🧈 Largest Spread Since 09
🧈 Largest Spread Since 09
This week's top stories for entrepreneurs turned investors, with updates on the markets, online business, real estate, startups, and crypto/NFTs.
Hi there 👋,
Bloomberg is projecting a 100% chance of a recession in the next 12 months, Americans are buying fewer items at supermarkets, but fear not as millennials continue to buy up high-end art.
MARKETS UPDATE
Just after we posted last week’s update showing an all-red day (due to the CPI report showing inflation having reached its highest YoY change in four decades) the markets did an insane 180, posting the highest intraday spread between high and low since 09:
ONLINE BIZNASS UPDATE
Ian Nuttall launches Niche Site Metrics - a database of 20K+ websites monetised with Mediavine, Ezoic, AdThrive, Media.net, Monumetric, Newor Media, Freestar, AdSense, Amazon Associates, and Shareasale. It comes with domain rating, domain age, organic traffic, estimated monthly earnings and site value. Find your next niche to attack.
Flippa launches new category-defining products: Flippa Invest (equity positions in profitable companies, for accredited investors) and Flippa Off Market which is creating the world's largest database of online businesses.
Richard Patey is back picking the top aged domains (to build content sites out on) every week:
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CRYPTO / NFT UPDATE
Magic Eden, the Solana NFT marketplace, has moved to optional royalties for buyers: ‘royalties are not enforceable on a protocol level, so we have had to adapt to shifting market dynamics’.
a16z launches Crypto Startup School, a twelve-week accelerator for startups.
IRS has given new tax guidelines where all digital assets (stablecoins, NFTs, and crypto) are set to be taxed under the same rules.
Toys R US announced in a tweet that they are releasing their own NFTs on Solana. This is after partnering with VeeFriends with their plush toys.
STARTUPS UPDATE
Jasper, the AI content platform, becomes a unicorn after raising $125M at a $1.5B valuation led by Insight Partners.
VCs are buying up public stocks as startup market stalls.
Kanye West plans to acquire the social media app Parler.
UK regulators block the $400M acquisition of Giphy by Facebook.
🦄 SEOs with Skin in the Game
​Smash Digital - a growth agency, filled to the brim with unicorn images and SEO memes. A team of SEOs with actual skin in the game, ranking their own portfolio of profitable businesses, and offering the exact same services to clients.
An agency with so much link juice you’ll need a mop and bucket to clean it all up.
​Check. Them. Out.
REAL ESTATE UPDATE
National Association of Realtors released their 3rd quarter Commercial Real Estate Report which shows the office space sector struggling with an increased vacancy rate.
Canadian luxury housing market is dropping hard. Condo sales in Toronto dropped by 42%, sale of homes priced over $1M declined by 39%.Â
Perch, which offers tools to make data-driven decisions about mortgages and real estate has raised a $4M Series A round.
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