Salvatore Buscemi (@SMBuscemi) header
Salvatore Buscemi (@SMBuscemi) profile picture

https://teapawt.net/t.co/XgXjuNFVzX 3x Published Author | Impact Entrepreneur | Book Merchant NEW Book: "Investing Legacy: How the .001% Invest"

Joined January 2011
Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)Photo by Salvatore Buscemi (@SMBuscemi)
Salvatore Buscemi retweeted
Dinner with an exec/friend at a large national property management company tonight. This person oversees ~150k apartments; access to an insane amount of data. Current multifamily market in most of the country is worse than S&L, .com bust, or the GFC. Worst they’ve seen. Class A mostly fine, decent rent growth. However: - credit scores at class A have gone down meaningfully over the past 3 years. - more people are paying rent via credit card. - average bank account balance noticeably lower than even 2 years ago - class A tenants stretched thin, living beyond their means. 20k comes in, 20k goes out every month. - starting to see these renters move down a tier Class B: - simply too many apartments, we built too much new stuff. Ripple effect is enormous. - fewer renters tomorrow than today. Same store foot traffic noticeably down year over year. Some markets down 40-50% - considering dropping rents below $700 a month on some 1beds in major southern markets. Class C: - looking at degrading NOI. Rents aren’t growing for a long time, but expenses keep creeping up - more renters are one missed paycheck away from disaster than they can remember seeing in decades - tenants aren’t paying rent because they simply don’t have it - wage growth has not kept up Lenders: - some major investment funds, household names, haven’t paid their mortgages in 2-3 years. Banks won’t foreclose because “X is a big client.” Mexican standoff. - a roof leak gets ignored, becomes water damage, then mold, then a down building. Buildings are rapidly deteriorating as some owners choose cash preservation over funding losses. - number of pre-foreclosure and REO deals is the highest as a % of total units they can recall. - data providers know it’s bad, but they’re paid to sell optimism to owners/lenders. So every forecast is “it will probably get a little better next year maybe” and that gets regurgitated at investment committees all over. I asked “how do you think this ends?” “Not sure. My gut says slowly then suddenly, and things will get really bad. Been doing this 40 years, you can feel it in the air. But, there’s a chance it’s just a decade of tolerable pain. I’m praying for that.”
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Salvatore Buscemi retweeted
Went to the SoCal IMN multifamily conference earlier this week. This was the first time in a long time that speaking on the insurance panel felt like being one of the only people delivering good news. Every other panel from debt financing to underwriting/making numbers work to distressed opportunities & workout strategies were full of doom & gloom. What’s RETwit seeing lately?
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Salvatore Buscemi retweeted
You know who really deserves reparations in this country? The unvaccinated.
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Salvatore Buscemi retweeted
I know why everything sucks... ...and it's because everything is fake We are voting for fake candidates, who run on fake promises, inside a fake system that was never designed to fix anything. We are raising kids in fake schools that teach fake history, fake science, which quietly produce fake adults who can't think for themselves. Then they are getting fake college degrees that cost 4 years and six figures that teach fake education and they get fake jobs. We are eating fake food, with fake ingredients, funded by fake research. We are scrolling through fake lives, with fake relationships, who take fake, curated vacations to promote brands that make fake products. We are watching fake news, about fake crises, produced by fake journalists, for fake outrage. We are borrowing fake money that was printed from nothing, to fund a fake economy that would collapse in an afternoon if people stopped pretending it was real. We are buying fake organic food that's just a paid label, and drinking fake juice with two percent juice in it, and putting fake cheese on cheeseburgers that's just "cheese product" on fake burger meat. We are donating to fake nonprofits where the moeny never makes it to the people and then funding fake foreign aid that buys real weapons to prop up fake governments. We are going to fake therapy that teaches fake coping skills instead of telling you hard truths. We are buying fake furniture made of fake wood that's actually compressed sawdust and glue that looks like wood, ships in fourteen boxes with instructions written in a fake language that isn't quite any language, requires tools it doesn't include, takes 4 hours to build, wobbles on day 1, and is totally destroyed in 6 months. We are downloading fake "free" apps that charge a subscription after three days for AI features that don't work, hidden behind a paywall we didn't see, protected by a privacy policy we didn't read, buried inside Terms of Service written by lawyers specifically so we wouldn't read them, that we agreed to by tapping a button the size of a thumbnail, that gave a company we've never heard of the right to sell our data to companies we'll never hear of, to build a profile on us we'll never see, to influence decisions we'll never know were made. IT. IS. ALL. SO. FREAKING. FAKE. And we all yearn for what was once real. Don't you remember? Did you forget? There was a time with a simple handshake between men was a contract. When bread went stale because... well, that's what real bread does! When kids played outside all day until it was dark, and nobody tracked them. When a family could live off a single income. When music was made by people who LIVED something real and you could feel it. When schools was HARD... and that was the point! When doctors knew your name and your family, they even came to your house, When you bought something once... and it was yours forever. When the chair your grandmother bought once lasted 70 years and she passed it onto your dad. And now nothing is real, and that's why everything sucks.
