Good week to you dear friends,

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Here's what's in this week's issue...

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→ Google made some baaaaad decisions.

→ Why people see inflation so differently.

→ Small checks are winning🥇

→ FTCs new non-compete ban.

→ Investing in energy, where your RE returns are really coming from & more.

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If you took 1000 rich people and 1000 poor people,

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reset everything to zero to level the playing field.

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Gave everyone, say, $50k.

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My bet would be most rich people would become rich again, and most poor people would be broke again.

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Am I wrong?

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Imagine this for a second.

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Wealth isn’t just about the cash and stuff you’ve got but how you handle it, who, and what, you know.

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It isn’t just about being good with numbers; it's about leveraging.

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In the same way giving a homeless person a home doesn't solve anything long term, giving a broke person money won't help long term either.

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People either have what it takes, or they have what it takes to find a way to get close to the people who can help them get there, or they don't.

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This is to say it's more psychological than socioeconomic factors.

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As always, happy to have my mind changed.

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Hit reply and let me know your take!

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ENTREPRENEUR-INVESTOR READS

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🤑 The extent to which Google's management prioritized revenue growth over the quality and integrity is shocking, and kind of explains a lot. This hyper-focus on growth and profitability over UX, led to leadership changes and a huge decline in quality.

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🤑 Always check the real source of your returns. Real estate investment deals can be tricky. Is the money coming from real earnings or just shuffled funds? Understanding how returns are distributed and what influences them will help you see if your investment is genuinely paying off or if future gains might not be as good as they seem.

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🤑 People's impression of recession is so different because inflation hits everyone differently—it's harder on people renting or buying big things, but not as hard on those with steady home loans. Wages are up for some, but so are prices making these increases seem small. This makes people doubt the official inflation numbers.

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🤑 Spreading the love. Small investments (under $25k) made up 41% of the checks in pre-seed rounds. SAFEs (Simple Agreement for Future Equity) "are now the preferred investment instrument for all rounds under $3 million."

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🤑 Facts alone don't change people's minds. It's our relationships that have the bigger impact. To really change someone's mind, it helps more to make them feel part of a group where they can safely consider and possibly adopt new ideas. Another gem from James Clear.

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🤑 The FTC's new rule against noncompetes is meant to spark innovation with 29,000 patents and start over 8,500 new businesses each year. How many of these will be ripped off ideas? What will this do to M&A where negotiating teams are employees of firms? Legal challenges coming for sure.

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🤑 The 5-Year Rules associated with Roth IRAs for anyone looking to access their retirement funds early without facing penalties. A breakdown of the specific conditions and timelines of each rule.

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🤑 Investing in energy. There's huge demand for energy, and it's increasing. What are the benefits of renewables against the challenges posed by strict global regulations and tough permitting processes? How to make good investment choices in the energy sector.

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🤑 Don't neglect the customer who's not quite ready. Most businesses chase the few customers ready to buy now, ignoring the many who aren't ready yet. By nurturing those relationships, you become the go-to choice when these potential customers decide to buy. Instead of rushing for quick sales, focus on long-term connections.

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Continues below...

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LIGHTNING ROUND

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⚡️ Family offices are looking beyond the stock market for higher returns.​

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⚡️ Binance founder Changpeng Zhao gets 4 months in the slammer.

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⚡️ Tesla's dominance is waning.

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⚡️ Ukraine's foreign ministry has a new spokesperson - and it's an Ai bot.​

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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.