Christopher Smart's honest perspective on President Donald Trump's economic wins this year (" Trump's Record on the Economy Actually Has Wins. Ten Things to Be Grateful for This Thanksgiving," Nov. 21).

In today's climate of partisan politics, it was refreshing to read an objective analysis. Offering recognition to someone with whom you disagree is a lost art. Whether in investing or politics, focusing on facts while ignoring the noise remains the best approach.

Jonathan I. Shenkman West Hempstead, N.Y.

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