Good Morning! Microsoft beat earnings but shares still fell on cloud miss. Good news for employees though as MSFT is handing out cash bonuses of up to 25%. Delta hired an attorney to seek damages for business interruption from the CrowdStrike saga. Wells Fargo is in some hot water over sham DEI interviews. Canva acquired Leonardo.ai to boost its generative AI efforts, and more colleges are offering AI degrees. Plus China and India are decoupling and a woman found an easy hack to match with Olympic athletes on dating apps.

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_{SQUEEZ OF THE DAY}

Spirit Dropping as an Upscale Airline

Spirit Airlines has long been the ultimate low-cost airline in the United States, known for its no-frills, rock-bottom fares. While it might not be the most comfortable option—expect charges for everything from extra checked bags to a bottle of water—Spirit has found a niche in the budget travel market.

Spirit is sick of becoming the subject of your memes. And after a challenging year that included a blocked merger with JetBlue, engine recalls, and a saturated domestic market, the airline is rebranding itself with a more upscale image.

Starting late next month, Spirit will introduce four new classes of service: "Go Big," "Go Comfy," "Go Savvy," and "Go." 

The "Go Big" tickets will feature the airline's Big Front Seats, complete with free Wi-Fi, checked baggage, cabin luggage, and "unlimited" snacks and drinks, including alcoholic beverages.

The "Go Comfy" option offers standard legroom with a blocked middle seat for extra space, along with early boarding, one snack, one nonalcoholic beverage, and baggage allowances. The "Go Savvy" fare includes a checked bag or carry-on, while the "Go" option remains Spirit's original, ultra-budget offering.

This shift is a bold move for Spirit, which hasn't turned a profit since 2019, the year before the COVID-19 pandemic. The airline's CEO, Ted Christie, noted that Spirit had been ceding more premium market segments to competitors like United and Delta. By offering more upmarket options, Spirit aims to attract travelers willing to pay for a better experience while maintaining its budget-friendly roots.

Takeaway: Chances are when you book a flight, Spirit probably isn’t your first choice (unless you’re booking your college spring break trip). Spirit is marketing its premium seats with buzzwords but may find that while running a marketing campaign is easy - totally revamping an image of one of the biggest jokes in the airline industry is even harder.

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_HEADLINES

Top Reads

• Microsoft shares drop as cloud miss overshadows better-than-expected earnings (CNBC)

• Microsoft tells employees it will give cash awards of up to 25% of annual bonus (CNBC)

• Wells Fargo faces lawsuit for alleged sham DEI hiring effort (BD)

• Delta hires high-powered attorney to seek damages from CrowdStrike (Fox)

• Another disappointing quarter for Starbucks (CNBC)

• Woman found easy hack to match with Olympic athletes on dating apps (NYP) 

• Canva acquires Leonardo.ai to boost its generative AI efforts (TC)

• Google's Gemini ad sparks backlash (MW)

• JetBlue shares jump 12% after surprise profit, $3B aircraft spending deferral (CNBC)

• More colleges are offering AI degrees — could they give job seekers an edge? (NBC)

• Indoor soccer facility scores first Manhattan location in Fidi (NYP)

• Snoop Dogg tests out his 'lung power' in pool with Michael Phelps (NBC)

• A mini Whole Foods is opening in Hell's Kitchen (Timeout)

• Manhattan’s housing problem (Newsweek)

_{CAPITAL PULSE}

Markets Rundown

Stocks closed lower as investors dump tech before big earnings reports.

Movers & Shakers

• (+) JetBlue ($JBLU) +12% after surprise profit, $3 billion aircraft spending deferral.

• (–) Tesla ($TSLA) -4% after recalling 1.85 million US vehicles over unlatched hood issue.

• (–) Crowdstrike ($CRWD) -10% because Delta is mulling a business interruption lawsuit.

Private Dealmaking

• Altana, a supply chain monitoring company, raised $200 million

• Osapiens, a compliance and sustainability reporting company, raised $120 million

• Confo Therapeutics, a clinical-stage company, raised $66 million

• Gradient AI, an insurance software startup, raised $56.1 million

• Type On Energy, a fusion energy company, raised $53.5 million

• InnerPlant, a crop monitoring tech company, raised $30 million

For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.

_{BOOK OF THE DAY}

The Illusion Of Control

Based on scientific evidence (and lots of real-life experience), The Illusion of Control makes a well-justified case that people grossly overestimate how much power they have over others and simultaneously miss out on opportunities to enjoy and exploit the power they have over themselves.

Readers learn how to reduce stress and improve quality of life by giving up ineffective habits and attempts at controlling the uncontrollable. The book intentionally begins by challenging readers to analyze where and when they are objectively not in control and how much failed control costs.

In a second block of chapters, broad strategies are suggested in order to bring about change, and multiple psychological theories are offered as tools for gaining control.

Next, these tools are applied to changes within the individual to target sleep, drug use, weight control, and negative mood states. Finally, applications will demonstrate how to gain partial control (but still less than they wish) with respect to strangers, children, spouses, friends, workplaces, and broad political questions.

“Describes how people grossly overestimate the power they have over others while simultaneously missing opportunities to enjoy and use the power they have over themselves.”

_{DAILY VISUAL}

China and India Decoupling

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_{DAILY ACUMEN}

Presence

In our fast-paced world, being fully present is a rare and valuable skill.

It's not just about being physically there, but being mentally and emotionally engaged.

How often are you truly present in your daily interactions?

Studies show that mindfulness improves focus, reduces stress, and enhances relationships.

Practice being present.

Put away distractions.

Engage fully in conversations.

Savor your experiences.

Remember, the present moment is the only moment we truly have.

_{ENLIGHTENMENT}

Short Squeez Picks

• If you do these 8 things, you’re mentally stronger than most

• When a team member speaks up and it doesn’t go well

• Tiny habits of people who achieve all their dreams

• Why successful people are still unhappy

• When your accountability exceeds your control

_{MEME-A-PALOOZA}

Memes of the Day