July 19, 2021 Sign Up

by Overheard on Wall Street

"You have to pick carefully. I’m actually as proud of the things we haven’t done as the things I have done." — Steve Jobs

Good morning! Hope y'all had a fantastic weekend. Congratulations to Collin Morikawa on winning his 1st Open and becoming only the 2nd person after Tiger Woods to win the Open and PGA before the age of 25.

If you have not subscribed to Short Squeez yet, now is the time and this is the link.

1. Story of the Day: Betting Big on Brooklyn

In its quest to build the world's first global TV service, Netflix is building production facilities in Madrid, Seoul, Toronto and London. This fall, it will bring one closer to home. In September, it will open a new studio in Bushwick, a neighborhood of 100k people in Brooklyn, New York City. It will be a 170k sq ft facility and will include 6 sound stages, which will have enough space to film two TV shows at the same time, or one blockbuster movie.

The number of projects produced in NY has doubled since 2015 in part due a state tax incentive program that allocates $420 million a year in giveaways to attract productions. Netflix has also pledged to spend more than $100 million in the city and create thousands of jobs.

The Netflix studio sits on top of a steel shop from Bushwick's industrial past. Over time, an influx of Germans opened up breweries and established Bushwick as the beer capital of the northwest. More recently, Bushwick has grown into one the most exciting food spots in NYC and the Netflix studio is only a couple of blocks away from popular pizza joint Roberta's.

Short Squeez Takeaway: Brooklyn has experienced some form of a renaissance during the pandemic and the opening of the Netflix studio is also sign of normalcy for the broader entertainment industry. The number of shows being produced has rebounded to the same levels as before the pandemic. NYC is no Hollywood but Bushwick is well on its way to putting it on the entertainment industry map.

2. Markets Rundown

• S&P500 and Nasdaq posted a weekly decline after a 3-week run of gains, on fears of sustained inflation

Movers & Shakers

• (+) Blend Labs ($BLND) +16% jumped on its first trading day on the New York Stock Exchange.
• (+) Moderna ($MRNA) +10% after announcement that its being added to the S&P500
• (–) Turqoise Hill Resources ($TRQ) -16% after a disappointing production report and an analyst downgrade.

3. Top Reads

4. Book of the Day: A Generation of Sociopaths: How the Baby Boomers Betrayed America

In A Generation of Sociopaths, the author (Bruce Gibney) examines the disastrous policies of the most powerful generation in modern history, showing how the Baby Boomers enriched themselves at the expense of future generations.

Acting without empathy or respect for facts, the Boomers turned American dynamism into stagnation and inequality.

The Boomers have set a time bomb for the 2030s, when damage to Social Security, public finances, and the environment will become catastrophic and possibly irreversible and when Boomers will start dying off.

Source: Publisher

5. Daily Visual: World's Love Affair with Plastic Surgery (Total Plastic Surgery Procedures and Share of 2019 Global Total)

Source: Statista

6.  Daily Acumen: Sweet Stuff

Too much added sugar can mess with your weight and trigger a never-ending cycle of junk food cravings.

But even more important is the fact that eating too much added sugar can actually damage your body on a cellular level by causing low levels of harmful inflammation. Over time, chronic inflammation can increase your risk for serious diseases.

How much sugar does it take to cause problems, exactly? Studies have found that people who consume around 40 grams of added sugar per day, about the amount in a 12-ounce can of cola, show an increase in inflammatory markers both immediately after consuming it and over time.

It’s a different story for natural sugars, the kinds that fruits and vegetables contain. Unlike added sugars, natural sugars don’t cause inflammation because of how our body processes them.

Source: Greatist 

7. Memes of the Day

Love Short Squeez? Share it with your friends!