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   How much longer will the US government shutdown last? Prediction markets have clues
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                   Presented by
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                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Hey Snackers,
                  </span>
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                  <p style="margin:0;margin-bottom:16px">
                   Would you trust your investment strategy to
                   <strong>
                    ChatGPT
                   </strong>
                   ? Well, there is currently a contest pitting some of the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     top AI models against one another in cryptocurrency trading
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   and GPT-5 is doing very poorly compared to
                   <strong>
                    Grok
                   </strong>
                   ,
                   <strong>
                    Gemini
                   </strong>
                   , and
                   <strong>
                    DeepSeek
                   </strong>
                   , with only
                   <strong>
                    Google’s Gemini
                   </strong>
                   underperforming the
                   <strong>
                    OpenAI
                   </strong>
                   model. But that may change as AI becomes more financially savvy. Bloomberg reported yesterday that OpenAI has hired over
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     100 former investment bankers
                    </strong>
                   </a>
                   to make financial models to train ChatGPT and
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     paying them a pretty penny to do so
                    </strong>
                   </a>
                   <strong>
                    .
                   </strong>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   US stocks went nowhere on Tuesday amid a big rotation
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     out of gold
                    </strong>
                   </a>
                   <strong>
                   </strong>
                   and into fake meat.
                  </p>
                  <p style="margin:0">
                   It was the
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     calmest session for the S&amp;P 500 in over a month
                    </strong>
                   </a>
                   : the S&amp;P 500 finished roughly flat, as did the Nasdaq 100. The Russell 2000, meanwhile, slumped about 0.5% on the session. Consumer discretionary was the best-performing S&amp;P sector ETF, while utilities was at the bottom of the leaderboard.
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                  <!--[if mso]>
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<v:stroke dashstyle="Solid" weight="2px" color="#000000"/>
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                  <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 2px solid #000000; border-left: 2px solid #000000; border-radius: 7px; border-right: 2px solid #000000; border-top: 2px solid #000000; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 14px; font-weight: 400; mso-border-alt: none; padding-bottom: 2px; padding-top: 2px; padding-left: 11px; padding-right: 11px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     SHUTDOWN WATCH
                    </strong>
                   </span>
                  </span>
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Traders are getting more and more pessimistic about the government shutdown ending any time soon
                   </strong>
                  </a>
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                  <p style="margin:0;margin-bottom:16px">
                   As the government shutdown enters its fourth week, market pessimism about a speedy resolution to the impasse has grown substantially, based on the prevailing sentiment gleaned from
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     prediction market data.
                    </strong>
                   </a>
                  </p>
                  <p style="margin:0">
                   In particular, data from the “How long will the government shutdown last?” contract offered by Robinhood allows us to look at granular shifts in how traders perceive the negotiations to be going.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li style="Margin:0 0 8px 0">
                    As it stands, based on pricing data current through Sunday, the median expected total length of the shutdown is now 44 days, bringing it to mid-November.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Prediction markets have become an increasingly monitored proxy to infer the percentage chance the market assigns to an event happening.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    The priced-in chance of a shutdown lasting over 60 days has now hit
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      25%
                     </strong>
                    </a>
                    , which would mean the government is closed through at least the end of November.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Traders are somehow
                    <em>
                     more
                    </em>
                    pessimistic about
                    <strong>
                    </strong>
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      the timeline for resolving the shutdown
                     </strong>
                    </a>
                    today than they were a little over a week ago.
