đ°What was in the News?
đ©ââïž Robinhood, Citadel, roaringkitty, and trading experts gathered over Zoom, (does that sound right?) for a hearing on the Gamestop, and AMC debacle. What happened? Nothing really. Congress people didnât really know what was going on, and the CEOs of Robinhood and Citadel were mainly dismissive. Roaringkitty stole the show.
đ„¶What is now being labeled the âTexas Freezeâ, had brought the weather down below -18 Celsius and blown up the PowerGrid with over 2 million people without power. The TLDR is that power providers , everything from power plants to wind turbines werenât really ready for this weather, and do not have an obligation to supply power to customers due to certain laws.
đCoinbase is set to go public via a direct listing, valued at over $100 billion. This would be the largest US public tech IPO since Facebook. Coinbase did $141 million in net income on $691 million in revenue this past year. A direct listing will enable Coinbase to go public on the NASDAQ without issuing additional shares or merging with a SPAC. Palantir who reported earnings this week also went public via this method.
đ€Meeting Recap
Apple Financial Spreading. I heard some really good questions this week; I love those that are staying engaged and following along on your own.
Remember, EBITDA = Earnings Before Interest Taxes Depreciation and Amortization
Breakout rooms for Social Media giants. Hope yâall had some good discussions and enjoyed chatting. I think moving forward the main group meetings are going to be
I hope the Relative Valuation lesson was helpful. If you have additional questions, email jpeter73@lion.lmu.edu
âšHighlights of the Week:
Brandon Firth and Max Baker: Great job yâall. As Freshmen, what you are doing is super impressive and if you guys keep it up, it will pay off down line.
Thank you to those who are communicating with me when you cannot make it meeting. It means you are engaged and I appreciate it.
Kyle Kinnane: Writing Max Bakerâs spotlight (link will be up soon) and having some great ideas in the Venture Group.
đźWhat to Look forward to:
If you want to work with venture group, contact woxley@lion.lmu.edu. We are doing a project for a company that operates a Peer-to-Peer lending marketplace to develop a new product. The company we are working with has raised over $20 million to date.
We are in communication with a few more seed funds and startups that we may work with as well.
We have no Wednesday meeting!!! But have, Beth Bruni, an alumnus working as a MBA Consulting Intern, in the US Dept. of State. coming into to chat on Thursday @ 5:30pm
We will be doing a competition on Thursday after Beth speaks for a clubhouse invite - the competition is TBD. We will announce it later in the week.
Quote of the week:
"It took me...
â
200+ articles before I got a book deal.
250+ articles before I got major media coverage.
100+ interviews before my book hit the bestseller list.
â
You need a lot of shots on goal. Not everything will work, but some of it will.
â
Keep shooting."
James Clear, author of Atomic Habits, who writes a weekly newsletter called 3-2-1. Sign up here