Disney Meta-World Gets Cut ✂️

Good morning everybody 🌞

US stocks closed Monday's session mixed as investors look for the next catalyst beyond the banking crisis.

• Banks rose 3% on news of First Citizens acquiring most of failed Silicon Valley Bank

• Deutsche Bank recovered 4.7% after Friday's sell-off

• Dollar continues to trend lower vs global currencies

Let’s dive in 🤿

TRENDS ✨

Disney’s metaverse team suffers mass layoffs. 

The entertainment giant’s job cuts reportedly included the team of around 50 people working on storytelling and consumer experiences.
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800 million: 

Number of people in the world who will have diabetes by 2045, up from more than 500 million today

Diabetes is one of the fastest-growing diseases in the world—and the market for diabetes drugs is projected to spike even faster, nearly doubling in the next decade.

Furthermore, with drugs like Ozempic in high-demand from off-label / cosmetic users (weight-loss), the pressure is on.
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Luxury gyms don’t want you if you’re not cool.

Lengthy application processes create an exclusive atmosphere that only heightens the appeal.

TECHNOLOGY 💾

Twitter source code was leaked on GitHub
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Alibaba plans to split

Its $220 billion business into six main units encompassing e-commerce, media and the cloud, each of which will explore fundraising or IPOs when the time’s right.

Group CEO Daniel Zhang will head up the cloud intelligence division, a nod to the growing role that AI will play in the e-commerce leader’s portfolio in the long run.

DIGITAL ASSETS ⚡️

US regulators sue Binance. 

The crypto exchange was accused of encouraging customers to buy unregistered commodities, an allegation that dented the price of bitcoin as well.
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Nvidia CTO believes 'crypto adds nothing useful to society' despite billions in mining sales.

MACRO: BIG PICTURE 🌏

Nearly half of US workers have a side gig.
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An ammo manufacturer is having trouble keeping up with Ukraine’s orders.

It doesn’t help that it has to compete for energy with a data center that services TikTok.
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Chart(s) Du Jour 👨🏻‍🍳

MEME DIGESTIF ☕️

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