🍋 Remote Rivalries

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Good Morning and Happy Cinco de Mayo to all those who celebrate! TD calling off its $13.4 billion merger with First Horizon led to even more unease about the banking system. But inflation worries aren’t stopping consumers from buying the latest iPhones, and Apple had an even better quarter than analysts expected.

Streamers say they’re not really sweating the writers strike yet. And the IPO market is starting to give investors a glimmer of hope - Kenvue, the maker of Tylenol, rose 22% in its debut as the biggest IPO of 2023 so far.

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1. Story of the Day: Remote Rivalries

A new Bloomberg survey on office politics is in - and it turns out working-from-home wasn’t the saving grace many workers were hoping for. Working from home was supposed to be a cure for toxic office politics. But as it turns out, the same destructive behaviors that plague traditional workplaces have simply gone virtual.

The recent Bloomberg survey found that 50% of American workers think the negative effects of office politics haven’t improved since the start of the pandemic, while another 25% of workers think they’ve gotten even worse.

Experts say that, because remote workers get less face time with managers, they’re more likely to suck up and jockey for managers’ attention through excessive flattery. Workers even say rumor-spreading can reach a whole new level with Slack and other instant messaging platforms.

40% of workers have considered leaving their organization because of office politics, with 25% actually following through. Corporate America is inherently political - but it’s starting to wear on some employees.

2. Markets Rundown

_{For access to Wall Street insider interviews, industry deep-dives, premium research/resources and weekly Knowledge Drop newsletter, check out our Insiders membership.}

Dow went negative for 2023, over US regional banking worries.

Movers & Shakers

• (+) Shopify ($SHOP) +24% after the company posted strong sales growth.

• (–) Paramount Global ($PARA) -28% after a weak earnings report and dividend cut.

• (–) PacWest ($PACW) -51% after concerns over the bank’s viability.

Private Dealmaking

• Cohere, a generative AI startup, raised $250 million

• Advance Intelligence Group, a Singaporean fintech, raised $80 million

• Novidea, an Israeli insurtech, raised $50 million 

• Foretellix, a developer of vehicle verification services, raised $43 million

• Tarabut, an open banking startup, raised $32 million

• Cyclic Materials, a rare earth elements recycler, raised $27 million

• Innovamat, a learning platform for students, raised $21 million

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3. Top Reads

• HSBC fights to stay in one piece (NYT)

• Is JPMorgan banking sector’s hero or its biggest risk? (CNN)

• Everyone in banking space a little too happy (YF)

• Private credit muscles out banks, with worrisome consequences (BB)

• The regional banking crisis is expanding (Axios)

• TurboTax paying $141 million for taxpayers who could have filed for free (WSJ)

• Former Google CEO on AI’s risk and potential (YF)

• Service sector class back after Covid shift towards goods (Axios)

• Crypto has lost its shine for institutional investors (CNBC)

• Bank plunge tests predictions that worst of crisis is over (YF)

4. Book of the Day: How To Invest In Startups

Did you know that with just $100 you can invest in high growth startups just like Mark Cuban and Mr. Wonderful do on Shark Tank?

According to Jeff Bezos, the founder of Amazon, the first 20 or so outside investors put in around $50,000 each for a stake of a little less than 1% of the company at the time. If those early investors had held on to their entire stakes, their shares could be worth over $10 Billion dollars today!

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How to find billion-dollar startups

Where to invest in startups online

How to evaluate entrepreneurs

Due diligence checklist

How to write your investment thesis

How much money to invest

How to get started investing in startups

Ownership in startups is how the most successful entrepreneurs and investors built their wealth. By investing in startups, you can have a higher potential ROI than the stock market, real estate and even cryptocurrency!

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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

• ​​4 mindset shifts that will boost your confidence

• Does being right matter?

• 8 Japanese techniques for overcoming laziness

• Happiness is the wrong question

• Why staying busy feels safe

6. Daily Visual: US New Vehicle Inventories Rising: Discounts Could be Next

US new vehicle inventories

_{Source: Axios}

7. Daily Acumen

Making smart decisions is crucial for success in both our personal and professional lives. However, being intelligent doesn't necessarily mean that we always make the right choices. In fact, research shows that even smart people can make terrible decisions.

One of the reasons for this is that we often let our emotions cloud our judgment. Emotions like fear, anger, and excitement can influence our decisions in ways that we don't even realize. To make smart decisions, it's important to take a step back and examine the situation objectively.

Another factor that can lead to poor decision-making is our tendency to rely on heuristics, or mental shortcuts. While heuristics can be useful in some situations, they can also lead us astray when the situation is more complex. To avoid this, it's important to take the time to gather all the relevant information and weigh all the options before making a decision.

Finally, it's important to recognize that no decision is ever completely risk-free. Even the smartest people can make mistakes, so it's important to learn from our failures and make adjustments as we go.

So, if you want to make smart decisions, remember to stay objective, gather all the information, and be prepared to learn from your mistakes.

8. Memes of the Day

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