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| | | | This is the sixth catastrophic cherry harvest in a row in Spain, and it’s not the only crop failing. I went down the rabbit hole to uncover commodity opportunities. |
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Sweater: The Evolution of Venture Capital |
Investing in VC deals used to be for accredited investors who were well-connected. |
Sweater Ventures revolutionized the way VC works. |
What does Sweater do? |
In 2022, they created the Cashmere Fund. This was the first VC fund that anyone could invest in — accredited or not. |
Now, they've built something even more interesting: A platform that lets qualified partners start public funds. |
Qualified partners are fintech companies, brokerage firms, banks, universities, even celebrities and influencers. VC, real estate, PE, and private credit funds are all possible using Sweater. These are SEC-registered interval funds available to both accredited and non-accredited investors. Public solicitation is allowed (← this is huge) |
Think of it as private market investing using public fund infrastructure. |
| Sweater Inc - A Platform For Public VC Funds |
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Why invest in Sweater? |
Proven tech. The Cashmere fund has 5,500+ investors and $14m AUM deployed into 33 promising startups. Accelerating sales. Their first partner contract was just signed (a $500m fund). They're in the final stage on 3 additional contracts, and have a $4.6b AUM fund partner pipeline. Venture-backed team. Backed by 6 VCs, including Motivate, Akuna, and Bonaventure. Already raised $19m. |
How to invest in Sweater: |
Invest directly in the company via StartEngine Invest in the Cashmere Fund |
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Disclaimer: This is a paid advertisement for Jurny’s Regulation CF offering. Please read the offering circular at https://www.startengine.com/offering/jurny. |
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📰 Market Headlines |
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Nvidia overtook Apple as the second most valuable US company, driven by sustained investor confidence in the AI market. The chipmaker hit a $3 trillion market cap yesterday after shares rose over 5%. The S&P 500 rose 1.2% and Nasdaq surged 2%, both closing at record highs, while the Dow gained 0.2%. | The US services sector rebounded in May, but private payroll growth slowed, showing an economy withstanding rate hikes, but cooling. | The FTC announced plans to sue alcohol distributor Southern Glazer's Wine and Spirits, alleging "secret kickbacks" to large retailers. |
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🕶️ Market Vibes |
🎰 Market Forecasts and Futures |
Forecasts via Kalshi, the prediction market. |
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😱 Fear and Greed Index |
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🎤 What you said last time |
Time to lock him up? I dug deeper into this story in yesterday’s WC. |
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📈 Trends you need to know | | Without a doubt, these are exciting times in this field. | But, as we’ve seen before, it’s important not to get too carried away with the headlines and to have a solid understanding of these new technologies and their applications to engender effective investment outcomes. | Check out our guide to AI in finance. |
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🧠 What do you think? |
💬 Have your say |
Nvidia just overtook Apple as the second most valuable company in the world. |
Will Apple ever be worth more than Nvidia again? |
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📊 Stocks |
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Winners and losers |
Earnings, upgrades, and acquisitions |
Dollar Tree fell 4.92% despite Q1 revenue meeting estimates. Lululemon jumped 9% after topping Q1 EPS estimates and issuing strong Q2 and full-year 2025 guidance above consensus. Victoria's Secret topped earnings estimates for the first quarter, pushing shares up 1.1%. Campbell Soup topped Q3 EPS estimates; the stock rose over 1%. CrowdStrike catapulted 12% after beating Q1 earnings estimates with a 63% EPS jump and 33% revenue growth. Five Below plummeted nearly 15% after missing Q1 revenue estimates. |
Market movers |
After years of setbacks, Boeing's Starliner spacecraft rocketed into orbit with two astronauts aboard. Google acquired software virtualization company Cameyo to deeply integrate Windows app support into ChromeOS. The Amazon Labor Union, affiliated with the Teamsters, joined forces to take on Amazon. Boeing CEO Dave Calhoun said he will testify before a Senate panel on June 18 to address whistleblower safety allegations. Walmart unveiled a new bonus program for its 700,000 US hourly store workers, offering up to $1,000 per year based on store performance. American Airlines offered its flight attendants immediate 17% wage hikes and higher profit sharing for 2024. |
Ideas, trends, and analysis |
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78% of consumers still rate the US economy as poor or fair, with 50% citing high housing costs as a key reason for their negative outlook. Mortgage demand fell for the second straight week as rates moved to the highest level since early May. US companies added just 152,000 jobs in May, missing expectations. Japan's real wages fell 0.7% year-on-year in April, extending a record streak of 25 consecutive monthly declines. The number of people worldwide with investable assets of at least $1 million rose to a record 22.8 million in 2023. |
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🌍 Global Perspectives | 🇨🇱 Chile is set to install the world's largest astronomy camera on the edge of the Atacama desert to carry out a decade-long exploration. 🇮🇷 The IAEA Board of Governors passed a resolution condemning Iran for its lack of cooperation with the watchdog. 🇱🇧 🇺🇸 A gunman opened fire on the US Embassy in Lebanon before being shot and captured by security forces. 🇮🇱 🇵🇸 The Israeli military took "operational control" over eastern areas of Bureij refugee camp and Deir al-Balah in central Gaza. 🇺🇸 🇮🇱 The US House passed legislation to sanction ICC officials involved in seeking arrest warrants for Israeli PM Netanyahu and Defense Minister Gallant. |
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📊 Crypto | | Bitcoin passed $71,000 on Tuesday as investors poured $880 million into spot Bitcoin ETFs, the best day since March. Bain Capital Crypto led a $35 million Series A for M^0, a protocol allowing institutions to mint stablecoins backed by U.S. Treasuries. The SEC is closing its Salt Lake office after a disastrous crypto lawsuit resulted in a $1.8 million penalty. Centralized crypto exchange trading volume fell 20% to $5.27 trillion in May. Coinbase launched a new "smart wallet" to ease onboarding and enable gasless transactions. | |
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🧠 Errata | China admitted that its tallest waterfall gets a boost from pipes. A woman has been charged with assault for milkshaking Nigel Farage during his election campaign in Clacton-on-Sea. The political consultant behind fake Biden robocalls posted bail on the first 6 of 26 charges in a New Hampshire voter suppression case. Rescue workers tranquilized a black bear and caught it under a tree after a 20-foot drop. |
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📺 What to Watch Today |
Does this work on kids too? |
| Watch: Tranquilized black bear falls from tree |
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That’s all for today. Did I miss anything? Smash the reply button to let me know. | Cheers, | Wyatt |
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