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In today’s Morning Mashup:

Read time: 3 minutes

⚡️GM Leverages Tesla's Power

GM is following Ford's footsteps, teaming up with Tesla to harness their extensive North American charging network.

What's the game plan?

• GM vehicles will tap into 12,000 Tesla fast chargers, bringing a whole new level of convenience to GM and Ford customers.

• By 2025, GM will be switching up its ports to mirror Tesla's, a leap from the current industry-standard CCS.

But Tesla isn't sitting still either. They've promised to open up 7,500 charging stations to non-Tesla EV drivers by the end of 2024.

A solid move that tackles one of the major concerns for potential EV buyers - access to reliable public charging. So it's a win-win all around.

🎮 GameStop's Stock Plunge: A Meme Dream's End?

If you've been following the roller coaster ride of GameStop's stock, today is another sharp turn. GameStop just hit a new low, experiencing its steepest drop in two years. Shares dropped by a staggering 23% after the company reported a $50.5 million loss for the first quarter of 2023, alongside a 10% year-over-year decline in sales. To add fuel to the fire, they announced the termination of their CEO, Matt Furlong.

Here's where it gets more interesting. GameStop didn't name a new CEO. Instead, they've assigned billionaire investor Ryan Cohen, the man at the helm of the 2021 stock surge, as the executive chairman. This move has left some folks scratching their heads, and even the analysts at Wedbush are raising their eyebrows.

Remember the frenzy back in January 2021?

That boost came largely from retail investors on the WallStreetBets Reddit board taking a stand against the big institutional investors.

Well, that glory has faded.

Despite the recent downturn, it's important to note that GameStop's stock is still roughly 20 times higher than before the meme rush. So, it's not all doom and gloom, but it's definitely a situation that warrants keeping a close eye on.

🌐 Web3 Revolution: The Future of Internet Democracy

You may have heard a buzz about the future of the internet and blockchain technology, and let me tell you - it's not just a buzz.

Recently, Ryan Wyatt, President of Polygon Labs, testified before the U.S. House of Representatives Energy and Commerce Committee’s Subcommittee. Coming on the heels of the SEC announcing lawsuits against crypto giants Binance and Coinbase, this hearing focused on the potential of Web3 and blockchain technology, and how they can empower us, the users.

Wyatt criticized the current "value extraction" model of the internet, where big tech companies profit from our data and services. He painted an exciting picture of the future - a decentralized and transparent Web3 where we control our data and decide when, how, and whether to share it. However, he pointed out a stumbling block - the current regulatory environment.

He proposed creating a well-regulated blockchain ecosystem in the U.S. to maintain our competitive edge. This move, according to Wyatt, would drive economic growth, create jobs, and better protect consumers through the transparency of blockchains.

To showcase Web3's potential, Wyatt provided real-world examples including blockchain-based loyalty programs, nonfungible tokens in the fashion industry, and the use of blockchain for supply chain management in the U.S. Air Force and the Department of Defense. This landmark hearing marked the first time lawmakers hosted a crypto hearing addressing non-financial use cases.

So, the takeaway?

Blockchain and Web3 are here to stay. They're paving the way for a future where we control our data, where technology is democratized, and where the U.S. continues to lead in innovation.

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🐦 Tweet of the day

You don’t lack resources, you lack focus.

That’s all for now!

If you have any interesting projects or ideas please reach out to us by responding to this email or by sending us a DM on Twitter: @DerikVasquez & @MorningMillionaire

As always, thank you for your time, and see you soon.