Quote of the Day
"The main people benefitting from the launch of A.I. tools so far are not everyday Internet users trying to communicate with one another but those who are producing the cheap, attention-grabbing A.I.-generated content that is monetizable on social platforms."
(Kyle Chayka)
Chart of the Day
Consumers are bummed out about the big stuff they spend money on. (via @cullenroche)
Markets
- The U.S. is roughly 50% of global market cap. (apolloacademy.com)
- Are small cap stocks declining in quality? (advisorperspectives.com)
- Finding and exploiting an edge costs both time and money. (riskofruinpod.substack.com)
- Gen Z is getting a jump start on investing compared to prior generations. (downtownjoshbrown.com)
Eli Lilly
- Can Eli Lilly ($LLY) avoid the boom/bust cycle of other pharma companies? (on.ft.com)
- Eli Lilly ($LLY) is expanding its Indiana presence. (biopharmadive.com)
Finance
- The big trading firms have displaced investment banks as the backbone of the financial system. (ft.com)
- Signs that private equity is hitting a wall. (bloomberg.com)
Venture capital
- OpenAI just raise a $6.6 billion round. (axios.com)
- Fidelity just raised a $250 million venture capital fund for clients. (advisorperspectives.com)
- Venture capital firm CRV is giving back capital to investors. (nytimes.com)
- Do Canadian startups have an ambition problem? (bnnbloomberg.ca)
Economy
- Don't dismiss the effect of inflation on a big portion of the populace. (disciplinefunds.com)
- Why you don't want manufacturing and construction to turn down simultaneously. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Personal finance links: enjoying your money. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: strategic beta blues. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
