Executive Briefing
The great unclenching
Also: A net promoter score for human existence. Chipotle’s new mega-George Foreman grill. And is 10 million Apple Cards good?
By Dan Frommer on Saturday, July 29, 2023 at 8:00 am
The throughline from my past few weeks of conversations, meetings, research, and reading: Things are actually looking okay right now. The US economy isn’t collapsing into the serious recession that many had feared.
The consumer is feeling better about life — it’s literally in our survey data (see next). And there’s an unclenching feeling going around: Prime Day spending was up; airports and movie theaters are packed; early-stage venture investors are busy on new deals and new funds.
We are not, to be clear, out of the woods: There are still bridge rounds to raise and more trims ahead. Some bad outcomes are inevitable for those who flew too close to the COVID/ZIRP sun. More labor action — like the averted UPS strike, which could have been disruptive for e-commerce — feels likely. Money is still moving much more cautiously. Things can always turn.
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