Good Morning! A new study found that it’s actually workers who get promoted who are more likely to quit their jobs. BP's CEO stepping down - apparently, the top oil exec forgot to mention a few personal relationships with colleagues.

Banks loaded up on $1.2 trillion of risky "hot" brokered deposits last quarter - and regulators are taking notice. Wall Street’s pleading with the Fed to relax those U.S. bank capital rules. And Apple re-upped its deal with Qualcomm through 2026 in a sign the iPhone maker isn’t ready to make its own chips yet.

_{SQUEEZ OF THE DAY}

$100B Pills

The obesity drug market is just getting started - and Barclays thinks the burgeoning industry could swell to a $100 billion one.

Novo Nordisk and Eli Lilly have been around for over a century - but analysts think the best could be yet to come with their latest drug releases - Ozempic, Wegovy, and Mounjaro.

Mounjaro, in particular, went from selling $16 million to almost a billion dollars in just one quarter! And prescriptions for Wegovy and Ozempic have shot up like a rocket, with increases of 300% and 140%, respectively.

And other pharmaceutical giants like Pfizer and Amgen are late to the party. But they're rushing to develop their own weight-loss drugs, although you might have to wait a year or more to get your hands on them.

But these miracle drugs aren't just for vanity - early research suggests they might also double as the cure for dementia and addiction.

Takeaway: With nearly 42% of adults and 20% of kids in America battling obesity, there’s a massive market out there for these drugs. If you’re interested in reading our weekly deep-dives on industries and stock picks like the obesity drug market, make sure to upgrade to Short Squeez Insiders.

_{CAPITAL PULSE}

Markets Rundown

Stocks closed lower as oil prices stoke inflation fears.

Movers & Shakers

• (+) Beauty Health ($SKIN) +24% after announcing a cost-cutting program, stock buybacks.

• (+) Casey’s General Store ($CASY) +11% after the Midwest convenience store chain announced expansion plans.

• (–) Oracle ($ORCL) -14% steepest drop since 2002 on weak revenue guidance.

Private Dealmaking

• Lyten, a battery manufacturing developer, raised $200 million 

• Enfabrica, an AI chips startup, raised $125 million

• Mujin, an industrial automation software developer, raised $85 million

• Arilys Therapeutics, an autoimmune therapies developer, raised $58 million

• Ibex Medical Analytics, a cancer pathology diagnostics company, raised $55 million

• Story Protocol, an IP creator collaboration platform, raised $54 million

Get access to private deal flow here.

_{SPONSORED BY MASTERWORKS}

How can everyday investors benefit from Banksy’s market soaring 63%?

For the last 20 years (2003-2023), record prices for Banksy’s paintings have grown at a compounded rate of 63.8% annually, according to publicly available auction data. In plain English, that means Banksy’s market has been historically impressive – to say the least. And nowadays, it’s not just the ultra-wealthy benefiting from this phenomenal growth…

Masterworks enables its 820,000+ users to access investments in multi-million dollar artworks by artists like Banksy, Basquiat, and Picasso. Each offering is filed with the SEC, so nearly anyone can invest in legendary artworks for a fraction of the piece’s price. When Masterworks sells a painting, like the 16 already sold, investors reap their portion of the net proceeds. In fact, investors have already realized annualized net returns of 17.8%, 21.5%, 35%, and more.

Shares of offerings are limited, and can sell out in minutes. Luckily, Short Squeez readers skip the waitlist here.*

_HEADLINES

Top Reads

• The new IPO story is lowered expectations (Axios)

• Everything Apple announced at its 2023 event (CNBC)

• Deutsche Bank launches private credit business for investors (BB)

• Wall Street sees potential upsides of UAW auto strikes (CNBC)

• Goldman shrinks executive committee (Reuters)

• Apple’s charging change is going to be a pain (YF)

• How to interpret August’s looming inflation numbers (Axios)

• Nvidia’s dominance in AI chips deters funding for startups (Reuters)

• Key lesson from Instacart’s IPO - don’t wait (YF)

• SoftBank needs a hit, and it’s betting on Arm (NYT)

_{BOOK OF THE DAY}

Outrage Machine

The original internet was not designed to make us upset, distracted, confused, and outraged. But something unexpected happened at the turn of the last decade, when a handful of small features were quietly launched at social media companies with little fanfare.

Together, they triggered a cascading set of dramatic changes to how media, politics, and society itself operate—inadvertently creating an Outrage Machine we cannot ignore.

Author, designer, and media researcher Tobias Rose-Stockwell shares the defining shifts caused by these technologies, and how they have ignited a society-wide crisis of trust.

Drawing from cutting-edge research and vivid personal anecdotes, Rose-Stockwell illustrates how social media has bound us to an unprecedented system of public performance, training us to react rather than reflect, and attack rather than debate.

Outrage Machine reveals the triggers and tactics used to exploit our anger, unpacking how these tools hack our deep tribal instincts and psychological vulnerabilities, and how they have become opportunistic platforms for authoritarians and a threat to democratic norms everywhere.

“An invaluable guide to understanding how the internet has broken our brains—and what we can do to fix it.”

_{ENLIGHTENMENT}

Short Squeez Picks

• 4 secrets of nonverbal eye contact

• How to strengthen your mind through using your body

• Mastering storytelling is a must-have leadership skill for the 21st century

• The number one common phrase to never use

• How Jeff Bezos' 'Reversible vs. Irreversible Decisions Framework' can improve your life

_{DAILY VISUAL}

US Real Median House Income

_{SPONSORED BY JURNY}

AI Investment Opportunity

The AI landscape is rapidly evolving, with giants like Google and OpenAI paving the way. Every industry is being transformed, and VCs have taken note, channeling billions into AI startups.

This golden era of AI isn't exclusive to the world of big VCs and IPOs.

Here’s a great startup giving Short Squeez readers a limited-time opportunity to invest in the future:

Jurny: At the forefront of AI-driven innovation, Jurny is revolutionizing the hotel and short-term rental sector by addressing inefficiencies worth over a staggering $1 trillion.

Their impact? Customers are already witnessing efficiency boosts of up to 80%. It’s no wonder Jurny has secured the trust of top-tier investors like Mucker Capital and Okapi Ventures.

Dive into the AI wave. Secure your stake in Jurny now.

_{DAILY ACUMEN}

Emotional Smarts

When you're about to explode like a shaken soda can, hit the 'mental pause button.' It's your brain's VIP lounge—only cool, calm personas allowed.

Got that annoying self-talk? Yeah, we all have that inner critic who thinks they're Simon Cowell. Tell it to zip it or at least offer constructive feedback, like an emotionally mature British TV host.

Recruit some "emotional spotters" who nudge you when you're about to go full Hulk. Just don't smash them; they're helping you avoid turning green, metaphorically of course.

Curiosity: it’s not just for cats or nosy neighbors. Channel that inner Sherlock Holmes and ask, "Why is Karen from accounting always so grumpy before her third cup of coffee?" Being curious might just save you from an emotional kerfuffle.

Remember, mastering emotional intelligence is like learning to parallel park; awkward at first, but legendary once you get it right. And hey, it beats being the office volcano that could erupt at any misplaced Post-it note.

_{MEME-A-PALOOZA}

Memes of the Day