🍋 Side Hustle Season

Author

Short Squeez
October 20, 2022

Together With

 "If you can't decide, the answer is No." — Naval Ravikant

Good Morning! It was a wild run for Covid day traders, but retail day-trading fell to its pre-Covid lows last quarter. Heads up if you live in New York City – Mayor Adams asked residents to wait until 8pm to take out the trash. The new rule follows a 70% uptick in the city’s rat sightings since 2020.

More bad news for Mark Zuckerberg as British regulators forced Meta to sell Giphy because of anti-trust concerns. Spirit Airlines shareholders approved the JetBlue sale yesterday, but the Spirit memes will always live on.

Netflix stock has bounced after blockbuster Q3 earnings, adding more than 2.4 million subscribers. For those looking to model out the streaming service, Daloopa is giving away Netflix's detailed financial model for FREE. Download here.

1. Story of the Day: Side Hustle Season

2022 has been shaky for many Americans. Inflation and living expenses are soaring, and many workers don’t think their salaries are keeping up. To make ends meet, many workers are turning to side hustles to rake in some extra dough.

A new study found that more than half of American workers are considering second jobs to supplement their income. And many have already joined the side-hustle economy – a May 2022 survey found 40% of American workers had a side hustle.

The ways millennials rely on side hustles are shifting. In better economic times, many eagerly took on side hustles almost as a hobby for a resume pad. Freelance consulting, content creation and the likes was a good way to build a personal brand and MBA application boost. The extra cash didn’t hurt, either.

Cloudier economic times have shifted the paradigm. Many millennials are not taking on side hustles because they want to, but rather because they’re getting squeezed and have to.

Takeaway: Both employees and even managers are warming to the idea of side gigs– so long as they don’t take time and energy away from normal responsibilities. A few years ago, it would have been frowned upon to tell your MD about your YouTube channel or graphic design side gig. Working two full-time jobs, however, is almost always a fireable offense, and companies are becoming savvier at discovering those who do so.

2. Markets Rundown

If you want access to Wall Street insider interviews, industry deep-dives, and investment ideas, check out our Insiders newsletter.

Stocks closed slightly lower on Wednesday as the dollar and bond yields rose.

Movers & Shakers

  • (+) Netflix ($NFLX) +13% following better-than-expected financial and subscriber data.

  • (+) United Airlines ($UAL) +4% as post-Covid travel continues to rebound.

  • (–) M&T Bank ($MTB) -14% after disappointing Q3 results and slowing retail banking business.

Private Dealmaking

  • Treeline Biosciences, a stealth biotech startup, raised $261 million

  • Byju’s, an Indian online learning platform, raised $250 million

  • Jasper, an AI content platform, raised $125 million

  • Ambi Robotics, an item-sorting robot manufacturer, raised $32 million

  • Metalenz, a 3D camera producer, raised $30 million

  • Eli Lilly bought Akouos, a gene therapy company, for $487 million

Top Reads

  • Bank of America CEO says the American consumer is resilient (YF)

  • This stock market has staying power, but there’s one big obstacle (CNBC)

  • Credit markets flash warnings as rates soar (Axios)

  • U.S. firms are more pessimistic about the economic outlook (Reuters)

  • Tesla beat earnings, missed revenue expectations (YF)

  • The fiscal policy missing from the inflation fight (Axios)

  • Bill Gates says investment in innovation is the most important part of ESG (CNBC)

  • Goldman Sachs faces reality of banking ambitions (Axios)

  • SPAC liquidations top $12 billion on the year as sponsors grapple with tough market (CNBC)

  • Markets and economists are increasingly certain of a recession (Axios)

A Message from Daloopa: Update Models with 1-click

Here's a dirty secret: part of being a finance professional consists of being one of the world's best-paid data-entry professionals.

It's a pain—and a rite of passage—to build a financial model by painstakingly transcribing information from 10-Qs, 10-Ks, presentations, and transcripts. Or, at least, it was: Daloopa uses machine learning and human validation to automatically parse financial statements and other disclosures, creating a continuously-updated, detailed, and accurate model.

Thomas Li (CEO) puts it best: "Daloopa collects literally everything a company discloses."

Netflix's stock has made a comeback after its blockbuster earnings release on Tuesday. The stock was up 13% today.

If you'd like to model out where Netflix's stock goes from here, Daloopa is giving away Netflix's model to Short Squeez readers.

4. Book of the Day: The Age of Resilience

In The Age of Resilience, Rifkin takes us on a new journey beginning with how we reconceptualize time and navigate space. During the Age of Progress, efficiency was the gold standard for organizing time, locking our species into the quest to optimize the expropriation, commodification, and consumption of the Earth’s bounty, at ever-greater speeds and in ever-shrinking time intervals, with the objective of increasing the opulence of human society, but at the expense of the depletion of nature. 

Space, observes Rifkin, became synonymous with passive natural resources, while a principal role of government and the economy was to manage nature as property. This long adhered to temporal-spatial orientation, writes Rifkin, has taken humanity to the commanding heights as the dominant species on Earth and to the ruin of the natural world.

In the emerging era, says Rifkin, efficiency is giving way to adaptivity as the all-encompassing temporal value while space is perceived as animated, self-organizing, and fluid.

A younger generation, in turn, is pivoting from growth to flourishing, finance capital to ecological capital, productivity to regenerativity, Gross Domestic Product to Quality of Life Indicators, hyper-consumption to eco-stewardship, and globalization to glocalization. 

“Transformative vision of how our species will thrive on an unpredictable Earth.”

5. Short Squeez Picks

A Message from CaskX: Invest in Whiskey

Tired of putting your money in stodgy “paper” investments and just hoping for the best? Diversify your portfolio with an exciting and profitable asset class: Bourbon.

With the Bourbon market booming and continued growth expected as demand accelerates in international markets, there has never been a better time to add spirits to your holdings with CaskX.

In addition to the financial benefits, CaskX investors also have the opportunity to go behind the scenes of the entire process by visiting the distilleries to see the impact their investments are making.

Get started with CaskX today by requesting access to current offerings now.

6. Daily Visual: New Income Tax Brackets for 2023

Marginal tax brackets for 2023 tax year

Source: Axios

7. Daily Acumen: Small Failures Pave the Way for Big Successes

“If you’re working hard but not earning much, don’t lose hope. Everyone goes through a journey to attain their goals. If you give up now, you’ll never know what you’re capable of.

Here are the three takeaways:

• Success takes time, patience and a lot of hard work.

• Keep experimenting until you find what “clicks”.

• Have an end goal in mind to navigate through tough times.

Only when you don’t give up, you can taste true success.”

Source: Anangsha Alammyan

8. Crypto Corner

9. Memes of the Day

 

 

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