- Short Squeez
- Posts
- 🍋 Hamptons Tomato The New Status Symbol
🍋 Hamptons Tomato The New Status Symbol
How the food prices in the Hamptons got absolutely out of hand thanks to influencers, plus why stocks sold off yesterday despite good inflation news.
Together With
"It doesn’t matter if you win or lose till you lose."​ — John McEnroe
Good Morning and Happy Friday! Inflation fell in June for the first time since 2020. Investors are starting to ditch the Magnificent 7 for small-cap, rate-sensitive stocks. Tesla had a rough day after delaying its highly-anticipated robotaxi event. Delta says the Olympics will cost the airline $100M because travelers are avoiding Paris. Ackman will put $500 million into Pershing Square USA and the NFL is open to private equity team ownership of up to 10%. Plus how New York became a millionaire-only city.
Are you ready to radically transform your health? ARMRA Colostrum™ strengthens your immunity, fortifies your gut, enhances your skin and hair, elevates your mood, energy and much more. Try it here.
SQUEEZ OF THE DAY
$10 Hamptons Tomato The New Status Symbol
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/b68f92ef-9e11-4b48-b967-cbffb527f637/image.png?t=1720773541)
If you’re heading out to the Hamptons this weekend - get ready to pay over $100 for a lobster roll in the latest trend of influencers trying to keep up with the rich.
Summer means it's the time of year New Yorkers flex by going out East - and it turns out the status symbol of the summer is a $10 tomato at a farm stand in the Hamptons.
Some social media influencers have been complaining about absolutely ridiculous prices - such as $29 guac or $35 chicken tenders.
One East Hampton store sells lobster salad for $120/lb. In the Hamptons, food prices alone are reported to have climbed around 50% since 2020.
Some blame it on the rise of New York's minimum wage. Others blame it on opportunistic businesses taking advantage of the large herds of New Yorkers looking for food in what's a relatively limited supply of restaurants and grocery stores out East, at least compared to Manhattan.
Takeaway: Some New Yorkers don’t mind paying $15 for a coffee - they say they’re paying for the experience of summering in the Hamptons. But some of the most disgruntled people out East? The year-round residents who are sick of everyone else coming to visit and jacking up the prices. At the end of the day, the real luxury of the Hamptons isn't the food, but the priceless expression on your face when you see the bill.
PRESENTED BY ARMRA
One Food to Fix it All
If you're burning the midnight oil and need your health routine to work as hard as you do, ARMRA Colostrum™ is your answer.
This bioactive food is nature’s unrivaled powerhouse of bioactive nutrition that strengthens your body’s immune barriers and fuels cellular performance to revive your whole health. Packed with over 400 bioactive nutrients, ARMRA delivers thousands of health benefits you can actually see and feel:
Elevated Mood, Focus, and Energy: Clear your mind and sharpen concentration, and fuel sustained, clean energy.
Better Gut Health: Combat bloating and support digestion.
Enhanced Fitness: Ignite your energy, build lean muscle, and accelerate recovery time.
Radiant Skin and Hair: Activate stem cell collagen production, and hair follicle growth, for thick hair and a clear, glowing complexion.
Leveraging sustainable sourcing from grass-fed cows, and patent-pending Cold Chain BioPotent™ Pasteurization Technology, ARMRA Colostrum™ is premium bovine colostrum concentrate optimized for human health, and 3rd party tested for its superior efficacy.
Short Squeez readers get 15% off your first order with code SHORTSQUEEZ. Click below to revive your health.
HEADLINES
Top Reads
Inflation falls in June for first time since 2020 (YF)
Delta says the Olympics will cost it $100 million as travelers skip Paris (CNBC)
Tesla reportedly delays highly anticipated robotaxi event, stock tanks (Axios)
Ackman says his firm will put $500 million into Pershing Square USA (Reuters)
The NFL is open to private equity team ownership of up to 10% (CNBC)
A big bank rally is about to be put to the test (YF)
Virginia is America’s Top State for Business in 2024 (CNBC)
U.S. startup funding is up, but number of deals is down (Axios)
Here’s the inflation breakdown for June 2024 — in one chart (CNBC)
Stocks fall from records as Tesla, Nvidia lead tech sell-off (YF)
CAPITAL PULSE
Markets Rundown
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/d6193af6-a5fa-483a-aa3a-20f12db7d0cb/master_index.pptx__89_.png?t=1720745202)
Stocks experienced a sell-off as investors rotated into small-cap stocks.