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Salvatore Buscemi retweeted
We have a lot more liquidity coming to the Bay Area soon. Cursor's massive $60 billion sale will obviously mint new billionaires, but the real long-tail wealth creation will be hundreds of multimillionaires and many deca- and centimillionaires. A friend's ex-colleague went to Cursor at a $10B valuation and got $1.7M (stock + cash) per year over 3 years. That person is probably worth $20M today. In 3 years of joining the company. And 2 of the 3 major IPOs haven't hit the market yet. OpenAI and Anthropic IPOs will break Bay Area real estate.
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Salvatore Buscemi retweeted
.@elonmusk made Warren Buffett’s entire net worth in one day. Peter Thiel predicted why Buffett’s logic was flawed 13 years ago: “He’s become the richest man in America by avoiding technology.” “Would you rather invest in a spaceship company going to Mars or a Mars candy bar?” “And when people live on Mars, they’ll still be eating Mars candy bars. Spaceship companies will come and go, so you should only invest in candy bars.”
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Salvatore Buscemi retweeted
Lloyd Blankfein, former CEO of Goldman Sachs, broke down his entire personal trading setup: portfolio: 98% risky assets. 75-90% single stocks. mostly big tech hyperscalers plus "second tier" names slightly below blue chip. "i invest in risky assets. that's what's fun for me." "do you have a team? oh, just me." hardware: no computer. an iPad and a phone. information source: texting and calling people. "somebody will text me. i'll text them. then i'll get tired of tapping things out because of my fat fingers. so i just call people up." frequency: trades every single day. multiple times. "it's taking a lot of discipline not to look at my screen while i'm talking to you right now." "some people listen to music. to me, the market is like music. it's out there. it's going on." has he outperformed the market? "yes, i have for a while. it's because of where i focused, tech, energy, and financial services. i know a lot about financial services having been in financial services." the former CEO of Goldman Sachs. manages his own money. on an iPad. alone. focused on three sectors he actually knows. and beats the market. sometimes the edge isn't the model. it's 40 years of pattern recognition and a phone full of the right contacts.
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Salvatore Buscemi retweeted
BREAKING: SpaceX's IPO is set to mint 4,000 millionaires This includes some cafeteria workers, whose comp includes employee stock options
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Salvatore Buscemi retweeted
🚨 SpaceXAI S-1 drops TOMORROW > $2T valuation target > $75B raise > entire raise is primary issuance > goes straight into the balance sheet > Elon confirmed not selling shares > holds ~42% equity and ~79% voting control > got Goldman Sachs to lead IPO > they led Tesla’s IPO in 2010, +30,000% return > got banks to allocate 30% shares to retail first > $SPCX will start trading on 12th June > eligible to join Nasdaq-100 within 15 days > every QQQ fund becomes a forced buyer LET THAT SINK IN.
