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Greetings folks, I hope you are enjoying a fab week, here's what's goin' on...

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• The Federal Home Loan Bank is propping up banks
• Ai can read your mind
• Without big tech, S&P 500 is up exactly 0%
• No apologies from collapsed crypto hedge fund founders, and they're at it again
• PE and VC-backed companies are in a pickle

Here we go....

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How is it that the Federal Home Loan Bank (FHLB) system, originally meant to assist homebuyers, has morphed into a cash machine for banks?

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The regional banks, who cater to venture capitalists, tech startups, and crypto platforms, have been leaning on the FHLBs for billions of dollars in funding, despite their minimal involvement in mortgage lending.

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Big players like Wells Fargo, JPMorgan Chase, and Citigroup have also hopped on the FHLB bandwagon, despite scaling back their mortgage operations.

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With this, the FHLBs have ballooned to $1.5 trillion, raking in massive profits and rewarding their executives (obviously).

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You could say the FHLB system should stick to its mission of funding new mortgages and promoting housing affordability. Orrrrr, you could say its ability to be a safety net and provide fast cash during a huge financial crisis is critical.

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But propping up banks instead of helping homebuyers is a bit of a head scratcher, so what do you think?

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Hit reply and let us know!
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🗞️ BUSINESS & FINANCEY STUFF

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🤑 PE and VC-owned companies are facing some serious issues with rising debt costs, compressed margins, and negative cash flow. The financial health of these companies is not looking good, they are trading way to high and will be disappointed on exit.

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Tom Gara @tomgara It's the pinnacle of private equity brain to take Instant Pot, one of the the simplest, most no-drama businesses of all time, and somehow turn it into a $500 million bankruptcy https://www.wsj.com/articles/instant-pots-slower-sales-tip-gadget-maker-into-bankruptcy-1ef2c7d1 wsj.com Instant Pot’s Slower Sales Tip Gadget Maker I... Kitchenware manufacturer Instant Brands will seek to fix its balance sheet in ch... 9:30 AM • Jun 13, 2023 2729 Retweets 16661 Likes Read 190 replies

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🤑 Did Tesla just add $3B in revenue? GM has joined Ford in partnering with Tesla to access its charging network for EVs solidifying Tesla's position as the industry standard for charging.

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🤑 Like an episode of Succession - George Soros hands the empire over to his son, after originally saying none of his children would ever take over - sound familiar TV fans?

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🤑 The biggest players bring in the biggest rewards. The S&P 500 is up 11% this year, but if we remove the seven superstar stocks from the equation, we're left with a gain of a big fat zero.

🤑 Kyle Roof, Karl Kangur, Timo Porval and Travis Jamison are putting on the first ever SEO conference in Estonia this August 16-18. Looking like a killer lineup. (ticket prices going up soon)

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🤑 Why Investing in the S&P 500 is not diversification. The top-10 companies make up 35% of the entire market cap of the index.
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🤑 Escape. Surf. Re-group. Meditate. Dominate. Seems like a logical plan for the founders of 3AC, the crypto hedge fund that imploded in spectacular fashion. Still, with a $3.3 billion I.O.U. and no apology, they're at it again with Open Exchange, a marketplace for traders who lost money in the crypto meltdown! (Hint: drop the link in removepaywall.com)

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🤑 The cookie keeps crumbling, eToro will delist Algorand, Decentraland, Dash, and Polygon for its U.S. customers starting July 12. This follows Robinhood after they punted Solana, Cardano and Polygon.

🤑 Housing inflation has to break at some point right?
The lag in the CPI data collection and the slowing of housing costs may indicate a reversal is on the horizon, and some economists are confident that housing inflation will decline in the second half of the year.

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🤑 Another massive pothole in the road for Google, but might be a biiiig deal for the ad industry in general​ - regs in the EU are slapping a huge antitrust suit (adding to US and UK) where it might force Google to sell off parts of its ad-tech business and break up its digital ads monopoly.

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​🤑 Would you rather 10,000,000 followers or $10,000,000? Andrew Wilkinson says he'd rather have 10M followers than $10M and a following creates a "Personal Monopoly' that provides a profound advantage - do you agree?

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🖥️ Ai STUFF AND COOL TOOLS

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♦︎ What the actual F--? The list of things Ai can't do is getting shorter by the second, this is insane! Ai can read your mind and produce images of what you're looking at by decoding MRI scans.

♦︎ The usechatgpt.ai Chrome extension is pretty slick for quick rewrites, tone changes and summaries on the go.

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♦︎ 10web seems to be crushing it and turning into a complete one-stop package complete with name generator, migration, SEO, hosting and web design tools.

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♦︎ Gamma is a quick solution for pitch decks and presentation slides taking all the cumbersome design and formatting work out. Here's a quick tutorial.

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MEMBERS ONLY👇

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

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💣 ICYMI - It's getting closer! Yuuuge changes, are coming to the membership community this summer! Announcements coming very soon!

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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…

• A couple acquisitions to highlight in our community, well one acquisition, and one exit - congrats both!
• Matthew posted a time sensitive investment opportunity.
• Sam shared a cool looking Ai tool.
• Matthew dropped an article on what makes up 80% of the crypto market cap.
• Mohit let us know what deals BlackBook is looking for.

In the forum...

• Come chat with Travis! June 22nd, watch your email & Discord for links.
• The Marketplace is updated every week with new curated online business acquisition deals - Saas, Websites, Apps, Agencies, & Ecom businesses.
• Periodically Travis will host a guest in a 'Fireside' chat - Members can access recordings of all our Fireside Chats anytime here.​

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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. There will also be affiliate links in here from time to time because we like free money.​

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