The house is coming together.

After graduating from a bachelor’s of fine arts, a 23 year old man tried to enlist in United States Air-force as an officer, but was immediately turned down thanks to his multiple speeding tickets. Later in life he would try to produce a childhood favorite television series ‘Flash Gordon’, and would be turned down. He would then set out to write an original space adventure inspired by Joseph Campbell’s book which featured spherical spaceships and light swords with ‘blade of fame’. His name is George Lucas.

Alright so today we’ve got:

• Nothing brings a house together like crisis, especially debt crisis.

• Tik-Tok tracked young users data who watched gay content.

• Biotech startups are facing the heat.

  Let’s see what we got

The Big Picture

Weeks after Janet Yellen was quoted saying US could default on it’s debt by June 1st, democrats and republicans have been working together to find a solution to raise the country’s borrowing limit.

The options they are weighing include cuts in federal spending as well as increase in their borrowing limit. Another option the Democrats are weighing right now is increasing taxes in order to increase federal income. White House is right now in talks about debt ceiling short term management by increase in borrowing. This is until there is an acceptable bipartisan approach is approved going forward.

Sector Sweep

Tech

• Tik-Tok kept logs of US users who watched gay content. Former employees said that they were able to access this list through a dashboard. Tiktok spokesperson released a statement saying that this list was deleted from the dashboard. Being able to access this list of sexual orientation was a breach of privacy and non conformance to social media regulations.

• Google is moving away from it’s decade long search interface, as now users who search for specific information would be provided a chatbot style reply instead of the ten blue links. This is in wake of emergence of ChatGPT.

• Federal Trade Commission(FTC) has reportedly proposed barring META from monetizing it’s young users.

Space

• Sir Richard Branson owned Virgin Galactic is planning to kick off space tourism business with about 23 journeys expected per month.

Real Estate

• Real estate for medical research labs, which once were at their peak as they were working on the Covid-19 vaccine, is cooling off. This is mainly because capital markets have dried up, interest rates have climbed and there are recession worries. Biotechs startups are facing the heat, as they have had to temper their growth plans, layoff thousands of employees and face falling stock prices.

That’s all for today folks. Do keep a lookout for our weekly email about stock deep dives and personal finance strategies this Saturday.

BTW, do tell us how we did. Just hit us with a reply.

Cheers!

Memetic Universe

Who said markets can’t be timed?

Do you believe in cycles?