How American millionaires plan weddings.

Loans, lies, and panic.

Good morning. I didn’t send out a letter on Friday or yesterday because I was busy. I finished The Guest by Emma Cline, and The Eden Test by Adam Sternbergh. I also watched the Vanderpump Rules reunion. I also watched The Curious Case of Natalia Grace and Shiny Happy People. I also can’t stop reading about the missing submarine. This morning Andrew Ross Sorkin wrote, “The submersible’s disappearance is a reminder of the risks associated with the extreme tourism business — especially as space exploration companies like Virgin Galactic and Jeff Bezos’s Blue Origin take flight.”

Thank you, dad….

Can you tell I’m working on a horror project?

Anyway, I’m back.

• Aurora James, founder of the luxury shoe label Brother Vellies, launches a fund for Black founders. Black founders receive only 1% of all VC capital. The new Friends and Family Collective wants to change that. James has partnered with Alisa Williams, a partner at the private equity firm VMG Partners (who has invested in Drunk Elephant, Kind Bar, Kosas and Necessaire), to tap into an $850-million fund called Friends and Family Collective that will focus on founders of Black-owned businesses. James and Williams have already started investing $25 million in brands like Ghetto Gastro, Beauty Stat, Melanin Hair Care, Proudly, and Danessa Myricks.

• Apple hired Samuel Ross as their first Principal Design Consultant for Beats. Before this position, Ross worked for Kanye West and Virgil Abloh, and in 2014, Ross founded his luxury menswear label, A-COLD-WALL*.

• Cape Cod rentals are looking real empty this year. “There’s rosé waiting in the fridge,” said Jessica Halem, who, with her partner, bought a Wellfleet fixer-upper during the pandemic, and recently took to Twitter in search of renters. The Cape Cod & Islands Association of Realtors is reporting an occupancy rate that’s 20% lower this season than last, and everyone’s wondering what’s going on. Those $45 lobster rolls are just not it for me……