Why Bezos is moving to Miami...
November 04, 2023 [View Online]( | [Sign Up]( | [Shop]( [Morning Brew]( PRESENTED BY [Pendulum]( Good morning. Hereâs a fun game to play with a group of friends this weekend: Someone in the group thinks of a number between 1 and 100 but keeps it to themselves. The rest of the people in the group have to guess the number that person is thinking of by naming categories, and the person has to respond with an item in that category that corresponds to their number on a rating scale of 1â100. For example, if the person was thinking of 40 and you asked them to name a dessert, they might respond with something like âcarrot cake.â If you asked them to name a Pixar movie, they might respond with Finding Dory. And you go on through multiple categories until you feel like youâve got a good sense for the number. Very wholesome, very entertaining. âSam Klebanov, Molly Liebergall, Matty Merritt, Adam Epstein, Neal Freyman MARKETS Nasdaq 13,478.28 +1.38% S&P 4,358.34 +0.94% Dow 34,061.32 +0.66% 10-Year 4.523% -14.0 bps Bitcoin $34,622.07 -0.92% Paramount $13.76 +15.44% *Stock data as of market close, cryptocurrency data as of 11:00pm ET. [Here's what these numbers mean.]( - Markets: LFG! Stocks closed out their best week all year after the âGoldilocksâ October jobs report could put the Fedâs interest rate hikes on ice. Paramount posted [double-digit gains]( for the second straight session becauseâ¦apparently Paramount+ is doing well? You learn something new every day.  ECONOMY [The economy is starting to slow downâand thatâs good](
[Your speed sign with jobs]( Francis Scialabba Oven mitts might no longer be necessary to handle the hiring market as the US added just 150,000 jobs last month. The employment gains [reported]( by the Labor Department yesterday fell short of expectations and were almost half of the 297,000 jobs created in September. Still, thereâs no need to hit the economic panic button. Though the unemployment rate ticked up slightly, to 3.9% in October, itâs been below 4% since late 2021, the longest sub-4% stretch in over 50 years. But the hiring slowdown may be a sign that the US economy is gently releasing the gas pedal after months spent running laps around Daytona. Who was hiring? Not the automakers. The six-week United Auto Workers strike against the Big Three Detroit carmakers was the primary culprit in the automotive manufacturing sector shedding 33,000 people from payroll. On the flip side, healthcare, government, and construction were the top job creators, adding 58k, 51k, and 23k positions, respectively. The jobs number was in the sweet spot for investors: Stocks posted their biggest weekly gain this year. And thatâs because investors view the reduced appetite for new hires as a sign the Fed is succeeding at cooling the economy (but not too much) in its fight against inflation. This jobs report makes it even more likely that the Fed will put the parking brake on its interest rate hikes, and some traders are betting that the central bank might even lower rates next year. Zoom out: Scorching hot consumer spending in the summer [fueled a 4.9% pop]( in Q3 GDP, and investors worried wages and prices would shoot upward again. But, yesterdayâs jobs report showed average hourly pay grew at a lower-than-expected 0.2% in October, calming fears that inflation would reverse its downward trend. Economic growth is projected to slow down significantly this fall, according to the US Treasury, just in time for sweater weather.âSK Â Â PRESENTED BY PENDULUM [A probiotic by the pros](
[Pendulum]( Hereâs a hard truth to swallow: If your gut health is lagging, youâre probably starting your days feeling sluggish and slow. So whatâs the trick to building a healthier metabolism? A multi-strain probiotic that helps your body do way more with the food you eat. Thatâs why Pendulum created [Metabolic Daily](. Formulated by top-ranking scientists, Metabolic Daily is packed with next-gen strains, including Akkermansia muciniphila. Based on in vitro studies, it works to improve metabolism and convert food into energy more efficiently. Whatâs more, the Halle Berry swears by this powerful probiotic. And now you can [save 20% in your first month]( of Pendulum membership with code MORNINGBREW. [Kick-start your metabolism](. WORLD [Tour de headlines](#)
