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What We're Talking About on Whatsapp: ⭐ Spending on AI computing remains strong, with NVIDIA sales forecasts for Q2 shattering estimates (again). https://lnkd.in/gZK34pn5Acquired is one of our favourite podcasts, and they have finally tackled Microsoft. When Microsoft IPO’d in 1986, their market cap was only $750M despite having done $200M of software revenue in the LTM and growing 100% YoY. Microsoft is now 49 years old, and the most valuable company in the world. https://lnkd.in/gNU9EmMK ⭐ Is the luxury boom slowing down? LVMH’s first quarter revenue dropped by 2% year over year, with the biggest drag on revenue from wines and spirits. Declining demand for champagne reflected normalisation of post COVID demand. https://lnkd.in/ggaGDfdr. ⭐ Jeremy Giffon was the first employee at Tiny Capital, a business aggregator that turned ~$5M into ~$500M in 10 years. He joined the My First Million guys to talk through his journey and what he learnt along the way. We agree with his view that the cold email is an asymmetrical trade – it generates huge opportunity with limited downside. https://lnkd.in/gStgEiSHKmart’s own brand label Anko was first registered in 2017 and is stamped on 85 per cent of own brand products the retailer sells. It is now also powering the group’s growth, as local success at Kmart Australia and New Zealand has seen Anko expand to both domestic and international markets via strategic retail partnerships. https://lnkd.in/gKHqzZwq ⭐ Private Equity and Venture Capital have performed strongly over the last decade, outperforming public markets by returning 16% to investors over 10 years compared to 8% for the ASX300. Australian products have performed particularly well relative to global peers. https://lnkd.in/gCGrmVPp

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