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…and TikTok’s long talk with Congress as a possible US ban looms
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<p>
Googling Bard or Barding Google? (CFOTO/Future Publishing via Getty Images)
</p>
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<div style="font-family:'Capsule Sans Text', Arial;font-size:13px;line-height:1;text-align:center;color:#000000;">
Last Week’s Market Moves
</div>
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<td style="font-size:0px;word-break:break-word;">
<div style="height:20px;line-height:20px;">
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<td align="left" class="desktop marketIndices" style="font-size:0px;padding:0;word-break:break-word;">
<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Capsule Sans Text', Arial;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
<tr>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Dow Jones
<br/>
<span style="font-weight: 700;">
32,238
<span style="color: rgb(0, 200, 5);">
(+1.18%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
S&P 500
<br/>
<span style="font-weight: 700;">
3,971
<span style="color: rgb(0, 200, 5);">
(+1.39%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Nasdaq
<br/>
<span style="font-weight: 700;">
11,824
<span style="color: rgb(0, 200, 5);">
(+1.66%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Bitcoin
<br/>
<span style="font-weight: 700;">
$27,500
<span style="color: rgb(0, 200, 5);">
(+0.42%)
</span>
</span>
</span>
</td>
</tr>
</table>
</td>
</tr>
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<td align="left" class="mobile marketIndices" style="font-size:0px;padding:0;word-break:break-word;">
<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:'Capsule Sans Text', Arial;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
<tr>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Dow Jones
<br/>
<span style="font-weight: 700;">
32,238
<span style="color: rgb(0, 200, 5);">
(+1.18%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
S&P 500
<br/>
<span style="font-weight: 700;">
3,971
<span style="color: rgb(0, 200, 5);">
(+1.39%)
</span>
</span>
</span>
</td>
</tr>
<tr>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Nasdaq
<br/>
<span style="font-weight: 700;">
11,824
<span style="color: rgb(0, 200, 5);">
(+1.66%)
</span>
</span>
</span>
</td>
<td>
<span class="text" style="font-family: 'Capsule Sans Text', Arial; font-size: 13px; line-height: 22px; padding: 0;">
Bitcoin
<br/>
<span style="font-weight: 700;">
$27,500
<span style="color: rgb(0, 200, 5);">
(+0.42%)
</span>
</span>
</span>
</td>
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<div style="font-family:'Capsule Sans Text', Arial;font-size:15px;font-weight:400;letter-spacing:-0.1px;line-height:24px;text-align:left;color:#000000;">
<p>
<strong>
Hey Snackers,
</strong>
</p>
<p>
Important update from the scientific community: MIT researchers
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
twisted
</a>
apart 1K+ Oreos to discover the perfect cream-splitting method. Conclusion: getting the filling on both wafers isn't child's play.
</p>
<p>
Stocks ticked up for the week as investors flirted with the possibility of a Powell rate-hike pause (#Powse) after the expected quarter-point hike last week. Bank stocks partially recovered from panic-induced losses as officials worked to reassure markets that the sector’s strong.
</p>
</div>
</td>
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<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<div style="font-family:'Capsule Sans Text', Arial;font-size:15px;font-weight:400;letter-spacing:-0.1px;line-height:24px;text-align:left;color:#000000;">
<strong>
Btw...
</strong>
Do you want to start getting Snacks daily? Or prefer to unsubscribe? Manage your subscription preferences
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
here
</a>
.
