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Together With:

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Hi there, 👋

You've seen bizarre statements from Elon Musk before, but his latest tweet has rocked Tesla investors and Musk fans alike.
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Social media users raced to Twitter faster than a Falcon rocket when Musk polled the public to ask whether he should sell 10% of his Tesla stock. That's around $21 billion in share value.
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While we believe that Tesla stock is overvalued, what does this move say about his attitude towards investors, shareholders, and the company as a whole?
The most likely explanation for Musk's move is his looming - and enormous - tax bill.

Main stories:

1. A wash trade
2. Coinbase catch

In the snippets:

• A16z pre-empts deal
• Blockchain city
• PE funds for mom and pop investors
• Una Brand ecommerce aggregator raises

And cool tools too:)
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As always, thanks for being here.
Juliet Lyall
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​P.S. Applications for our new-look community will open up again soon. Watch out for news on how to join a group of active investors who share their knowledge, deal info, and have fun in our Discord channel.
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NFT Wash Trade

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Last Monday, we mentioned this $500M NFT stunt. It made us wonder whether the transaction would qualify as wash trading.
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​When someone acts as both the buyer and seller, feeds misleading information to the market, and hopes to manipulate prices, then isn't the sale a wash trade?
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The following excerpt from Matt Levine's Money Stuff caught our eye because he touches on that crazy NFT sale in the last sentence of his post.

An important mechanism to remember is:

1. You create a new cryptocurrency, WashCoin.
2. You mint a trillion WashCoins and put them in your crypto wallet along with $2 of Ethereum.
3. How much are your trillion WashCoins worth? I mean, zero dollars, right?
4. You open another crypto wallet and put another $1 worth of Ethereum in it.
5. You send the $1 of ETH from the second wallet to the first in exchange for one WashCoin.
6. The next day, you send $2 of ETH from your first wallet back to the second in exchange for that one WashCoin.
7. Now the trading price of a WashCoin is $2, so its total market capitalization is $2 trillion, up 100% in the last 24 hours.
8. You still own 100% of the WashCoins and nobody has paid you anything for them.
9. But, now that the market cap is $2 trillion and soaring, somebody might.

Is this legal? In the stock market, no, of course not; it is “wash trading.”
Is it legal in the crypto market? I dunno man, it’s crypto.
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Does this describe all of crypto? No, of course not, Bitcoin trading is pretty much all independent economic activity and very little wash trading at all.
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Does it describe … a certain amount … of crypto? Yes, absolutely.
If you see that a ridiculous non-fungible token sold for $500 million, should you just assume that the buyer was also the seller?
​Probably!
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AI Avatars

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Question: What do these sentences have in common:

• Angry Rick Sanchez Pixar character
• Kru is an old man, who looks like he hasn't had enough sleep for at least twenty years. He often has nightmares that make him scream so loud he wakes
• Impressionist painting of a dusty, grizzled old grave keeper

Answer: They are all text-based prompts entered by users of Artflow.
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​Artflow lets you generate portraits by entering a short text on their site.
Their machine learning system interprets your text into images.
Yes, it's all done by AI.
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Of course, natural language understanding still remains a challenging task in AI research so the results may not be quite what you imagine.
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If you're lacking a Bored Ape or CryptoPunk to flaunt in your Discord channel, on social media or your 'About' page, then write a descriptive prompt and see what Artflow produces.
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Hit reply and show us what you get!
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Note: It takes the program several minutes to generate an image.
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Random Tweet

Genius.​
Even your mother will understand this.

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Coinbase Catch

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Coinbase has started testing zero trading fees with a new product they've dubbed Coinbase One.
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A group of select customers can buy, sell, and convert digital currencies on the Coinbase platform without a Coinbase fee for each trade (spread fees still apply).

So it's free? Not so fast.
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Unless you're the only person on the planet who hasn't dived into crypto, you'll suspect there's a catch. And you're right.
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Users will pay a subscription fee (amount not announced) to access the commission-free trades.
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Coinbase’s interest in subscriptions could be an attempt to compete with rapidly growing competitors like Robinhood.
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​In short: With Coinbase One, you pay the spread, there's no commission, but you need to pay a subscription.
(We're confused about how this benefit users).
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We believe that Coinbase One may serve as a more predictable source of revenue.
Coinbase’s earnings report is due tomorrow - November 9th - and analysts are reportedly predicting a decline in Coinbase’s revenue thanks to Bitcoin’s second-quarter slump in value.
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Subscriptions could help to smooth out the revenue wrinkles for Coinbase.
Let's wait and see.
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Together With MicroAcquire
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MicroAcquire ❤️‘s Bootstrappers

MicroAcquire is now the top destination for bootstrapped startups and online businesses to list and sell.
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And they want everyone to know 👇👇
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(If you’re in Utah, check out the billboards Divvy put up in partnership with MicroAcquire.)

