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Lyft Stock Performance
It wasn’t that long ago when we were baffled by the idea of hailing a ride in a stranger’s car. Back then, for many, the Uber-Lyft rivalry revolved around matters of personal preference: pink or black. But Uber has since expanded into verticals that now individually dwarf Lyft’s entire business – and in what some view as a winner-take-all market, Lyft’s future looks increasingly like an uphill battle … Lyft reported earnings that fell below analyst expectations, including a quarterly loss and a lower-than-expected ~$975M revenue outlook for Q1. On Friday, Lyft’s stock had its worst day since going public four years ago, with shares falling 36%+. By comparison, Uber called Q4 its “strongest quarter ever.” It made $4.1B in ride-hailing revenue (+82% YoY), $2.9B from Uber Eats and Postmates (+21% YoY), and $1.5B from Uber Freight (+43% YoY). Some think Lyft may need to merge with the likes of DoorDash to keep up.
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Stephen Curry’s Jock Taxes Breakdown
If you file your taxes through TurboTax or a similar online service, you’ve likely seen a certain question during your annual return: “Did you perform work in more than one state?” Given that this is the 21st century, there’s a decent chance you did. You might have responded to several emails from your boss during a long weekend in Denver or spent a day on Zoom before skiing in the Poconos. But a state’s department of revenue is unlikely to notice that you visited, or that you completed any work. Unless you’re a professional athlete. Their burden is known as the jock tax. Professional athletes owe a portion of their salary to most states and cities they visit – even for a single day. Unlike, say, nurse practitioners or graphic designers, jurisdictions know exactly when athletes are in town. They know how much they make. And they know how to go after them. For years, the jock tax has flown under the radar, known mostly to hardcore sports fans and accountants. Nobody, after all, really cares if millionaires have to file complicated tax returns. But the jock tax matters. Hardly anyone truly benefits from the tax, and one day in the future, even if you’re not an athlete, you may have to pay it.
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Monthly Migrants At U.S.-Mexico Border
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Bank Failures Are Common
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News Sites Are Seeing Fewer Visitors
The Data Examiner – (Notable) Remarks:
** The truth is the kindest thing we can give folks in the end. —- Harriet Beecher Stowe, from “The Pearl of Orr’s Island”
** A study by researchers at Yale published three years ago found that listeners have a better-than-random chance of discerning whether someone has a college degree by listening to the person speak just seven words. Put simply, your tongue gives you away. —- Peter Coy
** “No man treats a motorcar as foolishly as he treats another human being. When the car will not go, he does not attribute its annoying behavior to sin; he does not say, ‘You are a wicked motorcar, and I shall not give you any more petrol until you go.’ He attempts to find out what is wrong and to set it right. An analogous way of treating human beings is, however, considered to be contrary to the truths of our holy religion.” —- Bertrand Russell, “Has Religion Made Useful Contributions to Civilization?”(1930)
** Okay fine, I’ll give the baby wine! – Minnesota’s Lieutenant Governor Peggy Flanagan last week had this to say about medical sex changes for minors, which have fallen sharply out of favor across Europe but are just gaining steam here: “This is life-affirming and lifesaving healthcare. When our children tell us who they are, it is our job as grown-ups to listen and to believe them. That’s what it means to be a good parent.” As a mom, this is so comforting. Every night when I pour a glass of red wine for myself, our daughter desperately reaches for it. Yes. My six-month-old is a wino (wow it feels good to say it). Listen to babies telling us who they are! Mine is saying “Pass the cab, I’ve had a day.” —- Nellie Bowles
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The Data Examiner – Facts:
** The Memphis police gave Tyre Nichols at least 71 commands in 13 minutes. Many were contradictory or impossible to obey.
** California Democratic Rep. Maxine Waters continued her longstanding practice of funneling campaign cash to her daughter to run a lucrative operation during the 2022 election cycle, which netted the younger Waters another six figures in payments. Karen Waters pocketed $192,300 from her mother’s campaign to keep her “slate mailer” operation afloat between January 2021 and December 2022, a Fox News Digital review of Federal Election Commission filings shows. The setup involves outside campaigns paying Waters’ campaign to appear on the slate mailers – or endorsement mailers – sent out to constituents in the Los Angeles area.
** Grateful Dead legend Jerry Garcia’s relatives are truckin’ out of California, apparently because the Golden State’s high taxes and anti-business climate are just too harsh on the family’s marijuana business. Garcia Hand Picked, which the late guitar wizard’s family started in 2020, told SFGate.com the company just can’t make a go of it in the Golden State. An industry expert blamed high taxes, competition from the black market, and soaring crime for the decision to pull out of California.
The Data Examiner – Lens:
Nearly half of parents said they were raising their children differently than they had been raised.
The Data Examiner – Watch:
** Harvard professor answers questions about happiness. WATCH
** How is Trader Joe’s so cheap and popular? WATCH
** Why so many people need glasses now. WATCH
The Data Examiner:
As AI Tools Have Become More Robust, Automation Experts Have Philosophized About Replacing Vast Swaths Of Workers
McKinsey Global Institute recently predicted that 45M workers, or ~28% of the entire American workforce, would lose their jobs to automation by 2030. Most automation efforts have been centered around eradicating so-called lower-level and blue-collar jobs like warehouse workers, truckers, clerical assistants, and food prep workers. More recently, AI has threatened white-collar roles like accountants and journalists. But while executives at the top of the corporate food chain celebrate the cost-cutting virtues of AI displacement, they rarely seem to turn the spotlight on themselves. The incentives for workplace automation are largely financial. So why not start by replacing the highest-paid employee of them all – the CEO? … At Fortune 500 firms, the average CEO pay is now ~$16M per year. Over the past 45 years: The average CEO pay has gone up 1,460%. The average worker pay has only gone up 18%. As a result, today’s average CEO is paid the equivalent of 399 median workers. At larger companies, this ratio is often many multiples higher: For instance, in 2021, Amazon CEO Andy Jassey received a package worth $213M – equal to the collective wages of 6,474 Amazon employees. That’s enough workers to fully staff four fulfillment centers.
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SHOULD CONGRESS AUTHORIZE THE U.S. TO USE MILITARY FORCE AGAINST DRUG CARTELS?
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The Data Examiner – Worth A Look:
1. Nutritionist Samantha Grant
2. R.A. Lee’s Audiobooks
3. Ugly Mug Marketing
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