</div>
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<td align="center" class="light" style="font-size:0px;padding:10px 25px;padding-top:24px;padding-right:0;padding-bottom:24px;padding-left:0;word-break:break-word;">
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<img alt="" border="0" height="1" src="https://inboxflows.com/_/image/https%253A%252F%252Fsg.robinhood.com%252Fwf%252Fopen%253Fupn%253Dq-2FZ-2F8R4uR3lRXK3PO4ZkVk-2BZt1SqpCIyBv-2FIozTjk2VNN3eQssMFJBT95MovldJRdvNIvxPQ-2FMKILryPq-2Fibq4sNew4m3Jng6PRmD7uHiGhS-2Brsb6WFmIikRAG1xNeJRu64oYgFUEhBvWJwhZ366tKxz-2BhJs4Ce0xGNNwhLfipFMKvoe37vsl-2FZkmQTNNMRjzaPduiqVOgQ4uRnQu1fd7AET2ayu-2Bv-2FgugmtlWQAT-2FZt-2FYttdZdet6gs9PMhK2qDm1aXGNFSI6-2BHQnrrhh6G-2F5EhBlvH8nMl4cTQbJbAtExT7c7tnH70Zr4BzcDt44F7iRsud-2FpRKi0Q25cVzEZ-2FsHqruN8bVdj83kmBeaNShI1v9yvskMY6Q8Gm6Sfl19bwXGYYrZri4BF5f4VBY-2F6bfiYs70yJhqMri7deS4mlykQD6IV4UuRUto478xU-2B6cK9v64aASM1RTjI9A6PRITsv4QQ98mQpPhoYV5slaYbrqKaH8D1LcMs1ovhJAbJJF1-2Fb0FEJXZgKPC3csEm1O599rZhsy4pRb70kvjdgRLH8z656I0qbGrdiWsGrkwFieRHRwWXvuyM-2Bt8hYV0-2F8whqhw-3D-3D/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZzZy5yb2JpbmhvbyJ9:1pglkU:3pg8XxcyiS52rNT8HKVUdQu3YdWXpYCryA8iM_K8MQQ" style="height:1px !important;width:1px !important;border-width:0 !important;margin-top:0 !important;margin-bottom:0 !important;margin-right:0 !important;margin-left:0 !important;padding-top:0 !important;padding-bottom:0 !important;padding-right:0 !important;padding-left:0 !important;" width="1"/>
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Extra
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<div style="font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;line-height:32px;text-align:left;color:#000000;">
<p>
As AI moves at breakneck speed, publishers gear up for a clash with Google and Microsoft
</p>
</div>
</td>
</tr>
<tr>
<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<div style="font-family:'Capsule Sans Text', Arial;font-size:15px;font-weight:400;letter-spacing:-0.1px;line-height:24px;text-align:left;color:#000000;">
<p>
<strong>
“Just Bard it”….
</strong>
not as catchy. Last week
<strong>
Google
</strong>
released its ChatGPT rival, Bard, as the chatbot race heats up (#AI-of-the-tiger). But Google expressed caution with the release, warning “things will go wrong,” and hasn’t integrated Bard into its search engine (unlike
<strong>
Microsoft
</strong>
, which launched a new CGPT-fueled Bing and 365 apps). Google’s cautiousness may be warranted: media publishers are gearing up for a showdown with Microsoft, Google, and
<strong>
OpenAI
</strong>
over their bots, The Wall Street Journal
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
reported
</a>
.
</p>
<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<strong>
Facebook = no longer media’s biggest threat.
</strong>
In 2019, half of Americans got their news from FB, and publishers wanted compensation for lost ad revenue and traffic.
</li>
<li style="margin-bottom: 12px;">
<strong>
Now it’s AI bots.
</strong>
As you’ve probably heard, large language models are trained on a massive amount of text data. That includes copyrighted articles from the web.
</li>
<li style="margin-bottom: 12px;">
<strong>
Media execs are demanding
</strong>
compensation for use of their content in AI-generated responses. CGPT has been known to plagiarize and tweak human writing.
</li>
</ul>
<p>
<strong>
CGPT feels a connection…
</strong>
Last week OpenAI announced that CGPT can now browse the web to pull info from
<em>
after
</em>
2021 (in some cases). That could pose an existential threat for news outlets. Publishing execs have started examining how much their content has been used to “train” bots, and are said to be exploring legal options, led by the publishing trade group News Media Alliance.
</p>
<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<strong>
News Corp. CEO
</strong>
Robert Thomson said, “Clearly, they are using proprietary content — there should be, obviously, some compensation for that.”
</li>
<li style="margin-bottom: 12px;">
<strong>
“Fair use” law
</strong>
allows portions of copyrighted material to be used without permission in certain cases (think: news reporting, scholarly reports).
</li>
<li style="margin-bottom: 12px;">
<strong>
In the past,
</strong>
techies like Facebook and Microsoft have struck deals to pay publishers for news featured on their platforms. While OpenAI has leaned on fair use, it said it has also paid for rights to certain content.
