Hey fam!

​Fall days, bright sun and cool wind and pumpkin spice (can't believe people actually like it 🤢)

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Here's what's interesting...

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→ Developed world buying back their old discarded clothing.

→ AI is boosting side hustle income (by a lot).

→ The Not-So-Magnificent 493.

→ Family offices no longer prioritizing family.

→ Deals Corner.

→ The most successful movie of all time, and more...

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Let's go...

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This is genius!

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Last year, Megapaca in Guatemala imported 250 million pounds of used clothing.

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They've come up with data-driven algorithms and use a Dutch Auction process. The result is an 80% sell-through rate! For comparison, a US thrift store sell-through rate is about 21%.

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They can determine what's trending in different parts of the world. What are people wearing, and how much are they paying?

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The items are priced accordingly and sent to its stores in that region, mostly in Latin America but has now expanded to countries like Australia, and $200M in revenue coming back from discarded clothes.

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Now they plan to set up a US online store, but at first, targeting Latin American expats living in the US.

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Remember that scene in Fight Club when they steal human fat from a liposuction clinic to make soap and were selling rich people their "fat a$$es back to them?"

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Kinda like that 😜

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→ Read: The Massive Guatemalan Operation That Wants to Sell Americans Their Old Clothes Back (non-paywall version here)

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🗞️ BUSINESS & FINANCEY STUFF

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🤑 Can the "Magnificent 7" keep up the pace? (or can the Not-So-Magnificent 493 do anything?) The S&P 500's team of seven including Nvidia and Tesla, are dominating with 28% of the market cap. They've grown at ridiculous speeds, so where (or how) does it end? (some claim not well).

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🤑 Ai is the new side hustle king. Some people are seriously harnessing the power of Ai to pad their wallets. An AlphaWise survey shows gig-earners’ income boosted is 21% by using Generative AI tools versus those not. A big change from just a year and a half ago when the report was all about crypto and blockchain. (non-paywall version)

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🤑 Institutional investors traditionally have *LOVED* PE's long-term benefits, but they're finding it increasingly hard to ignore private credit.

🤑 Private Equity has a bad look right now. Many see them as vultures banking at the expense of employees. PE firm KKR is trying to change that while winning at the same time. Simon & Schuster employees are getting a piece of the company's ownership after a KKR acquisition; they aim to boost engagement and innovation among the staff.

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🤑 Staying out of the market might save you from short-term losses, but it could mean missing out on big gains. Sidestepping market dips feels nice, but it really means you might miss out on the wealth-building part.

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🤑 And right on cue after they place their bet, FTC and multiple states sue Amazon for creating a monopoly, forcing sellers to stay on their platform and punishing them if they offer better deals elsewhere. (non-paywall version)

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🤑 Da na na na Inspector Ginsler🕵️ out collecting private messages from WhatsApp and Signal looking for rule breakers and anyone to stick with a fine $$.

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🤑 It's not Ai, not fear of another pandemic, nor another Wall Street crisis. So, what is the biggest fear for CFOs?
Government regulation.

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🤑 Once upon a time, family offices were all about...the family. Now? Not so much. Almost 75% say they are prioritizing wealth over "the family."

🤑 Howard Marks tellin' like it is..."Investors make money for themselves. Day traders make money for their brokers."

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Here’s what he has to say about this in his book, The Most Important Thing:

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🖥️ The Extras

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♦︎ Is there a loneliness epidemic? Was it COVID? Some can turn solitude into masterpieces, but loneliness has been referred to as a health crisis and a National Strategy to Advance Social Connection has now been launched.

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♦︎ Spotify is toying with voice capture Ai to use podcasters real voice samples to translate them into other languages.

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♦︎ Just for fun, what is the most successful movie of all time? How would you figure it out? Gross box office or ROI? This is surprisingly fun to look at and the interactive chart is very cool.

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♦︎ Most Ai tool landing pages are sh*t at telling us what they actually do. This one is no different, but I can see Chromox being useful for creators. A prompt will generate a short clip. Here's what you get when you prompt - "A panda taking a selfie."

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🤝 DEAL CORNER

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MEMBERS ONLY👇

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

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Get in now at the current prices. The private membership community is set for a huuuge change - AND we'll finally be open to new members for the first time in a looong time! Come rub virtual shoulders with the best!

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We're close, seeerrrioussly close!

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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 within a few weeks! If you're on the waitlist already - keep an eye on your inbox!

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

• One of Travis' companies gets some love in Forbes.
• Mike gives a heads up on tax changes looming in Thailand impacting foreign income.
• Reactions from FTC lawsuit against Amazon.
• ​ChatGPT can now see (hear & speak)!
• Some book recommendations in the SciFi/Ai space.
• Dustin gets advice on just avoiding FTX melee but potential clawback.

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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.