How the Hunt Brothers Cornered the Silver Market and Then Lost it All

TL:DR: yes its long. Grab a beer.

Until his dying day in 2014, Nelson Bunker Hunt, who had once been the world’s wealthiest man, denied that he and his brother plotted to corner the global silver market.
Sure, back in 1980, Bunker, his younger brother Herbert, and other members of the Hunt clan owned roughly two-thirds of all the privately held silver on earth. But the historic stockpiling of bullion hadn’t been a ploy to manipulate the market, they and their sizable legal team would insist in the following years. Instead, it was a strategy to hedge against the voracious inflation of the 1970s—a monumental bet against the U.S. dollar.
Whatever the motive, it was a bet that went historically sour. The debt-fueled boom and bust of the global silver market not only decimated the Hunt fortune, but threatened to take down the U.S. financial system.
The panic of “Silver Thursday” took place over 35 years ago, but it still raises questions about the nature of financial manipulation. While many view the Hunt brothers as members of a long succession of white collar crooks, from Charles Ponzi to Bernie Madoff, others see the endearingly eccentric Texans as the victims of overstepping regulators and vindictive insiders who couldn’t stand the thought of being played by a couple of southern yokels.
In either case, the story of the Hunt brothers just goes to show how difficult it can be to distinguish illegal market manipulation from the old fashioned wheeling and dealing that make our markets work.
The Real-Life Ewings
Whatever their foibles, the Hunts make for an interesting cast of characters. Evidently CBS thought so; the family is rumored to be the basis for the Ewings, the fictional Texas oil dynasty of Dallas fame.
Sitting at the top of the family tree was H.L. Hunt, a man who allegedly purchased his first oil field with poker winnings and made a fortune drilling in east Texas. H.L. was a well-known oddball to boot, and his sons inherited many of their father’s quirks.
For one, there was the stinginess. Despite being the richest man on earth in the 1960s, Bunker Hunt (who went by his middle name), along with his younger brothers Herbert (first name William) and Lamar, cultivated an image as unpretentious good old boys. They drove old Cadillacs, flew coach, and when they eventually went to trial in New York City in 1988, they took the subway. As one Texas editor was quoted in the New York Times, Bunker Hunt was “the kind of guy who orders chicken-fried steak and Jello-O, spills some on his tie, and then goes out and buys all the silver in the world.”
Cheap suits aside, the Hunts were not without their ostentation. At the end of the 1970s, Bunker boasted a stable of over 500 horses and his little brother Lamar owned the Kansas City Chiefs. All six children of H.L.’s first marriage (the patriarch of the Hunt family had fifteen children by three women before he died in 1974) lived on estates befitting the scions of a Texas billionaire. These lifestyles were financed by trusts, but also risky investments in oil, real estate, and a host of commodities including sugar beets, soybeans, and, before long, silver.
The Hunt brothers also inherited their father’s political inclinations. A zealous anti-Communist, Bunker Hunt bankrolled conservative causes and was a prominent member of the John Birch Society, a group whose founder once speculated that Dwight Eisenhower was a “dedicated, conscious agent” of Soviet conspiracy. In November of 1963, Hunt sponsored a particularly ill-timed political campaign, which distributed pamphlets around Dallas condemning President Kennedy for alleged slights against the Constitution on the day that he was assassinated. JFK conspiracy theorists have been obsessed with Hunt ever since.
In fact, it was the Hunt brand of politics that partially explains what led Bunker and Herbert to start buying silver in 1973.
Hard Money
The 1970s were not kind to the U.S. dollar.
Years of wartime spending and unresponsive monetary policy pushed inflation upward throughout the late 1960s and early 1970s. Then, in October of 1973, war broke out in the Middle East and an oil embargo was declared against the United States. Inflation jumped above 10%. It would stay high throughout the decade, peaking in the aftermath of the Iranian Revolution at an annual average of 13.5% in 1980.
Over the same period of time, the global monetary system underwent a historic transformation. Since the first Roosevelt administration, the U.S. dollar had been pegged to the value of gold at a predictable rate of $35 per ounce. But in 1971, President Nixon, responding to inflationary pressures, suspended that relationship. For the first time in modern history, the paper dollar did not represent some fixed amount of tangible, precious metal sitting in a vault somewhere.
For conservative commodity traders like the Hunts, who blamed government spending for inflation and held grave reservations about the viability of fiat currency, the perceived stability of precious metal offered a financial safe harbor. It was illegal to trade gold in the early 1970s, so the Hunts turned to the next best thing.
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Data from the Bureau of Labor Statistics; chart by Priceonomics

As an investment, there was a lot to like about silver. The Hunts were not alone in fleeing to bullion amid all the inflation and geopolitical turbulence, so the price was ticking up. Plus, light-sensitive silver halide is a key component of photographic film. With the growth of the consumer photography market, new production from mines struggled to keep up with demand.
And so, in 1973, Bunker and Herbert bought over 35 million ounces of silver, most of which they flew to Switzerland in specifically designed airplanes guarded by armed Texas ranch hands. According to one source, the Hunt’s purchases were big enough to move the global market.
But silver was not the Hunts' only speculative venture in the 1970s. Nor was it the only one that got them into trouble with regulators.
Soy Before Silver
In 1977, the price of soybeans was rising fast. Trade restrictions on Brazil and growing demand from China made the legume a hot commodity, and both Bunker and Herbert decided to enter the futures market in April of that year.
A future is an agreement to buy or sell some quantity of a commodity at an agreed upon price at a later date. If someone contracts to buy soybeans in the future (they are said to take the “long” position), they will benefit if the price of soybeans rise, since they have locked in the lower price ahead of time. Likewise, if someone contracts to sell (that’s called the “short” position), they benefit if the price falls, since they have locked in the old, higher price.
While futures contracts can be used by soybean farmers and soy milk producers to guard against price swings, most futures are traded by people who wouldn’t necessarily know tofu from cream cheese. As a de facto insurance contract against market volatility, futures can be used to hedge other investments or simply to gamble on prices going up (by going long) or down (by going short).
When the Hunts decided to go long in the soybean futures market, they went very, very long. Between Bunker, Herbert, and the accounts of five of their children, the Hunts collectively purchased the right to buy one-third of the entire autumn soybean harvest of the United States.
To some, it appeared as if the Hunts were attempting to corner the soybean market.
In its simplest version, a corner occurs when someone buys up all (or at least, most) of the available quantity of a commodity. This creates an artificial shortage, which drives up the price, and allows the market manipulator to sell some of his stockpile at a higher profit.
Futures markets introduce some additional complexity to the cornerer’s scheme. Recall that when a trader takes a short position on a contract, he or she is pledging to sell a certain amount of product to the holder of the long position. But if the holder of the long position just so happens to be sitting on all the readily available supply of the commodity under contract, the short seller faces an unenviable choice: go scrounge up some of the very scarce product in order to “make delivery” or just pay the cornerer a hefty premium and nullify the deal entirely.
In this case, the cornerer is actually counting on the shorts to do the latter, says Craig Pirrong, professor of finance at the University of Houston. If too many short sellers find that it actually costs less to deliver the product, the market manipulator will be stuck with warehouses full of inventory. Finance experts refer to selling the all the excess supply after building a corner as “burying the corpse.”
“That is when the price collapses,” explains Pirrong. “But if the number of deliveries isn’t too high, the loss from selling at the low price after the corner is smaller than the profit from selling contracts at the high price.”
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The Chicago Board of Trade trading floor. Photo credit: Jeremy Kemp

Even so, when the Commodity Futures Trading Commission found that a single family from Texas had contracted to buy a sizable portion of the 1977 soybean crop, they did not accuse the Hunts of outright market manipulation. Instead, noting that the Hunts had exceeded the 3 million bushel aggregate limit on soybean holdings by about 20 million, the CFTC noted that the Hunt’s “excessive holdings threaten disruption of the market and could cause serious injury to the American public.” The CFTC ordered the Hunts to sell and to pay a penalty of $500,000.
Though the Hunts made tens of millions of dollars on paper while soybean prices skyrocketed, it’s unclear whether they were able to cash out before the regulatory intervention. In any case, the Hunts were none too pleased with the decision.
“Apparently the CFTC is trying to repeal the law of supply and demand,” Bunker complained to the press.
Silver Thursday
Despite the run in with regulators, the Hunts were not dissuaded. Bunker and Herbert had eased up on silver after their initial big buy in 1973, but in the fall of 1979, they were back with a vengeance. By the end of the year, Bunker and Herbert owned 21 million ounces of physical silver each. They had even larger positions in the silver futures market: Bunker was long on 45 million ounces, while Herbert held contracts for 20 million. Their little brother Lamar also had a more “modest” position.
By the new year, with every dollar increase in the price of silver, the Hunts were making $100 million on paper. But unlike most investors, when their profitable futures contracts expired, they took delivery. As in 1973, they arranged to have the metal flown to Switzerland. Intentional or not, this helped create a shortage of the metal for industrial supply.
Naturally, the industrialists were unhappy. From a spot price of around $6 per ounce in early 1979, the price of silver shot up to $50.42 in January of 1980. In the same week, silver futures contracts were trading at $46.80. Film companies like Kodak saw costs go through the roof, while the British film producer, Ilford, was forced to lay off workers. Traditional bullion dealers, caught in a squeeze, cried foul to the commodity exchanges, and the New York jewelry house Tiffany & Co. took out a full page ad in the New York Times slamming the “unconscionable” Hunt brothers. They were right to single out the Hunts; in mid-January, they controlled 69% of all the silver futures contracts on the Commodity Exchange (COMEX) in New York.
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Source: New York Times

But as the high prices persisted, new silver began to come out of the woodwork.
“In the U.S., people rifled their dresser drawers and sofa cushions to find dimes and quarters with silver content and had them melted down,” says Pirrong, from the University of Houston. “Silver is a classic part of a bride’s trousseau in India, and when prices got high, women sold silver out of their trousseaus.”
According to a Washington Post article published that March, the D.C. police warned residents of a rash of home burglaries targeting silver.
Unfortunately for the Hunts, all this new supply had a predictable effect. Rather than close out their contracts, short sellers suddenly found it was easier to get their hands on new supplies of silver and deliver.
“The main factor that has caused corners to fail [throughout history] is that the manipulator has underestimated how much will be delivered to him if he succeeds [at] raising the price to artificial levels,” says Pirrong. “Eventually, the Hunts ran out of money to pay for all the silver that was thrown at them.”
In financial terms, the brothers had a large corpse on their hands—and no way to bury it.
This proved to be an especially big problem, because it wasn’t just the Hunt fortune that was on the line. Of the $6.6 billion worth of silver the Hunts held at the top of the market, the brothers had “only” spent a little over $1 billion of their own money. The rest was borrowed from over 20 banks and brokerage houses.
At the same time, COMEX decided to crack down. On January 7, 1980, the exchange’s board of governors announced that it would cap the size of silver futures exposure to 3 million ounces. Those in excess of the cap (say, by the tens of millions) were given until the following month to bring themselves into compliance. But that was too long for the Chicago Board of Trade exchange, which suspended the issue of any new silver futures on January 21. Silver futures traders would only be allowed to square up old contracts.
Predictably, silver prices began to slide. As the various banks and other firms that had backed the Hunt bullion binge began to recognize the tenuousness of their financial position, they issued margin calls, asking the brothers to put up more money as collateral for their debts. The Hunts, unable to sell silver lest they trigger a panic, borrowed even more. By early March, futures contracts had fallen to the mid-$30 range.
Matters finally came to a head on March 25, when one of the Hunts’ largest backers, the Bache Group, asked for $100 million more in collateral. The brothers were out of cash, and Bache was unwilling to accept silver in its place, as it had been doing throughout the month. With the Hunts in default, Bache did the only thing it could to start recouping its losses: it start to unload silver.
On March 27, “Silver Thursday,” the silver futures market dropped by a third to $10.80. Just two months earlier, these contracts had been trading at four times that amount.
The Aftermath
After the oil bust of the early 1980s and a series of lawsuits polished off the remainder of the Hunt brothers’ once historic fortune, the two declared bankruptcy in 1988. Bunker, who had been worth an estimated $16 billion in the 1960s, emerged with under $10 million to his name. That’s not exactly chump change, but it wasn’t enough to maintain his 500-plus stable of horses,.
The Hunts almost dragged their lenders into bankruptcy too—and with them, a sizable chunk of the U.S. financial system. Over twenty financial institutions had extended over a billion dollars in credit to the Hunt brothers. The default and resulting collapse of silver prices blew holes in balance sheets across Wall Street. A privately orchestrated bailout loan from a number of banks allowed the brothers to start paying off their debts and keep their creditors afloat, but the markets and regulators were rattled.
Silver Spot Prices Per Ounce (January, 1979 - June, 1980)
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Source: Trading Economics

In the words of then CFTC chief James Stone, the Hunts’ antics had threatened to punch a hole in the “financial fabric of the United States” like nothing had in decades. Writing about the entire episode a year later, Harper’s Magazine described Silver Thursday as “the first great panic since October 1929.”
The trouble was not over for the Hunts. In the following years, the brothers were dragged before Congressional hearings, got into a legal spat with their lenders, and were sued by a Peruvian mineral marketing company, which had suffered big losses in the crash. In 1988, a New York City jury found for the South American firm, levying a penalty of over $130 million against the Hunts and finding that they had deliberately conspired to corner the silver market.
Surprisingly, there is still some disagreement on that point.
Bunker Hunt attributed the whole affair to the political motives of COMEX insiders and regulators. Referring to himself later as “a favorite whipping boy” of an eastern financial establishment riddled with liberals and socialists, Bunker and his brother, Herbert, are still perceived as martyrs by some on the far-right.
“Political and financial insiders repeatedly changed the rules of the game,” wrote the New American. “There is little evidence to support the ‘corner the market’ narrative.”
Though the Hunt brothers clearly amassed a staggering amount of silver and silver derivatives at the end of the 1970s, it is impossible to prove definitively that market manipulation was in their hearts. Maybe, as the Hunts always claimed, they just really believed in the enduring value of silver.
Or maybe, as others have noted, the Hunt brothers had no idea what they were doing. Call it the stupidity defense.
“They’re terribly unsophisticated,” an anonymous associated was quoted as saying of the Hunts in a Chicago Tribune article from 1989. “They make all the mistakes most other people make,” said another.
p.s. credit to Ben Christopher

First mover advantage and network effect. The big lies in crypto. Don't fall for it.

