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[203.55.21.200]) by mx.google.com with ESMTP id d21-20020a170902aa9500b001a55571febesi1446994plr.277.2023.05.05.05.13.28 for ; Fri, 05 May 2023 05:13:29 -0700 (PDT) Received-SPF: pass (google.com: domain of thedailyupside-zpcc1jikjkylrjj1t@cmail19.com designates 203.55.21.200 as permitted sender) client-ip=203.55.21.200; Authentication-Results: mx.google.com; dkim=pass header.i=@thedailyupside.com header.s=cm header.b=bPQPT81R; dkim=pass header.i=@cmail2.com header.s=cs2013 header.b=f6uchxV7; spf=pass (google.com: domain of thedailyupside-zpcc1jikjkylrjj1t@cmail19.com designates 203.55.21.200 as permitted sender) smtp.mailfrom=TheDailyUpside-zpcc1jikjkylrjj1t@cmail19.com; dmarc=pass (p=QUARANTINE sp=QUARANTINE dis=NONE) header.from=thedailyupside.com DKIM-Signature: v=1; a=rsa-sha1; c=relaxed/relaxed; s=cm; d=thedailyupside.com; h=Subject:From:To:Reply-To:Date:MIME-Version:Content-Type:X-Feedback-ID:List-Unsubscribe:Message-ID; i=Squad@thedailyupside.com; bh=dxWRUS1erzsJ+RkyE8XjpElZbIM=; b=bPQPT81RFyxanNMd3qUPwyf4pfE3UE5nVXbA7RBWW0WwQt+i/YSiAkvh72HEEkxfA+xIK3tgR/2K 1mlHKAWiGas7WKDsUN1DdyFyNU7YPbpb/ncvr5wYJrD3a56FstS1Vk5+LtO9/inGA+64uhRSIS/K OmqPQjerUmnC64jYiDs= DKIM-Signature: v=1; a=rsa-sha1; c=relaxed/relaxed; s=cs2013; d=cmail2.com; h=Subject:From:To:Reply-To:Date:MIME-Version:Content-Type:X-Feedback-ID:List-Unsubscribe:Message-ID; bh=dxWRUS1erzsJ+RkyE8XjpElZbIM=; b=f6uchxV7obTT3/qvaM3Jl7O+s8MNcdFKMMMCHcS3M7DlZ9rmLUURdXxzIAvNjDWRQKIGKp/2fEUU zKuhVOhBpU5esPiia+sD4zcCVlE+lVy0wxZ7iyVYm6lCYrXVrFvaU0kF4eIjzj//ct+7C0cbk/MP Vt50AgEORZm74/6PxhY= Subject: An Amazon Wannabe Wobbles From: The Daily Upside To: “newslettersponsorship@gmail.com” Reply-To: Squad@thedailyupside.com Date: Fri, 05 May 2023 22:13:05 +1000 MIME-Version: 1.0 Content-Type: multipart/alternative; boundary=”_8bdfceee-f91b-4353-ba57-80e895b5725c_”; charset=utf-8 X-Mailer: Create Send X-Complaints-To: abuse@cmail19.com X-Feedback-ID: CA1-t-zpcc:LI1-t-jjdlzj:CL1-t-tliuf:createSEND List-Unsubscribe: , Message-ID: –_8bdfceee-f91b-4353-ba57-80e895b5725c_ Content-Type: text/plain; charset=”utf-8″ Content-Transfer-Encoding: quoted-printable May 5, 2023 Read in Browser https://thedailyupside.cmail19.com/t/t-e-zpcc= -jikjkylrjj-yu/ TOGETHER WITH Good morning and happy Friday. You may not be having 1929 flashbacks anymore, but we=E2=80=99re not out of= the woods yet. This is a banking crisis, after all, and midsized and regio= nal banks are still feeling the worst of it. After PacWest let it be known that it is “exploring strategic options”, the= California-based bank saw its shares plummet by just over 50%. Meanwhile, = Western Alliance=E2=80=99s own share price evaporated by some 38%, while Co= merica and Zions Bancorp both suffered double-digit skids. It=E2=80=99s alm= ost beginning to look like Jamie Dimon=E2=80=99s assurances last week that = =E2=80=9Cthis part of the crisis is over=E2=80=9D only applied to his acqui= sition of First Republic. Morning Brief =E2=80=A2 Shopify came at the king, missed.= =E2=80=A2 China=E2=80=99s e-commerce heavyweights go= international. =E2=80=A2 The cost of doing sports bu= siness. Please do not delete this text. Please do n= ot delete this text. E-Commerce Layoffs Hit Shopify as it R= ethinks Logistics Strategy Shopify may have overstuffed its car= t. On its quarterly earnings call on Thursday, the once-upon-a-= time e-commerce darling announced a mass layoff of 20% of its staff, as wel= l as the sale of its logistics division and warehouse robotics operation. I= t=E2=80=99s a delayed but no less severe hangover from the company=E2=80=99= s pandemic glory days. Vertical Disintegration Let= =E2=80=99s tip our hat: Shopify dared to come right at the king =E2=80=94 b= ut it never made it across the moat. In February of 2022, amid slowing grow= th thanks to waning covid cases and shoppers returning to actual stores, co= mpany president Harley Finkelstein announced plans to Amazon-ify its busine= ss. He laid out an ambitious goal to become an all-in-one e-commerce coloss= us by building out a sophisticated fulfillment network that could make deli= veries to the vast majority of Americans with Prime-like efficiency. = The strategy culminated in the $2.1 billion acquisition of logistics = specialist Deliverr almost exactly one year ago. But one trip around the ol= d Gregorian