‘Roaring Kitty’ the meme stock leader goes all in on pets

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July 8, 2024

Sometimes you just have to go along for the ride.

Chewy, a business that delivers food and other products for pets, just took the meme stock ride when internet famous trader “Roaring Kitty” revealed their stake in the company. 

This trader has been followed closely online ever since his investment in GameStop and is currently facing a class-action lawsuit related to his stock trading.

In Today’s Issue of the DailyZoo:

The Perfect Time To Launch A Product.

The Housing Market Is Stuck.

What Is Fair Game For AI Learning?

Should Ultra-Processed Foods Have Warning Labels?

Let’s get into it.

INDUSTRY INSIGHTS

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AI also plays a pivotal role in fraud prevention. By analyzing patterns, it identifies suspicious activities and protects businesses from potential scams, safeguarding both merchants and consumers.

Despite these tremendous benefits, embracing AI can be daunting for some marketers. However, the key lies in integration – starting small and gradually expanding AI applications as confidence grows. This technology is not here to replace but to enhance and elevate marketing efforts.

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WEALTH, MARKETS & MONEY

The Housing Market Might Be Stuck…

First-time homebuyers looking for help might be frustrated for a few more years with high mortgage rates and even higher home prices.

Economists at Bank of America are convinced that the US housing market is “stuck and we are not convinced it will become unstuck” until 2026 or later.

“This will take many years to work itself out. There isn’t a magic fix,” said Michael Gapen, head of US economics at the Bank of America. “The message for first-time homebuyers is one of patience and frustration.”

Housing affordability is a major problem in America, and during COVID-19 and the Fed’s mortgage rates surging home prices have spiked. These two facts have made it historically unaffordable to buy a house.

“It’s been a weird combination. Mortgage rates rose substantially but so did home prices. That typically doesn’t happen,” said Gapen.

Many are finding that the supply of homes cannot keep up with the demand, and prices have done nothing but go up.

One of the major problems home buyers are facing is the “lock-in effect” which is hurting supply. Many who already own their homes are essentially locked into their property from when mortgage rates were super low. Now that home prices and rates have gone up it doesn’t make sense for many of them to move and lose out on their low mortgage rates.

“Why would I sell unless I have to?” said Gapen. “Prices have gone up and the mortgage rate is a lot higher. So I’m content to stay where I am.”

TECH
Is It Up For Grabs When It Goes Online?

Microsoft’s AI boss Mustafa Suleyman just stated that he believes that as soon as you publish anything on the open web, it becomes “freeware” that anyone can freely copy and use.

“I think that with respect to content that’s already on the open web, the social contract of that content since the ’90s has been that it is fair use. Anyone can copy it, recreate it, reproduce with it. That has been ‘freeware’, if you like, that’s been the understanding.”

Currently, Microsoft is under fire from multiple lawsuits that state that it and OpenAI are stealing copyrighted online stories to train generative AI models, which is why it may not surprise you to hear a Microsoft exec defend it as legal.

Suleyman has advocated cooperation rather than an adversarial approach with it comes to the international development of AI, but many content creators have argued that their intellectual property is being exploited without compensation. They also suggest that the continued use without authorization threatens their livelihoods and the integrity of generative AI.

An OpenAI spokesperson said, “We are working collaboratively with the news industry and partnering with global news publishers to display their content in our products like ChatGPT, including summaries, quotes, and attribution, to drive traffic back to the original articles. A component of the partnerships is the ability to leverage publisher content using various machine learning and training techniques to help us optimize the display of that content and make it more useful to users.”

Suleyman has also acknowledged the complexity surrounding content that publishers specifically protect from scraping.

AROUND THE ZOO

Fire ahead! California is facing high heat and fire danger as elevated temps and high winds are in the forecast, meaning fires are going to be much more likely to occur.

After winning the NBA title, the majority owner of the Boston Celtics has put the team up for sale. The sale is expected to be completed by the end of 2024 or early 2025.

Time to shop! This week is Target Circle week which means that Target Circle members will be getting access to exclusive deals and sales across many of their shopping categories!

HEALTH

Should Ultra-Processed Foods Have Warnings?

Despite growing evidence of the risks they pose, ultra-processed foods have been displacing healthy diets all over the world. According to the nutritional scientists who first coined the term “ultra-processed foods” (UFPs) nearly 15 years ago, they should come with tobacco-style warnings.

“UPFs are increasing their share in and domination of global diets, despite the risk they represent to health in terms of increasing the risk of multiple chronic diseases,” said Professor Carlos Monteiro of the University of São Paulo.

The warning comes in the face of rapidly rising consumption of UPFs such as cereals, protein bars, fizzy drinks, ready meals, and fast foods.

“UPFs are displacing healthier, less processed foods all over the world, and also causing a deterioration in diet quality due to their several harmful attributes. Together, these foods are driving the pandemic of obesity and other diet-related chronic diseases, such as diabetes.”

For example, in the UK and the U.S., more than half the average diet now consists of UPFs, and for some, especially those who are younger, poorer, or are from disadvantaged areas, a diet that consists of 80% UPFs is common.

A review in February of this year found that UPFs could be linked to 32 harmful effects on health, including a higher risk of heart disease, cancer, type 2 diabetes, adverse mental health, and early death.

“Public health campaigns are needed like those against tobacco to curb the dangers of UPfs,” said Monteiro. “Such campaigns would include the health dangers of consumption of UPFs.”

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