Good Morning! Amazon's reported blockbuster earnings, profit more than tripled, topping Wall Street's expectations. Cannabis stocks also had a great day as the U.S. moves to reclassify marijuana. Walmart is taking on Trader Joe’s and Whole Foods by launching an upscale brand called Bettergoods aimed at Millennials and Gen-Z. HSBC’s CEO offered a surprise retirement, and Binance’s founder got sentenced to four months in prison. And online education stocks are tanking as high school and college students are turning to ChatGPT. 

High returns, recurring monthly income, diversification–private credit is a $1.9 trillion asset class, and everyday investors can invest today with Percent. 

_{SQUEEZ OF THE DAY}

New Hamptons Ride Just Dropped

If you're looking to get to the Hamptons in style this summer, Blade just announced its newest offering. For $195 a ticket, the helicopter charter company will take you from NYC to the Hamptons… on a bus.

It's definitely an interesting pivot. Blade's entire business model was predicated on allowing New Yorkers to get to the Hamptons while skipping traffic. But with seats on Blade's helicopters starting from $1,025 - I guess Blade is finding out investment bankers have to budget their measly bonuses in ways they didn't need to before.

Blade's Hamptons Streamliner bus isn't just any normal bus. The seats are specially developed by Bose to eliminate 90% of bumps and prevent motion sickness, and you can recline them up to 45 degrees.

Passengers can also order salads, espresso martinis, and PopUp Bagels.

All 19 passengers on board will have access to a call button at their seat, and Blade says they want to provide the same level of service you'd get on a helicopter.

Takeaway: Of course, Blade’s Hamptons Streamliner doesn’t change the underlying issue the company was created to solve - you’re still on a bus, and you’re still probably stuck in traffic… And while a few complimentary espresso martinis may make it a little more enjoyable - Murray Hill finance bros have been creating their own ‘Walmart Hamptons Streamliner’ hammering Four Lokos on the Jitney for years.

Further reading: Blade, founded 10 years ago, is also known for its organ transportation.

_{PRESENTED BY PERCENT}

Returns, Recurring Income, And Diversification?

This trifecta is not a fantasy—investors can potentially score all three with private credit deals on Percent.

Private credit investments are unique assets you won't find on public exchanges that can be less correlated to and less volatile than public markets. 

It’s an asset class that’s grown to $1.7 trillion as institutional investors seek out its benefits – especially as higher rates have driven higher expected yields. Now, individual investors can get in on the action too. On Percent, you’ll find deals with:

• Yield Potential: Percent’s average net APY in 2023 was 14.56%

• Shorter-Term Durations: most deals mature in 6-36 months

• Recurring Income: many deals offer recurring monthly interest payments

• Diversification: asset based lending, SMB loans, trade finance, litigation finance, consumer loans, and more across North America and Latin America

_HEADLINES

Top Reads

• Amazon beats on profit and revenue, with growth of 13% (CNBC)

• Pot stocks jump as U.S. moves to reclassify marijuana (YF)

• Walmart taking on Trader Joe’s and Whole Foods with biggest store brand in 20 years (Axios)

• HSBC’s CEO offers a surprise retirement (CNBC)

• Binance founder Changpeng Zhao sentenced to four months in prison (Verge)

• Online education stocks are tanking as students use ChatGPT (CNBC)

• U.S. consumer confidence hits its lowest level since July 2022 (YF)

• McDonalds and other companies warn inflation is impacting low-income consumers (CNBC)

• Hong Kong stocks are back from the dead (CNN)

• Family offices looking beyond stocks for higher returns, less volatility (CNBC)

_{CAPITAL PULSE}

Markets Rundown

Stocks closed lower yesterday ahead of the Fed meeting, and the S&P 500 snapped its five-month win streak as losses piled up in April.

Movers & Shakers

• (+) Eli Lilly ($LLY) +6% after the drugmaker beat Q1 earnings.

• (+) 3M ($MMM) +5% because the industrial maker posted strong revenue.

• (–) Chegg ($CHGG) -28% after the online learning company announced disappointing guidance. 

Private Dealmaking

• SES of Luxembourg bought satellite company Intelsat for $3.1 billion

• Beehiiv, Short Squeez’s newsletter platform, raised $33 million

• Island, an enterprise browsers provider, raised $175 million

• Corelight, an open network solutions provider, raised $150 million

• Ageras, a Danish accounting marketplace, raised $88 million 

• Elisity, a network identity provider, raised $37 million

For more PE, VC & M&A deals, subscribe to our Buysiders newsletter.

_{BOOK OF THE DAY}

The Lost Bookshop

On a quiet street in Dublin, a lost bookshop is waiting to be found…

For too long, Opaline, Martha and Henry have been the side characters in their own lives.

But when a vanishing bookshop casts its spell, these three unsuspecting strangers will discover that their own stories are every bit as extraordinary as the ones found in the pages of their beloved books.

And by unlocking the secrets of the shelves, they find themselves transported to a world of wonder… where nothing is as it seems.

‘The thing about books,’ she said ‘is that they help you to imagine a life bigger and better than you could ever dream of.’

_{DAILY VISUAL}

U.S. Consumer Confidence Drops to its Lowest Level in Nearly Two Years

_{DAILY ACUMEN}

Slow Down

In today's fast-paced world, it's easy to get caught up in the constant hustle and bustle. However, taking the time to slow down is essential for our personal growth and well-being. When we pause and create space for self-reflection, we gain a deeper understanding of ourselves, our values, and our aspirations.

This allows us to make conscious choices that align with our true desires. Slowing down also cultivates gratitude by helping us appreciate the present moment and the blessings in our lives. It enables us to be fully present in our relationships, fostering meaningful connections.

Some practical ways to slow down include creating space for stillness through meditation or time in nature, practicing mindfulness in daily activities, prioritizing self-care, setting boundaries, simplifying our schedules, and engaging in joyful hobbies.

By incorporating these practices into our lives, even in small ways, we can reduce stress, enhance our productivity, and ultimately support our personal growth and overall well-being.

_{ENLIGHTENMENT}

Short Squeez Picks

• 6 secret-sauce ingredients for empathetic leadership

• The number one personality trait employers always look for

• How to discuss the undiscussable on your team

• Top 5 reads of the year

• 7 words that explain how to avoid burnout

_{MEME-A-PALOOZA}

Memes of the Day