A Quick Update.

Carbon Capital is now launching this Wednesday, March 18th.

Took a few extra days to get everything running properly behind the scenes.

Keep an eye on your inbox that day.

For those who missed it, Carbon Capital is a $100,000 portfolio backed by personal capital, documented from the very beginning.

Every decision made with full reasoning behind it.

Learn more about what is coming here:

What is Carbon Capital?

You can also read my full investment philosophy here.

Key Data Bites Over The Last Week:

Morningstar analyzed 132 tech stocks for AI disruption risk.
15 S&P 500 stocks showing double-digit gains since start of Iran war.
Yardeni Research raised probability of market meltdown to 35%.
Meta is reportedly planning to cut 20% of its workforce.
Google awarded CEO Sundar Pichai a $692M pay package.
Trump bought >$1.1M of Netflix bonds over the last 3 months.
Billionaire family earned a 1,994% return on a well-timed Gold bet.
Netflix will pay up to $600M for Ben Affleck's InterPositive.
Billionaire Tilman Fertitta in talks to buy Caesars for $7B.
McDonald's plans to launch new value meals for $3 or less.
Nvidia will invest $2B in Nebius to scale full-stack AI cloud.
Apple now makes about 25% of its iPhones in India.
Salesforce to raise $25B of debt to fund share buyback.
Target is lowering prices on 3,000 products to regain customers.
Bill Ackman filed to take Pershing Square public and raise $10B.
YouTube is now valued at up to $560B.
IEA agreed to release record 400M barrels of oil.
AI agents could send college grad unemployment over 30%.
Adobe's CEO will step down after serving for 18 years.

In today's newsletter:

🚖 Uber Overtakes Tesla
💰 Richest People In The World
🔥 Oracle Is Burning Cash
📉 Inflation Reaches 5-Year Low
❤️ Bumble $10,000 Invested

Let's jump right in.

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Wall Street Just Named the Most Crowded Trades of 2026

AI stocks. Metals. Crypto.

Surprise, surprise; gold crashed 16%. Silver plunged 34%. Bitcoin dropped to 1 year lows.

All supposedly "uncorrelated" assets moving in lockstep largely because of overleveraged margin.

JPM strategists warn that the same leverage is still a risk.

Those markets may be recovering now, but cascading liquidations could trigger quickly across several asset classes simultaneously.

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Uber just pulled off something few expected.

For the first time, the company now generates more operating profit than Tesla.

The comparison becomes even more striking when you look at valuation.

Tesla is worth roughly $1.23T, more than eight times Uber's $151B market cap.

Much of that gap reflects a dominant narrative.

Many investors believe Tesla's future robotaxi network will eventually disrupt Uber's core business.
That idea has weighed on Uber's stock for much of the past year.

Yet today, Uber is the one generating more operating profit.

Elon Musk is already in a league of his own.

With a net worth of about $830B, he now sits more than $500B ahead of the world's second richest person.

And the gap may widen even further.

SpaceX is reportedly preparing to file confidentially for an IPO this month, targeting a valuation above $1.75T and raising as much as $50B.
If successful, it would become the largest IPO in history.

And it could push Musk into a milestone no one has reached before:

The world's first trillionaire.

Oracle's AI push is accelerating, but it doesn't come cheap.

The company guided next quarter earnings well ahead of expectations and expects fiscal 2027 revenue to reach about $90B.

The driver is clear: Cloud demand is surging.

Total cloud revenue jumped 44% last quarter, while cloud infrastructure revenue surged 84% as companies race to secure AI compute.

The backlog tells the same story.

Remaining performance obligations have ballooned to $553B, reflecting a 325% YoY increase.

But that growth is coming at a cost.

Oracle's free cash flow over the last twelve months has fallen to negative $25B as the company pours money into building out data centers.
Management also said it may raise up to $50B via debt and equity financing to expand its cloud infrastructure.

Unlike other hyperscalers funding AI with massive cash reserves, Oracle is leaning heavily on debt to compete in the race.

