Good Morning! Gen-Z new hires keep quitting after their first week on the job, and while a resilient U.S. economy is lifting stocks, the bar is still high this earnings season. The ‘Godfather of AI’ is now a Nobel winner, and Amazon’s ex-logistics chief raised $100M for his new startup. And it turns out money does buy happiness, with a new study finding that a 10% raise boosts happiness across all income levels. Plus how to be in a position of power when talking to someone intimidating, and Warren Buffett on the one key choice money can’t buy.

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Uber's $18 Bus

New York City leads the country in many things, but when it comes to airport access, it’s not exactly winning any awards. LaGuardia Airport, one of the busiest domestic hubs, still lacks a direct subway line, forcing travelers to rely on more expensive options like Ubers, which can cost upwards of $100 from Manhattan during peak times.

But starting this week, Uber has launched a new shuttle service to LaGuardia for a flat fee of just $18. But, there’s a catch, riders will be picked up in 14-person vans from only three locations: Penn Station, Port Authority, and Grand Central Terminal. If you're booking early, Uber is offering a promotional rate of $9 for the first month.

The service aims to streamline airport travel by scheduling pickups every 30 minutes and integrating the booking directly into the Uber app, making it a more familiar option than the existing shuttle services.

But is it a game-changer or just a rebranded airport bus? While the convenience of booking through Uber might attract users, it's really just a fancy carpool. The real edge Uber has is its app integration and the promise of regular service, but whether that’s enough to stand out in a crowded NYC market remains to be seen.

Takeaway: Uber’s shuttle service could offer a budget-friendly alternative to pricey rideshares, but it might just be the Spirit Airlines of airport transit - functional, but far from luxurious. On the upside, Uber can lean on its sustainability angle, positioning carpooling as a more eco-friendly option in a city notorious for gridlock. And sure, it’s not luxurious, but at least you’ll arrive at LaGuardia with enough cash left over for an overpriced beer.

_{PRESENTED BY HEBBIA}

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Top Reads

• Money does buy happiness, even if you’re rich (WSJ)

• Amazon's longtime logistics chief raises $100 million for new startup (Axios)

• Godfather of AI notches Nobel win (Bloomberg)

• Home Depot requiring corporate staff to work in-store shift (YF)

• New hires keep quitting after their first week (Inc)

• Deloitte feels the wrath over employee’s leaked JD Vance messages (CNN)

• Citigroup’s regulatory problem (Axios)

• A surprisingly resilient U.S. economy is lifting stocks (YF)

• Long-term interest rates move up after rate cut (Axios)

• The bar is high this earnings season (YF)

• Florida gas stations are running out of fuel as people flee Hurricane Milton (CNBC)

• Boeing at risk of junk rating with S&P amid strike (YF)

_{CAPITAL PULSE}

Markets Rundown

Market Commentary

U.S. stocks closed higher on Tuesday, with strong gains across sectors. Technology and consumer discretionary stocks led the charge, while most other sectors also posted gains. However, energy and materials lagged behind due to weaker commodity prices, which were pressured by disappointing news from China.

Despite expectations of new stimulus, China's National Development and Reform Commission offered little in terms of new economic measures, weighing on Asian markets and commodities like oil, which dropped by more than 4%.

The Hang Seng Index tumbled over 9%, while Japan’s Nikkei fell 1%. Meanwhile, bond yields remained steady, with the 10-year Treasury yield closing around 4.02%.

The focus this week will be on inflation, with key data releases including the Consumer Price Index (CPI) on Thursday and Producer Price Index (PPI) on Friday. Expectations are for a modest rise of 0.1% month-over-month in headline CPI and 0.2% in core CPI, while PPI is forecasted to grow at 1.6% year-over-year.

Inflationary pressures have eased from earlier in the year, aligning with the Federal Reserve's 2% target. However, robust wage growth and economic health could create bumps on the path to lower inflation.

Historically, October in election years has been volatile for stocks, with the S&P 500 averaging a 0.8% decline since 1952. Despite this, November and December have shown strong rebounds, with positive returns 61% of the time in November and 83% in December.

This suggests that, despite potential near-term volatility, markets could finish the year on a high note as election-related uncertainty subsides.

Movers & Shakers

• (+) WeightWatchers ($WW) +47% after announcing a copycat weight-loss drug offering.

• (+) DocuSign ($DOCU) +7% because the software company will be included in the S&P MidCap 400.

• (–) Super Micro Computer ($SMCI) -5% after giving back gains from Monday’s rally.

Private Dealmaking

• Ares Management acquired GLP Capital Partners for $3.7 billion

• Apollo Global Management acquired Barnes Group for $3.6 billion 

• Dovid Efune, owner of the New York Sun, nearing a $720 million deal to buy the Telegraph

• Experian bought ClearSale, an identity and fraud protection firm, for $350 million

• City Therapeutics, an RNAi-based medicines developer, raised $135 million 

• Maven Clinic, a women’s health clinic, raised $125 million

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

_{BOOK OF THE DAY}

Growth

Over the past two centuries, economic growth has freed billions from the struggle for subsistence and made our lives far healthier and longer. Yet prosperity has come at a price: environmental destruction, desolation of local cultures, the rise of vast inequalities and destabilizing technologies. Faced with such damage, many now claim that the only way forward is through “degrowth,” deliberately shrinking our economic footprint. But to abandon humanity’s progress would be folly. Instead, Daniel Susskind argues, we must keep growth but redirect it, making it better reflect what we truly value.

In a sweeping analysis full of historical insight, Susskind shows how policymaking came to revolve around a single-minded quest for greater GDP. This is a surprisingly recent development: economic growth was barely discussed until the second half of the twentieth century. And our understanding of what drives it is more recent still. Only lately have we come to see how humankind emerged from its millennia of stagnation: through the sustained discovery of powerful and productive new ideas. 

This insight undermines the mantra that “we cannot have infinite growth on a finite planet,” for the world of ideas is infinitely vast. Yet growth’s critics are right to insist that we can no longer focus on its upsides alone. We must confront the tradeoffs, Susskind contends: sometimes, societies will have to deliberately pursue less growth for the sake of other goals. These will be moral decisions, not simply economic ones, demanding the engagement not just of politicians and experts but of all citizens.

“Daniel Susskind writes with verve, style, and conviction about one of the most important issues of our age.”

_{DAILY VISUAL}

Tourists Fuel a Aervices Export Boom

_{PRESENTED BY BILL}

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_{DAILY ACUMEN}

Sleep

Getting a good night’s sleep is easier than you think, and it doesn’t require fancy pills or supplements. Often, sleeplessness isn’t about a biological issue—it’s about rumination and worry.

Like many of us, the stress of not being able to sleep can be what keeps us awake. The good news? By changing how we respond to those sleepless moments, we can transform our nights.

One effective trick is to read a boring book. Not a thriller, not a page-turner—just something interesting enough to occupy your mind and break the cycle of anxious thoughts.

Another helpful strategy is to repeat a calming mantra like, “The body gets what the body needs if you let it,” and pair it with deep breathing. Finally, consistency is key: go to bed at the same time every night, and if you wake up, use that time as a chance to relax rather than stress.

Sleep is less about the perfect conditions and more about your mindset. Focus on what you can control—your routine, your attitude, and your response to wakefulness—and let go of the rest. Over time, you’ll find that great sleep becomes a lot less elusive.

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Short Squeez Picks

• 5 frugal habits a self-made millionaire will never quit

• Warren Buffett on the one key choice money can’t buy

• Tips to make extra money without changing jobs

• How to be in a position of power when talking to someone intimidating

• The 29 best WFH essentials

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Memes of the Day