Sep 13, 2021 Sign Up

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"Maybe they hate me because I’m too good." – Cristiano Ronaldo

Good morning! Hope y'all had a fantastic weekend. Inflation is wylin. The producer price index for final demand jumped 8.3% in August year over year, the strongest since recordkeeping began in November 2010. Match Group named Renate Nyborg as Tinder's first female chief executive officer following a breakup with Jim Lanzone, who is moving on to serve as the CEO of Yahoo.

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1. Story of the Day: Steph Curry Goes Crypto

Last week Steph Curry became the latest celebrity to tank the crypto market after Tom Brady's laser eyes picture tanked the market earlier in May. The culprit? Curry's tweet: “Just getting started in the crypto game...y'all got any advice??”

Curry recently entered into a partnership with the fast-growing digital-asset exchange FTX and said he wants to use cryptocurrencies as a socially conscious platform.

FTX, which was valued at $18 billion in its most recent round of fundraising, has announced a number of sports-related deals and partnerships in recent months. 

The Cal Golden Bears signed a 10-year, $17.5 million naming rights deal with the company just last month. In addition, the NBA’s Miami Heat play in FTX Arena and the company is also the official crypto exchange of Major League Baseball.

Steph Curry added: "And right now, it’s just about education... And understand there is a big community right now that is excited about what this will mean for democratizing financial institutions and how we do things. So it’s about educating the next generation."

Short Squeez Takeaway: With crypto reclaiming the $2 trillion market cap in August, it is no surprise that more celebrities are getting involved (and trying to make money from it). Every other day we have some celebrity pumping some random new coin. We can get behind Steph Curry changing his profile picture to that of the Bored Ape. (no more laser eyes pls)

Source: Bloomberg

2. Markets Rundown

• Stocks posted weekly losses as investors worried that the high number of delta variant cases may be slowing economic recovery, despite new vaccination mandates announced by President Joe Biden on Thursday night

Movers & Shakers

• (+) Affirm ($AFRM) +35% after fourth-quarter growth metrics dazzled investors.
• (+) Endo ($ENDP) +33% after it agreed to pay $50 million to resolve lawsuits by NY State and two counties over its sale and marketing of opioids.
• (–) Zumiez ($ZUMZ) -5% after releasing earnings – revenue fell short of the consensus view.
  

3. Top Reads

A Message from Sweater Ventures: The Venture Capital Fund for Everyone

Sweater is opening venture investing for everyday investors. 

The last decade has seen a rise of retail investors keen on taking investment power into their own hands. Every year, more technology and resources allow investors (like you!) to make well-informed decisions for where their money goes and how it grows.

But the most lucrative long-term investment strategy—venture capital—is still out of reach for the majority of investors, until now. 

Venture capital is no longer just a club for the uber wealthy—it’s our time to put stake in the companies we want and know will change the world. Sweater, the VC Fund for everyday investors is coming soon. 

Join the waitlist to find out more information*.

4. Book of the Day: The Everyday Hero Manifesto

For over twenty-five years, leadership legend and personal-mastery path-blazer Robin Sharma has mentored billionaires, business titans, professional-sports superstars and entertainment royalty via a revolutionary methodology that led them to accomplish rare-air results. 

In The Everyday Hero Manifesto you will discover the hidden habits used by many of the world’s most creative and successful people to realize their visionary ambitions, original techniques to turn fear into fuel, problems into power and past troubles into triumphs, a breakthrough blueprint to battle-proof yourself against distraction and procrastination so that you produce magic that dominates your domain and insights on adopting world-class routines that will lead you to achieve superhuman fitness and become the most disciplined person you know.

Part memoir of a life richly lived, part instruction manual for virtuoso-grade performance, and part handbook for spiritual freedom in an age of high-velocity change, The Everyday Hero Manifesto will completely transform your life. Forever.

5. Daily Visual: Big Tech Big Fines
Highest fines for breaching one or more articles of the GDPR (in million USD)

Source: Statista

6.  Daily Acumen: Experts Versus Elites

Elites are selected primarily for their prestige and status, which has many contributions, including money, looks, fame, charm, wit, positions of power, etc. Elites like to pretend they were selected for being experts at something, and they like to pretend their opinions are just reflecting what experts have said (“we believe the science!”). But they often lie; elite opinion often overrules expert opinion, especially on topics with strong moral colors. And elites are selected far more for prestige than expertise.

When an academic wins a Nobel prize, they have achieved a pinnacle of expertise. At which point they often start to write op-eds (opinion articles). They seem to be making a bid to become an elite. Because we all respect and want to associate with elites far more than with experts. Elites far less often lust after becoming experts, because we are often willing to treat elites as if they are experts. For example, when a journalist writes a popular book on science, they are often willing to field science questions when they give a talk on their book. And the rest of us are far more interested in hearing them talk on the subject than the scientists they write about.

Source: Overcoming Bias

7. Memes of the Day

*The information in this advertisement and the prospectus of Sweater Cashmere Fund is not complete and may be changed. We may not sell the Fund’s securities until the registration statement filed with the Securities and Exchange Commission is effective. This presentation is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The prospectus contains this and other information about the Fund and can be obtained by 1.888.577.7987 or emailing support@sweaterventures.com and should be read carefully before investing. All investing involves risks, and past performance is no guarantee of future results.

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