I figured I would write this up because I keep seeing people making these unfair and misleading first movenetwork effect arguments over and over again, they are just lies. Being first mover or having network effect are not magic things that make everything oke and removes all competition.

First mover advantage

There are more disadvantages to being first mover in this space and tech in general than advantages, the first mover advantage is arguably even a myth. Most of today’s behemoths – from Google and Facebook to Instagram and TikTok – were not first-movers. Moreover, the last 20 years have seen a flood of first-movers failing, with companies like Nokia, Yahoo and G.M. all facing dire straits or going under completely. These are not outliers.
First mover disadvantages: https://en.wikipedia.org/wiki/First-mover_advantage#Disadvantages_of_being_a_first_mover

Network effect

Network effect matters, it matters a lot. But there is no such thing as an insurmountable network effect, especially in the current crypto space. There are plenty of examples of disruption of very dominant actors in different industries. Microsoft was a monopoly and Apple managed to take a huge chunk of market share. Yahoo was the dominant search engine and Google took over. Nokia had a 50% market share in the mobile phone industry... Nobody uses MySpace anymore...

Why network effects in crypto are not that significant.
The size of the crypto industry is tiny compared to many other industries and seeing the potential it has. There is so much room to grow. The crypto industry is now at a $1 trillion marketcap. That's a whole industry of a revolutionary new technology that's not even worth half of Apple, one company, alone (https://companiesmarketcap.com/). And there are so many use cases not realized yet. I would argue there hasn't even been real adoption yet, the top applications are DeFi which is for the vast majority used by speculators and yield farmers and not real users, gambling and scams. And there are 22.6M developers in the world while there are only 80k Solidity developers on Ethereum.
There are also NEGATIVE network effects. Instead of 'more users = better experience = more users joining' you get 'more users = worse experience = users leaving'. (https://en.wikipedia.org/wiki/Network_effect#Negative_network_externalities) We have already seen negative network effects happen and they come to light the best when we are in a bull run (more users join). In 2017 Bitcoin was congested and transaction times and fees skyrocketed (worse experience). The narrative changed from 'p2p cash' used by merchants etc. (usage of Bitcoin in daily transactions was shilled heavily before the network got congested) to 'SoV' only. And people moved over to other solutions and Bitcoin dominance dropped (users leave). Ethereum had similar issues around that time, Cryptokitties alone pretty much stopped Ethereum from working. And currently Ethereum has major issues with congestion and high gas fees as a result. These negative network effects are only going to become worse the more users try to join unless the issues are fixed.
Bitcoin was promised Lightning Network to solve it's scalability issues but as far as I know it is not being adopted after 3-4 years of development and pushing for adoption. So Bitcoin is currently going to stay a SoV only and/or there will be heavy network congestion this bull run.
Ethereum is moving to PoS to solve this but ETH 2.0 is at the very least still a year away, this is way too late for the mass of new users that are coming in. Layer 2 scaling solutions are promised to keep Ethereum running properly until ETH 2.0 but we have yet to see this really happen.

How Cardano plays into this

Cardano was inspired by Bitcoin and learned from the mistakes of both Bitcoin and Ethereum. They took all the good things, got rid of all the bad things and improved. They took Bitcoins monetary policy and security properties for example and improved on e.g. scalability, energy consumption and decentralization. Cardano has the same if not better properties as Bitcoin to be a SoV, let that sink in. They learned from Ethereums problems that arose over the years like the DAO hack and used a rigorous principles first approach using academic peer review, formal methods and a functional programming language to prevent these problems from occuring, this is going to be the industry standard for development (to understand why peer review and formal methods matters see In Defense of Peer Review and what formal methods are https://en.wikipedia.org/wiki/Formal_methods). And created Plutus and Marlowe to minimize bugs/mistakes which were often made using Solidity. They learned from UTxO and account based models and created Extended UTxO which has more benefits. They learned from the terrible fee structure Ethereum has and improved to prevent high fee issues. They learned from the problems Ethereum governance has and made it more decentralized and efficient. They learned that non-profit development running on donations is not sustainable and created an on-chain treasury to fund Cardano development in a decentralized way. The list goes on and on. Also don't forget that IOG is years ahead in research and there is tons of improvements yet to come. The first mover disadvantage here is huge.
There are 22.6M developers in the world and Ethereum has only 80k Solidity developers. Cardano is going to tap into the remaining 22.5M developers and make it easy for Solidity developers to move over to Cardano with IELE, KEVM and the ERC20 converter, see: The Island, The Ocean and the Pond (Soon). You tell me if having 80k developers in a group of 22.6M developers is a network effect anyone should be fearing.
Cardano has an on-chain treasury that is replenished by transaction fees and the reserves. It's worth almost $200M at current ADA price, imagine when ADA is $1 or much much higher. This is a forever sustainable source to fund development. Cardano does not have to rely on unsustainable donations or centralized entities deciding on funding. It will fund projects every 6 weeks and will just keep on chugging along forever. This will attract developers continuously. See Catalyst (link provided by bot in the comments). You tell me if this will bring network effect faster than some enthousiasts building on Ethereum.
IOG's other strategy for adoption is to bring economic identity to billions of people in developing countries. The idea behind this is that there will be less resistance than in developed countries to adopt the technology because these countries need it the most (most are unbanked and don't have financial services or good solutions for other problems like identification, land registry, etc. unlike people in the US or EU), don't have incumbents who will resist, have a young population who can adopt new technology more easily and it makes them able to compete in the global market. They also have the fastest growing economies and there is a lot more value to create. And when these countries adopt crypto and show the value it creates for them then developed countries will follow more easily. This will bring millions of users who will use Cardano for real problems they have not to gamble or be a "yield farmer", this is lasting real adoption. IOG has been working in Africa for 3-4 years and is really close to closing a multi million users deal in Ethiopia. See this latest interview with IOG's African Operations Director: https://www.youtube.com/watch?v=MUPKtfTLvAk. And when Fortune 500 companies can easily reach all those millions of people in Africa with their products and services and can play in those markets then they have incentive to use Cardano. Again, you tell me if this is a better way to get adoption and network effect than whatever Ethereum is doing. You tell me if millions of real users is not going to create network effect.

Anyone who is not utterly biased will come to the conclusion that Cardano can challenge and pass Ethereum and Bitcoin. Keep using critical thinking. Think for yourself. Do your own research.

FAQs for the Recent Influx of new Users

I've noticed a lot of new people in here asking some obvious questions to those of us who have been around for a while. So to generate new and better discussion I want to answer some of these frequently asked questions.

1. Where can I find information about these companies
I hope you haven't bought any of these names before you did research and before you even know where to start looking. First place you should go to is Google and type in " investor relations". If this is too much you can shorten it to " IR". It should be the first link in every case and if it's not then that's already a red flag.
Read about the companies products, how they operate. Read their MD&A, read their financial statements from the last few years. Maybe look at product reviews or review the products yourselves. Watch interviews with the CEO. Find out what makes this company unique, operationally effective and worth buying for consumers. You should quickly figure out that APHA is NOT a cannabis company, but a consumer packaged good company. They own Cannabis, Alcohol, and Pharma businesses (plus hemp after the TLRY merger).
Doing your DD should take time. Don't be in a rush to buy the stock because it's run up 100% in the past few weeks. If you look at the chart, 2 years ago these companies rocketed upwards to ATHs, you could have waited another year or so and bought lower. Are we taking off to the moon and never coming back? Probably not.

2. Where can I buy these companies? Are they on Robinhood?
First, ditch Robinhood a get a broker that won't go under in the next few years. Pay a trading fee if you need to but just buy enough stock to make the tade worth it. Don't buy $20 of Apha on investorline or you're immediately taking a 50% haircut with a $9.95 trading fee.
Second, you can buy these companies on most/all legit trading platforms. I won't name them all but all of the big Canadian banks self-directed platforms have them. I'm not American so I can't speak for them but I've heard good things about Fidelity and Vanguard.
Oh, did you also mean what exchanges can I buy them on? Big Canadian names are on the major exchanges like TSX and Nasdaq. Smaller names are on the CSE and OTC markets. US names can't list on the big exchanges because your government decided cannabis was bad like 50 yrs ago so those are only on the OTC and CSE markets. MSOs is a fund on the NYSE (I think) that hold some sort of swaps on the US names but I personally just buy the names myself. Again, do you own DD, even if you're buying a fund.

3. This stock went up x% in the last y time, should I buy it or wait for a dip?
This ties into point 1 above, so if you've done your DD you should know if the company is worth what it is priced at. The market does wacky shit all the time (see Gamestop, morgage crisis, great depression) so it'll go up and down, but generally follow along the trajectory of the company profits. If the profits increase by 5x in 10 years, the stock price will do the same. If you're asking for predictions in the short term consult a fortune teller, roll dice or find one of those pets that pick stocks.

4. What stocks should I buy? How do you feel about x company?
See 1, then 3. I can't tell you what companies are good in the space better than your own research. Especially since you don't know what my plans are. Maybe a poster says buy "Apha" but they're only holding until the TLRY merger closes. They'll never tell you when they're selling so if it drops you'll be scratching your head. Do a bunch of research on the main players, then some smaller guys and figure out what you can stomach. Maybe a cannabis ETF is right for you or maybe 1 or 2 strong picks or maybe you like gambling with penny stocks. Just do your own DD.
Popular names and good places to start are:

Canadian names: APHA/TLRY, CGC/WEED, ACB, CRON
US names: CURA, TRUL, CL, GTII

5. Should I buy leaps or warrents or calls or puts? Also what are derivatives?
If you have to ask, no. I'm also not going to explain because I don't know either.

6. I bought Gamestop at all time highs and I sold and lost 90%, is cannabis good?
No, kindly take your paper hands and go back to WSB. We don't want investors in this space who sell at the first 10% drop after an 100% run, or after a 50% drop from ATHs, or after a short report from some short selling parasites. We hold because this is a once in a lifetime opportunity of a product moving from the illicit market to the legal market. There is no need to build up demand, merely move the consumer from buying from their dealer to our dealer. This will take time, regulatory changes, perception changes and most importantly, your patience.

7. Any small companies you can reccomend?
Being a small company in this space comes with distinct disadvantages. Price compression in Canada will kill small/medium sized growers since they can't achieve postive margins without scale. Add in some mould on even 1 harvest and the losses have destroyed your business. On the US side, regulations are weird and vary across different states. Califonia is a dumpster fire, Florida requires you to be vertically integrated, and other states have limited licences for retail and grows. Think about how hard it would be to get a foothold in Florida as a small business. Think about how valuable a licence is in limited licence states. Maybe your small player is looking for licences and gets NONE. That's devastating. Curaleaf misses 1 licence? Not great, but they have other applications in multiple states.
If you're buying a small company or penny stock, know the risks and do extra DD.
THERE HAVE BEEN COMPANIES THAT ARE FRAUDULENT IN THIS INDUSTRY.
COMPANIES HAVE GONE BANKRUPT IN THIS INDUSTRY.
Canntrust was legit but had fake walls with more plants behind them. Ignite was run by Dan Bilzerian. YOUR PICKS ARE NOT IMMUNE FROM GOING BANKRUPT.
Let me repeat the most important point: THERE HAVE BEEN COMPANIES THAT ARE FRAUDULENT IN THIS SPACE.

8. I wanna buy because of US legalization! When will Cannabis be legalized in the US?
Asking for a specific date is dumb and assuming that it's going to pass is dumber. Yes, Democrats control all 3 branches of government and yes, they are more cannabis friendly than Republicans and yes, some Republican states also recently legalized cannabis. THIS DOES NOT MEAN LEGALIZATION WILL PASS THIS YEAR, OR EVEN UNDER THIS CONGRESS OR PRESIDENT. Some Republicans in the house voted for cannabis regulation under Trump and some Democrats voted against it. We have no idea how the senate will vote and it doesn't take many votes to torpedo any legislation.
If you know the US Cannabis space right now you'll know that descheduling and getting access to lower tax rates, access to capital and ability to cross state lines are some of the most important regulatory changes that need to happen. Look up the ~~208e~~280e tax code. Seriously do it. Full legalization is nice but also unlikely.

If I've missed any questions post them below. and I'll add them.

TL:DR: Do your own DD. Start here:

Canadian names: APHA/TLRY, CGC/WEED, ACB, CRON
US names: CURA, TRUL, CL, GTII

EDIT: Adding in some resources for those who want more. These are my own resources I use/used to get started. If you have resources to share please do so but don't self promote you ding dongs.

Resources
New to Investing:

Most people think Warren Buffet is the GOAT but Peter Lynch is also a GOAT in his own right and a better speaker.
People also think you need to read through all of "The Intelligent Investor" before you can start investing but that's bs. Read "One up on Wallstreet" by Peter Lynch. It's like 300 pages shorter and more fun. Then read Intelligent Investor if you want but if you get 20 pages in and fall asleep or feel stupid then I told you so.
Martin Shkreli is an asshat but he knows the finance side of valuing companies. His finance lessons are awesome if you stand him for a few hours at a time. Follow along with your own companies.

Cannabis Resources:

The sidebar has great resources. ~~Stateside cannabis investors~~(EDIT: Currently down) is awesome for the US side.
The OCS releases a quarterly report you should read for Canada. Hell, go to OCS.ca and see what products are available and prices. Go to the BC page, the quebec page etc...
Statscan has a cannabis hub. It's updated super rarely and it might be archived but it's good to look at to start.

Fire Stock Ultimate DD 🌝 or 💩

I have seen (TSX: FIRE) (OTCQX: SPRWF) get a lot of hype the last few days. It has been the second most actively traded stock on the TSX in the last ten days. They also have a ticker that is literally 🔥 and a brand name that is ultimately supreme. I couldn’t think of a bettedouchier name and ticket for a Cannabis company.

Now the question is, should we buy into the hype?

