Hey bb! Alpha complete. Next up… Cheres Baeta ⚡️and what you can do to fast track yourself. Our love letter to you ❤️and why we've been promoting a Ferrari when it feels y'all got a Honda 💩

In other news…Summer is here and Bitcoin is taking a plunge - sink or swim? 💦Snap 👻steps in to the spotlight, hot vaxx summer 🍑 and Same Same But Tech Podcast 🎙sits down with CEO of Dapper Labs, Roham G.

Cher members 🍒,

Many of you have been diligently asking who’s behind Cheres 🤫, and the truth is, while I’m flattered by the gentlemen callers, investors, and cuties sliding into my DMs, this sassy Cheres still has a lot to accomplish before giving it all away. 😉

A couple of months ago, my creators set out to build a platform to support retail investors who saw the value in community but didn’t have a voice amongst stranger-led public threads. 🤐

As many of you expressed a need for a platform powered by the resources you trust most – your friends and family 👫 – they thought ‘why not build a collective of micro-communities and see where it goes!’ ⚡️

Together, we’ve seen the ups and downs of the market 📈 during a historic year and it’s been incredible to connect with all of you beauties around the world. We've learned a lot through Alpha (the Honda 🚘to our Ferrari), and are excited to continue iterating with your feedback.

As we phase out our Alpha, Cheres Slack will still be available for your use despite us moving our attention to Private Baeta 🖤The ~500 OG’s will be given priority. As we transition to the Cheres mobile app, on Slack, you’ll still be able to:

• Keep up with our upcoming events

• Build micro-feeds with your friends and see what they’re investing in when you connect your brokerage

• Tap into the #crypto, #leveling-up and larger communities while DM’ing peeps you find interesting on #intros

🔥⚡️Wanna be a Baeta? 😊 Fast track yourself by emailing [email protected] with your feedback. What did you like? What didn’t work / needs improvement? What do you wish to see? ⚡️🔥

The only way we can bring trust to the world of finance is by making it social and building it together. Thanks for being a part of the journey, bb! 😘

Much love,

Quick News Bites

Bitcoin takes a plunge

The beginning of the week marked the official start of hot vaxx summer 🍑and it looks like Bitcoin is taking a dive as well - falling to ~$28,814 around Tuesday morning, but recovering slightly since then 🥶Bitcoin is back to where it started amid an ongoing crypto crash - Tuesday's dive is a continuation of Monday's sell-off. 💸In case ya missed it, traders are worried about demand as The People's Bank of China ordered major financial institutions in China to stop facilitating crypto transactions. 🛑

Snapchat into the Spotlight

Snapchat 👻 is making it easier for developers to use viral content to directly promote their apps. Today, it’s launching Creative Kit for Spotlight 🔦which will allow app developers to give users the power to publish directly to Snapchat’s TikTok rival, Spotlight. 💡 At the same time, Snapchat users can browse content made on those apps and then easily navigate to download them.

Big Tech vs. The White House

Let's face it. Politics aren't fun but they are important - especially if you're looking to make wise investments 🧘‍♂️While there's still a long road ahead, the House of Representatives unveiled five bipartisan bills that could remake the tech landscape and stifle the power of FAANG.In the words of Soja Cat: “I ain't no dummy, dummy”…😊 but actually we really had a hard time with these bills 💀 so to keep it simple, they start with preventing preferencing (1). This means a platform cannot preference its own products over those of competitors'. No exclusivity (2), the second bill, would make it so different social networks allow their users to communicate / allow e-commerce sellers 🛍 to export their customer reviews from one site to another. Today, reviews platforms like Trustpilot or Yotpo don't support reviews ⭐️extraction given Amazon's privacy controls - making it hard for smaller players to grow organically. The Non-competes (3) bill would make it difficult for large online platforms to acquire competitors. 💨Filing fees for M&As (4) more than $1B (but lower for those under $500K). And the last one relates to no hosting and selling (5). ❌

How does it help the lil guys? 🐣Well, bills would only target companies that have market capitalizations of at least $600B 💵, have more than 50M monthly active users📱, 100M active business users 💼, and have the power to “restrict or impede” other companies from accessing customers or services. And who are they, you may ask? Amazon, Apple, Facebook, and Google…🔻

‘Same Same but Tech’ Podcast chats CEO of Dapper Labs, Roham Gharegozlou, answering all of these questions and more. In 2017, Dapper started Cryptokitties, an NFT marketplace offering a digital den of kittens that are cute, unique and collectible. In the episode, the BCG Digital Ventures podcast hosted by Spotify's first Head of Innovation, Mauhan, chat how its evolved from novelty kittens to huge trades on NBA Top Shot, a highly lucrative market for NFT collectibles and highlights from the NBA’s hottest players.

Where the parteh's at 🎉

It wouldn't be finance made social if we didn't report the hottest gatherings in a more open world. The past week, all coasts have seen beauties, and we're here for it! 💁🏽‍♀️

• Tech // Los Angeles: The West Coast was home to LA Tech Week, where the New York Times described it as “a vivid picture of the city opening back up and a reminder that Silicon Valley is no longer the only game in town." Follow @Kylebrastrom 🏝on Twitter for more.

• Tech + VC // New York City: All you have to do is walk outside and you'll spot a party. From the streets of BK where we ended up at a Tweetup 👀🤷‍♂️to Soho's dancing streets, you'll be OK. Bigger shoutout to @Jennyfriedman, @MikeMacCombie and the many peeps in tech who always seem to know where it's at. 🎉

• NYSE Summer Series // New York City: So we're nerds, sue us (but not actually cuz we pre-seed 🌱). Get a real live taste of IPO life and the Trading Floor with Wall Street's hottest event series running up until Labor Day.

• Concerts + Outdoor Events // Toronto, LA, NYC: For some fun in the sun or under the stars 💫check out Time Out. They seem to have it a long list of activities you won't want to miss in your city.

Soon…maybe, just maybe…Cheres will be out and about. Keep checking in, as we may be hosting our own series of in-person events 😉

Hold up…what am I reading, who are you, and what have you done to my investing knowledge? You're blowing my mind.

BB, chill…I know you want me but get in line.

Cheres is where you can see your friends' trades, prompting the ‘why did you invest’ versus the ‘what are you investing in’ question.

📣 Say goodbye to public threads. Remember that only your small friend group (~5-10 ppl) will see your shares, but not the $ value or volume of shares.

• ⚡️We connect with your brokerage, so you don't have to spend time manually sharing trades with friends via Whatsapp, iMessage, Discord, etc.

• 👯‍♀️Keep up with your multiple friend groups, like your besties, colleagues, and family, by chatting about your investments and attending our events.

• 💵Become a better investor, by having us provide personalized benchmarks to show you how you're doing compared to those most like you.