📈 Figma's 250% Day-One Surge

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Good Morning & Happy Frida!

Markets are rattled as Trump slaps Canada with steep tariffs, Figma stuns with a record-breaking IPO, and Amazon’s earnings beat isn’t enough to stop a 7% slide. Plus, the jobs report looms, and in investing: passive strategies, buy-and-hold outperformance, and why even millionaires still miss the basics.

Grab your Flat White and let’s get into it. ☕️ 👇️ 

His First Venture Sold for $120M – This Time is Different

Austin Allison is familiar with using tech to disrupt real estate – his first venture, dotloop, was acquired for $120M. But despite bringing industry fame, one nagging regret remained.

"I always wished we gave retail investors the chance to invest in dotloop and share that success," Allison later said.

Now he’s doing just that. Austin built upon that experience to launch Pacaso, the co-ownership marketplace disrupting the $1.3T vacation home industry. And it’s working.

They’ve surpassed $110M in gross profit to date, including 41% YoY growth last year. They’ve earned backing from firms like Maveron and Greycroft. They even reserved the Nasdaq ticker PCSO. And unlike dotloop, you can become an investor in Pacaso as a private company.

Invest today at $2.90/share.

Invest in Pacaso today.

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com.}

Market News

🇨🇦 Trump hikes tariffs on Canada to 35%
Trump just dropped the hammer on global trade, again. The White House laid out sweeping new tariffs Thursday night, as the August 1st deadline was hit. Canada? Now facing a 35% hit, tied to an executive order on drug enforcement, and it kicks in Friday. Markets didn’t take it lightly. Dow, S&P, and Nasdaq futures all dipped 0.4% to 0.5%, reacting to the shakeup. This move marks a major escalation in Trump's plan to remake trade from the ground up.

💼 What To Expect From Friday's Jobs Report
Job growth is slowing, and trade tensions might be to blame. Forecasters expect just 100,000 new jobs in July, the weakest pace since October, as Trump's ongoing trade war weighs on hiring and confidence. Unemployment may tick up to 4.2%, signaling a labor market that's neither booming nor collapsing, just losing steam. The Fed held rates steady this week, but slower hiring could force a cut soon if the trend continues.

🖼️ Software Maker Figma Surges 250% in Debut After $1.2 Billion IPO
Figma just shattered records in its Wall Street debut. Shares soared 250% from the IPO price, closing at $115.50 and giving the design software firm a $56.3B valuation, nearly triple what Adobe had offered before their $20B merger collapsed.

It’s the biggest first-day IPO pop in over 30 years for a U.S. company raising $1B+. CEO Dylan Field’s stake? Now worth around $6B, with performance-based awards kicking in if shares stay hot.

🛍️ Amazon Stock Tanks 7% as Weak Guidance Casts Shadow Over Earnings Beat
Amazon crushed Q2 earnings, but Wall Street wasn’t feeling it. The company posted a double beat with $167.7B in revenue, yet shares slid nearly 7% after-hours on a soft Q3 profit outlook that fell short of sky-high expectations. AWS stayed solid, bringing in $30.9B, but margins slipped. With AI spending surging 83%, profitability took a hit, and investors noticed.

Invest & Strategies

💰️ Even Multi-Millionaires Can’t Get This Basic Idea Right
Even with millions in the bank, some folks still miss the most basic rule of personal finance. This post breaks down the simple concept that trips up even the ultra-wealthy, and why getting it wrong could cost anyone.

🤔 Institutions Can’t Beat A Basic Buy and Hold Allocation
What if your high-fee institution is losing to a basic buy and hold portfolio? Meb Faber just dropped numbers that’ll make you question why you’re paying for “expertise.” Nine major players, outperformed by a simple asset allocation anyone can build at home.

🥱 The Risks of Passive Investing
Contrary to the story above, this article highlights the risks of passive investing. Think passive investing is the easy win? Think again. This deep dive cuts through the hype to show why “set it and forget it” might not be the magic bullet it’s cracked up to be. From hidden risks to behavioral traps, this piece challenges everything you thought you knew about index strategies.

🕛️ No Asset Is Safe, But Some Lose Less
In a world where no asset is truly safe, the question isn’t what protects you, it’s what bleeds the least. From gold to government bonds, the usual safe havens are showing cracks, and this piece dives into what’s actually holding up when everything else falters. If you’re rethinking your “low-risk” bets, this is the read you need.

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