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šBusiness Nuts
The Consumer Price Index was up 3.1% YoY in January, lower than December (3.4% YoY) but higher than analystsā expectations (2.9%). Shelter and food prices remain high, though fuel costs are falling.
Paramount Global is laying off ~800 US-based employees, or ~3% of its global workforce. The news comes after the network scored a record-setting 123.4m Super Bowl LVIII viewers.
Hasbro has made ~$90m off Larian Studiosā āBaldurās Gate 3ā since it debuted in August. The hit video game is part of the Dungeons & Dragons universe, which Hasbro acquired with Wizards of the Coast in 1999.
GoFundMeās annual report shows the crowdfunding platform has generated $30B in total donations since 2010. Fun fact: the most common donation amount is $50.
Lyft stock shot up 60% on the news. But right away to kick off the earnings call, the company's CFO pointed out that it was a typo and the actual increase was 50 basis points (or 0.5%). The lesson of the day is in the world of finance, a zero can be worth a couple billionāgive or take.
Tiger Woods and TaylorMade have signed an apparel deal. The deal comes after Woods walked away from a 27-year partnership with Nike. Woods already has an equipment deal with TaylorMade that has him playing with the brandās driver, fairway woods, irons and wedges.
Jeff Bezos will save over $600 million in taxes by moving to Miami. Last year, Bezos announced on Instagram that he was leaving Seattle after nearly 30 years. In 2022 Washington state imposed a new, 7% capital gains tax on sales of stocks or bonds of more than $250,000. Bezos plans to unload 50 million shares of Amazon before Jan. 31, 2025. Posting those sales in Florida will save him at least $610 million.
š±Tech Nuts
Threads is rolling out a transformational feature ā showing trending topics ā which should help Metaās new social platform catch up with decade-ago Twitter.
OpenAI is experimenting with adding a form of long-term memory to ChatGPT. Users will be able to ask the chatbot to remember something, see what it remembers, and ask it to forget. The feature is currently available to a small number of users for testing.
Mark Zuckerberg recently posted a video to his Instagram account giving his official verdict on the Apple Vision Pro versus the Meta Quest 3. He says that the Quest 3 is the better product. The Quest 3 weighs less and its lack of a wired battery and wider field of view allows for greater motion. While Zuckerberg thinks the Vision Pro is a better entertainment device, he notes that the Quest has a better immersive content library than Apple.
Mozilla plans to shut down Hubs and scale back its investment in its VPN, Relay, and Online Footprint Scrubber.
Microsoft no longer faces tighter controls on how it can operate Bing in the EU - the EU commission has also closed investigations into Microsoft's Edge and online advertising business.
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šMiscellaneous
Solar Radiation Management (SRM) is starting to gain more attention due to 2023's high temperatures. It's much easier to artificially dim the sun than most people imagine. Injecting sulfur into the stratosphere could be a cheap way to cool down the Earth. It would have an almost instant effect, but once it starts it would be dangerous to suddenly stop. SRM will not fix the root cause of the problem, but it could buy time for us to remove CO2 from the atmosphere. However, its implementation could make us more complacent about fixing the core issues.
š”What else are we reading and seeing?
Will Vision Pro replace the iPad?
Why rate cuts won't make buying a house much easier
Build a lifelong habit of learning with the 5-hour rule
Use these phrases instead of pretending to agree with someone
11 clever tips for getting out of bed for a morning workout
šFun Fact
The world's first paper money was created in China over 1,000 years ago.
š¦Joke of the Day
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