Hey there weekday warriors,

(Heads up, if you already know the yuge news about the future of The Water Coolest, you can skip this part...)

By now you've probably seen the headlines and the posts about some changes at Barstool. And, well, things are changing on my end too...

After nearly two years at Barstool, The Water Coolest is going independent (again). And I'll be in the driver's seat, which means not a damn thing is going to change (except, the logo and some legal language... obviously).

"So, do I have to do anything?" - you, probably

Yep. We'll be sending from thewatercoolest.com domain (again). So, to ensure you always get the emails, you should tell your email provider that you're cool with getting emails from [email protected].

Here's how to do it...

1. Add [email protected] to your address book/tell your email provider we're safe (here are instructions for every email provider).

2. That's it.

I appreciate you coming along for the ride. And if you have any questions, you can reach out directly at [email protected].

Keep on snapping necks and cashing checks,

Tyler

PS, Have some questions? Concerns? Been hoping to collab? Just want to chat? Drop me a note >

+ US stocks "experienced a third consecutive day of gains on Tuesday, led by the NASDAQ and S&P 500." (Investing.com)

+ The 10-year Treasury yield "came off its 16-year peak on Tuesday, and was tracking for its steepest single-day drop since August, as trading resumed in the U.S. bond market which had been closed for a holiday on Monday." (Reuters​)

+ Oil "settled lower on Tuesday, but bounced off session lows as concerns eased about potential supply disruptions from the battle between Israel and the Palestinian Islamist group Hamas, though traders remained watchful." (Reuters)

+ Bitcoin "finished the U.S. market day above the $27,000 mark as markets remain generally unaffected by the war in Gaza." (Coindesk)

+ The three most talked about stocks on WallStreetBets in the past 24-hours were: 1) Tesla +1.52% 2) Palantir +1.08% 3) Nvidia +1.16%.

Big fat liars

“Ozempic is killing our sales” is quickly becoming the new “supply chains issues are a major headwind.”

Just days after Walmart and Kellogg complained that consumers were eating less​ thanks to magic weight loss drugs, Pepsi called bullsh*t.

When PepsiCo dropped earnings Tuesday it reported beats​ on the top and bottom lines. It even boosted its forecast for the full year. Oh, and it didn’t complain about Ozempic eating its lunch. In fact, it said it’s had no impact whatsoever.

So how’d Pepsi manage to put up numbies?

It boosted prices… again. The average price of chips, soft drinks and other packaged goods contributing to the obesity epidemic in the US rose 11%​ in the quarter. And Coke’s little brother has the American consumer to thank for continuing to binge on its “affordable luxuries.” Side note: if you ever hear me calling Diet Pepsi a “luxury,” please help me get back on my feet, because I’ve certainly hit rock bottom.

The double-digit price hikes (which marks the 7th quarter in a row that Pepsi jacked up prices) more than offset a 2.5% decline in volume.

And Pepsi has no intentions of slowing down. The company said it expects “modest” price hikes next year… because as a society we refuse to stop washing down Frito Flavor Twists (Honey BBQ) with Rockstar Zero Silver Ice Energy Drink (no matter the cost).

The company could face more pressure in the year of our lord 2024 to chill out with their generous contributions to the world's inflation problem. France and other countries are putting pressure on grocers and food producers to control surging prices. Sounds like communist propaganda, but ok.

​Shares rose nearly 2% on the day after poking some major holes in other retailers’ narrative.

+ The number of people with at least $100 million has doubled since 2003 (Read)

+ Consumers sound off on things inflation made so expensive that they’re no longer worth it (Read)

+ ICYMI yesterday... San Francisco quarterback Brock Purdy makes nearly $1 million a year—but splits rent with a roommate and drives a Toyota SUV (Read)

+ You can keep the serious discussions about whether he’s innocent or guilty, just inject all the silly little anecdotes from the SBF trial directly into my veins. Caroline Ellison, Sam Bankman Fried’s ex lover throws up in mouth took the stand as the prosecutions' star witness yesterday. And she reportedly couldn’t pick out SBF in the courtroom. When asked to ID SBF, she had to look around the courtroom for like 30 seconds to find him. In her defense, most of their encounters were likely at orgies… oh, and he’s got a new haircut.

During her hours-long testimony, Caroline absolutely buried her ex. At one point she said “Sam directed me to commit these crimes." Caroline appears to have forgotten that snitches get stitches. (Read)

What else?

+ Apparently Birkenstock learned a thing or two from Arm... and Instacart... and Klaviyo. After watching other IPO darlings get bodied by the Fed’s higher for longer policy (which is great tagline for a weed company, btw) Birkenstock priced its public offering at the middle of the range ($46 per share). (Read)

+ Another day, another painful reminder that I should have renamed The Water Coolest “TWC.ai” and sold it for 9-figures when I had the chance. AMD announced that it bought Nod.ai, an (you guessed it) AI software maker. The company said Nod “augments AMD’s AI software capabilities.” But let’s not kid ourselves… this is a direct (over)reaction to its competitor Nvidia putting on a clinic in the AI space. Nvidia’s stock is up 222% YTD… while AMD is up just 70% over the same period. (Read)

+ Turns out Netflix might’ve been onto something with resisting getting into the ad game for years. A report confirmed that Netflix replaced the head of its ad biz after sales were just half of internal forecasts. Makes sense… that’s not even a C. Shares fell 3.2% on the day. (Read)

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

+ September Producer Price Index drops

+ The Fed Minutes are released

Yesterday, I asked What's the show that you try to get your kids to watch because you don't actually hate it?

Bluey won in a landslide. Followed by Ms. Rachel. Shoutout of the weekday warrior that said he's got a thing for Ms. Rachel. Your secret is safe with me.

Here's today's question...

This one is blowing up on Reddit...

What has inflation made so expensive that it's not even worth doing anymore?

Respond directly to this email and I'll share the best answers tomorrow.