later, and it’s clear that competing with Amazon and its massiv= e, decades-old logistics network is easier said than done. In a blog post a= nnouncing the moves Thursday, CEO Tobias L=C3=BCtke likened the once-hyped = logistics venture as a mere =E2=80=9Cside quest=E2=80=9D for the e-commerce= platform. Make that one expensive side quest: =E2=80=A2 The= logistics business is being sold to Flexsport, a decade-old freight and lo= gistics startup with over $2 billion in funding; Shopify is receiving a 13%= stake in Flexport, most recently valued at around $8 billion, as part of t= he deal. It=E2=80=99s also selling its warehouse robotics operation, which = largely came from a $450 million acquisition of 6 River Systems in 2019, to= British grocery fulfillment company Ocado Group. =E2=80=A2 Thu= rsday’s layoffs, which amount to roughly 2,000 employees, marks the second = major headcount culling for the company in the past 10 months after another= 1,000 or so jobs roles were slashed late last summer. It=E2=80=99s a snapb= ack after the company tripled its workforce during the pandemic. S= hopify=E2=80=99s share price jumped nearly 24% on the news, with Baird anal= yst Colin Sebastian writing in a note, =E2=80=9CWe applaud management for m= aking difficult decisions that set the company up better for long-term succ= ess, although this is a significant pivot.=E2=80=9D On Second T= hought=E2=80=A6: Flexport has a much more, shall we say, realistic vision o= f how it stacks up against Amazon, even when you add in the roughly 50 ware= house and package sorting centers it just scooped up. Instead of being a co= mpetitor of the e-commerce kings, CEO Dave Clark, himself a storied Amazon = veteran, told The Wall Street Journal that Flexport will be best positioned= as =E2=80=9Can extension=E2=80=9D of the Bezos operation. Beats being an a= fterthought. Pandemic optimism, meet post-pandemic pragmatism. = – Brian Boyle Please do not delet= e this text. Please do not delete this text. E-Commerce = China=E2=80=99s Online Shopping Giants Look Westward The = =E2=80=9Cshort-term headwinds=E2=80=9D Amazon CEO Andy Jassy has expressed = concerns about are blowing harder. PDD Holdings, the company be= hind the discount shopping app Pinduoduo, has moved its headquarters from S= hanghai to Dublin, signaling a major push into international e-commerce. Si= multaneously the online commerce wing of Alibaba is mulling a US IPO, sourc= es told Bloomberg [https://www.bloomberg.com/news/articles/2023-05-04/alib= aba-s-global-online-commerce-arm-weighs-a-us-ipo?srnd=3Dtechnology-vp]. Per= haps SoftBank=E2=80=99s public listing [https://www.thedailyupside.com/sof= tbanks-arm-is-set-to-list-on-the-nasdaq-later-this-year/] of chipmaker Arm = just gave them a bad case of IPO FOMO. The Irish Entrance = Pinduoduo is one of the biggest e-commerce operations in China, a ma= rket that has long been able to subsist largely off itself. But China=E2=80= =99s economy is no longer the unstoppable growth juggernaut it used to be. = So, inspired by the huge success that discount online fashion retailer Shei= n has found overseas, PDD Holdings launched a new international shopping ap= p called Temu in 2022. According to market research firm YipitData, there w= as $387 million traded on Temu=E2=80=99s platform in March alone. = Having germinated in the US, Temu arrived in several European markets la= st month, and will now solidify that presence with its new Dublin HQ. Irela= nd has long been the preferred EU base for US tech companies, due to its ex= tremely inviting corporate tax structure. PDD Holdings setting up camp lets= the company pursue its international ambitions, and brings a few other adv= antages: =E2=80=A2 A European HQ gives PDD Holdings a modicu= m of geopolitical cover as US-China relations steadily deteriorate. = =E2=80=A2 Settling in Dublin may also allow PDD Holdings to list Temu = separately from its core business overseas, Shanghai-based attorney Eugene = Weng told [https://www.ft.com/content/801ac5c4-9863-444e-986a-1e40280ea07f= ] the Financial Times. Temu=E2=80=99s success may well hinge on ju= st how far it can distance itself from Pinduoduo, which was suspended from = the Google Play Store in March. Google said it had booted the app after fin= ding malware on some versions of the app outside of the Play Store itself. = For China-based