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Photo: RNewsfoto/Triller

Josh Richards is joining Remus Capital, an early-stage venture capital firm, as a Venture Partner, Axios has learned.

The backdrop: Richards, 18, has more than 22 million followers on TikTok and is an angel investor and chief strategy officer at Triller. Remus invests in startups that cater to Gen-Z, like boutique fitness app ClassPass.

Why it matters: So much of being a good early-stage investor is about having a unique network to find hot companies early — so it’s no surprise a VC firm sees value in an influencer like Richards, who, along with his TikTok following, has already ventured into podcasts and is working for Triller. 

  • Equally unsurprising is that young TikTok stars like Richards want to use their fortunes to become professional tech investors.
  • They’ve grown up with smartphones and have been exposed to the culture of investing through collaborations with even bigger stars and celebrities.
  • They live in Los Angeles, which has a local tech industry of its own right (not to mention tech role models like Snap’s Evan Speigel).

Details: Richards rose to fame this year alongside several other young, male creators as members of the "Sway House," one of the prominent TikTok creator collaboratives, headquartered in a mansion in Bel Air.

  • Richards and fellow "Sway House" TikTok stars Bryce Hall and Griffin Johnson have already used some of their TikTok earnings to invest in a few early stage media and tech startups.
  • Richards left the Sway House earlier this year to focus on investing and other projects. He will still serve as CSO of Triller, the rival TikTok app.

The big picture: Financial advice on TikTok is a growing theme, for better or worse. Young TikTok users, bored at home during the pandemic, have taken to trading apps like Robinhood this year for retail trading, sometimes getting themselves into financial trouble.

Go deeper

Felix Salmon, author of Capital
Jan 22, 2021 - Economy & Business

GameStop stock continues to defy gravity

Expand chart
Source: FactSet; Chart: Axios Visuals

Shares in GameStop surged as high as $76.73 on Friday in what has been described as an "epic short squeeze."

Why it matters: The GameStop fight, with Redditors and TikTok influencers on the long side and investment professionals like Citron Research's Andrew Left on the short side, has turned ugly in recent days. But for the time being, the amateur investors are winning.

Bipartisan tributes flood in for "giant of the Senate" Bob Dole

Republican presidential candidate Bob Dole, left, and Sen. Chuck Grassle (R-Iowa) look out into the crowd at a "Dole for President" rally at Hy-Vee Foods corporate office in Des Moines on April 13. Photo: J. DAVID AKE/AFP via Getty Images

Republican and Democratic politicians, including former Senate colleagues, are sharing condolences and memories commemorating the life of Bob Dole, who passed away at 98 on Sunday morning.

The big picture: Dole, the Republican presidential nominee in 1996, was the longest serving Republican leader in the Senate until 2018, when current Senate Minority Leader Mitch McConnell surpassed his record,

Former Sen. Bob Dole dies

Former Sen. Bob Dole in 2019. Photo: Tom Brenner/Getty Images

Former Kansas Sen. Bob Dole passed away Sunday morning at the age of 98, the Elizabeth Dole Foundation announced in a statement.

Driving the news: Dole, a revered figure in U.S. politics and the Republican presidential nominee in 1996, served in the Senate for 27 years, including 11 years as GOP leader. Earlier this year he revealed he had been diagnosed with stage 4 lung cancer.

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