Read time 5 minutes

Welcome back to another week with Renaissance. The newsletter equivalent of Jordan Belfort, the Wolf of Wall Street, but with more of a relaxed Friday vibe. 🐺

We’ve got it all this week! We’ve got news, wonderfullll news. From Elon’s X breakdown, Alpha and Altman’s eye-holes! Six-figure investment lessons, Crypto trades and more………..oooo let’s begin.

When you look at your trading account after getting excited and think ‘maybe’ Cramer’s right this time.

But before we get stuck in let me introduce you to our friends over at ERC Guaranteed. Up to $26,000 per Employee - Maximize Your Refund Potential with ERC Guaranteed Today!

With ERC Guaranteed, businesses can unlock up to $26,000 per employee in tax credits. Their team of experts can help you maximize your refund potential quickly and easily with no upfront fees.

They believe that every business deserves the opportunity to maximize its tax savings. Their team of experienced professionals will help you navigate the complexities of tax credit programs, ensuring that you claim all eligible Employee Retention Credits and receive the maximum refund possible. See your estimated refund in as little as 48 hours, with the average refund reaching $400,000.

1. Qualify in Minutes

2. Claim Your Refund

3. Apply Now

Today at a Glance:

Elon's X: Business Breakdown & A 6-Figure Investing Lesson For You

Altman's Eyeholes! Worldcoin Launches And Jumps 100% (Another Renaissance Win)

FAT FIRE: How To Set Your Monthly Saving Target

- And remember guys we don’t do this all for free…..well we do, but still. Honour our gentlemen’s agreement and refer a friend. 🤝 

- We’ll give you some free tailored advice to set you on your journey to financial independence. What are you waiting for!

You are: 1 referral away from a free personal financial consultation!

 Refer your friend using the link below ➡ Reply to this email, copying in your referred friend with the phrase “I want my free consultation” ➡ Your journey to financial independence starts

The Board

The Renaissance Over-Under

Business, Money Markets & Financial News

Elon ‘Xeets’ His Way From Twitter to X.com: X Business Breakdown & 6-Figure Investment Opportunities 👀

Elon: I’m busy running Tesla and SpaceX

Twitter: Yeah? What about playing with us for $42 Billion?

Elon: Can’t. Busy.

Twitter: Our parents aren’t home

Elon:

- Let me do a quick recap of this shitshow, because this season is MOVING at some pace. There’s highs, lows, creator revenue, new names, and even old characters back from the dead…….

- Elon bought Twitter for $42B, after recent stock downgrades and losing half its advertising revenue, it’s now down to $20B. That’s already a loss of a sweet sweetttttt $22B. And frankly, no amount of staff layoffs and user rate-limiting was ever going to get him out of that hole. 🕳

Elon screaming at the Twitter engineer in charge of server costs asking why he can’t save $20B in costs

- Renaissance readers, this looks incredibly dicey and from the outside looks like chaos. But remember our Howard Marks philosophy - things rarely go to zero. And history doesn’t repeat itself, but it does rhyme. What is his plan? *if there is one

⚡ Twitter history stats: Twitter was beaten down before the acquisition. It hasn’t grown its user base since 2013 when it’s total addressable market was reached and plateaued.

⚡ It had the lowest revenue per user out of all the social platforms, yet it continued to hire aggressively despite this. Bad executive management at the blue bird company.

- Elon was right to cut serious amounts of staff and trim costs. However, I bet he didn’t anticipate this amount of ad revenue leaving.

⚡ Elon and how you can’t kill an idea: His plan is to reinvent the business as ‘X’, and make it what he originally wanted for X.com back in the PayPal days. The ‘Everything App’ for content, audio, video, ideas, payments, and banking……….so pretty much everything.

- This would unlock the revenue per user and open up the business massively! But everything apps have never been popular in the West, only in Asia.

- Although there is something to be said for not betting against Elon long term! The most entertaining outcome is often the most probable one.

