🍋 BeGone

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Good Morning! JPMorgan officially bought First Republic Bank yesterday, and Jamie Dimon says it’s a sign the banking crisis is now over. But experts aren’t so sure we’re out of danger. Housing in California has gotten so rough that University of California students are now clamoring over the latest type of student housing - trailer parks.

Elon Musk says he’ll inject $2 billion of new capital in SpaceX as he tries making it to space. And Geoff Hinton, dubbed the 'Godfather of AI,' resigned from Google and thinks generative AI innovations are moving too fast.

Today's sponsor, Daloopa is giving Short Squeez readers access to ten financial models (any public company) when you sign up for a free account on their website.

1. Story of the Day: BeGone

The social media landscape is in flux, with Twitter losing steam and TikTok facing uncertain prospects. Many users thought BeReal, the photo-sharing app popular with Gen-Z, would rise up and become the next big thing. But BeReal burst onto the scene last summer and is already showing signs of decline.

BeReal offers a unique and refreshing social media experience that deviates from the typical highlight reels and staged photos of other platforms like Instagram. With its distinctive concept of sharing an unedited and unplanned photo once a day with friends, BeReal promotes authenticity and realness in social media interactions.

However, despite its initial popularity, the app has experienced a sharp decline in daily users, with a staggering 61 percent drop in daily users from its peak in October of 15 million to less than six million in March. This significant decrease in user base clearly indicates that the app's novelty has worn off, and its growth has slowed down considerably since last summer.

The once-promising team now faces a slow fade into obscurity, and the reason behind their decline is painfully obvious: a lack of innovation. Despite having nine months to deliver game-changing user features, the team only managed to release a private archive for past posts and the ability to add songs to your updates.

Takeaway: Turns out, creating the next groundbreaking social media company that can withstand the test of time is an incredibly hard task. While people initially gravitate towards these new toys, they return to the tried-and-true favorites like Instagram and TikTok. Social media companies also need to keep constantly innovating and growing if they want to be the next big thing. BeReal struggled to evolve and keep up with its users’ attention, and now it’s paying the price.

2. Markets Rundown

Stocks closed slightly lower as investors make sense of the First Republic fallout.

Movers & Shakers

• (+) Norwegian Cruise Line ($NCLH) +9% after the cruise line beat earnings.

• (+) JPMorgan Chase ($JPM) +2% after acquiring First Republic Bank.

• (–) SoFi ($SOFI) -12% after the fintech company lowered

  its full-year guidance.

Private Dealmaking

• Vedanta Biosciences, a oral therapies developer, raised $106.5 million

• Foresight Diagnostics, a cancer detection test developer, raised $59 million

• Halycon, a ransomware protection startup, raised $44 million

• Therini Bio, a biotech focused on inflammatory diseases, raised $36 million

• Carbon, a developer of weeding robots, raised $30 million

• Epic Sciences, a cancer treatment startup, raised $24 million

A Message from Daloopa: Get Access to 10 Financial Models

Part of being a finance professional consists of being one of the world's best-paid data-entry professionals.

It's a pain—and a rite of passage—to build a financial model by painstakingly transcribing information from 10-Qs, 10-Ks, presentations, and transcripts. Or, at least, it was: Daloopa uses machine learning and human validation to automatically parse financial statements and other disclosures, creating a continuously-updated, detailed, and accurate model.

Thomas Li (CEO) puts it best: "Daloopa collects literally everything a company discloses."

Daloopa is giving Short Squeez readers access to ten financial models (any public company) when you sign up for a free account on their website.

3. Top Reads

• Top Wall Street research firms of the past decade (CNBC)

• The new corporate job is human (Forbes)

• How banks won - and then collapsed (Axios)

• For small businesses - the personal story matters (NYT)

• AI faces a long road ahead in healthcare (YF)

• How Saudi money returned to Silicon Valley (Vox)

• Apollo CEO says the stronger get stronger on JPM-FRC deal (YF)

• Subway comes up with debt plan to clinch $10B sale (Reuters)

• Scientists develop A.I. system that turns thoughts into texts (CNBC)

• A timeline of how the banking crisis unfolded (NYT)

4. Book of the Day: The Mountain Is You

This is a book about self-sabotage. Why we do it, when we do it, and how to stop doing it—for good. Coexisting but conflicting needs create self-sabotaging behaviors. This is why we resist efforts to change, often until they feel completely futile.

But by extracting crucial insight from our most damaging habits, building emotional intelligence by better understanding our brains and bodies, releasing past experiences at a cellular level, and learning to act as our highest potential future selves, we can step out of our own way and into our potential.

For centuries, the mountain has been used as a metaphor for the big challenges we face, especially ones that seem impossible to overcome.

To scale our mountains, we actually have to do the deep internal work of excavating trauma, building resilience, and adjusting how we show up for the climb. In the end, it is not the mountain we master, but ourselves.

“It is very hard to show up as the person you want to be when you are surrounded by an environment that makes you feel like a person you aren’t.”

5. Short Squeez Picks

• A few ways the world works

• What Succession tells us about money dynamics in relationships

• 26 of the world’s most aesthetic hotels for remote work

• The problem with being house rich

• 6 toxic phrases narcissistic people always use

• Can ChatGPT automate your finances?

A Message from RYSE: Save your energy. Invest in This Innovative Green Tech Startup

The future is getting….greener. With new laws and regulations governments are beginning to require all new buildings to be net-zero in carbon emissions by 2030.

Seems like a great idea, right? Of course, it is. We love the environment and want to protect it, but can saving the environment also be a good investment? You bet. Meet RYSE.

RYSE SmartShades save energy in two ways:

1. Solar Heat Gain Management – Automatically lowering shades blocks direct sunlight and can reduce indoor cooling costs by up to 24%.
   

2. Daylight Harvesting – Automatically opening shades during overcast or bright weather can reduce indoor lighting costs by up to 74%.

Creating automated window shades, RYSE has shareholders already seeing an 40% increase in value year-over-year, the time to invest is now. RYSE has even received a federal cleantech grant amounting to $4 million!

Learn more and invest in a greener tomorrow.

6. Daily Visual: US Real Disposable Income Growth

_{Source: Axios}

7. Daily Acumen

Our perceptions shape our reality, and it's possible to change our outlook by changing how we perceive things.

For example, we can find beauty in everyday objects by looking at them from a different angle or in a different light.

Similarly, we can reframe negative experiences as opportunities for growth and learning.

One way to change our perspective is through the creation and enjoyment of art.

Art can open our minds to new ways of thinking and feeling, and allow us to express ourselves in unique and meaningful ways.

So whether you're painting, writing, dancing, or simply appreciating the beauty of art around you, remember that a shift in perspective can lead to a more fulfilling life.

8. Memes of the Day

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