Compound248 💰

"That thing that rich people do where they turn money into more money. Can you teach me how to do that, Jack?” - Tina Fey, 30 Rock

Jack, “With my eyes closed.”

[Compound248 💰 @compound248]

I’ve been blessed to spend time with many of the world’s great investors.

20 years ago, I made a point to hunt down the best. Many are now popular on Fintwit - Nick Sleep, Li Lu, Chuck Akre. Others should be - Chris Hohn, Larry Robbins, and more.

For🎄: 12 lessons I learned🧵👇

[Compound248 💰 @compound248]

@jstepka I hope you crush it.

[Compound248 💰 @compound248]

This Jensen clip hits different tonight.

Legit sad about this.

[Compound248 💰 @compound248]

“You’re not talking to someone who woke up a LOSER…”
- Jensen Huang

“…and that LOSER attitude, that loser premise, makes no sense to me.”

“Your premise is WRONG.”

Jensen and Dwarkesh had a MUST LISTEN thoughtful and spicy back-and-forth.

To @dwarkesh_sp’s credit, he repeatedly holds his ground against Jensen’s aggressive pushback.

[Compound248 💰 @compound248]

@rennyzucker

[Compound248 💰 @compound248]

Most importantly, has anyone checked on Tae Kim?

Prayers up, brother. 🙏

[Compound248 💰 @compound248]

This Jensen clip hits different tonight.

Legit sad about this.

[Compound248 💰 @compound248]

@mario_cibelli @Mr_Neutral_Man @WSJ Oy, don’t get him going! 😅

[Compound248 💰 @compound248]

Oh sh!t.

[Compound248 💰 @compound248]

@reidjjackson lol.

Poor guy. 😅

Tbh, this whole thing, while entertaining in a narrow sense, bums me out.

[Compound248 💰 @compound248]

😢
https://t.co/iwDYOgBBT2

[Compound248 💰 @compound248]

Oh sh!t.

[Compound248 💰 @compound248]

Welp. Damn.

[Compound248 💰 @compound248]

Bullish $GOOG. 🚀

[Compound248 💰 @compound248]

“You’re not talking to someone who woke up a LOSER…”
- Jensen Huang

“…and that LOSER attitude, that loser premise, makes no sense to me.”

“Your premise is WRONG.”

Jensen and Dwarkesh had a MUST LISTEN thoughtful and spicy back-and-forth.

To @dwarkesh_sp’s credit, he repeatedly holds his ground against Jensen’s aggressive pushback.

[Compound248 💰 @compound248]

@Randall7575 @BATMongoose Yeah, the Efforts clause makes clear WU needs to be allowed to operate the business post-close, as it see fit.

[Compound248 💰 @compound248]

5. HOWEVER, in

Section 5.03 Efforts. [see the bolded areas below]

(b) Notwithstanding anything to the contrary, nothing in this Agreement shall require Parent, any of its Subsidiaries or any of its Affiliates to (and the Company and its Subsidiaries shall not, without the prior written consent of the Parent) (i) divest or hold separate any assets, voting securities, entities, or business lines of Parent or any of its Subsidiaries or Affiliates or of the Company or any of its Subsidiaries, (ii) terminate or modify any existing relationships or contractual rights of Parent or any of its Subsidiaries or Affiliates or of the Company or any of its Subsidiaries, (iii) (A) limit the conduct or actions to be taken after the Closing of Parent or any of its Subsidiaries or Affiliates or of the Company or any of its Subsidiaries or (B) modify any of the business or operational practices of Parent or any of its Affiliates or the Company or any of its Affiliates or (iv) enter into a consent decree or order requiring the divestiture, licensing or holding separate of any assets or voting securities or the termination or modification of existing relationships and contractual rights. [emphasis added]

[Compound248 💰 @compound248]

@jonkessler20 Anyone who benefits if Nvidia slows down or loses some of its $TSMC allocations.

[Compound248 💰 @compound248]

Bullish $GOOG. 🚀

[Compound248 💰 @compound248]

Oh sh!t.

[Compound248 💰 @compound248]

@Mr_Neutral_Man @WSJ Tell it to the WSJ.

[Compound248 💰 @compound248]

@mcspacface @WSJ

[Compound248 💰 @compound248]

@BeenThereCap @AndrewYAVB

[Compound248 💰 @compound248]

1. Very early read on $IMXI vs $WU potential litigation. 🧵

NOT advice; consult counsel; do your own diligence; ignore me!

Late last night, on the LAST DAY contractually allowed, California provided "conditional approval" for WU to acquire IMXI.

HOWEVER, Western Union rejected the approval and terminated the acquisition, saying CA's approval forces "material changes" to its business model and agent relationships.

Intermext rejected Western Union's termination and said, "we'll see you in court, a-holes."

Materiality and changes to its business model will be the crux of the lawsuit.

Scroll down and read on for more detail:
1/x 👇

[Compound248 💰 @compound248]

Complete chaos in Remittance Land.

Western Union terminates its merger with Intermex.

Intermex says “nope, we still doing this, whether you want to or not.”

See y’all in Delaware Chancery Court!

[Compound248 💰 @compound248]

@SkeleCap lol!

[Compound248 💰 @compound248]

Anthropic should prove its chops by hacking into the Fed and just taking the money it wants rather than selling stock and paying investment bankers.

This is how you avoid dilution and show capital efficiency as a core value.

[dalibali @dalibali2]

If Claude AI is so smart why do they need bankers? Just go public by itself.

[Compound248 💰 @compound248]

@msbkk369

[Compound248 💰 @compound248]

@bcanet Won’t hurt but not obvious it helps either.

[Compound248 💰 @compound248]

@WagieCapital For me, contract disputes (like this one) are MUCH more investable than antitrust.

But, yes, point taken.

FWIW, I don’t currently have a position in this situation, though I plan to monitor it.

[Compound248 💰 @compound248]

Absolutely incredible.

For months, $WU and $IMXI have been working to get California - the final required approval - to sign off on the merger.

Today was the final day. Approval received at 8:00pm ET!

BUT!

Western Union just terminated anyway before midnight!

W T F!?!

[ArbLens - Merger Arbitrage Tool @ArbLens]

$IMXI just pulled the ultimate merger arb plot twist.

California DFPI drops conditional approval on the absolute last day of the outside date. $WU still offering $16 cash. Stock closed ~$6.50.

Spread still >100%.

Arbs who held through the pain are now staring at the biggest “told you so” in months.

The binary is dead. The spread is not. 🚀

(Still subject to parties accepting the conditions.)