JPoww | Porsche | GoPuff
New week, same inflation. Don't you hate it when that happens? Below are three stories worth knowing about via memes, takeaways, and relevant links.
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JPoww in Jackson Hole
In his annual Jackson Hole, Wyoming, policy speech, JPoww added that higher interest rates likely will persist “for some time. The historical record cautions strongly against prematurely loosening policy.” Batten down the hatches, for there be an economic maelstrom ahead!
Porsche Zooms towards IPO
Despite a chilly IPO market, Porsche is burning the rubber and has lined up investor interest for its initial public offering at a valuation of as much as $85 billion. If it goes through amidst market headwinds, it will be one of Europe’s biggest-ever listings. We'll see if German engineering holds up on the rough roads ahead...
GoPuff's Pumping Up its Cash Reserves
It's a tradition unlike any other: An unprofitable, Softbank-backed startup seeks a cash cushion to soften its landing. That's right, GoPuff wants cash. 300 million dollars of it via a credit line. Have no fear though! "In a staff memo, Gopuff’s co-founders wrote that the latest cuts aim to shift to profitable growth and adjust the business amid concerns the economy is slowing." And I'm giving up beer and pizza (read as: not gonna happen).