🍋 Insta IPO

How Instacart is winning investors over ahead of tomorrow's IPO, plus Disney wants to sell ABC, and crazy job recruiting DMs.

"The difference between successful people and really successful people is that really successful people say no to almost everything." — Warren Buffett


Good Morning! Hope y’all had a fantastic weekend. Salesforce is planning on hiring 3,000 new employees to ramp up the AI craze. And Gen-Z and Millennials say they’re getting jobs from sliding into recruiters’ DMs.

Rising interest rates are making big companies even richer thanks to all the cash they’re holding. Disney’s trying to sell ABC. A new study found some wealthy parents are spending up to $750k to get their kids into Ivy League schools.

We are finally dropping our highly anticipated Financial Modeling course on October 3rd, that will teach you how to build financial models like the professionals on Wall Street. You can pre-order here and get $100 off.


Insta IPO

When you think Instacart, you’re probably thinking of the grocery delivery app. But the company preparing for its IPO debut tomorrow, has shifted its focus from being merely a delivery platform, to positioning itself as an advertising and software powerhouse.

Instacart’s bread-and-butter was its grocery delivery platform. And during the pandemic, Instacart thrived.

But as profits began to dry up, the company brought in a new CEO from Meta in 2021. Following the pandemic, Instacart’s emphasis shifted towards expanding its advertising business. Brands could now pay for prominent placement within the Instacart app.

Rather than solely improving delivery logistics, the company built software tools and products for grocery companies.

Today, Instacart's primary revenue driver is no longer its delivery service but its advertising and software divisions, which are highly profitable. According to its latest prospectus, approximately one-third of Instacart's $2.5 billion in revenue last year came from these segments. In the first half of this year, they turned $406 million in revenue from ads and software into an impressive $242 million in profit.

Takeaway: But don’t expect Instacart to become a slam dunk for investors. Just ask DoorDash, whose stock is still down more than 50% since its IPO three years ago. Similarly, Instacart has continually adjusted its valuation. It was as high as $39 billion at one point, but now it’s closer to $10 billion.


Markets Rundown

Stocks gave up their weekly gains.

Movers & Shakers

  • (+) Axis Capital ($AXS) +3% after the insurance company was upgraded by Bank of America.

  • (–) Arm Holdings ($ARM) -4% during its second trading session.

  • (–) Planet Fitness ($PLNT) -16% after the company’s CEO stepped down.

Private Dealmaking

  • Verkor, a French EV battery startup, raised $904 million

  • Helsing, a defensive AI startup, raised $223 million

  • FloLive, an IoT connectivity startup, raised $47 million

  • Beam Benefits, a medical benefits company, raised $40 million

  • Druid, a business chatbot developer, raised $30 million

  • Lydian, a developer of CO2-derived fuels and chemicals, raised $12 million

Get access to private deal flow here.


The Art & Science of Financial Modeling

After the huge success of our Investment Banking Excel Course, we are excited to announce the launch of our highly anticipated Financial Modeling Course.

This course will dive deeper into spreadsheets and teach you how to become a pro in financial modeling.

We are sick of the sub-par courses out there taught by people working in the back office.

Our course will teach you how the professionals on Wall Street build financial models, and take you from a novice (if you are one) to a modeling expert in a few hours of video content.

Whether you're an aspiring analyst, a finance professional, a savvy entrepreneur, or simply a passionate lifelong learner, this course is for you.

And as always, we will give a full money back guarantee if you are not satisfied after taking the course.

Launching October 3rd. Pre-order here to get $100 off.


Top Reads

  • Ray Dalio says he doesn’t want to hold bonds, cash is good (BB)

  • UAW members go on strike (CNBC)

  • Arm’s strong performance spurs IPO optimism (Axios)

  • How rising gas prices could help the Fed fight inflation (YF)

  • Manhattan medium rent remains at record high (CNBC)

  • UBS’ $40B private equity team sees entry points opening in tech (BB)

  • Why understanding the Great Disinflation is crucial (Axios)

  • Ray Dalio pushes for return to hedge fund in succession clash (NYT)

  • Arm IPO shows why banking is fun again (BB)


The Perfection Trap

Today, burnout and depression are at record levels, driven by a combination of intense workplace competition, oppressively ubiquitous social media encouraging comparisons with others, the quest for elite credentials, and helicopter parenting. Society continually broadcasts the need to want more, and to be perfect.

Gathering a wide range of contemporary evidence, Curran calls for both introspection and broader, societal change. He shows what we can do as individuals to resist the modern-day pressure to be perfect, and in so doing, win for ourselves a more purposeful and contented life.

The Perfection Trap is for anyone who has ever felt overwhelmed by the soul-crushing need to not just compete but compete to a level beyond reason. In place of an ever-moving treadmill, it offers the relief of letting go to focus on what matters most.

“For anyone struggling to find their footing in a world of impossible standards.”


Short Squeez Picks

  • Respect and admiration

  • How to get noticed at work

  • The number one silent saboteur of success

  • Why the rich succeed in life but fail at love

  • How to use structured procrastination to get more done


US Top 1% Net Worth by Age

Source: dqydj.com


15X Growth and Counting: Smart Home Industry Continues to Provide Lucrative Returns

No longer a futuristic dream, Smart Homes are a thriving reality with a market poised for exponential expansion. Early investors have already reaped the rewards, and you can too.

Following the examples of companies like Ring, Nest, iRobot and Ecobee, RYSE has generated over 15X growth in share price for early shareholders.

Previously closed to new investors, they have re-opened their doors, and today you can purchase shares in the company whose name may become synonymous with Smart Shades in the future.

Existing players in the Smart Shades industry have been unable to increase the adoption of these incredibly useful devices, but RYSE is changing the game with award-winning technology and significant retail distribution deals.

Still in the growth stages and far from the billion dollar valuations of Ring and Nest when they were acquired, RYSE’s substantial upside potential has tech investors closely watching its stock.


A Few Things

Money can bring happiness but it also brings complexity, and complexity can quickly lead to unhappiness.

It’s easy to mistake getting attention for being right or being admired, especially on social media.

The most valuable personal finance asset is not needing to impress anyone.

A bigger problem than price inflation is expectations inflation: A constant increase in what you need to be satisfied.

I have no interest in anything that’s not sustainable. The key to success in so many areas of life is endurance and longevity.

The proper financial mindset is to be scared enough to save for the short run and brave enough to invest for the long run.

Source: Morgan Housel


Memes of the Day



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