<!-- I have been thinking about Robinhood's tokenization of private company equity a lot, and I realize that it is a much bigger deal than I initially thought. Right now, Robinhood serves only retail investors and provides some banking services through partnerships but their main customer base is retail. Private company tokenization serves retail investors well, allowing them to get exposure to companies they wouldn't have been able to get exposure to. But it also expands Robinhood's customer base to include private companies that WANT to get tokenized. Of course, there are others like Coinbase who can offer the same tokenization services but Robinhood has a retail base that can't be compared.--> ### 📈 July 2025 (11.18% | 156.50% YTD) Not a lot of changes to my portfolio. I sold my Apple and rotated it into Tesla. Added some more Robinhood shares. I feel very comfortable holding a large Robinhood position and a small Tesla position long term. ##### Robinhood ($HOOD): 95% of Portfolio - I have Robinhood calls ($100 6/26 - currently worth $28) and Robinhood shares. My current plan is to trim 20% of my calls around $35, another 20% around $40, and possibly all of them around the $50 mark. - Recently, when Robinhood fell to $94, I sold some of my shares and bought more calls. This has increased the amount of risk I am taking and I don't recommend doing this. - I sell covered calls whenever Robinhood has a solid green day-mostly covered calls that expire **the next week**. The calls I sell are always above the $115 strike price. This has worked out well so far and all the calls I have sold have expired worthless. - Robinhood (the brokerage, not the stock) allows me to sell puts using margin as collateral without having to pay interest. Whenever Robinhood has a solid red day, I sell ITM puts, which have so far expired worthless. I do this **only because** I don't mind adding shares to my long term position. - As for my shares, I plan to trim my position if Robinhood hits $120 in the short term. At this point, I don't see Robinhood falling below 75% of my portfolio value. ##### Tesla ($TSLA): 5% of Portfolio - It appears that Elon is now focusing more on Tesla and his businesses. - Pace of Robotaxi expansion has exceeded my expectations. - I expect they will get rid of the passenger person by the end of this year. - I expect they will expand to ALL major US cities by the end of this year. - I expect Robotaxi to be available everywhere in the US by the end of next year. - Tesla is the only car company that can turn their unsold inventory into Robotaxis. This is a very big advantage. They can easily manufacture enough cars to cover the entire US. - I am also bullish on Optimus long term, but I would like more updates on Cybercabs and Robovans. - I buy some Tesla every time it falls below $300. I have no plans of selling my stock anytime soon, unless something very unexpected happens. >[!Tip] Do you really need a car? > I bought my first car last year. It is a 2009 second-hand Toyota Camry Hybrid. I got it for a really good price and the car is great. It hasn't failed me so far. > > **Do I enjoy driving? Yes.** > > **Would I rather not drive? Also, yes.** > > My biggest prediction for the future is that car ownership rates are going to plummet. Do you really need a car when you can, in 2 minutes, get a Robotaxi that will take you wherever you need to go for a good price? > > In the future, you will either own an autonomous vehicle or not own a vehicle. Personally, I would rather not pay for a car, gas, insurance, and repairs. >[!Note] Imagine having an extra hour every single day! > I spend at least 60 minutes every day driving. That's literally one extra hour every single day I could be doing anything else. ### 📈 June 2025 (65.19% | 119.94% YTD) ##### Robinhood ($HOOD): 95% of Portfolio I started investing in 2020 in India, and tried many investing apps created by banks and brokerages. All these apps had an interface that doesn’t hold a candle to what Robinhood has developed. Right now, Robinhood offers everything I need as an investor. I'm **all in** because I believe, down the line, it won’t just serve investors—it’ll become the go-to for anyone looking to do anything with their money anywhere in the world. >**Eventually, not using Robinhood will mean that you are losing money.** Robinhood is led by an incredible founder, and they ship something almost every few weeks. On June 30th, [Robinhood started offering tokenized stocks](https://newsroom.aboutrobinhood.com/robinhood-launches-stock-tokens-reveals-layer-2-blockchain-and-expands-crypto-suite-in-eu-and-us-with-perpetual-futures-and-staking/), which drastically improves their earning potential. Once tokenization ramps up, Robinhood lowers costs, increases volume, **and allows anyone to trade any equity in the world from anywhere in the world at any time**. I believe this will happen very, very fast with regulation being the main hurdle to cross. Also, Robinhood still hasn't been included in the S&P 500, which tends to shoot up a company's share price. To manage my heavy exposure, I sell OTM covered calls regularly (I probably shouldn't do this.) ##### Tesla ($TSLA): 4% of Portfolio 2 podcasts explain my thesis in Tesla, and both of these are by Dwarkesh. In his [interview with Gwern](https://www.youtube.com/watch?v=a42key59cZQ), Gwern remarks that he that he was wrong about 'some new discovery' being the catalyst for AGI, and that he believes compute was the real bottleneck all along. In his [podcast with Sholto Douglas and Trenton Bricken](https://www.youtube.com/watch?v=64lXQP6cs5M), they remark that the problems that **AI will solve are the problems that AI researchers are trying to solve**. So, the reason we don’t have AI tools which (let’s say) file taxes for us is because no one is really focusing on training AI to file taxes for us. They remark that this is why coding and math will be 'solved' by AI first, because AI is being trained to solve coding and math, and also that coding and math have feedback mechanisms that help train AI i.e., when an AI answers a coding or a math problem, a human can reliably tell AI whether its solution was right or wrong. Extrapolating this reasoning, the company that has been working on physical AI applications (self-driving cars and humanoid robots) for the longest, is Tesla. Combined with Tesla's ability to raise compute like no other company, I believe Tesla is positioned very well to capture these two markets. The reason why my Tesla position isn't higher is that Elon isn't focused on Tesla like before. Either way, I will probably increase my position size in the $280s, but until Elon shifts his focus to Tesla, it won't be more than 10% of my portfolio. ##### Apple ($AAPL): 1% of Portfolio Even though I feel Apple has lost direction, I keep coming back to one core truth: Apple is, above all, a design company. In [Joanna Stern's interview with Craig Federidhi and Greg Joswiak](https://www.youtube.com/watch?v=wCEkK1YzqBo), Craig pointed out that while other mobile companies may be pushing AI harder than Apple and rolling out more features, many of these features aren't useful enough yet and don't warrant a switch from Apple products. I agree with this statement. In fact, I don't think being first in the AI space matters that much and that Apple actually might benefit from a second mover. Apple already has the hardware game on lock. Sure, I have thought about swapping my iPhone for an Android, but after using a MacBook, I can never use a Windows laptop ever again. And I'm definitely not ditching my AirPods or Apple Watch anytime soon. Even without built-in AI features on my devices, apps like ChatGPT on my iPhone cover everything I need from AI right now. **Back to design:** When it comes to AI, the real challenge isn’t just building the most powerful model. It’s making it intuitive and genuinely useful for regular people. That’s where Apple’s design-first mindset makes a difference. The rumors around Apple [partnering with or acquiring Perplexity](https://www.bloomberg.com/news/articles/2025-06-20/apple-executives-have-held-internal-talks-about-buying-ai-startup-perplexity) are huge. Perplexity is already proving it can blend AI into everyday tools. It’s building an [AI browser](https://www.perplexity.ai/comet), after all. If Apple pulls this off, it could completely shift the narrative around AI and Apple. Other possible partnerships ([Anthropic and OpenAI](https://www.bloomberg.com/news/articles/2025-06-30/apple-weighs-replacing-siri-s-ai-llms-with-anthropic-claude-or-openai-chatgpt)) also make me bullish on Apple.