Thank you, Jack Ma, for getting everyone even more excited ahead of the long Memorial Day weekend.
The Alibaba (BABA) - Get Report founder, never short of big ideas and buzzy statements, reportedly told onlookers at the Big Data Expo in China on Friday that in 20-30 years, many people will only work four hours a day and three-four days a week. No doubt that prediction is rooted in the the rise of the machines, from new "things" to make a car more efficient to artificial intelligence crunching and putting data to work.
The uncertain thing: does the worker still get paid for working eight hours a day, five days a week? If not, here comes massive wage deflation (machines only get paid for once, and then again when they need to be fixed/upgraded or are past their useful life) that sends corporate profits through the moon.
No way we know what the crazy stock market has been betting on -- forget that Trump stimulus stuff.
Ma's calls on how robots will influence businesses isn't new news.
"In 30 years, a robot will likely be on the cover of Time Magazine as the best CEO," Ma said in a speech in April at an entrepreneurship conference in central China. Robots are quicker and more rational than humans, Ma proclaimed, and they don't get taken off track because of those silly things called emotions.
From a news standpoint, I sure wish Ma spoke once a week somewhere. He's great.
Read This Or Lose Out
Go get'em Costco: Costco's (COST) - Get Report quarter was surprisingly strong, TheStreetreports. For one, it reinforced that Costco is unlikely to be destroyed by Amazon (AMZN) - Get Report within the next year. That's always good. Secondarily, the quarter suggests Costco is taking business from rivals, one of them perhaps being Target (TGT) - Get Report .
Does your company do this: 72.5% of employers in the U.S. are planning to offer student loan assistance "to attract and recruit young talent", TheStreetreports. Might be a good idea to pop on down to your HR department today to see what's up.
Oh, President Trump: No, this one can't be taken out of context, Republicans. President Trump appeared to shove a NATO official during his recent trip. Just look at Trump's eyes, he was hungry to be first in line.
Let's see if Tom Hanks could pump out 10 stories in one hour: Hanks and director Steven Spielberg were spotted inside the Washington Post's newsroom ahead of the release of the movie Pentagon Papers. Hanks should have come by TheStreet's office -- I personally would have showed him how to dissect dying Sears Holdings Corp.'s (SHLD) income statement in two seconds, and then put out a story within five minutes that goes viral. Hey, it's a skill, people.
Daily Apple meat for fanboys: A new report from Economic Daily News says that the Apple (AAPL) - Get Report iPhone 8 will use a new optical fingerprint sensor technology to enable users to place their fingers directly on the screen and have the phone scan the print. So yes, the good old home button is dead.
Fun, but telling photo: The future of the mall will probably have a Costco inside the former Macy's (M) - Get Report store and hospital in the one-time J.C. Penney (JCP) - Get Report location. Oh, and a Tesla (TSLA) - Get Report dealership inside and superchargers in the parking lot. Car makers such as Ford (F) - Get Report and General Motors (GM) - Get Report should be following Tesla's lead and get into top malls with electric car showrooms. People need education on these things, and the mall setting is a good one for that (and the lease is unlikely to cost too much).
TheStreet recently wrote about this trend here.
Meet the Millennial Media Moguls
Planning to be in New York on Tuesday, June 13? You're invited to join us for an evening of cocktails and conversation with three dynamic young CEOs whose companies have found big news audiences and good markets. How have they done it? What have they learned? Meet Chris Altchek, CEO and co-founder of Mic; Shafqat Islam, co-founder and CEO of NewsCred; and Kathryn Minshew, the CEO and co-founder of TheMuse. Our panel discussion will be led by Ken Doctor, media analyst and columnist for TheStreet. The event, from 6 to 8 p.m. is free, but space is limited and reservations are required. Please click here to RSVP and get more information.
This article originally appeared on May 26 at 07:50 ET on Real Money, our premium site for active traders. Click here to get great columns like this from Jim Cramer and other writers even earlier in the trading day.
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