This is Nick. This is Jack. It’s Friday, which means we’re putting off work and looking at getaways for our upcoming two-week TBOY break. At the top of our list? Gwyneth Paltrow’s Santa Barbara AirBnb… GoopBnb? Either way, it’ll be a transcendental experience if we can consciously uncouple from our work after our botox detox. 💆💆 

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1) The Fastest-Growing App Is a Snorlax Slumber Party

Pokémon Sleep, which is like Pokémon GO but for your dreams, is rising the ranks by gamifying your sleep habits. With 3.2 million global downloads as of last weekend, Pokémon Sleep has hit No. 1 overall in Japan and No. 4 in the games category in the U.S. in two weeks.

Pikachu’s new app reportedly brings in $130K in daily revenue doing this:

• Players leave the app open on their phones beside them as they catch 💤s.

• Pokémon Sleep listens to your breathing patterns to track your sleep quality—from heavy REM to just dozing off.

• The app rewards you in the AM with Pokémon characters based on how well you rested. We’re all after the Snorlax, for reasons we hope are clear.

The Takeaway →

The humble brag is the new growth hack. Consider Wordle. Your mom still texts you daily screenshots of her winning streak, right? Pokémon is capitalizing on the same phenomenon: Snoozers are showing off the Caterpie they earned last night, giving their friends FOMO. And now, Pokémon can expand its market share to all 24 hours of your day.

2) "What Recession?" —Bank of America

Bank of America is doing what your older sibling never could: admitting they’re wrong. BoA’s economists have officially dropped their forecast for a U.S. recession.

Some background: Big banks like JPM, Citigroup, and BoA have been warning of a recession since inflation hit 5% two years back. But BoA is the first major bank to control Z their prediction.

Why? The data. Let’s roll the tape:

• A recession is when the economy shrinks for two straight quarters, but the economy has grown for the last four quarters.

• Consumer confidence just hit its highest level in two years.

• Inflation is at its lowest level in two years.

• Today’s jobs report is expected to show an unemployment rate of 3.6%, close to an all-time low.

The Takeaway →

So we’re not in a recession…but it can still feel recession-ish. Just about everyone who wants a job has one, and paychecks are growing faster than inflation. But specific parts of the economy are struggling. Just ask anyone who invested in crypto at its peak, was recently laid off from their cushy Big Tech job, or works in real estate.

3) Amazon’s Crushing It—But its Grocery Game Isn’t

Can we whip up Amazon’s wild second-quarter highlights for ya? Revenue jumped 11%, profits doubled, and the stock’s up 60% this year. Leadership mentioned “AI” 13x (obligatory) on its earnings call yesterday...but there’s one word they only mentioned once: “groceries”

Amazon’s grocery biz has an identity crisis: It’s juggling three different grocery brands at once: Amazon.com, Amazon Fresh, and Whole Foods (Skippy’s from Fresh, but only Whole Foods has salmon?). Now Amazon’s streamlining how you order all three and offering fresh food delivery to non-Primers, buuuut…

• Amazon’s still just 4% of the U.S. grocery market (Walmart is 5x that).

• And it lost $720 million on its grocery game last year.

The Takeaway →

Even Amazon has an Achilles heel—and it’s groceries. Amazon’s thrown all its tech (palm-scanning payments) into groceries, but a head of lettuce can’t be shipped in a cardboard box. So far it can’t sell groceries profitably online…its one Achilles heel.

Here’s what else you need to know today—

⚖️ Former President Donald Trump pleaded not guilty in federal court Thursday to charges that he conspired to block the transfer of power.

🍺 Molson Coors is capitalizing on Bud Light’s drama with record-breaking sales. And it’s International Beer Day, so cheers, mate.

❤️‍🔥 Tinder is launching a $500 per month membership called Tinder Vault that will use AI…because we all know cupid was a bot.

🍔 MrBeast is suing the company responsible for making his Beast Burgers over quality control issues, reminding us that sometimes scale means giving up your Type A ways.

🧑‍💻 The average workday for Americans just shrank by 37 minutes. Again, cheers, mate.

🪧 Matt Damon, Leonardo DiCaprio, and Oprah Winfrey are among the A-listers who each gave at least $1 million to actors and writers on strike.

🤠 Waymo’s robo-taxis are driving themselves to Austin, Texas. There’s another reason to go to SXSW 2024.

🤑 Taylor Swift is making truck drivers' wildest dreams come true by giving them $100K bonuses to close this leg of her Eras Tour on a high note.

And one more thing. Should we have The Best Day Yet at Gwyneth’s sanctuary or another celeb’s crib? Let us know who we should book with.

—Nick & Jack