There are new listings vetted and posted on MicroAcquire almost every day.
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Here’s a preview of three recent entries:
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🛒 Profitable SaaS with $42,500 in ARR & $42,500 in TTM revenue that allows Shopify plus stores to create advanced discounts and shipping configurations.
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🗣 Profitable SaaS with $5,400 in ARR and $7,445 in TTM revenue that helps job seekers train for interviews.​
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💆‍♀️ Profitable Mobile App with $30,000 in TTM revenue that is a CBT-based self-help app to guide users towards less anxiety and a less stress-ridden life.​
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You can browse all the businesses with a free MicroAcquire buyer account.
Upgrade to a Premium subscription to engage with sellers and get access to all the inside information.
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👉 See All Listings​
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End the Bookmark Blackhole

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By default, Twitter bookmarks are a blackhole.

We save hundreds of amazing tweets and threads only to never see them again.
It’s not because we don’t want to, but because they are buried under every new amazing thread we discover.
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This is where Dewey comes in.
​Dewey makes it easy to search, organize, and share all your Twitter bookmarks.
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You can grab all of your existing Twitter Bookmarks and do this:

• Organize: Search, sort, tag, categorize, annotate, and export Twitter bookmarks
• Curate: Create collections of bookmarks so you remember why you saved them in the first place
• Share: Make your collection public and share them

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​Can't believe it's FREE.​
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Bonus Tool: A Bug Catcher

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Here's a clever tool for testing your web applications.
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​BugBug lets you catch bugs to ensure that your website or web app works and looks like it should - no coding skill required.
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You can create reliable tests just by recording your user journey on the web application. Their simple automated browser testing will save you time and money on DevOps costs.
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Free for private usage and open source. Plans start at € 69/month.
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Brought to You by Smash Digital​
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🦄 SEOs with Skin in the Game

​Smash Digital - a growth agency, filled to the brim with unicorn images and SEO memes. A team of SEOs with actual skin in the game, ranking their own portfolio of profitable businesses, and offering the exact same services to clients.

An agency with so much link juice you’ll need a mop and bucket to clean it all up.​

​Check. Them. Out.
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✅ Snippets to Send You on Your Way

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🔷 Step aside NFTs: Aqua wants to help mom-and-pop investors gain exposure to private equity funds, an investment vehicle that has traditionally been reserved for high net-worth individuals or institutional investors. Investors get access to opportunities with minimums of $10,000 - instead of a traditionally higher range between $250,000 and $25 million. The company points out that interest in alternative investing products has risen, which could draw people away from the S&P 500 and Cartoon Apes.
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🔷 Una Brands aggregator raises: The e-commerce aggregator focused on Asia-Pacific brands, announced today it has raised $15 million for its Series A. This comes 5 months after their launch. Una describes itself as “sector agnostic” because of the number of marketplaces used across APAC, including Tokopedia, Lazada, Shopee, Rakuten and eBay. Una looks for profitable brands that make between $1 million and $50 million in revenue per year.
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🔷 A16z pre-empts deal: Mythical Games, an LA-based NFT games startup, raised $150 million at a $1.25 billion valuation. Andreessen Horowitz (a16z) led. A16z Crypto has been minting plenty of NFT unicorns this year. So far they've backed NFT marketplace OpenSea, NBA Top Shot-maker Dapper Labs, and play-to-earn crypto game Axie Infinity. Mythical Games were not planning a raise, but were approached early by a16z, who appear to have pre-empted everybody else.
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🔷 Blockchain city: A bunch of crypto investors has bought a 40 acre plot of land in the north-western corner of Wyoming. Back in July, Wyoming passed a law legally recognizing Decentralized Autonomous Organizations, (DAOs) and CityDAO is officially the first DAO to own land using the new law. CityDAO is an experiment that pitches itself as "building a city on the Ethereum blockchain." They offer a basic form of citizenship through the purchase of one of 10,000 NFTs for .25 ETH.
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🔷 Moon money: Moonfare offers individual investors access to select private market funds. Last week, they announced that they had raised $125 million in Series C funding, led by New York-based global private equity and venture capital firm Insight Partners. Moonfare makes it possible for qualified individual investors to invest directly in top-tier private equity and venture capital funds at low minimums via a fast and easy-to-use digital experience.
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🕺 Start me up...again:

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