May 3 Zoom Call Highlights

Hi there! Thank you so much for those who attended the zoom call earlier we are almost 100 on that call and Tom really love having a talk with all of you. For those who don't have the chance to attend, please see below the highlights:

· Tesla are dealing with German red tape, they just announced that they are delaying the Berlin Gigafactory by 6 months mainly stating bureaucracy issues.

· Greg Abel will replace Warren Buffet. Greg is the current CEO as it is he runs a non-insurance business.

· During the Shareholder’s Meeting, Warren Buffet is declaring war with Robinhood. Basically, he said that Robinhood is a Casino they are gamified investing which is very dangerous. Then, Charlie Munger said that the payment or the flow is really problematic behavior as far as running a brokerage and I completely agree because what he means by that is that if you are getting paid for order flow imagine what would be like your business model volume. So, what will be your incentive, do you want your incentive for the people to invest long-term or do you want an incentive as high frequency trading. Because every order you transfer you get paid for, right? The incentive for the order flow like Robinhood is to incentivized people to go crazy, go speculative and go day trading which Charlie had a really great point.

· It is true that there is structure problem with SPAC. Why is SPAC different from IPO? It’s different because the type of investor they attract is completely different. In IPO, if I put in money as the pre-IPO investor, I absolutely love the company so much risk but I am emotionally attached with the company whatever happen. In SPAC, I am putting money with 0 knowledge on where does the money going to be park and I have no emotional attachment to the company. So once it spikes initially on the announcement then the investors will immediately cash out.

-Assistant of Tom Nash