Description

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 ads
• TikTok 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/Musk

• Spam 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: 

• Topgun
• Tour de France. 
• British Open for Golf. Tiger shot a 78.