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0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. Shein confidentially files for U.S. IPO, as Reddit, Skims explore possibilities
Shein's last valuation: $66B, in May 2023, from $100B in April 2022.
Estimated 2x P/S, 60x P/E.
Goldman Sachs, JPM Chase, and Morgan Stanley are the lead underwriters.
ETA: 2024.
Headquarters moved to Singapore, from China, in 2021.
Reddit sought a $15B valuation when talking to investors in 2022.
Kim Kardashian's Skims was recently valued at $4B and is also testing the waters.
2. Cyber Monday online sales expected at $12.2B in U.S., +8% YoY
Today: actual numbers are expected.
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3. Late-stage VC suffers most in Europe, with fewer rounds, lower valuations
Total capital invested fell by about half vs. 2021/2022, similar to the U.S.:
$100M+ rounds were particularly hit
Valuations of late-stage startups were also hit
Seed-stage startups have proved more resilient, with a median valuation of $6M for Europe, vs. $12M in the U.S.
4. iPhone shipments at 53% U.S. market share in Q3; Samsung 25%
5. Financial happiness means $1.2M net worth to Americans
71% say money would solve most of their problems.
73% experience financial stress.
6. TikTok encouraging creators to do 1min+ videos, rather than <15sec
The goal is to emulate YouTube, which has been taking market share in short-form video.
Users spend 50%+ of time watching 1min+ videos.
Current max length is 10min, 15min is in testing.
7. 2.91M fly in U.S. on Sunday, a record, at +14% YoY
8. Elon in Israel: āI'd like to helpā rebuild Gaza, comparing it to post-WW2 Germany, Japan
Elon spoke in a 23min X Spaces with PM Netanyahu:
9. Interesting videos, posts, and memes
10. Other headlines
AI
AWS launches new AI features: Transcribe, Personalize, Lex.
Sports Illustrated posts fake AI articles written by fake AI authors.
GAIA: new AI model benchmark.
Google Deepmind Chief Scientist: interview.
OpenAI: how much is it worth now? Matt Levine opines.
Tech
Foxconn to invest $1.54B in India.
Vargo's $4K XR-4 headset promises better passthrough than Vision Pro.
AWS announces 3 new serverless offerings.
YouTube Playables games arrive in beta for Premium users.
$10B+ family office of Whatsapp co-founder: a look at Newlands.
Salesforce products to be available at AWS Marketplace.
Oxford Quantum Circuits raises $100M for compute-as-a-service.
Amazon One Enterprise brings palm-scanning tech to business.
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Tech & law
Amazon, iRobot deal: EU regulators have concerns.
Bumble, Match suspend ads on Instagram after WSJ report.
Meta's $5B privacy deal with FTC can move forward with revisions: judge.
U.S. worried about Chinese ties of Emirati AI firm G42.
Biotech
Loyal expects canine longevity drug approval in 2026.
Amaranth Foundation publishes Bottlenecks of Aging report.
Visceral fat linked to Alzheimer's amyloid aggregation.
Cradle, AI protein designer, raises $24M.
FDA approves 1st therapy for rare type of non-cancerous tumors.
Business
Amazon seeks 50K sq. ft. in Miami, after Jeff Bezos's move.
āAuthenticā: Merriam-Webster's Word of the Year, ahead of deepfake, rizz.
Crypto
U.S. politics
Trump's DC judge rules against subpoena for missing J6 cmte. records.
New Trump book by Swan, Haberman expected in 2024/2025.
Nikki Haley to meet billionaire Langone in NY for potential backing.
World
Putin freezes salaries for non-military government employees.
WSJ reporter's detention extended until at least Jan. 30.
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