Neil Freiman

In the cutthroat, low-margin world of bars, one New York City pub is getting creative to stand out.

Ahead of Game 1 of the NBA Finals tomorrow night between the Knicks and the Spurs, the Jeffery on the Upper East Side of Manhattan announced a promotion with a prediction market twist.

If the Knicks win, then

everyone who buys food or drink there during the game will get their tab picked up by the house up to $100 a piece.

And the Jeffrey is okay with that because they are hedged or de-risked.

The owner, Andy, said he put $5,000 on the Couchy bet for the Knicks to win game one.

So whatever happens in the game, the Jeffrey doesn't lose too much or might even come out on top.

Toby, is this the first instance of a bar turning into a hedge fund?

This isn't a scrappy startup or niche tool.

Sage is powering financial operations for companies in every industry, from coffee shops to manufacturing plants across virtually every market.

To learn more, head to sage.com slash morningbrew.

That's sage.com slash morningbrew.

It's a tough job market out there for recent college grads.

The unemployment rate for these whippersnappers climbed to 5.6% this March, up from 3.6% in March 2019.

And if you listen to the booze rain down at commencement speeches, many blame AI for taking entry-level jobs.

But something else really big happened between 2019 and 2026, the pandemic and remote work.

Remember that?

And a couple of brand new studies found that the shift to remote work, not AI, has created the miserable job market conditions recent college grads find themselves in.

In a paper published yesterday, New York Fed economists estimate that remote work accounts for nearly two thirds, 64 percent of the rise in recent college grad unemployment.

That follows another fresh study where authors Peter John Lambert and Yannick Schindler of the London School of Economics in Oxford blame remote work for the entry level job wipeout.