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Transcripts
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What's up, Market Movers!
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Welcome to the podcast where we serve up a curated, snackable summary of the
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latest news, trends and financial models, giving you all the intel you need to
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make better decisions when it comes to thinking about your money, protecting
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your money, and building wealth.
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For more, visit us at MarketMoversDaily.com
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And now for your Market Mover's daily update for today, February 8th, 2023,
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Google announces Bard AI in response to ChatGPT.
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As a response to the booming language model ChatGPT, Google announced Bard AI,
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a chatbot technology powered by LaMDA.
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The company's large language model for dialogue applications.
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In the coming weeks, Google will roll out the technology to trusted
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testers with a view to making it more widely accessible to the public
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Fed Chair Jerome Powell addresses the "Disinflationary Process."
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In a recent statement, Powell reiterated the Central Bank's
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commitment to appropriate interest rate increases, but acknowledged
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that the disinflationary process has begun in the goods sector, which
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constitutes about 25% of the economy.
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This is starting to feel all too common, but another day, another series of layoffs
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as Zoom sets to streamline its workforce.
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To realign its operations video conferencing platform.
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Zoom announced plans to layoff 1,300 employees, approximately
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15% of its workforce.
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CEO Eric Yuan stated that the cuts will affect every organization within Zoom and
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affected employees will receive up to 16 weeks of salary and healthcare coverage.
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Yuan also pledged to reduce his own salary by 98% and forgo corporate
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bonuses in the coming fiscal year.
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SoftBank posts a near $6 billion loss for the quarter.
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The Japanese conglomerate.
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SoftBank continues to feel the effects of its peak-of-the-market spending
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spree reporting a $5.8 billion loss in its startup investment fund division,
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The Vision Fund, in the last quarter.
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This accounted for the bulk of SoftBank's overall, $5.9 billion $quarterly
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loss with the vision fund unit.
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Reporting $300 million in new investments, down 98% from the previous quarter.
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US trade deficit rises to $67.4 billion in December.
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US Census Bureau and the US Bureau of Economic Analysis reported that the
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goods and services deficit increased to $67.4 billion in December, up
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$6.4 billion from the previous month.
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Exports decreased while imports increased with petroleum products
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being the only positive export.
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What to watch this week...
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Meta targets teen users in Horizon Metaverse app redesign.
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In a move to broaden its user base, Meta announced plans to open up
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its Horizon Metaverse app to teens age 13 to 17 as early as March.
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The app currently available to people 18 and over aligns with the
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company's Quest Virtual reality headset designed for people age 13 and up.
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Bed Bath & Beyond avoids bankruptcy with Share Sale.
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To avoid a bankruptcy filing, Bed Bath & Beyond has secured
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investors for a cash infusion through the issuance of convertible
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preferred securities and warrants.
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The deal is expected to raise more than $1 billion for the retailer.
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Pandemic savings dwindle for American households.
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A recent estimate from Goldman Sachs shows that Americans have spent down 35%
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of the extra savings they accumulated during the pandemic with projections
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that they will have exhausted roughly 65% of that money by the end of the year.
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High prices and the end of relief programs are cited as factors
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affecting previously flush accounts.
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MasterCard Stock soars with rising interest rates.
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As interest rates rise, so does credit card usage as evidenced
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by MasterCard's Q4 2022 results.
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The company reported a 17% increase in net revenues and a 19% increase
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in adjusted operating income compared to the previous year.
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With the Fed considering further interest rate hikes, MasterCard and other
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credit cards are expected to benefit.
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Entrepreneur, author and angel investor Jason Calacanis recently
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commenting on AI's big data problem and potential roadblocks ahead.
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Fundamentally, AI doesn't work without data.
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Data usage may need permission and can consist of a copyright or IP violation.
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Plus the quality of the data is directly correlated with the skill
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and the ability to learn of the AI.
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Calacanis believes that IP lawsuits will become a huge roadblock for AI.
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And that caps off your snackable new summary for the day.
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But now what?
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What can you do with this new found intel?
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How can you wield this information to protect and grow your money?
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The first thing you can do is head over to MarketMoversDaily.com and subscribe.
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Subscribing is free and it's the one thing that keeps us working
Gabriel:
for you, plus gives you the inside scoop, because let's face it, email's
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really where we share our best stuff.
Gabriel:
Think micro content for macro returns.
Gabriel:
Subscribe today.
Gabriel:
After that, we work for you.
Gabriel:
Me, my partners, our board of advisors, all focused on delivering
Gabriel:
the best content to make you a better business person and a better investor.
Gabriel:
Become a Market Mover today.
Gabriel:
It's fast, easy.
Gabriel:
Just head over to MarketMoversDaily.com, drop in your email and let me
