🚀 Judge strikes down Executive Order as unconstitutional

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The key to a $1.3T opportunity

A new trend in real estate is making the most expensive properties obtainable. It’s called co-ownership, and it’s revolutionizing the $1.3T vacation home market.

The company leading the trend? Pacaso. Created by the founder of Zillow, Pacaso turns underutilized luxury properties into fully-managed assets and makes them accessible to the broadest possible market.

The result? More than $1b in transactions, 2,000+ happy homeowners, and over $110m in gross profits for Pacaso.

With rapid international growth and 41% gross profit growth last year, Pacaso is ready for what’s next. They even recently reserved the Nasdaq ticker PCSO.

But the real opportunity is now, before public markets. Until 5/29, you can join leading investors like SoftBank and Maveron for just $2.80/share.

Invest in Pacaso today.

_{This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.}

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. In a blistering 73-page opinion, U.S. District Judge Richard Leon struck down President Trump’s executive order targeting the law firm WilmerHale, calling it unconstitutional and a betrayal of the Founding Fathers’ vision of an independent legal system. The Bush appointee dismissed the administration’s defenses as “absurd,” lambasting the order’s attempt to punish WilmerHale for employing Robert Mueller and representing clients opposed to Trump. The order had barred the firm from federal contracts and government buildings, prompting WilmerHale to sue in March. Leon’s ruling pemanently blocks the order, reinforcing core protections for legal advocacy against executive overreach.

2. Okta shares sank 11% after the identity management company beat Q1 earnings and revenue expectations but chose to hold its full-year guidance steady due to ongoing macroeconomic uncertainty. CEO Todd McKinnon told CNBC that while the company saw no first-quarter impact, customer conversations have grown “more cautious,” prompting a “prudent” approach to forecasting. Revenue rose 12% year-over-year to \$688 million, and Okta swung to a $62 million profit from a $40 million loss the year before. Despite lifting its operating income guidance slightly, Okta maintained its annual revenue target, citing broader concerns like the effects of potential tariffs announced by President Trump.

3. President Donald Trump announced Tuesday that he intends to pardon reality TV stars Todd and Julie Chrisley. They are currently serving prison sentences for tax evasion and bank fraud. In a phone call with their daughter, Savannah Chrisley, which was later shared on social media by Trump aide Margo Martin, the president said he hoped to finalize the pardons “by tomorrow,” calling the situation “terrible” but promising her parents would soon be “free and clean.” The Chrisleys, known for their USA Network show Chrisley Knows Best, were convicted in 2022 of securing over $36 million in fraudulent loans and conspiring to defraud the IRS. Todd was sentenced to 12 years, and Julie to seven. Savannah has been publicly advocating for their release, including meetings at the White House and an appearance at the Republican National Convention, where she criticized the prosecution. The move is part of a broader pattern of high-profile and controversial pardons by Trump since his return to office, particularly for individuals convicted of white-collar crimes.

4. Headlines

   1. Movie theatre stocks soared after Memorial Day weekend saw its largest box office in history at $326M, nearly triple last year’s Memorial Day box office.

   2. Consumer confidence increased significantly due to an increase in trade deals entered into by the United States.

Are you looking to grow your business? Here is how I can help: 

📱Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

He’s already IPO’d once – this time’s different

Spencer Rascoff grew Zillow from seed to IPO. But everyday investors couldn’t join until then, missing early gains. So he did things differently with Pacaso. They’ve made $110M+ in gross profits disrupting a $1.3T market. And after reserving the Nasdaq ticker PCSO, you can join for $2.80/share until 5/29.

Invest today for $2.80/share.

_{This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.}

Onwards and Upwards,

Liam Gill