This week's major announcement is all about Tesla's shareholders voting in FAVOR of Elon's massive pay package, which if you recall was previously approved in 2018 but a Delaware judge tried to block it, and voting in FAVOR of moving the legal entity's domicile to Texas from Delaware. 

Both can be seen as bullish events for Tesla but the WoW change was barely changed. There was speculation that Elon would resign from Tesla if the pay package vote failed. I think that concern was overblown because the only source of liquidity for Elon is Tesla currency and he wouldn't want anyone else to guide his nest egg other than him.

Now that this is behind us, the focus will turn back to Tesla's execution and strategy. Will 8/8's Robotaxi announcement blow all our minds or will it be overhyped like all his past announcements? 

Big week ahead for Tesla. Their annual shareholder meeting is being held on June 13 and all eyes are on Robyn Denholm to pull a rabbit out of a hat. Elon has reportedly threatened to leave Tesla, or at the very least not focus his attention and therefore let it whither, if he does not get his pay package even though he's "not motivated by money". 

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SaaS Stocks Under Pressure Amid Growth Concerns

Several leading software-as-a-service (SaaS) stocks have seen significant declines recently as investors grow concerned about slowing growth and increased deal scrutiny in the sector.

One of the biggest decliners has been UiPath (PATH), which plunged over 30% on May 31st after lowering its full-year guidance due to elongated sales cycles and "increased deal scrutiny"[1][2][3][4]. The automation software company also announced the abrupt departure of CEO Robert Enslin, with founder Daniel Dines returning as CEO[1][2][3][4]. Analysts cited the "multifaceted" pressures on UiPath, including failed growth investments, macro headwinds, and execution risks from the leadership change[2][3].

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Biggest news this week is Microsoft's Build developer conference. As expected, it was filled with AI. The thing I'm most excited about is the Surface laptop with a Qualcomm chip, NPU and Recall ability.

Below are the top 5 highlights from the conference according to Perplexity:

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I was browsing my photo album over lunch today and came across this gem:

On that day, it was the single worst trading day since 1987. Now compare that to the stock market today:

If there was an argument to be made here, it’s that in the long run, most things are usually not as bad as it seems. And vice versa. The human mind and body are quite flexible and can tolerate quite a bit of stress. It helps to keep a long-term mindset to ensure one is mentally and physically healthy. Just like working out one day doesn’t make you an Olympic athlete, but sustained training over a long period of time, will get you darn close. 

It’s also tough to bet against America 🇺🇸. As a junior corporate worker in 2008, I applied for the CFA scholarship, which would cover the cost of taking the Level 1 exam, and mentioned in the essay that I don’t believe recessions will last forever and now is the best time to improve one’s skills.