Hey there weekday warriors,

Say what you want about Janet Yellen’s time as Fed Chair or Treasury Secretary. But don’t ever question her loyalty to the United States of America. You see, Jan was pictured stopping at In N Out in the SF airport yesterday ahead of her meeting with Chinese President Xi Jinping. And I have it on good authority that she crushed a burger WITH onions. What. A. Savage. Absolutely zero f*cks given about what her breath smelled like heading into a meeting with America’s mortal enemy. No mints… only power moves.

Here’s what else we’re getting into…

• Airbnb buys AI startup… and it’s not entirely clear why

• Home Depot cancels inflation

• RIP Henry Blodget

Enjoy the next 4 minutes and 19 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

+ US stocks "closed higher Tuesday as sliding Treasury yields paved the way for tech stocks to rack up gains after a cooler-than-expected inflation report supported investor expectations that the Federal Reserve's hiking cycle has ended." (Investing)

+ The 10-year Treasury yield "tumbled Tuesday as the latest inflation figures showed a dramatically slower pace of price increases last month." (CNBC)

+ Oil "prices were little changed on Tuesday, paring early gains on signs tensions in the Middle East could be easing and uncertainty about U.S. oil inventories." (Reuters)

+ Bitcoin “briefly dove to as low as $34,970 during afternoon hours from near $36,600 this morning after the Consumer Price Index (CPI) for October came in flat versus expectations for a slight rise.” (Coindesk)

+ The three most talked about stocks on WallStreetBets in the past 24-hours were: 1) Nvidia +2.13% 2) Tesla +6.12% 3) C3.ai +7.36%.

AI-bnb

Brian Chesky just used the infinite shareholder value cheat code (↑ ↑ ↓ ↓ ← → ← → B A)…

Shares of AirBnb jumped more than 6% on news that it was acquiring 12-person AI startup Gameplanner for ~$200M (reportedly…).

“Oh cool, so what does Gameplanner do?” - literally all of us

Uber doesn’t own any cars. Airbnb doesn’t own any real estate. And Gameplanner.ai doesn’t do anything.

It’s not entirely clear what the f*ck a Gameplanner.ai is since the startup is in stealth mode (code name for no revenue)… but it doesn’t really matter since it’s got a .ai URL.

“wE iNvEsT iN FounDeRS, NoT BUSInessEs”

Airbnb is taking a page out of the early-stage VC playbook with its first acquisition as a publicly traded company.

You see, Gameplanner has got pedigree (if nothing else). Its founders previously built Siri (yes, the Siri that was eventually sold to Apple) and the tech that eventually became Samsung’s Siri ripoff (see: Bixby).

Airbnb didn’t offer any clues either…

In a prepared statement that’s straight out of the Gospel according to Adam Neumann, Airbnb CEO Brian Chesky said “AI will rapidly alter our world more than any other technology in our lifetime, but we need to ensure that it augments humanity in a positive way.”

For what it’s worth, BC has pointed out how important AI will be to the success of its hotel killing platform. ABNB sees a future where an AI chatbot acts as a concierge to help travelers find the right accommodations and plan their trip. Now if it could just figure out how to fight the municipal governments banning Airbnbs…

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Yesterday, I announced the biggest product launch in the history of The Water Coolest…

TWCPrimePlus+ is TWC’s new premium (yes, that means paid) subscription tier (have no fear, your daily morning newsletter will always be free).

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+ 31% of millionaires say they’re part of the middle class, survey finds. ‘People feel squeezed,’ advisor explains (Read)

+ This chart shows why millennials, the biggest generation in American history, will keep housing prices sky-high for years to come (Read)

+ Jeff Bezos Believes CEOs Should Have Less Stress Than Employees: 'There's This False Idea That CEOs Are Under The Most Stress. I'm Like Why? You're In Charge' (Read)

+ ICYMI yesterday... ‘Money dysmorphia’ could be keeping you from building wealth, expert says (Read)

+ *Dave Portnoy dances on Henry Blodget’s grave*

Not unlike his career in the securities industry, Henry Blodget’s time as CEO of Business Insider is coming to an end… and it doesn’t appear to be his choice. The founder and CEO of Business Insider will turn over the keys to the kingdom to Barbara Peng as the company looks to double down on its subscription model.

And she’s not wasting any time making her mark. The publisher is changing its name back to Business Insider… from just Insider. Add the "Business." "Business Insider." It's cleaner. (Read)

+ Home Depot just canceled inflation. The home improvement retailer said during its earnings call yesterday that, like you in high school, inflation has peaked. CFO Richard McPhail said, “I think the most important observation we’ve made is that the worst of the inflationary environment is behind us.” Shares mooned 5.5% after HD declared victory over rising prices on behalf of the human race. Of course, the top and bottom line beats probably didn’t hurt either. (Read)

+ Do you remember when George Bush landed on an aircraft carrier to declare victory in Iraq? Yesterday’s CPI report was basically that for Jerome Powell (friendly reminder: we proceeded to fight that war for almost another decade).

Inflation came in flat month over month and was up just 3.2% vs. the same period last year. Both figures came in below expectations, and investors acted accordingly. The S&P 500 jumped almost 2% on the day. Why? Because the smartest guys in the room believe rate hikes are over, like your parent’s marriage after your dad got caught using Ashley Madison. (Read)

+ The good news is that the House just passed a bill that would keep the government open for business ahead of Friday’s deadline. The better news is that it’s got support in the Senate.

So what’s the bad news? It’s an absolute abomination of a legislative document that will see the American people getting double-teamed by the bill’s f*ckery. It proposes a laddered approach that will split appropriations into separate deadlines. Translation? We could be facing partial shutdowns in January AND February. (Read)

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

+ Cisco, TJX, Palo Alto Networks, Target, JD.com, and XPeng report

+ President Biden will meet with Chinese President Xi Jinping in the newly homeless-less SF

+ October PPI data drops

+ We’ll also get the October retail sales report

Yesterday I asked What foods are the biggest offenders of shrinking sizes over the years?

There were literally only two answers: Girl Scout Cookies and pretty much any bag of chips.

Here’s today’s question…

Janet Yellen put on a master class in power moves (read: ate onions before a meeting with an adversary).

What’s the biggest power move in the business world?

Reply directly to this email and I’ll share the best answers tomorrow.

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.