Inflation has cooled, but new risks are emerging.

Consumer prices rose 2.4% in February, with core inflation at 2.5%, both in line with expectations.
Overall inflation now sits near its lowest level in five years after stabilizing over the past few years.

But the outlook is less certain.

Gas prices have jumped about 19% since the conflict with Iran began, raising concerns that energy costs could push inflation higher again.

At the same time, the broader economy is showing signs of slowing.

U.S. GDP growth for Q4 was revised down to 0.7% from 1.4%.

The Fed meets again on March 18, and most traders expect interest rates to remain unchanged.

Is Bumble starting to buzz again?

Shares of the dating app jumped nearly 30% this week as investors focused on the company's turnaround efforts.

The latest quarter was mixed, but guidance caught attention.

Bumble expects about $211M in Q1 revenue, roughly in line with forecasts, while adjusted EBITDA is projected around $78M, well above expectations.

Founder Whitney Wolfe Herd, who returned as CEO last year, is now leaning heavily on AI to reshape the platform.

The company is preparing a redesigned version of the app, testing new formats that could move beyond swiping.
It is also developing an AI powered dating assistant aimed at improving matches and user engagement.

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💉 Back Together^↗ – Novo Nordisk struck a deal with Hims to sell Wegovy and Ozempic on the platform.

🎫 Breakup Avoided^↗ – Live Nation settled its DOJ antitrust case and avoided a forced Ticketmaster sale.

🆚 Government Feud^↗ – Anthropic filed a lawsuit against the Trump administration after the company was declared a supply chain risk.

🤖 Social AI^↗ – Meta has agreed to acquire AI social network Moltbook.

⏰ Model Setback^↗ – Meta delayed its new AI model, code-named Avocado, by several months after performance concerns and weighed licensing Google's Gemini.

🖲️ Sovereign AI^↗ – Palantir and Nvidia are partnering to deliver a full AI data center stack, from hardware to software.

Notable Companies Reporting Earnings Week of March 15, 2026:

Major Trades Published 3/9 - 3/13. Trades may be those of family members. [Source: Capitol Trades]

Buys

Gil Cisneros (D)
- Company: Taiwan Semiconductor ($TSM)
  - Amount Purchased: $101K - $265K
- Company: Exxon Mobil ($XOM)
  - Amount Purchased: $50K - $100K
- Company: Alibaba Group ($BABA)
  - Amount Purchased: $50K - $100K
Markwayne Mullin (R)
- Company: Unitedhealth Group ($UNH)
  - Amount Purchased: $50K - $100K
Tony Wied (R)
- Company: Hims & Hers Health ($HIMS)
  - Amount Purchased: $50K - $100K

Sells

Tony Wied (R)
- Company: Lam Research ($LRCX)
  - Amount Sold: $150K - $300K
Gil Cisneros (D)
- Company: Ceridian HCM Holdings ($CDAY)
  - Amount Sold: $50K - $100K
Markwayne Mullin (R)
- Company: Autozone ($AZO)
  - Amount Sold: $50K - $100K
Jonathan Jackson (D)
- Company: IBM ($IBM)
  - Amount Sold: $51K - $115K
- Company: Palo Alto Networks ($PANW)
  - Amount Sold: $50K - $100K

Major Trades Published 3/9 - 3/13

Buys

Coupang ($CPNG)
- Insider: Neil Mehta (Director)
  - # of Shares Purchased: 7,350,104
  - $ Amount: $136,562,970
  - SEC Forms: [1]

Sells

Nvidia ($NVDA)
- Insider: Ajay Puri (EVP, Worldwide Field Ops)
  - # of Shares Sold: 300,000
  - $ Amount: $54,756,044
  - SEC Forms: [1]
AppLovin ($APP)
- Insider: Vasily Shikin (CTO)
  - # of Shares Sold: 62,804
  - $ Amount: $30,549,692
  - SEC Forms: [1]

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