[Supporters of the Lebanese Shiite movement Hezbollah watch a televised speech by its leader Hassan Nasrallah in the Lebanese capital Beirut's southern suburbs]Ahmad Al-Rubaye/AFP via Getty Images Hezbollah wonât enter the war...for now. In his first speech since Hamasâs Oct. 7 attack on Israel, Hezbollah leader Hassan Nasrallah called the assault âgloriousâ but [did not signal]( heâd join the conflict in a significant way imminently. The world is watching Hezbollahâs next moves carefully since the Iran-backed Lebanese militant groupâs involvement could spark a wider regional war in the Middle East. Also yesterday, during his visit to Israel, US Secretary of State Antony Blinken called for a [humanitarian pause]( in the IsraelâHamas war; Israeli Prime Minister Benjamin Netanyahu rejected the possibility of a cease-fire that does not include the release of the hostages being held in Gaza. A shipping giant warns on the economy. The Danish shipping company Maersk is [cutting]( more than 10,000 jobs and posted a 92% drop in profits as the pandemic-era shipping boom runs aground. Because Maersk moves goods all over the world, its woes are a concerning sign for global trade going into next year. The cost of shipping a 40-foot container from China to the US West Coast has dropped from more than $16,000 in March 2022 to less than $2,000 in September, per the WSJ. Mint is shutting down. The free appâs 3.6 million monthly users will soon have to [look elsewhere]( for their personal finance needs. Owner Intuit encouraged users to move over to another one of its products, Credit Karma, which offers some of the same features and will fully absorb Mint on Jan. 1. Since acquiring Mint for $170 million in 2009, Intuit was never able to turn it into a moneymaker, even as the app helped millions of loyal users figure out what to do with their cash. Those users were caught off guard by the news, [taking to Reddit]( to express their disappointment. AI [Teen boys are terrorizing classmates with fake nudes](
[Hand holds phone]( Illustration: Francis Scialabba, Photo: Getty Images Deepfake porn is running rampant, and a New Jersey high school is one of the latest epicenters. Police are [investigating]( after boys at Westfield High School circulated AI-generated images that showed the faces of their female classmates on naked bodies. Itâs unclear if the perpetrators will be punished due to questions around the legality of their transgression: Neither federal law nor most state laws have anything on the books about deepfake porn. Plus, it may not be divulged if they are punished due to student confidentiality. In the meantime, a New Jersey state senator asked county prosecutors to take notice. Widespread and rising: More than 90% of online deepfakes are pornographic, according to the image-detection firm Sensity AI. As of September, creeps had already uploaded [54% more]( deepfake porn videos this year than in all of 2022, Wired reported. In other recent instances, a stranger virtually undressed a womanâs Instagram [mirror selfie]( a Wisconsin man [threatened]( minors with nude deepfakes, and more than 30 girls in Spain were [targeted]( by classmates with fake nudes. How is this happening? Though big-name image generators like OpenAIâs Dall-E and Adobeâs Firefly have guardrails that stop users from making porn, countless online face-swapping and undressing tools that use publicly available software are still out there, making it [hard to shut them down]( Â Â TOGETHER WITH HOKA
[HOKA]( Runners, take your marks. We checked in with [HOKA athletes]( Kellyn and Futsun to get their tips for crossing the finish line. From the importance of pacing yourself to the best breakfast to eat before a race (spoiler alert: itâs white rice), these HOKA athletes are here to help you [earn your hardware](. REAL ESTATE [Bezos joins your grandparents in Florida](
[Jeff Bezos with sunglasses and Miami skyline in background.]( Illustration: Francis Scialabba, Photo: Simon Stacpoole/Getty Images Meet the newest Florida Man: Jeff Bezos. In an Instagram post late Thursday, the Amazon founder [said]( he was leaving his longtime home of Seattle for Miami to be closer to his parents and his space company, Blue Origin, which is increasing its operations at Cape Canaveral. The third-richest man in the world isnât just going to surf Zillow for any old two-bedroom. Last month, Bezos bought a $79 million mansion on the celebrity-studded Indian Creek island near Miamiâhis second property on the island nicknamed the âbillionaire bunker.â About Bezosâs new neighborhood: The median listing price for a home there in September was $49.5 million, which only the likes of Jared Kushner, Tom Brady, and Wall Street legend Carl Icahn can afford. With individuals worth a small nationâs GDP residing on the island, Indian Creek is heavily secured and has its own police force that patrols the area by land and water. But owning a home on the island (which all have ocean views, btw) doesnât even guarantee you access to the communityâs golf club. Big picture: Unlike what heâs done in business, Bezos is hardly innovating with his move to the Sunshine State. Between 2021 and 2022, 740,000 people moved to Florida, the most of any state in the country. And with all the growth, Floridaâs property market became the [second-most valuable]( in the US last year, bumping New York to third place, according to a September Zillow report.âMM Â Â GRAB BAG [Key performance indicators](#)
