🚀 McDonald's ends IBM AI Partnership

Sponsored by

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. McDonald’s is ending its AI drive-through partnership with IBM, shutting down the Automated Order Taker in over 100 restaurants by July 26 due to issues with interpreting different accents, which affected order accuracy. Despite this, McDonald’s remains open to future AI drive-through projects and will continue collaborating with IBM on other initiatives. Additionally, McDonald’s announced a new partnership with Google Cloud in December, though details of this collaboration are still unknown .

2. Retail spending in May was weaker than expected, rising only 0.1% and missing the Dow Jones estimate by one-tenth of a percentage point, according to a Commerce Department report. On a year-over-year basis, sales increased by 2.3%. Excluding autos, sales declined 0.1%, falling short of the expected 0.2% increase. Gas station receipts dropped 2.2% due to moderating gas prices, partially offset by a 2.8% rise in sales at sports goods, music, and book stores. Online sales increased by 0.8%, while bars, restaurants, and furniture stores saw declines. The weak consumer spending, accounting for about two-thirds of economic activity, suggests potential retrenchment in growth and could influence the Federal Reserve's monetary policy. Despite somewhat encouraging recent inflation numbers, prolonged price pressures have strained consumers. Market speculation indicates possible interest rate cuts by the Fed this year, with traders increasing bets on easing following the retail data.

3. Raise Venture Capital in 2024. Get the course helping top founders raise venture capital. The materials in this course are used by founders pitching a16z, Sequoia, YC and more while raising tens of millions! Get the course now for just $199. *

4. Headlines

   1. Boeing inspector accuses the company of mishandling parts.

   2. Apple has removed the Pay Later option ahead of its new partnership with Affirm.

   _{* This is sponsored content.}

We use AI to scour the internet for stock ideas from billion-dollar hedge funds, professional analysts, millionaire investors, and more.

Subscribe to The Yellowbrick Road to start receiving the free, daily email with the best stock ideas.

Are you looking to grow your business? Here is how I can help:

📢 Promote your startup to 2,000+ VCs including investors from a16z, YC, Techstars, Rarebreed, Sequoia and more.

📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

📺 Access FundraiseOS, the ultimate fundraising course with video lessons and practical worksheets helping with everything from deciding how much to raise to understanding a term sheet.

💸 Promote your product or service to 100,000+ entrepreneurs.

🌐 Connect with me on LinkedIn or X (formerly Twitter) to get access to new content about startups, fundraising, venture capital, and more every day.

Onwards and Upwards,

Liam Gill