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Hey folks, here's what's up this week:

• Being a CEO is overrated
• TikTok wants to create a platform selling made-in-China stuff in the US
• Is selling durable products a bad business model?
• The lottery is funding America
• New Ai tools & news, and more...

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Thinking of selling your business? Get your books done by a professional.

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Not thinking of selling your business? Get your books done by a professional.

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I see too many businesses go to market to sell their business without a quality set of books to back up their profitability claims.

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The reality is, when due diligence is done on a business for investment on ANY level, the story the books tell will largely will decide the outcome.

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When you sell a business on any meaningful level, a buyer's finance team will build their own P&L and compare with the one supplied by the seller's team. If they match, or are close, great, if they don't, big problem. If that's the case, they will use their version of the P&L as the basis for everything else moving forward, and you will undoubtedly be leaving money on the table.

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There are so many moving parts to a business, and most entrepreneurs are not financial experts, yet I see so many cut this corner.

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Even if you have no plans to sell in the near future, a business prepared for investment from day one, is a better, more efficient business.

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Did you know?

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🗞️ BUSINESS & FINANCEY STUFF

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🤑 Many investors get hung up on comparing the valuation metrics of today vs those of the past. But are they the same?

This article makes good points on how modern investors may (unknowingly) accept higher valuations and lower future returns, challenging the relevance of traditional stock market valuation methods. Is the traditional way of valuing the stock market outdated?

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🤑 Being a CEO is overrated, and being a chairperson doesn't mean you drive! Know when to hand over the keys, never waste a good crisis, and other lessons shared from the co-Founder and former CEO at HubSpot.

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🤑 Just what we all needed! TikTok is launching an e-commerce platform to sell made-in-China things in the US. I feel like we already have one or two platforms already, and I get the feeling there are some that will not be happy about this!

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🤑 Quarter-point increase coming means yields on savings may become sexier- lock in those CD rates but pay attention to those maturity dates.

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🤑 Bull market continues. Investors are hesitant, fund managers are still hoarding loads of cash, and strategists are bearish, but prices keep hitting highs. Bulls eagerly wait for investors to add, lotta cash out there.

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🤑 Typical interest rate policies might not be the best solution right now. Take a look at the world of fiscal dominance and its impact on inflation.

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🤑 A Distribution Layer is changing the future of alternative investments because it needs it. A buffer layer of capital allocators sitting between investment managers and investors with new strategies, new skills, and new firms.

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🤑 Growing up, there were appliances in my house that were 30 years old and still working. Today, that's rare and it should be no surprise as to why. How would a brand survive today with high production costs and no need for replacement?

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🤑 Not just gambling. Lotteries have been a key funding source for America since its inception in 1616. It has financed institutions, settlements, and public services, making it a significant aspect of American culture and business.

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🤑 If you're looking at an investment acquisition, or buying a job, or no matter how many deals you do, stay true to the basics, or at least know the rules before you break them...

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Codie Sanchez @Codie_Sanchez I've done 75+ deals over the course of my career, and reviewed 100+ others' deals. There have been big winners (& royal f*ups). 10 commandments for your first business: 9:34 AM • Jul 22, 2023 90 Retweets 583 Likes Read 36 replies

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🤑 Vanguard has been a darling fund giant in the States, now they're trying to expand and apply the same business model in other markets, and Europe ain't havin' it. ​

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🤑 Alternative asset classes for the (asset accumulation) win! Even with some strong declines, Blackstone reaches the 4 comma club with +$1T AUM.​

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​🤑 JP Morgan and Goldman Sachs are not seeing eye to eye. JPM sees no real evidence of AI significantly boosting corporate earnings and market values simply driven by fascination - meaning bubble is going to burst...soon. Goldman Sachs say bog gains mean a big rally.

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🖥️ Ai STUFF AND COOL TOOLS

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♦︎ Machined.ai is a content cluster machine that creates SEO content at scale, and interlinks the content for you.
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♦︎ KeyboardAi is a ChatGPT keyboard on your phone so you can harness Ai for writing social media posts on the go, important text messages, etc without having to switch apps.

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♦︎ Runway Gen-2 looks siiiiiiiiick, so many awful uses for this but I can't wait to see where tech like this will lead...

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Javi Lopez ⛩️ @javilopen 🔴 Runway Gen-2 image to video has been released! We are now one step closer to being able to create our own movies! Here are my top 10 generations I've crafted in the last 48 hours from my very own experiments! 11:3 AM • Jul 24, 2023 226 Retweets 1098 Likes Read 61 replies

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MEMBERS ONLY👇

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

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⚡️ ICYMI - It's soooooo close! Getting the last few items checked off the list, restocking the bar, and hanging the streamers.

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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…

• Travis gives the group a glimpse of his investment thesis.
• There is a little bit of room for investors in a personal training studio deal.
• Andrew gives us some perspective on the challenges of building a chatbot.
• ICYMI on Twitter Xitter 'X' Dom set up an AMA on a recent acquisition, great Q&A
• Dave drops in a piece about a guy in Florida dead set on making enemies! "It's normal real estate development."
• Discussion changes from saunas to concerning self-storage trends.

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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.
• 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.