Inflation numbers remained high this month. The market expects the Fed to continue hiking interest rates at a good pace and reacted accordingly. Mortgage rates rose above 6% for the first time since 2008. I think the pain of a sharp recession is still to come as the much of the world has become used to record low interest rates for most of the last decade. Higher rates have a knock on effect that will catalyze a downturn, causing a stronger USD, higher debt servicing burdens, decreasing demand, drying liquidity, and slowing the economy. Unfortunately, the worst is yet to come.
Adobe agreed to acquire Figma for $20B in cash and stock which, at signing, is the largest private tech acquisition in history. (In 2014, Whatsapp agreed to be sold for $16B, which rose to $22B at closing as Facebook stock rose.) Adobe shareholders and Figma users didn’t love the news, but early Figma shareholders did.
Star Trek: Lower Decks (Season 3) Started watching this season. The series is a lot of fun. And somehow, they still keep it canon!
Restaurants
Bluestone Lane Cafe (Los Altos) Billed as an Australian-style cafe, we go there occasionally for a weekend brunch. The food is a facsimile of a Sydney breakfast, but I’ll take what I can get. (They sell fairy bread there but use sprinkles instead of 100s and 1000s. Heresy!) Bonus: two free Tesla charging stations. 3/5.
Charts & Images
Our 4th blackout this year that has lasted more than 30 minutes. This time happened just as we were about to bathe the kids. No power means no hot water.
The Uber hack is quite severe and wide ranging. Wishing their blue teams the best of luck and love during this understandably difficult period. Some thoughts & observations based on what we've seen so far 👉 1/N
Introducing Diffusion Bee, the easiest way to run Stable Diffusion locally on your M1 Mac. Comes with a one-click installer. No dependencies or technical knowledge needed.
my bf is on a plane to miami right now and a bulldog in the row next to him just had diarrhea. everyone freaked out, the dog owner began sobbing, and the dog escaped. now, covered in poo, it is running around the plane. people are lifting up their legs and screaming.
9:00pm 
