Good Morning! Tesla will recall 2 million cars because of an autopilot software issue. The Fed’s keeping rates steady and hinting at 3 cuts coming in 2024. The Dow hit an all-time record on the news, breaking the 37k barrier. Private equity firms are losing control of portfolio companies in court as bankruptcies skyrocket. Plus 7 unexpected self-discipline perks, why raw talent might not be your golden ticket to unlocking potential, and Short Squeez 2023 Wrapped (we hit ~40m impressions!)

Don’t let hearing loss ruin your holidays. Give them (or yourself) the latest, most discreet hearing aid loved by 300,000+ customers and counting from hear.com.

_{SQUEEZ OF THE DAY}

Newest Goldman Interns

A few finance bros did some digging on the internet - and it turns out both of Rupert Murdoch’s daughters will be investment banking summer analysts at Goldman this summer.

Murdoch is 92 years old. And he was in his 70s when he had two daughters that are now juniors at Stanford and Yale. 

In 2017, he gave Goldman the lead advisor role on his $71.3 billion sale of 21st Century Fox to Disney - so safe to say he made some friends at the firm.

You gotta hand it to Chloe and Grace Murdoch. With their dad’s $18 billion fortune, they could be sipping Mai Tais on the beach - or doing literally anything they want. But instead of coasting on an easy career path, they’re willingly choosing to do investment banking.🫡

Takeaway: A lot of bankers will tell you they chose investment banking for the steep learning curve, building a solid work ethic etc…. but nobody actually believes it. It looks like the Murdoch girls are proving the haters wrong.

So instead of teaching yoga in Bali or pursuing a career on TikTok…the Murdoch daughters will be aligning PowerPoint logos and answering pls fixes all summer.

_{SPONSORED BY HEAR.COM}

Hearing Loss? You Can Help Them Hear Again

Let’s be honest: What does Dad really want for the holidays? A new sweater, or…

Crystal-clear hearing from a device so discreet, no one will even notice. 

The Horizon by hear.com is *not* your typical hearing aid–it’s German engineered to process noise and speech separately, delivering maximum speech clarity with minimal background noise.

Bluetooth capable, wireless charging, dual processing… Over 300,000+ people are hearing effortlessly again, thanks to these cutting edge devices.

Make it the best holiday ever–give the joy of hearing with Horizon by hear.com.

_HEADLINES

Top Reads

• Dow hits 37,000 for the first time (CNBC)

• Disney and Comcast increase ad spending on Instagram (YF)

• Private equity sitting on record $2.59 trillion of dry powder (MW)

• China turns the tables on Wall Street (WSJ)

• Employers are doing stealth layoffs now (Axios)

• Fed holds rates steady, indicates 3 cuts coming in 2024 (CNBC)

• Tesla recalls 2 million vehicles over autopilot software malfunction (Axios)

• Private equity firms hand over company keys as defaults rise (BB)

• Why you should get out of cash during Fed pause (YF)

• Bill Ackman’s ruthless quest to oust college presidents (WSJ)

• Blackstone sweetens $3 billion private loan to fend off banks (BB)

_{CAPITAL PULSE}

Markets Rundown

Stocks closed higher and the Dow hit an all-time high after positive inflation data.

Movers & Shakers

• (+) Xponential Fitness ($XPOF) +15% after the CycleBar owner was upgraded by Stifel.

• (+) Vertex Pharmaceuticals ($VRTX) +13% after a trial of its opioid alternative drug was successful.

• (–) Southwest Airlines ($LUV) -4% after the airline expects higher fuel costs this quarter.

Private Dealmaking

• True Anomaly, a satellite maker, raised $100 million

• Essential AI, an AI product developer, raised $56.5 million

• Tacto, an AI solutions developer for supply chains, raised $54 million

• Stayntouch, a hotel management system provider, raised $48 million

• Dust Identity, a product authentication startup, raised $40 million

• Lendo, a debt crowdfunding marketplace, raised $28 million

For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.

