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Welcome to The Seattle Newsletter!

In today’s edition:

• Seahawks lose late lead, fall to Titans 16-15 in preseason game.

• Upcoming Seattle Mariners match

• A deep-dive into the life of Paul Allen

• And more…

Quote of the Week

“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice and most of all, love of what you are doing or learning to do.” 

–Pele

Sponsored

Investors have trusted this platform with +$1bn - here’s why

Through COVID, soaring inflation, and today’s crushing interest rates, a group of enterprising investors have collectively entrusted one billion dollars from their portfolios to Masterworks’ art investing platform.

Why? Because the contemporary art Masterworks offers—from legends like Picasso and Banksy—has demonstrated a low correlation to the stock market, inflation resistance, and exceptional appreciation potential. Not to mention Masterworks has completed 23 successful exits to date, distributing over $60+ million in net proceeds to investors in those offerings.

These investors didn’t need art expertise to diversify with blue-chip art, because Masterworks does all the heavy lifting, finding artists with appreciation potential (buying <3% of works offered) and then breaking an art offering into shares for you. If Masterworks sells a piece again for a profit, investors get a return. With 3 illustrative sales, Masterworks investors have realized net annualized returns of +17.6%, +17.8%, and +21.5%.

With 65,000+ investors, offerings can sell out quickly. Luckily, you can get priority access here.

Past performance is not indicative of future returns. Investment involves risk.

Disclosures:

The content is not intended to provide legal, tax, or investment advice.

No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation.

Contemporary art data based on repeat-sales index of historical Post-War & Contemporary Art market prices from 1995 to 2023, developed by Masterworks. There are significant limitations to comparative asset class data. Indices are unmanaged and a Masterworks investor cannot invest directly in an index. 

Net proceeds distributed back represents the total liquidation proceeds distributed back to investors, net of all fees, expenses and proceeds reinvested in Masterworks offerings, of all works Masterworks has exited to date.

See important Reg A disclosures at masterworks.com/cd.

Trivia

Here is your trivia question of the week. The answer will be shown in next week’s newsletter. Which do you think it is? No cheating!

The Seattle Public Library's Central Branch is known for its striking modern architectural design. Who were the lead architects?

A) Frank Gehry and Renzo Piano

B) Rem Koolhaas and Joshua Prince-Ramus

C) Norman Foster and Jean Nouvel

D) Santiago Calatrava and I.M. Pei

Answer to Week 36's Trivia:

The Seattle neighborhood famous for its statue of Vladimir Lenin, quirky art, and the annual Fremont Solstice Parade is B) Fremont.

News

💼 Business

Seattle software company Replenium sues Albertsons over trade secrets. (Link)

Much-anticipated upscale restaurant set to open in downtown Seattle. (Link)

🏒 Sports

Mariners shut out by Dodgers 3-0 as Gavin Stone strikes out 10. (Link)

Seahawks lose late lead, fall to Titans 16-15 in preseason game. (Link)

🏦 Finance

The debate over Seattle's minimum wage has once again pitted restaurants against labor advocates. (Link)

Upcoming Events

Here are some events that are happening in our city this week. There is a good mix between sports, entertainment, conferences, concerts, and more.

Sports

⚾ San Francisco Giants at Seattle Mariners
T-Mobile Park, Seattle
Fri, Aug 23rd - Sat, Aug 24th | (More info)

⚽ UC Irvine Anteaters at Washington Huskies Women's Soccer
Husky Soccer Stadium, Seattle
Sunday, Aug 25th | (More info)

Music & Concerts

🎵 Twenty One Pilots
Climate Pledge Arena, Seattle
Thursday, Aug 22nd | (More info)

🎵 Sunny Day Real Estate
Showbox SoDo, Seattle
Friday, Aug 23rd | (More info)

Family Friendly events:

🎵 12th Avenue Square Park Free 'Live Music Thursday' Summer Concerts
564 12th Avenue, Seattle
Thursday, Aug 29th | (More info)

Image of the Week

Every week, I have a habit of making some AI art about our city.

This week, I typed in “Seattle where architecture is inspired by different musical genres” and this is what I got.

Let me know what ideas you have for this. I really enjoy making these types of photos.

Seattle Historical Events

Earthquake of 1965 - A significant seismic event that led to changes in building codes and awareness.

The earthquake of April 29, 1965, marked a pivotal moment in the history of Seattle, Washington, and its surrounding areas. With a magnitude of 6.7, this significant seismic event, known as the Puget Sound earthquake, shook the region, leaving a lasting impact on its communities and infrastructures. The quake resulted in the deaths of seven people, caused numerous injuries, and inflicted considerable damage to buildings, roads, and bridges. Its epicenter was located near the Seattle-Tacoma area, bringing to light the vulnerability of the Pacific Northwest to seismic activity.

