🍋 Teens Out-earning Boomer CEOs

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Good morning and Happy Friday! Market continued its Kangaroo like pattern and the tech-heavy Nasdaq was down 2.5% yesterday (5.4% for the year) on inflation fears. Producer prices soared by 9.7% in December, the biggest gain on record. Supreme court rejected Biden's Covid-19 vaccine-or-testing rules for large private employers, dealing a blow to government’s most aggressive effort to combat the pandemic via the workplace. Goth couple Megan Fox and Machine Gun Kelly got engaged this week and the strangest wedding ring reportedly cost around $300,000 according to jewelry expert Mark Broumand. Have a great weekend!

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1. Story of the Day: Teens Out-earning Boomer CEOs

It’s 2022 and TikTok Teens are out-earning boomer CEOs. TikTok’s most-followed person, Charlie Di’Amelio (133m followers), 17, made $17.5 million last year. She out-earned Exxon CEO, Darren Woods ($15.6 million), Starbucks’ Kevin Johnson ($14.7 million), Delta’s Ed Bastian ($13.1 million), and McDonald’s Chris Kempczinski ($10.8 million).

Charlie has ad sponsorships from every major brand you can think of. Recently Dunkin Donuts named a drink after her. She also has a TV show "The D’Amelio Show," which is basically a Gen Z version of Keeping Up With the Kardashians.

2nd on the highest earners list is… Charlie’s sister, Dixie, who made $10 million. Dixie has also used her fame to become a singer. In 2021, she released "Psycho," which featured rapper Rubi Rose and hit No. 25 on US Billboards.

Despite all the money they made, they don’t come close to the OG millionaire (or billionaire?), Kylie Jenner who was the highest-paid celebrity in 2020, bringing in $590 million, mainly from selling a stake in her beauty company, Kylie Cosmetics, to Coty.

Short Squeez Takeaway: It’s not just the D’Amelio family bringing in millions. The Top 7 TikTok influencers made a combined $55.5 million in 2021, up 200% from 2020. TikTok stars can charge as much as half-million dollars for a single post, though most earn an average of between $100k to $250k per post.

TikTok recently overtook Google for the most used website in 2021. This is great news for all TikTok influencers, and their earnings are only expected to grow. On that note, if anyone enjoys making TikTok videos pls respond to this email… we hirin’ fam.

Source: WSJ, Forbes

2. Markets Rundown

Stocks took a nosedive Thursday after another wild inflation reading. Reason? Bond yields were down, but the market sees them going higher.

Movers & Shakers

• (+) KB Home ($KBH) +17% after reporting better-than-expected quarterly results.

• (–) Snap ($SNAP) -10% after Cowen downgraded the social media stock to market perform.

• (–) Virgin Galactic ($SPCE) -19% after announcing plans to raise up to $500 million in debt.

3. Top Reads

• Soaring used car prices are pushing inflation higher, and there’s not much the U.S. can do about it (CNBC)

• The dirty work of cleaning online reputations (Walrus)

• After the Beanie Baby bubble burst (Vox)

• Mastercard CEO says spending trends look ‘relatively positive’ so far in 2022 after strong holiday (CNBC)

• The waste age (Aeon)

• How Shohei Ohtani made baseball fun again (GQ)

• The renaissance man of venture capital (II)

• S&P 500 index funds balloon (Axios)

• KFC faces boycott in China over meal toy promotion (BBC)

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4. Book of the Day: What They Teach You at Harvard Business School: My Two Years Inside the Cauldron of Capitalism

Graduates of Harvard Business School run many of the world's biggest and most influential banks, companies and countries. But what kind of person does it take to succeed at HBS? And what do they learn there?

Philip Delves Broughton's thrilling and hilarious memoir of his two years at Harvard takes us from first class to graduation, encompassing the case studies, the guest lectures, the Apprentice-style tasks, the booze-luge, the burn-outs and high flyers, as well as all the advice, wisdom and folly he found in this 'factory for unhappy people'.

If you've always wanted to know how to get to the top, but wondered what it takes and exactly what it costs, this book will tell you.

“What the average call excellent, the excellent call average.”

5. Short Squeez Picks

• How much is a dog’s life worth?

• Spending decisions that end up costing a million dollars

• Larry Fink wants to save the world (and make money doing it)

6. Daily Visual: Prices for Home Antigen Tests in Select Countries

Source: Axios

7. Daily Acumen: Beware the Swelled Head

In his book Jesse Livermore – Boy Plunger: The Man Who Sold America Short in 1929, the author Tom Rubython says of the period during which Livermore, ranked among the best stock market speculators ever, lost his $100 million fortune: “In truth, it was a period of total inconsistency and illogicality during which, by his own rules, he should have been out of the market sitting on his money. But he wasn’t. Having conquered the world, he wanted to climb the mountain again.”

Livermore went long on the stock market as it slipped to its lows by mid-1932. Then, in 1932, he shorted the market again, and this time the market doubled. The final blows were caused in 1933 when he went long the market just as it fell back near its 1932 lows.

Call it extreme bad luck, but Livermore had set himself up in a way for such luck to find him. Of course, you can make out from the readings on his life that he was prone to depression caused by extreme stress of his work i.e., stock trading and speculation.

He once said of his profession –

“A man must give his entire mind to his business if he wishes to succeed in stock speculation."

He probably took his advice too seriously and gave his entire mind to his business. It was seemingly during one of these depressive moments that he took his own life.

8. Crypto Corner

• Aside from Shark Tank, Mark Cuban says 80% of his new investments are in crypto

• Gemini acquires BITRIA to push crypto into the wealth management industry

• Bitcoin cycle is far from over and miners are in it for the long haul: Fidelity report

• Congress announces hearing on crypto's energy use and environmental impact

• NEAR raises $150 million as it looks to become a hub of web3 development

• Mark Cuban and Robinhood's CEO join $6 million round for high-yield investment app Seashell

9. Memes of the Day

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