🍋 It's Backup Plan Szn

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Good Morning! The 'Great Purpling' is upon us. Apparently, streetlights in a bunch of major cities are turning purple. Experts are blaming the switch on faulty, but harmless, manufacturing. 

OpenAI's recent launch of AI tool, ChatGPT continued to cause a stir across the globe. You can use the AI technology to write a research paper, draft a lease agreement or create a workout plan in a matter of minutes! 

A Tesla-backed startup is promising a $300k flying car by 2025, and Musk says Apple has fully resumed advertising on Twitter. Celsius users are turning to the bankruptcy process to get their money back. And SBF says he can’t account for the billions of dollars sent to his hedge fund, Alameda as he continues his peculiar press across the country.

1 in every 4 adults grind or clench their teeth at night, which causes poor sleep, jaw pain, headaches, and even cracked teeth. Remi is here to help with custom night guards, delivered right to your doorstep – all for 80% less than the dentist.

If you are interested in getting in front of a smart, young audience of business leaders, bankers, investment professionals, policy influencers of over 450,000 people, then fill out this form, we’ll be in touch.

1. Story of the Day: It's Backup Plan Szn

You’ve probably heard of ‘quiet quitting’ by now. But ‘career cushioning’ is also becoming a big trend in 2022.

Think of ‘career cushioning’ like having a backup plan in case your Thursday night Hinge date falls through. Many workers are career cushioning and preparing themselves for whatever comes next in the economy. We’ve already seen about 100,000 tech workers laid off this year, and the start of 2023 could be rough.

Workers are revamping their LinkedIn pages, creating new resumes, and networking. Most of them aren't looking for other jobs right now, but they want to keep their options open in case they lose their jobs.

Career cushioning is hardly new. Workers have looked for other jobs in other economic downturns. But workers are more mobile than ever in 2022, and technology makes it easier to find other options. 

Takeaway: Workers in tech and finance see instability in their fields ahead of what's sure to be a recession next year. As workers seek more stable jobs than ever before, some are creating backup plans or even switching careers. Some are also leveraging their new job offers for raises. While you might have career cushioned before, it's easier than ever to keep your options open with LinkedIn and Zoom interviews.

2. Markets Rundown

If you want access to Wall Street insider interviews, industry deep-dives, and investment ideas, check out our Insiders newsletter.

Stocks closed lower on Friday after the November jobs report.

Movers & Shakers

• (+) Peloton ($PTON) +13% because the company reported strong earnings.

• (+) Enphase Energy ($ENPH) +7% after the company announced it will expand into Europe.

• (–) PayPal ($PYPL) -5% after the stock received another downgrade this year.

Private Dealmaking

• Anduril, a defense startup, raised $1.48 billion in 2nd largest fundraising of 2022

• iECURE, a gene editing startup, raised $65 million

• Lumen, a metabolism measurement device manufacturer, raised $62 million 

• Igloo, a Southeast Asian consumer insurance startup, raised $27 million

• Boston Scientific bought Apollo Endosurgergy for $417 million

A Message from Remi: Do You Grind or Clench Your Teeth at Night?

If you're under daily stress, you might be grinding or clenching your teeth at night without realizing it. In fact, 1 in every 4 adults grind or clench their teeth at night, which causes poor sleep, jaw pain, headaches, and even cracked teeth...

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Top Reads

• The booming labor market isn’t cooperating with the Fed (Axios)

• Why more workers need access to retirement savings (CNBC)

• Goldman warns of shrinking bonus pools as Wall Street hunkers down (Fox)

• Why stocks might not be doomed - even with key recession signals flashing (MW)

• Is the worst over for Bitcoin and the rest of crypto? (CNN)

• The factory slowdown is here (Axios)

• Tech layoffs may not be a bad omen for the U.S. economy at large (CNBC)

• FTX downfall threatens crypto existence (Axios)

• Cash-hungry companies get creative raising capital (Fox)

• Blackstone REIT a possible warning sign for markets (Reuters)

• Why tech is betting big on AI-generated art (CNBC)

• Morgan Stanley making modest job cuts (Reuters)

4. Book of the Day: The Atlas Paradox

Six magicians were presented with the opportunity of a lifetime. 

Five are now members of the Society.

Two paths lie before them.

All must pick a side.

Alliances will be tested, hearts will be broken, and The Society of Alexandrians will be revealed for what it is: a secret society with raw, world-changing power, headed by a man whose plans to change life as we know it are already under way.

“But the cost of knowledge is steep, and as the price of power demands each character choose a side, which alliances will hold and which will see their enmity deepen?”

5. Short Squeez Picks

• Harvard nutritionist shares 5 foods that weaken memory and focus

• How snacking on exercise can help you get into a routine

• What does it mean to be resilient?

• The most powerful paradoxes of life

• Why bandits are losing interest in robbing banks 

A Message from The Investing Journal

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6. Daily Visual: U.S. Economy Adds 263,000 Jobs in November

Change in US nonfarm payrolls

Source: Axios

7. Daily Acumen

"You can't think well without writing well, and you can't write well without reading well.

And I mean that last "well" in both senses.

You have to be good at reading, and read good things.

People who just want information may find other ways to get it.

But people who want to have ideas can't afford to."

Source: Paul Graham

9. Memes of the Day

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