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Welcome to The Boston Newsletter!

In today’s edition:

• SoftBank 3D printer layoffs begin.

• Judon reveals disconnect leading trade.

• A deep-dive into the life of Charles Ponzi.

• And more…

Quote of the Week

"Who controls the past controls the future. Who controls the present controls the past."

– George Orwell

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Trivia

Here is your trivia question of the week. The answer will be shown in next week’s newsletter. Which do you think it is? No cheating!

In Boston, which historic library is known for its stunning architecture and vast collection of rare books and manuscripts?

A) The Boston Athenæum

B) The Boston Public Library

C) The Massachusetts Historical Society

D) Harvard Library

Answer to Last Week's Trivia:

The annual Boston film festival that showcases independent and international films is C) Independent Film Festival Boston.

News

💼 Business

'Not in the right roles:' SoftBank-backed 3D printer conducts layoffs. (link)

A closer look at the health systems trying to buy Steward's Mass. hospitals. (link)

🏒 Sports

Matthew Judon reveals 'biggest disconnect' with Patriots that led to trade. (link)

Jeremy Swayman still has ‘a lot of confidence’ in getting deal done with Bruins.(link)

🏦 Finance

General Motors mum on Boston impact of software layoffs. (link)

Upcoming Events

Here are some events that are happening in our city this week. There is a good mix between sports, entertainment, conferences, concerts, and more.

Sports

⚾ Boston Red Sox vs. Toronto Blue Jays
Fenway Park, Boston, MA
Thursday, Aug 29th | 7:10 PM | (More info)

Music & Concerts

🎸 Acoustic Live
Six String Grill & Stage 275 Patriot Place Foxboro, MA
Thursday, Aug 29th | 6:00 PM | (More info)

🎷 Don Felder
Lynn Auditorium, Lynn, MA
Thursday, Aug 29th | 8:00 PM | (More info)

Family

🔮 Art Class for Seniors
101 Riverside Ave, Medford, MA
Thursday, Aug 29th | 1:30 pm | (More info)

📚 The Story of An Artist Showcase
70 Sleeper St, Boston, MA
Sunday, Sep 1st | 5:00 pm | (More info)

Image of the Week

Every week, I have a habit of making some AI art about our city.

This week, I typed in “Urban landscape of Boston with a focus on pedestrian pathways and green spaces” and this is what I got.

Let me know what ideas you have for this. I really enjoy making these types of photos.

Boston Historical Events

Opening of the Prudential Tower (1964) - An43. Opening of the Prudential Tower (1964) - An iconic skyscraper that transformed Boston's skyline.

The opening of the Prudential Tower in 1964 marked a significant milestone in the transformation of Boston's skyline. Designed by Charles Luckman and Associates for Prudential Insurance, the iconic skyscraper stands at 907 feet tall, making it the second tallest building in the Boston city skyline. With its completion in 1964, the Prudential Tower became a dominant and distinguished landmark in Boston's historic Back Bay neighborhood, symbolizing the city's growth and modernization.

The Prudential Tower, with its 52 floors and 1.2 million square feet of commercial and retail space, has been an integral part of the Prudential Center complex. Its construction in 1964 not only added to the architectural landscape of Boston but also contributed to the city's economic and commercial development. The opening of the Prudential Tower represented a new era for Boston, showcasing the city's ambition and progress as a major urban center.

In recent years, the Prudential Tower has continued to attract visitors and locals alike, offering an open-top sightseeing tour bus for exploring the building and the surrounding area. The tower's observatory, known as View Boston, underwent a significant overhaul, providing visitors with wraparound views of the city from the top three floors of the Pru. The opening of View Boston in the Prudential Tower has further enhanced the building's appeal as a must-visit destination, allowing people to experience the breathtaking vistas of Boston's evolving skyline.

Famous People From Boston

Charles Ponzi – Swindler and namesake of the Ponzi scheme

Charles Ponzi: The Swindler Who Drove Boston Money Mad (1882-1949)

Charles Ponzi, also known as the namesake of the infamous Ponzi scheme, was an Italian swindler and con artist who operated in the U.S. and Canada. His schemes sent Bostonians into a frenzy over get-rich-quick promises, leading to his arrest and subsequent notoriety. Ponzi's life and legacy are marked by financial fraud, luxury, and legal troubles.

Early Life and Ambitions (1882-1903)

Born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi on March 3, 1882, in the town of Lugo, Italy, Ponzi grew up with dreams of wealth and success. His parents, Oreste and Imelda Ponzi, instilled in him a desire for a better life, which fueled his ambitions from a young age.

Immigration to the United States (1903-1917)

In pursuit of his dreams, Ponzi immigrated to the United States in 1903, arriving in Boston with hopes of finding prosperity and fortune. However, his early years in the U.S. were marked by financial struggles and a series of odd jobs that failed to fulfill his aspirations.

The Birth of the Ponzi Scheme (1917-1920)

It was during this time that Ponzi conceived the idea for the fraudulent investment scheme that would later bear his name. Promising high returns to investors, Ponzi's scheme captivated the people of Boston, driving them into a frenzy of excitement and investment.

The Boston Post Article and Rapid Expansion (1920)

On July 24, 1920, The Boston Post printed a favorable article on Ponzi and his scheme, which led to a rapid influx of investors. The overwhelming response to Ponzi's promises of wealth caused chaos in the streets of Boston, with enthusiastic investors flocking to his North End banking office.

Arrest and Legal Troubles (1920-1949)

Ponzi's fraudulent activities eventually caught up with him, leading to his arrest on August 12, 1920, and the subsequent legal proceedings. Charged with numerous counts of mail fraud and owing an estimated $7 million, Ponzi's downfall marked the end of his financial schemes and the beginning of his legal battles.

Luxurious Lifestyle and Legacy (1920s-1949)

Despite the legal troubles and financial ruin, Ponzi lived luxuriously, purchasing a mansion in Lexington, Massachusetts, and maintaining accounts in several banks. His name became synonymous with financial fraud, and the "Ponzi scheme" entered the lexicon as a cautionary tale of get-rich-quick schemes.

Key Achievements of Charles Ponzi:

• Conceived and operated the fraudulent investment scheme known as the Ponzi scheme.

• Captivated the people of Boston with promises of high returns, leading to a frenzy of investment.

• Lived a luxurious lifestyle, purchasing a mansion in Lexington, Massachusetts, and maintaining accounts in several banks.

Charles Ponzi's life story is one of ambition, financial fraud, and legal troubles, leaving behind a cautionary legacy of get-rich-quick schemes and the enduring notoriety of the Ponzi scheme.

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-Matthew Larsen

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