funny how robinhood built a chain for tokenized finance and memecoins immediately took over. you'd think that's the product failing. i'm starting to think it's the opposite. speculation is probably the cheapest way to bootstrap financial behavior. users arrive for the thing moving 100% today, fund accounts, trade, build habits and leave liquidity behind. the boring assets can come later. prediction markets are showing something similar. $156m of q2 revenue for robinhood and 13.6b contracts traded. there's probably a broader lesson here: serious financial products don't necessarily need serious distribution.

🤍🫂 José Mourinho: “I like Carlos Espî! I like him a lot. We live together at Valdebebas… he’s is very funny”. “We have breakfast together every day” 😂 “We’re living there with Cucurella too! All players should know we need all of them, not 13 or 14”.

Leopold Aschenbrenner's 13F finally dropped and X is already full of the DUMBEST interpretations possible! Please read this. 1. The 13F shows what the fund held as of quarter-end: March 31. 2. A huge part of the positions are PUTS. Does this mean he's bearish today? -> WE DON'T KNOW! Everyone is just guessing. It is completely possible that he bought those puts during the quarter as the Iran war escalated, to hedge, and they increased a ton in value. They might have started as small positions that simply grew a lot. He might have sold them at the exact bottom, perfectly timed the market, and gone 100% long for the massive rally that started on April 1. OR he was insanely bearish, bought a lot of puts, kept them, and completely screwed up by being massively positioned in puts before the craziest rally ever. He could have made the most genius move or the dumbest move possible and now look like an idiot. WE DON'T KNOW. This is the issue with such delayed reports. But of course today, you will see everyone on X go crazy with: "Leopold went short aaaaaaaaaaah, the sky is falling, he's calling for a crash." But that was months ago, in the middle of the Iran volatility! We have no idea if he added to his puts or if he's currently 100% long or maybe even bought calls?! We don't know if his move was good or bad. So while you're reading all these takes on X today, know that you're going to read a ton of complete nonsense from people who have no idea what they're talking about. But here are some things that stand out to me! While he decreased his $BE exposure, Bloom Energy was still his biggest position (6.4%) Closely followed by $SNDK (5.3%) He also cut $CRWV from 8% -> 4% I honestly can't believe he missed $NBIS so badly. He also reduced his $IREN position from 6% to 3% (even though he net added shares). Big $CORZ cut aswell from 7.6% -> 3% HUGE cut in his $CRWV calls from 14% -> 1% A lot of $TE investors are getting excited he built a position, which is definitely bullish, but it's worth mentioning that was most likely before the big drop after the disappointing earnings and it's a tiny 0.3% position for him. One of the funniest positions is a 0.15% $GLW Put lol. 100% / Completely went out of: $INTC Calls (13.5% -> 0%) $CIFR (2.8% -> 0%) $EQT (2.4% -> 0%) Photonics: $LITE (8.6% -> 0%) That one is super interesting to me. Also cut $TSEM and $COHR from 1.5% -> 0%

13 - With three goal contributions from substitutes Wednesday (K. Faasee 1 goal, M. Ivanovic 2 assists), @HoustonDash has 13 goal contributions from substitutes this season, tied for third most in a single regular season in #NWSL# history (Courage 16, Gotham 14 in 2024). Depth.