🍔 Have it your way
🍔 Have it your way
Vroomsday continues...Microsoft passes $3T in market cap; Trudeau takes a heavy blow; Chinese rush into Bitcoin; Netflix breaks records; Burger King buys back; Trump wins New Hampshire; and much more.
Good morning fellow enthusiasts 👋,
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IN THIS ISSUE
💰 Chinese rush into Bitcoin
🚘 Tesla announces a new vehicle model
🍊 Trump wins New Hampshire
On this day. On January 26, 1961, Wayne Gretzky, a Canadian athlete who was considered to be the greatest player in the history of professional hockey, was born in Brantford, Ontario.
IMPORTANT
🤑 Microsoft passes $3T in market cap
Microsoft briefly hit a $3 trillion market cap this week when its stock price reached around $404 per share (an all-time high).
This milestone comes after Microsoft dethroned Apple as the world’s most valuable public company two weeks ago. Apple quickly reclaimed that spot by reaching a $3.01 trillion market cap this week.
Also, Morgan Stanley increased their price target for Microsoft to $450, mostly due to its strengthening position in generative AI and its earnings report on Jan. 30.
🚙 Ford recalls SUVs
Vroomsday, (doomsday, but for car recalls), continues into 2024 as Ford recalls 2.24 million Explorer SUVs worldwide due to concerns about improperly secured trim retention clips.
The recall covers model years from 2011 to 2019 and was identified by The National Highway Traffic Safety Administration. Funnily, Ford was aware of this issue in both 2018 and 2021 but did nothing about it. There have been no related crashes or injuries. The J. Nicholas Vroomsday counter is now 5.24 million cars.
🇨🇦 Trudeau takes a heavy blow
A Federal Court ruling has deemed the use of the Emergencies Act to stop the "Freedom Convoy" protests in Ottawa two years ago as "not justified."
The protests were centered around the COVID-19 vaccine mandates, and resulted in a traffic jam in downtown Ottawa and the blockade of crucial Canada-U.S. border crossings in early 2022. On Feb. 14, 2022, Prime Minister Justin Trudeau's government invoked the Emergencies Act for the first time in Canadian history, giving temporary powers to fight the protests.
The federal government, intends to appeal this decision (the appeal is led by Deputy Prime Minister Chrystia Freeland).
FINANCE
Image courtesy of Reuters/Dado Ruvic/Illustration
💰 Chinese rush into Bitcoin
Chinese investors are finding ways to buy cryptocurrency as an alternative for their home country’s declining stock and real estate markets despite a nationwide crypto ban implemented in 2021.
Investors are using grey-market dealers, rural bank cards, and overseas bank accounts to access cryptocurrencies, as well as popular platforms like OKX and Binance.
The situation has led to speculation that the Chinese government may be warming up to cryptocurrency, with Hong Kong serving as a testing ground.
🚀 Merry Christmas, Netflix
Netflix’s fourth-quarter results revealed a 13.1 million subscriber increase, marking its best-ever performance in the fourth quarter. The total global subscribers exceeded 260 million by the end of 2023, showing an annual increase of nearly 30 million.
The company also had very good success with its new ad tier (and its crackdown on password sharing), and has also gradually expanded its video game segment which gained some subscribers as well.
Netflix’s stock price rose 15% following the earnings release.
BUSINESS
Image courtesy of Tesla
🚘 Tesla announces a new vehicle model
This week, Elon Musk announced plans to start production of Tesla's next-generation EV at its Texas factory in Q2 2025, with production in Mexico. Following the announcement, Tesla's shares dropped over 10%, paired by stagnant sales, losing market share, and slow growth.
According to a Reuters report, Tesla aims for a June 2025 launch of a smaller crossover vehicle, and Musk mentioned potential price cuts to sustain market share.
Q4 2023 earnings: Net income reached $7.9 billion, doubling the previous quarter. Adjusted EPS of 71 cents, below estimates. Revenue of $25.17 billion, the slowest growth in over three years.
🍔 Burger King buys back
RBI, the parent company of beloved brands like Burger King and Tim Hortons, is investing $1 billion to buyout 1,022 Burger King locations as a way for direct control for renovations.
RBI's sales come 63% from Burger King, and this is a move to breath life back into the food chain, which has had slow service and questionable menu choices in the past few years. RBI hopes to do the same for Tim Hortons.
POLITICS
Image courtesy of Pablo Martinez Monsivais/AP
🍊 Trump wins New Hampshire
Donald Trump won the New Hampshire primary, solidifying his hold on the Republican presidential nomination. Nikki Haley, the final person running against Trump after Ron DeSantis dropped out, was only 10% behind Trump's lead, leaving her as a real contender.
The New Hampshire Democrats also held their primary, with Biden winning despite not even campaigning. The race also highlighted some of Trump's immigration agenda and policy promises if he returns to the White House.
🕰️ Potential ceasefire in Israel-Hamas war
Israel proposes halting fighting for two months in return for the release of more than 130 Israeli hostages and the bodies of 25 hostages reportedly dead. Hamas wants a permanent cease-fire, an Israeli withdrawal from Gaza, and the release of more Palestinian prisoners, (including those involved in the October 7 attack).
Talks are led by negotiators from Qatar, Egypt, and the U.S., but no resolution has been reached. The war has resulted in a displacement of 90% of Gaza's population, and up to 30,000 people have died, according to sources.
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— Jacob
📚 Book of the Week
Note: I don’t recommend books that I haven’t read or that I would never read. The books I recommend are books I have already read or that I will eventually read.
Feel Good Productivity — Ali Abdaal
Book Description:
We think that productivity is all about hard work. That the road to success is lined with endless frustration and toil. But what if there’s another way?
Dr Ali Abdaal – the world's most-followed productivity expert – has uncovered an easier and happier path to success. Drawing on decades of psychological research, he has found that the secret to productivity and success isn't grind – it's feeling good. If you can make your work feel good, then productivity takes care of itself.
In this revolutionary book, Ali reveals how the science of feel-good productivity can transform your life. He introduces the three hidden 'energisers' that underpin enjoyable productivity, the three 'blockers' we must overcome to beat procrastination, and the three 'sustainers' that prevent burnout and help us achieve lasting fulfillment.
He recounts the inspiring stories of founders, Olympians, and Nobel-winning scientists who embody the principles of Feel-Good Productivity. And he introduces the simple, actionable changes that you can use to achieve more and live better, starting today.
Buying a book helps fund mental health, and a cure for cancer. Learn more.