Dear Reader,

Without most people noticing, Elon Musk has started a new venture that has nothing to do with rockets, EVs, Neuralink, or tunnels.

Trump has personally issued emergency support to roll this underlying tech out as fast as possible.

It's already live in multiple states.

Behind the scenes, demand for this is already spiking...

The Financial Times says Sam Altman is begging people on the phone to build this for him and OpenAI.

And the best part for you and your wealth is:

A few little-known companies control the supply chain.

Anyone who wants this tech - be it Sam Altman or even Elon himself - must go through these companies to get it.

You can simply buy their stocks right now... before this news becomes common knowledge.

But you ought to move fast. Because leaked satellite images are already showing up online...

Click here to see how you could back Elon Musk's next venture from your regular brokerage account.

Regards,

Joel Litman
Chief Investment Officer, Altimetry

BREAKING NEWS

🏠 Buying A Home In America Has Never Been This Hard. But There's A Plot Twist.

The numbers are grim and they are real. Housing affordability in the US has hit its lowest level in over 40 years. Families now need an income of over $120,000 to afford a median-priced home, up from only $66,000 in 2020.

That's not a small jump. That's nearly double in five years. If your salary didn't double since 2020, you already know how this feels.

Oxford Economics says it will take at least seven years for housing to become affordable again, even under the most optimistic scenario. Seven years. That is a long time to keep renting.

Here's what's actually driving the pain:

• 💸 Mortgage payments have nearly doubled. Monthly payments on a median-priced home now run $3,100, up from $1,700 in early 2020. That's an extra $1,400 every single month for the exact same house.

• 🔒 Millions of homeowners are stuck in place. Because they locked in ultra-low mortgage rates below 4%, selling now would mean taking on a new mortgage above 6%, making monthly payments far more expensive. That “lock-in effect” has kept an estimated 1.3 million homes off the market, leaving buyers with fewer options.

• 🏗️ Something strange just happened in new construction. For the first time in recorded history, new homes are now cheaper than existing homes. Builders have been cutting prices and offering incentives so aggressively that a brand new house now costs less than a used one. The above post said it best: it's now cheaper to build your own house than negotiate with a baby boomer.

The Munch Take: You need $120,000 a year to afford an average house. The average American household earns about $80,000. That gap won’t close itself. New homes are now cheaper than old ones for the first time ever, which is either a sign that builders are finally doing something useful or a sign that the existing home market is completely broken. Probably both. My wife has been asking about renovating our basement for two years. At this point I think she's right. It's cheaper than moving. Actually, everything is cheaper than moving.

Forget OpenAI. This powerful lab is winning the AI race. (Ad)

This lab is on track to generate $50 billion , leaving OpenAI in the dust. Business Insider reports "investors are salivating at the chance to buy into it" when it goes public.

Here's how to claim a backdoor stake for around $40.

STORY OF THE DAY

🍎 The $50,000 Decision That Would Have Made Him The Richest Person Alive.

Here's a story that will ruin your Monday. In 1976, a man named Nolan Bushnell was running Atari, the hottest video game company in the world. One of his employees, a 20-year-old named Steve Jobs, came into his office with a proposal. He wanted $50,000 for a one-third stake in his new company. The company was Apple.

Bushnell turned him down. His own words looking back: "I was so smart, I said no. It's kind of fun to think about that, when I'm not crying."

Apple is now worth $3.1 trillion. That one-third stake Bushnell passed on would be worth over $1 trillion today, which would have made him the richest people alive today, right next to Elon.

Here's the part that makes it worse. Bushnell wasn't the only one. Ronald Wayne, the forgotten third co-founder of Apple, sold his 10% stake in the company for $800 just two weeks after signing the original contract. That stake would be worth around $300 billion today. Instead, he got $800.

The Munch Take: Two men had the chance to own pieces of Apple in 1976 and both said no. One passed on buying in for $50,000. The other said yes, then sold his share back for $800. Together, they walked away from one of the greatest fortunes in business history. The lesson isn’t that they were foolish. They made the best decision they could with the information they had at the time. The lesson is that the biggest opportunities almost never look obvious when they first appear. Sometimes they look like risk, uncertainty or just another small idea in a garage.

Investors are watching this fast growing tech company. (Ad)

No, it's not the publicly traded tech giant you might expect... Meet $MODE, the disruptor turning phones into income generators.

Mode's 32,481% revenue growth ranked them #1 on Deloitte's list of fastest-growing companies in software. They aim to pioneer "Privatized Universal Basic Income" powered by technology, not government, and their EarnPhone has already helped consumers earn & save $1B+. Their share price is set to change on 5/29 and the opportunity to invest at their current price is limited.

Share price moves today. Last chance to lock in current pricing.

🍪 Munchy Memes