Morning Brew

Applications also tend to spike in times of economic uncertainty

The premium for ditching your current employer has all but disappeared since the red-hot job market of 2022 and 2023. ⁣ ⁣ The median pay bump notched by those switching jobs shrunk to 4.8% last month from a peak of 7.7% in early 2023, according to recently released data from the Atlanta Fed.⁣ ⁣ In February 2023, a job-ditcher got a median 7.7% raise over the year, compared to a 5.6% pay bump for someone staying put. And last month, those who remained in their jobs received a 4.6% annual raise, just .2% under someone posting about “an exciting new chapter” on LinkedIn.⁣ ⁣ Job-hopping ceasing to be a surefire way to enter a new tax bracket is a sign of a cooling economy in which employers are no longer on the poaching prowl. Overall, it's helping lead to fewer people taking the leap toward a new employer. Less than 2.2% of workers switched jobs last month compared to 2.6% in June 2022, per government data.⁣ ⁣ 📸 : 'The Wolf of Wall Street' / Paramount Pictures

Klarna inked a deal with Doordash for BNPL ft. Megan Baniewicz

Apple TV+ is apparently a money pit.⁣ ⁣ According to a report from "The Information," the service is reportedly losing over $1 billion annually despite reaching 45 million subscribers in 2024, making it the only unprofitable Apple subscription service. While Apple initially budgeted $5 billion for Apple TV Plus content, it has since reduced spending by around $500 million. Despite hit shows like "Severance," the platform only accounts for less than 1% of total streaming viewership—far behind competitors like Netflix, which commands 8.2%, per Nielsen data.⁣ ⁣ The service is seen more as a strategic tool to keep users in the Apple ecosystem than a direct profit generator. Apple's broader services division, which includes iCloud, the App Store, and Apple Music, remains highly profitable, though growth has slowed in some areas. Other Apple services like News Plus, Fitness Plus, and Apple Arcade are also struggling with low usage and profitability, and would likely be unprofitable if not bundled under Apple One.⁣ ⁣ 📸: Apple TV+

Workdays just keep gettin' shorter

China’s top EV-maker says its newest cars will charge faster than the time it takes you to pick up Takis at a rest stop.⁣ ⁣ BYD announced this week it developed chargers that will allow its newest models to fully charge in as little as five minutes (for 250 miles of range). The company plans to start shipping two five-minute-charge models next month and install 4,000 of the new Super e-Platform chargers across China.⁣ ⁣ With refueling time comparable to a gas-guzzler, BYDs latest breakthrough will rub salt in the wound for Tesla, which is getting schooled in China by domestic EVs that are cheaper and increasingly high-tech, while watching its sales fall in major European markets.⁣ ⁣ Shares of Tesla have plunged 44% since the year began, and analysts expect its global sales to stagnate in 2025. Meanwhile, news of five-minute chargers powered BYD’s stock listed in Hong Kong to a record high yesterday. ⁣ ⁣ 📸 : Getty

The battle for search is heating up 🎥 : Blake Guidry

It’s the largest sale in history for a North American sports franchise.⁣ ⁣ The new owner of the reigning NBA champs will be Bill Chisholm, managing director and co-founder of private equity firm Symphony Technology Group (STG), for the record price of $6.1 billion, per ESPN. Other major partners of the ownership group include private equity giant Sixth Street, who's committing over $1 billion in the deal, per Sportico.⁣ ⁣ The sale surpasses the previous record for a North American franchise, when the NFL’s Washington Commanders sold for $6.05 billion in 2023.⁣ ⁣ The Grousbeck family led a group that purchased the Celtics for $360 million in 2002 and watched the franchise’s value skyrocket over the next two decades. They let it be known last June that they intended to sell a majority share of the team in 2024 and 2025, with a full sale completed by 2028.⁣ ⁣ The Celtics are one of the most popular and iconic franchises in the world. They own an NBA record 18 championships, two of which have come under Grousbeck's ownership.⁣ ⁣ 📸 : Getty

We've covered whether you should work for a company that goes against your own values...but what about your friends?

Despite more women and young people entering the investing space, trading is still dominated by older men. What needs to change to make the industry more inclusive and diversified? Tom Sosnoff, CEO of tastyliveshow and founder of tastytrade, joined Ann Berry on After Earnings to break it down. Watch the full episode: https://lnkd.in/e_xjUWum