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Salvatore Buscemi retweeted
𝐀 𝐁𝐑𝐈𝐓𝐈𝐒𝐇 𝐍𝐄𝐖𝐒 𝐇𝐎𝐒𝐓 𝐉𝐔𝐒𝐓 𝐄𝐗𝐏𝐋𝐀𝐈𝐍𝐄𝐃 𝐓𝐑𝐔𝐌𝐏’𝐒 𝐒𝐓𝐑𝐀𝐓𝐄𝐆𝐘 𝐁𝐄𝐓𝐓𝐄𝐑 𝐓𝐇𝐀𝐍 𝐀𝐍𝐘𝐎𝐍𝐄 𝐈𝐍 𝐀𝐌𝐄𝐑𝐈𝐂𝐀𝐍 𝐌𝐄𝐃𝐈𝐀 — 𝐀𝐍𝐃 𝐇𝐄’𝐒 𝐓𝐄𝐑𝐑𝐈𝐅𝐈𝐄𝐃 𝐎𝐅 𝐖𝐇𝐀𝐓 𝐈𝐓 𝐌𝐄𝐀𝐍𝐒 𝐅𝐎𝐑 𝐄𝐔𝐑𝐎𝐏𝐄 GB News’ Alex Armstrong laid out the geopolitical map that American media refuses to draw: this war isn’t about toppling Iran. It’s about 𝐫𝐞𝐬𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐨𝐫𝐝𝐞𝐫 — and America is winning on every front. Start with oil. The Strait of Hormuz carries 𝟒𝟓% 𝐨𝐟 𝐂𝐡𝐢𝐧𝐚’𝐬 𝐨𝐢𝐥 𝐬𝐮𝐩𝐩𝐥𝐲. Trump effectively captured Venezuela’s oil supply in January. As Armstrong put it: “𝘓𝘰𝘰𝘬 𝘸𝘩𝘰’𝘴 𝘨𝘰𝘵 𝘵𝘩𝘦 𝘶𝘱𝘱𝘦𝘳 𝘩𝘢𝘯𝘥 𝘢𝘭𝘭 𝘰𝘧 𝘢 𝘴𝘶𝘥𝘥𝘦𝘯. 𝘈𝘮𝘦𝘳𝘪𝘤𝘢 𝘪𝘴 𝘯𝘰𝘸 𝘤𝘰𝘯𝘵𝘳𝘰𝘭𝘭𝘪𝘯𝘨 𝘵𝘩𝘦 𝘷𝘢𝘴𝘵 𝘴𝘸𝘢𝘵𝘩𝘦𝘴 𝘰𝘧 𝘰𝘪𝘭 𝘵𝘩𝘢𝘵 𝘊𝘩𝘪𝘯𝘢 𝘯𝘦𝘦𝘥𝘴.” China is in the middle of a tariff negotiation with Trump — and suddenly its entire energy supply depends on American goodwill. Then Europe. With Russian energy off the table and domestic energy hollowed out by the “𝘭𝘦𝘧𝘵𝘪𝘴𝘵 𝘰𝘣𝘴𝘦𝘴𝘴𝘪𝘰𝘯 𝘸𝘪𝘵𝘩 𝘯𝘦𝘵 𝘻𝘦𝘳𝘰,” Europe is becoming 𝐰𝐡𝐨𝐥𝐥𝐲 𝐝𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐭 𝐨𝐧 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐨𝐢𝐥 𝐚𝐧𝐝 𝐠𝐚𝐬. Armstrong: “𝘛𝘩𝘦𝘺 𝘸𝘪𝘭𝘭 𝘥𝘪𝘤𝘵𝘢𝘵𝘦 𝘵𝘦𝘳𝘮𝘴 𝘢𝘯𝘥 𝘶𝘴𝘦 𝘦𝘯𝘦𝘳𝘨𝘺 𝘢𝘴 𝘭𝘦𝘷𝘦𝘳𝘢𝘨𝘦, 𝘯𝘰𝘵 𝘫𝘶𝘴𝘵 𝘦𝘤𝘰𝘯𝘰𝘮𝘪𝘤𝘢𝘭𝘭𝘺, 𝘣𝘶𝘵 𝘨𝘦𝘰𝘱𝘰𝘭𝘪𝘵𝘪𝘤𝘢𝘭𝘭𝘺 𝘵𝘰𝘰.” Armstrong connected the dots to what the Pentagon calls 𝐆𝐫𝐞𝐚𝐭𝐞𝐫 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 — Greenland through the Panama Canal, the entire Western Hemisphere secured as a self-sufficient American economic and security zone. “𝘕𝘰 𝘮𝘰𝘳𝘦 𝘨𝘭𝘰𝘣𝘢𝘭 𝘱𝘰𝘭𝘪𝘤𝘪𝘯𝘨, 𝘯𝘰 𝘮𝘰𝘳𝘦 𝘦𝘯𝘥𝘭𝘦𝘴𝘴 𝘧𝘰𝘳𝘦𝘪𝘨𝘯 𝘤𝘰𝘮𝘮𝘪𝘵𝘮𝘦𝘯𝘵𝘴, 𝘫𝘶𝘴𝘵 𝘢 𝘧𝘰𝘳𝘵𝘪𝘧𝘪𝘦𝘥, 𝘳𝘦𝘴𝘰𝘶𝘳𝘤𝘦-𝘳𝘪𝘤𝘩 𝘱𝘰𝘸𝘦𝘳 𝘣𝘢𝘴𝘦 𝘵𝘩𝘢𝘵 𝘰𝘵𝘩𝘦𝘳𝘴 𝘩𝘢𝘷𝘦 𝘯𝘰 𝘤𝘩𝘰𝘪𝘤𝘦 𝘣𝘶𝘵 𝘵𝘰 𝘳𝘦𝘭𝘺 𝘰𝘯. 𝘛𝘩𝘢𝘵 𝘪𝘴 𝘵𝘩𝘦 𝘯𝘦𝘸 𝘈𝘮𝘦𝘳𝘪𝘤𝘢.” The most striking part was his warning for Britain: “𝘞𝘦 𝘩𝘢𝘷𝘦 𝘯𝘰 𝘦𝘯𝘦𝘳𝘨𝘺 𝘴𝘦𝘤𝘶𝘳𝘪𝘵𝘺. 𝘞𝘦 𝘪𝘮𝘱𝘰𝘳𝘵 𝘢𝘳𝘰𝘶𝘯𝘥 60% 𝘰𝘧 𝘰𝘶𝘳 𝘧𝘰𝘰𝘥. 𝘞𝘦 𝘩𝘢𝘷𝘦 𝘯𝘰 𝘮𝘢𝘫𝘰𝘳 𝘪𝘯𝘥𝘶𝘴𝘵𝘳𝘺. 𝘖𝘶𝘳 𝘮𝘪𝘭𝘪𝘵𝘢𝘳𝘺 𝘪𝘴 𝘥𝘦𝘤𝘪𝘮𝘢𝘵𝘦𝘥.” He described Britain heading toward 𝐚 𝐝𝐚𝐫𝐤 𝐚𝐠𝐞 𝐧𝐨𝐭 𝐬𝐞𝐞𝐧 𝐢𝐧 𝐨𝐯𝐞𝐫 𝟏,𝟎𝟎𝟎 𝐲𝐞𝐚𝐫𝐬 as America withdraws from its traditional role. When a foreign ally’s own news anchors are publicly acknowledging that Trump’s strategy is working — even as it leaves them behind — that tells you everything about who has the leverage. 𝐓𝐡𝐞 𝐫𝐞𝐬𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐰𝐨𝐫𝐥𝐝 𝐬𝐞𝐞𝐬 𝐰𝐡𝐚𝐭 𝐀𝐦𝐞𝐫𝐢𝐜𝐚𝐧 𝐦𝐞𝐝𝐢𝐚 𝐰𝐨𝐧’𝐭 𝐚𝐝𝐦𝐢𝐭: 𝐓𝐫𝐮𝐦𝐩 𝐢𝐬𝐧’𝐭 𝐬𝐭𝐚𝐫𝐭𝐢𝐧𝐠 𝐜𝐡𝐚𝐨𝐬. 𝐇𝐞’𝐬 𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐟𝐨𝐫𝐭𝐫𝐞𝐬𝐬.
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Salvatore Buscemi retweeted
Everyone is watching the oil. Nobody is watching the water. The UAE operates at 1,533% water stress. Saudi Arabia at 974%. Kuwait gets 90% of its drinking water from desalination plants. Oman 86%. Saudi Arabia 70%. There is no aquifer. There is no river. There is no rainfall to speak of. The entire Arabian Peninsula drinks water that is manufactured, using electricity, from the sea. One drone. One plant. Millions without water. That is not speculation. That is what a 2009 US diplomatic cable concluded about Riyadh specifically: destroy the right desalination infrastructure and you could force the evacuation of the Saudi capital within a week. That cable is 17 years old. The dependency has only deepened since. Iran has not hit a desalination plant yet. That restraint is a choice. It is also a card. Here is the strategic geometry Iran is living inside right now. Its navy is gone. Its air force is degraded. Its