OpenAI will spend $6 billion on stock-based compensation this year, half of its revenue
Source: Conor Sen
Is copper the new gold?
Source: J-C Parets
📢 China's Economic Slowdown Deepens in November 📉
China's economic performance in November fell short of expectations across key metrics, signaling a deepening slowdown as authorities grapple with weak demand, property sector decline, and supply-side constraints. Key data points: 🔴 Retail Sales: Rose 1.3% year-on-year (YoY), sharply missing the 2.8% forecast and slowing significantly from 2.9% in October. 🔴 Industrial Production: Climbed 4.8% YoY, missing the 5.0% forecast and marking its weakest growth since August 2024. 🔴 Fixed-Asset Investment (YTD): Contracted 2.6% over the January-November period (worse than the 2.3% forecast). This contraction deepened from the prior period (1.7% drop) and represents the sharpest slump since the 2020 pandemic outbreak. Source: CNBC
🗓️ A Look Back at the Dot-Com Bubble's Aftermath
For those unfamiliar with the late-1990s internet bubble that burst in March 2000: the pain was initially confined. As Peter Berezin of BCA Research highlighted, non-technology stocks continued their ascent for a full year before the broader market succumbed to the 2001 recession. Is this history set to repeat, ushering in another "great rotation" in the coming months?
We are running into the 4th and 5th best 2-weeks periods.
And they happen to be back-to-back... Source: Goldman Sachs, isabelnet, RBC
This monetary policy cycle is much less synchronized than it used to be
Source: Mo El-Erian
Africa is a critical minerals powerhouse
The Continent holds the keys to Green Tech Map highlights producers/reserves: DRC: Cobalt, Copper, Niobium, Tantalum South Africa: Platinum Group Metals, Manganese, Vanadium, Rare Earths Zambia: Copper Namibia: Lithium Tanzania/Zimbabwe: Graphite, Rare Earths Ghana/Gabon: Manganese Rwanda/Burundi: Tantalum Bottom-line: from EV batteries to renewables Africa is indispensable. And it has much more to offer than minerals. Source: Jack Prandelli, theoutlier.co.za
🤯 The Hidden Engine Powering the US Economy
Everyone is talking about interest rates and inflation, but here’s the underappreciated truth: The average US household’s net worth has silently exploded thanks to unbelievable equity returns over the last five years. 📈 That extra few hundred dollars on discretionary spending? It’s mentally offset by a stock portfolio that's sitting significantly higher. The Takeaway: This "wealth effect" isn't just a coincidence, it's likely among the reasons why the long-predicted recession keeps failing to materialize. When people feel richer, they spend! Source: Boring_Business @BoringBiz_
