🥕 Random rich guy of the week...🤑

Happy Wednesday folks! Let’s see what’s in store.

Here’s the 3 min stack for today:

• 🤑 Random Rich Guy Of The Week

• 📚 Book Stores Are Back??

• 🍺 Pretend Alcohol

Random Rich Guy Of The Week…

Imagine this…

You sold your beloved business for $500,000,000. That’s a nice payday, right?

Now imagine going back to the company that bought your business and paying $1 to buy it back. What??

That’s exactly what Dave Portnoy did with the sale and then buy-back of Barstool Sports.

In one of the craziest back to back deals, Portnoy sold his company to Penn Entertainment, only to buy it back a few months later.

Penn has claimed that it’s a smart sale on their end as they will use the “loss” as a tax write off. But that’s a crazy benefit for Dave.

Sometimes you just have to be in the right spot at the right time, sheesh.

Book Stores Are Back??…

This is a pretty nostalgic one for me.

Growing up, I used to spend a ton of time at book stores. Being a young entrepreneur, being able to walk into Barnes And Noble, grab 5-6 business books and sit on one of their comfy couches to read for hours… It was amazing.

I’ve learned so much those days.

It’s awesome to hear that Barnes And Noble have had one of their best years last year and are opening more and more locations. 31 last year and over 50 this year.

This, coupled with growth of newsletters, written content and book consumption, these are the kind of trends I love to see for humankind.

Pretend Alcohol…

Another trend that I’m finding cool?

The rise of non-alcoholic spirits. Whether you drink alcohol or not, I’m sure you are familiar with the effects it has on you.

Now I’m not here to preach to you whether a buzz here and there is good. It’s your life and you should do with it what you want.

As someone who grew up with heart palpitations, I try to stay away from it as much as possible.

But the fact that more and more people are becoming health conscious, that’s fantastic.

Aaaand people wanting to read more?? I don’t know what’s going on but I love it.

This trend is cool though. It opens up a lot of opportunities for new businesses around “pretend alcohol”. The industry is growing by 50% per year.

Stay thirsty my friends…

/Wise Carrot/

P.S. If you missed any of our past newsletters, you can find the library right here: https://wisecarrot.beehiiv.com/

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