Twitter Board Got Thanos Snapped
The ECB has no plans to stop raising rates, US job openings rose by 437k in September, US Treasury sold $979M in Series I bonds, an FCC commissioner said the US should ban TikTok, Elon Musk temporarily dissolved Twitter's board, Tesla will start mass producing Cybertrucks at the end of 2023, and Credit Suisse is pushing ahead with its China expansion.
Vine's Comeback Tour
Musk is bringing Vine back, Eurozone inflation hit 10.7% in October, the Great Resignation is cooling off, Biden wants more US oil production and less "windfall profits" (whatever that means), Swiss National Bank lost $143B YTD through September, Twitter will lay off 25% of its staff, Delta pilots voted to authorize a strike, and the FTC ordered Chegg to improve its security.
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Halloween Hitting Twitter HQ Different
Golden parachutes for fired Twitter execs could reach $122M (unless Elon voids them), ExxonMobil made ~$20B in profits last quarter, pending home sales keep falling, US natural gas prices are down 40% from August, Brazil's leftist former president just got reelected, and GM temporarily suspended advertising on Twitter.
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FUNDING SECURED
Elon Musk completed the $44B Twitter buyout and fired a handful of execs, the ECB raised rates to highest level since 2009, Putin doesn't plan to use nukes in Ukraine, fossil fuel consumption will likely peak this decade, and Tesla's Model Y topped new European registrations last month.
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Meta Gets Clapped
Meta fell 20% after hours on poor earnings, mortgage rates are over 7%, US auto sales are on track to rise in October, Rishi Sunak is committed to banning fracking, banks are starting to fund their debt commitments for the Twitter deal, and the DOJ is probing Tesla over self-driving claims.
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🚨EXEC SUM 200K🚨
Musk expects the Twitter deal to close by Friday, Apple is cracking down on NFTs, oil companies are making bank, Amazon will accept Venmo, Kanye West is no longer a billionaire and getting canceled at an accelerating rate, and house prices are cooling at record rates.
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Chinese Stocks in Freefall
Rishi Sunak will be the new UK Prime Minister, US and Euro zone business activity is contracting, China's GDP grew at a faster-than-expected rate in Q3, Chinese stocks tanked as Xi has an iron grip on the country, Apple raised its Apple TV+ and Apple Music prices, Tesla cut car prices in China, and TikTok denied that it could track user locations in the US.
Boris Johnson Pulled Out
Boris Johnson pulled out of the UK PM race, retail investors are down bad in 2022, Xi Jinping is back for another term in China, US firms are seeing a mass exodus of CFOs, Japan is buying $30B more yen, Goldman is doubling down on wealth management, and Facebook threatened to block news content in Canada.
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Truss Exits at 4.1x Scaramucci multiple
Liz Truss set the record for shortest UK PM tenure, Musk plans to layoff 75% of Twitter's staff, China is scrambling to deal with chip sanctions, Snap's stock fell 25% on a poor earnings report, home sales keep declining, college enrollment is down for the third straight year, Turkey slashed interest rates despite high inflation, and Biden said he would refill the US's strategic oil reserves when oil prices fall below $72.
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Messi Making Money Moves
Lionel Messi launched an investment firm targeting sports / sports-tech investments, UK inflation is double digits again, $13B in SPAC deals have been liquidated this year, weed will be sold in select US gas stations next year, startups are taking on debt to avoid valuations hits, and VCs are FOMO'ing into AI deals.
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