Range

David asked Meta's AI what it knew about his Instagram algorithm. It said: startups, business… and raccoons. 🦝

So he asked it to change the algorithm, and it did.

No hack. The AI just went into Instagram's own settings and adjusted the topics for him, the same way you could on your phone. It simply did it for him.

That's the real shift with AI agents: give them the right tools and secure access to your apps, and they can handle the tasks you'd normally do yourself.

🎙️ Range co-founder & Chief AI Architect David Cusatis on Okay Computer with Dan Nathan

What would you want an AI agent to take off your plate first? 👇

We've reached a big milestone as one of the fastest growing wealth advisors in the country: Range has surpassed $1 billion in assets under management.

This is a huge checkpoint, but just the beginning of our journey as we scale to serve millions of households across the country.

A huge thanks to our members, our team of incredible Rangers, our custodial partner Altruist, and our Investors.

We have more exciting announcements coming soon... Stay tuned.

How much pain should a founder go through before they take someone else’s money?

That’s the question Fahad sits with in this clip. The hard years aren’t a rite of passage — they’re where a founder’s judgment gets built. Founders funded before they’ve been tested, in his view, are the ones who struggle to build something durable.

He points to how venture used to work: the capital arrived with real accountability attached, and the expectation was made plain. Whereas today is closer to “go have fun, let’s see what you can do.”

Should founders have to earn it first?

Six months of war. Crude near $95 and diesel just set a record.

Brent is trading around $95 — roughly 30% above prewar levels, but still 24% below April's $126 peak. For a market that braced for catastrophe, crude has held up. Reserve releases, alternative export routes, and unusually weak Chinese demand did their job.

The crisis moved downstream.

Crude is only raw material. It has to pass through a refinery to become gasoline, diesel, and jet fuel — and refineries have become targets. Middle East output fell 27% last quarter. Ukrainian drone strikes have pushed Russian fuel production to a 24-year low. Just 4 commodity vessels transited the Strait of Hormuz on Wednesday, against a 10-day average of about 13.

The result: wholesale diesel is near $195 a barrel. More than twice the price of crude — a gap that has never been wider.

And it doesn't stay at the pump. U.S. airfares were up 25% year over year in July. Freight carriers are passing fuel surcharges into the goods they move. Heating oil is the next question as winter comes.

The Fed can look through a one-off spike in energy prices. A fuel shock that starts feeding into broader inflation is harder to ignore.

There's a fee eating your portfolio that never shows up on a single statement.

Everyone checks their expense ratio. Almost nobody checks their tax drag — and over a lifetime, taxes can take a bigger bite out of your wealth than fees or a bad year in the market.

Every time you sell at a gain, collect a dividend, or earn interest, you may owe tax on it. How your portfolio is *set up* decides how much.

Three things planners actually look at:

→ Asset location — where your investments live, not just what you own. Things that throw off ordinary income (like corporate bonds) can belong in tax-deferred accounts; tax-efficient holdings (ETFs, munis, direct indexing) in taxable ones. Same portfolio, different tax bill.

→ Tax-loss harvesting — using a down investment to offset gains elsewhere and trim the overall bill, while staying invested.

→ Trade frequency — every impulse sale is a taxable event you volunteered for. Trade with intention, not reaction.

Your returns aren't fully in your control. Your tax efficiency is.

Because it's not what you earn that builds wealth — it's what you keep. Save this. 📌

Retire before you claim Social Security? You may have just walked into one of the lowest tax brackets of your life.

Say you stop working at 57. No salary, Social Security hasn't started, and RMDs don't begin until 73 or 75 depending on your birth year. Your taxable income sits near the floor — while your pre-tax IRA keeps growing.

That gap is the window. Moving money from a pre-tax IRA into a Roth in those years can be taxed at a rate you may never see again — and qualified withdrawals later are generally tax-free.

How planners actually run it:

→ Convert enough to fill a bracket, not to hit a round number
→ Pay the tax from cash or a taxable account, not the IRA — or you shrink the very thing you're growing
→ Start years before you retire; the best version is multi-year, not one big conversion

Early retirement isn't just a spending phase. It's a planning window.

Save this if you're within 10 years of retiring.

A brand-new Patek Philippe that lists for $71,600 is selling for $55K. 🫠

For most of the last decade, the money ran backwards. The steel sports models — the *simplest* watches Patek makes — traded at 3, 4, sometimes 5x retail. The Grand Complications, the ones that take a year to assemble, sat available.

The market wasn't pricing craft. It was pricing access.

That's what's correcting now: higher retail prices and demand shifting back have opened the first real buyer's market in high horology in almost a decade.

Difficulty and scarcity aren't the same thing. Only one of them has ever set a price.

Save this one 📌 — the rule travels way past watches.

Spider-Man: Brand New Day made $1.67 billion in its first twelve days. It cost $225M to make.

In those twelve days it took the biggest opening weekend in history ($360M, past Endgame), became the fastest film ever to $500M domestic — seven days — and posted the biggest 10-day domestic run ever. Twelve days in, already the 12th highest-grossing film ever made.

But here's the part worth knowing 👇

Sony owns Spider-Man on film. Under the 2019 deal that kept him in the MCU, Disney co-finances about a quarter of the movie for about a quarter of the profit — and Disney kept ALL the merchandising.

So Sony got the record-breaking weekend. Disney gets the toys, the costumes, and the lunchboxes for years after this leaves theaters.

The opening weekend is the number everyone prints. The licensing structure is where the money actually lives. 🕷️

Bob Iger just agreed to pay $12.5B for the Lakers. 14 months ago the same team sold for $10B.

Same roster. Same arena. $2.5B more.

So what changed? Not the team — the buyer pool did. Josh Kushner's whole thesis: as AI makes intelligence cheap, the things it can't make — live, human, unrepeatable — get scarce. And scarce is what gets repriced.

When the price moves that fast and the business doesn't, you're not watching a company get more valuable. You're watching people change their minds about what it is.

Overpay or genius bet? 🏀 Drop your take 👇

Make too much for a Roth IRA? You still have options.

The backdoor Roth sounds simple: put after-tax money in a traditional IRA, convert it to a Roth. Done.

But one rule quietly wrecks it — the pro-rata rule. If you already have pre-tax money in a traditional, SEP, or SIMPLE IRA, the IRS won't let you pick which dollars you convert. It looks at all of it, and part of your "tax-free" conversion gets taxed.

The fix most people miss: if your 401(k) accepts rollovers, move that pre-tax IRA money into it. That drops your IRA balance to zero for pro-rata purposes and clears the way for a clean backdoor Roth, year after year.

Over decades, that's the difference between compounding tax-free and getting taxed.

Matt Ragone, CFP® breaks it down. 👆