tech companies, even a soup=C3=A7on of suspicious code is a= big political problem, just ask Huawei or TikTok. Who Needs Fo= rty Thieves When You Have IPOs: Alibaba, a goliath of Chinese e-commerce, h= exsected itself (no, that=E2=80=99s not a real word but what the heck, it= =E2=80=99s Friday) in March, dividing into six privately-run entities. The = e-commerce entity that spun out as a result of that split is the one report= edly considering a US IPO as a way of tapping into international funds. But= even if Softbank=E2=80=99s Arm does go public, which is by no means certai= n, that still may not be enough to defrost an ice-cold IPO market. = – Isobel Asher Hamilton Pleas= e do not delete this text. Please do not delete this text. = SPONSORED BY CALIBER Bank Your Gains, Nix the Pain If= you=E2=80=99ve sold a major asset like a business, real estate, or even a = meaty slice of stocks, you know the dreaded capital gains tax can pour a bu= cket of ice water on what would otherwise be a thrilling windfall. = Luckily, Caliber [https://guide.caliberco.com/ctaf?utm_source=3DTheDai= lyUpside&utm_medium=3Demail&utm_campaign=3DTheDailyUpside-May5-2023-FridayN= ewsletter-Primary] can show you how to defer taxes on recent capital gains = until 2027 =E2=80=93 and earn a return on those deferred taxes in the proce= ss. Even if you=E2=80=99ve already filed your 2022 taxes, there= are still opportunities to defer and enjoy the benefits of tax incentives = on your gains from that year. Plus, if you grab Caliber=E2=80=99s investor= guide now [https://guide.caliberco.com/ctaf?utm_source=3DTheDailyUpside&ut= m_medium=3Demail&utm_campaign=3DTheDailyUpside-May5-2023-FridayNewsletter-P= rimary], you=E2=80=99ll also get a no-cost Investor Strategy call from one = of their experts. The deadlines to reduce your tax bill are ex= piring soon, so access the guide and connect with Caliber now! [https://gui= de.caliberco.com/ctaf?utm_source=3DTheDailyUpside&utm_medium=3Demail&utm_ca= mpaign=3DTheDailyUpside-May5-2023-FridayNewsletter-Primary] Ple= ase do not delete this text. Please do not delete this text. = Sports NFL Teams Pay Outrageous Salaries in an Era of Mega Deal= s (Photo Credit: All-Pro Reels/Flickr) What does an NFL QB with an elite arm have in common with a 17th-century tu= lip? Both are emblematic of an economic mania. With America=E2= =80=99s favorite sports league seeing its bottom line rise consistently it= =E2=80=99s becoming commonplace for the upper echelon of NFL quarterbacks t= o receive contracts that pay out more than $50 million a year, The Wall Str= eet Journal reported [https://www.wsj.com/articles/lamar-jackson-jalen-hur= ts-joe-burrow-record-contracts-14e84b63]. Big Pay Day = Jalen Hurts and the Philadelphia Eagles couldn=E2=80=99t clinch the bras= s ring from the Kansas City Chiefs at this year=E2=80=99s Super Bowl, but t= he Houston-born QB is still one of the most prized players in the league. J= ust last month, the Eagles offered him a five-year, $255 million contract, = the biggest in NFL history. Only two weeks later that record was shattered = when the Baltimore Ravens gave Lamar Jackson a $260 million deal for five y= ears. And that record isn=E2=80=99t likely to last long either, the WSJ=E2= =80=99s Andrew Beaton argues. =E2=80=9CThe Cincinnati Bengals= =E2=80=99 Joe Burrow and the Los Angeles Chargers=E2=80=99 Justin Herbert a= re both eligible for extensions this off-season. It wouldn=E2=80=99t be sur= prising if not one but both of them break the record,=E2=80=9D he wrote. = And it=E2=80=99s not just the NFL. Whether it’s players or entire= teams, mega-deals are on the rise all over sports: =E2=80=A2 = Aaron Judge just re-signed with the Yankees for nine years at $40 million= per season. The Washington Commanders, who came in last place in the NFC E= ast in 2022, are being sold for $6 billion. The UFC offered former heavywei= ght champ Franci Ngannou $8 million for one fight, and he still walked away= from it. =E2=80=A2 Many expensive offers these days are proppe= d up by increased revenue thanks to lucrative broadcasting deals. At the en= d of last year, the NFL and YouTube signed a multi-year streaming deal for = the league=E2=80=99s Sunday Ticket package at $2 billion a year. T= hrifty Boys: Some sports team owners remain frugal, though, like actors Rya= n Reynolds and Rob McElhenney, who