Happy Thursday, fam… and a very happy Thursday to our NYC readers. Just weeks away from the implementation of a new toll — which could’ve been as high as $15 — for cars to enter Manhattan’s business district, Governor Kathy Hochul announced that the plan has been paused indefinitely. The move was supposed to ease congestion in the district, but concerns about how the toll would affect working-class New Yorkers led to the reversal.

In other news… Texas wants you to IPO in the state, IKEA is hiring employees to work in Roblox, and Lewis Hamilton gets the glowiest glow-in-the-dark watch ever made.

We hope you enjoy this and all upcoming issues, but we have one request: please share your feedback. If you have any thoughts at all about our new look, format, and direction, please reply to this email. It’ll go straight to us. Do not hold back.

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• YouTube – Alien: Romulus 

• X (Twitter) – MaXXXine

• Google – Halsey

• Reddit – Emma Stone & Nathan Fielder

• TikTok – “black flowers” - castle hearts

• Spotify – “The Beginning” - Snow Patrol

.BUSINESS.

Texas is establishing its own national stock exchange

The Future. A group of major investment firms, companies, and high net-worth individuals have filed with the SEC to launch a new national stock exchange in Texas. While there used to be several exchanges last century, the last few decades have been dominated by the New York Stock Exchange and Nasdaq. Considering how partisan politics have seeped into the finance industry, expect the Texas Stock Exchange to woo companies looking to make a statement to potential shareholders.

Freedom in financing
Texas is flexing its independent spirit with the upcoming launch of the Texas Stock Exchange.

• The project has raised $120 million and is backed by BlackRock (the world’s largest asset management firm) and Citadel Securities (one of the biggest electronic trading firms) — two of Wall Street’s biggest players.

• The backers believe that the NYSE and Nasdaq now have too many rules and regulations (such as compliance costs and board diversity requirements), so the TXSE aims to be more lax and “CEO-friendly,” per WSJ.

• The plan is to officially launch this year, start facilitating trades next year, and host its first public listing in 2026.

• TXSE’s trades will be entirely electronic, aiming to attract primary and dual listings and ETFs (hello, crypto).

The move comes as Texas, especially the city of Dallas, has become a magnet for businesses searching for more favorable regulations and lower taxes. Elon Musk famously moved SpaceX out there, AT&T and American Airlines are already in the state, and Goldman Sachs is building a new campus.

We’ll see how many decide to list on the new exchange.

55.4% of you voted Yes in yesterday’s poll: Do you trust your bank?

“It’s a teacher’s credit union, so I really do trust it!”

“I bank with five banks. Two are major players, and I don’t think I’ve ever trusted them. The other three are credit unions that I feel respect their customers more and are more forthright with information.”

“The sales pitch calls I get show how much they snoop through my accounts. Keep your checking account bank separate from your credit card bank. Otherwise, they have a complete financial picture to use as they wish.”

.A WORD FROM OUR FRIENDS AT RYSE.

Last chance to take advantage of a timely opportunity

Today, FutureParty readers have a final chance to invest in what may become the next household name in smart-home tech.

We’ve been reporting on the incredible 55% annual growth of the smart shades industry and the company poised to own this market.

With distribution rivaling that of the biggest smart-home names, RYSE is extending the opportunity to invest in their company until the end of this week.

We’ve seen what getting in early on smart-home companies with retail distribution looks like:

• Early investors in Nest (smart thermostat) earned a 20x return when they were acquired by Google for $3.2 billion.

• Similarly, Ring’s (smart doorbell) investors reportedly earned a 10x multiple on their capital when acquired by Amazon for $1 billion.

Mirroring their playbook, RYSE’s share price has grown 50% year-over-year, with strong upside remaining as they launch their second product and expand into over 100 Best Buy stores.

