Morning Brew Daily September Stinks for Stocks & Why Tech is All About "Founder Mode"
Sep 4, 2024
September is notorious for stock market slumps, and this year might not break that trend. The buzz in Silicon Valley revolves around the intriguing shift to 'founder mode,' where entrepreneurs take a hands-on approach. Meanwhile, the wine industry is facing tough times as consumer habits change. Solo dining is on the rise, with more people embracing meals alone. In a bizarre twist, a TikTok trend has folks thinking they can score cash from ATMs—but it's illegal! And in Spain, the latest dating hotspot is none other than the supermarket.
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September Slump
- September is historically the worst month for stock performance, experiencing declines over 100 years.
- Investors are anxious about the economy and sell at any sign of weakness.
Founder Mode vs. Manager Mode
- "Founder mode" emphasizes hands-on leadership even with company growth, contrasting with "manager mode."
- Founders like Steve Jobs and Brian Chesky remained deeply involved, unlike the "hire good people and get out of the way" approach.
Wine Industry Decline
- Wine consumption has fallen to a 27-year low, impacting major producers like Constellation Brands.
- Younger generations show a particular aversion to wine, possibly due to shifting preferences and health awareness.