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Is the US really in a recession right now?
Then, does the BPM of Lady Gaga's new album mean we're on the verge of a recession? We'll dig into the hashtag recession indicator memes sweeping the internet. It's Monday, March 24th. Let's ride.
Hope you all had a great weekend, the first weekend of spring. Odds are you didn't make it to a movie theater. Disney's Snow White live-action remake pulled in just $43 million in its domestic box office debut, a really disappointing haul for a film the company spent nearly $300 million to make. In fact, the controversy-plagued Snow White posted the worst opening weekend of all Disney live-action remakes. Surely this will be the end of these remakes, Toby.
I mean, I think you're spot on despite the controversies. People might just be a little over these things. I mean, how many uncanny valley CGI resurrections of our childhood favorites can the market stand? Disney is hoping at least one more, though, because we have a live action Lilo and Stitch coming down the pipeline in May. So we'll see if this tepid box office reaction was just a Snow White thing or if it speaks to a broader live action slowdown. Now, a quick word from our sponsor, Sophos. Neil, how good are you at solving problems before they actually become problems?
I'm more of a wait until things are on fire kind of guy.
Probably not ideal. Unfortunately, I am the same. If I see my phone case start to break down, do I order a new one? No. I convince myself that I can go case free. In cybersecurity, though, waiting until there's a fire means you're already too late. Scrambling to fix a breach is way worse than preventing it in the first place.
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I'm married to the no-case life these days. But don't be like me. Be proactive, stay protected, and head to Sophos.com to secure your business before trouble arises. That's S-O-P-H-O-S.com. Getting the internet to agree on anything other than clowning that one dude's morning routine is a tough proposition. But right now, a lot of terminally online people are convinced of one thing – We are heading towards a recession. Why? It's not that any specific economic data points are flashing warning signs. Instead, the internet's prognosis is based on recession memes. Search for hashtag recession indicators on social media, and you might see people posting about Lady Gaga's new album giving recession pop vibes or pointing to Jason Sudeikis'
re-dotting his mustache for a fourth season of Ted Lasso as signs that times are getting tough. While economists may look at yield curves in GDP growth, normal people, half jokingly and half seriously, take their cues from cultural trends, like how many people are spring breaking in Houston versus more exotic locales. At the core of these memes is a divergence in so-called soft data like consumer surveys versus hard data like jobs numbers, which are painting contrasting images of the economy right now. Citigroup's chief U.S. economist told Bloomberg, if you just look at hard data, you're looking at what happened a month ago, sometimes even two months.
How are companies filing for IPOs indicating market changes?
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, Apple may want to sever itself from its streaming service, which is losing $1 billion each year.
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