Weekly Review, September 11 2023
Meta trying to take down chat
It appears the labor market is shifting, and power is moving back into employers’ courts after the huge job boom of the last few years. Will we finally see the unemployment rate start to meaningfully tick up in future quarters? Stay tuned.
We have been very impressed by the LVMH powerhouse Bernard Arnault has built over the last few decades. With a generation of luxury brands soon looking to change hands to the next generation, we wouldn’t be surprised to see LVMH as a major consolidator whenever possible.
Amidst the AI craze Meta is apparently building a new AI tool to rival ChatGPT-4 and it will be better than Llama 2, Meta’s current open source AI large language model.
“Bankers say” and “must buy due to index inclusion” are scary terms in the financial world. Softbank will IPO with a massive $50b valuation which is already massively oversubscribed. We’ll see how it goes.