</li>
</ul>
</div>
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<td align="left" style="font-size:0px;padding:0;padding-top:18px;word-break:break-word;">
<div style="font-family:'Capsule Sans Text', Arial;font-size:15px;font-weight:700;letter-spacing:0.5px;line-height:0;text-align:left;color:#000000;">
<table>
<tbody>
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<td style="padding: 0 8px 0 0; height: 17px;">
<img height="17px" src="https://inboxflows.com/_/image/https%253A%252F%252Fcdn.robinhood.com%252Fmarketsnacks_assets%252Fv2%252Ftakeaway-black.png/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZjZG4ucm9iaW5obyJ9:1pglkU:re8Kru9MleTS-NKKCtoodyBxitOyGeToleyXYJ6ajto" width="17px"/>
</td>
<td style="font-weight: 700; width: 100%; padding: 0; height: 17px; line-height: 0; padding-top: 1px;">
THE TAKEAWAY
</td>
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<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<div style="font-family:'Capsule Sans Text', Arial;font-size:15px;font-weight:400;letter-spacing:-0.1px;line-height:24px;text-align:left;color:#000000;">
<p>
<strong>
Moving faster than your problems can backfire…
</strong>
Rapid-fire AI releases show that tech titans are taking an “ask for forgiveness, not permission” approach. Industries haven’t yet had time to digest issues that could arise (picture: educators scrambling to detect cheating), from bias to misinformation to copyright infringement. But when issues catch up to the innovation, it could lead to a backlog of problems all at once.
</p>
</div>
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<td align="center" class="light" style="font-size:0px;padding:10px 25px;padding-top:24px;padding-right:0;padding-bottom:24px;padding-left:0;word-break:break-word;">
<p style="border-top:solid 1px #e3e9ed;font-size:1px;margin:0px auto;width:100%;">
</p>
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Zoom Out
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<div style="font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;line-height:32px;text-align:left;color:#000000;">
<p>
Stories we’re watching
</p>
</div>
</td>
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<p>
<strong>
TikTok on the (congressional) clock…
</strong>
Last week,
<strong>
TikTok
</strong>
CEO Shou Zi Chew spent five hours being grilled by Congress to defend the app. President Biden has supported a bill that would give him the power to ban (or force a sale of) TikTok in the US, and urged Congress to pass it over national-security concerns. TikTok, the world’s fastest-growing app, has 150M+ US users. China said it would “firmly oppose” a forced sale of the app. A Tik ban would be a dream come true for
<strong>
Meta
</strong>
,
<strong>
Snap
</strong>
, and
<strong>
Google’s
</strong>
YouTube.
</p>
<p>
<strong>
All's not wells…
</strong>
<strong>
Coinbase
</strong>
is lacing up its gloves for a potential fight with regulators. The crypto exchange
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
said
</a>
it had received an SEC Wells notice saying that the commission is likely preparing to sue it over its coin listings and staking service. Coinbase has denied it lists securities and said it'd go to court if necessary. If this
<em>
does
</em>
go to court, a decision over whether cryptocurrencies are securities could force exchanges to delist some coins and reshape the crypto industry.
</p>
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<div style="font-family: 'Capsule Sans Text', Arial; font-weight: 700; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6px 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60); display: inline-block;">
Events
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<p>
Coming up this week
</p>
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<p>
<strong>
Sporting $100 leggings…
</strong>
from Shanghai to the Champs-Élysées.
<strong>
Lululemon’s
</strong>
stretching its presence overseas in search of fresh $$. Last quarter the athleisure icon’s sales and profit jumped, while revenue from China soared 70% as the country reopened. Lulu plans to triple stores in China, which it expects to be its second-largest market by 2026. In the US, Lulu’s “experiential stores” (see: hot-yoga class next to the yoga-pants rack) have boosted foot traffic. Analysts also expect hot earnings when Lulu reports tomorrow.
</p>
<p>
<strong>
Stuck in the middle with two…
</strong>
political parties.
<strong>
Walgreens
</strong>
is set to report tomorrow as it finds itself at the center of the abortion-pill debate. The pharmacy recently said it wouldn't sell the pill in 20 GOP-led states, including some where abortion’s still legal. In response, California said it wouldn’t renew a $54M contract with Walgreens — a drop in the chain's $132B annual sales, but a symbolic move. Meanwhile, Walgreens’ sales were down at the start of the year as Covid-test sales trailed off and vaccinations slowed.
</p>
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<div style="font-family: 'Capsule Sans Text', Arial; font-weight: 700; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6px 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60); display: inline-block;">
ICYMI
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<div style="font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;line-height:32px;text-align:left;color:#000000;">
<p>
Last week's highlights
</p>
</div>
</td>
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<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<div style="font-family:'Capsule Sans Text', Arial;font-size:15px;font-weight:400;letter-spacing:-0.1px;line-height:24px;text-align:left;color:#000000;">
<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Juice
</a>
:
</strong>
<strong>
Ford’s
</strong>
EV unit lost $2B+ last year as the F-150 maker splurged to boost electric production, but its OG biz was profitable. Ford’s “hybrid” structure could keep it charged until its EV biz catches up.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Handy
</a>
:
</strong>
<strong>
Panera
</strong>
is teaming up with
<strong>
Amazon’s
</strong>
biometric tech to let customers pay by scanning their palm. The bread-bowl icon hopes to make soup-and-salad habits easier (and stickier) for its 52M loyalty members.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Play
</a>
:
</strong>
<strong>
Netflix's
</strong>
ad tier hit 1M subs as more Americans pivot to cheaper streaming options. But with a password-mooching crackdown looming, the streamer is betting on blockbusters and video games to lure new subs.