Media, Music, & Entertainment

• After finding new ownership, controversial co-founder Shane Smith is coming back as a correspondent for Vice News and will also produce content for Vice’s social channels. [Read More]

• Lionsgate’s MovieSphere will be the first major FAST platform to have its viewership measured by Nielsen. [Read More]

• Spotify has inked a deal with the creator-operated indie streamer Nebula to bring a slate of video programming to the music platform. [Read More]

Fashion & E-Commerce

• The Crypto.com Arena and Peacock Theater in Los Angeles are replacing all single-use cups used at concessions with reusable ones that will be recycled and returned after each event. [Read More]

• IWC’s new watch, which was designed for F1 superstar Lewis Hamilton, is the most luminous watch ever made after creating the first-ever glow-in-the-dark ceramic case. [Read More]

• eBay is rolling out an AI tool that can generate backgrounds for product photos. [Read More]

Tech, Web3, & AI

• Jeffrey Katzenberg, the former Disney chairman and co-founder of DreamWorks, announced a $460 million funding round in his holding company WndrCo to invest in companies focused on “the future of work, consumer technology, cybersecurity, and developer infrastructure.” [Read More]

• Current and former employees of OpenAI have signed an open letter detailing a culture of risk at the firm and asking for whistleblower protection so they can talk about their experiences. [Read More]

• Google has let go of its head of privacy and its head of competition law (both longtime veterans at the company) and has no plans on filling the vacant roles. [Read More]

Creator Economy

• A report from Insider Gaming about leaked PlayStation content found that when a video has been uploaded to YouTube but hasn’t been scheduled to go public, employees at YouTube can access the video. [Read More]

• Substack is debuting video capabilities on its popular Chat feature. [Read More]

• The first kids to go viral on social media (because of their parents’ uploads) are now at the forefront of pushing for legislation to protect children’s privacy. [Read More]

.RETAIL.

IKEA employs workers in Roblox

The Future. IKEA announced that it’s hiring employees to work at its new virtual retail store in Roblox. The job opportunity seemingly marks the first time a major retailer is hiring people to work within the metaverse… but others are sure to quickly follow. Don’t be surprised if many of Gen Alpha’s first jobs are gamified roles for major companies.

Metaverse manager
IKEA’s digital team is about to get a lot more interactive.

• The Swedish furniture giant will hire 10 staff members for its new Roblox experience titled, “The Co-Worker.”

• The workers will provide customer service for gamers who come into the virtual store to buy items, redesign the showfloor, and serve virtual meatballs.

• They’ll also be able to change roles, switch departments, and gain promotions — that’s because the experience is actually a big ad for IKEA’s career opportunities.

As of now, applicants must reside in the UK or Ireland and be over the age of 18. Also, current IKEA employees aren’t eligible to apply.

Sorry to those employees who thought this would be a good opportunity to switch to a remote work arrangement.

.A WORD FROM OUR FRIENDS AT 1 MINUTE QUESTION.

Ever feel overwhelmed or stuck in a negative thought loop?

What if we told you that this one-minute brain hack can help?

If that’s not convincing enough, neuroscience has also proven that it works.

You can use it to activate positive energy whenever you need it — before an important meeting, on a stressful day, or just to get in a flow. 

The cherry on top: it’s free to join.

• Watch: After several delays, Boeing launched the first crewed mission aboard its Starliner spacecraft, which is now heading to the International Space Station.

• Listen: Write On chats with Late Night host Seth Meyers about the state of the late-night talk industry.

• Read: Bloomberg details how Birkenstock somehow, someway, has turned into a full-fledged luxury brand.

Twitter/X marketing done right.

JOBS OF THE WEEK

Explore a weekly curated list of the latest and greatest opportunities in business, tech, and entertainment. For more listings, check out the complete job board.

Senior Product Designer
TikTok
San Jose, CA

Digital Editor
Kroenke Sports Enterprises
Remote (US)

Assistant, Motion Pictures and Television
CAA
Los Angeles

Senior Product Manager
Bloomberg
New York, NY

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