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A Wall Street trading bonanza, how to benefit from the stimulus bill, and Silicon Valley steps up

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Hello!

I want to start this newsletter with an extract from an internal memo Citadel founder and hedge fund billionaire Ken Griffin recently sent to staff. Here goes: 

In recent months, we have all been impacted by the coronavirus pandemic. We are in an unprecedented moment of global distress as the entire world faces this common invisible threat. And when the chaos settles, we will be measured by the character we exhibit in our work and in our communities.

In the blink of an eye, we now find ourselves juggling countless new demands on our time, mental capacity and emotional energy. Amid great uncertainty, it is natural to feel thrust into a tailspin. Few of us have ever faced this level of uncertainty in our lifetimes, and the weight of a myriad of new demands will impact each of us differently. We will all have our moments.

That feels right. We will all have our moments. I hope you and yours are doing as well as can be expected given the circumstances. For those interested, you can read the full memo here:

'We are in an unprecedented moment of global distress': Read the full memo billionaire Ken Griffin sent to Citadel employees on the coronavirus crisis

Two quick programming notes:

Read on for more on a Wall Street trading bonanza and how to navigate the stock market uncertainty, how to benefit from the stimulus bill, and how Silicon Valley is stepping up. 

A Wall Street trading bonanza

Alex Morrell and Dakin Campbell this week reported on Wall Street's coronavirus-fueled trading frenzy, where historic shocks of volatility are creating massive paydays

Elsewhere:

I've written before that there will be no going back to normal. The finance team had two great stories on that theme this week. 

And for those looking for help navigating the current market turmoil, here are some highlights from our investing team:

President Donald Trump hands a pen to Senate Majority Leader Mitch McConnell of Ky., after signing the coronavirus stimulus relief package in the Oval Office at the White House, Friday, March 27, 2020, in Washington. From left, White House chief economic adviser Larry Kudlow, Treasury Secretary Steven Mnuchin, McConnell, Trump, House Minority Leader Kevin McCarty, R-Calif., and Vice President Mike Pence. (AP Photo/Evan Vucci)

How to benefit from the stimulus bill

Our team of reporters focused on entrepreneurs and small businesses has been hard at work this week covering the government's $349 billion relief program. 

In related news, Kimberly Leonard got her hands on a leaked document from Senate Democrats that provides clues on how the federal government will allocate $100 billion from the coronavirus stimulus to hospitals.

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Silicon Valley steps up

While Wall Street has been adjusting to wild market moves while WFH, and small businesses have been poring through the stimulus bill to see a way to survive, big tech has been positioning itself as the solution to some of the challenges we're now faced with.  

Stay safe, everyone.

-- Matt

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