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By Ted Williams |
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Hello Thursday. I was drinking Juicy Jays on the porch last night with a software CEO buddy of mine when he dropped a wild stat that’s gone viral in the startup world…
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Roughly 50% of Nvidia's 36,000 employees are now worth over $25M!! That's insane. Amongst other things, it shows the wealth-creating power of equity.
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We should have been early stage Nvidia employees! Just messing, I love blogging more than money (obviously). Anyways.
💼 Hot Job: Planning & Development Director at City of Charlotte ($172K – $215K). Lead strategy on urban planning, zoning, and historic districts.
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🍺 Number: 4,627. Number of Guinness pints that McHale's Irish Pub sold in its first 9 days. 83% of beer sales came from their 4 Irish beers. Congrats Kyle and Brenden!
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👨Shout-out: Daniel Cottingham, CEO of Cottingham Chalk, for securing the bag with a successful sale to Compass. Last year, the 70-agent real estate brokerage closed $589M in home sales.
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MARKETS: YEAR-TO-DATE
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S&P 500 |
6,345 |
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Nasdaq |
21,169 |
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GROWTH MODE
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Rally Pickleball opens $500K Henrietta's restaurant, now raising up to $8M for growth
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Rally founders Meg Charity (35) and Barrett Worthington (38)
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Barrett and Meg invested $500K and partnered with Customshop chef Andres Kaifer to open Henrietta's in LoSo.
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Intel: It's a neighborhood bistro with 16 sharable dishes on the menu. Prices range from $6 – $35.
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Start with the Light as a Feather, a fruity gin cocktail with an egg white foam on top.
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Make sure to order their best-selling Crispy Gnocchi ($24). Delicious.
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Other table favorites were the Hamachi ($16), Wagyu Carpaccio ($18), and my sleeper pick goes to the Shishito Peppers ($12).
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Hot start: "We're blown away by the initial reception to Henrietta's," said CEO Barrett Worthington, a Davidson grad with an MBA from UVA. "We're excited to keep growing."
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Catch up: Rally Pickleball opened 2 years ago with $15M in total funding. It’s been profitable since its second operational quarter.
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Growth: They're now raising capital to open additional locations and productize their in-house tracking software.
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"We're looking to raise between $5M – $8M debt/equity from a combination of angels, family offices, and existing shareholders."
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Minimum investment of $100K.
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PRESENTED BY WHITEWATER
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Whitewater debuts collection of lodges to rent as "basecamps" — starting at $150 per night
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Big Creek Lodge on 6 acres in the Pisgah National Forest
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Whitewater now offers a curated collection of Adventure Lodges across the Southeast.
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Stay inside the Pisgah National Forest at Big Creek Lodge.
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Overlook the seven tallest peaks of Virginia at Windfall.
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Explore the historic South Carolina Lowcountry at Middleburg.
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Book it: Each basecamp is within a 4-hour drive of Charlotte. Prices range from $150-$500 per night. View prices and availability.
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INSIDE MEDIA
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CLT Guide Instagram handle blows past 200K followers, now doing "mid 6-figures" in revenue
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Owner Jesse Kremer (41) enjoying a VIP media hangout with Bananas owner
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Popular Instagram handle CLT Guide has gained 100,000 new followers in the past 6 months.
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Making money: It's profitable and doing "mid 6-figures" in revenue with just 2 full-time employees.
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How it started: 10 years ago, Jesse listened to a podcast titled How to Build a 7 Figure Social Media Empire and was immediately hooked.
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He ran the Instagram handle as a side hustle for 2 years while keeping his corporate job at Verizon Wireless.
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Before that, Jesse was a professional online poker player and played in several WSOP events in Las Vegas with "good results."
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Tiny take: It's not all doom and gloom in local media! But damn, it looks different — you've got a former poker player with arguably more power than the front page of the The Charlotte Observer 🤯
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MONEY TALKS
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40-year-old creative laid off from $200K corporate job looking to "reinvent herself"
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Tuna Tostadas ($18) from Puerta, her No. 1 restaurant
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Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.
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Job: "I just got laid off as a creative lead at a large e-commerce company. My salary was $150K, and with equity grants, total compensation was about $200K."
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Next step: "I am an immigrant, single mother of two who works her butt off. I'm viewing this as an opportunity to reinvent myself and do what I really want, but it'll be stressful."
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Money hack: "Pins Mechanical. I hate to admit this, but I go with my kids frequently because all the games are free."
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Investment strategy: "My budgeting tool Monarch says my net worth is $1.1M. I've got $200K in my 401k, $25K in emergency fund, $50K in brokerage, and the rest in home equity, etc."
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Retirement: "I’d like to retire at 55. I want a simple life in a home in Spain with a small art studio."
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Best money decision: "Purchasing my investment property in NoDa when I was 22. I bought it for $100K, and now it's worth about $340K. I lived in it recently to avoid capital gains taxes if I sell."
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Rich in Charlotte: "People that live in Myers Park or even some of these new homes in Chantilly. They can afford to have pools, send their kids off to $600/wk summer camps, and private school."
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Full story: 40-year-old creative with $1.1M net worth shares 3 financial goals
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MONEY SNACKS
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5 other financial headlines I’m snacking on
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X-Golf opens in Wesley Heights. The 7,000-square-foot golf simulator venue has 7 bays. Rates start at $45/hr.
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Calle Sol running $35 family meal special in August. Huuuge portions. Chicken, salad, plantains, beans, rice, Cuban bread.
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Maid service for sale, asking $530K. Revenue $780K with "loyal clients." Cash flow $171K. Owner retiring after 21 years.
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Tipsy Pickle offering fantasy football draft party package for $500. 64 wings. 3 beer towers. 3 hours golf simulator. 3 hours of pool.
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ESO Artisanal Pasta opens Friday in Optimist Hall. Husband-and-wife owners Kristina and AJ have been featured on Food Network.
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HOUSEKEEPING
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$1.2M Bathhouse CLT hosts 20 influencers as it prepares to open on Friday
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Located on the edge of South End, near BofA Stadium
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Opening soon: 30-year-old Viktor Poznyur plans to open Bathhouse CLT tomorrow. You've probably seen it on your TikTok or Instagram feed.
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Bougie 4,000-square-foot space features a sauna, steam room, hot tub, cold plunge, leisure pool, and kombucha lounge.
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2-hour access costs $60 and memberships start at $149/mo. "We're close to our 500-member-cap," Viktor told me.
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Wellness boom: I can now count 18 different spots that provide hot and cold therapy around Charlotte 🚀
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Happy Thursday! I'm picking up my 8-year-old daughter from summer camp in Virginia and staying the night at The Homestead. The resort underwent a $170M renovation 2 years ago, but $684 per night seems wild! We’ll see.
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– Ted
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MONEY POLL
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Is private school in Charlotte worth it?
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Last week’s poll results: Do you work with a financial advisor? (10,349 subscribers)
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