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   On October 8, the median expected length of the shutdown in total was 23 days, implying traders expected the shutdown would continue for another 15 days. As of Sunday October 19, the median expected total length of the shutdown was 44 days, implying that traders are pricing in another 25 days of shutdown.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:8px;padding-top:24px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   If traders expected that a resolution to the negotiations was approaching, we would expect to see the number of days remaining in a shutdown decline. If traders price that negotiations are at a stalemate and conditions for a resolution are not moving, we would expect the number of days of the shutdown to increase at a rate of one day per day, and the days remaining to stay flat. Essentially, the market’s saying that we’re
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     further away from a resolution to the shutdown than we were even a week ago
                    </strong>
                   </a>
                   , that the situation has deteriorated and not improved.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="10" cellspacing="0" class="button_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                     <strong>
                      Go deeper
                     </strong>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     Presented by StartEngine
                    </strong>
                   </span>
                  </span>
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                  <strong>
                   Wall Street Is Heating Up. StartEngine Wants You To Have a Seat at the Table.
                  </strong>
                 </h1>
                </td>
               </tr>
              </table>
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                   <a target="_blank">
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                  <p style="margin:0">
                   Kevin O’Leary is a paid spokesperson for StartEngine. See his 17(b) disclosure,
                   <a style="text-decoration: underline; color: #5869ff;">
                    here
                   </a>
                   .
                  </p>
                 </div>
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                  <p style="margin:0;margin-bottom:16px">
                   Wall Street is buzzing again. According to EY, in Q3 2025 global IPO proceeds are up 89% YoY, as markets rebound and tech listings surge.
                   <sup>
                    1
                   </sup>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   But for most investors, much of the upside has already been claimed by the time a company rings the bell.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Enter
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     StartEngine
                    </strong>
                   </a>
                   . The company provides investors like you with access to private market opportunities of all sizes, including pre-IPO companies like
                   <strong>
                    Databricks
                   </strong>
                   and
                   <strong>
                    xAI
                   </strong>
                   .
                   <sup>
                    2
                   </sup>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   That access has attracted strong investor interest — and record financials. StartEngine became profitable in H1 2025 with $4.9M GAAP ($11.9M adjusted EBITDA).
                   <sup>
                    3
                   </sup>
                   After reaching $48M in annual revenue for 2024, they posted $70M revenue in the first half of 2025, up 3x YoY.
                   <sup>
                    4
                   </sup>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   Now you can
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     invest directly in the platform powering this private market revolution
                    </strong>
                   </a>
                   . Join
                   <strong>
                    50K+ shareholders
                   </strong>
                   who have
                   <strong>
                    invested $80M+
                   </strong>
                   in StartEngine across all offerings.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     Learn more about this opportunity
                    </strong>
                   </a>
                   <strong>
                    .
                   </strong>
                   <sup>
                    5
                   </sup>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
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                  <!--[if mso]>
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                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     STRANGER EARNINGS
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
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                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Netflix is investing just $0.40 into content for every $1 of revenue
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   Netflix
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     posted its worst earnings miss in years
                    </strong>
                   </a>
                   after the bell yesterday and investors bailed out of the company’s stock faster than contestants were eliminated in the first round of “Squid Game.”
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   The company posted third-quarter earnings of $5.87 per share, below analyst expectations of $6.97, marking the biggest earnings miss since 2022. But there was some good news — it reported revenue of
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     $11.51 billion
                    </strong>
                   </a>
                   , in line with expectations and up 17% from last year.
                  </p>
                  <p style="margin:0">
                   And here’s where things get interesting: while Netflix’s revenue base keeps growing, the streamer is reinvesting a lower percentage of that revenue back into content,
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     as we’ve charted here
                    </strong>
                   </a>
                   <strong>
                    .
                   </strong>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-5" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:15px;padding-left:10px;padding-right:10px;padding-top:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li style="Margin:0 0 8px 0">
                    When the first season of “Stranger Things” debuted on Netflix in the third quarter of 2016, for every
                    <strong>
                     $1
                    </strong>
                    of revenue, Netflix put
                    <strong>
                     $1.07
                    </strong>
                    into creating or acquiring new shows or movies.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Nine years later, with the fifth and final season of Netflix’s premier franchise set to debut, the streamer’s strategy has shifted. In Tuesday’s earnings report, for every
                    <strong>
                     $1
                    </strong>
                    of revenue Netflix made in Q3, it invested only
                    <strong>
                     $0.40
                    </strong>
                    into content.
