🤓🚀 Slowing inflation and casino jackpots

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Good morning! Good news: inflation slows and College Football 25 is live.

Bad news: you probably missed a chance to win a chunk of $1.6m. Imagine how many domains you could buy with that?

Anyways, let's take a look at this week's trending content.

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TRIVIA

Which entrepreneur famously started his business by selling handmade beauty products out of the back of his car before turning it into a globally recognized brand?

A) L'Oréal B) Paul Mitchell C) The Body Shop D) Estée Lauder

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NEWS

Headlines 👀

👏🏼 June CPI Report Shows Easing Inflation - June CPI fell by 0.1% from May, reducing the annual inflation rate to 3% from 3.3%. This decline marks the first monthly drop since May 2020. Economists had expected a 0.1% monthly increase and an annual gain of 3.1%, but the actual figures were more favorable. Easing inflation paired with a cooling labor market has increased optimism for a Fed rate cut this year.

🏨 Rising Rent Costs Pose Significant Challenges for U.S. Small Businesses - Recent data from the Bank of America Institute shows as of May, the average monthly share of rent in total business expenses was 9.1%, a notable increase from the 2019 average of 5.9%. This rise in rent costs is particularly severe in areas like Las Vegas, where the average share of rent more than doubled the national average. Despite some relief from easing inflation, the overall financial strain on small businesses remains high.

 🤑 Investors Pour $27.1 Billion Into A.I. Start-Ups, Defying a Downturn - Over the past two years, while many tech start-ups struggled, those in A.I. have thrived. From April to June, U.S. A.I. start-ups attracted $27.1 billion, nearly half of all start-up funding. Big funding rounds, like CoreWeave's $1.1 billion and xAI's $6 billion, highlight the strong investor interest in A.I.

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FEATURED

Unlock Better Decisions with Game Theory ♟️♟️

The most valuable skill in life and business is thoughtful decision-making. The quickest way to be more thoughtful is by choosing an analytical framework to quickly asses situations, and apply it to real-life situations.

Unfortunately, many people don't dedicate the time and effort necessary to learn how to make decisions, instead they rely on impulsivity and intuition - a potentially deadly mix. When they do seek improvement, they're often led astray by hollow ideas which are ultimately unapplicable in daily life.

Insert: "Game Theory" - the highly mathematical study of interactions between decision makers, used by everyone from poker players to military strategists.

Here are 4 game theory principles that will save you from dozens of painful decisions:

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ACQUISITIONS

The First-Time Buyer’s LOI Blueprint 🗺️

Why an LOI is Essential

A Letter of Intent is a crucial document in any business transaction, acting as a roadmap that outlines the preliminary terms of a deal. Whether you’re buying a business, entering a partnership, or securing a significant contract, a well-crafted LOI sets the stage for successful negotiations and final agreements. Understanding the nuances of LOI drafting can save you time, prevent misunderstandings, and protect your interests.

What the LOI Blueprint Course Offers

• Step-by-Step Guidance
• Expert Advice
• Templates and Examples
• Interactive Learning
• Practical Applications

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LIFESTYLE

Paul Henderson: From Goldman Sachs to Cannabis CEO

In this episode of Mundane Millionaires, hosts Kevin Henderson and Eric Pacifici sit down with Paul Henderson, an entrepreneur with a diverse career path, ranging from traditional corporate America to the wild west of the burgeoning cannabis industry.

Paul starts by reflecting on his entrepreneurial journey, expressing regret about not understanding the business buying process earlier in his career. He shares insights from his time launching ventures from scratch, highlighting the immense challenges involved. This sets the stage for his eventual pivot to the cannabis sector, showcasing his adaptability and willingness to embrace new challenges​​.

Kevin then dives into Paul's background, illustrating his evolution from a traditional corporate career at Goldman Sachs and GE Capital to a dynamic role in the cannabis industry. This transition underscores Paul's ability to navigate complex and varied professional environments, illustrating his versatility as a business executive​​.

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• The best brand turnarounds in recent memory
• This is the most important (and underrated) career advice
• Good bosses do some uncommon things. Here are the 11 of them you should copy
• The legit strategy of 100% seller financing, a guide

See More Great Tweets

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FUN STUFF

• Insomnia Cookies CEO’s college side hustle became a $200 million business, thanks to his wife
• Mirage Hotel & Casino has to get rid of $1.6m in prize money before closing next week
• College football fans rejoice - the long wait is over! College Football 25 releases this week, take another look at the awesome promo video

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TRIVIA ANSWER

B) Paul Mitchell

Paul Mitchell, co-founded by John Paul DeJoria and Paul Mitchell, began by selling their hair care products from the back of DeJoria's car before growing into a globally recognized brand in the beauty industry.