TOGETHER WITH

Hey there weekday warrior,

Why StubHub, why?

Enjoy the next 4 minutes and 17 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

– tyler

Concerted effort

Her: "I like men who take risks"

StubHub: "We're going to go public in 2025 with pretty mediocre financials"

It's not entirely clear why, but StubHub, the online ticket scalping reselling platform, has decided to IPO. Arguably the only redeeming part of the announcement was that they'd secured STUB as their ticker symbol.

How bad is it?

StubHub lost $2.8M on $1.77B in sales in 2024 after turning a $405M profit in 2023 on $1.37B in revenue.

Oh, and it's sitting on a f*ck ton of debt. $2.385B to be exact. You might recall that its founder bought the company back in February 2020. Yes, that’s right, this dude spent $4B on a live event ticketing site a month before the pandemic.

Speaking of founder Eric Baker…

Even if you can get over the financial situation, here's your friendly reminder that not all shareholders are created equal. The S-1 pointed out that Baker controls ~90% of The 'Hub’s voting rights. And that his shares are likely to be very different than all the peasants out there (think: more voting rights).

F*ck it, we'll do it live

Meanwhile, the live event industry has been taking its lumps. Concerts, sporting events, and other IRL events came in hot following the pandemic. But soaring prices (and fears of an 'r-word') have got The Street's Spidey Senses tingling. Exhibit A: shares of Vivid Seats $SEAT ( ▲ 5.88% ) , a StubHub competitor, have fallen by 50% over the last 12 months.

Not to mention, ticket sellers and resellers have a target on their back (thanks a lot, Live Nation/Ticketmaster) related to high fees and (alleged) lack of competition driving prices up. You might recall the DOJ brought an antitrust suit against Live Nation after butthurt T-Swift fans called bullsh*t on ticketing practices.

Zoom out

That’s saying nothing about the brutal IPO market. Last week, Klarna showed that you have to be truly innovative if you hope to have a chance at a successful IPO in 2025 (see: financing Taco Bell orders).

BOXABL officially reserved NASDAQ stock ticker symbol BXBL…

BOXABL is the home construction company bringing assembly line automation to the home industry. With their patented technology and 53 patent filings, BOXABL believes they have the potential to disrupt a massive and outdated trillion-dollar building construction market. And they just reserved the ticker symbol BXBL on Nasdaq.

Most houses take seven months to complete. BOXABL can put one out of the assembly line every four hours, including electrical, HVAC, and plumbing! Now, the company is raising funds and has made shares available to the public, but the round is closing soon on StartEngine.

Currently, shares are being offered at $0.80 per share. With a $1,000 minimum investment, you can join 40,000 investors to help solve the housing crisis.

Time is running out to invest in BOXABL on StartEngine.

*This is a paid advertisement for Boxabl’s Regulation A offering. Please read the offering circular here. This is a message from Boxabl.

+ “I feel the need. The need for speed.” - Boeing shareholders

Boeing $BA ( ▲ 0.23% ) just notched another big W. Mere moments after those stranded astronauts landed safely (thanks, SpaceX), Donny Defense gave Boeing another chance to lock in with a big a** defense contract. Shares were already on the rebound as the ISS drama came to a happy ending. Now the 737 Max maker (people don’t forget) have a chance to deliver some serious shareholder value. They’re gonna write books about this corporate turnaround.

#47 awarded Boeing the coveted contract to build the Air Force’s newest fighter jet: the F-47. Details on the deal aren’t available just yet, but it’s been estimated that the project could cost around $50B. The new jet, which had d*mn well better make an appearance in Top Gun 3, is the USAF’s most sophisticated fighter yet, intended to replace the F-22. Meanwhile, the folks over at Lockheed Martin $LMT ( ▲ 0.94% ) (and LMT shareholders) just got ejected at Mach 3.

+ No ulterior motive detected.

Elon led an all-hands company meeting at Tesla $TSLA ( ▲ 5.33% ) that gave off the same vibez as that one leaked Howard Stern meeting. Musk told employees to hodl their stock after a brutal 50% free fall over the last 3 months. 

“There are times when there are rocky moments. But what I’m here to tell you is that the future is incredibly bright and exciting, and we’re going to do things that no one has even dreamed of.” - Elon at this meeting + me when my wife sees how much we spend on Zyn pouches each month.

Meanwhile, the pivot to end all pivots is in full swing. Tesla is looking to build its first 5k Optimus humanoid robots this year, with a goal of scaling to 50k units per year in 2026.

+ And the award for most ironclad prenup of all time goes to…

Jeff Bezos and Zuck’s crush (Lauren Sanchez) are finally tying the knot this June in Italy (on their $500M yacht.) Invites just went out, so check your inbox. Fine, I’ll go, but I give a smaller gift for destination weddings.

+ Yahoo (via its parent co. Apollo Global Management $APO ( ▲ 2.28% ) ) is selling TechCrunch to private equity firm Regent. No word on terms… but TechCrunch was at least paid enough to have AI write this press release. 

+ OpenAI and Meta $META ( ▼ 0.35% ) are fighting over a partnership with India’s Reliance Industries $RELIANCE.NSE ( ▼ 0.28% ) (and its planned three-gigawatt data center) to bring their AI to the most populated country on Earth.

+ US stocks “climbed into positive territory on Friday as investors weighed mixed messages from the Federal Reserve while President Donald Trump indicated he'd retain 'flexibility' when it comes to a reciprocal tariff plan set for April 2.” (Yahoo! Finance)

+ The 10-year yield “ticked higher on Friday amid ongoing uncertainty looming over the U.S. economy and inflation levels as President Donald Trump presses ahead with his tariff campaign.” (CNBC)

+ Oil “prices settled higher on Friday and recorded a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter supply.” (Reuters)

+ The three most talked about stocks on WallStreetBets in the past 24 hours were: 1) Visa -1.1% 2) Nvidia -0.7% 3) Hims & Hers Health +5.7%

⏪ On Friday…

+ NIO and Carnival dropped earnings before the bell

⏩ Today we’re keeping an eye on…

+ Intuitive Machines drops earnings before the bell

+ Oklo reports after the bell

+ DoorDash, Williams-Sonoma, Expand Energy, and TKO Group officially join the S&P 500 Index to replace BorgWarner, Teleflex, Celanese, and FMC

Friday, I asked, “Which of the professional services is most likely to make their job their entire personality?”

31.21% of you chose Lawyer.

Here’s what some of you guys had to say…

• Lawyer: “No one loves to 'S' their own 'D' more than a pack of lawyers. ”

• Consultant: “Their self-importance is limitless”

• Banker: “They're all nerds, but a banker can't wait to tell you how he's the VP of Retail and Director of Pre-Owned Vehicle Lending for the South East Region of West New York”

• Accountant: “Nary a hair out of place. Anal retentive. The only difference between an accountant and an actuary is that an accountant doesn't look at your feet when speaking to you.”

And here’s today’s question…

Oh, and one more thing…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of an individual who is financially irresponsible/dumb enough to be talked into spending money on a family photo shoot that he could have just done with his iPhone. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.