Herro, Perro! w.3

Dear Friend,

It's now August! Time is flying. Doing all the stuff, every week. Right now I'm sitting at my desk, sipping on a Pimms Elderflower mixed drink and thinking: life doesn't get much better than this. Here's what I got for you this week and it's long. Sorry, not sorry.

Arts & Culture

+Cala - I attended an event on The Future of the Fashion Industry host by Cala this week. Cala, is interesting to me as it offers an end-to-end fashion supply chain for anyone creative with a clothing/fashion idea. Seamless and simple. And I, your friend, Katelyn Donnelly, have can unshakable dream of creating tunics made out of Pirarucu leather. Because who wouldn't want to prominently feature scales from the tuna of the Amazon?

+Feeling old: It was at the Cala event that I began to realize that I am old. And out of touch. And unhip. Go to the Cala instagram or the website and look at what the young people are wearing. These youths! So many tattoos, who knows what gender, all these crazy costumes. Wow. The fashion director kept referencing how all of us (aspiring, creative designers) dream of being like Supreme. And I hadn't heard of Supreme. Read the story! So many insights. This whole retail world of street style and culture that I'd only sort of scratched the surface of before. The founder is a new hero: "Jebbia's life and business remain, for the most part, a mystery to those who aren't part of his inner circle. What's clear is that he operates on his own terms and refuses to make concessions based on what anyone else wants or does."

+Somtum Der: I've decided to add a restaurant review to the end of this section. I took an old friend to Somtum Der this week and I've probably eaten here at least 10 times. It's a completely authentic Michelin star Thai restaurant in the East Village. Dishes are not Michelin star prices. Amazing spot, great value! And we like value.

Investing & Economics

It was an incredible week for investing and economics. So many earnings being reported, fed activity.

+Amazon: I love following Amazon. The company makes huge bets. Deeply embedded and entangled in so many industries. Management is harp and smart. Read about their new idea for grocery stores - it's the future! Also, read a take on why AMZN is potentially overvalued.

+$TWOU falls 65%! I've followed 2U for a long time given the connection to education industry and knowing the founder, John Katzman. I've thought the stock was a sell since like 2015. I've told people this repeatedly, including several hedge fund investors. Until a few months ago, I looked completely foolish. BUT NOT THIS WEEK FRIENDS! Unfortunately, I have no economics at play here...there's a lesson in there somewhere. Here is an amazing analysis on why 2U was overpriced. I'm just sad I didn't see it before this week.
+Institutional Investors profile of David Swenson was great. What works for Yale, might not work for you. Good reminder to always think independently.
+Peter Thiel is on a campaign against Google selling AI technology services to China...and I think I agree with him.

+Inflation is the one of the my biggest risks right now. So to continue the macro convo from last week, I suggest this article from the SF Fed.

Entrepreneurial Pursuits

+Board Operating/System: Great second week. Work on this now at least 5 hours a day. Making progress and getting focused. Nothing terribly new to report. Enjoyed week 2 of StartUp School!

+Low-Abv drinking: We got the results of Colorfield back from Cornell. 0.99% abv, 2.85 pH (which means low risk for spoilage), and 22.6 g/L which apparently isn't 'dry' by Champagne standards. So... more work needed on the recipe but progress and testing!

+New Eames desk chair: I know this seems trivial but I needed this chair for a long time. And I didn't buy the authentic, patinaed expensive one that I sort of wanted. I bought the $25 in Brooklyn craigslist knock off. Because #capitalallocatedelsewhere

Reflections & Self-awareness

+Had a finance subcommittee and board meeting for Delivery Associates this week and was better about asking targeted questions and allowing the CEO to take ownership over his decisions, even when I have reservations about some of the details. This is one of my goals of being a better board member. At least a better DA board member.

+I'm almost done with "Hunting the Truth: Memoirs of Beate and Serge Klarsfeld". They are the most successful Nazi hunters in post WWII Europe. In one section of the book Beate who is about 30 at the time, has written several exposes on the current German Chancellor linking him to deep Nazi leadership on propaganda and strategy. To bring more attention to the evidence she commits a public act of slapping him across the face at an event. ... incredible amount of courage and conviction.

Thanks for reading, friend. Please always be in touch.