The Pittsburgh Newsletter
Posts
Pittsburgh Newsletter (October 21st)

Pittsburgh Newsletter (October 21st)

Here are the latest news stories and upcoming events in Pittsburgh.

October 21, 2024

Quote of the Week

"A journey of a thousand miles begins with a single step."

— Lao Tzu

Banks invest in surprising $2.1tn asset class

Bank of America. UBS. J.P.Morgan. They’re all building (or have built) investments in one $2.1tn asset class (UHNWIs’ art & collectible wealth); but it’s not what you think. Not AI equities or crypto, but art. Why? Certain segments’ appreciation have outpaced traditional investments. Take blue-chip contemporary art - even with the market slowdown, it’s still outpaced the S&P by 64% over a longer horizon (‘95-‘23).

Masterworks has given 65,000+ investors the opportunity to invest in this unique asset class. From 23 exits so far, investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5% among assets held over one year.

Investing involves risk. Past performance not indicative of future returns. See Important Regulation A disclosures at masterworks.com/cd.

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!

What industry was primarily responsible for Pittsburgh's growth and wealth in the 19th and early 20th centuries?

A) Automobile

B) Steel

C) Coal

D) Glass

Answer to Last Week's Trivia:

The famous funicular in Pittsburgh is C) Duquesne Incline.

News

💼Business

Chicago firm puts prime office warehouse redevelopment in the Strip up for sale. (Link)

Diane Hupp named chair of Duquesne University Board of Directors. (Link)

🏒Sports

Tom Brady's minority stake in the Las Vegas Raiders approved by NFL owners. (Link)

USGA accepting applications for Pathways Internship Program at next year's U.S. Open at Oakmont Country Club. (Link)

🏦Finance

Governor Shapiro discusses AI policy, Elon Musk and more at AI Horizons Summit. (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

🏈 Syracuse Orange at Pittsburgh Panthers Football
Acrisure Stadium, Pittsburgh
Thursday, Oct. 24th | 7:30pm (More info)

🏒 Niagara Purple Eagles at Robert Morris Colonials Men's Hockey
Robert Morris University Island Sports Center, Pittsburgh
Friday, Oct. 25th | (More info)

Music & Concerts

🎶 Inhaler
Roxian Theatre, Pittsburgh
Monday, Oct. 21st | (More info)

🎤 Ken Carson
Stage AE, Pittsburgh
Tuesday, Oct. 22nd | (More info)

Family

📚 Weekly Storytime
2892 West Liberty Avenue, Pittsburgh
Thursday, Oct. 24th | (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 “High-tech urban farm towers and green rooftops in Pittsburgh” and this is what I got.

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

Pittsburgh Historical Events

1852: The Pennsylvania Railroad is opened, connecting Pittsburgh with the East Coast.

In 1852, a significant milestone in Pittsburgh's transportation history was achieved with the opening of the Pennsylvania Railroad, connecting the city with the East Coast. The Pennsylvania Railroad was incorporated on April 13, 1846, with a franchise permitting the construction of a railroad across the state from Harrisburg to Pittsburgh. This development marked a crucial moment in Pittsburgh's growth as a major transportation hub, linking the city to the bustling East Coast and expanding its economic reach.

The completion of the Pennsylvania Railroad in 1852 facilitated the movement of goods, people, and ideas between Pittsburgh and the East Coast, opening up new opportunities for trade, commerce, and cultural exchange. The railroad's connection to the East Coast allowed Pittsburgh to strengthen its position as a vital center of industry and commerce, further solidifying its role in the regional and national economy. The Pennsylvania Railroad's impact on Pittsburgh's development was profound, shaping the city's growth and contributing to its emergence as a key player in the industrial and transportation landscape of the United States.

The Pennsylvania Railroad's opening in 1852 marked a transformative moment in Pittsburgh's history, laying the foundation for the city's future as a major transportation and economic powerhouse. This pivotal connection to the East Coast through the railroad network played a crucial role in shaping Pittsburgh's identity and influence, positioning the city as a vital link in the nation's transportation infrastructure and economic network.

Famous People From Pittsburgh

Billy Strayhorn (1915–1967): Jazz composer, pianist, and arranger.

Billy Strayhorn, a renowned jazz composer, pianist, and arranger, left an indelible mark on the world of music with his innovative compositions and collaborations. Born on November 29, 1915, in Dayton, Ohio, Strayhorn's musical journey began in Pittsburgh, where he honed his skills and developed his unique style. His life and career are a testament to his exceptional talent, unwavering passion for music, and enduring legacy.

Early Life and Musical Education (1915-1934)

William Billy Thomas Strayhorn was born on November 29, 1915, in Dayton, Ohio, and moved with his family to a humble homestead in Homewood, Pittsburgh, during the early 1920s. It was in Pittsburgh that Strayhorn's musical journey began, as he learned to play the piano and immersed himself in musical studies while attending Westinghouse High School. His early exposure to music and the vibrant cultural scene in Pittsburgh laid the foundation for his future accomplishments in the world of jazz.

Musical Genius and Collaboration with Duke Ellington (1935-1940)

Strayhorn's talent and passion for music caught the attention of jazz legend Duke Ellington, leading to a collaboration that would define his career. His innovative compositions and arrangements, such as Take the 'A' Train, became synonymous with the Duke Ellington Orchestra and contributed to the evolution of jazz music. Strayhorn's unique musical voice and creative partnership with Ellington solidified his status as a jazz luminary.

Harlem Renaissance and Musical Legacy (1941-1950)

During the Harlem Renaissance-era in New York, Strayhorn's musical genius continued to flourish, and his contributions to the jazz scene became increasingly recognized. His compositions, characterized by their sophistication and emotional depth, resonated with audiences and fellow musicians alike. Strayhorn's impact on the evolution of jazz music during this period was profound, cementing his place in the annals of musical history.

Personal Life and Civil Rights Involvement (1951-1960)

Beyond his musical achievements, Strayhorn was openly gay and heavily involved in the Civil Rights Movement. His advocacy for equality and social justice mirrored his commitment to artistic expression, making him a multifaceted figure in both the music and social spheres. Strayhorn's personal and professional life intersected in meaningful ways, reflecting his dedication to using his platform for positive change.

Legacy and Posthumous Recognition (1961-1967)

Following Strayhorn's passing in 1967 from esophageal cancer, his legacy continued to inspire future generations of musicians and music enthusiasts. His influence on jazz music endured, and his compositions remained timeless classics. Pittsburgh, the city where Strayhorn's musical journey began, has made efforts to honor his memory, including the establishment of the Kelly Strayhorn Theater in East Liberty, a testament to his enduring impact on the local arts scene.

Key Achievements of Billy Strayhorn:

Renowned jazz composer, pianist, and arranger, known for his innovative compositions and arrangements.
Collaborated with Duke Ellington, contributing iconic pieces such as Take the 'A' Train to the Duke Ellington Orchestra.
Played a significant role in the evolution of jazz music during the Harlem Renaissance-era in New York.
Actively involved in the Civil Rights Movement and advocated for equality and social justice.
Posthumously honored with the establishment of the Kelly Strayhorn Theater in Pittsburgh, reflecting his enduring legacy in the local arts community.

Billy Strayhorn's life and career exemplify the transformative power of music and the enduring impact of artistic expression. His legacy as a musical pioneer and advocate for social change continues to resonate, leaving an indelible mark on the world of jazz and the cultural landscape of Pittsburgh.

Connect With Me

If you want to connect, reply to this email and let me know what you think.

I would love to hear from you. Don’t be shy.

-Matthew Larsen