WORD ON THE STREET 

• Home Prices Rise AGAIN – So much for waiting for that housing market collapse to buy. Home prices are down year-over-year slightly, but are up 0.5% month-to-month according to the S&P CoreLogic Case-Shiller national home price index.

• First Netflix, Now Costco – Stop sharing subscriptions! Costco is following in Netflix’s footsteps, trying to prevent account sharing. Costco is asking for photo IDs if a shopper’s membership card has no picture. Membership fees are the pillar of the company’s business – sales for pricier merchandise have wobbled as consumers cut back on luxuries.

• BREAKING: Companies Try To Make Money – The International Monetary Fund blames corporations for rising inflation in Europe. “Rising corporate profits account for almost half the increase in Europe’s inflation over the past two years as companies increased prices by more than spiking costs of imported energy,” said three IMF economists. It said profits explain a plurality of price increases rather than rising import costs and labor.

• Human Trials Begin For AI Designed Drug – Insilico Medicine is entering an “AI-discovered-and-designed” drug into Phase 2 clinical trials. INS018_055 is a novel treatment for chronic lung disease idiopathic pulmonary fibrosis. The CEO called it a “true test for AI and the entire industry should be watching.”

HOT SPOTS: What’s Going on in Geopolitics

• Wagner Leader Begins Exile – Yevgeny Prigozhin is in Belarus, beginning his exile from Russia after a compromise deal with the Kremlin brokered by Belarus. Belarussian leader Alexander Lukashenko detailed the conversation that led to the agreement, saying at first he and Prigozhin had talked “almost only [in] swear words.”
  

• Putin Credits Military With Preventing Civil War – President Vladimir Putin addressed 2,000 military and law enforcement officials and credited them with facing down an attempted coup by the paramilitary Wagner Group. “You have defended the constitutional order, the lives, security, and freedom of our citizens,” he said. “You have saved our Motherland from upheaval. In fact, you have stopped a civil war.”

• China Wobbles On Ukraine Borders – The supposed “no limits” partnership between Russia and China has taken another hit. Fu Cong, China’s ambassador to the European Union, said that China would be open to Ukraine re-establishing its 1991 borders. “I don’t see why not,” he said. Russia would have something to say about that – it would include Russian-occupied Crimea, which Moscow says is a core part of its territory.

Bank collapses, corporate bankruptcies and more.

Silicon Valley is being gutted and completely reshaped.

Learn how one trigger could be the key to witnessing hundreds of triple digit wins in the aftermath of The Tech Reckoning

CUTTING EDGE: What‘s Happening In Tech

• Unity Booms After Unveiling AI Marketplace – Unity (U) was up more than 15% after it said it would host a marketplace for artificial intelligence software. “I think AI will change gaming in a couple of pretty profound ways,” said CEO John Riccitiello. “One of them is it’s going to make making games faster, cheaper, and better. It’s already happening.”

• Musk’s Mom Won’t Let Him Fight – Zuckerberg is never going to stop taunting him. Maye Musk, the mother of Elon Musk, says that the cage match between him and Meta Platforms head Mark Zuckerberg is “canceled.” She also told people “don’t encourage this match.” Don’t tell me what to do.

• Inform Consumers Act Targets Thieves – A new law designed to prevent organized retail theft is taking effect. It will require online retailers like eBay and of course Amazon to verify and share information on third-party sellers. The goal is to make it more difficult for thieves to hawk their stolen wares on online marketplaces.

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