Campus protests are making noise, not change

More tents doesn't equal success. [Bloomberg]( This is Bloomberg Opinion Today, a temporary structure of Bloomberg Opinion’s opinions. [Sign up here](. Today’s Agenda - College protests are [full of rage](. - This is Lithuania’s [golden age](. - Potatoes face a [water-logged plague](. - Online financial advice [isn’t sage](. The Nut Zone Failed “Were the [snipers]( on the [rooftop]( really necessary?” That was my first question when [reading about]( the protests at my alma mater over the weekend. In the span of three days, Indiana [State Police](arrested over 50 pro-Palestine protesters at Indiana University, Bloomington. Curiously, those arrests wouldn’t have been possible without a [last-minute change]( to a 55-year-old campus policy around the use of “temporary structures.” Which, let’s be real, we’re talking about a bunch of [tents]( from Walmart. Regardless of whether you agree with the politics of the pro-Gaza [encampments]( that have cropped up on at least 50 US universities, you have to admit that they’ve generated a lot of noise. We’ve seen over [1,000 arrests](. Open letters from [faculty](. Excellent [student journalism](. Canceled [graduation]( ceremonies. [Votes]( of [no confidence](. Poetry [readings](. And don’t forget the designated “[nut zones](.” But despite all those things, the protestors have not accomplished their stated goal of divestment from Israel. And they likely never will, says Stephen Carter. “This isn’t a conclusion I reach lightly,” he [writes]( (free read). Just this morning, Columbia University President Minouche Shafik [sent an email]( to the community saying the university “will not divest from Israel,” after negotiators “were not able to come to an agreement.” The administration also sent [a notice]( to the encampment, giving the students there a 2 p.m. [deadline]( to leave or face immediate suspension, a deadline many protestors — including some [staffers]( — chose to [ignore](: “The decisions at Columbia and Yale and elsewhere to arrest protesters and clear their encampments by force has led to demonstrations at other schools. This activism cascade supports the contagion theory used by many social scientists to explain how protests jump from place to place,” Stephen writes. “But the fact that demonstrations spread does not imply that activists will achieve their goals. So far, there’s little evidence that the Gaza protests or the efforts by universities to restore order are building support for the cause.” Read [the whole thing]( for free. A Baltic Success Story Lithuania is somewhat of a late bloomer. Having been conquered by Stalin, Hitler and then Stalin again during the Second World War, it’s taken the nation a minute to recover from the collapse of the Soviet Union. But Adrian Wooldridge, who visited the Baltic region recently, [says]( “the country is no longer playing catch-up with the West.” Today, Lithuania’s GDP is 90% of Europe’s average, and the most recent [World Happiness Report]( found that Lithuania’s young people are some of the happiest on Earth. Perhaps that has to do with the fact that the country is producing world-class companies, including Vinted, a secondhand fashion app where people can purchase pre-loved clothes, shoes, and accessories. “Vinted has some 16 million users in Britain alone, as any visit to, say Tesco, where people queue up to process their Vinted parcels, will testify,” Adrain writes. No wonder the recycling giant [reported]( a 61% rise in sales this morning — the first-ever recorded profit in the company’s history. But Vinted’s business wouldn’t have been possible without the “the resolute behavior of two institutions,” Adrian explains. “The European Union provided obvious benefits such as aid to rebuild the country’s decaying infrastructure and access to one of the world’s biggest markets ... NATO provided security in one of the world’s most dangerous regions.” Combined, the two allowed Lithuania to build a high-tech economy, even in the face of Putin’s war machine. It’s a model that Adrian thinks Ukraine would do well to replicate. Plus, Lithuania has [kepta duona](! For the uninitiated, that’s [fried sticks of bread](, smothered in garlic and cheese. What’s not to like? Bonus Wartime Reading: A new age of dictators demands a stronger [democratic response](. Europe