Good Morning! Fed is not ready to cut rates yet but forecasts reductions in 2024. OpenAI and Elon Musk drama is heating up, with OpenAI sharing Musk’s emails. New York Community Bank’s stock cratered 40% on the news it’s hunting for cash - but Steven Mnuchin ultimately gave the bank a $1 billion lifeline. Plus, the SEC just issued new climate disclosure rules, and what it means for investors. Plus common job descriptions that are red flags, and how to turn disappointment into motivation.

Streamlining the hospitality sector with AI: Jurny is targeting over $1 trillion of inefficiencies in the hospitality sector, and readers can invest now for a limited time.

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Reddit is About to Find Out

Reddit’s 15 million users on its r/wallstreetbets forum put the company on the map.

The "apes" and "degenerates" of r/wallstreetbets helped popularize meme stocks like GameStop and AMC back in the glory days of trading in 2021.

The forum is notorious for screwing over professional investors on Wall Street and making them lose money for betting against certain companies. Just ask Gabe Plotkin who lost his hedge fund battling the degens.

Now Reddit is going public and its strongest asset could become the very thorn that takes it down. Members of r/wallstreetbets forum are threatening to tank the company's stock post-IPO.

While the reasons can be as simple as “we don’t like the stock,” some users have pointed out Reddit’s lack of profitability and think the company is overvalued at its targeted valuation of $6.5 billion.

An IPO could also lead to even more moderation on Reddit’s forums, which r/wallstreetbets users oppose. They are also against Reddit’s use of volunteer moderators.

Interestingly, Reddit listed r/wallstreetbets as one of the possible risks to investing in the company in its S-1 form.

Many r/wallstreetbets members appear to agree. A top post on the subreddit — “Reddit lists WSB as a risk factor for its IPO 😏” — has thousands of comments with one user accurately noting: “This could be f—king wild.”

Takeaway: Reddit’s warning in its S-1 and specifically pointing out r/wallstreetbets could become a self-fulfilling prophecy.

In an unusual move, Reddit is also giving 75k of its most devoted users access to insider shares before they start trading in the open market. What’s even crazier is that the shares will not be subject to any lock-up restrictions, where early investors are banned from selling their stock to prevent the price from going down. Reddit may about to find out why the stock market is referred to a “casino” on r/wallstreetbets.

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Beyond Nvidia: Explore AI’s Hidden Jewels

With Google Bard, ChatGPT and the like sculpting the future of nearly every industry, VCs are betting big, pumping billions into AI startups with huge potential growth. 

But profiting from the AI wave isn’t just for major players–savvy investors can take advantage, too. 

Jurny and its AI-powered platform is streamlining hotel and short-term rental operations, targeting over $1 trillion in inefficiencies.

With customers already reporting improvements upwards of 80%, are we surprised Jurny has the backing of leading investors Mucker Capital, Okapi Venture, and others?

Over $12 million in capital has already poured in, but there’s still time to jump aboard. 

Secure your investment by March 7th to qualify for up to 20% bonus shares.

_HEADLINES

Top Reads

• Rate cuts likely at 'some point' this year (YF)

• OpenAI claps back at Elon Musk (CNBC)

• Steven Mnuchin leads $1 billion attempt to rescue NYCB (YF)

• What the SEC vote on climate disclosures means for investors (CNBC)

• NYCB stock plunges amid report of attempted capital raise (YF)

• Cryptocurrencies recover after bitcoin retreats from new record (CNBC)

• Why retail has lost its sparkle for private equity firms (YF)

• Hospital debacle puts focus on private equity (Axios)

• There’s a gold rush on Wall Street (CNN)

• Andreessen Horowitz nears $7 billion fundraise (Axios)

• Private payrolls rose by 140,000 in February, less than expected (CNBC)

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Markets Rundown

Stocks closed higher because of hope of rate hike cuts.

Movers & Shakers

• (+) Crowdstrike ($CRWD) +11% after the cybersecurity company posted strong earnings and guidance.

• (+) Palantir Technologies ($PLTR) +10% because the software company won a government contract.

• (–) Foot Locker ($FL) -29% after the retailer posted a holiday quarterly loss, delayed a key financial target.

Private Dealmaking

• Viavi Solutions bought Spirent Communications, a telecom testing firm, for $1.3 billion

• Cadence Design Systems bought BETA CAE Systems International for $1.24 billion

• Monzo, a British digital bank, raised $433 million

• Sunfire, an electrolyzers maker, raised $340 million

• RapidSOS, an emergency response data platform, raised $75 million

• DTEX Systems, a risk management company, raised $50 million

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

_{BOOK OF THE DAY}

Radical Candor

You don't have to choose between being a pushover and a jerk. Using Radical Candor―avoiding the perils of Obnoxious Aggression, Manipulative Insincerity, and Ruinous Empathy―you can be kind and clear at the same time.

Kim Scott was a highly successful leader at Google before decamping to Apple, where she developed and taught a management class.

Since the original publication of Radical Candor in 2017, Scott has earned international fame with her vital approach to effective leadership and co-founded the Radical Candor executive education company, which helps companies put the book's philosophy into practice.

Radical Candor is about caring personally and challenging directly, about soliciting criticism to improve your leadership and also providing guidance that helps others grow. It focuses on praise but doesn't shy away from criticism―to help you love your work and the people you work with.

“New York Times and Wall Street Journal bestseller multiple years running.”

_{DAILY VISUAL}

Americans Top Obesity League Tables

_{SHORT SQUEEZ INSIDERS}

Top 10 Things I Learned in Investment Banking

In this week's edition of Insiders, I dive into my own experiences from the intense yet retrospectively valuable period of my investment banking career.

For those new to Insiders membership, we dive into the intricacies of finance careers, and share some essential tips for making your way through the ruthless corporate waters.

Here are my top 10 takeaways from my investment banking days – in no particular order.

#1 - Facetime is Important as an Analyst

Despite what everyone tells you (especially banking HR teams) face time is important early on in your career on Wall Street. First impressions are lasting impressions and a 1st year analyst leaving at 6pm, despite having no work, is just not a good look. You will be (silently) judged for it by everyone.

_{DAILY ACUMEN}

Catastrophic Thinking

In today's fast-paced and often overwhelming world, catastrophic thinking has become a prevalent challenge for many individuals. This cognitive distortion involves assuming the worst possible outcomes in various situations, leading to heightened anxiety and stress.

Whether it's fretting over minor social interactions or catastrophizing about future events, this thought pattern can significantly impact mental well-being and hinder problem-solving abilities.

Recognizing when one is engaging in catastrophic thinking and implementing strategies like mindfulness, cognitive reframing, and problem-solving techniques can help individuals regain control over their thoughts and emotions, leading to a more balanced and resilient mindset.

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Short Squeez Picks

• 5 ways to succeed despite a lack of support for career development

• How to turn disappointment into motivation

• 33 powerful books that might change your life

• Common job descriptions that are red flags 

• 9 habits the longest-living people abide by

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Memes of the Day