Happy Wednesday, my Chers! As many of you know, we've launched Baeta and currently, you can see what your friends are investing in 🔥

Want others to join your feed? Cheres is now open. Let us know who you want in your feed when you join Cheres and we'll make it happen! 

In other news…Coinbase IPOs 🎉, the Cloud is this summer's hottie (and in greater demand than FAANG, we may add) and Grab sets the stage for record-breaking IPO.

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.

We've got multiple micro-communities forming on Cheres (i.e. Gen Z VC 💫, SoulCycle NYC🗽, Consultants NYC 💻, BK artists 🎨, Ladies Who Lunch 🥂, etc.). Bring your peeps! 

On Cloud Nine as MT SaaS Takes Over FAANG

Remember when you'd hear of those 'single, ready to mingle' people and their grand-ma's obsessing over anyone who worked at FAANG (Facebook, Amazon, Apple, Netflix, Google)? Well, move over, Brad/Chad (oh wait, that's investment bankers)…anyway, MT SaaS stocks have taken over, outperforming FAANG.We'll break it down. MT SaaS stock basket includes: Microsoft, Twilio, CRM, Amazon, Adobe, and Shopify. As Bessemer Venture Partners suggests: “FAANG generated a 305% total return and 33% annualized IRR, but well short of the 886% total return and 60% annualized IRR of the MT SAAS basket.”  MT SaaS' outperformance of FAANG is even more pronounced in the past 5 years.While FAANG is exciting in all of its content glory, it seems like within the world of tech, what powers technology (i.e. holds it, stores it), is what will take over next.Cloud computing will become a majority of enterprise software by 2025, and the vast majority of all software by 2030.

Quick News Bites

Coinbase is IPO'ing on Nasdaq under $COIN

Coinbase revealed their first-quarter financial results and full-year outlook and was recently valued at $100B. Many fear an IPO-pop or as others call it, a “mispriced stock”. For Coinbase, that reference price is $250 per share, per the Nasdaq. Barrett Cohn, the co-founder and CEO of private market investment bank Scenic Advisement, told Fortune Magazine, he believes "there's gonna be volatility [on its debut day.] If there's a dip, I think it's going to be short lived. I think the volatility will mostly be upward."

Uber, Doordash, Alibaba, Ant Financial & UPS all in one? Grab

What if we told you that there is a company offering the same services as Uber, Doordash, Alibaba, Ant Financial and UPS all in one? Introducing you to Grab, the largest super-app in South East Asia. They're now going public! The Singapore-based startup announced that it would merge with a SPAC backed by Altimeter Capital in a deal that would value Grab at about $39.6 billion, the largest SPAC deal to date. Grab was last valued at $16 billion.