🍋 $100 Million Youtubers

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Short Squeez
September 29, 2022

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"Businesses can be opaque. They are complex. You don't know how aircraft engines work either." — Jamie Dimon

Good Morning! 1.5 million customers are working through power outages in Florida, as Hurricane Ian hit the west coast of Florida. Wishing everyone there the best of luck. UK homeowners are also trying to keep calm and carry on in the face of mortgages that could skyrocket from 2% to 6% in a year or so. Nearby in the Czech Republic, thousands are protesting demanding the government's resignation because of the worst cost-of-living crisis.

Apple's also facing trouble, as their iPhone sales have not surged enough to warrant one of their production lines, which they'll be shutting down. Eleven of Wall Street's banks will have to pay fines totaling $1.8 billion because traders were caught using banned messaging apps.

Today's sponsor, LMNT is a tasty electrolyte drink mix, trusted by professional athletes. LMNT is offering Short Squeez readers a free sample pack with any purchase.

1. Story of the Day: $100 Million Youtubers

I bet a lot of people who are reading this remember some of YouTube's OG trick shot videos. Well they were likely performed by Dude Perfect, and in case you were wondering what they're up to now, the answer is big, big things.

The group of five dudes who make wholesome, G-rated, trick-shot content are building a new headquarters that could cost as much as $100 million. Glad to see that some social media celebs are actually doing real things with their influence, and not just pranking unassuming strangers.

The three-story HQ will host a 330-foot "trick-shot tower," a Dude Perfect museum (maybe displaying some of their Guinness World Records,) a swag store, restaurants, and two acres worth of outdoor space.

The Texans are hoping to stay close to home with the new HQ, but are also pitching the project to cities like LA and Atlanta. Overland Partners, a San Antonio-based architecture firm working with Dude Perfect to design the space said about the futuristic tower, that, "Inside, visitors will get to try their hand at the impossible shot as they ascend through a series of floors leading up to the top of the tower, surrounded by city views."

Short Squeez Takeaway: I took a little trip down memory lane after reading about this, and watched some old, and new, DP content. Nowadays, a ton of kids say they want to be YouTubers when they grow up, and I'm normally bearish on social media personalities. Do something real! Well these guys do just that making videos that encourage kids to be active, and also have legitimate businesses, including a partnership with Nerf. Good role models!

2. Markets Rundown

Stocks rallied on the news of the Bank of England intervening and pledging unlimited buying of long dated gilts. Crypto gave up gains it grabbed on Tuesday.

Movers & Shakers

  • (+) Biogen ($BIIB) +40% thanks to positive results from its experimental Alzheimer's drug study.

  • (+) Illumina ($ILMN) +8% on Evercore ISI upgrading the stock to outperform from in line.

  • (–) Apple ($AAPL) -1% on the news the company will ditch efforts to beef up new iPhone production.

Private Dealmaking

  • Wasabi, a cloud storage company, raised $125 million

  • Strike, a Bitcoin network startup, raised $80 million

  • Flatfile, a document onboarding startup, raised $50 million

  • 3Commas, an automated crypto trading platform, raised $37 million

  • Disperse, an AI platform for construction managers, raised $26 million

  • NFT video platform Glass raises $5 million

3. Top Reads

  • Fed rate moves can’t address some price spikes (Axios)

  • The Fed is fighting for credibility (CNBC)

  • People are worried about bond market liquidity (Axios)

  • Tech’s ugly quarter will bleed into October (YF)

  • Investors believe aggressive Fed will keep stock market down for rest of 2022 (CNBC)

  • Waffle House Index aims to help communities measure Ian’s impact (Fox)

  • How the U.S. is exporting inflation to other countries (CNN)

  • Another $372 million on the way to Bernie Madoff’s victims (Reuters)

  • How to navigate a bear market based on history (CNBC)

  • S&P snaps longest losing streak since February 2020 (MW)

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4. Book of the Day: When McKinsey Comes to Town

McKinsey & Company is the most prestigious consulting company in the world, earning billions of dollars in fees from major corporations and governments who turn to it to maximize their profits and enhance efficiency.

McKinsey's vaunted statement of values asserts that its role is to make the world a better place, and its reputation for excellence and discretion attracts top talent from universities around the world. But what does it actually do?

Bogdanich and Forsythe have penetrated the veil of secrecy surrounding McKinsey by conducting hundreds of interviews, obtaining tens of thousands of revelatory documents, and following rule #1 of investigative reporting: Follow the money.

When McKinsey Comes to Town is a landmark work of investigative reporting that amounts to a devastating portrait of a firm whose work has often made the world more unequal, more corrupt, and more dangerous.

“The firm frequently advises competitors in the same industries, but denies that this presents any conflict of interest.”

5. Short Squeez Picks

6. Daily Visual: Apple's iPhone Revenue

By Fiscal Quarter

Source: Axios

7. Daily Acumen: Rest and Productivity

“Rest actually improves our performance. One study found that when people have predictable and consistent time off work, they are actually more productive overall because they feel more mentally rested, which increases motivation and work enjoyment.

Other research shows that even breaks within one’s shift or workday increase both the quantity and quality of the tasks they are able to engage in throughout the rest of the day.

Some of the most productive scientific and creative minds in history report only working for shorter periods throughout the day. They accredit the rest they are able to achieve for their productivity levels.

Research supports this, suggesting that working in multiple 80-minute sessions throughout the day separated by rest periods will yield the best results. Give rest breaks a try and see how it impacts you!”

8. Crypto Corner

9. Memes of the Day

 

 

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