Attention Economy

Good morning! Well, it was another not-so-slow weekend for news, with Biden dropping out and the world still getting its head around the biggest IT outage in history (or, “[Y24K”](). Today we explore: - Joever: Donations to a Democratic PAC jumped on Biden’s exit. - Attention economy: LinkedIn’s adding games and AI to keep users plugged in. - Macy’s: The iconic department store is betting on itself. Have feedback for us? Just hit reply - we'd love to hear from you! TOGETHER WITH [Sponsor Logo](   The Democratic party’s money machine is up and running once again. After President Biden dropped out of the 2024 race, online donations to Democrats have jumped, with political action committee ActBlue reporting that by 9 p.m. EST yesterday it had received nearly $50 million in donations. By the day’s end, [data collected]( by Ryan Murphy reveals that the total had climbed over $68 million, by far the largest amount raised by ActBlue in a single day in 2024 (the second largest was at the end of June, around the debate). The donations suggest that Democratic donors are willing to get behind Kamala Harris. Betting markets, tracked by Polymarket, give Trump a 64% chance of winning the White House in November, with Harris at 29% per the latest [data]( as of 6:50 a.m. EST. [Read this on the web instead](   Gamification LinkedIn, the Microsoft-owned platform where people go to network, look for new jobs, or post nonsense dressed as enterprise sales [wisdom](, has added mini games and artificial intelligence features to help visiting become a “daily habit” for users, the site’s editor-in-chief told [the FT](. The first games dropped in May, with some LinkedInners surprised by [how fun]( the puzzles are, as the platform shifts further from its work-oriented origins. While its artificial intelligence features are likely a little less entertaining (employers can enlist [AI assistants]( to “simplify the recruitment process” or “optimize job posts”) LinkedIn execs are hoping that the tech will see more of their ~1 billion members become power users. B2Bs, humblebrags, and billions After launching in 2003 and going public in 2011, LinkedIn has become a necessary platform for employees and employers around the world. In 2016, Microsoft splurged more than $26 billion to buy the company, making it the tech giant’s most expensive acquisition at the time. It’s hard to predict the future, but articles like “[4 Reasons Microsoft Wasted $26.2 Billion To Buy LinkedIn](” reflected a common school of thought at the time, with many questioning the platform’s financial potential. The mosaic that LinkedIn has become — a corporate social network, a job platform, a newsfeed, and now a games hub — might seem slightly strange, but the financial results are hard to argue with. Indeed, last year LinkedIn contributed more than $15 billion in revenue, over 6x what it managed in its first year under the MSFT umbrella. Its premium subscription offering accounted for $1.7 billion of that, while another $7 billion came from [hiring software]( that LinkedIn sells to recruiters. While adding mini games and AI features might sound like the sort of efforts that Snapchat or Netflix would roll out, the additions reflect LinkedIn’s ambitions to go beyond the boring “congratulations on your new role” type of posts that often dominate users’ feeds. [Read this on the web instead](   [Sponsored by Horizon Fintex]( The Upgrade Today's Stock Markets Need Why own a stock when you can own the market? It’s time for modern trading systems to replace the antiquated ones. [Upstream by Horizon Fintex]( is putting the power back in the hands of the everyday investor by removing the barriers international investors face when accessing U.S., Canadian, and other international stocks. Instead of limited trading hours and outdated technology, Upstream’s modern trading system allows international investors direct access to exchanges on their smartphone, with expanded trading hours to match their schedules. [Join in revolutionizing the securities industry with Horizon](. [Earn bonus shares with a minimum $5K investment.*]( [Earn bonus shares with a minimum $5K investment.*](   Last week, Macy’s walked away from deal talks with two investors, leaving the iconic American department store to tackle the challenging retail landscape alone. The deal, which [would have valued]( the Macy’s enterprise at some $9 billion, was squashed after Macy’s board had concerns that the financing for the proposed deal wasn’t solid enough, sending shares in the company down more than 14% since the deal was called off one week ago. The buyout saga, which began in December, saw the bid raised twice before ultimately being abandoned. But, the potential buyers weren’t [reportedly interested]( in “Macy’s: The Enterprise” so much as they wanted “Macy’s: The Real Estate Portfolio”. The company's property [portfolio]( is estimated to be worth anywhere from $5 billion to as much as $14 billion. Profit parade Despite bouncing back relatively strongly from COVID-19, Macy’s once-reliable profits have all but dried up: in the last 12 months the company has reported $13 million in net income — a figure that was routinely over $1 billion in prior years. By ending talks, Macy’s execs are signaling that they will forge ahead with its turnaround plan. That’s a bold move considering that peers such as JCPenney and Sears have succumbed to bankruptcy, e-commerce continues to grow, and inflation-weary consumers are showing signs of weakness. The strategy is focused on doubling down on its top 50 outlets, closing underperforming stores, and adding new Bloomingdale's and Bluemercury [locations](. Macy's is preparing to celebrate the centenary of its Thanksgiving Day Parade this year... its next 100 years might require some reinvention. [Read this on the web instead](   More Data - Plot twist: Twisters, a sequel to the 90s disaster classic, had an impressive $80.5M domestic debut over the [weekend]( — 60% more than expected. - Tadej Pogacar has secured his third [Tour de France]( title at just 25 years-old. - Disney workers have voted overwhelmingly (99%) to authorize the potential strike of up to 14,000 employees at [Disneyland Park]( in Southern California. - Swiss watch exports [fell more than 36% to China](. - Logan Paul and KSI’s Prime energy drink — which contains roughly 2x as much caffeine [per can]( as a Red Bull — is being sued by the US [Olympic]( and Paralympic Committee for trademark infringement. Modern stock markets are not meeting the needs of the everyday investor. Horizon Fintex’s trading platform, Upstream, can potentially address the needs of 130 million retail investors around the world by offering them greater freedom to trade securities. [The best part? You can become part owner of Horizon Fintex](.* Ad   Hi-Viz - Little stocks, big moment: What to know about buying [small caps](. - America’s favorite ice cream flavors, according to [Instacart](. - Can you spend 10 uninterrupted minutes focusing on a single [painting](? Off the charts: Millennials’ living arrangements have shifted dramatically in recent decades, but can you match the top 3 most popular household set-ups to each line? [Answer below]. - Living with parents - Living with unmarried partner - Living with spouse [Answer here.](   Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi, I like the newsletters, but I had a thought for you...) or want to [sponsor this newsletter](mailto:advertising@sherwoodmedia.com?subject=I’m interested in advertising with Sherwood Media)?   Not a subscriber? Sign up for free below. [Subscribe](   Authors of this article own shares in Microsoft. Advertiser’s disclosures: This is a paid advertisement for Upstream’s Regulation CF Offering. Please read the [offering circular and related risks](. Equity crowdfunding investments in private placements, and start-up investments in particular, are speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment through equity crowdfunding tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.   [X]( [Instagram]( [Chartr Logo]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( [Our Editorial Standards]( [Contact Us](mailto:daily@chartr.co?body=Hi%2C%0A%0AI%20like%20the%20newsletters%2C%20but%20I%20had%20a%20thought%20for%20you...&subject=Feedback) [Advertise With Us](mailto:advertising@sherwoodmedia.com?body=I%E2%80%99m%20interested%20in%20advertising%20with%20Sherwood%20Media) [Unsubscribe](newsletter=chartr) [Privacy Policy](