Derek Wittenberg

Finance and technology in NYC, dad, husband. Frequently seen in the park running or shooting hoops. Former drummer. @amherstcollege @yalesom

[True Ventures @trueventures]

It is with profound sadness that we share the news of Om Malik’s passing.

It’s difficult to state the impact that @om had on all of our lives at True.

Om was the first Founder we funded when we started True. In our Presidio office, Om discussed his idea for a new type of media company. That idea would later become GigaOm.

Om was a brilliant Founder, an amazing teammate and Partner at True, a prolific writer, a gifted photographer, and a sage and valuable advisor to so many in the technology ecosystem.

Om was brilliant, thoughtful, humorous, profoundly kind, and deeply curious. He was also relentless when he had an idea or story. Om was brave - he never shied away from sharing his views or pushing for the truth.

We were very, very lucky to call Om our Partner and friend at True for these last many years.

For today, we simply encourage you to take a moment to remember this beautiful soul and great thinker who was in our midst. He would ask us to slow down a bit. Om would want us to think deeper, express our love for one another a lot more.

Above all else, Om wanted us all to retain our humanity and care for each other in our brilliant quest to rebuild the world.

We love you Om.

Team True

https://t.co/0fHDlkwcx6

[Boston Celtics @celtics]

Happy Father’s Day 💚

[Joon Lee @joonlee]

Thank you to @awfulannouncing for covering my journey on YouTube.

We talked about getting laid off from ESPN, not taking gambling sponsors and building a YouTube business from scratch.
https://t.co/R1eEe4mSva

[The Boston Globe @BostonGlobe]

Day 1 of the World Cup unfolded largely without incident in Boston, easing pre-game concerns across the city. https://t.co/9XCf56Bqd4

[Jeff Goodman @GoodmanHoops]

Growing up in Boston, we're raised to hate New York teams.

Impossible to dislike this Knicks team. I've been around just about all of these players over the years, and they are so likeable.

Brunson is as selfless, high-character, humble guy as I've been around over the years.

[Sara Wahedi @SaraWahedi]

I urge you all to follow closely on what’s happening in Afghanistan today.

Residents are protesting the arrest of three women earlier this week due to ‘improper covering of their body.’

The Taliban have injured and shot protestors and started arrests.

[Simon Kuestenmacher @simongerman600]

Some good news from our friends at @barchart: Coffee just plunged (lol, see what I did here) to its lowest price since 2024 ☕️📉👍

[Old School 80s @OldSchool80s]

May 31, 1985: the film Fletch was released in theaters. #80s What is your favorite quote from this movie?

[Investment Wisdom @InvestingCanons]

"I read everything: Annual reports, 10-Ks, 10-Qs, biographies, histories, five newspapers a day. On airplanes I read the instructions on the backs of the seats. Reading is key.

Reading has made me rich over time."

— Warren Buffett

[New York Metro Weather @nymetrowx]

Friday's Weather Rating: 9/10

Okay, yes!! High temperatures reach the upper 70s with partly sunny skies, manageable dew points and a nice breeze. Some clouds are expected late (with showers overnight) but otherwise, the vibes are VERY good out there - on a Friday!!

[Vivek Garipalli @VivekGaripalli]

overheard from a fortune 20 company - ceo asked for $1 billion in AI generated opex savings at the beginning of this year.

the team as a result has spent $200 million on tokens trying to achieve those savings year-to-date, with minimal results other than some modest Cx savings and a bit of savings on engineering due to less hiring driven by coding assistants. now as back-half budgets are being reviewed, it appears that the ceo has ordered token costs to be dramatically slashed as he/she doesn't feel the ROI is there yet (for their company).

gonna be interesting to see if this is a trend amongst the rest of the fortune 500.

[Heidi @blockchainchick]

The SpaceX IPO is the most brazen retail fleecing in modern market history.

NASDAQ has REWRITTEN the index rules specifically for this listing. The 10% minimum free float requirement: gone. The 3 to 12 month seasoning period before index inclusion: cut to 15 trading days. Companies with small floats can now be weighted at 3x their actual float.

Translation: every passive index fund, every 401k, every pension is about to be force-fed SPCX whether they want it or not.

And what exactly are they buying?

Class A shares carrying ONE vote each, while Musk holds 93.6% of the Class B super voting shares at TEN votes each. That gives him 85.1% of voting power on a 42% economic interest. He cannot be outvoted. He cannot be removed. CEO, CTO and board chairman simultaneously.

For reference: Zuckerberg controls 61% of Meta. Buffett 35% of Berkshire. Musk: 85.1%.

SpaceX is also claiming "controlled company" status, exempting it from needing a majority of independent directors. Shareholders waive the right to a jury trial. They waive the right to class actions. Mandatory arbitration only, courtesy of an SEC rule change pushed through on a party line vote last September.

$1.75 trillion valuation. $80 billion raise. Largest IPO in history.

The rules of the game were quietly rewritten so one man could extract maximum capital from retail while answering to no one.

[Melodies & Masterpieces @SVG__Collection]

Sonny Rollins was the last surviving musician from “A Great Day in Harlem”, the iconic 1958 photograph by Art Kane that brought together dozens of jazz legends in Harlem.

[Derek Wittenberg @DerekWittenberg]

Wordle 1,799 5/6

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[Noel Y. Calingasan • NYC @nyclovesnyc]

Hydrangea stoop on the Upper East Side of Manhattan

[Michael McDonough @M_McDonough]

Striking ECAN chart: tomato CPI is up 297% on a 3M annualized basis. Everything else in the fresh vegetable basket is roughly behaving—tomatoes alone are doing the work.

Fresh Veg: +44.4%
Other Fresh Veg: +31.0%
Lettuce: +11.0%
Potatoes: -6.3%

[Krish Ashok @krishashok]

India makes more milk than any country on Earth. Italy has 400 cheeses. India has roughly zero aged ones. Ever wondered why?

[StoneX Group Inc. @StoneX_Official]

Crude oil extends drop as stocks, gold and FX majors all rally. Reports US and Iran getting close to a one-page memo to end the war lift sentiment.

[Oasis @oasis]

‘Some Might Say’, the band’s first UK chart topping single, was released #OnThisDay in 1995!

[Rob Bradford @bradfo]

Remember Fenway when the Red Sox beat the Yankees in the Wild Card game in 2021? This was not it.
https://t.co/Yf9TdvmPc8