Oct 07, 2021 Sign Up

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"Every once in a while, the market does something so stupid it takes your breath away." – Jim Cramer

Good morning! Kroger is looking to fill 20,000 positions across the nation in an effort to prepare for the holiday season as widespread labor shortages continue. The real question's who tf still shops at Kroger anymore? Biebs is going full Snoop Dogg and entering the marijuana market with pre-rolled joints named "Peaches," after his song with the same name. In the weirdest move of the day, a CEO sat on a toilet seat for 50 hours to raise awareness for his startup. Investors were impressed and gave him $30 million.

Today's sponsor, Polymarket, allows you to trade on real life events including will SpaceX's Starship successfully reach outer space by December 31, 2021?

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1. Story of the Day: Wall Street South's Newest Resident

Another one bites the dust? Cathie Wood's firm ARK is packing up its NYC bags at the end of October and moving to St. Petersburg, Florida permanently.

St. Petersburg (Tampa?) is not the coolest location in Florida but according to Cathie Wood that is exactly what differentiates them from the pack. “We are looking forward to breaking the mold further by relocating to St. Petersburg.”

Many finánce folk have had enough of the astronomical taxes and rising crime rate in New York City and want out. More than 90 financial services have opened offices in Florida since the pandemic began. Firms include hedge funds such as Point72, Elliott Management and high-frequency trading firm Virtu Capital.

ARK which manages over $80 billion miraculously only has roughly three dozen employees. ARK also announced it will build an innovation center meant to “retain and attract top talent” in the region (whatever the hell that means).

Short Squeez Takeaway: Doesn't look like the migration to the south is stopping any time soon. Some top talent worries that they'll struggle to build a career there but eventually plan on retiring there (like all the boomers in America have). Seriously tho who doesn't like warm weather, beaches and lower taxes? (Apparently first year investment banking analysts living in 2 bdr flex apt in Murray Hill)

Source: Bloomberg

2. Markets Rundown

• US stocks rose Wed following a report that Congress might reach a short-term agreement to raise the government borrowing limit and prevent a default

Movers & Shakers

• (+) Coinbase ($COIN) +4% after Goldman Sachs reiterated its buy rating on the stock and said it expects a top-line beat when it reports earnings in November.
• (+) HSBC ($HSBC) +3% after UBS upgraded the stock to a buy rating from neutral. 
• (–) Manchester United ($MANU) -17% after the Glazer family, which controls the soccer club, announced a 9.5 million share offering.
  

3. Top Reads

A Message from Polymarket: Starship to the Moon?

SpaceX's newest Starship prototype briefly stood atop a Super Heavy rocket booster for the first time in August, making it the tallest rocket ever built. However, regulation remains a major uncertainty as Starship awaits its chance to make an orbital flight test.

The Federal Aviation Association (FAA) has undertaken an environmental assessment of the Starship's mission, which delayed SpaceX's plans to attempt the flight back in July. But even after the assessment is finished, there may still be more hurdles for SpaceX ahead.

The FAA is inviting the public to comment on the project for an environmental review. Elon Musk asked his 60 million Twitter followers to add their support tweeting, “Humanity’s future on the moon, Mars & beyond depends upon it.”

Will SpaceX's Starship successfully reach outer space by December 31, 2021?

Polymarket traders are currently forecasting a 15% probability that Starship will successfully reach outer space by the end of the year. Will Elon be successful in his mission to launch Starship before the end of year or will they run into more regulations?

Trade now or follow the odds on Polymarket. Use code “OWS” to get reimbursed up to $100 on your first day of trading!

4. Book of the Day: Big Little Breakthroughs: How Small, Everyday Innovations Drive Oversized Results

The pressure to generate big ideas can feel overwhelming. We know that bold innovations are critical in these disruptive and competitive times, but when it comes to breakthrough thinking, we often freeze up.

Instead of shooting for a $10-billion payday or a Nobel Prize, the most prolific innovators focus on Big Little Breakthroughs—small creative acts that unlock massive rewards over time. By cultivating daily micro-innovations, individuals and organizations are better equipped to tackle tough challenges and seize transformational opportunities.

How did a convicted drug dealer launch and scale a massively successful fitness company? What core mindset drove LEGO to become the largest toy company in the world? How did a Pakistani couple challenge the global athletic shoe industry? 

Big Little Breakthroughs isn’t just for propeller-head inventors, fancy-pants CEOs, or hoodie-donning tech billionaires. Rather, it’s a simple system to help everyday people become everyday innovators.

5. Short Squeez Picks

• If you are looking to invest in VC, check out Sweater Ventures, the first VC for the retail investor
• Rachel Feintzeig talks about employees should be emotionally distant with work to avoid burnout Podcast
• Are you a young professional looking to expand your social network in New York City? Join Shaka Club
• Role of luck in investing and life Podcast

6. Daily Visual: Facebook's Global Reach
Monthly active users of Facebook's platforms

Source: Statista

7.  Daily Acumen: Burning Bridges as a Strategic Decision

“Precommitment is a strategy where you intentionally take actions which limit your future options, in order to enforce your commitment to a particular course of action and make your threats appear more credible to others.

For example, an advancing army might precommit to an attack by destroying any bridges that would allow them to retreat, as soon as they cross them. In this case, the use of precommitment has two main benefits:

It motivates the troops of the invading army, because they know that retreat is not a viable option for them, which means that the only option that is left is to keep moving forward.

It demotivates the defending army, because it shows them that the invaders are fully committed to the attack, which means that the invaders are unlikely to give up, no matter what happens.

The concept of precommitment plays a role not only in game theory but also in a psychological context, where it refers to people’s decision to precommit to a future course of action as a way to overcome their impulsivity and encourage themself to follow through on their long-term goals.”

Source: Effectiviology

8. Memes of the Day

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