🍋 Bank of Apple

Together With

Good Morning! Amazon is considering buying the movie theater chain AMC. The Nasdaq has officially entered bull market territory, after rising 20% from its Dec. 28 closing low.

Remote work might be losing a little bit of its shine, as a new study found the trend is down from its 2021 peak. UBS brought back its ex-CEO from retirement to lead its integration with Credit Suisse.

And as chatbots become all the rage, some companies are racing to hire prompt engineers or "AI whisperers" at up to a $335,000 starting salary.

Poll results: Only 5.06% of you said you’ll buy Twitter Premium.

Financebuzz’s team of credit card experts has put together a comprehensive list of the top cards that offer extended periods of 0% interest rates. Check out the list here.

If you are interested in getting in front of a smart, young audience of business leaders, bankers, investment professionals, policy influencers of over 500,000 people, then fill out this form, we’ll be in touch.

1. Story of the Day: Bank of Apple

Apple launched its “buy now, pay later” service this week, and it could take Apple Pay to a whole new level. And as Big Tech amps up its financing capabilities, traditional banks are feeling the heat and realize they could soon be edged out as the middle-man.

78% of iPhone users have set up Apple Pay, and it’s the only digital wallet that banks have agreed to pay a fee for. Apple raked in $782 million of fees last year. And Goldman Sachs has backed Apple Card since 2019.

But banks have long worried that there could come a point where Apple no longer needs them.

Apple will handle the lending for its BNPL, which allows users to pay in four installments over six weeks. In handling the lending in-house, Apple is cutting out other financial services firms.

Make no mistake - Apple is serious about expanding into personal finance. The company released a savings account for Apple Card users last October and wants to grow Apple Cash to become a rival to Venmo.

Takeaway: Could Apple become the world’s biggest bank? It’s tough to tell, but the company has the capabilities and cash to do so. A few years ago CEO of JPMorgan Jamie Dimon said banks should be “scared sh*tless” of fintechs, and some are starting to worry Big Tech’s personal finance ambitions are going too far.

2. Markets Rundown

Stocks rallied and Nasdaq entered a bull market.

Movers & Shakers

• (+) Lululemon ($LULU) +13% after posting a strong profit after holiday sales.

• (+) UBS ($UBS) +4% after the bank’s former CEO will come out of retirement to oversee Credit Suisse acquisition.

• (–) Urban Outfitters ($URBN) -2% after UBS says discretionary retailers aren’t priced for a recession.

Private Dealmaking

• Actis bought Spanish data center Nabiax's LatAm business for $500 million

• SoftBank bought Berkshire Grey, an e-commerce robots maker, for $375 million

• ArriVent Biopharma, a cancer-focused pharmaceutical, raised $155 million

• Coursedog, an academic operations platform, raised $90 million

• Adeptia, a B2B integration software provider, raised $65 million

• Metomic, a startup that gives security teams control over data, raised $20 million

A Message from Financebuzz

Are you feeling weighed down by your credit card debt and the high monthly payments that come with it? Don't let the pressure keep building up. A new 0% intro APR credit card can help ease the pressure while you pay down your balances.

Financebuzz’s team of credit card experts has put together a comprehensive list of the top cards that offer extended periods of 0% intro APR on balance transfers and purchases. With these special rates, you can get some much-needed relief and pay down your balances without worrying about accruing additional interest.

Check out the list of these cards charging 0% interest till nearly 2025 here.

3. Top Reads

• How UBS’ CEO can integrate Credit Suisse and calm investors (YF)

• AI and robots fuel new job displacement fears (Axios)

• Credit Suisse helping rich Americans evade taxes (Fox)

• There’s a better way to fire people - Big Tech isn’t doing it (YF)

• Will bank turmoil tank the economy? (NYT)

• The rise of private jet culture (Axios)

• Elon Musk, other tech leaders call to pause training AI beyond GPT-4 (CNBC)

• Accountants’ salaries are rising amidst employee shortage (Fox)

• When earning over 100k doesn’t affect your happiness (CNBC)

• America’s most innovative companies (Fortune)

4. Shortform Book of the Day: Swipe

Read More Books, Faster - Shortform offers super-detailed guides to 1000+ books in categories like finance, careers, self-improvement, and more. Their comprehensive coverage and deep insights will give you the world's greatest ideas without the fluff.  Start your free trial and get 3 months off the annual subscription!

Every day we wake up determined to engage with life—to overcome work challenges, finish that novel, reach fitness goals, or repair a strained relationship. Despite our best intentions, we fall short.

Why is it so hard to finish what we start? Are we doomed to a lifetime of regret?

Reaching goals after repeated frustration starts with understanding the impulse known as the Swipe, a side effect of our high-tech culture.

Based on a massive research database, and drawing on disciplines from neurobiology to business, Tracy Maylett and Tim Vandehey reveal a powerful psychological process that makes us disengage from what (or who) we care about most—often when we’re heartbreakingly close to real breakthroughs.

In Swipe, readers will learn how this mechanism works and recognize when they’re caught on the “Hamster Wheel.” They’ll discover how to short-circuit the Swipe, reengage, and finally finish what they start.

“This book is the key to escaping the cycle of failure, disengagement, and regret.”

5. Short Squeez Picks

• Why you need to breathe properly and how to do it

• 5 ways to stop procrastinating for good

• How to tell if potential employer has burnout culture

• How to build your executive network

• 7 thought experiments that will make you question everything

6. Daily Visual: 30-Year Fixed Mortgage Rate

_{Source: Axios}

7. Daily Acumen

Thought experiments are like a mental playground where you can try out different scenarios without any real-world consequences. Imagine playing with the laws of physics, human nature, and morality – all from the comfort of your own brain.

So, thought experiments are like these hypothetical situations that help us understand complex ideas and explore our beliefs. They're like philosophical lab rats, guiding us through moral and ethical mazes.

Think of Schrödinger's cat, the famous quantum mechanics thought experiment – it's both alive and dead until you open the box! Talk about a mind-bender.

These experiments have been around for ages, from ancient Greek philosophers to modern-day thinkers. They're like a secret weapon that helps us peel back layers of complexity and find the core principles.

And the best part? You don't need a fancy lab coat or any equipment – just your imagination and a healthy dose of curiosity.

So next time you're faced with a tricky problem or a complex idea, give thought experiments a try. It's like taking your brain on a wild, philosophical adventure, and who knows – you might just discover something extraordinary.

8. Memes of the Day

 Advertise With Us / Merch Store / Private Equity Course

Want more Short Squeez?

Become an Insider. You'll get access to:

1. Industry deep-dives & compelling investment ideas

2. Wall Street Insider interviews breaking down their investment portfolio, strategy & investment picks

3. Knowledge Drop - an exclusive alpha-generating newsletter covering the best weekly research & content (podcasts, articles, blogs)

4. Vault – a collection of investing & recruiting guides, modeling courses, salary / comp data, institutional research (40+ resources added / month)

See you on the Inside.

*****

Looking to start your own newsletter? Beehiiv is Warren Buffett of creator platforms.

*****