Economy/Markets.  US Stocks down 22%, tech down 28%, ARKK down 55%. Inflation print. CPI at 9.1%Energy and Gas up 60% Food up 10%. These are the items that are killing average Americans. What now: War, Supply Chains, Inflation (supply driven), and Fed actions.  We need a peace deal to end the war and we need China open. Are we in a recession? Yes. Politics: 70-80% of americans in general agreement. Then the 10% wacko’s come out and ruin everything for the rest of us. Climate change or die! No. There is a middle ground. Energy. Pass $1 trillion bill. $500b on near term energy and $500b on long term sustainable clean energy. To easy, right!?Abortion. Shouldn't have gone here!?Netflix: Bad guide. Stock down 75%. Partnering with Microsoft for adsTikTok kicking Netflix’s ass…so why not compete head on. Lots of Cheap stocks:Example: Stitchfix down 95%. Bill Gurley buys $5m of StitchFix. 20x return if it goes back. That’s the good news. Twitter/MuskSpam accounts hard to determine.Twitter suit against Musk looks like a looser. Elon Musk is a nightmare client. The Atlantic. Tesla returning to office. As for Musk himself, the CEO had said in an email a few days earlier that he would spend six days a week in the factory, “seven if physically possible.” In the email, which The Information reviewed and which hasn’t been previously reported, Musk added, “BTW, anything I ask others to do, I do myself even more.”Tesla: All automakers down today. Watching this guy say that Tesla will “revert to mean” of other company valuations. No they wont. Solar, Battery, Cars, AI, HVAC, Semi’s, Entertainment: TopgunTour de France. British Open for Golf. Tiger shot a 78. 

Austin Texas bachelor party. I love that town. Dr. Emperor of masks and vaccs Fauci has Covid; and he’s been vaccinated 4 times. Chesa Boudin the progressive DA of the most progressive city was recalled. Are people actually getting tired of crime? Markets: S&P down 23% and Nasdaq 100 down 30%. Fed just raised 0.75% this week. First time since 1994. Now we’re at 1.75%. Inflation. Gas. War. 8.6% 100% up for gas. News flash: interest rate hikes don’t drive gas prices down. Credit card companies make a lot more money when gas prices double. Their revenue doubles. Buy Visa and Mastercard?Housing: In Jan 2021 30 yr mortgage rate was 2.65%. Avg home price $402k. Today. 5.78% and $570k. 20% down payment. Monthly payment is $1,294 to $2,671. 106% increase. Rates are 3% higher. So $500k loan. $15k/year or $1,250/mo. I personally just saw more houses for sale on Zillow in my neighborhood, more than ever. USA Today removes 23 articles after a reporter fabricated sources. USA today is allegedly a “fact checker” for Facebook and possibly Twitter. Musk at Twitter All-hands.  Elon Musk: SpaceX fires employees. No unsolicited employee activism needed!! NYT reporting on letter. Brian Armstrong did this at Coinbase. “The letter, solicitations and general process made employees feel uncomfortable, intimidated and bullied, and/or angry because the letter pressured them to sign onto something that did not reflect their views,” Ms. Shotwell wrote. “We have too much critical work to accomplish and no need for this kind of overreaching activism.”Twitter: So casual. Looks like he is on iPhone and some dude walking around in kitchen in background. 200m daily users. 7.8b Gap. 8b in world. Wants 1b at least. How to verify. $3/month. Payments. Entertaining advertising.Video: Talk about how to make Twitter better! https://www.youtube.com/watch?v=FLvTcRrzy20Video 2: How do you define success. Netflix take some lessons! TikTok!! Electrician and immigration. 3 strategies: PHD’s. Lower labor. Refugees. AND Strong borders. Tesla stuck in the mountains. https://twitter.com/ShowersJacob/status/1537556676558979072

Mike Greene is innovating and changing the future of single-family home investment opportunities! Mike Greene is the CEO of Resi-Shares; a firm that is leveraging data, technology, and financial innovation to deliver systematically diversified appreciation and rental income from single family homes.Mike and I go back a long way having attended the MBA program at UC Berkeley.  Mike has worked his entire life in real estate including sell-side banking, buy-side and finally at HouseCanary, a company leveraging big data and AI to provide actionable insights on real estate. In this episode we talk about: When Mike co-founded his business Covid hit and he thought it would be a perfect time to invest in single-family housing, but the markets sky-rocketed and real estate prices went up. Turned out the timing was terrible, but like any great entrepreneur he persevered, learned a lot and survived! What his company Resi-Shares and other institutions are doing in the real estate markets: BlackRock, BlackStone, and investing in real estate investment trusts (REIT’s). We spend a lot of time talking about Bay Area real estate (at my admittedly selfish request). Should you buy or rent?Should you sell or rent if you’re moving? What’s going to happen to Bay Area real estate, given economy and interest rates.  We've seen a migration out of California, but housing consistently goes up in price. We dive into the why. Recommendations discussed: Anthony Bourdain - Medium RawLakers Fiction/non-fiction story: Winning Time