needs to be on a full war footing. — Martin Ivens The [Sogflation]( Effect I’ve [said it before]( and I’ll say it again: On the list of Cool Stuff You Can Do While You’re Alive, creating a word is pretty high up there. And Lara Williams is up to the task. In her new column, she [coins]( the term “sogflation,” which is exactly what it sounds like: The phenomenon of rising food prices caused by extreme precipitation. A new [report]( found that Europe had one of the [wettest periods on record]( last year, receiving 7% more precipitation than the 1991-2020 average, with 1.6 million people affected by flooding. “It doesn’t take a horticulturalist to understand that waterlogged fields aren’t conducive to a productive harvest or plentiful seed-planting,” Lara writes. And Mr. Potato, who didn’t have a poncho on hand, got caught in the eye of the storm: Because potatoes can only be planted and harvested once each year, there’s little room for mishaps. Last autumn, poor weather conditions forced Europe to stop harvesting after less than a month, Lara explains. “Europeans eat among the highest quantity of potatoes per capita of any region in the world — about 90 kilograms on average a year,” she writes. “Netherlands and Belgium — two key regions that grow processing potatoes for fries — were the worst affected.” Now, spud shortages loom. Bonus Climate Reading: - Climate change is costly. [Avoiding it]( will save taxpayers money. — Bloomberg’s editorial board - There’s [no scenario]( out there where global plastics use doesn’t increase dramatically. — David Fickling Telltale Charts Word on [the street]( is that the owner of De Beers is looking pawn off its storied diamond unit. “Like marketing a stone without the requisite color or clarity, this wouldn’t be an easy sell,” Andrea Felsted [writes](. “Prices for rough diamonds have plummeted since a pandemic-driven boom, while man-made stones are revolutionizing the industry.” How much money do you need in your nest egg? On one (rather morbid) hand, Merryn Somerset Webb says you [might die]( sooner than you think. On the other (less morbid, but honestly scarier) hand, Erin Lowry says you [might run out of money]( before you die. So why take the risk? If you’re currently relying on social media to build your retirement plan, you might want to rethink your strategy. “Millennials and Gen Z would be better off speaking with a professional to assess their strategy instead of turning to the internet, which is fine for recommendations on [which water bottle]( to buy but not great for free investment advice,” Erin writes. Further Reading The economics of a [Paramount Global acquisition]( are simple but tricky. — Matt Levine Whoever ends up running [Norfolk Southern]( will be caught in a trap. — Thomas Black Learning loss [was a problem]( even before the pandemic. — Matthew Yglesias Jack Smith may have to try Trump on [fewer charges]( or not at all. — Noah Feldman Tennessee’s [union vote]( forced a reckoning for the GOP. — Mary Ellen Klas The latest Iran-Israel strife is throwing out [a lifeline]( to shippers. — Tim Culpan Companies are vying to [end the organ shortage]( by growing alternatives in pigs. — Lisa Jarvis ICYMI The Fed’s [next move](. The cocoa price [comedown](. Elon Musk gets [rejected]( and [approved](. [Barry’s Bootcamp]( considers a sale. Bumble is getting [a makeover]( tomorrow. Blade is betting on the [luxury coach]( business. Kickers What’s the [perfect level]( of fame? The “[vampire facial](” is an HIV risk. The [NYC cheeseball man]( can do [no wrong](. [Stagecoach]( is [Lord of the Flies]( for influencers. Hermès [and]( Peppa Pig? Gen Z [contains multitudes](. Someone accidentally [shipped their cat]( to Amazon. (h/t Andrea Felsted) Notes: Please send a big barrel of cheese balls and feedback to Jessica Karl at jkarl9@bloomberg.net. [Sign up here]( and follow us on [Threads](, [TikTok](, [Twitter](, [Instagram]( and [Facebook](. Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before it’s here, it’s on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can’t find anywhere else. [Learn more](. Want to sponsor this newsletter? [Get in touch here](. You received this message because you are subscribed to Bloomberg's Opinion Today newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. 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