Blake Bogart

Responsible resource development advocate. Science loving enthusiast. Fly-Fishing wizard. Hockey player. Husband. Father. Brother.

[Fran Walsh @FranWalsh73]

Millions of parents are sitting out Trump Accounts because of one misconception.

"It's only for newborns."

Wrong. Any child under 18 qualifies. Contributions open July 4th. The portal opens July 5th.

Here's everything you need to know before the window opens: ↓

[The Vigilant Fox 🦊 @VigilantFox]

Joe Rogan just revealed that presidents and former presidents personally pressured Spotify to have him removed for "vaccine misinformation."

And not one of them apologized when his questions turned out to be right.

He says he still can't talk about most of it. What he will say is that the campaign was coordinated, expensive, and came from the very top.

ROGAN: "They tried to crush my sponsors. They organized campaigns. There was PACs involved."

ROGAN: "I can't even talk about it. But there was presidents involved and former presidents involved that were contacting Spotify. Trying to get me removed for vaccine misinformation."

ROGAN: "And it turned out to be right. All of it."

ROGAN: "Not a single apology from anybody. Not a single retraction, not a single mea culpa, not a single 'we were wrong.'"

The pressure failed. Joe's audience grew. And the people who tried to silence him never had to answer for any of it...

[60 Minutes @60Minutes]

Mountain Pass, California, once led the world in rare earth production. But as mining and processing shifted to China, the mine shut down. Years later, a hedge fund manager saw a chance to revive it. https://t.co/gyc9jVKAsO

[MINING.COM @mining]

US launches $500M initiative to bolster critical minerals supply chain https://t.co/jg8ZMxtJWB

[907Honest @907Honest]

Analysis of the Alaska Permanent Fund Investment in Three Bears Alaska

Executive Summary

This briefing document examines the strategic investment made by the Alaska Permanent Fund Corporation (APFC) in Three Bears Alaska, a regional grocery and retail chain. Orchestrated through the Alaska Future Fund and managed by Barings LLC in partnership with Westward Partners, this multimillion-dollar acquisition of a strategic minority stake represents a significant shift toward in-state capital deployment. While the investment has fueled a rapid statewide expansion—including new store constructions and the acquisition of existing fuel and supply businesses—it has also generated controversy. Critical concerns center on a lack of transparency regarding the public fund's involvement and early financial performance data showing that in-state private equity investments are currently underperforming compared to global benchmarks.

Investment Framework and Mechanism

The investment in Three Bears Alaska is the result of a structured program designed to stimulate the Alaskan economy using state-managed funds.

The Funding Source: The investment was made by the Alaska Permanent Fund Corporation (APFC), the entity responsible for managing the state's $70+ billion savings account. It is distinct from the Permanent Fund Dividend (PFD) program itself, though it utilizes the capital that generates those dividends.
The In-State Mandate: In 2018, the APFC board established a 200 million in-state investment program. Half of this capital (100 million) was allocated to the Alaska Future Fund.
Management and Partnership: The Alaska Future Fund is managed by Barings LLC, a global investment firm. To facilitate the Three Bears deal, Barings partnered with Westward Partners, a private equity firm based in Seattle.
Execution: In February 2022, this partnership acquired a strategic minority stake in Three Bears Alaska, transitioning the company from a traditionally family-owned, mid-sized chain into a private equity-backed enterprise.

Operational Impact: Rapid Statewide Expansion

The injection of private equity and Permanent Fund capital transformed Three Bears Alaska’s growth trajectory, enabling a "massive statewide expansion and buying spree."

New Infrastructure Development

The funding supported the construction of new retail outlets in several key Alaskan locations:

North Pole
Eagle River
Cooper Landing
Saxman

Strategic Acquisitions

Beyond organic growth, the capital allowed Three Bears to acquire established local businesses, diversifying its portfolio and footprint:

Unalaska: Acquisition of a supply store.
Delta Junction: Acquisition of a gas station and mini-mart.
Fairbanks Area: Acquisition of multiple Sourdough Fuel convenience stores.

Critical Challenges and Public Controversy

The involvement of the Permanent Fund in a private retail business has met with significant public and political scrutiny based on two primary factors.

1. Transparency and Disclosure Issues

The "secretive" nature of the rollout drew criticism from Alaskans and state politicians.

Delayed Disclosure: While the recapitalization of Three Bears by Westward Partners was announced in early 2022, the APFC’s specific financial involvement was not officially disclosed until early 2023.
Private Equity Secrecy: The standard confidentiality of private equity deals clashed with public expectations for transparency regarding the use of state funds.

