Good Morning!

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

Market Update

📈 Stocks were mostly flat Wednesday, while the S&P500 declined (slightly) for the fourth session in a row.

🟢 Caesar Entertainment, owner of Planet Hollywood, was up 5.4% after reporting a strong Q4. Degenerate gambling is good for the market.

🔴 Keysight Technologies fell 12.7% after providing a disappointing quarterly outlook.

Banger Tweet of the Day

VC investors love being helpful - you just need to ask!

Elon Picks California for Tesla’s Global Engineering Headquarters

Despite Elon’s beef with the state, Tesla announced that it will establish its global engineering headquarters in California.

What’s the beef: Elon moved Tesla’s headquarters to Texas over two years ago, calling California “complacent”, and likening them to a sports team with a long winning streak on his way out.

Elon also publicly called out California officials during covid for their strict shelter-in-place orders.

Despite his complaints, California remains an important place for Tesla. The company’s original car factory sits in Fremont, and houses capacity for roughly 650K vehicles a year.

All I’m thinking is Tesla must have received some pretty great incentives.

Business Bytes

📱 Instagram co-founders’ new app is available to the public (Medium)

• Artifact, the self-proclaimed “TikTok for Text” is like if Apple News started using an AI recommendation engine and added in a social feature.

• Anyways, try it out by searching Artifact on the App Store. I kinda like it.

🎼 Spotify Debuts a New AI DJ in their App (Spotify)

• The DJ relies on OpenAI technology and auto-plays music for you based on learnings from your in-app history.

💰️ Productivity Software maker Tome raises $43 million at a $300 million valuation (Forbes)

• Tome, an AI-first slide deck maker, has yet to generate any revenue.. and is now valued at $300 million. Rates gotta go higher.

📉 Intel slashes dividend by over 65%, from 36.5 cents to 12.5 cents per share (Intel)

• Not a fun day if you own 1 or 2 of these bad boys, eh?

• The stock is only down 2.3% today as this wasn’t much of a surprise to those following the company - the fallen giant has been in trouble for quite some time now.

Too Much Time Online Harms the Mental

Social Psychologist Jon Haidt compiled a myriad of sources showing positive correlation between social media usage and deteriorating mental health.

The whole post is deserving of a read, but I pulled a few charts below for you below. What’s interesting to me is that low-to-moderate usage appears to be net-positive, but anything beyond that and it goes south fast.

A few eye-opening, but probably not completely surprising, charts:

Takeaway: Of course, causation does not equal correlation, but I think almost every young kid can relate to personal issues as a result of social media. Let’s do better folks.

Today’s Challenge: Spend half your normal time on social media today. Download “one sec” to help reduce time spent on distracting apps - I just started using it and am a big fan.

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

Much Love,

Andrew (and AI)