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Thoughts From Abbott’s Inbox July 7th, 2023

Thoughts from my inbox

July 7th, 2023

I’ve always said that the best thing about a long weekend is the short week that follows.  And in a short week, the inbox usually seems to be relatively empty.  As proof, my inbox shows only eight unread emails from this week, which is the same number I still have from last week.  Anyway, we’ll keep it short and sweet this week with basketball cards, U2, and LockBit ransomware. 

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Box Breaks

If you’ve read this newsletter before, you’ve probably seen a few pieces about baseball cards and sports memorabilia.  I collected a ton of cards as a kid, and still have them in the closet.   And now, sports cards are trending again, with the new excitement being around ‘box breaks’.  Investors can put money in on the hopes of getting a rare card, and all the packs in a certain box are opened on a live stream.  Anything for a buck?   

Lockbit

It’s not like ransomware is anything new or exciting, but it’s always interesting to see what companies are getting hit, what the effects are, and how the issue is being handled.   This week, we have an Apple chip supplier and a major shipping port in Japan, both hit by LockBit ransomware.  The Apple supplier was hit with a $70M ransom, after one of their suppliers was infected (more supply chain attacks).  Of course, both the producer and the supplier are claiming no important data was breached and that this really isn’t a big deal (we know how those claims usually turn out).   And while the Japanese port is back in business after being shut down for two days, I can only imagine the cost of Toyota’s central shipping hub being closed.

The Sphere

I’m a big U2 fan, and while it makes me sound REALLY old, I’ll admit to having seen every one of the band’s American tours, back to 1984.  Any more, I drag my wife Nancy with me (she’s now seen them in Cleveland, Chicago twice, Detroit, and D.C.), and she’s come to understand why I like being on the floor rather than in the seats.  So, when I mentioned I bought tickets to see the band in Las Vegas in December at a new venue, she sent me this piece about said building.  U2 is doing a two-month residency at The Sphere, and while I can’t stand the city, it looks like it might be a pretty interesting place to see a show.  

Mergers & Acquisitions

Travis and I are headed to San Diego next week for the summer AM&AA (Alliance of Mergers & Acquisitions Advisors) conference, where we’ll be one of the sponsors. While Travis has been invited to speak on a panel regarding the topic of AI and how it can help to accelerate the M&A process, our primary goal is to educate attendees on the importance of technology due diligence.  We hit this event in Dallas last summer, when they were in the midst of a 47 day stretch with temps over 100 degrees. Hopefully the ocean breeze will keep us a little cooler next week!

Hopefully I’ll have a little more good info for you next week.  That said, we’re travelling Wednesday morning and get to San Diego in time for the start of the event, which runs that afternoon and all day Thursday (and unfortunately, it’s MLB All-Star break time, so I won’t be able to catch a game at Petco Park).  Flight home first thing Friday morning.  So, we’ll see what I can come up with. 

Hope you have some big plans for the weekend!

Abbey

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