Trump wins. Markets boom. I find something to agree with Adam Schwab about.

Fox Bites. Short, bite-sized news from the business, startup and finance worlds.

— Marty Andrews

🏢 Business bites

Mike Cannon-Brookes delivered his first earnings report as solo CEO of Atlassian this week. He smashed it. The share price is up over 20%. (AFR)

Warren Buffet managed the process of Berkshire Hathaway selling down some of its position in Apple. They bought into the business in 2016, which has returned about an 850% return since then. Not a bad effort Warren. (Capital Brief)

The ACCC gave the all clear to the merger between Sigma Healthcare and Chemist Warehouse this week. Stock in Sigma jumped 25% as a result. (Capital Brief)

NVIDIA has reclaimed the title of the world’s biggest company after surging again this week. Now worth a lazy USD$3.65 trillion.

🚀 Startup bites

I happened to learn about AHAY Society and their product Clutch Glue about 6 months ago. It looked excellent then, but way out of my area of expertise as a middle-aged man with poor fashion sense. Then I spotted it again when catching up on some Shark Tank episodes this week. Annabel Hay did an outstanding job and got a well deserved deal. Great stuff! (Smart Company)

The Startmate Summer’25 Accelerator is open for applications this week. As a First Believer alumni, I’ll be helping assess the applications to create a short list for review by the investments team. It’s a great program, so get in quick! (Startmate Accelerator)

I’ve caught up with James Allston a few times to chat about Orkestra, so was thrilled to see them raise $2.77m from the Australian Renewable Energy Agency (ARENA) in a $5.5m also backed by energy companies and the motoring clubs. (Startup Daily)

💰 Money bites

In case you’ve been hiding under a rock, Donald Trump won the US election this week. I’m not going to analyse the emotions of that (let’s have a beer if you want to chat about it), but I will note the significant business and finance impacts here. If you’re holding anything traded in the US, you probably had a very good week. Here’s some financial stats that correlated:

• S&P500 - up 4%

• Bitcoin - up 9%

• Dogecoin - 29%

• Ethereum - up 17%

• NVidia - up 10%

I commented a couple of weeks ago that the Tesla stock I bought in later 2023 had finally returned to the price I originally bought it at. The afterglow effect on Elon Musk after the election has the stock up another 20%.

🎧 No bites? Watch & listen instead

I listen to The Contrarians each week with Adam Schwab and Adir Shiffman. Adam in particular often has views that clash with my own, but I like getting alternate perspectives and trying not to live in an echo chamber. This week though, he made a far more succinct comment than I did last week on the Anthony Albanese saga with Qantas and I found myself absolutely agreeing with him. (The Contrarians)