Open Door Cuts 22% Of It's Worforce & The Wed Five
SOMETHING INTERESTING:
Tweet Worth Reading: If you're a dad (like I am), you'll love this thread by SaveYourSon on 20 life lessons to teach your child:
Book I’m reading:
You can see my notes and highlights here.
My favorite tools and SYSTEMS for growing, reading & hacking life:
Kindle. Greatest invention since the printing press if you like to read. I LOVE my Oasis! A couple rules, if i get bored any time through the book I pause it. If I get bored twice I stop reading it.
Notion. I often feel this bent toward being too transactional & goal oriented with reading. I’ve sought to train myself to love who I am when reading instead of just trying to hit a quotas. At the end of a book I take my highlights and throw them in Notion. One of my most used apps.
Readwise. A TRUE game changer. I integrate Readwise with my Kindle, Audible, Podcasts (through Snipd) and Notion. When I make highlights in any of the above mentioned apps it automatically populates my Notion board under that book. Saves me hundreds of hours.
Scribd. I’m an avid podcast listener. I LOVE Scribd because it allows me to highlights moments in a podcast (and will automatically populate Notion board). I used to always have a note open on my phone and would pause the podcast to dictate into my notes. NO LONGER! Less gooooo!
DayOne. I journal almost everyday. My journaling process is two fold: 1) create self awareness 2) retrieval of memory
Notability. I have collected thousands of PDF documents. Notability is my favorite app to read (and markup) PDF’s. I have them organzied by type of content (book/article/etc) and TAGGED by topic.
One Simple Graphic:
Quote worth pondering:
Mike Markkula, an electrical engineer and investor who worked alongside Steve Jobs and eventually became the first chairman of Apple Computer, shares a few of the company's core principles:
"The Apple Marketing Philosophy:
Empathy. We will truly understand their needs better than any other company.
Focus. In order to do a good job of those things we decide to do we must eliminate all of the unimportant opportunities.
Impute. People DO judge a book by its cover. We may have the best product, the highest quality, the most useful software, etc.; if we present them in a slipshod manner, they will be perceived as slipshod; if we present them in a creative, professional manner, we will impute the desired qualities."
Source: Internal memo (January 3, 1977)
WHAT’S MOVING THE MARKET?
Opendoor Technologies on Tuesday said it was cutting roughly 560 jobs, or 22% of the workforce at the online U.S. real estate firm, citing a declining housing market. More here
Elon Musk plans ‘TruthGPT’ A.I. to rival OpenAI. Musk revealed that he wants to start a new AI initiative called “TruthGPT” via his company X.AI because he fears that existing AI businesses are training their systems to be “politically correct.” He wants TruthGPT to be a “maximum truth-seeking AI that tries to understand the nature of the universe.”
Goldman Sachs misses revenue estimates. The bank said profit fell 18% to $3.23 billion, or $8.79 a share, topping the estimate of analysts surveyed by Refinitiv. Revenue fell 5% to $12.22 billion, below estimates on the consumer loan hit and weaker-than-expected bond trading results. This is partly due to taking a $470 million hit tied to the sale of the Marcus loans portfolio.
China’s economy grew 4.5% in the first quarter. That was higher than the 4% forecast in a Reuters poll of economists and marks the highest growth since the first quarter of last year. Quarter-on-quarter, the economy grew 2.2%. China’s growth has been under the spotlight as it reopens after ending most of its strict Covid restrictions that were in place for nearly three years.
WHAT’S WORTH WATCHING?
Bets against continued gains in the S&P 500 have grown. The more the S&P 500 goes up — and it’s risen 6% in a month — the less people trust it. Hedge funds have been loading up bets against US stocks, with S&P 500 e-mini futures data showing near the most bearish reading since November 2011. Yet benchmark notched fifth week of gains out of last seven.
Brookfield defaults on $161 million debt for office buildings. The defaults are mostly around Washington, DC, as rising vacancies hit property values. The loan was transferred to a special servicer who is working with the borrower to execute a pre-negotiation agreement and to determine the path forward, according to a filing on the commercial mortgage-backed security.
Rooting for you!
Jonathan Smith
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Disclaimer: Jonathan Smith is not a practicing CPA or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified CPA, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.