GREY Journal Daily News Podcast

The Green Bay Packers are the only publicly-owned NFL team, valued at $6.3 billion. Their ownership model originated over 100 years ago, involving six stock offerings between 1923 and 2021. Each individual can hold up to 200,000 shares, which have fluctuated in price from $5 to around $300. Presently, there are over 538,000 shareholders owning more than 5.2 million shares. These shares provide voting rights but do not yield dividends or possess market value; shareholders can only sell back to the team at a reduced price. The Packers report their revenues and expenses annually and generated $638 million in revenue and $128 million in earnings in 2023. These earnings support player salaries, operations, and the maintenance of Lambeau Field. The team ranks as the 12th most valuable franchise in the NFL, despite being in the smallest television market.Learn more on this news visit us at: https://greyjournal.net/

Investors are recovering from the holiday season, with three funding rounds exceeding $100 million this week, including Safe Superintelligence's $1 billion raise, which values the AI research lab at $5 billion. Safe Superintelligence, founded by Ilya Sutskever, focuses on developing safe AI systems amid rising regulatory concerns in California. Arsenal Biosciences secured $325 million in Series C funding for cell therapies targeting solid tumors, bringing its total funding to nearly $631 million. eGenesis raised $191 million in Series D funding to advance engineered organ development, while Circle Pharma closed a $90 million Series D round for innovative therapies, totaling nearly $208 million raised. Battery technology startup 24M Technologies collected $87 million in Series H funding, and OrsoBio raised $67 million in Series B financing for obesity treatments. Cortex Applications obtained $60 million for its software developer portal, and Oyster raised $59 million in Series D funding for its human resource platform. Laravel secured $57 million in Series A financing, and Sonoma BioTherapeutics received a $45 million milestone payment from Regeneron for autoimmune disease therapies. Sakana AI led global funding with $100 million, focusing on low-cost generative AI models.Learn more on this news visit us at: https://greyjournal.net/

The labor market shows slight improvement as hiring increases amid economic challenges. In August, employers added 142,000 jobs, up from 89,000 in July, with the unemployment rate decreasing to 4.2%. Consumer spending contributes positively to service sector companies, while job security remains high with low layoffs. However, slower hiring rates pose challenges for job seekers. Inflation trends suggest a potential quarter-point interest rate cut from the Federal Reserve, which aims to avoid weakening the job market further. Companies report fewer job openings and increased selectivity in hiring. Uncertainty regarding the presidential election and the Fed's strategies impacts hiring decisions. Overall, current economic growth stands at a steady 3% annual rate.Learn more on this news visit us at: https://greyjournal.net/

The current labor market displays high job security but presents challenges for job seekers. Job openings have significantly decreased since March 2022, while layoffs remain low. Companies exhibit caution by becoming more selective in hiring, resulting in prolonged job searches. Temporary positions have also declined, reflecting employer hesitance. Job-hopping has slowed, with only 3.3 million Americans quitting their jobs in July, down from a peak of 4.5 million in April 2022. Recent graduates face intensified competition from experienced candidates, leading to difficulties in securing interviews. Many individuals explore alternative career paths or community services for experience. Networking plays a vital role for some as they aim to re enter their desired fields.Learn more on this news visit us at: https://greyjournal.net/

Verizon will acquire Frontier Communications for $20 billion to enhance its fiber network capabilities and expand into artificial intelligence and connected smart devices. Frontier has heavily invested in its fiber network, totaling $4.1 billion over the past four years, and now generates over half of its revenue from fiber products. The acquisition targets Frontier's 2.2 million fiber subscribers across 25 states, allowing Verizon to significantly expand its base beyond its current 7.4 million Fios connections. Frontier has 7.2 million fiber locations and plans to develop an additional 2.8 million by 2026. Verizon will pay $38.50 per share for Frontier, with the deal expected to close in approximately 18 months, pending shareholder approval. Following the announcement, Frontier's shares fluctuated, initially rising nearly 40% before dropping 9%. Verizon's stock saw a slight increase.Learn more on this news visit us at: https://greyjournal.net/

New York implements regulations on Airbnb to address housing affordability. The city enforces stricter rules on short-term rentals. Officials aim to increase the availability of long-term rental options. The crackdown seeks to reduce the number of properties listed for short-term stays. Data shows that some neighborhoods experience a decline in short-term rentals. Experts analyze the impact of these regulations on housing costs. The outcome remains to be seen, as the city monitors changes in the rental market.Learn more on this news visit us at: https://greyjournal.net/news/

Nvidia's stock experienced a historic decline on September 3, 2024, resulting in a loss of $279 billion in market value, the largest one-day loss in U.S. history. The stock dropped over 9% during regular trading and an additional 2% in post-market hours, linked to a subpoena from the Department of Justice for an antitrust investigation. CEO Jensen Huang lost $10 billion in personal wealth due to this decline. Although Nvidia's shares saw a slight recovery of about 1% the following day, the company still holds approximately 80% of the AI chip market. Despite the setback, Nvidia reported a year-to-date increase of 118%.Learn more on this news visit us at: https://greyjournal.net/

Mayfield Fund initiated a $100 million initiative for AI startups concentrating on collaborative technology. This initiative, termed AI Garage, supports ideation-stage founders in creating "AI teammate" companies. The venture capital firm plans to accept up to five founders every six months, expanding its established entrepreneur-in-residence model. Initially, these participants will not receive funding but can secure between one and five million dollars after formulating a viable business plan with the firm's partners. The focus lies on AI applications that function as collaborators rather than mere assistants. Mayfield has already invested in several AI teammate companies, including DevRev, which enhances customer service through AI, and NeuBird, which aids site reliability engineers in managing outages. Learn more on this news visit us at: https://greyjournal.net/

The U.S. Open’s Honey Deuce cocktail, comprising Grey Goose vodka, raspberry liqueur, and lemonade, projects $10 million in sales for this year's tournament. In 2023, over 450,000 Honey Deuce cocktails sold at $23 each, highlighting its popularity. The drink features a reusable acrylic cup that displays past tournament winners' names. Notably, Serena Williams recently shared her first experience with the drink on TikTok. Other tennis tournaments offer signature drinks, but none match the Honey Deuce's sales. In 2024, the U.S. Open sets a total prize purse of $75 million, a 15% increase from the previous year, with singles champions receiving $3.6 million, reflecting a 20% rise from 2023.Learn more on this news visit us at: https://greyjournal.net/