TOGETHER WITH

Hey there weekday warrior,

RIP Warren Buffett.

Enjoy the next 4 minutes and 29 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

– tyler

Succession

Listen, I hate to be that guy, but usually when a CEO suddenly announces he’s stepping down, it’s because he’s been dipping his proverbial pen in the proverbial company ink (read: an intern)…

In the closing minutes of Buffett-palooza, Berkshire Hathaway’s $BRK.B ( ▲ 1.38% ) annual shareholder meeting, the Oracle of Omaha said that he planned to ask his board to replace him as CEO with Greg Abel by year's end.

Here’s what 94-year-old Warren Buffett had to say for himself: “I think the time has arrived where Greg should become the chief executive officer of the company at year end.”

That’s right, Warren committed the corporate equivalent of Seppuku live on stage at the Burning Man of value investing in front of 40k attendees whose hearts honestly probably can’t handle this kind of excitement…

Abel-bodied

The news wasn’t exactly a surprise. Warren Buffett is probably the only dude who gets asked about his retirement more than Jamie Dimon. Not to mention, Abel, 62, was named successor back in the year of our lord 2021.

And he had already been making major investment decisions, under the supervision of Warren B. The only real question was when he’d officially take the reins.

But have no fear, Buffett-heads, Abel will carry on the missionary investing style: “Really, it will not change. And it’s the approach we’ll take as we go forward.” He’ll inherit a nearly $350B war chest that Warren and Charlie built up. No pressure…

So, how will Warren spend his remaining months years? The Oracle will “hang around” to help out. Oh, and he has no plans of winding down his $160B stake in Berkshire. Why? Because “I think the prospects of Berkshire will be better under Greg’s management than mine.”

Legend.

PS, I’ll just leave this right here…

Could this company do for housing what Tesla did for cars?

Most car factories like Ford or Tesla reportedly build one car per minute. Isn’t it time we do that for houses?

BOXABL believes they have the potential to disrupt a massive and outdated trillion-dollar building construction market by bringing assembly line automation to the home industry.

Since securing their initial prototype order from SpaceX and a subsequent project order of 156 homes from the Department of Defense, BOXABL has made substantial strides in streamlining their manufacturing and order process. BOXABL is now delivering to developers and consumers. And they just reserved the ticker symbol BXBL on Nasdaq*.

BOXABL has raised over $170M from over 40,000 investors since 2020. They recently achieved a significant milestone: raising over 50% of their Reg A+ funding limit! BOXABL is now only accepting investment on their website until the Reg A+ is full.

Invest now before it’s too late.

*Ad disclosures below

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+ “You’ll never get this.” - Borat and the Take Two team

In the least surprising news of all time, video game studio Take Two $TTWO ( ▼ 2.41% ) has pushed back the launch date of the newest installment in the Grand Theft Auto franchise. Shares plummeted 6.66%… which can’t be good.

In a short statement, the company said, “We need this extra time to deliver at the level of quality you expect and deserve.” Translation? We need more time to build even more microtransactions into gameplay.

To put things in perspective, the last GTA (#5, in case you were keeping score at home) dropped 13 years ago. For f*ck’s sake, even the trailer is going on two years old…

+ The end of an error…

Temu has officially halted shipments from China to the US, which I’m pretty sure was the only thing it did. On Friday, the US began imposing fat taxes on small dollar amount packages being shipped from the People’s Republic. And Temu went all “shut it down.”

+ How bad could Mississippi be?

+ The labor market didn’t hear no bell. Despite what your deadbeat friend says about “jobs not growing on jobbies,” employment is still humming along. The April jobs report indicated that US companies created 177k new jobs vs. 133k expected. The unemployment rate stayed steady at 4.2% and wages rose 0.2% (below expectations).

+ “I am once again asking for your financial support you to lower interest rates.” - Donald Trump

Following the better-than-expected April jobs report, #47 asked the Fed to lower interest rates… again. Trump did refrain from calling J-Poww a “major loser” (again)… but we can all agree he was probably thinking it, right?

+ Is it too soon to put Jack Dorsey in the WOAT conversation? Asking for a friend. Block $XYZ ( ▲ 1.14% ), the fintech formerly known as Square, got absolutely bundled on Friday. The 20%+ drop came after a brutal earnings report (a top and bottom line miss) and a warning that the upcoming quarter could be a bloodbath, too. It appears the CashApp has fallen out of favor with drug dealers and terror cells.

+ US stocks “rose on Friday as Wall Street digested a better-than-expected nonfarm payrolls report for April, which eased recession fears and lifted the S&P 500.” (CNBC)

+ The 10-year yield “jumped on Friday as traders cheered April’s nonfarm payrolls data that beat expectations.” (CNBC)

+ Oil “prices fell over 1% lower on Friday and recorded for their biggest weekly losses since the end of March, as traders turned cautious ahead of an OPEC+ meeting to decide the group’s output policy for June.” (Reuters)

⏪ On Friday…

+ Exxon Mobil, Chevron, fuboTV, Shell, Cigna, T Rowe Price, Eaton Corp, DuPont de Nemours, and Franklin Resources reported before the bell

+ The April US Jobs Report dropped

⏩ Today we’re keeping an eye on…

+ ON Semiconductor, Recursion Pharmaceuticals, BioNTech, Tyson Foods, and Cummins report before the bell

+ Palantir, Hims & Hers, Realty Income, Ford, Vertex, Vimeo, Diamondback Energy, and Navitas report after the bell

+ The four-day Milken Institute Global Conference will include talks from big swingin’ d*cks including Apollo Global CEO Marc Rowan, Treasury Secretary Scott Bessent, Pershing Square CEO Bill Ackman, The Trade Desk CEO Jeff Green, and Johnson & Johnson CEO Joaquin Duato

+ IBM will kick off its four-day IBM Think event

+ ServiceNow will hold its Knowledge Live event that will include a large focus on AI business applications. Analysts note the new products announcements from ServiceNow could give shares a lift.

Friday, I asked, “What do you call the vehicle that hauls freight?”

49.6% of you answered “Semi.”

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

• Semi: “Actually I call them by all 3 names. Just depends on the day. ”

• Eighteen Wheeler: “Eighteen-wheeler is the most accurate description of its physical characteristics... everyone else is kidding themselves”

• Tractor Trailer: “I work in trucking and only the old guard says semi, in the world today it's tractor trailer and 18 wheeler is for the 5-10 year olds. ”

• Semi: “Always going with the shortest word.”

• Eighteen Wheeler: “semi can be phallic, and isnt a tractor trailer used on a farm?”

• Tractor Trailer: “The vehicle that does the actual hauling is a Tractor. No other answer. ”

• Semi: “Shoutout to us heathens that also say ‘Big Rig’”

Here’s today’s question…

When a venture capitalist says he invests in people, not products… this is the ‘people’ he’s talking about…

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.

Advertiser Disclosures

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

*Reserving a Nasdaq ticker does not guarantee a future listing on Nasdaq or indicate that BOXABL meets any of Nasdaq's listing criteria to do so.