_{BOOK OF THE DAY}

The Book Of Charlie

When a veteran Washington journalist moved to Kansas, he met a new neighbor who was more than a century old. Little did he know that he was beginning a long friendship—and a profound lesson in the meaning of life. Charlie White was no ordinary neighbor. Born before radio, Charlie lived long enough to use a smartphone.

When a shocking tragedy interrupted his idyllic boyhood, Charlie mastered survival strategies that reflect thousands of years of human wisdom. Thus armored, Charlie’s sense of adventure carried him on an epic journey of the Jazz Age, racing aboard ambulances through Depression-era gangster wars, improvising techniques for early open-heart surgery, and cruising the Amazon as a guest of Peru’s president.

David Von Drehle came to understand that Charlie’s resilience and willingness to grow made this remarkable neighbor a master in the art of thriving through times of dramatic change. As a gift to his children, he set out to tell Charlie’s secrets. 

The Book of Charlie is a “genuinely original, formula-shattering” (Bob Woodward) gospel of grit—the inspiring story of one man’s journey through a century of upheaval. The history that unfolds through Charlie’s story reminds you that the United States has always been a divided nation, a questing nation—a nation of Charlies in the rollercoaster pursuit of a good and meaningful life.

“Original and highly readable account of a splendid American life.”

_{SHORT SQUEEZ 2023 WRAPPED}

Short Squeez Hit 40 Million Impressions and 200k Subscribers 😮‍💨

 Top Content:

1. JPMorgan Takes on Buyside - 178.7k impressions

2. Goldman VP Gets 3-Year Sentence - 178.4k impressions

3. Elon Played Your MD - 178.2k impressions

_{SPONSORED BY ECKARD}

The Leader in Mineral Rights Investing

Why weren't mineral rights open to high-net-worth investors a decade ago?

• Tech: Only 13 years ago did we achieve 95% exploration success. Before? High risk.

• Shale Exploration: A budding $1-2 trillion asset class.

• Big Players: Wall Street overshadowed smaller firms like Eckard.

Now, with Eckard's 37-year legacy:

• Dive into the mineral rights world.

• Own subsurface minerals, akin to real estate.

• Enjoy passive royalties and monthly distributions.

Boasting a 16%+ ROI and 1300+ investors, Eckard stands out. 

Investments start at $25k, with many most choosing to invest $400k over 18 months.

Fill out this form and step into the future of passive income with Eckard.

_{DAILY ACUMEN}

5-Hour-Rule

In the grand symphony of our 24-hour day, the 5-hour rule stands out as the virtuoso solo—a melody that successful individuals, from Benjamin Franklin to Elon Musk, have orchestrated to turn mundane days into triumphant compositions. This rule invites us to invest one precious hour daily in the art of learning, experimenting, and reflecting, transforming the ordinary into the extraordinary.

Consider it a pocket-sized revolution against the excuse of time scarcity. While we may not all have the same number of "free hours," the 5-hour rule suggests that even in the tightest schedules, there lies a golden hour waiting to be claimed for personal growth. It's a ritual endorsed by those who carve success from the stone of daily life.

So, as the clock ticks, seize your hour wisely. Whether diving into the realms of knowledge through books, podcasts, or audiobooks, experimenting with uncharted territories, or reflecting on the symphony of successes and failures, let the 5-hour rule be your compass.

_{JOB BOARD}

Featured Jobs

• Fanatics - Analyst - New York, NY

• BlackRock - VP - New York, NY

• Bank of America - Sr. Analyst - New York, NY

_{ENLIGHTENMENT}

Short Squeez Picks

• Why keeping your word is an essential leadership skill

• How to stay true to yourself 

• Why clarity is power

• 7 surprisingly useful self-discipline benefits

• Why you shouldn’t focus on raw talent to unlock potential

_{MEME-A-PALOOZA}

Memes of the Day