Good Morning!

Happy Monday nerds - Another day Another Market Byte!

Today’s article is brought to you by: 95% human and 5% AI

Market Update

📈 Stocks were mixed on Friday, reflecting investors uncertainty around inflation and the health of the economy. The tech-heavy NASDAQ fell 0.7%, while the DOW was up 0.4%

Meanwhile, Bitcoin is up ~50% YTD ❓️ 

🟢 John Deere was up 7.5% Friday after crushing earnings estimates.

🔴 Airbnb fell 5.5%, giving back some of its gains from a strong week.

Banger Tweet of the Day

SBF caught slippin’ on a plane (again):

Facebook/Insta to Launch Subscription Service

Facebook/Insta parent company Meta is launching a paid subscription service, enabling users to verify their accounts with Government id and interact directly with customer support.

Paying users will get the coveted blue check mark next to their names upon verification.

Why: According to Zuck-daddy, the new subscription service is meant to improve security on the platform, as well as enable a better experience for creators and influencers who are constantly dealing with fake accounts.

Pricing: The subscription service is starting at $11.99 if you purchase on a web browser, or $14.99 if you purchase through Android/iOS platforms.

The price difference is an intentional jab at the mobile app store operators —Apple and Google — who charge a 30% fee on all in-app payments.

Social-as-a-Service: Meta is the third major platform to offer a paid premium service, following Snapchat+ and Twitter Blue.

• While many of these features are things we’d probably expect for free, social platforms are clearly trying to diversify away cyclical ad revenues toward the steadier, more predictable nature of subscriptions.

• It seems likely Meta got the idea to change pricing based on the purchasing platform from Elon & Twitter, who had no shortage of complaints about the 30% tax.

Business Bytes

🥖 Microsoft limits Bing AI chats after the chatbot had some unsettling conversations (CNBC)

• If you remember Sydney’s creepy conversations from last week, those are likely gone (for now).

💼 Twitter is facing suits claiming over $14 million in unpaid Bills (WSJ)

• Elon is hell- bent on not paying certain bills that occurred before his time there.

🎈 US may have shot down a $12 hobbyist ballon with a $400,000 missile (Insider)

• Who said Government’s aren’t effective nor efficient.

🎬️ Disney’s “Ant-Man” Brings in Over $100 million on Opening Weekend (WSJ)

• The $104 million weekend makes it the third highest grossing February release ever, behind Deadpool and Black Panther

📉 Etsy Shares Fall after Research Firm Says Platform Showcases Fake Goods (Reuters)

Amazon Wants Workers Back In Office

Amazon CEO Andy Jassy is laying down the hammer on remote workers: Starting May 1st, all Amazon employees are required to be in office at minimum 3 days a week.

Stated Reason: Jassy mentioned that its “easier to strengthen Amazon’s culture, collaborate on ideas, and learn from others in person.”

Real Reason: This back to office move, along with many others, is more likely a “quiet layoff” - where companies enforce the rule knowing they’ll lose employees without having to do the layoff themselves (& pay severance).

While that’s admittedly cynical, and I see no reason for software developers to need to be in office, there are benefits to shedding those who aren’t willing to come into the office.

By forcing the rule, Amazon will retain those who truly want to work there & collaborate, and lose those who are already checked out. They’ll probably go further with less people this way.

Today’s Challenge: Go for a walk today. If you already take walks, try a new route or a longer walk.

Thank you so much for reading, go out and make today a great one.

Much Love,

Andrew (and AI)