We’ve got some content lined up for early next week, but this will be the last Further Reading of 2025, so it’ a bumper edition. See you all in 2026 (and remember to sign up to our newsletter).

Elsewhere on Friday . . . 

— Blackstone’s 2025 holiday video is out (YouTube)

— Asymmetry is all you need (The Terminalist)

— The Bank Underground Christmas Quiz 2025 (Bank of England)

— The Trump Family Business Empire Is Growing. We Mapped Out 268 Pieces of It (WSJ)

— When AI comes to town (Sherwood)

— There are no shortcuts to affordability (Stay-At-Home-Macro)

— The lost generation (Compact)

— Artificial intelligence and systemic risk (European Systemic Risk Board)

— How getting richer made teenagers less free (The Argument)