🍋 Boomers Riding Solo

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Good Morning! Crypto winter is getting even worse! Crypto lender BlockFi filed for bankruptcy yesterday, and the firm said it had significant exposure to FTX.

Elon Musk says Apple threatened to withhold the Twitter app from the App Store. Apple is already down bad as it is - the company excepts to lose 6 million iPhone Pros from tumult at a China plant.

Kellogg says cereal sales slowed after a pandemic surge, and the Fed says more rate hikes are coming. We’ll hear from Mr. Powell tomorrow. And Merriam-Webster chose ‘gaslighting’ as the word of the year.

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.

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1. Story of the Day: Boomers Riding Solo

More older Americans are living alone than ever before. And that trend is starting to impact everyone.

Older people living alone is hardly new. But baby boomers and Gen Xers, now aging into retirement, make up a huge portion of the population. A recent study found that 26 million Americans 50 or older live alone - almost double what it was in 2000.

Boomers living alone are driving up housing prices for everyone. There’s a nationwide shortage of homes below 1,400 square feet. Many older Americans living solo are snagging homes with at least 3 bedrooms.

Boomers are piling up all the inventory, causing home prices to skyrocket. Many younger families are either squeezing into smaller homes or commuting long distances to make ends meet.

Takeaway: The housing shortage isn’t good for solo boomers either. Not all of them are like your divorced MD. Increasing housing costs means less consumer spending for older Americans. America's housing supply isn't matching up with the country's current demographics. Rising interest rates and a decrease in new construction won't help either.

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 after fears a Covid crackdown in China could slow global growth.

Movers & Shakers

• (+) Luckin Coffee ($LKNCY) +6% after the company is expected to overtake Starbucks in China.

• (–) Exxon Mobil ($XOM) -3% because oil prices fell to yearly lows.

• (–) Credit Suisse ($REV) -12% after bonds fell and credit-default swap prices rose.

Private Dealmaking

• Matrixport Technologies, a Singapore-based crypto lender, raised $100 million

• G1 Therapeutics raised $50 million to lift sales for its cancer drug

• Bionaut Labs, a tiny medical robot developer, raised $43 million

• Pinata, a New York-based frontline worker software platform, raised $10 million

• Shell bought Nature Energy, Europe’s largest biogas producer, for $2 billion

• Brookfield Asset Management acquired Nike supplier Trimco Group for up to $900 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...

The good news is that you can protect your teeth from grinding and clenching with a custom night guard from Remi.

How does it work? Remi sends you a kit to take your teeth impressions, and their team of in-house dental professionals will make you a set of custom night guards, delivered right to your doorstep – all for 80% less than the dentist.

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Top Reads

• Americans are still optimistic about job security (Axios)

• Embrace ambivalence when making big career decisions (HBR)

• Experts think a home price collapse is coming (Axios)

• The many reasons to be optimistic about the market - even with China wildcard (CNBC)

• Why being kind can boost your career (BBC)

• It’s later than you think (Substack)

• China, Covid, and Crude (Reuters)

• How to make time to read (Ness)

• Cyber Monday projected to break spending records (Fox)

• New Disney CEO says hiring freeze will remain in place (CNBC)

• Sunday was the busiest day at U.S. airports since before the pandemic (CNN)

• These children are making millions on YouTube (WSJ)

4. Book of the Day: A Field Guide to Lies and Statistics

We live in a world of information overload.

Facts and figures on absolutely everything are at our fingertips, but are too often biased, distorted, or outright lies.

From unemployment figures to voting polls, IQ tests to divorce rates, we're bombarded by seemingly plausible statistics on how people live and what they think.

Daniel Levitin teaches us how to effectively ask ourselves: can we really know that? And how do they know that?

In this eye-opening, accessible guide filled with fascinating examples and practical takeaways, acclaimed neuroscientist Daniel Levitin shows us how learning to understand statistics will enable you to make better, smarter judgements on the world around you.

“A big part of the problem here is that the human brain often makes up its mind based on emotional considerations, and then seeks to justify them. And the brain is a very powerful self-justifying machine.”

6. Daily Visual: Domestic Box Office Sales for Marvel Films

Source: Axios

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7. Daily Acumen

“One can refuse to pay bills, bully employees, steal credit, work the refs and look for shortcuts…

or pay bills ahead of time, elevate employees, amplify the credit of others and take the long road.

While both are modern signifiers of a certain kind of success, only one is a resilient way forward.

Ancient emperors that aspired to power often had their enemies beheaded.

The ones with real power gave them clemency.”

Source: Seth Godin

8. Crypto Corner

• The 3 biggest crypto stories to look out for this week

• Leverage means contagion - just look at crypto

• Bitcoin mining revenue hit its lowest level in 2 years

• The metaverse is a new frontier for earning passive income

• SBF’s ‘underdressed genius’ look

• Binance moved $2 billion of crypto as part of its reserves audit

9. Job Board

• Plaid - Software Engineer - Financial Institution Authentication - Remote, USA

• Hilbert Trading Inc. - Accountant - New York, NY

• IBM - Blockchain Solution Architect - New York, NY

• Citi - Digital Asset Risk Manager - London, UK

• Unit 410 - Cryptocurrency Security Engineer - Remote USA

• First Republic Bank - Associate Director, Financial Planning Platform & Operations - New York, NY

10. Memes of the Day

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