Inflation Tip: "Skip Breakfast" - WSJ

🌞Rise & Shine Autonomous Ones🌞

Today our desk is hung up on Crocs, Deep-Nerd Video Game Studio Square Enix, and the oldest book in the world the Hebrew Bible aka the Codex Sassoon.

Let's dive dive dive 🤿 🫧

Trends ✨

Crocs are more popular than ever. When the Colorado-based maker of colorful foam resin clogs is expected to report another stellar quarter in a record-breaking year. (QZ)

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Square Enix, the game studio behind Final Fantasy & Kingdom Hearts, is ignoring traditional gaming firms who've avoided web3 largely, and is launching a digital collectibles game, set on a floating island. (The Block)

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The founder of the WallStreetBets forum is suing Reddit. Jaime Rogozinski alleged his 2020 ousting from the online community was a ruse to prevent him from trademarking the name. (QZ)

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The Codex Sassoon, the world's oldest known book is up for auction expected to fetch 20-50 million. (Sotheby’s)

🧿Has anyone started a DAO to buy this thing? Remember Constitution DAO?

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Digital video viewing (almost) > traditional TV in US: forecast (AFP)

🧿 Not surprising. YouTube is considered to be Google’s golden-goose and their short form product, YouTube-Shorts is showing promising growth in the Tik-Tok led space.

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Economy 📊

US will default this summer unless Congress raises debt limit, warnings flash (CNBC)

🧿This is part of the typical series of headlines we get as both parties utilize brinksmanship to negotiate the debt ceiling. The market does not actually believe that the US will default (we would see Treasury Yields way higher than 3.8%). This said, with yields as high as they are, I wouldn't be shocked if ratings agencies downgraded US sovereign debt (hot take)🔥

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Politics 💈 

US: Nikki Haley kicked off 2024 presidential campaign with calls for a new generation of leadership (CNN)

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Macro 🌍

China added aerospace & defense companies, Lockheed Martin and a Raytheon company to its list of “unreliable entities” due to arms sales to Taiwan. It’ll fine the two companies, ban trade with them and forbid new investments from them into China. (BBG)

🧿The military contracting and aerospace/defense world is as gray as they come. Permissions to operate in foreign countries are often scrutinized, retracted, secret or subject to investigation. We are surprised that Lockheed and Ratheon were allowed to operate in China period.

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Chart Du Jour 👨🏻‍🍳

Meme Digestif ☕️

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