TOGETHER WITH
Hey there weekday warrior,
Here’s what’s on the agenda today…
Masa Son ditches Nvidia, Apple releases (another) iPhone cross-body bag, and Tesla is getting into the car rental game.
Enjoy the next 4 minutes and 8 seconds of blue-chip news and commentary.
Keep on snapping necks and cashing checks,
Masa Gon
Masa Son: *sees literally one Michael Burry tweet*
Also, Masa Son: *unloads NVDA*
Softbank just went all “ight imma head out.” Adam Neumann’s sugar daddy sold its entire $5.8B stake in Nvidia $NVDA ( ▼ 2.96% ). If that sounds familiar, it’s because Softbank liquidated a yuge stake in Nvidia once before (~$4B in 2019).
Why unload your entire stake in the second most important company in the history of the world?
To blow it all on the most important company in the history of the world, of course…
Turns out Masa is over the pick and shovel trade and plans to mainline all of his funds directly into OpenAI. The $5.8B check will be used to fund Softbank’s massive $22.5B investment in OpenAI… plus some other AI bets.
It appears that Sam Altman has come to collect, because the NVDA stake wasn’t even Masa’s biggest cash out yesterday. Softbank also sold off $9B worth of T-Mobile.
“I’m not mad, I’m disappointed.” - Softbank investors
Shareholders punished Softbank’s move. The stonk fell more than 10% at the open in Tokyo. To be fair, Masa’s timing probably couldn’t have been worse, given how freely the “b” word is being thrown around…
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+ Zuck is about to pay some Stanford computer science grad the equivalent of the GDP of a third-world country to develop his AI model enjoyed by literally dozens of users every day…
You see, Meta’s $META ( ▼ 0.74% ) chief AI scientist is calling it quits. Yann LeCun, one of the world’s leading AI scientists (read: virgin), is leaving Meta to start his own company. Perhaps it was all that new blood Zuck was bringing in?
+ “Look how they massacred my boy.” - Steve Jobs from the great beyond
From the makers of the iPhone cross-body strap that nobody wanted comes the iPhone cross-body sock that even fewer people will want. Meet the iPhone Pocket, a 3D printed sock-like bag that will hold your iPhone.
No, this is not an Etsy listing. This is something made by one of the “most innovative companies in the world.” It’s an official Apple $AAPL ( ▲ 2.16% ) product.
If you can come to terms with the public humiliation you’ll endure, the Sock will set you back $230 (or $150 for a shorter version). That’s because it was designed by Japanese designer Issey Miyake (who probably can’t even believe he’s getting away with this sh*t…)
If this sounds familiar, that’s because Steve Jobs already thought of it. He debuted the iPod Sock more than 20 years ago…
Meanwhile, a live look at Sam Altman, Jony Ive, and pretty much every other company eating Apple’s lunch on the AI front…
+ “Oh, that’s my Oura Ring. It tracks my sleep, stress, and heart rate.” - an Oura Ring owner showing you their Oura Ring even though you didn’t ask
America has a fever, and the only prescription is more Oura Rings. The company said yesterday it will do $1B in sales this year, doubling last year’s revenue. And management is confident it will hit $2B in 2026.
+ Tell me things are bad without telling me…
Tesla $TSLA ( ▼ 1.26% ) has a new competitor: Hertz Rental Cars.
As sales plummet in the post-EV tax credit world, Tesla has quietly begun renting (not to be confused with leasing) cars at its dealerships. You can walk into a Tesla store and walk out with a $60 per day rental… which includes free Supercharging. The EV maker is hoping this boosts sales.
+ You’re welcome…
+ US stocks “were mixed on Tuesday, as the blue-chip Dow index jumped to notch a new all-time high close, fueled by optimism that Washington may soon end the record-breaking government shutdown. Tech stocks faltered in a bid to extend their own rally, however, dragged down largely by Nvidia.” (Yahoo! Finance)
+ Bond markets were closed for Veterans Day, but the 10-year yield “rose in the previous session as investors grew optimistic about the U.S. government shutdown ending.” (CNBC)
+ Oil “gained about $1 on Tuesday on the impact of the latest U.S. sanctions on Russian oil and the optimism over a potential end to the U.S. government shutdown, although oversupply concerns limited gains.” (Reuters)
+ Bitcoin “steadied on Tuesday as a recent rebound paused amid growing caution over upcoming high-level talks between the U.S. and China and a Federal Reserve meeting later this week.” (Investing.com)
+ The “smart” money (prediction markets) thinks there’s a 63% chance YouTube TV reinstates its streaming contract with Disney before the end of this month. (Kalshi)
⏪ Yesterday…
+ Nebius Group and Sea reported before the bell
+ Oklo reported after the close
⏩ Today we’re keeping an eye on…
+ Circle and On Holdings report this AM
+ Cisco, Serve Robotics, and Dlocal report after hours
Yesterday, I asked, “What's the GOAT pasta shape?”
22.9% of you said, “Penne.”
Here’s what some of you guys had to say…
Penne: “Penne is king. Ever snorted coke through a piece of spaghetti?”
Penne: “Penne is like an adjustable wrench, no matter the bolt (sauce) you can turn it with Penne the rest are too specific to a certain sauce.”
Other: “I almost exclusively buy angel hair pasta. Its thinner spaghetti, so maybe I should've just said spaghetti, but I'm different and better than the people saying spaghetti.”
Penne: “don't lie, you had to google "different pasta types" to put this list together”
Rotini: “Great sauce/pasta ratio and coverage”
Fusili: “It's fun to eat...childhood coming back to me now!”
Here’s today’s question…
Do you wear a wearable?
Oh, and one more thing…
What did you think about today's newsletter?
Sent from my Amazon Fire Phone. Please excuse any mistakes and typos.
Does this look like the face of a guy you should take financial advice from?
No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...
This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.