Topley's Top 10

Valuations of AI Startups

August 04, 2025

2

1. Valuations of AI Startups

Sherwood

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2. A New Addition to Speculative Economy….56% Year Over Year Increase in Retail Investors Trading Futures

Barrons-During the second quarter, CME reported that more than 90,000 retail traders, a 56% year-over-year increase, traded futures for the first time. It was the fifth consecutive quarter of double-digit growth. This development suggests CME is creating a new class of customers, an incredible feat for any business but especially for an established exchange. Major bourses tend to rely on market volatility and well-established customers for growth.

Barrons

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3. S&P Tech Sector Short-Term Overbought for 56 Trading Days

Bespoke

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4. Capex at META Doubles in One-Year

Irrelevant Investor

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5. Spotify Increased Free Cash Flow 100X in 2 Years

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6. American Fast Food Managers Make More than European Developers

Michael A Arouet

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7. Older Workers Set to Grow by 95% This Decade

Jacoblund/Getty Images

The promise of midday golf games and spending three hours drinking one cup of coffee at a McDonald’s is not enough to keep older Americans retired. As of last year, workers over the age of 75 are the fastest-growing group in the workforce.

Baby boomers (anyone in the 61–79 age range) are either refusing to retire or, increasingly, reentering the workforce. In some cases, they need to, as the cost of living increases and the Social Security eligibility age creeps higher. Additionally, only about 24% of boomers have defined pension benefits, and only half of private sector workers have access to employer 401(k) plans.

But some, especially white-collar workers, are choosing to spend their golden years in an office:

  • Industries like nuclear energy are desperate for seasoned experts as the country starts to bring plants back online.

  • Less labor-intensive jobs mean older people can work longer with more flexible schedules. Doing a desk job for extra money might be more attractive if you’re doing it from a nice office with central air.

  • Older Americans are also becoming entrepreneurs: As of 2023, nearly a third of new founders are 45+, and the percentage of businesses founded by people 55–64 is rising.

Looking ahead…nearly 11 million older workers are employed right now, and that number is expected to jump by ~97% in the next decade, according to the Bureau of Labor Statistics.—MM

8. Ozempic and MAHA Hitting Snack Sales

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9. American People Trust in Mainstream Media Trust Closing in on Single Digits But Still Above Congress

Bloomberg

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10. Country #1 in Streaming

Abnormal Returns

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Disclosure

Indices that may be included herein are unmanaged indices and one cannot directly invest in an index. Index returns do not reflect the impact of any management fees, transaction costs or expenses. The index information included herein is for illustrative purposes only.


Material for market review represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results.
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