- Exec Sum
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- Page 51
Archive
Goldman Sacks
Markets were up big on Friday, US VC funding fell 31% in 2022, Goldman is cutting 3,200 jobs this week, world food prices rose by 14.3% to a record high in 2022, Jack Ma will relinquish control of Ant Group, Salesforce aims to cut costs by $3-5B, Twitter made further staff cuts to its global content moderation team, and Vince McMahon will return to WWE's board.
Negative-Yielding Bonds No More!
Tech firms are leading the charge with job layoffs, the amount of global negative-yielding bonds has been reduced to ~$0, the FTC proposed banning non-compete clauses in employment contracts, Canada banned foreigners from buying homes in the country, Citadel posted record revenues, Southwest is facing a $1B revenue hit, hackers stole the email addresses of 200M+ Twitter users, and Putin ordered a temporary ceasefire to observe Orthodox Christmas.
AI Search Browser
Microsoft will incorporate ChatGPT into Bing, France inflation fell, the Fed plans to slow rate hikes, Manhattan home prices fell for the first time since 2020, GM led US auto sales, Roku launched its own TV brand, Ireland fined Meta $419M, and Ryanair hiked its full-year profit forecast.
Tesla Market Cap Declined by One Twitter
Tesla lost one Twitter in market cap, Apple's valuation fell below $2T, Croatia adopted the euro, ByteDance cut hundreds of jobs in China, Japan is paying people to move out of Tokyo, The University of California invested in BREIT, and SpaceX is raising $750M.
New Year, New Markets (Hopefully)
Stock and bond markets lost $30T in 2022, hedge funds had their worst year since 2008, Europe natural gas prices hit pre-Ukraine war levels, JPM is getting sued by the US Virgin Islands, Russia is now one of China's leading oil and gas suppliers, Southwest expects its holiday meltdown to impact Q4 results, Fidelity slashed its Twitter valuation by 56%, and Kim Jong Un wants more nukes.
Andrew Tate Played Himself
Andrew Tate got arrested in Romania, Biden signed the $1.7T FY 23 government spending bill into law, average weekly jobless claims remain below pre-pandemic lows, major US-listed Chinese tech firms are pulling out of Hong Kong IPOs, Chinese industrial profits contracted 3.6% in November, and OpenSea's CEO wants to distance NFTs from the crypto crisis.
2020 Round 2
Russian pipeline gas exports to Europe hit a post-Soviet era low, the Nasdaq is down 36.4% from its peak, Instacart cut its internal valuation by another 20%, Amazon is planning a standalone app for sports content, Musk told employees not to be worried about stock market craziness, and the US will require negative Covid tests for passengers from China. Is it 2020 again?
Tesla Stock Rolling Downhill
Tesla stock got wrecked this year, Russia banned oil exports to countries implementing G7 price cap, New York raised limits of how much state and city pensions can invest in alternative assets, the DOT is investigating Southwest's mass flight cancellations, and AMC's CEO requested a salary freeze.
SPAC Massacre
US consumer 1-year inflation expectations dropped to a 1.5 year low, 70 SPACs have liquidated this month, global equity funds recorded their biggest weekly outflows since March 2020, Lockheed Martin got a fat government contract, Meta will pay $725M to settle its Cambridge Analytica scandal, and Tesla suspended production in Shanghai.
Quarter-Billion Bail
SBF was released on a mere $250M bond, Musk promised not to sell any more Tesla stock for two years, US Q3 GDP was revised up to 3.2% growth, US short-sellers are up $304B YTD, LBO activity is down 40% YoY, global PE dry powder is at $1.96T, YouTube signed a $2B/year deal with NFL's Sunday Ticket, and Florida became the fastest growing state by population in 2022.
The ARKK Is Sinking
Cathie Wood's Ark Investment Management is down $50B from its peak, Musk expects Twitter to break even next year, US companies are turning to contract workers, China posted a record year for IPOs, PE activity dropped 66% in Q4, and India plans to phase out stock buybacks.