Note to Peloton Subscribers – I have sold 35 percent of StitchFix position.
It’s raining this morning in Amsterdam, but I did have five straight great days of weather. I was out visiting with Social Leverage portfolio company Secfi today which is growing fast. The Secfi office is in a building called TQ (A 5 story workspace for startups in the center of town) started by the founders of The Next Web. They have done a fantastic job helping build a startup ecosystem in Amsterdam. The IPO of payment company Adyen (now at $17 billion) will only help Amsterdam grow as a global hub of fintech startups.
Catching up on the markets…
Other than weed stocks going up and Tesla going down, the market news was dominated by Nike. The stock was down 3 percent. There were more sellers than buyers though opinions were flying about the demise of the company over an ad campaign. Nike might or might not hate Fat Nixon, but at minimum, by throwing their hat in the political ring, they are comfortable calling him a bully and a putz.
I think my friend Ramp Capital has the best 2018 take on the stock:
<Burns Nike shoes>
<Gets on Instagram>
<Sees ad for cool new Nike shoes>
<Buys new Nike shoes>
Thanks for playing.$NKE
— Ramp Capital♿️ (@RampCapitalLLC) September 4, 2018
Elsewhere in dumb mainstream business reporting…
See this investing wisdom from CNBC:
Because, you know, investing is easy.
The Wall Street Journal calls them ‘A Blood Test Company’. I call them a fraud that used blood testing as a vehicle to perpetuate a fraud.
Not sure why the mainstream media won’t call the obvious by the obvious.
Here are all the business publications who gushed about Liz and Theranos along the way.
In this era of incredibly abundant expert mentorship and wisdom, it’s up to each of us to build and nourish our own networks, constantly be curating, turn off the TV, book some profits and respect the markets.
Also published on Medium.