Nvidia Is Off The Charts

Hi, today we're exploring: (1) Nvidia's growth is off the charts, obviously, (2) Live Nation's business splits, (3) Parents are struggling financially Hello! Good luck to the estimated ~43.8M of you who are traveling [at least 50 miles]( this Memorial Day weekend: may the car jams and airport queues be ever in your favor. Today we're exploring: - Nvidia: The AI powerhouse stole the show this week... again. - Gig economy: The DOJ is targeting Live Nation. - Child tax: Parents are feeling the pressure financially. TOGETHER WITH All AIs on me For the stock market, the story of this week has been the story of the past year, with all eyes locked on AI-computing leader Nvidia. The company’s quarterly earnings, released after the bell on Wednesday, revealed revenue that was up an eye-watering 262% and profits that were even more extraordinary, with net income [growing more]( than 600% on the same quarter last year. Without using expletives or multiple exclamation marks, it’s hard to emphasize just how remarkable those numbers are. Shares in the company rose another 9% after the fact, taking Nvidia close to a $2.6 trillion market cap, up more than $1.8 trillion in the last 12 months. That's roughly equivalent to adding the value of a New York Times Company ($8B) every 38 hours or a Goldman Sachs (market cap $148B) every single month… for a year. Indeed, relative to its peers in the S&P 500, Nvidia’s growth makes it an outlier in almost every sense. The average company in the S&P 500 has seen 5.5% sales growth in the last 12 months, and the only stock even remotely close to Nvidia’s 262% figure is Super Micro Computer — another (much smaller) business that’s been riding the AI wave. As the wider stock market has boomed off of any AI chatter, Nvidia is one of the few companies turning buzz into actual bottom line results. [Read this on the web instead]( Musical chairs Yesterday, the Justice Department and 30 states filed a [lawsuit]( against Live Nation Entertainment, the owner of Ticketmaster, accusing the company of using “unlawful, anticompetitive conduct to exercise its monopolistic control over the live events industry in the United States at the cost of fans, artists, smaller promoters, and venue operators”. The crux of the case is that Live Nation, which manages over 400 artists, owns or operates 260 concert venues, and controls more than 80% of major concert ticketing through Ticketmaster, is simply too big. In rebuttal, Live Nation’s lawyers will presumably do their best to argue what all dominant companies proclaim: their size and scale actually lowers costs for consumers. Center stage Since the company acquired Ticketmaster in 2010, Live Nation has set about building a business that controls nearly every layer of the live event lifecycle, from artist management to venue operations and ticketing, attaching [numerous additional costs]( such as “service fees” and “convenience fees”, to its ticketing platform along the way. Indeed, while concerts constitute the bulk of the company’s revenue, they are far from its most profitable segment. Last year, the company reported just a 2% adjusted operating profit margin in its concerts division, while ticketing made a whopping 38%, and ads and sponsorships managed 62%. Indeed, the concert division often relies on other parts of the business to help [fund it]( a lifeline it would lose if the DOJ does manage to split the company up. Look What You Made Me Do: The controversy surrounding Live Nation's dominance reached a boiling point following the [chaotic ticket]( rollout for Taylor Swift's Eras Tour in 2022, a furore which eventually led to a hearing at the Senate Judiciary Committee. [Read this on the web instead]( [Sponsored by Masterworks]( Proprietary Data from Masterworks’ Research Database that factors into future investment decisions. Data represents whole art not an investment into Masterworks offerings, which may differ due to artwork portfolio composition as well as vehicle structure, including fees and expenses. How Masterworks aims to beat the art market It's no secret that contemporary art prices have outpaced the S&P 500 by 64% from 1995 to 2023. But for Masterworks, an [investment platform focused solely on contemporary art]( keeping pace with the market isn’t enough. It wants to beat the market. How are they attempting this? By utilizing their proprietary database to identify artist markets with the strongest historical appreciation.* Research data for artists like Banksy and Basquiat indicate 14.4% and 15.42% median appreciation rates respectively, based on repeat sales public auction data. They believe this quantitative analysis, combined with their world-class acquisitions and research team, composed of art market insiders, gives them an unrivaled edge over the competition. To discover how to diversify your portfolio with shares of blue-chip contemporary art, use this [exclusive Chartr link]( to get $100 which you can use towards your first investment.