</p>
</li>
</ul>
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</p>
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<table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
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<div style="font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;line-height:32px;text-align:left;color:#000000;">
What else we're Snackin'
</div>
</td>
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<td align="left" style="font-size:0px;padding:0;padding-top:12px;word-break:break-word;">
<div style="font-family:'Capsule Sans Text', Arial;font-size:15px;font-weight:400;letter-spacing:-0.1px;line-height:24px;text-align:left;color:#000000;">
<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Valid
</a>
:
</strong>
Looking to escape the desk-job life, Gen Zers are dipping their toes into home ownership. Armed with tech expertise and lessons from 2008, some real-estate influencers flex 36-unit portfolios.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Stock
</a>
:
</strong>
It’s not just Adderall: drug shortages hit a five-year peak last year for everything from flu meds to common antibiotics and diabetes treatments. Market consolidation and high demand are leading to short supply.
</p>
</li>
<li style="margin-bottom: 12px;">
<p>
<strong>
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Thorough
</a>
:
</strong>
For true self-care radicals, there’s the “everything shower,” a trend that has some folks taking hour-long showers and using dozens of products for, well, everything. Cue: hair-product sales grew 22% last year.
</p>
</li>
</ul>
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</div>
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<td style="direction:ltr;font-size:0px;padding:24px 24px 24px 24px;text-align:center;">
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<td align="left" class="mobile-snacks-title-spacing" style="font-size:0px;padding:0;padding-bottom:16px;word-break:break-word;">
<div style="font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;line-height:32px;text-align:left;color:#000000;">
Want your Snacks daily?
</div>
</td>
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<td align="left" style="font-size:0px;padding:0;padding-bottom:8px;padding-left:0;word-break:break-word;">
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<td style="padding: 0 8px 0 0;">
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</td>
<td style="font-weight: 700; width: 100%; padding: 0; line-height: 0; vertical-align: middle; padding-top: 1px;">
The Daily Newsletter
</td>
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🛻
<a rel="noopener" style="color: rgb(0, 200, 5); text-decoration: underline; font-weight: bold; text-decoration-thickness: 2px; text-underline-offset: 1px;" target="_blank">
Ford’s “hybrid” EV-olution
</a>
• Mar 24, 2023
<br/>
🪙
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Behind bitcoin's bump
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• Mar 23, 2023
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🍿
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Netflix’s (ad)option
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• Mar 22, 2023
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Despite layoffs, tech-sector unemployment was 2.2% last month, lower than the 3.6% national rate
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This Week
</div>
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<ul style="padding-left: 18px;">
<li style="margin-bottom: 12px;">
<strong>
Monday:
</strong>
Earnings expected from
<strong>
Carnival
</strong>
and
<strong>
BioNTech
</strong>
</li>
<li style="margin-bottom: 12px;">
<strong>
Tuesday:
</strong>
Earnings expected from
<strong>
McCormick
</strong>
,
<strong>
Walgreens
</strong>
,
<strong>
Dave & Buster’s
</strong>
, and
<strong>
Lululemon
</strong>
</li>
<li style="margin-bottom: 12px;">
<strong>
Wednesday:
</strong>
Earnings expected from
<strong>
Cintas
</strong>
,
<strong>
Paychex
</strong>
, and
<strong>
Planet Labs
</strong>
</li>
<li style="margin-bottom: 12px;">
<strong>
Thursday:
</strong>
Earnings expected from
<strong>
Blackberry
</strong>
and
<strong>
Neogen
</strong>
</li>
<li style="margin-bottom: 12px;">
Friday: Consumer sentiment index
</li>
</ul>
<p>
Authors of this Snacks own shares: of Amazon, Blackberry, Google, Planet Labs, Snap, and Microsoft
</p>
<p>
ID: 2813209
</p>
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2 years ago - noreply@robinhood.com
…and TikTok’s long talk with Congress as a possible US ban loomsDisclosures Googling Bard or Bard...