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Super Bowl Economics: Booz ✅ Crypto ❌

There's light at the end of the universe. 💡

February 10, 2023

🌞GM🌞 Happy Friday!

Super Bowl coming up and a the ads are decentralized but mostly alcohol related. 🍻

Crypto gets the bank treatment. 🙅‍♀️

Pete Davidson moves tacos in size. 🌮

Lets dive in 🤿

Economy📊

Retirement: There's a near-universal agreement among economists that we’ll all need to work for longer, save more or receive less. Reform efforts, such as raising the retirement age, are largely unpopular. (BBG)

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The cost of a commercial during Sunday’s big game is around $7 million for a 30-second spot—about three times what it was in 2007. That comes despite a steady drop in television viewership. (WSJ)

Autonomous Note 🧿 

As the American economy's biggest spectacle, the game is regularly parsed for investing clues. Financial reporters still dredge up the Super Bowl Indicator, an unscientific barometer that purportedly predicts the stock market’s direction based on which football conference’s team wins the game. A far more useful signal can be found in between the action.

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Markets 💹

"60/40" portfolios post best start to year since 1991 (BofA)

🧿We're talking about portfolio building and some decision making processes today on Telegram. Stay tuned. 

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Ending the Yeezy deal left Adidas with a billion-dollar problem. The German sportswear giant faces its first loss in more than three decades if the stock is left unsold. (QZ)

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Trends 🪐

There’s light in the solar system coming from nowhere. After accounting for all the known sources of light, a glow equivalent to 10 fireflies in a dark room remains unexplained. (PM)

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A Waitlist of 60,000: Why Women Are Flocking to This Members-Only Club. (BBG)

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Pete Davidson helped Taco Bell sell more breakfast. The fast food chain credited a 9% increase in its morning sales to an ad featuring the comedian. (QZ)

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Digital Assets⚡️

Crypto exchange Kraken has settled with the SEC and agreed to shutter its staking service, as well as pay $30 million in disgorgement and civil penalties. (The Block)

Coinbase Drops Most Since July as SEC Cracks Down on Crypto Staking (BBG)

🧿 The gut-wrenching declaration that staking activities need to end in the US by non-banking entities is a major blow for centralized exchange businesses like Kraken, Coinbase, Binance etc. This new wave of regulation-by-enforcement is harsh, expensive and incredibly difficult to navigate. However, the additional clarity that this brings to the market should speed up the adoption and utility of blockchain technology by drawing clearer lines between market making and banking. 

------fin------

Meme Digestif ☕️

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