IPOs: 2024 Revival

The IPO market could be in full swing in 2024, with significant developments likely coming in the coming year. Multiple companies are considering an IPO, which means confidence is slowly gaining in the markets. Kim Kardashian's Skims, a lingerie brand valued at $4 billion this summer, is considering various strategic moves, including an IPO. Reddit has been in talks with potential investors that could lead to a possible IPO launch as soon as the first quarter of 2024. Rubrik, a Microsoft-supported cloud and data security venture, is also contemplating an IPO at the outset of 2024. Shein has also reached out to regulatory bodies for an IPO and begun the filing process. They were initially based in China but have since relocated to Singapore. The retailer was last valued at $66 billion.

This list doesn’t include some of the most popular possible IPOS, which include Waystar, Fanatics, Databricks, Stripe, and Circle. The last two years have been two of the worst years ever for the IPO markets, so Wall Street is begging for a rebound in 2024.

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AMAZON: Eyes on Miami Office Space

Amazon is hunting for office space in Miami, coinciding with founder Jeff Bezos's planned relocation from the Seattle region. The company is on the lookout for approximately 50,000 square feet of office space in Florida, as confirmed by a spokesperson from Amazon. Miami is becoming an increasingly popular hub for the ultra-rich and their companies, leading to a surge in office space demand. The city has attracted numerous financial and technology companies, such as Microsoft, Citadel, and many other firms led by billionaires, who have relocated or expanded their existing operations there.

Office space availability in Miami has now dipped below what it was before the pandemic in 2019, which has been huge for the South Florida economy. Amazon already has around 500 employees located in the Miami area, but they do not have any official real estate in Miami. It is doubtful that Amazon would ever relocate its HQ from Seattle.

FOXCONN: Reducing Chinese Risk

Foxconn Technology, a key supplier for Apple, is ramping up its investments in India. In a filing with regulators, the company revealed that it plans to invest over $1.5 billion in a yet-to-be-specified construction project in India to meet its "operational needs." Foxconn aims to reduce its heavy reliance on its extensive operations in mainland China. This is a huge development for Apple as they have looked for ways to decouple from Beijing.

This strategic shift comes mainly in the wake of significant production slowdowns caused by COVID-19 lockdowns in China. This also comes as geo-political tensions between China and the United States have reached an all-time high. Foxconn is already involved in multiple initiatives in India.

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Jobs’ Animation Magic 🧙

You won’t believe what Steve Jobs created that we all watch today… and no, it wasn’t the iPhone! 

In the mid-1980s, after leaving Apple, Steve Jobs was on the lookout for a new venture and found it in a small graphics division within Lucasfilm known as Pixar. With an initial investment of $10 million, Jobs set the stage for a revolution in the animation industry. Despite facing significant financial and technological challenges, Jobs’ belief in Pixar’s team, particularly in the creative genius of John Lasseter, was unwavering. This faith was rewarded when, in 1995, ‘Toy Story’ was released as the world’s first fully computer-animated feature film, redefining storytelling and technology in animation. Pixar, under Jobs’ guidance, had achieved what many thought impossible.

Following the success of ‘Toy Story,’ Pixar went on to produce a series of hit films, including ‘Finding Nemo’, ‘Monsters, Inc.’, and ‘The Incredibles, each setting new benchmarks in animation. These successes were not only significant for Pixar but also played a crucial role in repairing the relationship between Jobs and Apple, eventually leading to his return as CEO. 

Steve Jobs’ legacy at Pixar extends beyond technological advancements; he brought to life characters and stories that have become integral parts of our lives. His time at Pixar is a testament to his vision and ability to merge technology with storytelling, leaving a massive mark on the animation landscape.

Chart of the Day

📊 The price of admission tickets keeps going up. Are sporting events generally an inelastic market, or are a large portion of people on trend to being priced out?

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