- So, X.com is basically back. $42 Billion and 23 years in cold storage later……..

⚡ How does it help you, the user and investor: X has already shown that it’s making big boy moves on creator incentives which is more than enough reason for users to flock to the app! All they have to do is post, and he’s guaranteeing the same level of rewards as YouTube.

- You can build an audience, business, and get paid in creator rewards all at the same time. And with payments integrated, it may end up being Web3’s biggest social app.

- If you have already seen the creator pay-outs you know the revenue is serious………

- For the payments we know Elon loves Crypto. Check this out below.👇 When you think about this it will have to have multiple options. And we can already probably guess some of the top contenders. 👀🦮

⚡ They say when there’s blood in the streets, buy. When there’s hype in the streets, hit up your decentralised exchanges! From this rebrand and narrative, all ‘X’ ticker related tokens pumped, giving tremendous gains to very very savvy narrative investors.

⚡ The casual investor might start tweeting for rewards, or they might buy Doge as the obvious bet (and we still like Doge accumulation going forwards with this trend). Although, the masters will go for the asymmetrical bets for big windfall returns!

- Here’s some smart money wallet action on X coins, 1300% returns and more!

- These gains on narrative plays can be incredible with six-figure sums in profit. However, Renaissance - like big Kenny says, you gotta know when to hold ‘em, know when to fold ‘em, know when to walk away (RIP big Kenny Rogers, the original gambler……I mean investor 👀).

⚡ TLDR; Narrative plays and probability should have got you to the same conclusions for quick investments in Doge and X related coins. Making quick entry and exits for profit!

- If you didn’t connect the dots in this narrative, we suggest you keep a journal of the things you missed, what assumptions you didn’t make, why they happened and why you hate money HA.

Easy-Tier - Tweets and content creation;

Mid-Tier - Doge investor since the Twitter takeover;

You kill blue birds in your spare time-Tier - X coin investor

⚡ More importantly, don’t bet against Elon, this has been a long time coming and he doesn’t give up. Patience mixed with an intense bias to action for change is a winning combo and this should be your takeaway for both your business and yourself.👏

- Only then will you build real wealth

LITTLE BITS 😎

A great Forbes article with some great wisdom from Billionaires…….also known as my bathroom reading. 👇

https://www.forbes.com/sites/schifrin/2023/07/03/money-wisdom-and-life-lessons-from-billionaire-investors/?utm_source=for_you_1

Well. Someone made a very wise decision back in 2007. I’m frightened for how much this account is gonna sell for.

A classic Paul Graham quote always makes me feel better for some reason. I couldn't have expressed this one any better myself!

Here’s a 27 year-old ‘Great Gatsby’ throwing exclusive tech parties in San Francisco. 🎉👯‍♀️ Sick story.

 https://www.businessinsider.com/andrew-yeung-google-employee-throwing-techs-hottest-parties-new-york-2023-7?r=US&IR=T

On Arkham a week ago people were bidding big money to know Elon’s wallet address. I wonder just how many X tokens and Doge are in there…….

 https://fortune.com/crypto/2023/07/18/someone-offered-a-670-bounty-for-elon-musks-crypto-wallet-via-intel-to-learn-app-arkham/

At Renaissance we’re on a big Kennedy kick at the moment. They’ve got it all - money, aspirational gentlemen lifestyles, insider trading fortunes. You name it! But really the most interesting one is the self-made Joe Kennedy and how he came into wealth.

This isn’t even an affiliate deal, the least you can do is refer a friend to the newsletter for this gem of a recommendation. 👀

 https://www.amazon.co.uk/gp/product/034067167X/ref=ox_sc_saved_title_1?smid=&psc=1

NOSTALGIA OF THE DAY

Crypto Market & NFT News

Sammy Altman Takes Over The World….coin 🥇

- That’s right, Worldcoin $WLD launched on the major exchanges and the price jumped 100%. If you cast your memory back dear readers, you’d remember that Worldcoin was another one of our red hot recommendations you hopefully weren’t sleeping on. 🎉😎

The Worldcoin iris scanning orb in real life, coming to eyes near you

- We told you to download their app and buy some live and direct, AJ Tracey style. Scan your eyeballs and buy some secondary coins from a peer to peer marketplace - you could have made a great return for only a little work!

