šš Bitcoin Goes Back to the Classroom
Happy Sunday! I hope you had a pleasant weekend. Yesterday was 9/11 and I wanted to at least take a moment and remember all those fallen on that tragic day, 20 years ago. I was able to see a lot of powerful videos and messages throughout Social Media & Traditional Media yesterday, and my condolences go out to anyone who has been directly or indirectly affected by the events that day.
Today I wanted to talk about Rejection. Iāve been directly rejected for jobs, directly rejected in love, and indirectly rejected by entrepreneurial failures or videos that flop more times than I can count.
When I was younger, rejection hurt a lot. It still hurts to this day, and some rejections hit harder than others. However, one thing I have learned is that as you move past rejection - thereās always something to look forward to in the future.
I think a big change in my mindset was to learn to not dwell on rejection, but rather accept it (as it happened already) and move on.
Itās natural to hate rejection. Thereās a reason why we feel the need for acceptance.
āOur need for connection traces way back to ancient history, when humans relied on being in groups to survive. When somebody rejects us, there's a very primal piece to it, which is that it goes against everything we feel like we need for survivalā - Lori Gottlieb
So thatās my advice. Understand rejection. Donāt let rejection stop you. Give yourself some self-care, and take the time you need to process any emotions. Talk to some friends if it helps :)
I hope you have a wonderful rest of the weekend and week ahead.
- Humphrey
In the Markets
Weekly News Roundup
Court ruling unlikely to seriously damage Appleās services business (CNBC)
Judge Yvonne Gonzalez Rogers issued an injunction that prohibits Apple from preventing developers from linking out in their apps to collect payments directly and cut out Apple and its 30% take of in-app purchases.
HY: This was a partial victory for Epic Games, but more of a victory for Apple as they werenāt ruled to be a monopoly. Itās been a long-term issue that Apple takes a 30% cut of any app payment made on the App Store, which means that companies selling anything via in-app purchases lose 30% off their topline revenue to Apple. Google does the same for their Play Store, and there wasnāt anything developers could do about it until now.
Bitcoin Drops to Lowest in Months as El Salvador Rollout Falters (BBG)
Bitcoinās biggest test of its real world usefulness happened as El Salvador attempted to roll out the cryptocurrency as legal tender. However, Bitcoin took a major hit because of technical glitches to the official digital wallet leading El Salvador to disconnect the wallet between 1 AM and 6 AM to fix the bugs.
HY: While BTC did take a hit, itās still above $45k per coin and isnāt yet a sign of the crypto market consolidatingā¦yet.
US Airlines Say Travel Demand and Outlook Have Been Hampered by Delta Variant (WSJ)
Airlines warned that the Delta variant will continue to hit profits in the month ahead. Major carriers said new travel bookings have slowed in recent weeks and cancellations have increased.
HY: After chatting with my friend in the PE industry, he thinks that the biggest effect of COVID on air travel is diminished business travel. Businesses typically donāt care what the price of business or first class seats are, and so airlines are able to charge a LOT for those seats. With less business travel, we should see business and first class fares come down - but at the expense of airlines. In the past, weāve seen the US Government bail out airlines, so Iām not really too sure how this will all play out in the next 1-3 years.
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