                   </li>
                   <li style="Margin:0 0 8px 0">
                    That’s above the
                    <strong>
                     $0.35
                    </strong>
                    it invested in the previous quarter, but significantly below the
                    <strong>
                     $0.73
                    </strong>
                    it posted in the fourth quarter of 2021 before its “
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      Black Tuesday
                     </strong>
                    </a>
                    ”
                    <strong>
                    </strong>
                    earnings report cratered the stock in 2022 and
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      led to big shifts
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    in the streamer’s content spending strategy.
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-6" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   Of course, the trend reflects a ratio of content spending to revenue. In absolute values, Netflix is spending more on content than it used to — it’s just making more. In 2016, the company spent about
                   <strong>
                    $8.7 billion
                   </strong>
                   on content. This year, it said it
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     expects
                    </strong>
                   </a>
                   to spend around
                   <strong>
                    $18 billion.
                   </strong>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-9" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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                <td class="pad" style="padding-bottom:8px;padding-top:24px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:23px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:28px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   THE TAKEAWAY
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0">
                   While it may be rough for Hollywood, Wall Street certainly enjoys the idea of spending less and making more. Netflix also reported it’s
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     “using AI” to test formats on its ad tier
                    </strong>
                   </a>
                   <strong>
                    ,
                   </strong>
                   which analysts expect to drive higher revenue per user than the pricier ad-free subscription. Netflix has some big swings coming in its fourth quarter slate and expects to grow revenue 17% as “Stranger Things” ends and its two Christmas day NFL games stream.
                  </p>
                 </div>
                </td>
               </tr>
              </table>
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                  <a style="color:#ffffff;text-decoration:none;" target="_blank">
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                     <strong>
                      Read more
                     </strong>
                    </span>
                   </span>
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                  </a>
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       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-10" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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<v:roundrect xmlns:v="urn:schemas-microsoft-com:vml" xmlns:w="urn:schemas-microsoft-com:office:word"   style="height:20px;width:259px;v-text-anchor:middle;" arcsize="27%" fillcolor="#5869ff">
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<![endif]-->
                  <span class="button" style="background-color: #5869ff; mso-shading: transparent; border-bottom: 2px solid #000000; border-left: 2px solid #000000; border-radius: 7px; border-right: 2px solid #000000; border-top: 2px solid #000000; color: #ffffff; display: inline-block; font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif; font-size: 14px; font-weight: 400; mso-border-alt: none; padding-bottom: 2px; padding-top: 2px; padding-left: 11px; padding-right: 11px; text-align: center; width: auto; word-break: keep-all; letter-spacing: normal;">
                   <span style="word-break: break-word; line-height: 16.8px;">
                    <strong>
                     THE BEST THING WE READ TODAY
                    </strong>
                   </span>
                  </span>
                  <!--[if mso]></center></v:textbox></v:roundrect><![endif]-->
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <a style="text-decoration: underline; color: #5869ff;">
                   <strong>
                    Beyond Meat’s meme stock rally continues after breaking records for volumes, options traded, and one-day gains
                   </strong>
                  </a>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-3" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px">
                 <div style="color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px">
                  <p style="margin:0;margin-bottom:16px">
                   The plant-based meat company’s trading activity is beyond any meme stock move we’ve seen this year.
                  </p>
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #5869ff;">
                    <strong>
                     See the charts.