- OpenAI and Sam Altman kicked this off in 2019 to basically prove you’re a human and not AI (and to shill you some tokens with no utility of course).

- You put your eyeball at the orb, get your tokens in return and they walk away with your iris scanned as a ‘World ID.’ 

- You’ll probably also FOMO and buy loads of the token now that it’s red hot 🌶 just as Sam expects. The art of the deal bro the art of the deal.

- Great for Sam, the token pumps and he gets around 9 figures of liquidity with not a huge value proposition offered to users and investors. Still, it was and perhaps is a great speculative bet on the AI bubble trend.

⚡ Allow us to stop you FOMOing in without the facts - the tokenomics are pretty hidden. Not so much the total supply but the distribution and split across VCs and their lockup. They will rain down on you like the hammer of Thor when they want their exit liquidity and the AI bubble looks like it’s tapering off (this is also a point to take note of for a short position and to have an Arkham search for the VC wallets to monitor their activity!)

⚡ Data protection. I like my eyes, I don’t want Sam to take them! But in 2021 security issues were reported and they were hacked. In the future this hack may prove to have been critical when we understand what we can do with the data.

⚡ There was an online Chinese black market selling this data and user KYC verifications from WorldApp. Few use cases, little protection, and in an asset class in a bubble that will drop over time. Tread cautiously Renaissance readers!

Sam Altman’s dreams and money goals looking like an episode of Rick and Morty.

Wealth Building, Personal Finance Hacks & FAT FIRE

- The FAT Fire series rolls on. So far we have covered how to calculate your FAT Fire number, how to increase your income and the best way to invest along the way.

- Now it’s time to get more concrete. Have an actual plan in place. We’re going to zoom in from the macro to the micro and make this actionable by calculating what your monthly saving target should be.

- We’ve already worked out our FAT Fire number (if you want to see this catch up on the last few issues!). To work out how we’ll hit this we’ll need to save a target amount, in a set timeframe, but crucially also account for any future investment returns.

Here’s how we can do this 👇

1. Use this calculator

2. Enter the amount you’re starting with and your return assumption.

3. Use the input in “After” to set in how many years you want to retire

4. Adjust the “Additional Contributions” and press “Calculate.” If the End Balance in the top right corner is too low, increase the contributions, if it’s too high, decrease contributions.

⚡ For example let’s say our target amount is $5 million. We currently have no starting amount, achieve 10% p.a. returns and want to retire in 20 years. The below shows we would need to save $80,000 annually.

- Now to get a monthly target we can simply divide this by 12. This will be $80,000 / 12 = c.$6,666 a month.

- This is the amount you need to budget and save each month to hit your target. Now you have a plan, a path to complete financial independence.🛣

- If you can’t save this amount each month then you need to either increase your timeframe or increase your income. But we’re impatient and go-getters here at Renaissance so we encourage you to increase your income. Circle back a few issues to see us discuss this further

- Besides, if you keep reading Renaissance you’ll find countless profitable opportunities and this increased income will come naturally. Guaranteed. 🤝

- This is a basic outline on how you’ll save to achieve FAT Fire but there are numerous advantages we advise you to leverage to make this easier along the way. One being pensions. The tax savings on these are incredible and they can substantially increase the waistline of your fat retirement when utilised effectively.

- They do have minimum access ages, so you will require investments in other vehicles to bridge the gap from retirement age to access age. But we will break this down and show you how to do this next week. 😎

Meme of the Day

Always Inverse Cramer

That’s a wrap for this week! Meet us on Twitter to talk all about it. Where we’ll send you jokes, tips, and all important news from the world of money, business and crypto and more! (@RenaissanceDly)