🍋 Rage-Applying Szn

Feeling overworked, underpaid, and bitter about being passed up for that last promotion? Do you hate your job but aren’t sure where to turn? Then the latest TikTok trend might be right up your alley. Rage applying is all the rage in 2023, and workers are shooting off their resumes en masse like a shot in the dark to see if they can land a better offer.

January 17, 2023

Together With

"I started The Boring Company as a joke, but now it’s digging real tunnels!" â€” Elon Musk

Good Morning! Hope y'all had a wonderful long weekend. The electric car revolution is revving up, with EVs now making up 10% of the automobile market. Economists may be forecasting a recession, but we might have a smoother ride than expected thanks to last month's positive inflation data. Goldman Sachs might lay off even more workers after axing 3,200 employees last week. And with more states than ever banning TikTok, the platform is scrambling to find allies here in the U.S. 

In 2022, investors lost a whopping $350 billion, while fintech unicorn Masterworks had its best year ever (returning investors $25.8 million). Masterworks is unlocking an asset class that was once only available to billionaires. Start investing in art today.

1. Story of the Day: The Resume Tsunami – Rage-Applying

Feeling overworked, underpaid, and bitter about being passed up for that last promotion? Do you hate your job but aren’t sure where to turn? Then the latest TikTok trend might be right up your alley. Rage applying is all the rage in 2023, and workers are shooting off their resumes en masse like a shot in the dark to see if they can land a better offer.

And it seems like it’s working. Instead of talking to their bosses, some TikTokers are "rage applying" to dozens, or even hundreds, of jobs in rapid succession. They're like a human version of a hail Mary pass, but instead of a touchdown, some claim they’ve scored better job offers with higher pay and less toxic teams.

"Rage applying" may sound impulsive, but younger members of the workforce are struggling to make ends meet - some economists think Gen-Z and millennials may be worse off financially than their parents. 

With inflation skyrocketing and real estate prices reaching new heights, it's no wonder young adults are struggling to save. But it's not just about the money - a new study found that Gen-Z is more likely to prioritize career fulfillment and a sense of purpose over incremental income. 

Takeaway: Despite the unique challenges younger workers face, economists say they’re less assertive with their bosses when it comes to asking for what they want, and are more likely to resort to passive methods like "quiet quitting" or "rage applying."

And many successful business tycoons share that their best business moves were staying at their firm when things got tough or they got passed over for a promotion. While there is a handful of rage-applying success stories on social media, recruiters advise caution and suggest bringing concerns to your manager first before airing grievances on TikTok.

2. Markets Rundown

Markets were closed on Monday in observance of Martin Luther King Jr. Day.

Private Dealmaking

  • OutSystems, a company that sells app development tools, raised $228 million

  • DeepL, a German AI machine translation platform, raised $100 million

  • Carbon Health, a payments platform for healthcare providers, raised $100 million

  • Paytient, a payment platform for healthcare providers, raised $63 million 

  • Capella Space, a developer of observation satellites for space, raised $60 million

  • Cardiac Dimensions, a developer of heart failure treatments, raised $35 million

A Message from Masterworks: Which Investment Platform Delivered Tens of Millions to Investors in 2022?

In the same year everyday investors lost a whopping $350 billion, Masterworks had its best year ever. Their 9 art sales returned $25.8 million to investors – a record amount. Talk about a happy new year
 

So, what did investors do with their cash? Charter a yacht in Ibiza? Finally buy that Alpaca farm upstate? Maybe save a little? Naaah.

Either way, Masterworks wants to do the same thing for you. This fintech unicorn is unlocking an asset class that was once only available to billionaires. 

To kick off the new year, Masterworks is inviting Squeez readers to open a free, no-obligation account today. Isn't it time you check them out?

See important Regulation A disclosures.

3. Top Reads

  • 9 cities where rent actually declined in 2022 (Axios)

  • 4 side hustle ideas for introverts (CNBC)

  • Goldman’s outlook for 2023 is ‘foggy’ (Axios)

  • Big banks have set aside $4 billion for a recession (YF)

  • What quiet hiring means for America’s workforce (Fox)

  • China is looking less desirable to investors (Axios)

  • Beer customers remain loyal despite rising prices (Fox)

  • Tesla cuts prices by up to a fifth to boost demand (BBC)

  • J&J slashes production of its unpopular Covid-19 shot (Reuters)

  • Is SBF losing his mind? (YF)

4. Book of the Day: The Coddling of the American Mind

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Something has been going wrong on many college campuses in the last few years. Speakers are shouted down. Students and professors say they are walking on eggshells and are afraid to speak honestly. Rates of anxiety, depression, and suicide are rising—on campus as well as nationally. How did this happen?

First Amendment expert Greg Lukianoff and social psychologist Jonathan Haidt show how the new problems on campus have their origins in three terrible ideas that have become increasingly woven into American childhood and education: What doesn’t kill you makes you weaker; always trust your feelings; and life is a battle between good people and evil people. 

These three Great Untruths contradict basic psychological principles about well-being and ancient wisdom from many cultures.  

Embracing these untruths—and the resulting culture of safetyism—interferes with young people’s social, emotional, and intellectual development. It makes it harder for them to become autonomous adults who are able to navigate the bumpy road of life.

“Education should not be intended to make people comfortable; it is meant to make them think.”

5. Short Squeez Picks

6. Daily Visual: Net International Migration to the US

Source: Axios

7. Daily Acumen: Walk Me Through a DCF...

In an interview, it is important to keep your technical overview at a high level. Start with a high-level overview and be ready to provide more detail upon request.

A discounted cash flow (DCF) analysis is a method used to estimate the intrinsic value of an investment based on its future cash flows.

The process involves forecasting the future cash flows that the investment is expected to generate and then discounting those cash flows back to their present value using a discount rate.

  1. Project out cash flows for 5 - 10 years depending on the stability of the company

  2. Discount these cash flows to account for the time value of money

  3. Determine the terminal value of the company - assuming that the company does not stop operating after the projection window

  4. Discount the terminal value to account for the time value of money

  5. Sum the discounted values to find an enterprise value

  6. Subtract Net Debt and divide by diluted shares outstanding to find an intrinsic share price

8. Job Board

9. Memes of the Day

 

 

 

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