Talk Money Weekly - #012
This is Issue #012 of the Talk Money Weekly. To get your mind moving on the topic of money every week, I curate and share trending conversations around money, business, current events, and pop culture from Twitter, my favorite podcasts, and other platforms.
Have you checked out our latest episode, BLACK IN BUSINESS? You can expect this level of production and storytelling for Season 3. Coming this fall. We have an incredible list of guests.
One small favor. If you're enjoying this curated list, please forward it to your friends. I would greatly appreciate it!
🎥 Sports & Entertainment:
The NBA Spent $180M to Reopen Their Economy
One could say the NBA this season was a failure due to a significant loss in viewership. One could also say it was a success in what they were able to accomplish. If we applied similar methods to the US as a whole, there's the potential to reopen without risking lives.
The NBA spent roughly $180M to keep things in order. Regular testing and controlled environments were crucial. Economist Paul Romer suggested a similar plan earlier this summer, saying that nationwide testing regularly would be essential to reopening while limiting the spread of the virus. At the time, a plan like that would cost $100B, probably more. But isn't that better than the trillions of dollar of stimulus that are merely a bandaid, and the trillions that are being lost globally? We should be looking at the NBA at what is possible on a larger front.
Are Pokemon Cards the Next Investable Asset?
Collectibles are all the rage recently. During the pandemic, I kept seeing posts about baseball cards and other collectives as the new "investable asset." Similar to fine art, these types of assets have to do with their rarity and scarcity.
Youtuber Logan Paul went down this rabbit hole with Pokemon. Did you know that the Pokemon universe is worth $95B!? I spent a few hours going through these videos.
- First: Watch Logan buy an original first edition box of Pokemon cards for $200,000.
- Then, watch him open the cards one by one on a live stream to millions of people and raises $120K for mental health awareness.
- Pokemon expert Randolph Pokemon explains that some of the values mentioned are inflated.
- THEN: He finds the rarest Pokemon card that's potentially worth $2M!
- FINALLY: The guy he buys the $150K card from was on Pawn Stars a few years back trying to sell his collection.
He believes the pokemon collectibles will be worth more in the coming years. Some say he's speculating. All I'll say is that this is fascinating.
📈Markets & Business:
Companies Should be Going Public Sooner
For years, venture capitalists have been telling founders to delay going public. Why? Because it's too much responsibility, or to avoid all the regulation, or to let information remain behind the scenes instead of the public eye. It's like kicking a can down the road.
Going public allows for early investors, employees, and founders to get liquidity. It also lets the public (us retail folks) participate in the success of amazing companies. On top of that, it gives companies access to cheaper capital and holds them accountable for how they perform as a company. It looks like the narrative here is changing. I for one, am excited about that.
Know Your Value & Charge For It
I always love people who really know their value and aren't afraid to charge for it. Let people go for the cheaper option and not waste your time if they don't believe in your value. For the ones that truly understand what you're offering, lean into it. People will pay you what you deserve and you'll weed out the ones that are a potential waste of time. You only have so many hours in the day. Maximize them.
Square Puts 1% of Cash into Bitcoin
It gets more interesting each week: Another public company, a major one, puts a portion of their assets into Bitcoin. This continues to support the argument of an inflation hedge with Bitcoin being one of the favored candidates in today's digital age.
Keep in mind that Jack Dorsey is a Bitcoin enthusiast, owns a bunch, and Square lets you buy bitcoin with their platform. Nonetheless, the more "legitimate" institutions buy bitcoin, the more prominent it becomes.
🏠 Real Estate
SF Rents are Down 30%
The same can be said in NYC. Rents are down 30% given inventory is much higher. There are buildings offering 3 months off instead of a reduced monthly rate because they don't want to bring the valuation of the buildings down. Sales of homes are not down as much.
This seems to be a trend all over the country. People want more space, for their family and for work. People are buying. With the amount of capital out there and limit places to put it, I've heard people are picking up NYC real estate to hold for the long run, including international capital. We'll be covering this topic in Season 3!
That's all for this week! I hope you enjoyed the TWELFTH issue of Talk Money Weekly.
If you haven't already subscribed to my podcast, Talk Money, do so here. Make sure you listen to our latest episode "Black in Business". Stay tuned for our trailer for Season 3 which is going to be pretty amazing. More on that soon.
Want to chat? Tweet me at @meshlakhani. If this email was forwarded to you by a friend, subscribe here for updates!