First, what is $FIRE?
$FIRE = the Supreme Cannabis Company produces marijuana under the banner of its wholly-owned subsidiary 7 Acres. They have a 440,000 square Cultivation facility. They also claim to have a robust R&D and genetics program, advance processing and automated packaging capabilities, and is Health Canada licensed for the sale of cannabis 2.0 products. They claim they have emerged as one of the world’s fastest-growing, premium plant driven-lifestyle company by effectively deploying capital to build a diversified portfolio of successful cannabis brands. I personally feel like every Cannabis company says the same thing so that’s nothing new.
Long story short, Supreme grow and hold Cannabis supplies their partners who produce specific products. Their partners are 7Acres, Blissco, Truverra, Sugar Leaf and Hiway (see picture below).
In FY2020, Supreme Cannabis brought +35 cannabis consumer products to 10 provinces across Canada, formed an industry leading sales partnership, maintained a strong wholesale business and completed its first international medical cannabis export.

Here is a screenshot of what each “partner” is licensed to sell and where they can sell it.

All of them look like relatively decent partners that produce product and supply it to primarily Canada. They got licensed in 2019 to sell cannabis oil, weird that the stock dropped so much after that. Weed stock hype died down the last year I think, but with the resurgence I feel like this stock is in a decent position.
Summary: Looks pretty run of the mill, nothing revolutionary, nothing bad. At least they have partners, a product and a decent grow operation.

Financials:

https://preview.redd.it/zw8ze7o8dwf61.png?width=2612&format=png&auto=webp&s=c069d60dfc3a424ae19c653ced14c4b03de4dfa8
Comparing FIRE to other major and small cap weed companies there is nothing overly concerning/amazing. Fire did post a loss in its most recent financial year of CA$139m and a latest trailing-twelve-month loss of CA$93m shrinking the gap between loss and breakeven. Note they did offer a big 100m fundraiser to generate capital for new partnerships, expansion.
I personally am of the belief that you need to attack to grow a business. Especially in crowded sectors such as Cannabis. I would rather see them look to create change and shake it up. You NEED to do something after having your market cap shrink as much as they have. Also keep in mind losses aren’t inherently bad as a company needs to invest to grow, but they do they to post positive earnings. They have their earnings coming up soon, so this is where momentum can change, if they can post a good quarter, I feel like the stock could explode. They are projected to grow 77.82% per year, plus the CEO has a good track record so it looks promising (more of that below).
But do note do not have a ton of cash to keep them fluid, so this earnings report is super important. They’ve missed their last four quarters and they need to start producing some profit.
Their earnings report will be announced Feb 11, 2021. People might be accumulating and generating hype on the hope of a good earnings report. This is similar to what happened with $SCR. Score absolutely blew up after they had a good earnings report after several consecutive quarters at a loss. Keep in mind this isn’t always the case (just look at AMD).
Summary: If you're willing to wager on this earnings reports being positive, this is nothing to worry about. If you're super adverse to risk, I would maybe stay away. Could be huge upside, but it is a gamble.

Team:

April 27, 2020 the company made a wise move, bringing in Beena The Beauty Goldenberg: Beena is now President & CEO of Supreme Cannabis Company. Goldenberg brings 30 years of CPG experience to her roles at Supreme. For the last 15 years, she worked in the natural and organics space. As the CEO of Hain-Celestial Canada, she grew the business from approximately $40 million to over $300 million by the time she left in 2020.
Here is a statement of Beena speaking pure fire about fire:

I joined Supreme Cannabis as President & CEO in April because I was drawn to the Company’s focus on quality – not just in our products, practices, and facilities – but in the emphasis our people place on continuous improvement across the organization. Since joining, I have seen us make significant progress in transforming ourselves into a premier cannabis CPG company.

It looks like Beena the beauty is in here to shake things up and bring some growth to this company. She noted that 2020 was a tough year for Cannabis growth, but it is clear a lot of investors are bullish on its opportunity in 2021. She came in and made some tough choices which I like, such as restructuring the organizational model, and adjusting the assumed valuations on parts of the business. Good to hear she made some cuts, shook things up and is looking to bring FIRE back to it’s 2018 hype.
I didn’t look into the rest of the team too much, they all look pretty run of the mill executives. If someone wants to look more into the team it would be appreciated.
Otherwise they have a 400 employee team everything looks pretty granola for the size of their operation.
Summary: In Beena the beauty we trust.

Now that you probably know more about FIRE than your degree, the big question is wether there is news to support the recent price action/drive up more in the future?

Playing with B2B sales. They struck an agreement with Breath of Life International Ltd. to offer Truverra-branded premium medical cannabis to patients in Israel. To date, we have made three shipments of medical cannabis through the agreement. This “capitallight” approach further diversifies our revenue and builds Truverra as a global medical brand.
^ This is good because it shows they’re looking for international partners. This is where the real money is IMO, especially if legislation starts to change around the world regarding Cannabis products.
Earnings on Feb 11
^ Gamble, I feel like it will be better, but if it isn’t great, I think the price will take a beating again. If it’s good 🚀
I’m sure they’re seeking out more partners, opportunity for growth, new CEO is making the right moves. They just need to get their earnings up.
Opportunity for mergers is another positive option.
u/Hunterston noted that PepsiCo & Monsanto may have invested interests in the stock. He claims that BOL Pharma got their foot in the canadian market thru Supreme. supreme has sent 4 shipments to them and BOL afterwards sent a shipment to the UK with outstanding results. Potential shipments to Australia? I suspect we can learn a lot on the earnings call so we'll see if this is all true. This could further pump price action.

TDLR
Should you buy? I will buy. I am not comfortable YOLO’ing in this company but I feel like there is decent upside. It really depends on this earnings report, if you get in early you could get some great returns but you could also be investing in a dying company. They aren’t an insanely healthy company, so I would go into this with some skepticism. I have personally been looking for a decent weed play and I feel like this is as good as any for earning potential.
They have a product, earnings, and partnerships + plans, I can definitely see this company experiencing some growth. So much of this is dependant on earnings and it’s a decent company, but it isn’t really revolutionary. The weed sector is still new and so pillared to regulation. Governments are going to be looking for new $ after all the stimulus they’ve been giving so they should be more accepting of emerging sectors, but ultimately bureaucracy does what it will.
I’m not going to lie, one decent reason to buy is their branding. I can just see a lot of you shmelts getting fired up about FIRE because of the ticker and the company name supreme. I know this isn’t the most sound financial logic, but this is memorable and because of the low market cap, unique branding and potential, I can see it getting pumped by communities and P2P conversations.
I am not a financial advisor, make your own educated decisions, but I will likely be buying 5-10k shares to hold for a few years. Hopefully this helped 🚀 🚀 🚀

