Daily Briefing: May 5

The stat, the quote, and the read you need to start your day right.

Stat

Your Memorial Day BBQ will most likely have less discussion about NFTs than your Thanksgiving dinner last year. According to the website NonFungible, token sales have plummeted 92% from their September peak and the number of operational wallets has fallen 88%, as of this week.

Quote

“Markets have not been co-operative given the macroeconomic backdrop, but we do not believe in excuses and so will not offer any.”

The popular hedge fund Tiger Global's flagship fund dropped 15.2 percent in April, and it has lost more than 40% on the year, according to the Financial Times. It shows how hard tech stocks have been hit lately: Tiger Global owns stakes in more billion-dollar private startups than any other investor firm.

Read

Kurt Vonnegut’s reply to high school students who asked for life advice. (Gabe Hudson)

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