The 1965 earthquake prompted a comprehensive reassessment of the region's preparedness for seismic events. In the aftermath, it became apparent that many of the existing structures were not built to withstand such powerful tremors. This realization led to a push for changes in building codes and construction practices to enhance earthquake resilience. The event spurred advancements in seismology and engineering within the Pacific Northwest, catalyzing efforts to better understand the area's seismic risk and to develop strategies for reducing future earthquake-related hazards.

Moreover, the earthquake significantly raised public awareness about the inherent seismic risks in the region. It acted as a wake-up call for both government officials and the public, emphasizing the importance of emergency preparedness and the need for community education on earthquake safety. In the years following the quake, Seattle and its surrounding areas witnessed the implementation of stricter building codes, the retrofitting of older structures, and the development of comprehensive emergency management plans. The 1965 earthquake thus played a crucial role in transforming how the region approached earthquake preparedness, leading to enhanced safety measures that continue to protect the Pacific Northwest's residents and infrastructure from seismic hazards.

Famous People From Seattle

Paul Allen (1953–2018) - Co-founder of Microsoft and philanthropist, his investments and cultural contributions have significantly shaped modern Seattle.

Paul Allen, co-founder of Microsoft and an influential philanthropist, left an indelible mark on the tech world and his hometown of Seattle. His investments and cultural contributions have significantly shaped modern Seattle, preserving and enhancing its vibrant culture and economy.

Discovery of Computing (1953–1970)

Born in Seattle, Washington, Paul Allen developed an interest in computing at a young age. He met Bill Gates, a fellow enthusiast, in the Lakeside School. Together, they dreamed of a future where personal computers would become ubiquitous. This shared vision would eventually lead to the creation of Microsoft.

Co-founding Microsoft (1975–1983)

After dropping out of Washington State University, Allen and Gates founded Microsoft in 1975. Allen's foresight was instrumental in securing a contract to supply an operating system for the IBM PC, which catapulted Microsoft into the forefront of software development, laying the foundation for its dominance in the personal computing industry.

Pioneering Personal Computing (1983–1990)

Allen played a crucial role in the development of software that would drive the personal computing revolution. Even after being diagnosed with Hodgkin's disease in 1983, Allen continued to influence Microsoft's strategic decisions, though he reduced his role at the company to fight his illness.

Investments and Entrepreneurship (1990–2000)

After leaving Microsoft, Allen pursued various investment ventures through his firm, Vulcan Inc. His investments ranged from technology companies to real estate, and he also founded Interval Research Corporation, focusing on future technologies and communications systems.

Seattle's Cultural Transformation (2000–2010)

Allen's investments significantly shaped Seattle's skyline and cultural scene. He was instrumental in the establishment of the Experience Music Project (now Museum of Pop Culture), which became an iconic symbol of Seattle's rich musical heritage. His contributions to reviving the South Lake Union district helped transform it into a thriving tech hub.

Philanthropy and Scientific Research (2000–2018)

Through the Paul G. Allen Family Foundation, Allen donated over $2 billion to causes ranging from global health to community services. He founded the Allen Institute for Brain Science in 2003, underscoring his commitment to tackling challenging scientific questions and advancing human knowledge.

Preserving Oceans and Wildlife (2010–2018)

Allen's philanthropic efforts extended to oceans and wildlife conservation. He funded projects to protect endangered species and their habitats, and he initiated the Global FinPrint project focused on the conservation of shark populations worldwide.

Art Collection and Seattle's Cultural Scene (Entire Life)

Allen was a prominent art collector, and his contributions to the art world were significant. He believed in the power of art to connect and inspire communities, contributing to various art initiatives and exhibitions in Seattle and beyond.

Sports and Entertainment Ventures (1988–2018)

Allen owned the Portland Trail Blazers and the Seattle Seahawks, demonstrating his passion for sports and its ability to unite communities. His ownership was marked by successes, including leading the Seahawks to their first Super Bowl victory in 2014.

Legacy and Impact (2018 and Beyond)

Paul Allen passed away in 2018, leaving a legacy of innovation, philanthropy, and cultural enrichment that continues to influence Seattle and the world. His vision for a better future through technology, science, and community engagement remains a guiding force for many.

Key Achievements of Paul Allen:

• Co-founded Microsoft, revolutionizing the personal computing industry.

• Invested in various sectors, significantly shaping Seattle's economy and cultural scene.

• Donated over $2 billion to philanthropic causes, including global health, education, and the arts.

• Founded the Allen Institute for Brain Science, contributing to major advances in neuroscience.

• Owned and revitalized the Portland Trail Blazers and the Seattle Seahawks, leaving a lasting impact on sports.

Paul Allen's story is one of visionary innovation, profound philanthropy, and a deep commitment to his community. His investments and cultural contributions have helped shape modern Seattle, making it a thriving center for technology and the arts. Through his foundation and diverse ventures, Allen's legacy continues to inspire and influence the world in positive ways.

Connect With Me

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I would love to hear from you. Don’t be shy.

-Matthew Larsen

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