🐄 Cows in Brazil = Inflation?

🌞 GM 🌞 

Housing prices slide in premium cities, but innovation and deal-making is
t h r i v i n g.

Short version today, but we're following up with a voice-note @ 9:30 AM EST on Telegram

Let's jump right in 🤾‍♂️

TRENDS ✨

Restaurants are experimenting with subscription plans (NPR)

Autonomous Note 🧿 

Restaurants are struggling to find their business legs in an inflationary world with a tight labor market. Subscription models and concepts like the Dorsia App are compelling innovations that could help unlock better margins for a classically tough business.

Dorsia matches restaurant reservation seekers with slots requiring a minimum spend depending on the time & location.

Consequently, the app helps restaurants optimize their revenue-per-seat and gives diners a chance to eat somewhere where they would have a more difficult time gaining a spot, but can do so if they're willing to spend more. (fyi this is not a promo— just think the concept is cool.)

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ECONOMY ⚙️

US property prices recorded the largest six-month drop since 2008. In June, US homes were worth a record $47.7 trillion. By December, they had fallen by almost 5%. (QZ)

FHA lowers mortgage insurance premiums which will flow through to FHA mortgage costs for borrowers (HW)

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DEALS 🤝

Amazon closed its $3.9 billion deal to buy OneMedical. The announcement was made after the Federal Trade Commission said it wouldn’t block the deal that gives the e-commerce giant a foothold in primary health care. (CNBC)

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MACRO 🌍

Brazil suspended beef exports to China after discovering a case of mad cow disease. Last time such a case was discovered in 2021, it took about three months for trade to resume. (ABC)

Autonomous Note 🧿

Food Supply: If you’ve been reading for a few weeks now, you’ll have noticed that we are highlighting threats to the global food supply. Russian Potash (fertilizer), Ukrainian/Russian Grains, Russian energy. If we add a global beef crisis to the mix, inflation will certainly persist globally. Food cost is one of the most important categories in inflation calculations. If food prices fail to come down US and Global economies will struggle and markets will price in a recession.

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TECHNOLOGY 💡

Apple to allow side-loading marking a lost battle in protecting iPhone's app store exclusivity (TC)

Autonomous Note 🧿
Apple has vehemently fought against 3rd party apps being hosted on their own marketplace or any circumvention of the Apple App Store touting security and user experience. It looks like Tim Cook is waving the white flag. We’ll continue to watch this closely.

AI fever caused Nvidia stock to jump after giving a bullish revenue outlook, suggesting a push into artificial intelligence processors is helping offset sluggish demand for PC chips. Investors have piled into Nvidia this year, making it once again the world’s most valuable chipmaker. (BBG)

Mercedes partners with Google to offer 'supercomputer-like performance' as AI diffuses into other industries (RT)

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DIGITAL ASSETS ⚡️

BlackRock started a Metaverse-themed ETF (CD)

Autonomous Note 🧿
Metaverse interest is down 75% this year as per a sentiment analysis by CoinKickoff. That said, the regulatory environment in crypto is looking a lot like a kindergarten class with a few favorites. The fast-and-loose opinion going around is that licenses and permissions will be given to institutions closer to trad-fi and have established relationships with regulators and agencies.
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Chart Du Jour 👨🏻‍🍳

Meme Digestif ☕️

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