🍋 Lights, Camera, Transaction

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Good Morning! Happy Memorial Day Weekend! Summer is finally here, and it’s poised to become a record one for travel. Some economists think the AI explosion can save the stock market - and the economy as a whole.

But speaking of AI, New York City says they’ll restrict the use of AI in hiring decisions. A new report found that First Republic’s comp structure was so incentive-heavy that some bankers were earning $35 million, more than even what Jamie Dimon made last year. And Germany, the world's fourth-largest economy, is officially in a recession - a warning for the global economy.

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.

1. Story of the Day: Lights, Camera, Transaction

American e-commerce companies have an important question - how do you grow with all signs pointing to an economic recession? But some companies see how successful live shopping has grown (to the tune of a $700B industry in China) and are hoping to capitalize here in the States.

Live shopping entails a live stream on social media apps like TikTok, Facebook, or Instagram. E-commerce companies advertise products in real-time, and consumers can buy new products without ever having to leave the app. Companies are launching live shopping in the U.S. market, and it's projected to bring in $32 billion in sales this year.

Companies are targeting Gen-Z. Poshmark and Amazon are all-in and claim they're getting hundreds of thousands of viewers per episode.

But live shopping faces stiff competition in the United States, fiercely contested by not only traditional linear TV and streaming channels but also the alluring realm of social media. In this cutthroat arena, companies are fighting tooth and nail to capture consumers' precious attention and hard-earned money.

Some American companies have already retreated from the live shopping frontlines. Meta pulled the plug on Instagram's once-promising live shopping feature in March. And TikTok has been cautiously testing its live shopping tool. But despite its immense popularity and vast user base, the rollout of TikTok Shop has been mired in sluggish progress.

Shopping isn’t just about the transaction - it’s about the experience, too. But it’s anyone’s guess if live shopping can catch on in the U.S.

2. Markets Rundown

Stocks closed higher after Nvidia sparked a tech rally.

Movers & Shakers

• (+) Nvidia ($NVDA) +24% after strong Q1 on chip boom.

• (+) Dish Network ($DISH) +7% because the company plans to sell wireless on Amazon.

• (–) Dollar Tree ($DLTR) -12% after the company missed on earnings and slashed full-year profit outlook.

Private Dealmaking

• ElevateBio, a cell therapies developer, raised $401 million

• Nymbus, a digital transformation solutions provider, raised $70 million

• TISSIUM, a tissue reconstruction startup, raised $54 million

• OnKure, a precision oncology startup, raised $54 million

• Elementl, a data orchestration platform, raised $32 million

• Kelvin, a heating efficiency startup, raised $30 million

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3. Top Reads

• U.S. corporate profits continue to drop (Axios)

• What Wall Street is saying after Nvidia’s record-setting guidance (YF)

• How the streaming wars became a different type of battle (YF)

• Inside the SVB layoffs (Axios)

• JPMorgan fires 1,000 First Republic employees (Reuters)

• Markets yawn at debt ceiling risk (Axios)

• Cruises are now packed like sardines (WSJ)

• Abercrombie is back like it’s 1999 (CNN)

• Just how bad would a debt ceiling breach be? (Vox)

• Summer travel will be busy and pricey (BB)

4. Book of the Day: Ask More

What hidden skill links successful people in all walks of life--across cultures, industries, generations . . . all of time? The answer is surprisingly simple: they know how to ask the right questions at the right time.

Questions help us break down barriers, discover secrets, solve puzzles, and imagine new ways of doing things. The right question can provide for us not only the answer we need right then but also the ones we’ll need tomorrow.

Emmy award–winning journalist and media expert Frank Sesno wants to teach you how to question others in a methodical, intentional way so that you can find the same success that others have found by mastering this simple skill.

From the author’s illuminating interviews that he has included in the book, you will learn how the Gates Foundation used strategic questions to plan its battle against malaria, how turnaround expert Steve Miller uses diagnostic questions to get to the heart of a company's problems and how creative questions animated a couple of techie dreamers to brainstorm Uber.

By the end, you’ll know what to ask and when, what you should listen for, and what you can expect as the outcome.

“What hidden skill links successful people in all walks of life? They know how to ask the right questions at the right time.”

5. Short Squeez Picks

• Daloopa is giving Short Squeez readers access to ten financial models (any public company) if you sign up for a free account on their website

• How to use emotional intelligence to become persuasive

• The advice Michelle Yeoh gave at Harvard’s commencement

• How to successfully negotiate for cheaper rent

• SMART goals can sabotage career success - what to do instead

• How to reclaim playful self and find more joy

6. Daily Visual: Return of Working Moms Defies Pandemic Expectations

US mothers labor force participation rate

_{Source: Axios}

7. Daily Acumen

“Everyone is a perfectionist when they care enough.

If you're not obsessed with it, you'll never master it.

The reason you won't master it is because you won't care enough to be a perfectionist.”

_{Source: Farnam Street}

8. Memes of the Day

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