🔥The roof, the roof, the roof is on fire!

(insert debt ceiling for roof)

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Hello all, welcome to another Thursday! In this issue...

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• Berkshire Hathaway's annual shareholder meeting
• Demand for Palantir's Ai platform is white hot
• Office building being sold at pennies on the dollar
• Sam Altman broke all the rules but still turned OpenAi into a $30B company

Let's get into it...

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Tends of thousands of disciples made their annual pilgrimage to Omaha, 'The Gateway to the West', to share some air with Warren Buffet and Charlie Munger at Berkshire Hathaway's shareholder event.

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Topics varied from the bank crisis, to pumping their insurance business, and putting a stop to any notion that they may make a move to fully control Occidental Petroleum.

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He also made some dire predictions about Ai with an eerie comparison to the Atom bomb's unintended consequences, echoing Einstein by saying "this will change everything in the world except how [we] think and behave."

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Munger had a more relaxed tone "Personally, I am skeptical of some of the hype that's going into artificial intelligence. I think old-fashioned intelligence works pretty well." Of course he does - he's 99 years old!

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​Read more​

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🗞️ BUSINESS & FINANCE STUFF

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🤑 “How much of the bad news is already reflected in market prices?” Some investors are wearing mud-colored glasses and can't see the positives: low unemployment, high earnings, and near-record consumer spending. Instead many find themselves looking for a catastrophic diagnosis for the market.

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🤑 Is the U.S. going to go broke? The U.S. debt is once again in danger of defaulting, which will cause an economic meltdown if it does. Biden and McCarthy are struggling to reach a deal, and economists and investors are freaking out.

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🤑 Pimco founder Bill Gross seems pretty confident the debt crisis will be resolved as it always has, and advises investors to buy short-term US Treasurys, as yields on 1- and 2-month bills have spiked due to fears of a US debt default. How confident are you?

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🤑 Palantir is experiencing "unprecedented" demand for its Ai Platform designed for militaries to use for battlefield intelligence and decision-making. Palantir's CEO called the platform "a weapon that will allow you to win" and the company is refocusing resources around AI to meet the demand.

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🤑 Snitches get riches. It'll be juicy when and if the 'who' and 'what' are ever revealed - SEC Awards Largest Ever Whistleblower Payout, a cool $279M

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🤑 Sam Altman broke his own rules with OpenAI. He used very little of his own advice from his YCombinator days. They took over 4 years to launch a product without knowing who its customers were going to be OR what they would use its technology for.

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🤑 Grit Capital CEO, Genevieve Roch-Decter, drops some serious bank deposit interest rate perspective on us...

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Genevieve Roch-Decter, CFA @GRDecter Credit: @KobeissiLetter Genevieve Roch-Decter, CFA @GRDecter Good Morning Everyone! Here is the interest rate you will earn on your bank deposit:  - Wells Fargo: 0.15% - Citibank: 0.05% - Chase: 0.01% Meanwhile, you can earn 5% on money market fund. Do what you will with this information. May 9th 2023 7 Retweets 81 Likes

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🤑 Too slow to adapt and stay relevant, Jenny Craig is out of business after 40 years. They ran out of money trying to find a buyer with no luck - enter the age of miracle drugs like Ozempic.

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🤑 BlackRock is ditching the ol' 60/40. Not everyone will agree with their stance, but the world's largest asset manager believes the classic stock and bond relationship is broken, and central banks are unlikely to help in a recession. It's advising investors to adopt a more agile approach including buying more defensive stocks and going heavy on inflation-linked bonds.

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🤑 "Berkshire Hathaway has $103 billion in short-term treasuries Warren Buffet will make more money from treasuries than most public companies make from ALL operations..."

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🤑 Bye bye Bar Codes. Industry is moving from the classic UPC barcode to 2D barcodes to meet growing demands for greater transparency, traceability, authentication, better inventory management, and brand trust.

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🖥️ Ai STUFF AND COOL TOOLS

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♦︎ IBM and PayPal plan to leverage AI to operate more efficiently and lower costs. The companies expects AI, combined with unique data, will drive efficiencies and unique value propositions for its customers.

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♦︎ Nemerous.ai can categorize and create formulas from plain text right inside Excel or Google Sheets.

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♦︎ Browse.ai can monitor any website for things like pricing, scrape and download data, and even turn it into an API.

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🏠 REAL ESTATE STUFF

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🏠 Zooming in: Of the 295 regional markets studied, 200 are up or flat YoY. While western states are seeing big declines in sales prices, markets in the Midwest and Northeast are doing fine.

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🏢 A downtown San Francisco office building sells for a stupid low price, but the developer still took a huge risk and could be hung with red tape.

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🏢 Meanwhile, similar stories of record low CRE prices in New York...

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Multifamily Madness @MultifamilyMad 95-Unit building in Turtle Bay in New York sold for a 90% discount. Traded at $69M in 2014 Valued at $125M in 2016 Traded at $13M in 2023 $81M loan matured and sent the property into foreclosure…wild. May 8th 2023 113 Retweets 713 Likes

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🤣 A DASH OF HUMOR

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🤷‍♂️ Canada has crowned Windsor, Ontario, the border city of 235,000 people the 'Karen capital' of the country. The study found 64.83 Karen reports per 100,00 households. Hit reply and let us know where the Karen capital would be in your city, state, region, country!

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MEMBERS ONLY👇

Not a member? Fix that and join the waitlist here.​

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💣 BIG changes are coming to the membership community this summer! Members stay tuned for updates and watch your inbox in the coming weeks. If you're not a member click the link above and get on the waitlist now, as we'll be opening to new members very soon!

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Great chats and threads from the Discord you may have missed…

• ​Matthew dropped in an investment opportunity in a successful ecom brand.
• Travis kicked off an airing of dirty laundry of sorts, with others also admitting getting sucked into another shitcoin season.
• If you're a domain investor, Tony dropped a nice piece of value at the tail end of a convo on how your CPA can classify proceeds from a sale.
• An absolutely EPIC value drop from Nigel on open rates on emails.​
• Some suggestions from the group on different Ai voice over options.
• Nice article dropped in by Travis if you're interested (still) in bank collapse perspectives.
• The community weighs in with thoughts on Kennedy 2024, and Brent's comment wins.

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In the forum...

• ​The Marketplace is updated every week with new curated online business acquisition deals - Saas, Websites, Apps, Agencies, & Ecom businesses.
• Members can access recordings of all our Fireside Chats anytime here.
• More calls with guests are coming up so stay tuned, and if you think someone would make an epic guest, or there's a topic you'd like to suggest, hit reply and let us know.

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Disclaimer: 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.​
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