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I spent a good portion of my life thinking that opportunities are supposed to fall into your lap magically. We’ve heard the romanticized stories about exactly that. In my recent TEDx, I talked about how actress Charlize Theron was upset at a bank when she first moved to from Johannesburg because she couldn’t access her bank to withdraw money. Hollywood manager John Crosby happened to be in the bank at the same time. He saw her throw her fit and signed her on the spot. 

Or, equally as serendipitous: Mandy Moore was working on her music at a studio in Orlando when she was 13, and a delivery man overhead her singing. He sent her record to his friend at Epic Records, and that’s how she got her start.

But here’s the issue with stories like these: We hear them enough that we begin to believe that someone is

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The salty sea breeze blows through the air; excited screams echo as the roller coaster drops; the warm, sugary scent of funnel cake lingers on the boardwalk. Summer is here at the shore, but with a few modifications to follow CDC guidelines. Photographer Gabby Jones set out to the Jersey Shore during the Fourth of July weekend, finding some large differences between towns as the state’s reopening was in full swing.

Since July 2, outdoor amusement parks, outdoor waterparks, playgrounds, and libraries have been allowed to reopen. But with big crowds flocking to the shore to the enjoy the holiday weekend, some towns did better than others to enforce social distancing rules, Jones tells Fortune

“Towns which were an hour driving distance from each other felt like polar opposites,” Jones, a New Jersey native, says.

Many beach towns along the coast are figuring out what the new normal will be when customers return. While Ocean City officials handed out goody bags to families wearing masks, Jones described the vast majority of visitors at Wildwood not wearing …

Remember when analysts and economists were saying we’d see a V-shaped recovery? They may be rethinking that thesis now.

There are early indicators that the recovery, which quickly gained traction as states started reopening, may be losing steam as cases continue spike across the country.

New cases of the coronavirus have skyrocketed in recent weeks, hitting a record of roughly 60,000 new cases on July 9. Big states like Texas, Florida, and California, are now battening down the hatches once more, by reimposing restrictions for bars, restaurants, beaches, and more. But cases of the virus are now on the rise in many states.

Moody’s Mark Zandi recently told Fortune there’s a “zero chance” of a V-shaped recovery now.

Instead, another shape may be, well, taking shape.

Deutsche Bank senior U.S. economist Brett Ryan was among those who predicted a “reverse square root symbol” shaped recovery months ago.

“This speaks to what we’ve been saying for a long time, which is that this is not going to be a straight line, lock-step recovery, up and up and up. It’s going to have some bumps along the road,” Ryan tells Fortune. Indeed, Ryan told Fortune in

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U.S. banks had only a few weeks’ experience with the full-blown pandemic when they last tried to forecast how bad things would get. Now, they’re about to reveal what three more months of Covid-19 did to the industry.

Second-quarter results, set for release next week, will probably show that the trends that took hold at the start of the year only intensified: surging provisions for loan losses and slumping consumer spending, with trading gains helping some banks weather the storm.

“We’ve got a full three months of the pandemic coming through the numbers now,” Kyle Sanders, an analyst at Edward Jones, said in an interview, adding that the second quarter was probably the worst for bank earnings since the financial crisis. “The first quarter was rough, but it really only reflected a couple of weeks in March.”

Soaring unemployment left many consumers unable to pay back their debts or take on new borrowing, forcing banks to set aside more to cover souring loans and crimping their net interest income. At the same time, nationwide stay-at-home orders left once-bustling downtowns and …

Dr. Scott Gottlieb told CNBC on Friday he believes there continues to be a significant number of unreported coronavirus cases in the U.S., suggesting as many as 1 in 150 people in the country could be infected. 

“We must have well over 700,000 infections a day, even though we’re only diagnosing about 60,000,” Gottlieb said on “Squawk Box.” “Before, when we had come down, and we were sort of burning around 20,000 diagnosed infections a day, the conventional wisdom was the prevalence was 1 in 200 people. Now, it must be higher than that.”  

Gottlieb’s comments come as the U.S. continues to report record, or near record, levels of daily new coronavirus infections. While the increase can be partly attributed to added testing capacity, the overall rate of positive tests in the country also is increasing. That is an indication of growing community spread. 

“It’s going to be hard to get to a point where you could — you’re not going to eliminate the infection — but get it down to levels that are much, much lower,” said the former commissioner of the Food and Drug Administration. “The prevalence of actual infection in the country right now must be