๐๐งโ๐ One Small Step for Bezos
This weekโs newsletter is all about wealth allocation. With the two billionaires (Richard Branson and Jeff Bezos) heading off into space these past few weeks, it started to bring up many questions - especially on social media.
Does being wealthy mean you have a greater responsibility for the world? The uproar on social media is that billionaires should use their wealth for social good rather than compete in what seems like a d*ck-swinging space race.
The truth is, there are hundreds of billionaires that are accounted for, and many more that are unaccounted for. Not everyone is helping humanity with their wealth, and while thatโs their choice, is it the right choice?
If youโre in that position of wealth, I think you then shoulder a moral responsibility to give back a small % of your wealth back to the society and planet that put you in that position. Even just 1% of your wealth when you have a billion dollars is $10 million dollars and can make a greater impact on the local community or problems that humanity faces (disease, climate, lack of shelter/water). Iโd like to be optimistic to think that most billionaires are doing this already, but if they arenโt - itโs not my place to police how they should allocate their funds either.
So what would you do? For now most of us are still in the wealth accumulation / getting to financial independence phase, so donating a percentage of our hard earned $ can be trying at times, and I totally understand that donating is a low priority when it comes to getting to financial independence.
Thanks for reading, next week weโll have more actionable tips and information to help you save and allocate your money properly, so stay tuned.
Humphrey
In the Markets
Crypto is taking a huge hit this week, and the market has flat-lined since June. The S&P and Dow are back to hitting their stride after being shaky earlier in the week. Upcoming this week we have a big earnings week, notables include Amazon, Tesla, and Apple.
Upcoming Earnings
Weekly News Roundup
In a key milestone towards Amazonโs push to make space tourism viable, Bezos along with 3 other passengers took off early Tuesday morning and landed successfully 10 minutes later.
HY: Covered this in the intro. Great to make progress in terms of humanity, bad look in terms of on-Earth affairs.
OPEC, Allies Agree to Boost Oil Output as Demand Roars Back (WSJ)
OPEC and Russia agreed to unleash millions of barrels of bottled-up crude over the next two years. Oil prices eased in anticipation of a deal as Brent and WTI fell 5%.
HY: This should mean our gas prices in the United States drop as a result of increased supply *crosses fingers*.
Biogenโs Controversial Alzheimerโs Drug Generates $2 Million in Sales in First Few Weeks (CNBC)
Aduhelm, which was approved by the FDA on June 7, 2021. According to the Q2 earnings, the companyโs controversial Alzheimerโs drug did so well that they increased previous revenue estimates for the year.
HY: With the theme of this weekโs newsletter, most diseases could have significant progress made on them with enough resources and funding. If all countries and their governments dropped what they were doing and focused just on Alzheimers for a year - progress could be made. But the reality is that wonโt happen unless it threatens humanity/daily life like the Coronavirus did.
In Case You Missed It
Ok these two videos didnโt do *amazing* on YouTube but the Lowest Lease Payment + The Robinhood IPO video are some of the most well researched videos Iโve made. If you are looking to lease a car, make sure you bookmark the car lease video as it will help in the future and has helped me save a bunch of money. The Robinhood IPO is an interesting video if youโre looking to learn how to analyze a company when investing. I am staying away from the Robinhood stock on IPO day because I think the risks outweigh the benefits, the main risks being: day trading frenzy seems over, regulatory risks they face, as well as their main revenue source can be taken away in the future (Payment For Order Flow).