Cheer up. You could have a worse boss. Like the CEO of Wayfair, who told his employees in the company-wide holiday email that they need to stop being lazy.

Here’s what we’re getting into today…

Enjoy the next 4 minutes and 12 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks “were higher after the close on Wednesday, as gains in the Consumer Goods, Healthcare, and Financials sectors led shares higher.” (Investing.com)

+ The 10-year Treasury yield “dropped nearly 10 basis points to 3.78%." (CNBC)

+ Oil “prices dropped nearly 2% on Wednesday, eating into the previous day's gains as investors monitored developments in the Red Sea, where shippers are returning despite further attacks on Tuesday.” (Reuters)

+ Bitcoin had a big day, climbing nearly 3%.

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Marathon Digital +15.24% 2) Tesla +1.88% 3) Visa -0.08%.

Welp, if there was anyone left that didn’t know you could just use ChatGPT to circumvent the NY Times paywall, there isn’t now…

That’s because the NYT just filed a lawsuit against ChatGPT maker OpenAI and its sugar daddy, Microsoft, for “mass copyright infringement.” Spoiler: OpenAI is having its Napster moment…

The Times sued both AI players, seeking “billions of dollars in statutory and actual damages” for “unlawful copying and use of The Times’s uniquely valuable works.”

And they’ve got a point…

OpenAI has been using The Times’ and pretty much everyone else’s data and content to train its large language models without so much as offering up a ChatGPT Plus discount code…

The lawsuit points out that some ChatGPT responses are basically a copy-paste of Times’ articles. But that’s not the only thing that has the Times’ a** totally chapped. Sometimes ChatGPT attributes incorrect info to the newspaper and removes affiliate links from Wirecutter content. Listen, I hate to side with the Times, but this seems pretty open and shut…

Piling on

The NYT is just the most recent content creator to point out that OpenAI’s business model is complete and utter bullsh*t.

A handful of authors have already lawyered up. And Axel Springer, which owns Business Insider and Politico, made a big enough stink that OpenAI cut a deal with them to use their content.

Just yesterday, rumors began swirling that Apple has begun talking to NBC, Condé Nast, and others about licensing arrangements that would allow Apple to train their models with the publisher’s content. The deals could be worth as much as $50M…

Your move, OpenAI… and Microsoft.

+ I became a millionaire at age 27—here are 4 ‘unpopular’ rules rich people follow that most don’t (Read)

+ Cars are losing their value at a slower rate (Read)

+ ICYMI... The Nasdaq Is About to Do Something It Has Only Done 5 Times Before. History Says This Is What Will Happen in 2024. (Read)

+ I have some bad news for the get-rich-quick schemers who loaded up on Apple Series 9 and Ultra 2 watches in hopes of selling them on the black market. An appeals court temporarily paused the import ban imposed on the timepieces by the International Trade Commission.

In case you’re not the kind of virgin who sleeps out in front of the Apple Store every time new AirPods drop, Apple was accused of copyright infringement for the blood oxygen monitor tech in a handful of its watches. Turns out Masimo, a healthcare company, originally developed the product.

The ITC forced Apple to halt sales, and the Biden administration refused to overturn the decision.

The temporary deal will allow the company to sell watches until the ITC offers a final decision. They have until January 10th to clap back.

Shares of Masimo fell about 4.5% on the day. (Read)

+ Real talk: why does MicroStrategy need 2.1k employees? Isn’t the entire company just Michael Saylor buying Bitcoin every few weeks (in between tweeting unhinged sh*t?)

MicroStrategy just bought another $615M worth of BTC between Thanksgiving and Christmas. That’s 14,620 bitcoins. And it brings MSTR’s total holdings to 185k bitcoin, worth just shy of $6B. (Read)

+ And this is why people say innovation is dead at Apple…

Apple’s product design chief Tang Tan has jumped ship. He’ll join Jony Ive’s company LoveFrom where he’ll reportedly work on the Jony Ive-Sam Altman AI hardware product that’s being called the “iPhone of artificial intelligence.” (Read)

+ How was your year-end bonus? Masa Son’s Softbank just scored $7.6B courtesy of T-Mobile. Softbank, which owned Sprint (friendly reminder: T-Mobile bought Sprint in 2020), had decided to forfeit a boatload of shares… unless the combined company hit a certain level. Welp, they hit that level last week…

Softbank shares rose 4%, but more importantly, the cash gives Masa the war chest he needs to throw billions of dollars at the next Adam Neumann. (Read)

Here's what I'm keeping an eye on today...

+ The pending home sales index report drops

+ The launch window for SpaceX’s latest US Space Force mission opens

Yesterday, I asked What’s the move (work this week or use PTO)?

58.6% of you voted to work this week.

Here’s today’s question…

Since it’s that time of the year when insufferable people share their favorite books on LinkedIn (even though no one asked)…

Oh, and one more thing…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of a God-fearing family man with sh*t-for-brains. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.