bought Wales=E2=80=99 Wrexham soccer clu= b in 2021 for just $2.5 million. Granted, Wrexham is no Manchester United, = which is expected to sell for billions in the near future. At the time, Wre= xham competed in the fifth tier of the English soccer league and brought in= about $2 million in revenue each season. The pair reinvigorated the team, = which won the National League championship and secured promotion into the f= ourth tier EFL League Two, and a =E2=82=AC450,000 award this season. Where = others saw a money pit, the Deadpool and It=E2=80=99s Always Sunny in Phila= delphia stars saw a fixer-upper. – Griffin Kelly = Please do not delete this text. Please= do not delete this text. Extra Upside =E2=80=A2 L= et=E2=80=99s get it on: Ed Sheeran [https://www.cnbc.com/2023/05/04/ed-she= eran-didnt-steal-from-marvin-gaye-song-jury-rules.html] didn=E2=80=99t stea= l from Marvin Gay, jury rules. =E2=80=A2 Lock it up tight: Near= ly half of America [https://www.cnn.com/2023/05/04/economy/gallup-survey-a= mericans-money-in-bank/index.html] is worried about their money in banks, p= oll says. =E2=80=A2 If there was a tool that could show you whe= re every stock is headed the next 1=E2=80=933 days, would you try it? We=E2= =80=99ve all heard ChatGPT predicted past market moves (you know, the A.I. = that=E2=80=99s making all the buzz.) But their neural network capabilities = can=E2=80=99t touch those of VantagePoint=E2=80=99s A.I. [https://vantagep= oint.clickfunnels.com/market-movement-webinar-opt-in-vp?src=3DMMWebinar_MAY= 23_TDU_NLS1_Direct] Why wait for the future, when forecasting trends with u= p to 87.4% proven accuracy is at your fingertips right now? See the A.I. i= n action [free] right here [https://vantagepoint.clickfunnels.com/market-mo= vement-webinar-opt-in-vp?src=3DMMWebinar_MAY23_TDU_NLS1_Direct].* = *Partner. Please do not delete this text. Ju= st For Fun Taking it easy. [https://www.thedailyupside.com/just-for-fun-friday/] That=E2=80=99s normal, right? [https://www.thedailyupside.com/just-for-fun-= friday-2/] Have a great weekend! ADVERTISE [https://www.thedailyupside.com/advertise-with-us/] // CAREERS [= https://www.thedailyupside.com/careers/] No longer want to receive these = emails? Unsubscribe here https://thedailyupside.cmail19.com/t/t-u-zpcc-jik= jkylrjj-jl/.Copyright =C2=A9 2023 The Daily Upside, LLC., All rights reserv= ed. 1230 York Avenue, Box 154, New York, N=E2=80=8CY 1=E2=80=8C0=E2=80=8C0=E2= =80=8C6=E2=80=8C5 –_8bdfceee-f91b-4353-ba57-80e895b5725c_ Content-Type: text/html; charset=”utf-8″ Content-Transfer-Encoding: quoted-printable =09 =09 =09 =09 =09 =09 =09 =09 =09=09 =09=09 =09=09 =09=09 =09=09 =09Email Template =09 =09
Plus: Need an elite NFL QB= ? Got $50 million? ‌ ‌ ‌ ‌ ‌ ‌ ‌ = ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#8= 204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#8204= ; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &= #8204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#82= 04; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌= ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#= 8204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#820= 4; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ = ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#8= 204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#8204= ; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &= #8204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#82= 04; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌= ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#= 8204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#820= 4; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ = ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#8= 204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#8204= ; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &= #8204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#82= 04; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌= ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#= 8204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#820= 4; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ = ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ &#8= 204; ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
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Good morning and happy Friday.


