Good Morning! A South Korean battery material tycoon has seen his wealth balloon by $4.5 billion this year thanks to a 919% surge in his company's (Ecopro) stock price. But there's a kicker - he's been enjoying the rally from prison, serving an insider trading sentence. Meanwhile, Bill Gates's Foundation Trust rolled the dice on a $100 million bet – Bud Light’s stock comeback.

The U.S. economy’s looking so rock-solid that the Federal Reserve is gearing up to double their 2023 growth projections later this month. But one Fed official thinks they can ‘proceed cautiously’ on future rate hikes. With states trying to ban TikTok, China retaliated by banning government employees from using iPhones - tough for Apple since the country is responsible for nearly 20% of its revenue. And Instacart's getting ready to IPO, and could set a price range as early as Monday.

_{SQUEEZ OF THE DAY}

Back in the Bullpen

Wall Street’s still trying to coax its workforce back to the office. And post-Labor Day, they’re finally starting to drop the hammer.

NYC’s return-to-office push is wavering in general - but banks are acting with more urgency to get bankers back at their desks. Citi’s bringing up in-office work expectations during performance reviews, Goldman’s cracking down on employees that aren’t in five days a week, and banks like HSBC will start enforcing stricter in-office requirements next month.

“I completely understand why someone doesn’t want to commute an hour and a half every day, totally got it,” Jamie Dimon said this month. But he took a shot at remote employees and quipped “doesn’t mean they have to have a job here, either.”

Two-thirds of hybrid and remote financial services workers say they'd quit if they had to come back to the office five days a week.

Takeaway: It feels like this RTO push is different. Wall Street had to tread lightly during Fall 2021 - bankers were drowning in work and firms couldn’t afford excessive turnover. But with the power back in MDs and corporate execs’ hands, bankers might have no choice but to come back 3-5x per week.

_{CAPITAL PULSE}

Markets Rundown

Stocks closed lower over inflation and rate hike concerns.

Movers & Shakers

• (+) NextGen Healthcare ($NXGN) +15% after Thoma Bravo announced they’ll take $NXGN private for $1.6 billion.

• (+) Dexcom ($DXCM) +7% after the glucose monitor maker cited rising use even amid rise in weight loss drugs.

• (–) Apple ($AAPL) -4% because China banned iPhone use for government employees.

Private Dealmaking

• Enbridge, a Canadian pipeline operator, bought three utilities from Dominion Energy for $14 billion

• Ascend Elements, an EV battery recycler, raised $542 million

• Josys, an IT software application management startup, raised $93 million

• Envisics, a developer of holographic tech for cars, raised $50 million

• CH4 Global, a climate change solutions startup, raised $29 million

• Harmonya, a data analytics provider for consumer brands, raised $20 million

Get access to private deal flow here.

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_HEADLINES

Top Reads

• The SEC targets private capital (WSJ)

• Nvidia exec says AI market will be worth more than $600B (YF)

• There are just 6 crypto billionaires in the world (CNBC)

• SBF’s life in jail (NYT)

• Where to put your cash now for every income level (WSJ)

• Disney battle with Charter could pose existential threat to cable bundle (CNN)

• Why Finfluencers will always find addicts (BB)

• 10 brands with the highest customer loyalty (CNBC)

• Apple inked new long-term deal with Arm for chip technology (Reuters)

• Wells Fargo is still in fix-it mode (WSJ)

_{BOOK OF THE DAY}

Deeper Mindfulness

Based on Mark Williams's research into the therapeutic powers of mindfulness, and an extension of Mindfulness-based Cognitive Therapy (MBCT), Deeper Mindfulness continues the story told by Mark Williams and Danny Penman's runaway success, Mindfulness: A Practical Guide to Finding Peace in a Frantic World.

Where the author's previous book crafted the foundations necessary to live a happier and more fulfilling life, and has proven transformative for many people, many readers have asked whether there was anything more they could do to enhance their practice and resolve their remaining issues.

Deeper Mindfulness answers that question with a resounding, yes. It is possible to deepen the effect of mindfulness practice by focusing on what the authors describe as vedana, or "feeling tone," which targets certain core processes in the meditating mind.

Over eight weeks, readers will learn to apply this practice to such unpleasant emotions and mood disorders as anxiety, depression, stress, and general unhappiness; when these unpleasant emotions evaporate, readers will be left with a calm space inside from which they can rebuild their lives.

“A practical guide to finding peace in a frantic world.”

_{ENLIGHTENMENT}

Short Squeez Picks

• 8 types of humility to cultivate

• How NYC gets its produce

• Goldman Sachs exec’s No. 1 timesaving work hack

• Pros and cons of evening workouts

• How to get super real in daily life

_{DAILY VISUAL}

Messi Drives Big Boost for Apple's MLS Streaming Service

US sign-ups to Apple’s MLS Season Pass

_{SPONSORED BY ARRIVED}

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_{DAILY ACUMEN}

Simple 2-Word Phrase

"Make memories" is a simple yet impactful two-word mantra that can serve as a catalyst for action in both your personal and professional life.

Often, the challenges and busy schedules we face can make us opt for the path of least resistance, missing out on valuable experiences.

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Additionally, our unique human ability for "mental time travel" allows us to relive these memories, adding richer, deeper meaning to past experiences.

Therefore, making memories is not just about living in the moment, but it's also an investment in your future happiness and emotional growth.

So, whatever you do, don't stay still; take action and make memories.

_{JOB BOARD}

Featured Jobs

• Tyton Partners - VP, Investment Banking - New York, NY

• MongoDB - VP - New York, NY

_{MEME-A-PALOOZA}

Memes of the Day