                    </strong>
                   </a>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="divider_block block-4" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                     <span style="word-break: break-word;">
                     </span>
                    </td>
                   </tr>
                  </table>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-11" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:10px;text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   What else we're Snackin'
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="list_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word;color:#1d1d1d;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.5;text-align:left;mso-line-height-alt:27px" width="100%">
               <tr>
                <td class="pad" style="padding-bottom:5px;padding-left:10px;padding-right:10px">
                 <div style="margin-left:-20px">
                  <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                   <li style="Margin:0 0 8px 0">
                    <strong>
                     Amazon
                    </strong>
                    aims to automate 75% of its operations and
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      avoid hiring 600K+ people
                     </strong>
                    </a>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    <strong>
                     Warner Bros. Discovery
                    </strong>
                    said it’s gotten takeover interest from
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      multiple parties
                     </strong>
                    </a>
                    <strong>
                    </strong>
                    and then quietly announced it’s raising prices on
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      HBO Max
                     </strong>
                    </a>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    <strong>
                     OpenAI
                    </strong>
                    released a Chrome-competitor browser “ChatGPT Atlas,” but it’s the data that comes with it
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      that really matters
                     </strong>
                    </a>
                   </li>
                   <li style="Margin:0 0 8px 0">
                    Remember the
                    <strong>
                     Cracker Barrel
                    </strong>
                    logo backlash?
                    <a style="text-decoration: underline; color: #5869ff;">
                     <strong>
                      The CEO explained the change
                     </strong>
                    </a>
                   </li>
                  </ul>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-12" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-bottom:5px;padding-left:25px;padding-right:25px;padding-top:5px;vertical-align:top" width="100%">
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                 </div>
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      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-13" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-size:auto" width="100%">
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-size:auto;background-color:#5869ff;border-bottom:30px solid #fff;border-left:30px solid #fff;border-radius:10px;border-right:30px solid #fff;border-top:30px solid #fff;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;border-bottom:4px solid #5869ff;border-left:4px solid #5869ff;border-right:4px solid #5869ff;border-top:4px solid #5869ff;padding-bottom:15px;padding-left:25px;padding-right:25px;padding-top:15px;vertical-align:top" width="100%">
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-1" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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                 <h1 style="margin:0;color:#fff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Snack Fact of the Day
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="paragraph_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;word-break:break-word" width="100%">
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                <td class="pad" style="padding-bottom:10px;padding-left:40px;padding-right:40px;padding-top:10px">
                 <div style="color:#000;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:18px;font-weight:400;letter-spacing:0;line-height:1.2;text-align:center;mso-line-height-alt:22px">
                  <p style="margin:0">
                   <a style="text-decoration: underline; color: #ffffff;">
                    <strong>
                     If you eat meat, your “hoofprint” depends on where in the US you reside.
                    </strong>
                   </a>
                  </p>
                 </div>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-14" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
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         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;border-radius:0;color:#000;width:600px;margin:0 auto" width="600">
           <tbody>
            <tr>
             <td class="column column-1" style="mso-table-lspace:0;mso-table-rspace:0;font-weight:400;text-align:left;padding-left:25px;padding-right:25px;vertical-align:top" width="100%">
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                     <span style="word-break: break-word;">
                     </span>
                    </td>
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                  </table>
                 </div>
                </td>
               </tr>
              </table>
              <table border="0" cellpadding="0" cellspacing="0" class="heading_block block-2" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
               <tr>
                <td class="pad" style="text-align:center;width:100%">
                 <h1 style="margin:0;color:#5869ff;direction:ltr;font-family:'Helvetica Neue',Helvetica,Arial,sans-serif;font-size:25px;font-weight:700;letter-spacing:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-line-height-alt:30px">
                  <span class="tinyMce-placeholder" style="word-break: break-word;">
                   Wednesday
                  </span>
                 </h1>
                </td>
               </tr>
              </table>
             </td>
            </tr>
           </tbody>
          </table>
         </td>
        </tr>
       </tbody>
