🍋 Human Capital

Why recent college grads shouldn't be worried about getting jobs, plus Cava made its IPO, plus trouble at Goldman and Citi.

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“In a marketplace, perception is more powerful than reality.” — Naved Abdali

Good Morning! The stock market is still on fire, surging to its highest level since 2022 yesterday. Cava soared as much as 117% during its stock market debut yesterday. And private equity firm KKR and publisher HarperCollins are both bidding for Simon & Schuster. But investment banks had a rough go of it yesterday. Citi will cut another 5k jobs amidst the dealmaking slump. And Goldman found itself in some hot water over its involvement in SVB’s final days.

Summer's all about tequila, right? But what if you could also own the bottle it comes in? Invest in today’s sponsor, Buena Fé and turn your tequila sips into shares.

1. Story of the Day: Human Capital

 

You can’t blame recent college graduates for feeling a little uneasy about their job prospects in the AI era. But ironically, while companies pursue AI at a rapid pace, employers are more than ever actually seeking and prioritizing skills that AI cannot easily replicate.

When it comes to job postings for new college graduates, the number one skill that employers consistently request is the ability to communicate effectively. A staggering 44% of these postings emphasize the importance of communication skills. Additionally, 28% of employers are looking for demonstrated management ability, while 27% value customer service experience.

Surprisingly, despite the widespread adoption of AI by companies, there is little evidence of employers actively seeking AI skills in their job postings for new grads. The demand for skills that involve human interaction and interpersonal relationships remains high.

Moreover, recent grads need not fret too much about the job market. Although there are signs of it becoming more competitive, the retirement of older workers during the pandemic has opened up numerous opportunities for younger talent. Many of these retirees are not returning to the labor force, creating a favorable environment for recent grads.

Takeaway: When it comes to filling entry-level roles, it’s all about hiring the right people. Some industries like investment banking and management consulting even care less about your major and more about your leadership and interpersonal skills. The reason? Most firms want to teach business (and now AI applications) their way. So good news for recent job candidates, as the market’s looking pretty favorable.

2. Markets Rundown

Stocks rallied after investors shook off the hawkish Fed.

Movers & Shakers

  • (+) Cava Group ($CAVA) +99% after the Mediterranean food chain made its initial IPO.

  • (+) Dominos ($DPZ) +6% after Stifel upgraded the pizza chain to buy from hold.

  • (–) Kroger ($KR) -3% after its CEO says budget-conscious shoppers are buying fewer groceries.

Private Dealmaking

  • EliseAI, an AI platform for real estate, raised $35 million

  • Ceibo, a developer of copper extraction technologies, raised $30 million

  • Percent, a credit marketplace, raised $29.7 million

  • Mosaic, a financial decision-making platform, raised $26 million

  • Paro, a marketplace for freelance finance professionals, raised $25 million 

  • Praktis, a supply chain solutions provider, raised $20 million

A Message from 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 FĂ© 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 FĂ©'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).

3. Top Reads

  • NYC’s rent prices defied by new grads pursuing TikTok lifestyle (BB)

  • Money helps to build brain power (WSJ)

  • Nobody’s happy with NYC’s $18/hour delivery worker minimum wage (TC)

  • 15 of the most profitable hedge funds (YF)

  • California pension fund looks to boost VC investments despite tech turmoil (CNBC)

  • Nvidia’s GPUs are so hard to get that rich VCs are buying them for their startups (YF)

  • Regional banks face years of trouble (WSJ)

  • LIV’s struggles show TV networks want sports - just not all sports (YF)

  • Software valuations continue trending upwards (TC)

4. Book of the Day: The Formula

In the bestselling tradition of Malcom Gladwell, James Gleick, and Nate Silver, prominent professor László Barabási gives us a trailblazing book that promises to transform the very foundations of how our success-obsessed society approaches their professional careers, life pursuits and long-term goals.

Too often, accomplishment does not equal success. We did the work but didn't get the promotion; we played hard but weren't recognized; we had the idea but didn't get the credit.

We convince ourselves that talent combined with a strong work ethic is the key to getting ahead, but also realize that combination often fails to yield results, without any deeper understanding as to why.

Recognizing this striking disconnect, the author, along with a team of renowned researchers and some of the most advanced data-crunching systems on the planet, dedicated themselves to one goal: uncovering that ever-elusive link between performance and success.

“Performance drives success, but when performance can’t be measured, networks drive success.”

5. Short Squeez Picks

6. Daily Visual: Share of CEOs Who Think It’s a Good Time to Take Risks

Source: Axios

7. Daily Acumen

Start your day with purpose and avoid the immediate allure of social media. The first actions you take have a significant impact on your energy and overall day. By focusing on important tasks before checking social media, you create a positive spiral of productivity and happiness.

Identify the most important task: Determine the one task with the greatest significance for your day.

Do it first thing: Dedicate your initial energy to completing this task before checking social media.

Harness positive momentum: Starting the day with meaningful action sets the stage for a productive and fulfilling day.

Stay consistent: Make completing your priority task each morning a consistent habit.

Delay social media: Recognize the superficial rewards of social media and prioritize meaningful accomplishments.

Focus on desired rewards: Seek fulfillment from meaningful tasks that align with your goals and values.

By prioritizing meaningful action and delaying social media, you create a positive cycle of productivity and fulfillment. Start each day with intention, accomplishing important tasks before engaging with distractions, and reap the rewards of a productive and purposeful life.

8. Memes of the Day

 

 

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*Sponsored content, Short Squeez has been compensated by Pure Brands Company.

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