Happy Monday. Yes, Monday. Last week refused to quit, so we gave the news an extra day to settle.

Start with New York. The Knicks won it all. This is their first title in over 50 years. The city's been one long block party since. I'll be running things from New York this week, which feels about right.

The markets had their own fireworks. SpaceX went public Friday in the biggest IPO ever. For years, the only way into that rocket was to be on the inside. Now, there's a ticker where the velvet rope used to be.

We had our own reason to celebrate. We launched our 100th property last week, and it sold out fast. When Joey and I started mogul, that number lived in a pitch deck. Now, it's just the count.

And we're not easing off. Four new properties go live this week. Be early.

- Alex Blackwood

🏀 New York Knicks Pull Off Miraculous NBA Finals Run: The Knicks are being hailed for one of the most dramatic turnarounds in NBA Finals history after a series of clutch performances and unlikely heroics pushed them to the brink of a championship. Players like OG Anunoby emerged as key figures in the team’s emotional playoff surge, fueling belief that New York may be witnessing its greatest basketball miracle in decades. It was electric. 

⚽ 2026 FIFA World Cup Shines Global Spotlight on Mexico’s Cartel Crisis: As Mexico prepares to host matches for the 2026 FIFA World Cup, growing concerns over cartel violence and security are drawing international attention. Officials are under pressure to protect tourists, players, and infrastructure while showcasing the country on one of the world’s biggest stages amid ongoing organized crime challenges.

⚔️ Anthropic and OpenAI Clash Over the Future of AI: Tensions between Anthropic and OpenAI are escalating as the two leading AI firms compete for talent, funding, customers, and dominance in the rapidly expanding artificial intelligence industry. The rivalry reflects a broader battle over how powerful AI systems should be developed, controlled, and commercialized as billions of dollars pour into the sector.

The $75 Billion Liftoff: Market History Rewritten

On Friday, June 12, 2026, the financial world witnessed a milestone that will be studied for decades. SpaceX’s highly anticipated debut on the Nasdaq successfully raised $75 billion, officially cementing it as the largest initial public offering (IPO) in history, easily dwarfing the previous record held by Saudi Aramco. Opening at $162 per share, a significant premium over its $135 fixed price, the stock ticker "$SPCX" became the gravitational center of the entire market. As shares traded hands in record volumes, the event functioned as more than just a capital raise; it served as a definitive "Netscape moment" for the burgeoning space economy, signaling that the sector has transitioned from a government-led project into a massive, commercially viable pillar of global finance.

Beyond the Rocketry: A Three-Pronged Business Model

The frenzy on the trading floor was driven by a sophisticated understanding of SpaceX’s unique structure, which investors are now analyzing as three distinct businesses rather than a single rocket company. The Space division continues to secure lucrative national security and NASA contracts. The connectivity arm, Starlink, has emerged as a massive cash-generator, accounting for over 60% of the firm's total revenue. The third pillar, the integration of AI-focused orbital data centers, is what analysts call the "trillion-dollar multiplier." By promising to combine satellite-based internet with space-hardened AI compute, SpaceX has effectively pitched itself as the essential infrastructure provider for the next century of digital evolution.

The "SpaceX Mentality": Minting a Wave of New Millionaires

Beyond the market tickers and valuation charts, the IPO has triggered a profound shift in the labor market. With over 4,400 current and former SpaceX employees expected to become millionaires, the exit of this "brain trust" is set to spark a surge in commercial space entrepreneurship. Venture capitalists are already tracking a "recycling of wealth," where former SpaceX operators are expected to launch dozens of new startups, self-funded by their IPO proceeds. This cultural ripple effect is exactly what institutional investors were betting on: the creation of a self-sustaining ecosystem where SpaceX acts as the anchor tenant for a multi-trillion-dollar space industry.

The Griffin is a brand-new seven-bedroom cabin in Broken Bow with a purchase price of $1.9 million. The third-party appraisal came back at $2.17 million. Because the purchase utilizes debt, that built-in gain works out to a 31.5% day-one value growth on your equity. 

And this isn't theory. The Bosworth, our other Broken Bow property, is expected to send investors its first distributions this month. Broken Bow isn't a bet on tourists showing up. 2 million people travel there every year. That steady demand is what we underwrote against, for a projected 7.15% first-year cash yield on $262,000 of income.

If you missed The Bosworth and want to invest in our next flagship offering, this is your chance.

Thompson isn't an art critic. He's an economist who wandered into the auction houses and started asking the question nobody in the room wanted answered: why does art cost what it costs?

The title comes from the Damien Hirst shark floating in a tank that sold for $12 million, and the book is Thompson patiently pulling that thread until the whole thing unravels.

His answer is almost rude in its simplicity. A contemporary masterpiece is part object, part status symbol, part brand. Galleries, collectors, auction houses, and the press don't really discover value; they manufacture it. Once an artist becomes a name you're supposed to own, the price stops answering to anything you'd recognize as fundamentals.

What stuck with me is how familiar it sounds. Narrative drives demand. Reputation turns into an asset you can borrow against. Get enough of the right people nodding along, and the number keeps climbing, whether the rest of us follow the logic or not.

 ⭐ 4.6 / 5.0 in my book (its a work of art)

Lungfish can survive droughts by burying themselves in mud and going dormant.