Anna's Daybreak News

Good morning news friends! Join us as we navigate this web of knowledge and decode the world's latest events 📰🌟

• Online delivery companies' founders, who became billionaires during the pandemic, are now witnessing a steep decline in their fortunes.


• Four out of the six identified billionaires have reportedly lost their status, according to the Bloomberg Billionaires Index.


• The group, including the founders of Getir, Just Eat Takeaway.com NV, Instacart, and DoorDash Inc., has collectively lost more than $15 billion.


• The lost wealth is as a result of a decline in company valuations, driven by a drop in demand for services after pandemic lockdowns.


• So to all you budding billionaires out there - don't count your chickens before they’ve hatched! Or in this case, don't count your billions before your delivery service has weathered a post-pandemic world - ominously awaiting to swipe those zeros away like a bad coupon code.
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• US job openings rose by a whopping 690,000 to 9.61 million in August, marking the largest increase in two years due to a surge in demand in the professional and business services sector.


• Despite three consecutive months of decline in job openings, August showed a reversal trend, thereby reinforcing chances of a hike in interest rates by the Federal Reserve.


• Although unemployment slightly rose in August, the labor market continues to balance supply and demand steadily with an unchanged quit rate at a 1-1/2-year low.


• The bulk of the rise in job openings were covered by businesses with less than 10 employees, while large corporations reported only marginal increases.
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• FTX co-founder Sam Bankman-Fried rocks an all-new, more formal look as he appears in court, sparking comments on his noticeably trimmed hair and leaner physique.


• Bankman-Fried's now-trimmed disheveled curls, which were once a trademark for the internet meme community, are now neatly kept.


• His appearance was for the commencement of his multibillion-dollar fraud trial in a Manhattan federal court.


• Bankman-Fried was noted wearing a navy suit, appearing to be larger than his now leaner frame, as he sat middle of the courtroom, between his lawyers.


• In other news, jury members reportedly to be given combs, in case Bankman-Fried's trimmed locks begin to revert to their meme-worthy, wild nature during the trial.
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• Meta, previously known as Facebook, is preparing to lay off employees within its Reality Labs division that primarily focuses on creating custom silicon, as revealed by two insider sources.


• Employees were given a heads up about these layoffs via a post on Meta's internal discussion platform, with official notifications expected to reach them by early Wednesday.


• The silicon unit, officially known as Facebook Agile Silicon Team (FAST), contains roughly 600 staff members. The specific number of layoffs is yet to be discerned.


• The FAST unit's main function is to construct custom chips for powering augmented and virtual reality hardware, a key element in Meta's vision of building the metaverse.


• I suppose Meta is slowly saying buhbye to the Metaverse, not like it was ever going to become a reality anyway.
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Baked with love,

Anna Eisenberg ❤️