🦾 Ndidia smacks down Apple

🚀 While markets hit fresh new highs

This is the sixth catastrophic cherry harvest in a row in Spain, and it’s not the only crop failing. I went down the rabbit hole to uncover commodity opportunities.

Sweater: The Evolution of Venture Capital

Investing in VC deals used to be for accredited investors who were well-connected.

​Sweater Ventures​ revolutionized the way VC works.

What does Sweater do?

In 2022, they created the Cashmere Fund. This was the first VC fund that anyone could invest in — accredited or not.

Now, they've built something even more interesting: A platform that lets qualified partners start public funds​.

  • Qualified partners are fintech companies, brokerage firms, banks, universities, even celebrities and influencers.

  • VC, real estate, PE, and private credit funds are all possible using Sweater.

  • These are SEC-registered interval funds available to both accredited and non-accredited investors.

  • Public solicitation is allowed (← this is huge)

Think of it as private market investing using public fund infrastructure.

Why invest in Sweater?

  1. Proven tech. The Cashmere fund has 5,500+ investors and $14m AUM deployed into 33 promising startups.

  2. Accelerating sales. Their first partner contract was just signed (a $500m fund). They're in the final stage on 3 additional contracts, and have a $4.6b AUM fund partner pipeline.

  3. Venture-backed team. Backed by 6 VCs, including Motivate, Akuna, and Bonaventure. Already raised $19m.

How to invest in Sweater:

Disclaimer: This is a paid advertisement for Jurny’s Regulation CF offering. Please read the offering circular at​ ​​https://www.startengine.com/offering/jurny​.

📰 Market Headlines

  • Nvidia overtook Apple as the second most valuable US company, driven by sustained investor confidence in the AI market.

  • The US services sector rebounded in May, but private payroll growth slowed, showing an economy withstanding rate hikes, but cooling.

  • The FTC announced plans to sue alcohol distributor Southern Glazer's Wine and Spirits, alleging "secret kickbacks" to large retailers.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

🎤 What you said last time

Time to lock him up? I dug deeper into this story in yesterday’s WC.

📈 Trends you need to know

Without a doubt, these are exciting times in this field.

But, as we’ve seen before, it’s important not to get too carried away with the headlines and to have a solid understanding of these new technologies and their applications to engender effective investment outcomes.

Check out our guide to AI in finance.

🧠 What do you think?

💬 Have your say

Nvidia just overtook Apple as the second most valuable company in the world.

Will Apple ever be worth more than Nvidia again?

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📊 Stocks

Get $20 free shares at ​public.com​ using code ALTSCO.

Winners and losers

Earnings, upgrades, and acquisitions

  • Dollar Tree fell 4.92% despite Q1 revenue meeting estimates.

  • Lululemon jumped 9% after topping Q1 EPS estimates and issuing strong Q2 and full-year 2025 guidance above consensus.

  • Victoria's Secret topped earnings estimates for the first quarter, pushing shares up 1.1%.

  • Campbell Soup topped Q3 EPS estimates; the stock rose over 1%.

  • CrowdStrike catapulted 12% after beating Q1 earnings estimates with a 63% EPS jump and 33% revenue growth.

  • Five Below plummeted nearly 15% after missing Q1 revenue estimates.

Market movers

  • After years of setbacks, Boeing's Starliner spacecraft rocketed into orbit with two astronauts aboard.

  • Google acquired software virtualization company Cameyo to deeply integrate Windows app support into ChromeOS.

  • The Amazon Labor Union, affiliated with the Teamsters, joined forces to take on Amazon.

  • Boeing CEO Dave Calhoun said he will testify before a Senate panel on June 18 to address whistleblower safety allegations.

  • Walmart unveiled a new bonus program for its 700,000 US hourly store workers, offering up to $1,000 per year based on store performance.

  • American Airlines offered its flight attendants immediate 17% wage hikes and higher profit sharing for 2024.

Ideas, trends, and analysis

  • 78% of consumers still rate the US economy as poor or fair, with 50% citing high housing costs as a key reason for their negative outlook.

  • Mortgage demand fell for the second straight week as rates moved to the highest level since early May.

  • US companies added just 152,000 jobs in May, missing expectations.

  • Japan's real wages fell 0.7% year-on-year in April, extending a record streak of 25 consecutive monthly declines.

  • The number of people worldwide with investable assets of at least $1 million rose to a record 22.8 million in 2023.

🌍 Global Perspectives

  • 🇨🇱 Chile is set to install the world's largest astronomy camera on the edge of the Atacama desert to carry out a decade-long exploration.

  • 🇮🇷 The IAEA Board of Governors passed a resolution condemning Iran for its lack of cooperation with the watchdog.

  • 🇱🇧 🇺🇸 A gunman opened fire on the US Embassy in Lebanon before being shot and captured by security forces.

  • 🇮🇱 🇵🇸 The Israeli military took "operational control" over eastern areas of Bureij refugee camp and Deir al-Balah in central Gaza.

  • 🇺🇸 🇮🇱 The US House passed legislation to sanction ICC officials involved in seeking arrest warrants for Israeli PM Netanyahu and Defense Minister Gallant.

📊 Crypto

  • Bitcoin passed $71,000 on Tuesday as investors poured $880 million into spot Bitcoin ETFs, the best day since March.

  • Bain Capital Crypto led a $35 million Series A for M^0, a protocol allowing institutions to mint stablecoins backed by U.S. Treasuries.

  • The SEC is closing its Salt Lake office after a disastrous crypto lawsuit resulted in a $1.8 million penalty.

  • Centralized crypto exchange trading volume fell 20% to $5.27 trillion in May.

  • Coinbase launched a new "smart wallet" to ease onboarding and enable gasless transactions.

🧠 Errata

  • China admitted that its tallest waterfall gets a boost from pipes.

  • A woman has been charged with assault for milkshaking Nigel Farage during his election campaign in Clacton-on-Sea.

  • The political consultant behind fake Biden robocalls posted bail on the first 6 of 26 charges in a New Hampshire voter suppression case.

  • Rescue workers tranquilized a black bear and caught it under a tree after a 20-foot drop.

📺 What to Watch Today

Does this work on kids too?

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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