Playboy going public: Porn, Gambling, and Cannabis

NEW INFO 5 Results from share redemption are posted. Less than .2% redeemed. Very bullish as investors are showing extreme confidence in the future of PLBY.
https://finance.yahoo.com/news/playboy-mountain-crest-acquisition-corp-120000721.html
NEW INFO 4 Definitive Agreement to purchase 100% of Lovers brand stores announced 2/1.
https://www.streetinsider.com/Corporate+News/Playboy+%28MCAC%29+Confirms+Deal+to+Acquire+Lovers/17892359.html
NEW INFO 3 I bought more on the dip today. 5081 total. Price rose AH to $12.38 (2.15%)
NEW INFO 2 Here is the full webinar.
https://icrinc.zoom.us/rec/play/9GWKdmOYumjWfZuufW3QXpe_FW_g--qeNbg6PnTjTMbnNTgLmCbWjeRFpQga1iPc-elpGap8dnDv8Zww.yD7DjUwuPmapeEdP?continueMode=true&tk=lEYc4F_FkKlgsmCIs6w0gtGHT2kbgVGbUju3cIRBSjk.DQIAAAAV8NK49xZWdldRM2xNSFNQcTBmcE00UzM3bXh3AAAAAAAAAAAAAAAAAAAAAAAAAAAA&uuid=WN_GKWqbHkeSyuWetJmLFkj4g&_x_zm_rtaid=kR45-uuqRE-L65AxLjpbQw.1611967079119.2c054e3d3f8d8e63339273d9175939ed&_x_zm_rhtaid=866
NEW INFO 1 Live merger webinar with PLBY and MCAC on Friday January 29, 2021 at 12:00 NOON EST link below
https://mcacquisition.com/investor-relations/press-release-details/2021/Playboy-Enterprises-Inc.-and-Mountain-Crest-Acquisition-Corp-Participate-in-SPACInsider-ICR-Webinar-on-January-29th-at-12pm-ET/default.aspx
Playboy going public: Porn, Gambling, and Cannabis
!!!WARNING READING AHEAD!!! TL;DR at the end. It will take some time to sort through all the links and read/watch everything, but you should.
In the next couple weeks, Mountain Crest Acquisition Corp is taking Playboy public. The existing ticker MCAC will become PLBY. Special purpose acquisition companies have taken private companies public in recent months with great success. I believe this will be no exception. Notably, Playboy is profitable and has skyrocketing revenue going into a transformational growth phase.
Porn - First and foremost, let's talk about porn. I know what you guys are thinking. “Porno mags are dead. Why would I want to invest in something like that? I can get porn for free online.” Guess what? You are absolutely right. And that’s exactly why Playboy doesn’t do that anymore. That’s right, they eliminated their print division. And yet they somehow STILL make money from porn that people (see: boomers) pay for on their website through PlayboyTV, Playboy Plus, and iPlayboy. Here’s the thing: Playboy has international, multi-generational name recognition from porn. They have content available in 180 countries. It will be the only publicly traded adult entertainment (porn) company. But that is not where this company is going. It will help support them along the way. You can see every Playboy magazine through iPlayboy if you’re interested. NSFW links below:
https://www.playboy.com/
https://www.playboytv.com/
https://www.playboyplus.com/
https://www.iplayboy.com/
Gambling - Some of you might recognize the Playboy brand from gambling trips to places like Las Vegas, Atlantic City, Cancun, London or Macau. They’ve been in the gambling biz for decades through their casinos, clubs, and licensed gaming products. They see the writing on the wall. COVID is accelerating the transition to digital, application based GAMBLING. That’s right. What we are doing on Robinhood with risky options is gambling, and the only reason regulators might give a shit anymore is because we are making too much money. There may be some restrictions put in place, but gambling from your phone on your couch is not going anywhere. More and more states are allowing things like Draftkings, poker, state ‘lottery” apps, hell - even political betting. Michigan and Virginia just ok’d gambling apps. They won’t be the last. This is all from your couch and any 18 year old with a cracked iphone can access it. Wouldn’t it be cool if Playboy was going to do something like that? They’re already working on it. As per CEO Ben Kohn who we will get to later, “...the company’s casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth.” Honestly, I stopped researching Scientific Games' sports betting segment when I saw the word ‘omni-channel’. That told me all I needed to know about it’s success.
“Our SG Sports™ platform is an enhanced, omni-channel solution for online, self-service and retail fixed odds sports betting – from soccer to tennis, basketball, football, baseball, hockey, motor sports, racing and more.”
https://www.scientificgames.com/
https://www.microgaming.co.uk/
“This latter segment has become increasingly enticing for Playboy, and it said last week that it is considering new tie-ups that could include gaming operators like PointsBet and 888Holdings.”
https://calvinayre.com/2020/10/05/business/playboys-gaming-ops-could-get-a-boost-from-spac-purchase/
As per their SEC filing:
“Significant consumer engagement and spend with Playboy-branded gaming properties around the world, including with leading partners such as Microgaming, Scientific Games, and Caesar’s Entertainment, steers our investment in digital gaming, sports betting and other digital offerings to further support our commercial strategy to expand consumer spend with minimal marginal cost, and gain consumer data to inform go-to-market plans across categories.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tMDAA1
They are expanding into more areas of gaming/gambling, working with international players in the digital gaming/gambling arena, and a Playboy sportsbook is on the horizon.
https://www.playboy.com/read/the-pleasure-of-playing-with-yourself-mobile-gaming-in-the-covid-era
Cannabis - If you’ve ever read through a Playboy magazine, you know they’ve had a positive relationship with cannabis for many years. As of September 2020, Playboy has made a major shift into the cannabis space. Too good to be true you say? Check their website. Playboy currently sells a range of CBD products. This is a good sign. Federal hemp products, which these most likely are, can be mailed across state lines and most importantly for a company like Playboy, can operate through a traditional banking institution. CBD products are usually the first step towards the cannabis space for large companies. Playboy didn’t make these products themselves meaning they are working with a processor in the cannabis industry. Another good sign for future expansion. What else do they have for sale? Pipes, grinders, ashtrays, rolling trays, joint holders. Hmm. Ok. So it looks like they want to sell some shit. They probably don’t have an active interest in cannabis right? Think again:
https://www.forbes.com/sites/javierhasse/2020/09/24/playboy-gets-serious-about-cannabis-law-reform-advocacy-with-new-partnership-grants/?sh=62f044a65cea
“Taking yet another step into the cannabis space, Playboy will be announcing later on Thursday (September, 2020) that it is launching a cannabis law reform and advocacy campaign in partnership with National Organization for the Reform of Marijuana Laws (NORML), Last Prisoner Project, Marijuana Policy Project, the Veterans Cannabis Project, and the Eaze Momentum Program.”
“According to information procured exclusively, the three-pronged campaign will focus on calling for federal legalization. The program also includes the creation of a mentorship plan, through which the Playboy Foundation will support entrepreneurs from groups that are underrepresented in the industry.” Remember that CEO Kohn from earlier? He wrote this recently:
https://medium.com/naked-open-letters-from-playboy/congress-must-pass-the-more-act-c867c35239ae
Seems like he really wants weed to be legal? Hmm wonder why? The writing's on the wall my friends. Playboy wants into the cannabis industry, they are making steps towards this end, and we have favorable conditions for legislative progress.
Don’t think branding your own cannabis line is profitable or worthwhile? Tell me why these 41 celebrity millionaires and billionaires are dummies. I’ll wait.
https://www.celebstoner.com/news/celebstoner-news/2019/07/12/top-celebrity-cannabis-brands/
Confirmation: I hear you. “This all seems pretty speculative. It would be wildly profitable if they pull this shift off. But how do we really know?” Watch this whole video:
https://finance.yahoo.com/video/playboy-ceo-telling-story-female-154907068.html
Man - this interview just gets my juices flowing. And highlights one of my favorite reasons for this play. They have so many different business avenues from which a catalyst could appear. I think paying attention, holding shares, and options on these staggered announcements over the next year is the way I am going to go about it. "There's definitely been a shift to direct-to-consumer," he (Kohn) said. "About 50 percent of our revenue today is direct-to-consumer, and that will continue to grow going forward.” “Kohn touted Playboy's portfolio of both digital and consumer products, with casino-style gaming, in particular, serving a crucial role under the company's new business model. Playboy also has its sights on the emerging cannabis market, from CBD products to marijuana products geared toward sexual health and pleasure.” "If THC does become legal in the United States, we have developed certain strains to enhance your sex life that we will launch," Kohn said. https://cheddar.com/media/playboy-goes-public-health-gaming-lifestyle-focus Oh? The CEO actually said it? Ok then. “We have developed certain strains…” They’re already working with growers on strains and genetics? Ok. There are several legal cannabis markets for those products right now, international and stateside. I expect Playboy licensed hemp and THC pre-rolls by EOY. Something like this: https://www.etsy.com/listing/842996758/10-playboy-pre-roll-tubes-limited?ga_order=most_relevant&ga_search_type=all&ga_view_type=gallery&ga_search_query=pre+roll+playboy&ref=sr_gallery-1-2&organic_search_click=1 Maintaining cannabis operations can be costly and a regulatory headache. Playboy’s licensing strategy allows them to pick successful, established partners and sidestep traditional barriers to entry. You know what I like about these new markets? They’re expanding. Worldwide. And they are going to be a bigger deal than they already are with or without Playboy. Who thinks weed and gambling are going away? Too many people like that stuff. These are easy markets. And Playboy is early enough to carve out their spot in each. Fuck it, read this too: https://www.forbes.com/sites/jimosman/2020/10/20/playboy-could-be-the-king-of-spacs-here-are-three-picks/?sh=2e13dcaa3e05
Numbers: You want numbers? I got numbers. As per the company’s most recent SEC filing:
“For the year ended December 31, 2019, and the nine months ended September 30, 2020, Playboy’s historical consolidated revenue was $78.1 million and $101.3 million, respectively, historical consolidated net income (loss) was $(23.6) million and $(4.8) million, respectively, and Adjusted EBITDA was $13.1 million and $21.8 million, respectively.”
“In the nine months ended September 30, 2020, Playboy’s Licensing segment contributed $44.2 million in revenue and $31.1 million in net income.”
“In the ninth months ended September 30, 2020, Playboy’s Direct-to-Consumer segment contributed $40.2 million in revenue and net income of $0.1 million.”
“In the nine months ended September 30, 2020, Playboy’s Digital Subscriptions and Content segment contributed $15.4 million in revenue and net income of $7.4 million.”
They are profitable across all three of their current business segments.
“Playboy’s return to the public markets presents a transformed, streamlined and high-growth business. The Company has over $400 million in cash flows contracted through 2029, sexual wellness products available for sale online and in over 10,000 major retail stores in the US, and a growing variety of clothing and branded lifestyle and digital gaming products.”
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
Growth: Playboy has massive growth in China and massive growth potential in India. “In China, where Playboy has spent more than 25 years building its business, our licensees have an enormous footprint of nearly 2,500 brick and mortar stores and 1,000 ecommerce stores selling high quality, Playboy-branded men’s casual wear, shoes/footwear, sleepwear, swimwear, formal suits, leather & non-leather goods, sweaters, active wear, and accessories. We have achieved significant growth in China licensing revenues over the past several years in partnership with strong licensees and high-quality manufacturers, and we are planning for increased growth through updates to our men’s fashion lines and expansion into adjacent categories in men’s skincare and grooming, sexual wellness, and women’s fashion, a category where recent launches have been well received.” The men’s market in China is about the same size as the entire population of the United States and European Union combined. Playboy is a leading brand in this market. They are expanding into the women’s market too. Did you know CBD toothpaste is huge in China? China loves CBD products and has hemp fields that dwarf those in the US. If Playboy expands their CBD line China it will be huge. Did you know the gambling money in Macau absolutely puts Las Vegas to shame? Technically, it's illegal on the mainland, but in reality, there is a lot of gambling going on in China. https://www.forbes.com/sites/javierhasse/2020/10/19/magic-johnson-and-uncle-buds-cbd-brand-enter-china-via-tmall-partnership/?sh=271776ca411e “In India, Playboy today has a presence through select apparel licensees and hospitality establishments. Consumer research suggests significant growth opportunities in the territory with Playboy’s brand and categories of focus.” “Playboy Enterprises has announced the expansion of its global consumer products business into India as part of a partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle Company in India.” “The Indian market today is dominated by consumers under the age of 35, who represent more than 65 percent of the country’s total population and are driving India’s significant online shopping growth. The Playboy brand’s core values of playfulness and exploration resonate strongly with the expressed desires of today’s younger millennial consumers. For us, Playboy was the perfect fit.” “The Playboy international portfolio has been flourishing for more than 25 years in several South Asian markets such as China and Japan. In particular, it has strategically targeted the millennial and gen-Z audiences across categories such as apparel, footwear, home textiles, eyewear and watches.” https://www.licenseglobal.com/industry-news/playboy-expands-global-footprint-india It looks like they gave COVID the heisman in terms of net damage sustained: “Although Playboy has not suffered any material adverse consequences to date from the COVID-19 pandemic, the business has been impacted both negatively and positively. The remote working and stay-at-home orders resulted in the closure of the London Playboy Club and retail stores of Playboy’s licensees, decreasing licensing revenues in the second quarter, as well as causing supply chain disruption and less efficient product development thereby slowing the launch of new products. However, these negative impacts were offset by an increase in Yandy’s direct-to-consumer sales, which have benefited in part from overall increases in online retail sales so far during the pandemic.” Looks like the positives are long term (Yandy acquisition) and the negatives are temporary (stay-at-home orders).
https://www.sec.gov/Archives/edgadata/1803914/000110465921006093/tm213766-1_defa14a.htm
This speaks to their ability to maintain a financially solvent company throughout the transition phase to the aforementioned areas. They’d say some fancy shit like “expanded business model to encompass four key revenue streams: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming.” I hear “we’re just biding our time with these trinkets until those dollar dollar bill y’all markets are fully up and running.” But the truth is these existing revenue streams are profitable, scalable, and rapidly expanding Playboy’s e-commerce segment around the world.
"Even in the face of COVID this year, we've been able to grow EBITDA over 100 percent and revenue over 68 percent, and I expect that to accelerate going into 2021," he said. “Playboy is accelerating its growth in company-owned and branded consumer products in attractive and expanding markets in which it has a proven history of brand affinity and consumer spend.”
Also in the SEC filing, the Time Frame:
“As we detailed in the definitive proxy statement, the SPAC stockholder meeting to vote on the transaction has been set for February 9th, and, subject to stockholder approval and satisfaction of the other closing conditions, we expect to complete the merger and begin trading on NASDAQ under ticker PLBY shortly thereafter,” concluded Kohn.
The Players: Suhail “The Whale” Rizvi (HMFIC), Ben “The Bridge” Kohn (CEO), “lil” Suying Liu & “Big” Dong Liu (Young-gun China gang). I encourage you to look these folks up. The real OG here is Suhail Rizvi. He’s from India originally and Chairman of the Board for the new PLBY company. He was an early investor in Twitter, Square, Facebook and others. His firm, Rizvi Traverse, currently invests in Instacart, Pinterest, Snapchat, Playboy, and SpaceX. Maybe you’ve heard of them. “Rizvi, who owns a sprawling three-home compound in Greenwich, Connecticut, and a 1.65-acre estate in Palm Beach, Florida, near Bill Gates and Michael Bloomberg, moved to Iowa Falls when he was five. His father was a professor of psychology at Iowa. Along with his older brother Ashraf, a hedge fund manager, Rizvi graduated from Wharton business school.” “Suhail Rizvi: the 47-year-old 'unsocial' social media baron: When Twitter goes public in the coming weeks (2013), one of the biggest winners will be a 47-year-old financier who guards his secrecy so zealously that he employs a person to take down his Wikipedia entry and scrub his photos from the internet. In IPO, Twitter seeks to be 'anti-FB'” “Prince Alwaleed bin Talal of Saudi Arabia looks like a big Twitter winner. So do the moneyed clients of Jamie Dimon. But as you’ve-got-to-be-joking wealth washed over Twitter on Thursday — a company that didn’t exist eight years ago was worth $31.7 billion after its first day on the stock market — the non-boldface name of the moment is Suhail R. Rizvi. Mr. Rizvi, 47, runs a private investment company that is the largest outside investor in Twitter with a 15.6 percent stake worth $3.8 billion at the end of trading on Thursday (November, 2013). Using a web of connections in the tech industry and in finance, as well as a hearty dose of good timing, he brought many prominent names in at the ground floor, including the Saudi prince and some of JPMorgan’s wealthiest clients.” https://www.nytimes.com/2013/11/08/technology/at-twitter-working-behind-the-scenes-toward-a-billion-dollar-payday.html Y’all like that Arab money? How about a dude that can call up Saudi Princes and convince them to spend? Funniest shit about I read about him: “Rizvi was able to buy only $100 million in Facebook shortly before its IPO, thus limiting his returns, according to people with knowledge of the matter.” Poor guy :(
He should be fine with the 16 million PLBY shares he's going to have though :)
Shuhail also has experience in the entertainment industry. He’s invested in companies like SESAC, ICM, and Summit Entertainment. He’s got Hollywood connections to blast this stuff post-merger. And he’s at least partially responsible for that whole Twilight thing. I’m team Edward btw.
I really like what Suhail has done so far. He’s lurked in the shadows while Kohn is consolidating the company, trimming the fat, making Playboy profitable, and aiming the ship at modern growing markets.
https://www.reuters.com/article/us-twitter-ipo-rizvi-insight/insight-little-known-hollywood-investor-poised-to-score-with-twitter-ipo-idUSBRE9920VW20131003
Ben “The Bridge” Kohn is an interesting guy. He’s the connection between Rizvi Traverse and Playboy. He’s both CEO of Playboy and was previously Managing Partner at Rizvi Traverse. Ben seems to be the voice of the Playboy-Rizvi partnership, which makes sense with Suhail’s privacy concerns. Kohn said this:
“Today is a very big day for all of us at Playboy and for all our partners globally. I stepped into the CEO role at Playboy in 2017 because I saw the biggest opportunity of my career. Playboy is a brand and platform that could not be replicated today. It has massive global reach, with more than $3B of global consumer spend and products sold in over 180 countries. Our mission – to create a culture where all people can pursue pleasure – is rooted in our 67-year history and creates a clear focus for our business and role we play in people’s lives, providing them with the products, services and experiences that create a lifestyle of pleasure. We are taking this step into the public markets because the committed capital will enable us to accelerate our product development and go-to-market strategies and to more rapidly build our direct to consumer capabilities,” said Ben Kohn, CEO of Playboy.
“Playboy today is a highly profitable commerce business with a total addressable market projected in the trillions of dollars,” Mr. Kohn continued, “We are actively selling into the Sexual Wellness consumer category, projected to be approximately $400 billion in size by 2024, where our recently launched intimacy products have rolled out to more than 10,000 stores at major US retailers in the United States. Combined with our owned & operated ecommerce Sexual Wellness initiatives, the category will contribute more than 40% of our revenue this year. In our Apparel and Beauty categories, our collaborations with high-end fashion brands including Missguided and PacSun are projected to achieve over $50M in retail sales across the US and UK this year, our leading men’s apparel lines in China expanded to nearly 2500 brick and mortar stores and almost 1000 digital stores, and our new men’s and women’s fragrance line recently launched in Europe. In Gaming, our casino-style digital gaming products with Scientific Games and Microgaming continue to see significant global growth. Our product strategy is informed by years of consumer data as we actively expand from a purely licensing model into owning and operating key high-growth product lines focused on driving profitability and consumer lifetime value. We are thrilled about the future of Playboy. Our foundation has been set to drive further growth and margin, and with the committed capital from this transaction and our more than $180M in NOLs, we will take advantage of the opportunity in front of us, building to our goal of $100M of adjusted EBITDA in 2025.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
Also, according to their Form 4s, “Big” Dong Liu and “lil” Suying Liu just loaded up with shares last week. These guys are brothers and seem like the Chinese market connection. They are only 32 & 35 years old. I don’t even know what that means, but it's provocative.
https://www.secform4.com/insider-trading/1832415.htm
https://finance.yahoo.com/news/mountain-crest-acquisition-corp-ii-002600994.html
Y’all like that China money?
“Mr. Liu has been the Chief Financial Officer of Dongguan Zhishang Photoelectric Technology Co., Ltd., a regional designer, manufacturer and distributor of LED lights serving commercial customers throughout Southern China since November 2016, at which time he led a syndicate of investments into the firm. Mr. Liu has since overseen the financials of Dongguan Zhishang as well as provided strategic guidance to its board of directors, advising on operational efficiency and cash flow performance. From March 2010 to October 2016, Mr. Liu was the Head of Finance at Feidiao Electrical Group Co., Ltd., a leading Chinese manufacturer of electrical outlets headquartered in Shanghai and with businesses in the greater China region as well as Europe.”
Dr. Suying Liu, Chairman and Chief Executive Officer of Mountain Crest Acquisition Corp., commented, “Playboy is a unique and compelling investment opportunity, with one of the world’s largest and most recognized brands, its proven consumer affinity and spend, and its enormous future growth potential in its four product segments and new and existing geographic regions. I am thrilled to be partnering with Ben and his exceptional team to bring his vision to fruition.”
https://www.businesswire.com/news/home/20201001005404/en/Playboy-to-Become-a-Public-Company
These guys are good. They have a proven track record of success across multiple industries. Connections and money run deep with all of these guys. I don’t think they’re in the game to lose.
I was going to write a couple more paragraphs about why you should have a look at this but really the best thing you can do is read this SEC filing from a couple days ago. It explains the situation in far better detail. Specifically, look to page 137 and read through their strategy. Also, look at their ownership percentages and compensation plans including the stock options and their prices. The financials look great, revenue is up 90% Q3, and it looks like a bright future.
https://www.sec.gov/Archives/edgadata/1803914/000110465921005986/tm2034213-12_defm14a.htm#tSHCF
I’m hesitant to attach this because his position seems short term, but I’m going to with a warning because he does hit on some good points (two are below his link) and he’s got a sizable position in this thing (500k+ on margin, I think). I don’t know this guy but he did look at the same publicly available info and make roughly the same prediction, albeit without the in depth gambling or cannabis mention. You can also search reddit for ‘MCAC’ and very few relevant results come up and none of them even come close to really looking at this thing.
https://docs.google.com/document/d/1gOvAd6lebs452hFlWWbxVjQ3VMsjGBkbJeXRwDwIJfM/edit?usp=sharing
“Also, before you people start making claims that Playboy is a “boomer” company, STOP RIGHT THERE. This is not a good argument. Simply put. The only thing that matters is Playboy’s name recognition, not their archaic business model which doesn’t even exist anymore as they have completely repurposed their business.”
“Imagine not buying $MCAC at a 400M valuation lol. Streetwear department is worth 1B alone imo.”
Considering the ridiculous Chinese growth as a lifestyle brand, he’s not wrong.
Current Cultural Significance and Meme Value: A year ago I wouldn’t have included this section but the events from the last several weeks (even going back to tsla) have proven that a company’s ability to meme and/or gain social network popularity can have an effect. Tik-tok, Snapchat, Twitch, Reddit, Youtube, Facebook, Twitter. They all have Playboy stuff on them. Kids in middle and highschool know what Playboy is but will likely never see or touch one of the magazines in person. They’ll have a Playboy hoodie though. Crazy huh? A lot like GME, PLBY would hugely benefit from meme-value stock interest to drive engagement towards their new business model while also building strategic coffers. This interest may not directly and/or significantly move the stock price but can generate significant interest from larger players who will.
Bull Case: The year is 2025. Playboy is now the world leader pleasure brand. They began by offering Playboy licensed gaming products, including gambling products, direct to consumers through existing names. By 2022, demand has skyrocketed and Playboy has designed and released their own gambling platforms. In 2025, they are also a leading cannabis brand in the United States and Canada with proprietary strains and products geared towards sexual wellness. Cannabis was legalized in the US in 2023 when President Biden got glaucoma but had success with cannabis treatment. He personally pushes for cannabis legalization as he steps out of office after his first term. Playboy has also grown their brand in China and India to multi-billion per year markets. The stock goes up from 11ish to 100ish and everyone makes big gains buying somewhere along the way.
Bear Case: The United States does a complete 180 on marijuana and gambling. President Biden overdoses on marijuana in the Lincoln bedroom when his FDs go tits up and he loses a ton of money in his sports book app after the Fighting Blue Hens narrowly lose the National Championship to Bama. Playboy is unable to expand their cannabis and gambling brands but still does well with their worldwide lifestyle brand. They gain and lose some interest in China and India but the markets are too large to ignore them completely. The stock goes up from 11ish to 13ish and everyone makes 15-20% gains.
TL;DR: Successful technology/e-commerce investment firm took over Playboy to turn it into a porn, online gambling/gaming, sports book, cannabis company, worldwide lifestyle brand that promotes sexual wellness, vetern access, women-ownership, minority-ownership, and “pleasure for all”. Does a successful online team reinventing an antiquated physical copy giant sound familiar? No options yet, shares only for now. $11.38 per share at time of writing. My guess? $20 by the end of February. $50 by EOY. This is not financial advice. I am not qualified to give financial advice. I’m just sayin’ I would personally use a Playboy sports book app while smoking a Playboy strain specific joint and it would be cool if they did that. Do your own research. You’d probably want to start here:
WARNING - POTENTIALLY NSFW - SEXY MODELS AHEAD - no actual nudity though
https://s26.q4cdn.com/895475556/files/doc_presentations/Playboy-Craig-Hallum-Conference-Investor-Presentation-11_17_20-compressed.pdf
Or here:
https://www.mcacquisition.com/investor-relations/default.aspx
Jimmy Chill: “Get into any SPAC at $10 or $11 and you are going to make money.”
STL;DR: Buy MCAC. MCAC > PLBY couple weeks. Rocketship. Moon.
Position: 5000 shares. I will buy short, medium, and long-dated calls once available.

