Hey Snackers,
Some dress up as vampires for Halloween, while others buy vampire caskets: Titan Caskets is gaining sway in the funeral industry with pop culture branding, from a Taylor Swift music-video cameo to TV-show-themed designs.
Lackluster tech earnings dragged the Nasdaq and S&P 500 down (Meta plunged 25%). The Dow perked up on news that the US economy grew 2.6% last quarter after shrinking in the first half of the year. Also: Elon Musk now runs Twitter.
Primed for a slowdown⊠Yesterday Amazon became the latest techie to deliver uninspiring third-quarter earnings. The ecomm staple missed both sales and profit expectations, but what disappointed investors most was a weak forecast for this quarter. After the bell, Amazon shares tumbled by as much as 20%.
Quote of the quarter⊠from the mouth of Amazon CEO Andy Jassy to investorsâ ears: âThere is obviously a lot happening in the macroeconomic environment.â Amazonâs much-lower-than-expected Q4 sales guidance includes a big hit from the strong US dollar.
Big Techies are in the same boat⊠Oil titans like Shell are still reporting booming profits, while big food staples like Coke are raising their outlook on upbeat earnings. But for the likes of Amazon, Google, and Meta, the pandemic growth spurt is over â and the âmacroeconomicâ problems have landed. Now investorsâ expectations are being adjusted as forecasts come back down to earth.
Spend 100 days in a circle, win $500K⊠typical MrBeast. YouTube star MrBeast has 107M+ subscribers thanks to viral videos featuring elaborate stunts and giveaways (his âSquid Gameâ reenactment has nearly 300M views). Now heâs said to be looking for $150M in fresh funding to expand his Beast-based businesses:
Venture capital â creator capital... Investors are racing to put their money in social-media startups as overnight sensations emerge from platforms like TikTok and YouTube. VC funding for creator startups has already topped $637M this year, on pace to beat last yearâs record. Now some of the biggest social stars want in:
Creators offer fans-as-a-service⊠Social-media stars are ripe targets for investors given their ability to make content, build audiences, and capitalize on both â all in a self-promoting cycle of content, eyeballs, and products. Mega-creators like MrBeast can offer their empires on a platter, which could translate to big returns. Last year, MrBeast generated $54M in revenue, or $147K/day.
Authors of this Snacks own: shares of Amazon, Apple, Exxon, and Google
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