      </table>
      <table align="center" border="0" cellpadding="0" cellspacing="0" class="row row-15" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0" width="100%">
       <tbody>
        <tr>
         <td>
          <table align="center" border="0" cellpadding="0" cellspacing="0" class="row-content stack" role="presentation" style="mso-table-lspace:0;mso-table-rspace:0;background-color:#fff;color:#000;width:600px;margin:0 auto" width="600">
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                   <li style="Margin:0 0 8px 0">
                    Earnings expected from
                    <strong>
                     AT&amp;T, GE Vernova, Seagate Technology, IBM, Tesla,
                    </strong>
                    and
                    <strong>
                     Southwest Airlines
                    </strong>
                   </li>
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                  <p style="margin:0;margin-bottom:16px">
                   <strong>
                    Advertiser's disclosures:
                    <br/>
                   </strong>
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   1 Source: George Chan, “
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    EY Global IPO Trends Q3 2025
                   </a>
                   ,” EY, October 8, 2025
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   2 The underlying companies held by StartEngine Private Funds LLC, and StartEngine Private LLC (together, “StartEngine Private”) are not participating or involved in the offering. The availability of company information does not indicate that the company has endorsed, supports or otherwise participates with StartEngine Private or any of its affiliates. StartEngine Crowdfunding LLC purchases shares from current and former employees, early investors, and advisors of the companies and sells the shares to StartEngine Private for each offering. When you make an investment in a company on StartEngine Private, you are purchasing an interest in a series of StartEngine Private Funds LLC or StartEngine Private LLC, each a Delaware limited liability company (together the “Series LLCs”), which were created to hold shares of privately held companies. An investor will not directly own or hold shares of the private company but instead will own member interests in a series of the Series LLCs, which either directly or indirectly, will hold shares in the company. There may not be a one-to-one economic parity on the value of the Series LLCs interests and the underlying shares.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   3 We define Adjusted EBITDA as net income (loss) calculated in accordance with GAAP adjusted to exclude interest expense, interest income, income taxes, depreciation, and amortization, and stock based compensation. We present Adjusted EBITDA because it is a key measure used by our management team to evaluate our operating performance, generate future operating plans and make strategic decisions. We believe Adjusted EBITDA provides useful information to investors regarding our operational performance and our ability to generate cash flows. Non-GAAP information should be considered as supplemental in nature and is not meant to be considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP. In addition, our non-GAAP financial measures may not be the same as or comparable to similar non-GAAP financial measures presented by other companies.
                  </p>
                  <p style="margin:0">
                   The following table reconciles net income (loss), the most directly comparable U.S. GAAP measure, to Adjusted EBITDA for the periods presented:
                  </p>
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                  <p style="margin:0;margin-bottom:16px">
                   There is no assurance that we will be consistently profitable in the next three years or generate sufficient annual revenues to pay dividends to the holders of our shares. We have not yet generated yearly profits, and may not do so in the near future.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   4 Based on our
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    Q2 2025 Form 10-Q/A
                   </a>
                   . This revenue growth has been driven by StartEngine Private, a new product line that offers funds in late stage companies. This product line has driven over $34.1 million of the $39 million in revenue from Q2 2025. To understand the impact on margins,
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    see financials
                   </a>
                   . Past performance may not be indicative of future performance.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   See page 4 of the
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    Q2 2025 Form 10-Q
                   </a>
                   for the H1 2025 and H1 2024 total revenues. See page 35 of the offering circular and
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    Management’s Discussion and Analysis of Financial Condition and Results of Operations
                   </a>
                   for 2024 annual revenues.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   5 This is a paid advertisement for StartEngine’s Regulation A+ offering. For more information, please see the most recent
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    Offering Circular
                   </a>
                   and
                   <a style="text-decoration: underline; color: #1d1d1d;">
                    Risks
                   </a>
                   related to this offering.
                  </p>
                  <p style="margin:0;margin-bottom:16px">
                   This Reg A+ offering is made available through StartEngine Crowdfunding, Inc. No broker-dealer or intermediary is involved in the offering. In addition, as described in the Offering Circular, the Company retains the right to continue the offering beyond the Termination Date, in its sole discretion.
                  </p>
                  <p style="margin:0">
                   Investing in private company securities is not suitable for all investors. This investment is highly speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. It should only be considered a long-term investment. There is no guarantee that a market will develop for such securities.
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                   SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025
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