BREAKING: UPS, $UPS, to cut 12,000 jobs after what its CEO called a "difficult and disappointing" year
The company has stated that they are looking to cut $1 billion of annual costs. UPS stock was down 6% after the announcement. Over the last 3 months, layoffs have quickly spread from technology companies to just about every industry. Shipping is now the latest industry to feel the pain. Note that UPS announcement takes place 6 months after the famous 170k salary package announcement by UPS who was at the time desperate to find new drivers. Time flies... Source: The New York Times, The Kobeissi Letter
Discipline vs. Talent
Source: Yasin Arafeh
Royal Caribbean’s "Icon of the Seas" has set sail on its maiden voyage. It’s five times the size of the Titanic.
Source: Jon Erlichman
Elon Musk said that the first human patient has received a brain implant from his startup Neuralink Corp.
A significant step forward for the company that aims to one day let humans control computers with their minds. In a post on X, formerly Twitter, Musk said that the patient is recovering well, and that initial results of the procedure were promising. Source: Bloomberg
JUST IN: Fidelity has marked up the value of its shares in X by 11% during the month of December, according to a new disclosure
Usage of X is currently at an all time high of 384 billion user seconds per day. It is also believed that the launch of Elon Musk's AI company, Grok, has helped increase valuation. X is currently the #2 news app on the App Store. Source: The Kobeissi Letter
As a reminder. The bank never goes bankrupt and G7 countries will NOT default on their claims. Adjustment takes place through money debasement
There are 3 ways to invest at a time of FIAT currency: 1/ Spend 2/ Invest in risk assets 3/ Invest in store of values
"Australia (67%) and Canada (74%) have the highest percentage of money losing companies in the world and Japan (15%) has the lowest" - via @AswathDamodaran
Source: Charlie Munger Fans
Where the next 1,000 babies will be born
Source: Amazing maps
