Good Morning!

Happy Friday folks, last Market Byte until Monday 🥺

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

Market Update

📊 Stocks moved higher Thursday while the 10-Year bond yield sits above 4% for the first time since November. The Nasdaq led the way, rising 0.9% for the day & back above 10% for the year.

🟢 Salesforce is up 11.5% after reporting a strong Q4 and even stronger forecast. The company guided to a Full year operating margin of 27%, well above analyst estimates of 22.5%

🔴 Tesla fell 6% after the Investor Day left investors with more questions than answers.

Banger Tweet of the Day

We really are a simply bunch.

SpaceX Sends Nasa Crew to ISS

SpaceX officially launched a crew to the International Space Station in the middle of the night yesterday. The crew took off in the “Crew Dragon” Spacecraft out of the Kennedy Space Center in Florida.

Rain Check: The launch was planned to take place earlier this week, but was delayed due to a rare technical issue - a clogged filter hindered the flow of ignition fluid to the engine. It’s not rocket science, guys 🤣 😂😆 😭 

Leading the charge: The launch marks the seventh SpaceX mission of this kind since 2020, when the company sent astronauts to space for the first time since 2011.

More coming: SpaceX also intends to launch 51 Starlink satellites to orbit from its Falcon 9 rocket. Starlink is a satellite company providing wide-coverage internet access, owned by none other than Mr. Musk.

Business Bytes

🤖 U.S. regulators rejected Elon Musk’s bid to test brain chips in humans, citing safety risks (CNBC)

• Musk mentioned the chips back in 2020, “You’ll be able to save and replay memories… The future is going to be weird.”

• Would you let Elon put his chip in you?

👩‍💻 U.S. Jobless Claims Ticked Down Last week (WSJ)

• Despite the consistent news of massive layoffs and thinning of large tech companies, employers have added more than half a million jobs in January and

• The unemployment rate is at its lowest rate since ‘69.

🔫 Hackers steal gun owners’ data from firearm auction website (Techcrunch)

• GunAuction.com has been the target of anonymous hackers who gained sensitive personal data for more than 550,000 users.

• The stolen data was put on a public server, with personal information like full names and home addresses revealed.

🍺 Molson Coors Told to Stop Saying Rivals’ Beer Tastes Like Water (WSJ)

• An ad-industry self-regulatory group declared that Molson Coors should stop implying its competitors beers have no flavor.

• Last year Molson Coors ran an ad where a cyclist poured an “extremely light beer” over his face while a voice read, “Light beer shouldn’t taste like water.”

• While the beer didn’t have any brand names on it, it sure as shit looked like a Micky Ultra.

  

Chatbots are Taking Over

Ever since the release of chatGPT, every company seems to be rushing to ship a consumer-facing chatbot.

• Bing Sydney - Microsoft has been testing basic chatbots in Bing since 2017, bringing OpenAI on board was the breakthrough needed to bring Sydney to the masses. (The Verge)

• Google Bard - Google, under pressure to compete with Bing, announced “Bard”, scheduled to release in a few weeks. (Wired)

• Ask Instacart - Instacart is using OpenAI tech to add its own chatbot to have conversations about groceries (?) (WSJ)

• “My AI” Snapchat - Snapchat is also leaning on OpenAI to create a chatbot companion. This iteration will get to know you the more you chat with it. Available only to Snapchat+ subscribers. (Beebom)

• Shopify - Coming out with a personalized assistant for shopping recommendations, also using the OpenAI API. (Techcrunch)

It’s hard not to see OpenAPI as the winner in all of this, but the amount of consumer surplus generated will be insane.

Today’s Challenge: Have a good ass Friday.

Thanks for reading, go out and make today a great one.

Much Love,

Andrew (and AI)