From a Publisher re: Kickstarter Costs in Small Campaigns

Hi boardgames, I'm Zack Hiwiller. I've been posting here a long time, so I hope you will excuse one self-promoting post that has some honest discussion in it.
This week, I launched my first board game Kickstarter for Scribbletown, a tight, thinky roll-and-write game that I first signed to a publisher in 2016(!) but which got caught up in some unrelated business turmoil. The rights reverted back to me this past year, so I'm taking the dive into self-publishing on my own.
If you would like to check out the Kickstarter, it is live right now. There are links for the TTS module and a free print-and-play sample in the campaign. I certainly won't mind if you go check it out. But that's not why I'm here. There have been threads every few days about the rising costs overall of Kickstarters and I want to see if I can help shed some light.
Picture by Aspie Gamer Girl
I want to talk a little bit about the costs involved in designing and publishing a game.
Scribbletown's price is $35. It's a price I came to after a lot of work and deliberation. I knew I wanted big, etched dice from the first prototype I made. Since playing Let's Make a Bus Route, I knew I wanted everyone to have laminated boards. Since playing On Tour, I knew I wanted to support more than 4 players out of the box. These production goals rise the cost significantly and allow me to at least bill the game as "deluxe", but the quality of components aren't the problem.
Print Run Sizes: There are tiers of publishers in terms of what size print runs they can support. When everyone was freaking out about Stonemaier not printing enough Wingspan copies upon release, that first run was something like 10,000 copies. Wingspan wouldn't even be a big production run by the standards of the biggest hits in the industry. It's impossible to know what the sales are of other games, but for the names of games most of you recognize, that wouldn't be an outrageously-sized print run.
Most manufacturers will not take a print run under 1,000 copies. It isn't worth the fixed cost of creating dies and such to do so. The smaller the print run, the higher the unit cost. If I were able to print 2,000 copies of Scribbletown, I could do so around 25% cheaper than 1,000 copies. Additionally, consider all of the costs of design, development, art, advertising (oh God the marketing costs), and other business expenses are all fixed so on a per-unit basis they are higher when you print fewer. It makes games with smaller print runs much more expensive to make than would be seen just by looking at the component costs.
Consider that not having a built-in audience from previous projects mean that new publishers have to spend more on marketing to be seen. My costs for marketing have exceeded my cost for art.
Kickstarter Inertia: Let's say I could get 2,000 backers. (Fingers crossed). I couldn't go in and retroactively lower the cost of pledges by 25%. Kickstarter doesn't allow for that(*). So instead, I use the economies of scale to produce stretch goals (and hopefully bank some profit that will cover unexpected costs). But being successful at the original (higher) price lets publishers know that the market will bear that price, so there is no incentive to lower the price even at higher print run volumes unless they believe there was untapped consumer surplus at lower prices.
I think you see this in the exploding prices for minis games. They have enormous fixed costs (in comparison), so the price at the minimum order number is high. But when those campaigns go gangbusters, it just proves to everyone else that people will pay those high prices. The cycle gets vicious.
A handful of folks have pledged a dollar just to comment on my campaign or message me that they would never pay $35 for a roll-and-write, regardless of the components or complexity. Then they cancel their dollar pledge. I get it. Things can only be priced at what the market will bear. Money is always tight for everyone. But we don't know what the market will bear in advance, so you base it off of the cost of doing business and the price of games with a similar weight, complexity, and audience. I'm hoping people will see Scribbletown and compare it to medium-light and mid-weight Euros rather than the filler fare they currently see roll-and-writes as. In that case, $35 is a steal.
Shipping Costs: I could make the game with cheaper (and fewer) components and lower the price marginally, but I can't lower the shipping costs significantly. Even if I were to lower the weight by 25%, shipping wouldn't get 25% cheaper. Did you know that the costs of shipping have gone up _significantly_ in the last year? Most campaigns are already charging less for shipping than the actual total costs of shipping and handling and just absorbing the cost as part of the unit cost.
And psychologically, there is more pause given for a $20 game with $15 shipping than there would be with a $35 game with $15 shipping, even if they end up being a similar weight/volume. Lowering the overall price makes the shipping look _more_ expensive because of the ratio of price to shipping. I suspect it makes people want to wait for a retail release that may never come so that they can avoid the shipping costs.
My goal for this project is to break even and pay myself $0/hour for the hundreds of hours of design and production prep (and sleepless nights) that has gone into this project. Why? Because it will help me build for whatever the next project will be. I'm hoping to make this work long-term. But even with Kickstarter, with the ease of use of the global supply chain, with middleware services and etc that make it possible for anyone to do this, the momentum issues of starting from a small audience put new publishers behind the eight ball and make just surviving look greedy.
TL;DR:
- The more copies you can print, the lower the costs, the more units you can amortize fixed costs over and the cheaper it can be for consumers.
- New publishers without a built-in audience can't print large numbers, so their costs will be necessarily higher per-unit.
- Kickstarter doesn't allow you to change prices mid-campaign, so a campaign will likely charge whatever they think they can make do with at the smallest possible print run, even if they end up having a larger print run. This creates a cycle where that price becomes the norm even if the publisher benefits from economies of scale.
- It's hard for new and small publishers. Be kind. We know you are price sensitive. If we have success, then some day we can get into distribution and you can benefit from the scale that allows us to make games for stores that don't charge shipping. But we have to get there first.
If you want to take a gamble on a new game, try supporting independent publishers. Your marginal dollar means so much more to us than it does to those who can afford big print runs.
- Shameless end plug: Scribbletown on Kickstarter. :-) Feel free to AMA. I may write about the costs of pitching designs to publishers versus self-publishing sometime in the future.
Another picture by Aspie Gamer Girl. Check out her channel on Youtube for content in both English and Spanish. She's great.
(*) I recently pledged in a campaign that offered discounts during the KS by providing credits in the pledge manager. That's an interesting approach and I hope to see it more often in the future.

SEO is easy. The EXACT process we use to scale our clients' SEO from 0 to 200k monthly traffic and beyond

Hey guys!
There's a TON of content out there on SEO - guides, articles, courses, videos, scams, people yelling about it on online forums, etc etc..
Most of it, however, is super impractical. If you want to start doing SEO TODAY and start getting results ASAP, you'll need to do a TON of digging to figure out what's important and what's not.
So we wanted to make everyone's lives super easy and distill our EXACT process of working w/ clients into a stupid-simple, step-by-step practical guide. And so we did. Here we are.
P.S: startups, and seo loved the guide, so I thought you guys might like it too.

A bit of backstory:

If you guys haven't seen any of my previous posts, me and my co-founder own an SEO/digital marketing agency, and we've worked w/ a ton of clients helping them go from 0 to 200k+ monthly organic traffic. We've also helped some quite big companies grow their organic traffic (from 1M to over 1.8M monthly organic), using the exact same process.
So without further ado, grab your popcorn, and be prepared to stick to the screen for a while, cause this is going to be a long post. Here's everything I am going to cover:

Get your website to run and load 2x - 5x faster (with MINIMAL technical know-how)
Optimize your landing pages to rank for direct intent keywords (and drive 100% qualified leads)
Create amazing, long-form content that ranks every time
How we get a TON of links to our website with ZERO link-building efforts
How to improve your content’s rankings with Surfer SEO

Step #1 - Technical Optimization and On-Page SEO

Step #1 to any SEO initiative is getting your technical SEO right.
Now, some of this is going to be a bit technical, so you might just forward this part to your tech team and just skip ahead to "Step #2 - Keyword Research."
If you DON'T have a tech team and want a super easy tl;dr, do this:

Use WP Rocket. It's a WordPress plugin that optimizes a bunch of stuff on your website, making it run significantly faster.
Use SMUSH to (losslessly) compress all the images on your website. this usually helps a TON w/ load speed.

If you’re a bit more tech-savvy, though, read on!

Technical SEO Basics

Sitemap.xml file. A good sitemap shows Google how to easily navigate your website (and how to find all your content!). If your site runs on WordPress, all you have to do is install YoastSEO or Rankmath SEO, and they’ll create a sitemap for you. Otherwise, you can use an online XML Sitemap generation tool.
Proper website architecture. The crawl depth of any page should be lower than 4 (i.e: any given page should be reached with no more than 3 clicks from the homepage). To fix this, you should improve your interlinking (check Step #6 of this guide to learn more).
Serve images in next-gen format. Next-gen image formats (JPEG 2000, JPEG XR, and WebP) can be compressed a lot better than JPG or PNG images. Using WordPress? Just use Smush and it’ll do ALL the work for you. Otherwise, you can manually compress all images and re-upload them.
Remove duplicate content. Google hates duplicate content and will penalize you for it. If you have any duplicate pages, just merge them (by doing a 301 redirect) or delete one or the other.
Update your ‘robots.txt’ file. Hide the pages you don’t want Google to index (e.g: non-public, or unimportant pages). If you’re a SaaS, this would be most of your in-app pages. ]
Optimize all your pages by best practice. There’s a bunch of general best practices that Google wants you to follow for your web pages (maintain keyword density, have an adequate # of outbound links, etc.). Install YoastSEO or RankMath and use them to optimize all of your web pages.
If you DON’T have any pages that you don’t want to be displayed on Google, you DON’T need robots.txt.

Advanced Technical SEO

Now, this is where this gets a bit more web-devvy. Other than just optimizing your website for SEO, you should also focus on optimizing your website speed.
Here’s how to do that:
Both for Mobile and PC, your website should load in under 2-3 seconds. While load speed isn’t a DIRECT ranking factor, it does have a very serious impact on your rankings.
After all, if your website doesn’t load for 5 seconds, a bunch of your visitors might drop off.
So, to measure your website speed performance, you can use Pagespeed Insights. Some of the most common issues we have seen clients facing when it comes to website speed and loading time, are the following:

Images being resized with CSS or JS. This adds extra loading time to your site. Use GTMetrix to find which images need resizing. Use an online tool (there are a ton of free ones) to properly resize images (or Photoshop even), and re-upload them.
Images not being lazy-loaded. If your pages contain a lot of images, you MUST activate lazy-loading. This allows images that are below the screen, to be loaded only once the visitor scrolls down enough to see the image.
Gzip compression not enabled. Gzip is a compression method that allows network file transfers to happen a ton faster. In other words, your files like your HTML, CSS, and JS load a ton faster.
JS, CSS, and HTML not minified/aggregated/in-lined. If your website is loading slowly because you have 100+ external javascript files and stylesheets being requested from the server, then you need to look into minifying, aggregating, and inlining some of those files.
Use Cloudflare + BunnyCDN Why the combo? Why not just Cloudflare? Well, I won't get into details, I've experimented a bit with it, and if you are looking for something cheap and fast this is the best combo. Cloudflare you can opt in for the free account. BunnyCDN on the other hand is on a pay-as-you-go basis, and unless you are getting over 100K+ visits a month, you'll likely never go above their minimum monthly threshold of $1.