2. Financial Performance Concerns

The APFC’s primary mandate is to maximize returns through global investments. However, early data has raised questions about the efficacy of the in-state strategy:

Bottom Quartile Ranking: Internal staff assessments in early 2023 indicated that the Alaska Future Fund’s in-state private equity investments were ranking in the bottom quartile of the APFC's overall investment portfolio.
The "Long View" Argument: Fund managers and financial advisors defend the current performance, asserting that private equity ventures require a horizon of at least three to five years before their success or failure can be accurately measured.

Strategic Outlook

The investment in Three Bears Alaska serves as a high-profile test case for the APFC. It highlights the ongoing tension between two objectives:

Economic Stimulation: Leveraging state wealth to grow local Alaskan businesses and infrastructure.
Fiduciary Responsibility: Ensuring the Permanent Fund generates the highest possible returns to sustain the state's primary savings account.

The ultimate success of this initiative will be determined by whether the current expansion translates into long-term financial returns that justify the initial underperformance and the move away from traditional global investment strategies.

Personally I am a huge fan of 3 Bears and I think it is a great use of the PFD as an investment.

[907Honest @907Honest]

THE PFD FILES THREAD

Please see the comments

[U.S. Department of Energy @ENERGY]

🚨WATCH: @SecretaryWright on @FoxBusiness discusses rare earth mining, fast-tracking projects, and unlocking Alaskan energy dominance.

[Fernando Cao @thefernandocz]

Elon Musk just stole 18 of Mark Zuckerberg's best AI engineers.

Zuckerberg offered his engineers $250 million each to stay at Meta.

But Elon gave them something money couldn't buy, and they abandoned Meta immediately.

Here's the offer that Zuck's own team couldn't resist:

[U.S. Department of Energy @ENERGY]

🚨 “This DOE is in the business of security. The focus has shifted from sustainability to sovereignty, from emissions reduction to supply chain fortification.”🚨 https://t.co/E43ViFwLk0

[Rod D. Martin @RodDMartin]

🚨BREAKING: The Pentagon is becoming the largest shareholder in an American rare earth mining company.

This is one of the biggest moves yet to decouple from China—and it's a Trump administration masterstroke.

Here’s what just happened—and why it matters 🧵

[Jim Risch @SenatorRisch]

The era of weaponizing NEPA to stall critical projects through activist litigation and red tape is over.
https://t.co/FAR2omp52x

[Robert Friedland @robert_ivanhoe]

US aims to fight China’s control of minerals by investing in miners https://t.co/wqcoeGZiFr

[Robert Friedland @robert_ivanhoe]

Immediate Measures to Increase American Mineral Production

https://t.co/FVzdMU6nF4

[Wide Awake Media @wideawake_media]

In light of what has transpired since, Paul Harvey's eerily accurate 1965 prediction about society's planned decline managed to shock even Joe Rogan.

[Amjad Masad @amasad]

3 minute tutorial on making apps with Grok 3 and deploying instantly with Replit.

[Simon Moores @sdmoores]

The Minerals of the Future…

@benchmarkmin x @VisualCap / @VCElements

Copper
Lithium
Nickel
Rare earths
Phosphate
Graphite
Manganese

https://t.co/Qkr1za20mo

[Blake Bogart @BlakeWBogart]

@CollinRugg What a dumbass, he could have went to Alaska and got the same result….he could have sat first class the whole way and not even hit the $5k mark….

[Pete Stauber @RepPeteStauber]

This National Miners Day, we celebrate the miners whose hard work powers our nation and boosts our economies. Mining is our past, our present, and our future - and because of Minnesota’s miners, I know our future is bright!

[Autism Capital 🧩 @AutismCapital]

🚨ELON MUSK ON RIDICULOUS REGULATIONS 😂😂

"SpaceX had to do a study to see if Starship would hit a shark. I'm like "It's a big ocean, there's a lot of sharks. It's not impossible, but it's very unlikely." OK fine, we'll do it, but we need the data, can you give us the Shark data?

They said no.

They said they could give the data to their Western division but they don't trust them.

We're like, 'Is this a comedy?' Eventually we got the data, and the sharks were going to be fine.

We thought we were done.

But then they hit us with: 'Well, what about whales?"

When you look at the Pacific, how many whales do you see? Honestly, if we did hit a whale, the whale had it coming, because the odds are so low. It's like Final Destination: whale edition.

So then we had to do the WHALE analysis.

It goes on and on.

They said, what if the rocket goes underwater and explodes and the whales get hearing damage?

Umm, If we could make a rocket go underwater and become a submarine, that would be a feat of physics that we could not accomplish.

It's just one crazy thing after another.

So yes, I really feel the pain of Government overregulation."

[Paola Rojas 🐝 @paola_rojas]

In every single EV, there are about 185kg of minerals.

Graphite, copper to lithium and more, each fulfilling a distinct function.