🍋 Elon Hires Mysterious Female CEO

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Good Morning! Americans are happier than ever at work with job satisfaction reportedly hitting a four-decade high (investment bankers might disagree though). And private equity firms are feeling serious FOMO after being left empty-handed by the FDIC’s sale of failed banks.

Disney Plus and Hulu announced they’ll combine into one app after Disney struggled to make money off of streaming. And Jay-Z is taking out full-page ads in multiple publications calling for a casino in Times Square.

As the summer season goes into full gear, do you want to explore the great outdoors on your very own electric bike? Check out Upway’s curated selection of e-bikes.

1. Story of the Day: Elon Hires Mysterious Female CEO

Elon Musk is on his way out as CEO of Twitter. After conducting a Twitter poll a few months ago asking users if he should step down, he followed through on his promise yesterday when he announced he handpicked a new CEO.

Musk withheld the name of the mysterious CEO-to-be but hinted at her imminent arrival in the Twitter realm come June.

And Twitter users aren’t the only ones excited about the shakeup. The news sent Tesla’s stock soaring, giving it a $5-10 billion market cap boost. Tesla investors have been concerned for a few months that Musk is too focused on Twitter.

Twitter’s CEO-in-waiting is poised to become a trailblazer. 2023 marks the first year when women finally make up more than 10% of Fortune 500 CEOs, but gender disparities still exist in finance and tech especially. Women founders in the United States receive a mere 2% of venture capital funding—an astonishingly low figure.

Twitter needs to close the relevance gap. Musk’s takeover has been unpopular, and while he’ll stay on the executive board, both Musk and Twitter users alike might need a fresh start.

2. Markets Rundown

Dow and S&P 500 fell because of Disney, regional banks.

Movers & Shakers

• (+) AppLovin ($APP) +24% after the software company announced Q1 earnings.

• (+) Goodyear ($GT) +21% after activist investor Elliott Management proposed an overhaul.

• (–) Peloton ($PTON) -9% after 2 million bikes recalled over safety issues.

Private Dealmaking

• Everseen, an Irish AI tech startup, raised $71 million

• Ecorobotix, a Chris agricultural tech startup, raised $52 million

• Duetti, a music financing startup, raised $32 million

• Pando, a fulfillment management solutions provider, raised $30 million

• ODAIA, a data analytics platform for pharmaceutical companies, raised $25 million

• Spread, an engineering intelligence startup, raised $16 million

A Message from Upway: Suns Out, E-Bikes Out

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• Competitive prices to suit every budget, so you can enjoy summer without breaking the bank

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Ready to take your summer adventures to the next level? Discover Upway’s curated selection of e-bikes and take advantage of their spring sale offering up to an extra $300 off a selection of e-bikes.

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3. Top Reads

• SoftBank shifts war chest to AI (WSJ)

• Blackstone can be the bank (BB)

• Google is firing back at Microsoft, and investors love it (YF)

• Tech’s new business model: ‘do more with less’ (CNBC)

• Private debt titans use hidden contracts to get edge on rivals (BB)

• Back-to-office battles underscore change in workplace authority (NYT)

• Jamie Dimon warns panic will overtake markets as US approaches debt default (CNBC)

• EV startups are proving Warren Buffett right (WSJ)

• Who are Zillennials? (CNN)

• The hand-picked math prodigy running Ken Griffin’s empire (BB)

4. Book of the Day: Invisible Women

Data is fundamental to the modern world. From economic development, to healthcare, to education and public policy, we rely on numbers to allocate resources and make crucial decisions.

But because so much data fails to take into account gender, because it treats men as the default and women as atypical, bias and discrimination are baked into our systems. And women pay tremendous costs for this bias in time, money, and often with their lives.

Celebrated feminist advocate Caroline Criado Perez investigates the shocking root cause of gender inequality and research in Invisible Women, diving into women's lives at home, the workplace, the public square, the doctor's office, and more.

Built on hundreds of studies in the US, the UK, and around the world, and written with energy, wit, and sparkling intelligence, this is a groundbreaking, unforgettable expose that will change the way you look at the world.

“There is no such thing as a woman who doesn’t work. There is only a woman who isn’t paid for her work.”

5. Short Squeez Picks

• Inside NYC’s most expensive zip code

• Are you drinking too much coffee?

• The nonverbal skills Gen-Z is missing

• How to disagree productively

• Are we in too many meetings?

A Message from Ark7: Get Started in Real Estate Investing Today

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6. Daily Visual: Year-over-year Change in Consumer Price Index

_{Source: Axios}

7. Daily Acumen

Two kinds of people are good at foreseeing danger: those who have learned at their own expense, and the clever people who learn a great deal at the expense of others.

The first type of person is someone who has experienced negative consequences or harm as a result of their own actions or decisions in the past. Through this personal experience, they have gained a valuable perspective on what can go wrong in certain situations and can use this knowledge to avoid making similar mistakes in the future.

The second type of person is someone who is clever and perceptive, with a keen ability to learn from the mistakes and experiences of others. They are able to observe and analyze situations objectively, looking for patterns and potential risks that others may overlook. They are skilled at learning from the experiences of others and applying that knowledge to their own lives.

Both of these types of people possess a heightened sense of awareness when it comes to potential danger or risks. They are able to anticipate and prepare for potential threats, which allows them to take proactive measures to protect themselves and others.

8. Memes of the Day

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