Want to make your life easier AND fix up all these issues and more? Use WP Rocket. The tool basically does all your optimization for you (if you’re using WordPress, of course).
Lastly, if you want to validate the website speed optimization changes you've made, or if you simply want to test how your current site is performing, you can use Google Page Speed Insights*.*
In May 2020, Google rolled out its Core Web Vitals update, which in layman terms means starting next May (2021), the three most important website load speed metrics you will need to worry for ranking will be:

LCP - Largest Contentful Paint -> under 2.5s
FID - First Input Delay -> under 100ms
CLS - Cumulative Layout Shift -> under 0.1

Step #2 - Keyword Research

Once your website is 100% optimized, it’s time to define your SEO strategy.
The best way to get started with this is by doing keyword research.
First off, you want to create a keyword research sheet. This is going to be your main hub for all your content operations.
You can use the sheet to:

Prioritize content
Keep track of the publishing process
Get a top-down view of your web pages

And here’s what it covers:

Target search phrase. This is the keyword you’re targeting.
Priority. What’s the priority of this keyword? We usually divide them by 1-2-3…
- Priority 3 - Top priority keywords. These are usually low competition, high traffic, well-converting, or all 3 at the same time.
- Priority 2 - Mid-priority keywords.
- Priority 1 - These are low priority.
Status. What’s the status of the article? We usually divide them by…
- 1 - Not written
- 2 - Writer has picked up the topic for the week
- 3 - The article is being written
- 4 - The article is in editing phase
- 5 - The article is published on the blog
Topic cluster. The category that the blog post belongs to.
Monthly search volume. Self-explanatory. This helps you pick a priority for the keyword.
CPC (low & high bid). Cost per click for the keyword. Generally, unless you’re planning to run search ads, these are not mandatory. They can, however, help you figure out which of your keywords will convert better. Pro tip: the higher the CPC, the more likely it is for the keyword to convert well.

Now that you have your sheet (and understand how it works), let’s talk about the “how” of keyword research.

How to do Keyword Research (Step-by-Step Guide)

There are a ton of different ways to do that (check the “further readings” at the end of this section for a detailed rundown).
Our favorite method, however, is as follows…
Start off by listing out your top 5 SEO competitors.
The key here is SEO competitors - competing companies that have a strong SEO presence in the same niche.
Not sure who’s a good SEO competitor? Google the top keywords that describe your product and find your top-ranking competitors.
Run them through SEMrush (or your favorite SEO tool), and you’ll see how well, exactly, they’re doing with their SEO.
Once you have a list of 5 competitors, run each of them through “Organic Research” on SEMrush, and you'll get a complete list of all the keywords they rank on.
Now, go through these keywords one by one and extract all the relevant ones and add them to your sheet.
Once you go through the top SEO competitors, your keyword research should be around 80%+ done.
Now to put some finishing touches on your keyword research, run your top keywords through UberSuggest and let it do its magic. It's going to give you a bunch of keywords associated with the keywords you input.
Go through all the results it's going to give you, extract anything that’s relevant, and your keyword research should be 90% done.
At this point, you can call it a day and move on to the next step. Chances are, over time, you’ll uncover new keywords to add to your sheet and get you to that sweet 100%.

Step #3 - Create SEO Landing Pages

Remember how we collected a bunch of landing page keywords in step #2? Now it’s time to build the right page for each of them! This step is a lot more straightforward than you’d think. First off, you create a custom landing page based on the keyword. Depending on your niche, this can be done in 2 ways:

Create a general template landing page. Pretty much copy-paste your landing page, alter the sub-headings, paraphrase it a bit, and add relevant images to the use-case. You’d go with this option if the keywords you’re targeting are very similar to your main use-case (e.g. “project management software” “project management system”).
Create a unique landing page for each use-case. You should do this if each use-case is unique. For example, if your software doubles as project management software and workflow management software. In this case, you’ll need two completely new landing pages for each keyword.

Once you have a bunch of these pages ready, you should optimize them for their respective keywords.
You can do this by running the page content through an SEO tool. If you’re using WordPress, you can do this through RankMath or Yoast SEO.
Both tools will give you exact instructions on how to optimize your page for the keyword.
If you’re not using WordPress, you can use SurferSEO. Just copy-paste your web page content, and it’s going to give you instructions on how to optimize it.
Once your new landing pages are live, you need to pick where you want to place them on your website. We usually recommend adding these pages to your website’s navigation menu (header) or footer.
Finally, once you have all these new landing pages up, you might be thinking “Now what? How, and when, are these pages going to rank?”
Generally, landing pages are a tad harder to rank than content. See, with content, quality plays a huge part. Write better, longer, and more informative content than your competition, and you’re going to eventually outrank them even if they have more links.
With landing pages, things aren’t as cut and dry. More often than not, you can’t just “create a better landing page.”
What determines rankings for landing page keywords are backlinks. If your competitors have 400 links on their landing pages, while yours has 40, chances are, you’re not going to outrank them.

Step #4 - Create SEO Blog Content

Now, let’s talk about the other side of the coin: content keywords, and how to create content that ranks.
As we mentioned before, these keywords aren’t direct-intent (the Googler isn’t SPECIFICALLY looking for your product), but they can still convert pretty well. For example, if you’re a digital marketing agency, you could rank on keywords like…

Lead generation techniques
SaaS marketing
SEO content

After all, anyone looking to learn about lead gen techniques might also be willing to pay you to do it for them.
On top of this, blog post keywords are way easier to rank for than your landing pages - you can beat competition simply by creating significantly better content without turning it into a backlink war.In order to create good SEO content, you need to do 2 things right:

Create a comprehensive content outline
Get the writing part right

Here’s how each of these work...

How to Create a Content Outline for SEO

A content outline is a document that has all the info on what type of information the article should contain Usually, this includes:

Which headers and subheaders you should use
What’s the optimal word count
What information, exactly, should each section of the article cover
If you’re not using Yoast or Rankmath, you can also mention the SEO optimization requirements (keyword density, # of outbound links, etc.)

Outlines are useful if you’re working with a writing team that isn’t 100% familiar with SEO, allowing them to write content that ranks without any SEO know-how.
At the same time, even if you’re the one doing the writing, an outline can help you get a top-down idea of what you should cover in the article.
So, how do you create an outline? Here’s a simplified step-by-step process…

Determine the target word count. Rule of thumb: aim for 1.5x - 2x whatever your competitor wrote. You can disregard this if your competition was super comprehensive with their content, and just go for the same length instead.
Create a similar header structure as your competition. Indicate for the writer which headers should be h2, which ones h3.
For each header, mention what it’s about. Pro tip - you can borrow ideas from the top 5 ranking articles.
For each header, explain what, exactly, should the writer mention (in simple words).
Finally, do some first-hand research on Reddit and Quora. What are the questions your target audience has around your topic? What else could you add to the article that would be super valuable for your customers?

How to Write Well

There’s a lot more to good content than giving an outline to a writer. Sure, they can hit all the right points, but if the writing itself is mediocre, no one’s going to stick around to read your article.
Here are some essential tips you should keep in mind for writing content (or managing a team of writers):

Write for your audience. Are you a B2B enterprise SaaS? Your blog posts should be more formal and professional. B2C, super-consumer product? Talk in a more casual, relaxed fashion. Sprinkle your content with pop culture references for bonus points!
Avoid fluff. Every single sentence should have some sort of value (conveying information, cracking a joke, etc.). Avoid beating around the bush, and be as straightforward as possible.
Keep your audience’s knowledge in mind. For example, if your audience is a bunch of rocket scientists, you don’t have to explain to them how 1+1=2.
Create a writer guideline (or just steal ours! -> edit: sorry had to remove link due to posting guidelines)
Use Grammarly and Hemingway. The first is like your personal pocket editor, and the latter helps make your content easier to read.
Hire the right writers. Chances are, you’re too busy to write your own content. We usually recommend using ProBlogger or Cult of Copy Job Board (Facebook Group) to source top writing talent.

Step #5 - Start Link-Building Operations

Links are essential if you want your content or web pages to rank.
If you’re in a competitive niche, links are going to be the final deciding factor on what ranks and what doesn’t.
In the VPN niche, for example, everyone has good content. That’s just the baseline. The real competition is in the backlinks.
To better illustrate this example, if you Google “best VPN,” you’ll see that all top-ranking content pieces are almost the same thing. They’re all:

Well-written
Long-form
Easy to navigate
Well-formatted (to enhance UX)

So, the determining factor is links. If you check all the top-ranking articles with the Moz Toolbar Extension, you’ll see that on average, each page has a minimum of 300 links (and some over 100,000!).
Meaning, to compete, you’ll really need to double-down on your link-building effort.
In fact, in the most competitive SEO niches, it’s not uncommon to spend $20,000 per month on link-building efforts alone.

Pro Tip
Got scared by the high $$$ some companies spend on link-building? Well, worry not!
Only the most ever-green niches are so competitive. Think, VPN, make money online, health and fitness, dating, CBD, gambling, etc. So you know, the usual culprits.
For most other niches, you can even rank with minimal links, as long as you have top-tier SEO content.

Now, let’s ask the million-dollar question: “how do you do link-building?”

4 Evergreen Link Building Strategies for Any Website

There are a TON of different link building strategies on the web. Broken link building, scholarship link building, stealing competitor links, and so on and so on and so on.
We’re not going to list every single link building strategy out there (mainly because Backlinko already did that in their link building guide).
What we are going to do, though, is list out some of our favorite strategies, and link you to resources where you can learn more:

Broken link building. You find dead pages with a lot of backlinks, reach out to websites that linked to them, and pitch them something like “hey, you linked to this article, but it’s dead. We thought you’d want to fix that. You can use our recent article if you think it’s cool enough.”
Guest posting. Probably the most popular link building strategy. Find blogs that accept guest posts, and send them a pitch! They usually let you include 1-2 do-follow links back to your website.
“Linkable asset” link building. A linkable asset is a resource that is so AWESOME that you just can’t help but link to. Think, infographics, online calculators, first-hand studies or research, stuff like that. The tl;dr here is, you create an awesome resource, and promote the hell out of it on the web.
Skyscraper technique. The skyscraper technique is a term coined by Backlinko. The gist of it is, you find link-worthy content on the web, create something even better, and reach out to the right people.

Most of these strategies work, and you can find a ton of resources on the web if you want to learn more.
However, if you’re looking for something a bit different, oh boy we have a treat for you! We’re going to teach you a link-building strategy that got us around:

10,000+ traffic within a week
15+ leads
50+ links

...And so much more, all through a single blog post.

Link-Building Case Study: SaaS Marketing

“So, what’s this ancient link-building tactic?”
I hear you asking. It must be something super secretive and esoteric, right?
Secrets learned straight from the link-building monks at an ancient SEO temple…
“Right?”
Well, not quite.
The tactic isn’t something too unusual - it’s pretty famous on the web. This tactic comes in 2 steps:

Figure out where your target audience hangs out (create a list of the channels)
Research the type of content your audience loves
Create EPIC content based on that research (give TONS of value)
Promote the HELL out of it in the channels from step 1

Nothing too new, right?
Well, you’d be surprised how many people don’t use it.
Now, before you start throwing stones at us for overhyping something so simple, let’s dive into the case study:
How we PR’d the hell out of our guide to SaaS marketing (can't add a link, but it's on our blog and it's 14k words long), and got 10k+ traffic as a result.
A few months back when we launched our blog, we were deciding on what our initial content should be about.
Since we specialize in helping SaaS companies acquire new users, we decided to create a mega-authority guide to SaaS marketing (AND try to get it to rank for its respective keyword).
We went through the top-ranking content pieces, and saw that none of them was anything too impressive.
Most of them were about general startup marketing strategies - how to validate your MVP, find a product-market fit, etc.
Pretty “meh,” if you ask us. We believe that the #1 thing founders are looking for when Googling “saas marketing” are practical channels and tactics you can use to acquire new users.
So, it all started off with an idea: create a listicle of the top SaaS marketing tactics out there:

How to create good content to drive users
Promote your content
Rank on Google
Create viral infographics
Create a micro-site

...and we ended up overdoing it, covering 41+ different tactics and case studies and hitting around 14k+ words.
On one hand, oops! On the other hand, we had some pretty epic content on our hands. We even added the Smart Content Filter to make the article much easier to navigate.
Once the article was up, we ran it through some of our clients, friends, and acquaintances, and received some really good feedback.
So, now we knew it was worth promoting the hell out of it.
We came up with a huge list of all online channels that would appreciate this article:

entrepreneur and startups (hi guys!). The first ended up loving the post, netting us ~600 upboats and a platinum medal. The latter also ended up loving the post, but the mods decided to be assholes and remove it for being “self-promotional.” So, despite the community loving the content, it got axed by the mods. Sad. (Fun fact - this one time we tried to submit another content piece on startups with no company names, no links back to our website, or anything that can be deemed promotional. One of the mods removed it for mentioning a link to Ahrefs. Go figure!)
Hacker News. Tons of founders hang out on HN, so we thought they’d appreciate anything SaaS-related. This netted us around ~200+ upvotes and some awesome feedback (thanks HN!)
Submit on Growth Hackers, Indie Hackers, and all other online marketing communities. We got a bunch of love on Indie Hackers, the rest were quite inactive.
Reach out to all personal connects + clients and ask for a share
Run Facebook/Twitter ads. This didn’t particularly work out too well for us, so we dropped it after 1-2 weeks.
Run a Quuu promotion. If you haven’t heard of Quuu, it’s a platform that matches people who want their content to be shared, with people who want their social media profiles running on 100% auto-pilot. We also got “meh” results here - tons of shares, next to no likes or link clicks.
Promoted in SaaS and marketing Facebook groups. This had awesome results both in terms of traffic, as well as making new friends, AND getting new leads.
Promoted in entrepreneur Slack channels. This worked OK - didn’t net us traffic, but got us some new friends.
Emailed anyone we mentioned in the article and asked for a share. Since we mentioned too many high profile peeps and not enough non-celebs, this didn’t work out too well
Emailed influencers that we thought would like the article / give it a share. They didn’t. We were heart-broken.

