🍋 Wall St vs NYC

Author

Short Squeez
February 21, 2022

Together With

"God gave us Mondays to punish us for the things we did over the weekend."

Good Morning! Hope y'all had a fantastic weekend. The Winter Olympics ended with Norway having the most gold medals, 16, and most medals overall, 37. US finished 4th with 8 gold medals and 25 overall. The Queen tested positive over the weekend but seems to be doing fine with mild cold-like symptoms. OpenSea took an L after losing $200 million to a hack, but CEO Devin Finzer says it was actually a phishing attack. Right... Finzer might be fibbing, but if you're looking for "truth," Trump's social app called Truth is supposed to be available in the Apple App Store today. Apple is also getting ready to introduce new MacBooks and iMacs in their first product launch of the year.

If you are bullish on the psychedelics industry, now is your chance to invest in Ei.Ventures–the first Psychedelic Medicine company in the world to qualify for a Reg A+ Tier 2 offering. 

1. Story of the Day: Wall St vs NYC – Where You Work

Hybrid work models that were implemented on Wall Street during the pandemic are going to be more permanent. That's great for y'all that nap between Zoom calls, but does not bode well for New York City and the state's budget.

With employees able to spend more time working from home, spending a ton of money on primo NYC real estate just seems nonsensical. Firms like State Street have already announced they'll be closing offices in the big city and the ripple effects of that could be major. E.J. McMahon, Adjunct fellow at the Manhattan Institute said, "When you're collecting a total $5 billion a year in taxes from NJ and CT residents, losing even a small percentage to firms following State Street's lead could ding (city and state budgets) by a few hundred million dollars."

New York City and state have a budget of $95 billion and $212 billion respectively. Both entities have a bunch of cash from the federal government but are battling high unemployment and the flight of wealthy residents to less expensive cities and states. It also doesn't help that a lot of the talent that Wall Street recruits is heading into tech instead, and working in places like San Francisco and Austin, or just from their homes as the industry is more WFH friendly.

Some Gen Z workers have never even entered an office, and believe they might not have to in their whole careers. This group is expected to be a third of the US civilian labor force by 2030, so the working place dynamics will be evolving quick as 69% (nice) of a surveyed group said they'd want to work remotely at least half of the time.

Short Squeez Takeaway: Working from home can be really nice, but there are also a lot of benefits to being in the office. Aside from things like quick communication by just yelling at someone else on the desk, there are also major mental health benefits. Professor of psychology at Clark University, Jeffrey Arnett, said the time from 18-29 years old is a particularly lonely stage of life for a lot of people. It's "the time when people spend the most time alone until you get to your 70s." So before you get stoked to never have to leave your room, remember that interacting with people outside of social media is key to a healthy life. 

Source: WSJ, CNBC, Fox

2. Markets Rundown

Stocks closed lower Friday, booking a second week of losses, as investors monitored developments between Russia and Ukraine amid fears of a war breaking out.

Movers & Shakers

  • (+) Cheesecake Factory ($CAKE) +5% after beating revenue expectations despite earnings coming in below forecasts

  • (+) Cisco ($CSCO) +3% after beating earnings estimates

  • (–) Palantir ($PLTR) -7% after quarterly earnings fell short of forecasts

3. Top Reads

  • Massive Credit Suisse leak reveals possible criminal ties among 18,000 accounts (CNBC)

  • Half of the cars arriving at dealers are already sold (NYT)

  • CDC lowers pandemic travel warning for cruise ships (Axios)

  • Alcohol makers search of the next hard seltzer (FD)

  • Dog changes how you see the world (NYT)

  • The aircraft retirement party has been postponed (BB)

  • The science experiments to expect from SpaceX's Polaris Dawn (Axios)

  • US coasts will rise about one foot by 2050, scientists warn (NPR)

  • Dave Chappelle to produce four new comedy specials for Netflix (BB)

  • 2022: One of the hardest times to run a company (Axios)

A Message From Ei.Ventures: Final Month to Invest in The Golden Age of Psychedelics

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Their flagship product ‘Psilly’ is a Psilocybin-based formulation with natural properties that have the potential to help those struggling with anxiety, depression, PTSD, addiction, and more.

4. Book of the Day: The Happiness Advantage: How a Positive Brain Fuels Success in Work and Life

In the book that inspired one of the most popular TED Talks of all time, New York Times bestselling author Shawn Achor reveals how rewiring our brain for happiness helps us achieve more in our careers and our relationships and as students, leaders, and parents.

Conventional wisdom holds that once we succeed, we’ll be happy; that once we get that great job, win that next promotion, lose those five pounds, happiness will follow. But the science reveals this formula to be backward: Happiness fuels success, not the other way around.

Research shows that happy employees are more productive, more creative, and better problem solvers than their unhappy peers. And positive people are significantly healthier and less stressed and enjoy deeper social interaction than the less positive people around them.

Drawing on his original research—including one of the largest studies of happiness ever conducted—and work in boardrooms and classrooms across forty-two countries, Achor shows us how to rewire our brains for positivity and optimism to reap the happiness advantage in our lives, our careers, and even our health.

“Habits are like financial capital – forming one today is an investment that will automatically give out returns for years to come.”

5. Short Squeez Picks

6. Daily Visual: US Corporate VC Deal Activity Keeps Climbing

Source: Axios

7. Daily Acumen: Wise Owl

Businessman John D. Rockefeller was among the most successful of all time. He also spent most of his time alone. In spite of his inaccessibility, he remained quiet when people attracted his attention.

A refinery worker once said: “He lets everybody else talk, while he sits back and says nothing. But he seems to remember everything, and when he does begin, he puts everything in its proper place.”

When asked about his silence during meetings, Rockefeller often recited a poem:

"A wise old owl lived in an oak,

The more he saw the less he spoke,

The less he spoke, the more he heard,

Why aren’t we all like that old bird?"

8. Crypto Corner

9. Memes of the Day

 

 

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