Tequila & Trillions🍸
This Week in Review☕️: Rapper sues alcohol giant | AI takes Wall Street by storm | Nvidia becomes ninth most valuable company | Consumers cut down on restaurants | Is a College degree still worth it |
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Quick Bites:
Celebs x Business💰: Sean "Diddy" Combs is suing Diageo over his alcohol brands because the company considers them "black brands".
Ok Puff Daddy are we really gonna use racial politics to get people bamboozled? 🤔
Also, has he ever considered a lotta folks don't buy booze that famous people slap their names on because they assume it tastes like shit.
And truth be told, it usually does.
Key Highlights, reported by CNBC:
💡Diddy entered an equal partnership with Diageo in 2007 for the marketing of Ciroc vodka, followed by co-purchasing his DeLeon tequila brand in 2013
💡Diddy claims Diageo "sabotaged" his DeLeon tequila with shoddy packaging that "made the product look cheap"
💡Shows how other celeb brands are favored, such as George Clooney’s Casamigos tequila.
Legal documents show: Don Julio was distributed in 36% of retail outlets, compared with 34.4% for Casamigos, and just 3.3% for Combs’ DeLeon in 2022
💡Diddy claims his brands have been “starved” of production, distribution and sales resources
💡The rappers lawyers are seeking a court order for “equal treatment” they say Diageo “contractually promised” under the partnership
💡They’re also seeking “billions of dollars in damages due to Diageo’s neglect and breaches”
Our Thoughts💡: Dude is almost worth $1bn. Instead of doing something with that money, he's suing people for more. Go figure.
PS. Don't celebrities always get caught slipping?! Like don't companies have quarterly calls to report on this sorta thing?
He should have known. He's a business tycoon right? They signed the dotted line, just take the money and friggin’ RUN
Artificial Intelligence📱: AI made Nvidia the world’s most valuable chip maker.
The company's valuation soared past $1 trillion last week, with only 7 American companies every being worth a trillion dollars.
Nvidia shareholders right now👇🏻
Fun Fact💡: In 1993, CEO Jensen Huang purchased 20% of Nvidia for $200 because that was the only cash he had in his pocket when the company was being incorporated.
Today, that stake is worth a cool $36 billion.
Moral of the story💡: CASH IS KING
CEO Jensen Huang flew to Taipei to give a commencement speech at National Taiwan University. Key takeaways:
💡”We are at the beginning of a major technology era, like PC, Internet, mobile, and cloud. But AI is far more fundamental"
💡"Agile companies will take advantage of AI and boost their positions. Companies less so will perish"
💡"Confronting our mistake, and with humility asking for help, saved Nvidia. These traits are the hardest for the brightest and most successful"
Our Thoughts💡: Maybe the most important quote of all:
"Run, don't walk. Remember, either you're running for food or you are running from being food."
Immediately reminded us of Al Capone: "You're either at the table, or on the menu"🍖🍖
Now ain't that the truth. DO or DIE folks. PERIOD.
Education 📚: Graduation season is here so the question arises: Is a college degree still worth it?
More than 2.5 million fewer people are pursuing higher education now compared to more than a decade ago, CNBC reports.
The research shows this is primarily a financial issue as most high school students believe they're being priced out of a degree.
No sh*t. A top-tier college education will cost you 90k/per year going forward.
That's $4180 per month for TEN years after graduation at 7% interest.
Umm.. NO THANKS 🖕🏻
Others are evaluating whether a degree is a good return on investment versus alternative career training opportunities.
Furthermore, Covid-19 accelerated the enrollment crisis, not just because of safety reasons, but also because a significant number of students did not want to pay for a 4-year degree via Zoom.
Can't expect Greek Life knuckleheads to take responsibility for risking the lives of those actually in college to learn.
In a country with the raunchiest frat parties with sweaty teens on hormonal overdrive- it was only a matter of time before an outbreak became the story on every campus.
Let's be honest- no one gives a f*ck about social distancing once those jello shots kicks in.
However, data also shows that a college degree can almost always be worth it:
People who have a bachelor's degree generally end up making 75% more than those who only have a high school diploma, according to a report from the Georgetown University Center on Education and the Workforce.
Our Thoughts💡: Truth be told, most universities like Harvard and Princeton have both the fat endowments to face the declining applications plus enough preppy over-achieving seniors lining to enter their halls next year.
Also, 80% would be legacies that can afford to spend the extra bucks.
They're probably spending the summer playing polo while managing their family fund, which given the S&P right now, would be crushing it +10% in June itself
Food🍴: Consumers are likely to stop eating out at restaurants due to rising inflation.
In April, restaurant foot traffic fell 3.5% compared with a year earlier, according to CNBC.
Guys, what's happening this decade? We already went through:
💡Covid-19
💡Mandatory vaccination
💡GMO food
💡Immigration crisis
💡Fake news
💡Zero free speech
💡Proxy war in Europe
💡Rising energy bills
💡Global warming
💡WEIGHT GAIN
Like $2 for 1 hashbrown at McDonalds is absolute madness. That was our comfort food for f*ck sake
Restaurants that have seen changes to consumer behavior are switching up their strategies. Chipotle, for example, plans to pause price hikes unless inflation heats up again.
Meanwhile, food chains like Starbucks and Burger King claim they haven't seen a significant shift of people trading down or spending less at their stores.
Our Thoughts💡: We don't need fancy dinners and michelin-star restaraunts. You cook us spicy Nasi Goreng and we'll be the happiest folks in the world 😌😌
Quicker Bites:
Ex-VP Mike Pence files papers to join White House Presidential Race.
Apple unveils its first mixed-reality headset, starting at $3,499.
Spotify lays off 200 people, or 2% of its workforce.
Coinbase sued by SEC for breaking US Securities rules.
Lionel Messi is leaving PSG after 2 years at the club.
India: Deadly train crash in Odissa, 80 bodies unindentified.
Singapore will end horse-racing after 180 years in order to reclaim land.