supreme leader is dead. Its missile rate has dropped 70% as launchers get destroyed. Every conventional military option is being systematically closed. What remains is asymmetric warfare against infrastructure that the entire Gulf coalition cannot function without. You do not need to win an air war to win an asymmetric war. You need to hit the thing your enemy cannot replace on any timeline that matters. Oil can be rerouted. Gas can be replaced. Water in the Arabian desert cannot be improvised. The GCC has built redundancies since this vulnerability was identified. But redundancies are not immunity. And Iran knows exactly where every plant sits. The oil war is being priced. The water war has not even entered the model yet. If it does, this conflict has a second act that makes the first one look contained. open.substack.com/pub/shanak…
BREAKING: Two Iranian jets flew at 80 feet above the Persian Gulf to avoid radar. They were two minutes from Al-Udeid Air Base when Qatar shot them down. Al-Udeid is the largest US air base in the Middle East. 10,000 American personnel. The command hub for the entire Operation Epic Fury campaign. Iran sent two Soviet-era Su-24 bombers, flying so low they were skimming the water, directly at it. A Qatari F-15 intercepted them. Downed both. Qatar’s first aerial combat engagement in its history. Sit with the sequence of events on March 2 alone. Qatar’s Emiri Air Force intercepts 7 Iranian ballistic missiles, 5 drones, and shoots down 2 manned Iranian aircraft in a single day. Then QatarEnergy shuts down all LNG production and declares Force Majeure on every contract. This is the same Qatar that spent the last decade positioning itself as the Gulf’s indispensable neutral, the country that hosts both US forces and Hamas political leadership, the mediator everyone calls when no one else will pick up the phone. Qatar’s neutrality died on March 2. And here is the strategic consequence nobody has fully priced. The Su-24 flew at 80 feet because that is below the radar floor. Iran developed that tactic specifically because it knows Gulf air defense systems have a low-altitude blind spot. The planes were not on a reconnaissance mission. You do not arm Su-24s, fly at 80 feet across open water, and aim directly at the world’s most important US air base on a reconnaissance mission two minutes from your target. This was not a probe. This was the attempt. Qatar stopped it. But Iran now knows exactly where the radar gap is, what the intercept time looks like, and how Qatari F-15s respond under pressure. The next attempt will account for all of that. open.substack.com/pub/shanak…
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Salvatore Buscemi retweeted
Elon Musk @elonmusk just explained how they plan to restore sight by bypassing the eyes entirely and "writing" directly to the visual cortex. The wild part? This isn't just about curing blindness. The long term goal is multispectral vision meaning you could eventually see in infrared, ultraviolet, or even radar. Elon you are amazing. Thank you for what you do for humanity.