And accordingly, created a checklist + distribution sheet with all the websites or emails of people we wanted to ping.
Overall, this netted us around 12,000 page views in total, 15+ leads, 6,000 traffic in just 2 promotion days.
As for SEO results, we got a bunch of links. (I would have added screenshots to all of these results, but don't think this subreddit allows it).
A lot of these are no-follow from Reddit, HackerNews, and other submission websites, but a lot of them are also pretty authentic.
The cool part about this link-building tactic is that people link to you without even asking. You create awesome content that helps people, and you get rewarded with links, shares, and traffic!
And as for the cherry on top, only 2 months after publishing the article, it’s ranking on position #28. We’re expecting it to get to page 1 within the new few months and top 3 within the year.

Step #6 - Interlink Your Pages

One of Google's ranking factors is how long your visitors stick around on your website.
So, you need to encourage users reading ONE article, to read, well, the rest of them (or at least browse around your website). This is done through interlinking.
The idea is that each of your web pages should be linked to and from every other relevant page on your site.
Say, an article on "how to make a resume" could link to (and be linked from) "how to include contact info on a resume," "how to write a cover letter," "what's the difference between a CV and a resume," and so on.
Proper interlinking alone can have a significant impact on your website rankings. NinjaOutreach, for example, managed to improve their organic traffic by 40% through better interlinking alone.
So, how do you do interlinking “right?”
First off, make it a requirement for your writers to link to the rest of your content. Add a clause to your writer guidelines that each article should have 10+ links to your other content pieces.
More often than not, they’ll manage to get 60-70% of interlinking opportunities. To get this to 100%, we usually do bi-annual interlinking runs. Here’s how that works.
Pick an article you want to interlink. Let’s say, for example, an article on 'business process management'.
The goal here is to find as many existing articles on your blog, where ‘business process management’ is mentioned so that we can add a link to the article.
Firstly, Google the keyword ‘business process management’ by doing a Google search on your domain. You can use the following query:
site:yourwebsite.com "keyword"
In our case, that’s:
site:example.com “business process management”
You’ll get a complete list of articles that mention the keyword “business process management.
Now, all you have to do is go through each of these, and make sure that the keyword is hyperlinked to the respective article!
You should also do this for all the synonyms of the keyword for this article. For example, “BPM” is an acronym for business process management, so you’d want to link this article there too.

Step #7 - Track & Improve Your Headline CTRs

Article CTRs play a huge role in determining what ranks or not.
Let’s say your article ranks #4 with a CTR of 15%. Google benchmarks this CTR with the average CTR for the position.
If the average CTR for position #4 is 12%, Google will assume that your article, with a CTR of 15% is of high quality, and will reward you with better rankings.
On the other hand, if the average CTR is 18%, Google will assume that your article isn’t as valuable as other ranking content pieces, and will lower your ranking.
So, it’s important to keep track of your Click Through Rates for all your articles, and when you see something that’s underperforming, you can test different headlines to see if they’ll improve CTR.
Now, you’re probably wondering, how do you figure out what’s the average CTR?
Unfortunately, each search result is different, and there's no one size fits all formula for average CTR.
Over the past few years, Google has been implementing a bunch of different types of search results - featured snippet, QAs, and a lot of other types of search results.
So, depending on how many of these clutter and the search results for your given keyword, you’ll get different average CTRs by position.
Rule of thumb, you can follow these values:

1st position -> ~31.73% CTR
2nd pos. -> ~24.71%
3rd pos. -> 18.66%
4th pos. -> 13.60%
5th -> 9.51%
6th -> 6.23%
7th -> 4.15%
8th -> 3.12%
9th -> 2.97%

Keep in mind these change a lot depending on your industry, PPC competitiveness, 0-click searches, etc...
Use a scraping tool like Screaming Frog to extract the following data from all your web pages:

Page title
Page URL
Old Headline

Delete all the pages that aren’t meant to rank on Google. Then, head over to Google Search Console and extract the following data for all the web pages:

CTR (28 Day Range)
Avg. Position

Add all of this data to a spreadsheet.
Now, check what your competition is doing and use that to come up with new headline ideas. Then, put them in the Title Ideas cell for the respective keyword.
For each keyword, come up with 4-5 different headlines, and implement the (seemingly) best title for each article.
Once you implement the change, insert the date on the Date Implemented column. This will help you keep track of progress.
Then, wait for around 3 - 4 weeks to see what kind of impact this change is going to have on your rankings and CTR.
If the results are not satisfactory, record the results in the respective cells, and implement another test for the following month. Make sure to update the Date Implemented column once again.

Step #8 - Keep Track of Rankings & Make Improvements On-The-Go

You’re never really “done” with SEO - you should always keep track of your rankings and see if there’s any room for improvement.
If you wait for an adequate time-frame after publishing a post (6 months to a year) and you’re still seeing next to no results, then it might be time to investigate.
Here’s what this usually looks like for us:

Audit the content
- Does your content have an adequate word count? Think, 1.5-2x your competitors.
- Is the content well-written?
- Do the images in your article add value? E.g. no stock or irrelevant images.
- Is the content optimized for SEO? Think, keyword density, links to external websites, etc.
Audit internal links
- Does the content link to an adequate number of your other articles or web pages?
- Is the article linked to from an adequate number of your web pages or blog posts? You can check this on Search Console => Links => Internal Links. Or, if you’re using Yoast or RankMath, you can check the # of internal links a post has in the WordPress Dashboard -> Posts.
Audit the backlinks
- Do you have as many backlinks as your competitors?
- Are your backlinks from the countries you want to rank in? If you have a bunch of links from India, but you want to rank in the US, you’d need to get more US links.
- Are your links high quality? More often than not, low DA / PA links are not that helpful.
- Did you disown low-quality or spam links?
Audit web page
- Does the web page load too slow? Think, 4+ seconds.
- Did you enable lazy loading for the images?
- Did you compress all images on the web page?

...And that's it.
Hope you guys had a good read and learned a thing or two :) HMU if you have any questions.
If you want to read the full version in a more reader-friendly format, you can check out our SEO process blog post here.

Xeno's ノート- 10 Drift Nations Peppered Across The Globe In 2045

A batch of information regarding Drift Nations in the Time of the Red, to be used as hook or locations in your games if you feel so inclined. The second part is already being worked on.

10 Drift Nations Peppered Across The Globe In 2045

The Centino Flotilla (Nomad Family) Area of operations: Northern and Southern Pacific Numbers and leadership: 40,000+ members, ~8,000 vessels (of various size), led by Allegria Chung
The Centino Flotilla is one of the few good things finding their roots in the Fourth Corporate War, some would say. After only months of bitter fighting between Arasaka and Militech, everyone had but forgotten the two corporations, OTEC and CINO, responsible for kicking-off the conflict. Equally, no one was surprised to hear that the two companies ended up bleeding each other to death during the Sea War, mostly in the Pacific.
As with many others, the destruction of Arasaka's headquarters in Night City by a nuclear detonation came as a wake up call. But the situation was already past the return point for both corporations and, as the commercial entities teetered over the edge, their maritime forces came to an uneasy stand-off in the Pacific. It took all the diplomatic skills of one of CINO's captain, Grant Chung, to reach over the divide and bring the two parties together. Bound by years of mutual bloodletting and tragedies, they decided to merge forces and survive together against all odds.
After pooling their last resources together, the two parties spent the next year building their flotilla and roaming the Pacific Ocean. Determined to never be a tool of corporate greed ever again, they brought their skills to help rebuilding many of the Pacific Island nations, as well as other Drift Nations such as AquaDelphi or the Great Pacific Garbage Patch.
Now led by Grant's daughter, Allegria, the flotilla is a force to be reckoned with, its vessels flying the teal wave emblem being seen all over the Pacific. Specialized in reconstruction of seashore communities and shepherding Ghost Fleets toward places where they could be recycled, they are one of the new binding links of the Pacific ocean nations.
AquaDelphi (Fallen Coporate Dream) Location: South-West of Hawaii Estimated population and leadership: 30,000+, organized in guilds with a Central Council of 5
AquaDelphi's project came out during the corporate golden years, sprouting off OTEC's board of director's collective hubris. Not unlike Night City, AquaDelphi was designed to serve as the new standard by which future cities would be built. And no one ever blamed the OTEC heads for lack of ambition.
Mobilizing all the resources from their conglomerate, the maritime corporation set their view on a territory close to Hawaii. Buying the ownership from the fallen US federal government was a piece of cake at the time and construction began quickly. Centered around the company headquarters, the city was to hold the largest library humankind ever put together, a massive seaport complete with dry docks, and utopian housing for the corporate families among other pharaoh-like projects. The whole place was powered by harnessing geothermal energy and run by the in-house AI, Pythia.
Unfortunately, as Fate is wont to, AquaDelphi was still under construction when the Fourth Corporate War came knocking. The green spaces of the housing district and the ancient white stones of the library were the first to go when the bombings started, then it was the turn of OTEC headquarters. As long as the monstrous steel towers stood upright, most of the population tried to keep the dream alive despite Pythia's more and more frequent erratic outbursts; but it was only delaying the inevitable exodus toward Hawaii.
Nowadays, AquaDelphi is slowly being rebuilt, thanks mostly to her massive sea port becoming one of the major places for ship breaking. Refugees gradually return to a place the Kress administration would not touch with a ten foot pole and dream of renaissance, but many are wary of the corporate nightmares lying in wait, among which Pythia...
New R'lyeh (Reckoners Cthuluny) Location: South Pacific Estimated Population and Leadership: 6,000+ under the leadership of the Dunwich Congregation
A decade ago, nobody had heard of the Dunwich Congregation. Only specialist were aware of this reckoner cult, led by austere people in outmoded black suits. Anyone would have told you that their idea of a cosmic entity with far too many tentacles and consonants in its name was never going to appeal to the masses. But the community endured, centered around their faith in Lovecraft's writings.
The news then dropped one day, six years ago: the congregation had purchased a rotten weather outpost in the empty corner of Southern Pacific. Reports of a growing shanty town came back, brought by passing ships and still no one expected them to survive once again. But they did, sending more missionaries across the world, armed with the Cthulu Mythologies; and their numbers grow steadily if slowly. Their declared goal in establishing New R'lyeh is to find old R'lyeh, a sunken city supposedly holding either a sleeping Cthulu or a way to connect with them. No one will speak openly about life in New R'lyeh but rumors of cultural segregation, weird rites and human sacrifices are legion. Whatever the truth, they are there to stay and never relent.
Their deep sea explorations and general presence are not to the taste of the European Space Agency (ESA), whose Deepdown outposts have been established there for decades in order to retrieve low-orbit material brought back to Earth in the area. The assaults led by ESA's underwater elite troops, the Nemos, stay fruitless as the cultists proved to hard to remove from the area. With number swelling steadily every year, New R'lyeh keeps growing weirder and is not going anywhere.
Cape Horn Wreckers (Scavvers Union) Location: Cape Horn area Numbers and Leadership: Up to 500 members. Leadership unknown.
Many places still struggle with the aftermath of the last Corporate War. Take Cape Horn, for example. The southernmost end of South America was for centuries the standard against which sailors measured their abilities and, more recently, a strategical passage to control for commercial and military purposes. Needless to say the place saw bitter fighting during the Sea War.
Which is why everybody started clapping when Argentinians and Chileans publicly decided to put their differences aside and find ways to clear up Cape Horn for maritime shipping once peace returned. Weary of corporate task forces, they decided to hire a multitude of small operators with designated areas to work on, in exchange for advantageous prices buying back salvaged material, as well as a share of any reclaimed equipment. Little did they know this would help turn their myriad of contractors in the now infamous Cape Horn Wreckers.
After only a couple of years, the small contractor crews started to work as a cooperative, granting them better negotiating power when selling back salvaged materials; while limited oversight allowed them to keep for themselves smaller ships and various pieces of armament at they saw fit. When the shipwrecks became too scarce and maritime shipping sputtered anew, the Wreckers naturally started using scramblers to lure passing vessels aground and pillage them.
By the time Chile and Argentina decided to intervene, it was too late. The Wreckers could stand on their own against national armies and navies. The international community obligingly looked aside for years but recent incursions in the Drake Passage forced foreign powers to start face the problem more directly. As a start, a series of bounties were set for anyone able to help identify and capture the Wreckers' leaders ...
North Atlantic Trade Hub (High Seas Trade Post) Location: Midway between the Azores and Ireland Population and leadership: 127,520 under joint Corporate-European Council oversight.
It took decades in the making for this trade platform to come out of the waves two years ago in the middle of Northern Atlantic. Decades of negotiations between Kaerms, the European maritime shipping titan, and European Council representatives during which American and Asian competitors took the lead. The North Atlantic Trade Hub is supposed to the European answer to this situation. Fearing Europe loss of speed in the maritime shipping and shipbuilding areas, N.A.T.H (as most familiarly call it) was conceived with the dual purpose in mind.
NATH is in reality an atoll of starfish-shaped platforms working in close relationship. On one side you will find the state of the art Noatun shipyards, pumping out small or medium trade vessels at an increasing rhythm and with a focus set on affordability and durability, the "sea mules" of the reborn sea trade. Paired with this, you will find a constellation of piers and decentralized trading centers, hosting a wide variety of small corporation and independent traders.
To keep their edge sharp, the European Union agreed to let the platform become a de facto city state with a policy of "high wages - low taxes" for five years granted to any worker, engineer or researcher choosing to migrate there; under the condition that they move to Europe and naturalize at the end of their contract.
As for now, the NATH managed its primary objective of becoming Europe's gateway for Northern Atlantic trade. The sea mules sell decently enough but are yet to threaten the Asian shipyards, the real mastodons of the industry. In the meantime, slack standards benefited many of the grey economy operators: if you need European gear, for cheap, then head on over before time's up and the forces of regulations start to crack down!
The Nansen Nation (Stateless Society) Area of Operations: Mediterranean Sea Estimated numbers and Leadership: ~200,000 citizens; 60,000+ vessels; led by the council of 500
Saying the Mediterranean sea has a millennia-long history of serving as the interface for human commerce and migrations comes to no surprise for anyone. If commerce was said to tighten the bonds across the sea, migrations became an increasingly divisive subject for trans-Mediterranean summits during the 20^th century. Many ventured off the Mediterranean shore and tried to immigrate to Europe, often risking their lives in the process; while "Fortress Europe" focused inwardly on its own success and only offered token help to the migrants if they returned home.
The situation became a nightmare during the Middle-East meltdown of the late 90's. Hundreds of thousands of humans ended up stranded at sea, roaming the Mediterranean as ghosts, stuck between war-torn countries on one side and a paradise out of reach on the other. And Europe kept letting only a few in, openly picking and competing over whichever individuals they thought could benefit their countries the most.
By the time African states managed to open their door more widely and benefit from the influx of population, many refugees then refused to return to land. Living for many years at seas, they had learned to make a living off of the waters and to navigate the inland sea like no other nation; turning them into peerless transporters and smugglers with a central role in the Mediterranean.
After electing a council of 500 hundred captains, the multi-cultural community chose their name from the Nansen passport delivered to stateless individuals a century before that. Their counters can be found in any major port of the inland sea, under the purple Phoenician letter N, offering their services to anyone looking to move someone or something discreetly over the sea. Europeans pay double, it goes without saying.
Safaniya-Zakum (Oil Extraction Complex) Location: Persian Gulf Estimated Population and Leadership: 80,000+ inhabitants and workers led by local royals
"A technological prowess" is what the Safaniya-Zakum complex is often described as. Both proponents and opponents of the project do tip their hat to its execution. Using a blend of time-proven and cutting edge technologies, a network of oil rigs, fishing piers, gas ducts and housing blocks is now stretching out above the waves of the Persian Gulf, all the way from Kuwait to the Hormuz Strait.
Proponents of the Saf-Za complex call it "the phoenix chant of a reborn Middle-East". Many put forward the accent set on sustainability and multi-cultural society, overcoming the ancient divisions. Not only the complex's only operator, a state-run company, manages to extract oil and gas from the sea bed again, but the ancient traditions of fishing and pearl culture are brought back. Considering the desolated lands of Iran and United Arab Emirates on both coasts, it is hard not to perceive the Saf-Za network as a cry of defiance against defeatism and a sense of doom.
Opponents call it "the swan song of a dying industry", preferring to point at the predominance of CHOOH² and deploring the refusal to let go of antiquated technologies. Others underline the complex's authoritarian regime and omnipresent police. Any visitors hoping to set a foot in will have to provide a full genetic profile and suffice to say that anyone even remotely affiliated to PetroChem or SovOil will never have a chance to peek inside.
With the extremely high level of difficulty regarding the obtaining of any information from inside the complex, experts are left wondering if the Safaniya-Zakum structure will hold long enough between intern fracture lines and outside pressure; long enough to recreate the major center of trade between India and the Eastern coast of Africa the region once was.
Deep Level Recovery HQ (Artificial Corporate Island) Location: Bay of Bengal Estimated Population and Leadership: ~7,000 employees led by D.L.R CEO and Face Kanchan Bonse
When the first Deepdown bubbles experimentation appeared decades ago, nobody expected any one else than military actors or some of the largest mega-corporations of the time to take the industry's lead toward expansion into civilian markets. But during the late 2020's, such actors had their compass set on rebuilding their power and returning to pre-war balance. Which suited someone who had been swimming under the radar for a bit.
Kanchan Bonse grew up following her corporate executive mother along a wide variety of postings. She emerged from her childhood with two passions: wreck diving and corporate power play. In the following years, she worked along the Indian coastlines on maritime salvage projects or post-disaster rescue operations. During those formative years, she lost nothing of her passions but gained a thick address book filled with talented if disgruntled, under-payed workers and engineers. Deep Level Recovery had all the ingredients to come to existence.
After building the core of her future corporation using her personal fortune; Bonse focused on developing proprietary designs for underwater habitats and workshops, allowing her technicians too work longer underwater. Spending many years experimenting and enhancing their techniques during humanitarian crises in South-East Asia, DLR took no side during the Fourth Corporate War but only gained power in the aftermath by landing many lucrative contracts all over the world.
Decades later, their glass bubble headquarters sit on waters granted by the Indian government as a thankful gesture. Visitors can admire there both the company's humanitarian projects and Deepdown habitat designs destined to the richest fringe of the planet. It is said that Kanchan Bonse only dives for pleasure these days but seems to be keeping tabs on elite divers across the world.
Far Yue City (Modular Floating City State) Location: South China Sea Estimated population and Leadership: 750,000 to 1,000,000 with a Central Representative Council
The fate of Hong Kong is one of the many tragedies of our times. After years of inner fighting and outside influence, the vibrant city was trying to recover when the Fourth Corporate War hit the world. A tragedy that climaxed with a biochemical attack for Hong Kong, closing that chapter on an abrupt end and leaving the rest of the wold with nothing but the Ghost World for memories. But that was without taking in account those who had to run prior to the events...
Since 2027 it has been noted that many members of the diaspora converged towards the Spratly islands to reunite with refugees from the Fragrant Harbour. Many former cargo vessels were bought as well as the maximum amount of TEU's they could get their hands on. In a matter of years a medium size fleet assembled with its inhabitants carrying their whole lives and families aboard, amidst a tangle of TEU's whose assembly became reminiscent of Kowloon's Walled City.
Early on, the ensemble stuck together giving life to a vivid culture of community and ingenuity. Workshops found new ways of extracting the most out of their minimal space and reduced resources. Personal networks connected and shared outside connections. The place became known as Far Yue City. By that time it was already able to travel as a group, approaching the coast of neighbouring countries, engaging in trade and knowledge sharing in exchange for protection.
Nowadays Far Yue city is able to criss-cross the whole South China sea as a whole, but more often fragmented; bringing city-sized dense assemblages of shops, schools, apartments, workshops and other gambling halls to various neighboring countries despite some local grumblings. For there is no better place in the region to obtain rare information, enjoy Dim Sum, place a bet, get a light-tattoo or learn hacking techniques than one of those floating districts sporting the white orchid emblem.
Ivory Sails (Free Navy) Area of operation: Worldwide Estimated numbers and Leadership: ~20,000 troops, ~2,000 boats, led by Ian Sharpgrove
The history of the Ivory sails is a tale of danger, daring actions and glory. Or it is a litany of war crimes, greed and ruthlessness. It usually depends on which side of the conflict you were. The Ivory Sails came to the world during the harsh days of the Sea War. As Militech and Arasaka were trading blows on land, sea, in the air, and in the cyberspace; their allies and subsidiaries destroyed each other; creating opportunities for professional outfits. Some of them at sea.
In came Ian Sharpgrove, raising out of obscurity at the tail end of the conflict and bringing with him a highly-specialized crew tailored for special operations. There was no raid the Sharpgrove Unit would fear to undertake, no desperate rearguard action they would not fight, no mission dangerous enough for them. Eventually managing the dubious feat of selling their services to most of the actors on both sides of the conflict, Sharpgrove and his troops made a name for themselves and soon enough everyone was ready to pay them so they would not fight for the other side.
This "sense of realpolitik winds", as he puts it himself, was what permitted now admiral Sharpgrove and his faithful troops to emerge rich and powerful out of the conflict. But their reputation was forever stained with infamy. In a transparent laundering effort, the group was re-named Ivory Sails and oriented themselves toward "peacekeeping" and "police actions", with a sprinkling of highly-publicized humanitarian stunts to seduce the medias.
Nowadays the Ivory Sails can be found anywhere across the globe training coastguard navies, securing areas for corporate clients, escorting refugee convoys and other such actions. Each time extracting a true ransom in exchange for their presence. But Sharpgrove knows the new golden age of privateers is reaching its end and takes every opportunity to line his pockets, mercilessly resorting to piracy if needed, before someone finally "retires" him once and for all.