[Fortnite original map]Fortnite/Epic Games Stat: The most popular vacation destination this weekend isnât Tulumâitâs Salty Springs. Fortnite re-released its OG battle royale map from 2018 yesterday, a [genuinely]( [emotional]( event for gamers who used to explore the virtual world with their buds. The result? More than [5 million people]( were playing Fortnite at one point Friday afternoon, according to Fortnite.gg, the most ever at one time and proof that nostalgia remains undefeated. Ninja, the Twitch streamer whose fame was partly fueled by Fortnite, reached 118,000 concurrent viewersâdwarfing the size of his normal audience. The limited-time commemorative event is scheduled to [end in a few weeks]( but until then, Tilted Towers calls gamers home. Quote: âThere will come a point when no job is neededâyou can have a job if you want for personal satisfaction, but the AI will be able to do everything.â Elon Musk sat down with British Prime Minister Rishi Sunak at an AI summit in London this week, and the X chairman had a lot to say [about robots](. In addition to predicting that artificial intelligence will render most of our jobs obsolete, Musk also compared it to a âmagic genieâ that can grant all wishes, which he acknowledged usually doesnât end well. So naturally, Musk then announced that his new AI startup, xAI, will [preview]( its tech to a select group today. Read: How often do you lie? ([The Conversation]( NEWS [What else is brewing](#) - [The Supreme Court]( will hear a case on the legality of a federal ban on bump stocks, which attach to semiautomatic weapons and allow them to fire like machine guns.
- [Google]( and Australiaâs Lendlease are scrapping a planned $15+ billion real-estate development project in the Bay Area.
- [About 35,000]( unionized hotel workers in Las Vegas could walk off the job at 18 casinos next week.
- [The Kansas City Chiefs]( will face the Miami Dolphins tomorrow in the second NFL game played in Germany. If Taylor Swift doesnât come on the trip, expect a [subpar game]( from Travis Kelce. RECS
[Saturday To-Do List graphic] Discover: An [extremely detailed map]( of New York Cityâs neighborhoods. Watch: Why some of the rainbow [is missing](. Planespot: Here are the [10 best locations]( at airports around the world. Listen: The [secret to a long life](. Holiday hurrah: Wondering which channel is best to sleigh the festive season? We teamed up with [Intuit Mailchimp]( to show you why email and SMS can level up your strategies. [Take a look]( *A message from our sponsor. GAMES [The puzzle section](#) Brew crossword: Tolkien fans should complete todayâs crossword before second breakfast. [Play it here](. Open House Welcome to Open House, the only newsletter section that knows its beef history. Weâll give you a few facts about a listing and you try to guess the price. [California mansion originally built in 1902.]Dickinson-Clark Team/Compass Todayâs listing is the historical [Crown Manor]( mansion in Coronado, California, a peninsula in San Diego Bay. It was built in 1902 for roughly [$25,000]( as a winter home for Wyoming and Nebraska cattle baron Bartlett Richards. Amenities include: - 12 beds, 9 baths, 7 half-baths
- Beauty salon
- Saltwater pool thatâs within walking distance of the ocean How much to own a piece of a bygone bovine era? SHARE THE BREW [Share Morning Brew]( with your friends, acquire free Brew swag, and then acquire more friends as a result of your fresh Brew swag. Weâre saying weâll give you free stuff and more friends if you share a link. One link. Your referral count: 0 [Click to Share]( Or copy & paste your referral link to others:
[morningbrew.com/daily/r/?kid=4904f90a]( ANSWER $40 million Word of the Day Todayâs Word of the Day is: bovine, meaning ârelating to or affecting cattle.â Thanks to Allie from Long Beach, California, for the suggestion. Submit another [Word of the Day here](. ⤠A Note From Intuit Mailchimp This is sponsored content. SMS is available as an add-on to US paid plans only. Visit [Mailchimp.com]( for details. Written by [Adam Epstein]( [Molly Liebergall]( [Neal Freyman]( [Matty Merritt]( and Sam Klebanov Was this email forwarded to you? Sign up [here](. Get smarter in just 5 minutes - Money & Career: [Money With Katie](  [Raise](  [Bossy]( Business education without the BS - Programs in [Business Essentials]( [Analytics]( and [Leadership]( Interested in podcasts? - Check out ours [here]( [ADVERTISE]( // [CAREERS]( // [SHOP]( // [FAQ]( Update your email preferences or unsubscribe [here](.
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