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Alex Karp just said what every other tech CEO is terrified to admit: the world doesn’t split three ways. It splits two. And second place is extinction. Europe watches. Everyone else becomes a customer. The fight is binary. America or China. One owns the future’s operating system. The other lives inside it, powerless. Karp: “There are only two cultures that are going to win in the next year. It’s going to be us or China.” Technology isn’t neutral. The builder’s values get hardcoded into everything. If we don’t own the chips, the models, the infrastructure, the beliefs embedded in the next century won’t be freedom or rights. They’ll be surveillance and control. Karp: “If we are not the ones controlling the violence, we will not be dictating the rule of law.” AI is a weapon system. Not potentially. Inherently. Restraint doesn’t buy peace. It guarantees defeat. If the Constitution matters, if speech matters, if any of it matters, America has to win technologically. Power doesn’t negotiate values. It imposes them. Thinking caution earns respect is suicidal delusion. The enemy isn’t slowing down for ethics debates. They’re building at war speed while we workshop guardrails. Karp: “No one is coming to defend you. You have to defend yourself.” No cavalry. No referees. No shared humanity saving the day. Just two civilizations in a cage match for permanent control. Outbuild them or surrender everything. Not eventually. Now. Because losing this race doesn’t mean second place. It means your children grow up under a system that doesn’t even pretend you have rights.
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The smallest teams will build the biggest empires. Host Jenna Bayuk invites guest @SMBuscemi, Co-Founder and Managing Partner at Brahmin Partners. 🎧 Listen to the full episode here: youtu.be/HfFDpbMC8XU #GenZEntrepreneurs #AIStartups #FutureOfWork #MicroSaaS
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Repeat founders aren’t hiding behind spreadsheets. Host Jenna Bayuk invites guest @SMBuscemi, Co-Founder and Managing Partner at Brahmin Partners. 🎧 Listen to the full episode here: youtu.be/HfFDpbMC8XU #venturecapital #foundertraits #saleskills #startupsuccess
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Fundraising fails without respect for process. Host Jenna Bayuk invites guest @SMBuscemi, Co-Founder and Managing Partner at Brahmin Partners. 🎧 Listen to the full episode here: youtu.be/HfFDpbMC8XU #FounderAdvice #VentureCapital #InvestorRelations #StartupFunding
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Replying to @Cernovich
1/3 first time homebuyers receive financial help from parents and family This isn’t just about who worked harder and who didn’t It’s about who was born with access to captial and who was born in an era where credit was cheaper and easier to obtain
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Imagine your largest "asset" is a house you live in SOLELY because the US government manipulated the price. That's your whole success story, something you never earned LMFAO
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SpaceX is going to produce Starships like they're Aeroplanes With a $250 million Gigabay at Starbase, the company is accelerating Starship production. The 700,000-square-foot facility is designed to manufacture up to 1,000 rockets per year.
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Sal’s Rule #63: In real estate, when you bought and where you bought makes all the difference.
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