Yo= u may not be having 1929 flashbacks anymore, but we=E2=80=99re not out of t= he woods yet. This is a banking crisis, after all, and midsized an= d regional banks are still feeling the worst of it.


Af= ter PacWest let it be known that it is “exploring strategic options”, the C= alifornia-based bank saw its shares plummet by just over 50%. Meanwhile, We= stern Alliance=E2=80=99s own share price evaporated by some 38%, while Come= rica and Zions Bancorp both suffered double-digit skids. It=E2=80=99s almos= t beginning to look like Jamie Dimon=E2=80=99s assurances last week that = =E2=80=9Cthis part of the crisis is over=E2=80=9D only applied to his acqui= sition of First Republic.

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Morning Brief
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=09=09=09=09=09=09=09=09=09=09=09=09• =09=09=09=09=09=09=09=09=09=09=09=09Shopify came at the king, missed. =09=09=09=09=09=09=09=09=09=09=09=09
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=09=09=09=09=09=09=09=09=09=09=09=09• =09=09=09=09=09=09=09=09=09=09=09=09China=E2=80=99s e-commerce heavyweights go international. =09=09=09=09=09=09=09=09=09=09=09=09
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=09=09=09=09=09=09=09=09=09=09=09=09• =09=09=09=09=09=09=09=09=09=09=09=09The cost of doing sports business. =09=09=09=09=09=09=09=09=09=09=09=09
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E-Commerce
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Layoffs Hit Shopify as it Rethinks Logistic= s Strategy
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Shopify may= have overstuffed its cart.
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On its quar= terly earnings call on Thursday, the once-upon-a-time e-commerce darling an= nounced a mass layoff of 20% of its staff, as well as the sale of its logis= tics division and warehouse robotics operation. It=E2=80=99s a delayed but = no less severe hangover from the company=E2=80=99s pandemic glory days.
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Vertical Disintegration
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Let=E2=80= =99s tip our hat: Shopify dared to come right at the king =E2=80=94 but it = never made it across the moat. In February of 2022, amid slowing growth tha= nks to waning covid cases and shoppers returning to actual stores, company = president Harley Finkelstein announced plans to Amazon-ify its business. He= laid out an ambitious goal to become an all-in-one e-commerce colossus by = building out a sophisticated fulfillment network that could make deliveries= to the vast majority of Americans with Prime-like efficiency.<= /td> =09=09=09=09
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The strateg= y culminated in the $2.1 billion acquisition of logistics specialist Delive= rr almost exactly one year ago. But one trip around the old Gregorian later= , and it’s clear that competing with Amazon and its massive, decades-old lo= gistics network is easier said than done. In a blog post announcing the mov= es Thursday, CEO Tobias L=C3=BCtke likened the once-hyped logistics venture= as a mere =E2=80=9Cside quest=E2=80=9D for the e-commerce platform. Make t= hat one expensive side quest:
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=09=09=09• =09=09=09The logistic= s business is being sold to Flexsport, a decade-old freight and logistics s= tartup with over $2 billion in funding; Shopify is receiving a 13% stake in= Flexport, most recently valued at around $8 billion, as part of the deal. = It=E2=80=99s also selling its warehouse robotics operation, which largely c= ame from a $450 million acquisition of 6 River Systems in 2019, to British = grocery fulfillment company Ocado Group.
