🍋 The Side Hustle You Didn't Know You Needed

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Good Morning! US job openings have hit an almost two-year low. But rather than a cause of concern, economists are hailing this as a positive sign that the Fed's interest rate policies are working.

More companies are launching onto the AI craze. Amazon Web Services (AWS) launched an accelerator for generative AI startups, and Expedia released a ChatGPT-powered trip adviser.

Johnson & Johnson made an unprecedented offer to settle product liability lawsuits for a staggering $9 billion. And Credit Suisse’s CEO mustered up an apology to angry shareholders at the bank’s annual meeting yesterday.

Why just admire art when you can invest in it? With a 29% increase in value this past year, art can be a savvy investment. Get started with Artscapy today.

1. Story of the Day: The Side Hustle You Didn't Know You Needed

It seems like millions of American teenagers are competing with each other to become the next YouTube or TikTok star. But some young entrepreneurs are discovering that there's a much more lucrative and practical way to make a name for themselves in the world of social media - by working behind the scenes.

Some savvy high school and college students are finding that they can earn thousands of dollars a month by using their skills to help support and promote the creators they admire. By working in what economists call a "cottage industry," these young people can provide support to influencers in areas such as video editing, content strategy, and brand promotion.

The influencer industry exploded during Covid, as more Americans turned to social media for entertainment and shopping recommendations. Influencer marketing spending is even projected to reach over $16 billion in 2023.

But despite the industry’s rapid growth, many experts believe that the infrastructure supporting it has failed to keep pace. As a result, there is a pressing need for operational and support roles in the space.

If you are looking for a good side hustle, this might be it.

2. Markets Rundown

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Stocks closed lower after weak economic data fueled recession fears.

Movers & Shakers

• (–) Snowfake ($SNOW) 4% after the data services provider announced a partnership with Striim.

• (–) AMC Entertainment ($AMC) -23% after the company’s share settlement lead to $16B equity raise.

• (–) Virgin Orbit ($VORB) -23% after the company filed for bankruptcy.

Private Dealmaking

• L’Oréal bought skin care company Aesop for $2.5 billion

• Cybereason, a cybersecurity software producer, raised $100 million

• Quantexa, a decision intelligence platform, raised $129 million

• Everstream Analytics, a supply chain and risk insights platform, raised $50 million

• Lunaphore, a spatial biology startup, raised $32.8 million

• Kresus, a crypto super app developer, raised $25 million

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3. Top Reads

• JPMorgan Chase CEO Jamie Dimon feels pretty sunny about the economy (Axios)

• The new rules of layoffs (WSJ)

• JPMorgan’s Dimon says US banking turmoil not over, sees long repercussions (Reuters)

• After layoffs, tech stocks boom (Axios)

• Signature Bank insiders sold $100M in stock during crypto surge (Fox)

• Gas prices could head back towards $4 (YF)

• The job market is still weird (Axios)

• Manhattan real estate sales tumble 38%, cash deals hit record (ZH)

• Why tech hubs are seeing home prices cool faster than other areas in US (CNN)

• Frank founder charged with fraud over $175M JPMorgan deal (CNBC)

4. Shortform Book of the Day: The All-or-Nothing Marriage

Eli J. Finkel's insightful and ground-breaking investigation of marriage clearly shows that the best marriages today are better than the best marriages of earlier eras.

Indeed, they are the best marriages the world has ever known. He presents his findings here for the first time in this lucid, inspiring guide to modern marital bliss.

The All-or-Nothing Marriage reverse engineers fulfilling marriages—from the “traditional” to the utterly nontraditional—and shows how any marriage can be better.

The primary function of marriage from 1620 to 1850 was food, shelter, and protection from violence; from 1850 to 1965, the purpose revolved around love and companionship. But today, a new kind of marriage has emerged, one oriented toward self-discover, self-esteem, and personal growth.

Finkel combines cutting-edge scientific research with practical advice; he considers paths to better communication and responsiveness; he offers guidance on when to recalibrate our expectations; and he even introduces a set of must-try “lovehacks.”

This is a book for the newlywed to the empty nester, for those thinking about getting married or remarried, and for anyone looking for illuminating advice that will make a real difference to getting the most out of marriage today.

“When two people are under the influence of the most violent, most insane, most delusive, and most transient of passions, they are required to swear that they will remain in that excited, abnormal, and exhausting condition continuously until death do them part.”

Read More Books in Finance, Economics, and More with Shortform

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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

• My productivity skyrocketed when I ditched these 5 common productivity hacks

• How to check back in at work if you’ve checked out

• 4 things good conversationalists always do

• How do you make up for lost years?

• Buy experiences, not material possessions

6. Daily Visual: Largest Layoffs in Tech Companies

Layoffs announced between Jul 1, 2022 and March 23, 2023; sized by number of workers laid off

_{Source: Axios}

7. Daily Acumen

“One way to show status is by demonstrating how many resources you have. A bespoke suit, a huge graduation party, a fancy building…

A bully who physically intimidates or an angry driver who cuts you off in traffic are each working to show their status and strength.

But it’s also possible to demonstrate security and confidence by doing precisely the opposite.

The billionaire in a t-shirt. The person who holds the door open and lets you go first in line… these are also demonstrations of status.

The interesting question isn’t whether someone has status. It’s whether they’re gutsy enough to demonstrate it by making things better for others.”

Source: Seth’s Blog

8. Memes of the Day

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