Thanks @danielsethlewis for the note on $betr. We had the chance to fully fund the business with high quality investors (as 13f filings will show soon enough) and we took the short term pain on the print with the stock up 50% in 3 days on very little volume vs issuing in the ATM.
-The ATM is terminated.
-We pre-released volumes well above expectations for Q1 at $1.64 billion, up 89% YOY
- We are fully funded and will use this capital to squeeze further on growth and costs
- Ideally we would have priced this at $40 or higher. The $8x2mm shares is $16mm we potentially left on the table. Instead I firmly believe we will be able to generate more than $16mm in savings and revenue alone from doing this deal than doing piece meal in the ATM. And that has a much better business impact and multiple.
- We didn’t sell stock to anyone who was short and got confirmation of that prior to allocating. So if a retail investor is selling today on emotion then they are the ones helping the shorts cover.
- As the largest shareholder I personally care the most about dilution. I was pretty torn about printing the ticket at this price. But I will take the short term pain and the people upset at me short term anyday so I set up the company to fully achieve what is now well within our grasp - to be by far the largest mortgage platform in America and to help millions of American families save money and time on their home finance. $betr
And now they will be able to pledge it to buy a home. @coinbase @tinmanAI $betr This isn’t a niche thing. It’s what everyone is going to do once most financial assets are tokenized. It’s just a better way to buy a house. It’s what I wanted in 2013 when I went to buy a place and lost it and used the money to start better. No more trade off between savings/asset appreciation and house appreciation for consumers. More collateral/skin in the game for investors. Everyone wins.
Thank you @Hugh_Son for your coverage of @tinmanAI $betr launching the first credit decision engine inside @ChatGPTapp@OpenAI and driving thousands of dollars of savings on their mortgage and home equity loan for American families and making mortgages faster and cheaper.
https://t.co/g65LJ6W1P4
@sama@pulte@FannieMae@FreddieMac
🔥🚨BREAKING: This new AI company called “Bland” is going viral after releasing this video showing their futuristic and ‘intimidating’ AI that is able to perfectly clone your voice to the point it’s as it is able to capture your soul with a brief MP3 file.
There are several voice cloning AI but the sheer accuracy of the tone, cadence and even pronunciation is uncanny.
This AI has led some consumers to fear about the dangers of AI and how easy it will be to manipulate the masses, the scary part is this is now available to the general public.
Today we're launching DuckLake, an integrated data lake and catalog format powered by SQL. DuckLake unlocks next-generation data warehousing where compute is local, consistency central, and storage scales till infinity. DuckLake is an open standard and we've implemented it in the "ducklake" DuckDB extension.
– Read the announcement blog post at https://t.co/7PHGxqlcxk
– Visit the new DuckLake website at https://t.co/0P4RqbYsgF
@AmtrakNECAlerts This is a joke. We were supposed to leave Penn at 4pm and we are still stuck in an Acela at the station that was supposed to leave at 8.30. No communication. Service has not been restored and nobody at Amtrak seems to care
I will be teaching my valuation and corporate finance classes at NYU's Stern School of Business in the spring, and as always, you are welcome to join. You can virtually take the class, access the material and even take the exams. https://t.co/mlfsK9tKuy
One of my main motivators for contributing to DuckDB early on was the impact that open-source software can make on society.
I love learning how we facilitate or influence areas we couldn't foresee when thinking of "just building" a DBMS.
Composure is launched! 🚀
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