Coffee with Nick V 016: Elon the meme god, Luckin Coffee & window seats
hello from Long Island, NY –
we’re spending the week in Southampton for a quick getaway. the area has some beautiful homes — i plan to take some pictures and share here. i especially like older homes. stay tuned…
this week’s newsletter is a quick one. give it a read below, enjoy!
interesting things i consumed
Elon Musk’s Tesla launched (and immediately sold out) short shorts for sale at $69.420 per pair.
‘shorts’ refer to people short-selling stocks — basically betting on the price of a share going down. Musk joked that ‘Tesla will make fabulous short shorts in radiant red satin with gold trim’. though, we’ve clearly seen he wasn’t kidding. when Tesla reported better-than-expected deliveries during Q2 the stock price skyrocketed and shorts were squeezed.
the description of the shorts from the Tesla online shop:
“Celebrate summer with Tesla Short Shorts. Run like the wind or entertain like Liberace with our red satin and gold trim design. Relax poolside or lounge indoors year-round with our limited-edition Tesla Short Shorts, featuring our signature Tesla logo in front with “S3XY” across the back. Enjoy exceptional comfort from the closing bell.”
Tesla now has a larger market cap than Toyota, making it the world’s largest auto stock (by market cap).
Luckin Coffee fraud
Luckin is one of the fastest growing Chinese startups and is Starbuck’s biggest rival in China. it grew quickly from nothing to 4,500 stores and a $12B valuation over 2 years.
in January, notable short sellers were tipped off from an anonymously sent email which included a detailed report building a case for fraud at Luckin.
over 92 full-time and nearly 1,500 part-time staff surveilled the store traffic of 620 stores.
they found that Luckin was inflating its order numbers by 88%.
the company was delisted from the Nasdaq on Monday.
read the whole store here: https://www.cnbc.com/2020/07/06/investing-fraud-at-china-luckin-coffee-fraud-case-warning-for-investors.html
The Boron Letters, Gary Halbert
The Boron Letters are a series of letters written by the famous copywriter Gary C. Halbert. in the letters, Gary teaches his son, Bond, nuggets of wisdom about life, business and marketing. i haven’t finished the book yet, but i’m really enjoying it so far.
the below screenshot is a highlight of mine from a letter early-on in the series. it illustrates Gary’s take on addiction. “road work” (exercise), is a positive addiction because it improves quality of life. he talks a bit about positive addiction being a good thing. he believed health and physical fitness to be some of the most important aspects of life.
interesting pictures (& weird new obsessions)
window seats. saw someone post this on Twitter and went down a rabbit hole of researching them. they fill the recess of a window and they look extremely cozy. take a look:
interesting quote i came across
“The greatest glory in living lies not in never falling, but in rising every time we fall.”
– Nelson Mandela
that’s all for this week.
until next time,
ps if you like what you’ve read, please share with your friends. they can sign up for the list here. also, i always welcome recommendations of any books, podcasts, movies, etc. let me know!