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=09=09=09• =09=09=09Thursday’s l= ayoffs, which amount to roughly 2,000 employees, marks the second major hea= dcount culling for the company in the past 10 months after another 1,000 or= so jobs roles were slashed late last summer. It=E2=80=99s a snapback after= the company tripled its workforce during the pandemic.
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Shopify=E2= =80=99s share price jumped nearly 24% on the news, with Baird analyst Colin= Sebastian writing in a note, =E2=80=9CWe applaud management for making dif= ficult decisions that set the company up better for long-term success, alth= ough this is a significant pivot.=E2=80=9D
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On = Second Thought=E2=80=A6: Flexport has a much more, shall we say, r= ealistic vision of how it stacks up against Amazon, even when you add in th= e roughly 50 warehouse and package sorting centers it just scooped up. Inst= ead of being a competitor of the e-commerce kings, CEO Dave Clark, himself = a storied Amazon veteran, told The Wall Street Journal that Flexpo= rt will be best positioned as =E2=80=9Can extension=E2=80=9D of the Bezos o= peration. Beats being an afterthought. Pandemic optimism, meet post-pandemi= c pragmatism.
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– Brian= Boyle
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E-Commerce
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China=E2=80=99s Online Shopping Giants Look= Westward
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The =E2=80= =9Cshort-term headwinds=E2=80=9D Amazon CEO Andy Jassy has expressed concer= ns about are blowing harder.
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PDD Holding= s, the company behind the discount shopping app Pinduoduo, has moved its he= adquarters from Shanghai to Dublin, signaling a major push into internation= al e-commerce. Simultaneously the online commerce wing of Alibaba is mullin= g a US IPO, sources told Bloomberg. Perhaps SoftBank=E2=80=99s public listing of chipmaker Arm just gave=20 them a bad case of IPO FOMO.
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The Irish Entrance
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Pinduoduo i= s one of the biggest e-commerce operations in China, a market that has long= been able to subsist largely off itself. But China=E2=80=99s economy is no= longer the unstoppable growth juggernaut it used to be. So, inspired by th= e huge success that discount online fashion retailer Shein has found overse= as, PDD Holdings launched a new international shopping app called Temu in 2= 022. According to market research firm YipitData, there was $387 million tr= aded on Temu=E2=80=99s platform in March alone.
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Having germ= inated in the US, Temu arrived in several European markets last month, and = will now solidify that presence with its new Dublin HQ. Ireland has long be= en the preferred EU base for US tech companies, due to its extremely inviti= ng corporate tax structure. PDD Holdings setting up camp lets the company p= ursue its international ambitions, and brings a few other advantages:
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=09=09=09• =09=09=09A European H= Q gives PDD Holdings a modicum of geopolitical cover as US-China relations = steadily deteriorate.
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=09=09=09• =09=09=09Settling in = Dublin may also allow PDD Holdings to list Temu separately from its core bu= siness overseas, Shanghai-based attorney Eugene Weng told the F= inancial Times.
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Temu=E2=80= =99s success may well hinge on just how far it can distance itself from Pin= duoduo, which was suspended from the Google Play Store in March. Google sai= d it had booted the app after finding malware on some versions of the app o= utside of the Play Store itself. For China-based tech companies, even a soup=C3=A7on of suspicious code is a big political problem, just ask = Huawei or TikTok.
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Who= Needs Forty Thieves When You Have IPOs: Alibaba, a goliath of Chi= nese e-commerce, hexsected itself (no, that=E2=80=99s not a real word but w= hat the heck, it=E2=80=99s Friday) in March, dividing into six privately-ru= n entities. The e-commerce entity that spun out as a result of that split i= s the one reportedly considering a US IPO as a way of tapping into internat= ional funds. But even if Softbank=E2=80=99s Arm does go public, which is by= no means certain, that still may not be enough to defrost an ice-cold IPO = market.
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– Isobe= l Asher Hamilton
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3D""3D"" =3D"" 3D"" 3D""
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SPONSORED BY CALIBER
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Bank Your Gains, Nix the Pain
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If you=E2= =80=99ve sold a major asset like a business, real estate, or even a meaty s= lice of stocks, you know the dreaded capital gains tax can pour a bucket of= ice water on what would otherwise be a thrilling windfall. =09=09=09=09
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Luckily, Caliber can show you how to defer taxes on recent capital gai= ns until 2027 =E2=80=93 and earn a return on those deferr= ed taxes in the process.
