GDP testimonials about Lula 3, Musk’s ideas for Twitter and what matters in the market

ANDsta is the edition of newsletterr FolhaMercado this Monday (31). want to receive it from monday to Friday at 7 am In your email? Sign up below:

GDP quotes about Lula 3

After Lula’s (PT) victory and his first speech after being elected (read the full text here), the Sheet was listening to different sectors of the economy that evaluated the result of the election, the content of the PT’s speech and what they expect for his third term.

Read below excerpts of testimonials from economists, entrepreneurs and financial market agents.

Economists:

• Arminio Fragaformer BC president and columnist for Sheet: “The victory [de Lula] it was a great relief, and the speech was inspiring, complete, of immense relief, and that mirrors a constructive attitude of union with the search for convergence”. I would say he surpassed himself.”

• Elena Landauwho coordinated the economic plan of Simone Tebet (MDB): “[Lula deve] To actually set up a coalition government, seeking harmony in relations with Congress, and implement an economic program where fiscal responsibility is the basis for socio-environmental responsibility.”

• Edmar Bacha, one of the fathers of Plano Real: “Everything in the speech was very good, but especially the beginning, in which he says that it was not a victory for the PT, but for the democratic alliance. The direct mention of Simone [Tebet] points to the future”.

Entrepreneurs:

• Fabio Barbosapresident of Natura&Co.: “The number 1 priority now is to detail its economic program, define the names of the economic team and how it will address the fiscal issue”.

• Roberto Klabinshareholder of the pulp and paper manufacturer Klabin: “It was the first time I voted for Lula and the PT. I voted to ensure that Brazil remains a democracy and manages to reverse the devastation of the environment.”

• Antonio Carlos Pipponzichairman of the board of Raia Drogasil: “Lula will need to use his leadership skills to pacify the country. Some choices will be very important for this to happen, especially in the economy, agriculture and the environment”.

In the market:

• Ricardo Lacerdafrom BR Partners, who declared his vote for Bolsonaro in the 2nd round: “The president-elect was supported by a wide range of renowned economists. The market will now want to know if they will have any influence on the new government or if Lula will be guided by the program of PT”.

• Luiz Fernando Figueiredopresident of Mauá Capital and former director of the BC: “There is uncertainty in the air. Let’s see if, in the coming days, this uncertainty decreases. The big problem is that we have a vulnerability, because we have a very large debt”.

Lula’s first challenge

Once the elections are over, Lula and his team will have among their first steps in the economy the challenge of making political articulations that allow for a concrete solution for the 2023 Budget.

Understand: the text sent to Congress does not provide for the BRL 600 – which would cost BRL 52.5 billion more in relation to the R$ 405 benefit that is in the proposal – nor other expenses, such as readjustments for civil servants and a real increase (above inflation) for the minimum wage.

The tasks in the Economy

– The transition: It is time to start forming the team, and the cadres assigned to the economy receive special attention from the market, because they indicate how the agenda will be conducted during the term. The PT has at least two names taken for granted to participate in the transition:

• The party’s president, Gleisi Hoffmann, one of those listed for the Ministry of Planning, which will be recreated.

• Federal deputy Alexandre Padilha (PT-SP), who is quoted to command the Ministry of Finance.

– License to spend: to get the projected new expenditures into the Budget, Congress will have to pass a license to spend.

• Certain members of the PT say that the additional amount must be above BRL 200 billionmore than the R$ 100 billion defended by some houses in the financial market.

• Bráulio Borges and Manoel Pires, from FGV, estimated a potential cost of R$ 125 billion with extra expenses (among them the R$ 600 of the Aid, the readjustment of the servers and the review of expenses for the cost of the machine and investments).

– New tax anchor: additional expenses will not fit into the spending ceiling, a mechanism whose reform was cited by all presidential candidates.

• He suggests a mechanism in which the president-elect will define, in his first year in office, what the level of spending should be for the coming years.

In addition to changing the Budgetthe Lula 3 government will need structural reforms in the fight against poverty, said live columnists from Sheet.

What is known of Twitter under Musk

What will Twitter look like now under Elon Musk?

From what the billionaire has already spoken publicly – or tweeted – and told investors, the network will have a leaner workforce, seek other forms of income besides advertising and will have a council to define content moderation policies.

In concrete terms, Musk fired the CEO, CFO and other high-ranking employees of the social network, but said he will not have a position in the direction of the platform.

Under new management. What is known so far:

– Employees: Twitter’s new boss asked managers for lists of employees who could be fired, the New York Times learned. Twitter has approx. 7,500 employees

• The network’s work culture, known for being one of the most flexible in Silicon Valley, with home office and other benefits, must end.

– Financially: Musk promised the banks that financed the purchase to quintuple revenues by 2028, to $26.4 billionand reach 931 million of users, against 238 million of today.

• Twitter is a network that has lagged behind the others, and the billionaire has already said that his idea is to make it an “app for everything”: something similar to Chinese superapps, in which it is possible to send messages, make purchases, pay or order taxis in one place.

Policies for Content and Users: he said he plans to form a board to deal with content issues and will not immediately reinstate users who have been suspended.

• Musk also wants to raise the price of Twitter Blue, the platform’s subscription plan, from $4.99 to $19.99 and give subscribers a verified badge, according to The Verge.

More on Twitter under new ownership:

• The most important fact about the billionaire’s takeover of Twitter is that the moguls are now on the loose, analyzes Pulitzer Prize-winning David Streitfeld who has written about technology for more than 20 years.

Startup of the Week: Liv Up

The “Startup of the Week” board brings on Mondays the x-ray of a startup that recently received funding.

The startup: founded in 2016, in São Paulo, it started with a portfolio of frozen ready-to-eat foods and today it also delivers healthy meals, fruits and vegetables, snacks and desserts.

In numbers: the startup announced last week that it had received a $5 million (R$ 26.7 million) in a series D round extension that had already raised US$ 44 million (R$ 235 million) last year (understand the stages of investment in startups here).

• Altogether, the company has already captured US$ 78.2 million (R$ 417.9 million), according to the Sling Hub platform.

Investors: Last week’s contribution was made by Minerva Foods and the round was attended by Lofoten Capital, Kaszek Ventures, ThornTree Capital and Globo Ventures.

What problem does it solve: Liv Up connects farmers to the final consumer and offers personalized menus, such as food kits without red meat, low carb (low carbs), etc.

Why it’s featured: in addition to the startup having registered one of the largest fundraising in Brazil in the last week, the investment is an important capital injection at this time of high interest rates and little money in the market for startups.

• In February, Liv Up laid off about 100 employees, about 15% of the workforce, according to the Startups website.

The week at a glance

There were 12 funding rounds in Latin America, with US$ 48.5 millions (R$ 259 million) in investments. The biggest were Colombian foodtech Muncher (US$18.9 million, or R$100 million) and Mexican fintech Mattilda (US$10 million, or R$53.4 million).

The data was provided by the Sling Hub platform.