** [Discover more about investing with Masterworks]( Parent trap No one ever said that raising kids was a walk in the park, but American parents appear to be under more financial pressure than usual as inflation and rising childcare costs continue to bite, with less than two-thirds of American parents saying they’re doing “at least okay” financially according to the Fed’s latest Economic Well-Being of US Households [report](. The latest survey painted a reasonably rosy picture of Americans' finances, with the summary concluding that “people’s overall financial well-being was nearly unchanged from the previous year”. That was despite inflation, the omnipresent economic elephant in the room, which had reportedly made 65% of US adults' financial situation “worse” in the last year and weighed heavy on parents. Indeed, 75% of adults who don’t have under 18s living at home reported that they were financially okay in 2023, while just 64% of parents said the same. Some are declaring a cost of parenting crisis in the US, after childcare fees in America soared to become “untenable for families across all care types, age groups, and county population sizes”, per a [2023 report]( from the Women’s Bureau within the Department of Labor. Indeed, the cost of day care and preschool has outstripped overall inflation for over a year now, and [some estimates]( put the average price of enrolling a child in a licensed day care as high as ~$17K a year. [Read this on the web instead]( More Data • 315K people applied for this year’s Goldman Sachs summer internship program — a record high… 0.9% got accepted — a [record low](. • It's no secret that contemporary art prices have outpaced the S&P 500 by 64% from 1995 to 2023. But for Masterworks, an [investment platform focused solely on contemporary art]( keeping pace with the market isn’t enough. Discover more about [investing with Masterworks]( • Google’s new AI Overview is telling people to glue down pizza cheese, run with scissors, and eat rocks… partly because it was trained on garbage posts [on Reddit](. • After Nvidia's blowout quarter on Wednesday it also announced it would be staging a 10:1 share split, but what does that [actually mean]( • 62.2M NYC visitors generated a record $4.9B in tax revenue for the city last year, as tourism creeps slowly towards [pre-pandemic levels](. ***This is sponsored content. Hi-Viz • 2024 is the biggest global election year in history… Americans are [mostly unaware](. Off the charts: Famed studio Pixar announced it was [cutting 175 jobs]( as the Disney-owned animation specialist restructures. But what, according to critics, is Pixar’s worst movie ever? [Answer below]. [Answer here](. Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi%2C%0A%0AI%20like%20the%20newsletters%2C%20but%20I%20had%20a%20thought%20for%20you...) or want to [sponsor]( newsletter](mailto:james@sherwoodmedia.com?subject=Chartr%20NL%20Sponsorship%20Enquiry%20)? Not a subscriber? Sign up for free below. [Subscribe]( Advertiser’s Disclosure: *The content is not intended to provide legal, tax, or investment advice. Past artist appreciation rates are not indicative of future appreciation rates. Investing involves risk. While Masterworks believes art market comparisons to other asset classes can be useful to help potential investors discern long term trends in these asset classes, there are significant limitations to the utility of such comparative data, particularly over shorter time periods. Potential investors are cautioned not to place undue reliance on such data. Artist Market Appreciation reflects the median annualized price appreciation rate of artworks in the main medium of an artist that have sold at least fifteen times at public auction, known as "repeat sales" and is based on publicly available auction data. Median appreciation rates by artists are implied from sales occurring from January 1, 2000 to December 31, 2023. The selection of a different date range could result in materially different results. Selected markets in the above chart were chosen as a representative sample of artists on Masterworks platform with more than 5 offerings historically launched and most recent offering launched in the past calendar year. **User will receive $100 via check after completing a call with an advisor. Terms and conditions apply. Complete details [here](. See important Reg A disclosures at [masterworks.com/cd](. Copyright © 2024 CHARTR LIMITED, All rights reserved. You are receiving this email because you opted in via our website. 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