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Sports
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NFL Teams Pay Outrageous Salaries in an Era= of Mega Deals
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=09=09=09=09=09=09=09=09=09=09=09(Photo= Credit: All-Pro Reels/Flickr)

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What does a= n NFL QB with an elite arm have in common with a 17th-century tulip? Both a= re emblematic of an economic mania.
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With Americ= a=E2=80=99s favorite sports league seeing its bottom line rise consistently= it=E2=80=99s becoming commonplace for the upper echelon of NFL quarterback= s to receive contracts that pay out more than $50 million a year, The W= all Street Journal reported.
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Big Pay Day
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Jalen Hurts= and the Philadelphia Eagles couldn=E2=80=99t clinch the brass ring from th= e Kansas City Chiefs at this year=E2=80=99s Super Bowl, but the Houston-bor= n QB is still one of the most prized players in the league. Just last month= , the Eagles offered him a five-year, $255 million contract, the biggest in= NFL history. Only two weeks later that record was shattered when the Balti= more Ravens gave Lamar Jackson a $260 million deal for five years. And that= record isn=E2=80=99t likely to last long either, the WSJ=E2=80=99s Andrew Beaton argues.
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=E2=80=9CTh= e Cincinnati Bengals=E2=80=99 Joe Burrow and the Los Angeles Chargers=E2=80= =99 Justin Herbert are both eligible for extensions this off-season. It wou= ldn=E2=80=99t be surprising if not one but both of them break the record,= =E2=80=9D he wrote.
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And it=E2= =80=99s not just the NFL. Whether it’s players or entire teams, mega-deals = are on the rise all over sports:
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=09=09=09• =09=09=09Aaron Judge = just re-signed with the Yankees for nine years at $40 million per season. T= he Washington Commanders, who came in last place in the NFC East in 2022, a= re being sold for $6 billion. The UFC offered former heavyweight champ Fran= ci Ngannou $8 million for one fight, and he still walked away from it.
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=09=09=09• =09=09=09Many expensi= ve offers these days are propped up by increased revenue thanks to lucrativ= e broadcasting deals. At the end of last year, the NFL and YouTube signed a= multi-year streaming deal for the league=E2=80=99s Sunday Ticket package a= t $2 billion a year.
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Thr= ifty Boys: Some sports team owners remain frugal, though, like act= ors Ryan Reynolds and Rob McElhenney, who bought Wales=E2=80=99 Wrexham soc= cer club in 2021 for just $2.5 million. Granted, Wrexham is no Manchester U= nited, which is expected to sell for billions in the near future. At the ti= me, Wrexham competed in the fifth tier of the English soccer league and bro= ught in about $2 million in revenue each season. The pair reinvigorated the= team, which won the National League championship and secured promotion int= o the fourth tier EFL League Two, and a =E2=82=AC450,000 award this season.= Where others saw a money pit, the Deadpool and It=E2=80=99s A= lways Sunny in Philadelphia=20 stars saw a fixer-upper.
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– Griff= in Kelly
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3D""3D"" =3D"" 3D"" 3D""
Please d= o not delete this text.
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Please d= o not delete this text.
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Extra Upside
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=09=09=09• =09=09=09Let=E2=80=99= s get it on: Ed Sheeran didn=E2=80=99t steal from Marvin Gay, jury = rules.
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=09=09=09• =09=09=09Lock it up t= ight: Nearly half of America is worried about their money in banks,= poll says.
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=09=09=09• =09=09=09If t= here was a tool that could show you where every stock is headed the next 1= =E2=80=933 days, would you try it? We=E2=80=99ve all heard ChatGPT= predicted past market moves (you know, the A.I. that=E2=80=99s making all = the buzz.) But their neural network capabilities can=E2=80=99t touch those = of VantagePoint=E2=80=99s A.I. Why wait for the future, when foreca= sting trends with up to 87.4% proven accuracy is at your fingertips right n= ow? See the A.I. in action [free] right here.*
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*Partner.
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3D""
Just For Fun<= /strong>

Taking it easy.


That=E2=80=99s normal, right?


Ha= ve a great weekend!
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ADVERTISE // CAREERS
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=09=09=09 3D"" =09=09=09 =09=09=09=09 =09 –_8bdfceee-f91b-4353-ba57-80e895b5725c_–

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