Markets: S&P 500 down 15% and Nasdaq 100 down 23% YTD. Housing Market: Mortgage rates from 2.5 to 5.5%. $1m loan at 3% is $30,000 per year, Double that to get pre-tax earnings of $60,000. That means you need to be earning at least $60,000 more per year to cover mortgage interest on $1m loan. There is a silver lining to this market. Big downturns every decade or so make for the best 2-3 time opportunities in life to invest. 2022 is it. Fund your 529’s. Dollar cost average in.  Sept 2000: 1520 - 800 Oct 2002. 47%. Oct 2007: 1565. 95% (doubled money in 5 years). March 2009: 712. 54% down. Jan 2022: 4800. 574%. Almost 6x. 13 years. May 2022: 3900. 20% down. Tesla: Elon Emails: https://twitter.com/WholeMarsBlog/status/1532728341865943040Bloomberg: To be super clear! “Pretend to Work somewhere else” - Elon Musk. Reuters: Elon email to cut staff by 10%. Reuters. https://www.reuters.com/technology/exclusive-musk-says-tesla-needs-cut-staff-by-10-pauses-all-hiring-2022-06-03/Joe Biden Video9000 Ton Giga-press for Cybertruck. YouTube videoStock down 10% hahaFord: In another headline: Ford to Create Thousands of Factory Jobs, Invest $3.7 Billion in EV, Gas-Engine ProductionThe 3.7 multibillion-dollar investment will go to retooling factories to build newer versions of gas-engine models, such as the Ford Ranger pickup and Mustang sports car, the auto maker said Thursday. 55,000 Union auto workers. In Closing; NFLX Stranger Things viewing. 286m vs Briderton and MoneyHeist ~200m. Johnny Depp $10m. Hunter Biden. Texts. Viewer discretion advised! 

We probably could use some reasonable gun laws that 80% of Americans agree on.  In fact, 80% of Americans would agree on a lot of things, but our politicians are so corrupted by the far left and right, its impossible to get anything done! Huge rally this week. Stocks up 4% in 4 days. Layoffs at PayPal, Netflix,  Robinhood and Bolt (one click startup payment company)Hiring Freeze/slowing at Meta, Uber, Coinbase, Microsoft, Nvidia.  Fed minutes indicated will still increase 0.5% in June and July. But then open to “wait and see”.Housing market: Mortgage rates up: 2.5% to 5%+ Home Sales are down Jan to April. 6.5m to 5.6. 15% down. Spring/summer should be up!? Single family starts lowest since Oct 2021. Mortgage purchase applications slowest since May 2020. Homebuilder sentiment lowest since June 2020. Energy. Gasoline up 80%. Crypto is not a hedge: Crypto market cap has fallen from $2.3t to 1.3t. $4.5b fund at Andreeson Horowitz. A16zMy Luna is $0. BTC. Down 56%ETH. Down 60%. DCA in still recommended. Apple holding up well in the News. $144, down 21% YtD. was down 25%Flat iPhone sales. 220m, same as 2021. Expected 240. Tormer Tesla Autopilot software engineer who left to join Apple’s secretive car project last year, has left Apple to join Luminar.Lidar vs. AI real cameras. Tesla showing different types of cars, doors open, garbage cans, cones, traffic lights…insane! Tesla: Diner3700 charging stations globally.Elon committed to buying Twitter.  Netflix: Netflix Games suck. Stranger Things. Can it have a Squid Game effect? Its been 3 years and only show streamed/seen more was final episode of GoT. In Closing: Ricky Gervais on Netflix. Tesla Charger competition. https://www.wsj.com/articles/tesla-supercharger-competition-race-11653581057?mod=hp_featst_pos5

The US is in a recession. The Fed is not helping as they are driving consumer confidence and therefore spending into the ground. Its a Fed-induced recession. Regardless, the markets needed this correction. Its healthy and if you have money this is the time to make a lot of money over the next decade.  Tech stocks and "Generals" have now been shot. Apple is down 25%. Google, Amazon, Microsoft all down over 25%.  Consumer defensive: Target, Costco, Walmart, Koels, all down! Netflix is making major strategic adjustments. About time! Tesla/Twitter....so much going on. I play some clips of Elon talking about (1) why he's buying Twitter. Surprise, it all sounds reasonable and rational. and (2) why Tesla is like 10 startups in one company. Have a great weekend! 

We are in the 3rd major drawdown of the 2000's.  2000: DotCom Crash2008: Great Recession2020: Great Reset. Elon is buying Twitter. The far left is pissed. But now he's got backing by big private equity and Larry Ellison. He also says he will take Twitter public again in 3 years or so. Tesla is killing it. Growing 50% year over year at a scale never before seen in history. Netflix completely dropped the ball. Raised prices too fast and programming is not good enough. Down 72%. So many tech companies down 50 - 90%. There will be more carnage.  Recommendations: get outside. It's summer. 

I think Covid is finally over, at least in US. We are so tired of it. Time to move on. Markets are wild this quarter. Down 15%, then up 10% to be down only 6%!?  Tesla is tearing it up in Austin with their Cyber Rodeo today/tomorrow. Elon to speak tonight. So many catalysts in their business including Tesla Austin, Berlin and Shanghai expansion.  Elon joined Twitter board. This will be interesting and will be good for free speech in the "public square" Netflix is too woke and not taking enough risks. Stock down 50%. Unlikely to recover anytime soon. They don't even care about 140m potential subscribers in Russia. Pinterest is dying to get noticed, so said they will start suppressing climate change misinformation. Good for them. Masters golf tournament this weekend! 

Ukraine. Markets are getting smashed, but we're not in recession...Yet.  State of the Union. Covid super spreader event...nope...they told us its over! Yay. Is Biden a flip-flopper?  Overall boring, like all of them.  Covid is over; at least our politicians say so. Tesla is KING.  

Serious and tragic situation with Ukraine and Russia. This needs to end soon. Markets officially went into "correction" territory this week, which means they're down 10% from high. This could be a wild year! Block and Etsy are great examples of growing high potential companies that got punished by 60-70% off their high. They both reported strong earnings on Thursday and rebounded sharply...though no where near where they were! Tesla in the news. Ford in the news: CEO says it will be VERY difficult to compete head-to-head with Tesla! Wow! I loved Despicable Me 1 & 2.  Embarrassed to say I'd never seen them before!