MARKETS UPDATE

• Jerome Powell announced yesterday that the Fed might choose to hike interest rates by less than 75 basis points when it meets in December. Markets had already priced in the likelihood of a 50 basis point hike in December at 65% due to slowing CPI inflation.

• Year-over-year inflation in the eurozone fell to 10% in November, declining for the first time since 2021.

• Morgan Stanley surveyed Tesla investors and concluded that Musk's Twitter involvement led to a 'negative sentiment momentum' in the stock, but says there is a window of buying opportunity. $TSLA is up 5% this week.

Chart of the day

Pending home sales fell for the fifth consecutive month, dropping 4.6% in October, leaving YoY sales down 37% (largest annual drop ever):

ONLINE BUSINESS UPDATE

• Originality.AI just launched, designed to detect AI content on website marketplace listings. It’s built by Spencer from Niche Pursuits and Jon from Website Income, AKA the team behind Motion Invest who will be incorporating AI content reports into their listing pages.

• The content site offering on Empire Flippers Capital Round 4 has just broken past its $1M target. Currently sitting at $1,031,619 funded, deal #8021 is lead by Mohit Tater from Black Book Investments who is seeking to acquire 2-5 content businesses. The raise will continue up to a maximum of $2M.

• There’s a new offering on Flippa Invest to Invest in TreasureHunter Fund I. Accredited investors are able to invest in a diversified portfolio of 4-6 profitable content websites. TreasureHunter’s aim is to 3x investor capital within a 3 year horizon, while paying out an asset-secured 15% quarterly dividend. $2M target raise, $10K minimum investment.

• Read how Kévin Jourdan from DotMarket went from affiliate marketer to building a successful European focussed website marketplace on discourse by Onfolio, interviewed by Goran Duskic. Kévin expanded into newsletters by acquiring Duuce, and is not convinced that affiliate sites, as we currently know them, will continue to make good money.

• This week’s ACQUIRE Deal Flow newsletter by Richard Patey featured 3 Aged & 6 Brandable Domains:

ACQUIRE

ACQUIRE Deal Flow: 3 Aged & 6 Brandable Domains

Hi there 👋, Last week’s poll on whether I should feature additional listings outside Flippa was unanimous: Let’s see what happens next, but for now we remain focussed… Although having said that, this week I’ve not picked any content sites as have run out of time before some great domains finish at auction, in the next hour…

Read more

2 days ago · 1 like · Richard Patey

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STARTUPS UPDATE

• Post News, an alternative to Twitter, just raised funding from a16z. The social network has 335,000 users on its waitlist, and 65,000 accounts have been activated. The platform describes itself as a place to access “premium news content without subscriptions or ads”. The idea is that this would allow users to pay for individual articles from a variety of news sources.

• Pearpop, a marketplace that connects brands with influencers, raised $18M at a $300M valuation. The CEO Cole Mason says the platform has over 200,000 creators who have collectively been paid over $10M. 

• DoorDash will cut 6% of its global workforce (~1200 employees) to cut operating expenses. Its share price jumped 4% on the news, but $DASH is down 2% today.

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CRYPTO / NFT UPDATE

• Tim Ferris announced on Twitter that the mint day for his NFT project CØCKPUNCH (yes really) is December 7th, followed by a reveal two days later.

• Crypto exchange Kraken announced it’s letting go of 1,100 employees due to “significantly lower trading volumes and fewer client sign-ups”.

• Telegram CEO Pavel Durov says the messaging app plans to build a decentralized crypto exchange and noncustodial wallets.

• Uniswap Labs launches its own NFT marketplace aggregator with listings from OpenSea, LooksRare, and others.

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REAL ESTATE UPDATE

• Morgan Stanley anticipates a 4% year-over-year gain in U.S. home prices by the end of 2022 as determined by the Case-Shiller Index. But, the investment bank projects that between June 2022 and the bottom in 2024, housing values will decline by almost 10% overall, up from its previously forecasted 7% decrease.

• A report from Knight Frank identified Dubai and Miami as the best luxury real estate markets for wealthy investors in 2023. They predict that prices will increase by 13.5% next year in Dubai, with an expected 5% increase for Miami.

• Airbnb will soon allow tenants to host apartments by partnering with landlords and management companies.

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Not financial, investing or tax advice. This newsletter is strictly for information, entertainment and education purposes. Nothing in here is investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your professional advisors. Do your own research.