You're reading a newsletter from The Indicator from Planet Money.
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You → read → Money
Once a week, we curate our favorite stories and insights on business, finance, economics and why they matter.
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they → curate → economics
This week, a guy had random buyers show up to his house thanks to Meta's new AI agent Muse!
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buyers → have → agent
Matt Robb, a YouTube creator, posted online that he let Muse manage his Facebook Marketplace account.
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Muse → post → account
When he let Jarvis (the name of this AI agent) sell a wireless keyboard, things did NOT go as planned.
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things → let → keyboard
The bot accepted a low-ball offer and consequently handed out Matt's ADDRESS to a potential buyer.
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bot → accept → buyer
The Indicator team has been talking about Muse a lot this week after the app popped off with around 5 million downloads since its Sept. 8 launch.
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app → talk → launch
Host Wailin Wong says her mom is already finding a use for it!
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mom → say → it
"My mother named her Muse agent after Mr. Darcy from Jane Austen's Pride and Prejudice.
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mother → name → Pride
She had Darcy design a greeting card for a relative and a t-shirt as an 80th birthday gift for someone in her senior living community," Wailin says.
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Wailin → have → community
"Then she got them printed at the public library maker-space.
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them → get → space
I never imagined my mom would use an AI agent!
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mom → imagine → agent
"
Coming up:
- Why people are spending so much on their hobbies
- Why diesel seems to always be more expensive
- What strategies colleges can use to boost applications
Trivia Question: What is one mechanism hedge funds use to help people sidestep paying the government?
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people → come → government
New's We're Watching
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We → watch → ?
Is it getting more expensive to have fun?
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it → get → fun
Bloomberg wrote this week that American consumers are spending less on bowling, arcades or amusement parks.
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consumers → write → bowling
With inflation tightening people's purse strings, spots like Dave & Buster's and Lucky Strike are seeing less traffic and it's hurting their bottom line.
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it → tighten → line
Six Flags is seeing lower attendance, too.
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Flags → see → attendance
On the OTHER hand, CNBC wrote how consumers are spending more on hobbies at home compared to last year.
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consumers → write → year
People are making more transactions AND hobbies are costing more.
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hobbies → make → more
We're talking arts & crafts, video games, books, the list goes on.
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list → talk → arts
So IS fun over?: Of course not, but people may be substituting treks out of the house for more in-home activities.
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people → substitute → activities
It's pricey as heck to travel right now, whether you're driving or flying!
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you → travel → heck
So is it getting more expensive to have fun?
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it → get → fun
Whether it's out of the house, or in the house, it's costing more.
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it → cost → more
But people are willing to spend on more localized activities.
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people → spend → activities
One interesting note from Bank of America's analysis on the price of fun: people with the least free time are spending the most on hobbies, aka older millennials.
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people → spend → hobbies
Part of the reason: they're buying for their kids too.
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they → buy → kids
What to know: When you go to the gas station, diesel is often the pricier option compared to unleaded or premium gas.
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diesel → know → gas
Can you remember a time when it was less expensive??
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it → remember → time
It's gotten so bad, Republican members of Congress have been lobbying President Trump to ban diesel exports in hopes of lowering prices.
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members → get → prices
Apparently, the administration is seriously weighing the move, though the American Petroleum Institute is adamantly against it.
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Institute → weigh → it
When diesel got expensive: This week, diesel fuel costs just under $2 more than regular gasoline per gallon.
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fuel → get → gallon
But once upon a time, diesel actually cost LESS than regular-grade gas.
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diesel → cost → gas
The switch happened back in Sept. 2004.
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switch → happen → Sept.
The Energy Information Administration points to three primary reasons.
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Administration → point → reasons
Back in the early 2000s, China and India were motorizing and industrializing at new levels, according to Clay Seigl, who leads the energy practice at Beacon Global Strategies.
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who → motorize → Strategies
He adds they were ramping up agriculture alongside big construction and infrastructure projects too.
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they → add → projects
That's all powered by diesel.
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That → power → diesel
At the same time, in Europe, diesel grew from just 13.8% of new car registrations in 1990 to 53% in 2007.
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diesel → grow → 2007
…and 36 more, not listed.
The Aporia