Movers & Shakers
(+) QuantumScape ($QS) +31% after striking a deal to supply EV batteries to Volkswagen.
(–) Nvidia ($NVDA) -6% after the Magnificent 7’s worst day in a long time.
(–) Tesla ($TSLA) -8% after delaying the robotaxi event.
Private Dealmaking
Bain Capital to buy software financial vendor Evestnet for $4.5 billion
Blackstone bought a 30.2% stake in Tallgrass Energy for $1.1 billion
Platinum Equity bought HĂ©roux-Devtek, an aerospace products maker, raised $1 billion
Helsing, a defense-tech startup, raised $489 million
Skild AI, an AI robotics company, raised $300 million
Element Biosciences, a DNA sequencing company, raised $277 million
For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.
BOOK OF THE DAY
Traffic
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/3ccac256-4eca-4dc1-aa5c-90f39519308f/Screenshot_2024-07-11_at_8.49.02_PM.png?t=1720766606)
If attention is the new oil, Traffic is the story of the time between the first gusher and the perceptible impact of climate change. The curtain opens in Soho in the early 2000s, after the first dot-com crash but before Google, Apple, and Facebook exploded, when it seemed that New York City, rather than Silicon Valley, might become tech’s center of gravity.
There, Nick Denton’s merry band of nihilists at his growing Gawker empire and Jonah Peretti’s sunnier team at HuffPost and BuzzFeed were building the foundations of viral internet media.
Ben Smith, who would go on to earn a controversial reputation as BuzzFeed News’s editor in chief, was there to see it, and he chronicles it all with marvelous lucidity underscored by dark wit.
Traffic explores one of the great ironies of our time: The internet, which was going to help the left remake the world in its image, has become the motive force of right populism.
People like Steve Bannon and Andrew Breitbart initially seemed like minor characters in the narrative in which Nick and Jonah were the stars. But today, anyone might wonder if the opÂposite wasn’t the case. To understand how we got here, Traffic is essential and enthralling reading.
“Engrossing and suspenseful."
DAILY VISUAL
Record Low Percentage of Stocks Outperforming S&P 500
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/fd4a81c1-f37a-46bb-8f9f-f31f88fbf93d/image.png?t=1720696620)
Source: Apollo
DAILY ACUMEN
Resilience
Life doesn't get easier, you get stronger.
Think of Japanese Kintsugi, the art of repairing broken pottery with gold. The cracks aren't hidden; they're highlighted, making the piece more beautiful and valuable.
Your setbacks and scars are your gold. They're proof of your resilience, not your weakness.
Resilience isn't just about bouncing back; it's about bouncing forward, stronger and wiser than before.
Nelson Mandela emerged from 27 years of imprisonment not bitter, but determined to lead his nation toward reconciliation.
J.K. Rowling went from a divorced single mother on welfare to one of the world's most successful authors.
Your struggles are not the end of your story - they're the beginning of your comeback.
ENLIGHTENMENT
Short Squeez Picks
How New York became a millionaire-only city
The secret to a meaningful life
8 productivity books time management experts actually use
The most strategic leaders excel in 4 disciplines
The power lunch in NYC is back
MEME-A-PALOOZA
Memes of the Day
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/73c25f99-ae65-449f-8f48-4c5422b17f84/image.png?t=1720773771)
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1e835fe5-7e85-45f8-840d-d8248132dcdf/image.png?t=1720773804)
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/b90c39b6-bdae-44b7-8e82-c3a67ee54883/image.png?t=1720773871)
What'd you think of today's edition? |
Reply