🙀 Roaring Kitty is now worth > $300m

🦹🏼‍♂️ But has Elon broken the law again?

Are you — or do you know — a ninja PPC marketer or videographer? We’re hiring for both. Just smash reply if so.

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

  • Stocks eked out modest gains yesterday as weak economic data bolstered hopes for rate cuts later this year.

    • The Dow advanced 0.4%, while the S&P 500 and Nasdaq posted smaller gains of 0.15% and 0.17%, respectively.

  • Meme stock influencer "Roaring Kitty" saw his net worth soar to nearly $300 million as he held onto a massive GameStop position.

    • E-Trade is considering banning him over manipulation concerns.

🕶️ Market Vibes

🎰 Market Forecasts and Futures

Forecasts via ​Kalshi​, the prediction market.

😱 Fear and Greed Index

🎤 What you said last time

“No one in this world, so far as I know—and I have searched the records for years, and employed agents to help me—has ever lost money by underestimating the intelligence of the great masses of the plain people.”

📈 Trends you need to know

“Tesla Motors' brand reputation continued to slip over the last year as Elon Musk's antics and other issues tarnished its once-impeccable image, according to new Axios Harris Poll 100 survey results.”

🧠 What do you think?

💬 Have your say

Yesterday, it was revealed that “Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI.” This pushed back Tesla’s “receipt of over $500 million in processors by months.”

Further, a “recent Nvidia email, from late April, said Musk’s comment on the first-quarter Tesla call “conflicts with bookings” and that his April post on X about $10 billion in AI spending also “conflicts with bookings and FY 2025 forecasts.”

The material misrepresentations on the earnings call potentially violate securities laws.

Do you think Elon broke the law?

Login or Subscribe to participate in polls.

📊 Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

Market movers

  • ChatGPT, Claude, and Perplexity all went down simultaneously yesterday.

  • Musk diverted over $500 million worth of Nvidia AI chips from Tesla to his other companies, X and xAI, delaying Tesla's AI plans by months.

  • Paramount-Skydance merger talks hit a snag as Shari Redstone was displeased with Skydance's reduced offer.

  • Microsoft and Google have announced plans to cut hundreds of staff from their cloud business sectors.

  • Netflix settled a defamation lawsuit with the Central Park Five prosecutor, donating $1 million to the Innocence Project.

Ideas, trends, and analysis

  • A new poll reveals 65% of middle-class Americans struggle financially, with 40% unable to plan beyond their next paycheck.

  • Americans typically spend about 24% of their income on mortgage payments, just shy of the often recommended 30% threshold.

  • Sales of Chinese electric cars in Europe have dropped, with new registrations at just 2.9% in early 2024.

  • The wealth gap in Europe is widening, with the richest countries having over ten times the wealth per adult compared to the poorest.

🌍 Global Perspectives

  • 🇮🇳 Indian stocks had their worst day in 4 years as Prime Minister Modi's hopes of a huge majority fade.

  • 🇮🇱 🇵🇸 Israeli forces launched a new ground and air assault on central Gaza, killing at least 6 Palestinians.

  • 🇵🇹 Portugal has left 400,000 jobseekers in limbo with its latest immigration crackdown.

  • 🇵🇭 🇨🇳 The Philippine military chief said the Chinese coast guard seized food dropped by plane for Filipino forces in the disputed South China Sea.

  • 🇰🇷 🇰🇵 South Korea suspended a contentious military agreement with North Korea to resume front-line military activities.

📊 Crypto

  • Ark Labs launched to develop a new Bitcoin Layer 2 payments network based on the Ark protocol.

  • Bitcoin miner Core Scientific surged 40% after signing a 200 MW AI deal with CoreWeave.

  • Euro-pegged stablecoin issuer Lugh is halting issuance due to the EU's MiCA regulation.

  • Ex-Polygon team secured a $43 million Series A round for Avail, a blockchain-scaling solution aiming to unify fragmented rollup ecosystems.

🧠 Errata

📺 What to Watch Today

Time to get on Zillow.

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

Cheers,

Wyatt

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