Good Morning! Wall Street analysts are finally reaching a consensus - AI will drive the stock market higher - and they’re revising their S&P 500 targets accordingly. And BlackRock filed paperwork to launch a crypto ETF, in a move that could be a lifeline for the crypto market.

Netflix wants to start streaming HBO shows, and rescue hopes for the Titanic sub hinge on new banging sounds. And the most expensive home in the country, a $250 million Bel-Air mansion just hit the market.

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.

_{SQUEEZ OF THE DAY}

Engagement Economy

What do engagement rings tell us about the economy? It turns out, maybe a lot. Signet Jewelers, a prominent name in the industry, has had a rough few quarters. And they’re blaming the pandemic as the reason fewer Americans are buying engagement rings.

So the logic goes, fewer Americans are buying engagement rings in 2023 because they were under lockdown in 2020 and didn’t get to meet their would-be spouses. Additionally, the shift in societal norms towards more casual relationships, accelerated by the isolation of lockdown, could also be influencing this trend.

But you can’t count out inflationary pressures as a reason why. Americans have less purchasing power and, feeling the squeeze, might be cutting out expensive engagement rings and wedding extras.

Takeaway: As we found out last week with the post-Covid surgery boom, we’re definitely feeling some ripple effects of the pandemic well into 2023. Or perhaps there is a broader trend at play here, where people are shifting to cheaper alternatives or living together and not getting married due to the high costs of wedding.

_{CAPITAL PULSE}

Markets Rundown

Stocks closed lower over concerns of further rate hikes.

Movers & Shakers

• (+) MicroStrategy ($MSTR) +6% after the enterprise software company made a big bet on crypto.

• (+) Petrobras ($PBR) +5% after Goldman Sachs upgraded the Brazilian oil company.

• (–) Tesla ($TSLA) -6% after a downgrade by Barclays.

Private Dealmaking

• Aledade, a network of primary care practices, raised $260 million 

• HighFive, a specialty dental partnership organization, raised $100 million

• Attovia Therapeutics, a biotech food used on immune-mediated disease and cancer, raised $60 million

• Render, a cloud platform for app developers, raised $50 million 

• Yendo, a credit card collateralized by car ownership provider, raised $24 million

• Beehiiv, our newsletter platform, raised $12.5 million

_{SPONSORED BY BUENA FE}

Investing in Tequila Isn’t Just For Celebrities

Unless you've been living under a rock for the last two years, it certainly seems as if every celebrity has their own tequila company. Tequila has been on an unstoppable rise in popularity, and the excitement just keeps on flowing.

But that's not all. The other cool kid on the block is spirit-based ready-to-drink (RTD) products. Remember the splash White Claw and Truly made? Well, now folks are getting savvy and swapping these beer-cousins for higher quality spirit-based drinks.

So, here's where Buena Fé comes in, riding this wave with its organic, tequila-based RTDs. But get this - they're not playing around with any second-rate mixto tequila. No sir, Buena Fé's all about the real deal - 100% agave tequila.

These guys hit the scene in 2022 and have already made a splash in 12 states, scoring deals with major chains like Albertsons and Total Wine. Their impressive leadership team includes the former President of Mike's Hard Lemonade.

Buena Fé is inviting you to join the party and be a part of their growth and expansion. They're raising capital through crowdfunding, so you can become a proud owner of a tequila company*, and receive some excellent perks (including their “I’m not a celebrity but I do own a Tequila company” tee).

Unleash your inner celebrity and own a tequila company today.

_HEADLINES

Top Reads

• Goldman Sachs Asset Management head of healthcare to leave (Reuters)

• Amazon duped millions of consumers enrolling in Prime (YF)

• SoftBank to go on offense for AI (Axios)

• These AI humans are letting gamers modify their voice in real time (CNBC)

• Kevin Hart eyed his next $100 million investment (YF)

• Powell expects more Fed rate hikes ahead as inflation fight has long way to go (CNBC)

• China’s economy may have slipped into a liquidity trap (Axios)

• The retail industry’s biggest problem is about to become a huge opportunity (YF)

• Greedflation is the new inflation as corporate profits balloon (Hill)

• Is the inflation battle won? Not yet (NYT)

_{BOOK OF THE DAY}

The Power of Money

Money issues dominate the news, but economic jargon and the complexity of it all can be bamboozling. Leading economist Paul Sheard is known for his ability to see the forest and the trees and demystify complex economic phenomena.

With The Power of Money, Sheard empowers readers to become better-informed economic citizens by providing context for some of the biggest questions surrounding money, such as:

How does money come into existence?

How is the process of money printing governed?

Does government debt ever have to be repaid?

Are financial crises bound to happen sometimes?

Can the euro, a currency without a government, survive in its current form?

Are proposed cures for economic inequality worse than the disease?

What is the future of money—are cryptocurrencies going to change everything?

Financial enthusiasts and non-specialists alike will be surprised by the answers to these questions. The Power of Money provides a comprehensive foundation of knowledge to help you feel better informed and more confident as you follow and engage in economic and financial affairs and policy debates.

“Money permeates our everyday lives—it literally makes the economic world go round—and yet confusion and controversy about money abound.”

_{ENLIGHTENMENT}

Short Squeez Picks

• 10 of the best Dartmouth courses you can take for free

• Why Gen-Z struggles to make and keep friendships

• The caffeine content of 31 popular energy drinks ranked

• Your future self might not want the life you’re planning for them

• How to create a winning pitch deck in 5 steps

_{MESSAGE FROM MECO}

Inbox for Newsletters

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Meco is completely free and available on iOS and the web (desktop).

Over 10k readers enjoy their newsletters (and decluttering their inboxes) with Meco - try the app today.

_{DAILY VISUAL}

UK Consumer Prices Index

_{DAILY ACUMEN}

The father, the son, and the car

A father gifts his son an old beat-up car. He says ‘I don’t know if it drives or not but you can take it to the dealership to see if you can make some money.’

The son goes to the dealership and they offer him $1,000 for it. He comes home, tells his Dad, and his Dad says ‘Go to the impound yard where they break up cars for metal. See what they’ll give you.’

The son goes there and is offered $500 for it. He comes home, tells his Dad, and his Dad says ‘Go to that antique dealership. See what they’ll give you at their used car lot.’

He talks to the guy, comes home, and says ‘Dad, you won’t believe it! This is a rare car. There’s only 10 of them left. It’s worth $100,000!’

The father smiles and says ‘The lesson I want you to know is that it’s not necessarily who you are but who values you the most.’

_{MEME-A-PALOOZA}

MEMES OF THE DAY