UK "Clean Energy"/ESG stocks that haven't exploded yet

I've been doing some research into a few UK listed companies, noted below.
Velocys LON: VLS - https://www.velocys.com/
Velocys aim is to work with aviation & aerospace to create sustainable fuels and help achieve net zero emissions.
Their process transforms waste into clean fuels using a process called the Fischer–Tropsch process, which converts carbon monoxide and hydrogen into liquid hydrocarbons
Basically domestic refuse and woody waste is received, sorted and prepared at their plant. The solid waste is then heated to a high temperature to break it down and convert it into synthesis gas (carbon monoxide & hydrogen), which is used to synthesise hydrocarbons using the Fischer -Tropsch technology. This is fundamentally different to incineration; instead of being burnt, the carbon is converted into fuel. This is much better use of household waste than incineration or landfill, plus this fuel would see a 70% reduction in greenhouse emissions compared to conventional jet fuel, and a 90% reduction in particulate matter from engine exhausts.
Notably, their sustainable biofuels require no aircraft engine modification or change of airport infrastructure.
Collaborating with British Airways and Shell, planning permission was successfully granted earlier this year for the Altato Immingham plant in Lincolnshire (https://www.altalto.com/immingham/), a project that will take over 500,000 tonnes of household and office waste each year, and convert them into over 60 millions litres of clean jet fuel. The plant aims to be operational in the mid 2020s. Velocys are leading this project, assembling and licensing all the technology components into an integrated design. They are also developing a plant in Mississippi that will create fuel for road transportation in the US, from paper and lumber industry waste. This plant is Pre-FEED (completion by end of Q1 '21), and federal permitting completed.
I found this extract very interesting applicable for their primary project, taken from the the UK Gov White Paper on our Net Zero future (https://www.gov.uk/government/publications/energy-white-paper-powering-our-net-zero-future). “Jet zero and green ships: By taking immediate steps to drive the uptake of sustainable aviation fuels, investments in R&D to develop zero-emission aircraft and developing the infrastructure of the future at our airports and seaports, we will make the UK the home of green ships and planes.“
Share Price: 8.10p
Market Cap: £87.05m
Previous Month Performance: +24.53%
I suspect this hasn't exploded yet, because of tie ins to aviation and subsequent lower demand. However if you believe aviation will make a comeback, and the future is green, then this could be a solid play over the next 12-18 months. I've already taken a 40,000 share position in this and will just sit on this. Perhaps Greta Thunberg may pass on the boat trip and fly to the USA next time.
SIMEC Atlantis Energy LON: SAE- https://simecatlantis.com/
SIMEC Atlantis aim to become the leading independent sustainable power generator in the UK. They are involved with the design, construction, installation, testing, operation and maintenance of power projects across the globe with more than 1,000 megawatts of power projects in various stages of development, aiming to have 250 megawatts operational by 2021.
Their core offering is tidal power generation from Atlantis, where they are recognised as world leaders in the sector, with operations and projects across the UK, Canada, India and China. The worlds largest tidal energy plant currently under construction in Scotland, entitled 'MeyGen', is an Atlantis project, phase 1A of this is already operational.
Compared with offshore wind, tidal hasn't been able to compete in recent years, which is probably why you don't hear too much about it, however the UK government has also proposed a restructuring of the CfDs pots in 2021, where they are looking to separate offshore wind and tidal into separate pots. In simple terms, tidal will have a greater chance of winning CfDs and therefore increased revenue support which will massively benefit the Atlantis MeyGen and other UK projects.
They also operate in the Waste-to-Energy space following their acquisition of the Uskmouth Power Plant, Newport, Wales. This formal coal powered station is in the process of being converted to use a waste-derived energy pellet as fuel and deliver 220 MW of power to the grid. This project will be a world first conversion of a coal fired power plant, and if successful will provide a blueprint for other conversions across the world. There is growing public concern about what happens to your household waste, to put it in perspective across a 20-year life of the project, the waste used to produce the pellets would will a volume equivalent to more than 46,000 Olympic sized swimming pools - waste that would otherwise end up in landfill.
They also have a Turbine and Engineering Services division that designs, supplies and maintains tidal turbines and subsea connection equipment.
Share Price: 19.01p
Market Cap: £93.98m
Previous Month Performance: -19.09%
I'm bullish on Tidal especially where the gov CfD proposals apply, plus unlike wind, the moon rarely takes time off so it's a fairly reliable source of power. Additionally if they're able to show commercial success at the Uskmouth Power Plant then the potential here for growth is incredible, with thousands of coal plants worldwide approaching their end of life and being phased out, conversion to a waste pellet fuel (as opposed to biomass like the Drax powerplant) would be the most sustainable way to both manage excess waste and also improve the environmental performance of a coal plant. I have taken a 10,000 share position in this.
Biome Technologies LON: BIOM - https://biometechnologiesplc.com/
Comprises of two operations, Biome Bioplastics and Stanelco RF Technologies.
Biome Bioplastics is a developer of highly-functional, naturally-based plastics. Bioplastics are designed so that the biodegrade or compost at the end of their useful life. They are made to be chemically identical to their oil-based counterparts, and can be directly substituted. The production process requires much less energy, and is overall a much more sustainable method of providing plastic in our day to day lives whilst also managing the end-of-life process. Growth here is driven by new product launches, and the trajectory of demand for bioplastics increasing with pressure for a low carbon economy and better management of plastic waste. End of 2019 saw this division report revenue of £3.4m compared to £1.9m in 2018. Quarterly revenues ending Sep 2020 were £1.6m, 48% ahead of the previous quarter and 131% ahead of the same period last year.
Stanelco RF Technologies designs, builds and services advanced radio frequency systems. Whilst historically a large part of their business, demand for products produced by this division has been reducing, and as such my focus is more on the aggressive growth on the bioplastics side becoming dominant.
Share Price: 185p
Market Cap: £6.87m
Previous Month Performance: +0.81%
My view is that plastic isn't going anywhere, and bioplastics sit in a rapidly expanding market to help mitigate the downsides associated with plastic use. A handful of big clients could easily multiply the sales for this company. I expect aggressive growth for bioplastics to continue, but since this is a nano-cap level and AIM being AIM, really it's a gamble, so I'm only going to put a small amount in this, circa £100 / approx 500 shares.
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I hope others find this useful. As always DYOR. Comment below if you want to add anything, I know these aren't all pure green plays, we do really need to move away from burning things for power and move to renewables and electric vehicles, however that isn't going to happen over night. The best way to kickstart and maximise value of this transition is to make use of the existing infrastructure in a more sustainable way and managing our waste in the process. If anyone has any other suggestions then let me know.

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Online Gambling and Betting Market Size, Share, Trend, Demand, Growth-Analysis, Industry-Segmentation By Types, Application, Expected Revenue US$ 107.2 Bn by 2026 - Reuters

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