Good Morning! It's been a wild week for Zoom. First, the company summoned its employees back to the office. And now? The company conveniently changed its terms-of-service. Just as rumors broke the company was training AI on calls without users’ consent.

China’s economy is flirting with deflation, sounding the alarm to the U.S. economy. And Minneapolis became the first metropolitan area to tame inflation below the Fed’s 2% target. Google and Universal Music are negotiating a deal to combat AI deep fakes. And Disney released mixed earnings - they’ll raise prices on its ad-free streaming to $13.99/month, and the company is taking Netflix’s lead on password crackdowns.

_{SQUEEZ OF THE DAY}

From Bleachers to Bull Markets

Wall Street has set its sights on a bold new frontier: college sports. Think about it—powerhouse athletic departments like those at the University of Alabama, Florida State University, and the University of Texas aren't just scoring touchdowns; they're raking in billions of dollars in revenue each year.

In 2019 (the last year with figures available), the NCAA itself brought in a staggering $15.8 billion in revenue. And some schools think there's an even bigger jackpot waiting to be seized. Florida State has now enlisted JPMorgan Chase to help raise capital from institutional investors. JPMorgan will try and drum up interest from private equity investors and the like.

The Pac-12 Conference may be struggling right now, grappling with departures from major players like USC and Oregon. But before the breakup, the Pac-12 courted private equity investors, and for a $500 million upfront investment, the conference was willing to shell up equity and a share of the conference’s television deal.

And with college athletes now able to monetize their names, images, and likenesses, savvy investors are lining up to make a play. Some boosters and even investors are investing upfront to snag a piece of these athletes' future earnings.

Takeaway: Private equity deals have been hard to come by this year with interest rates at all time highs. College sports might have found their next financial engineering target - athletic conferences and departments are looking for upfront cash, and they’re willing to give up equity and a slice of their media rights to get it.

_{CAPITAL PULSE}

Markets Rundown

Stocks closed lower as investors brace for inflation data.

Movers & Shakers

• (+) Celsius Holdings ($CELH) +20% after the energy drink company beat expectations.

• (+) Penn Entertainment ($PENN) +9% after announcing a partnership with ESPN and divestiture of Barstool Sports.

• (–) Roblox ($RBLX) -22% after the gaming platform missed estimates.

Private Dealmaking

• Novacap bought Cadent, an ad tech firm, for $600 million

• KKR acquired a portfolio of prime auto loans from Synovus Bank for $373 million

• ADARx Pharmaceuticals, an RNA therapeutics developer, raised $200 million

• Simon, a customer data platform, raised $54 million

• Tractian, an industrial asset monitoring startup, raised $45 million

• Carbon Upcycling Technologies, a decarbonizations solutions developer, raised $26 million

Get access to private deal flow here.

_{SPONSORED BY WELLCORE}

Doctors Say Do This One Thing to Live a Better Life

Stretching. Taking the stairs. Eating less pizza. All good habits. But these alone will not change your life. What will? Hormone optimization. Here’s why: As we age, our testosterone levels decline big time. That’s just a fact. 40% of men over 40 suffer from low testosterone, as do 20% of men who are ages 25-40.

Low testosterone can wreck our emotional, mental, and physical health. But we haven’t gotten to the crazy part. 95% of men with low testosterone go untreated. 95%!

Enter Wellcore. They leveraged over 120 scientific studies to create The Best Hormone Optimization Program on the Planet. 100% at home and 100% painless.

The science-backed hormone optimization program can improve strength, fat loss, bone density, libido, blood pressure and mood; helping you to combat the aging process.

Right now, they are treating our readers like VIPs. Get started by ordering the kit for just $99 today ($150 off) using code HELLOVIP.

_HEADLINES

Top Reads

• Barstool’s Dave Portnoy beat the house (Axios)

• Amazon in talks to become anchor investor for Arm IPO (YF)

• Companies say organized retail theft is on the rise, but no way to prove it (CNBC)

• Wall Street RTO crackdown could backfire (Reuters)

• Bob Iger’s plans to save Disney aren’t working out (CNN)

• IPO investors are putting money to work (BB)

• It’s been a great earnings season (Fox)

• A Lehman lesson for bankers being laid off (BB)

• What are loud laborers and are they worse than quiet quitters? (CNBC)

• Wheels Up flags inability to continue operations, shares tank (Reuters)

_{BOOK OF THE DAY}

Hidden Genius

After five years of writing The Profile, Polina Marinova Pompliano has studied thousands of the most successful and interesting people in the world and examined how they reason their way through problems, unleash their creativity, and perform under extreme pressure.

The highest performers don’t use tricks or hacks to achieve greatness. They use mental frameworks that fundamentally change the way they see the world. They’ve learned how to unlock their hidden genius in order to reach their full potential.

This book will help you do the same. After learning from the world’s most successful people featured inside, you will have a mental toolkit to help you tackle thorny problems, navigate relationships, and use creativity and resilience in times of uncertainty.

“A joyful ride through the worlds of extraordinary achievers.”

_{ENLIGHTENMENT}

Short Squeez Picks

• How marathon running can show you how to start a business

• Trader Joe’s frozen desserts ranked from worst to best

• Four things regret can teach you about yourself

• How to stop a loop of worrying thoughts

• Everything is cyclical 

_{DAILY VISUAL}

Lottery Fever Cools as Jackpot Records Become Common

_{SPONSORED BY DOMAIN MONEY}

Exploit This Billionaire Wealth Hack

78% of billionaires say that professional advice is crucial to handling their wealth.

But what if you don’t have Bezos-level bucks to get white-glove money management?

No sweat. Meet Domain Money.

Domain Money personally matches you with your own dedicated financial advisor to handle your investing, cash flow, taxes, insurance and more.

You can text, chat or FaceTime your Domain advisor whenever you want for just $79/month.

No hidden fees or investment minimums.

Traditional advisors charge thousands for a couple of awkward lunch meetings in a stuffy office. Yeah…no thanks.

People can’t get enough of Domain’s revolutionary app. Want proof?

So sign up today for today for Domain Money - #1 in the App Store’s Essential Finance Apps, Best Apps for Investing and Best App for Taxes.

Bonus: Short Squeez subscribers can use this exclusive link to skip the waitlist.*

_{DAILY ACUMEN}

Forward Focus

Ever feel weighed down by yesterday's drama? Seriously, yesterday is heavy. Just put it down.

We've all been there, stuck on replay about what happened. But that's old news.

An old boss of mine used to say, "The past? Interesting, but let's not dwell." Sure, it's a lesson book, but it doesn't set our GPS for tomorrow.

If you're always looking back, you'll miss what's right in front of you. Life's all about choices. I started making better ones and, man, the days got brighter.

_{JOB BOARD}

Featured Jobs

• Goldman Sachs - Associate, Global Banking & Markets - New York, NY

• DTCC - Senior Associate, Financial Audit - Jersey City, NJ

_{MEME-A-PALOOZA}

Memes of the Day