(Sascha Steinbach/Getty Images) |
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Voice-cloning companies are putting long-deceased celebs like Judy Garland and Burt Reynolds to work narrating books and reading tax returns. Thanks to AI, not even death's an escape from the grind. The S&P 500 closed at a record high yesterday for the first time since July, after Wednesday's jumbo rate cut. Bitcoin and ethereum traded higher, too, as investors seemingly upped their appetite for "risk-on" assets. 💼 Return to quizfice: You might be back in the office, but thankfully our Snacks Seven quiz can be taken anywhere. Give the first q a go: |
- Which Big Tech co ordered its corporate employees to return to the office five days a week? (Check your answer.)
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Long cutscene… For the first time in eight years, EA Games hosted an analyst meeting this week, and the largest standalone game publisher's stock slipped after it left investors wanting concrete financial updates. EA avoided specifics but said it planned to double its audience to 1B+ over the next five years. The "NBA Live" publisher also didn't peg down a date for its anticipated "Battlefield" sequel. Yet it didn't leave gamers completely empty-handed: |
- AI NPCs: EA announced it has 100+ active AI projects, including game-development tools that can generate characters and scenes. "Sims 4" players will be able to use AI-powered image search to find assets like outfits and houses.
- Barbie Sim: While "The Sims" won't be getting a fifth installment, there'll be updates, expansions, and a movie (with Amazon's MGM and Margot Robbie's production co).
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Sorry, completionists… modern games are often impossible to 100%, and it's by design. Games have longer shelf lives than ever: "The Sims 4," released a decade ago, has 85M players — 4x as many as it had in 2020. EA is raking in the simoleons: three-quarters of its annual net bookings come from "live services" like in-game purchases (a $7 knitting kit for your Sim). To that end, EA will start selling user-generated content in "The Sims 4," taking a page from Roblox. It's also debuting an EA Sports app to engage players of hit games like "Madden NFL." |
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It's easier to play from a save point… New games can cost hundreds of millions to develop, and a flop can be a big financial hit. Sony pulled its recent shooter game "Concord" from stores after two weeks, when the ~$100M game was estimated to have sold fewer than 25K copies (whereas "Call of Duty" games sell millions). Rolling out new titles is risky, which is why EA might want to save its progress with "The Sims 4." |
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The Biggest Disruption to IP since Disney? |
History is being made in the $2T1 global entertainment & media industry and you can get a piece by investing in Elf Labs — but only for a limited time.2 With over 100 historic trademark victories, Elf Labs owns rights to some of the highest-grossing characters in history, including Cinderella, Snow White, Little Mermaid, and more. These icons have generated tens of billions in merchandise revenue alone, since their inception. Now, Elf Labs is revolutionizing these characters with patented next-gen technology, including AR, VR and advanced compression algorithms for an unprecedented level of immersion. From virtual reality — without headsets — to AI-powered talking toys, this may be the biggest disruption to IP since Disney. Become an Elf Labs shareholder before Sept. 27th and get 5% bonus shares.3 Check out more exclusive investor perks here!4 |
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The Biggest Disruption to IP since Disney? |
History is being made in the $2T1 global entertainment & media industry and you can get a piece by investing in Elf Labs — but only for a limited time.2 With over 100 historic trademark victories, Elf Labs owns rights to some of the highest-grossing characters in history, including Cinderella, Snow White, Little Mermaid, and more. These icons have generated tens of billions in merchandise revenue alone, since their inception. Now, Elf Labs is revolutionizing these characters with patented next-gen technology, including AR, VR and advanced compression algorithms for an unprecedented level of immersion. From virtual reality — without headsets — to AI-powered talking toys, this may be the biggest disruption to IP since Disney. Become an Elf Labs shareholder before Sept. 27th and get 5% bonus shares.3 Check out more exclusive investor perks here!4 |
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Better safe than sorry?... The Fed boldly kicked off its easing cycle, serving up a 50-basis-point rate cut. But Chair Jerome Powell cautioned against expecting more jumbo slashes. At the central bank's remaining meetings this year, monetary policymakers expect to cut 50 more basis points combined if the economy unfolds as anticipated. So why'd the Fed go big this week? |
- Stressin' about the labor market: The median monetary policymaker thinks that unemployment (now at 4.2%) will be at 4.4% at the end of this year and next, worse than previously expected.
- Stressing less about inflation: "The Committee has gained greater confidence that inflation is moving sustainably toward 2 percent," the Fed said.
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All you need is confidence… and Americans don't have much of it right now (not great since consumer spending = two-thirds of the US economy). While consumer sentiment perked up last month, it's still at historically weak levels. But with inflation and rates finally starting to come down, a vibe shift may be in the cards. |
- Gas prices and stock prices play a key role in how Americans feel about the economy and their finances (aka "consumer sentiment"). Gas prices have been coming down and stocks have been going up, which should bode well for sentiment (the next report arrives on Tuesday).
- Another bright spot: US retail sales unexpectedly rose last month, fueled by online shopping strength.
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It's not where you are; it's where you're headed… True in life, true in consumer sentiment, true in markets. Stocks are at record highs not because of where the US is but because of where traders think it's going. Ditto for consumer sentiment: last month, consumers' median year-ahead inflation expectation fell to the lowest level since 2020. |
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The US is experiencing a historic boom in small-business formation, one that VP Kamala Harris hopes to boost with her recently announced plan. Read more. |
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🤖 Techy… In a challenge to Polymarket, crypto market maker Wintermute is launching a prediction market that'll take US-election bets. Meantime, US regulators are trying to block election betting, arguing it could damage voters' faith in results. 🤹♀️ Quirky… Former Prez Trump hit up a bitcoin-themed bar in NYC and used the OG crypto to buy a burger. His latest overture to the crypto constituency came as some in the industry questioned the DeFi project he's promoted. 🪙 Coins… Ripple said it's poised to launch its own stablecoin as it seeks to enter the high-margin industry. The market's getting crowded as crypto-native firms, fintech titans, and even the state of Wyoming tee up their own stables. |
- Boeing is furloughing thousands of white-collar employees to cut costs, while 33K of its workers are on strike.
- An FTC study said that social cos like Meta, YouTube, and TikTok engaged in "vast surveillance" of their users.
- A judge ruled that the Biden admin's plan to forgive 25M Americans' student loans will remain blocked for another two weeks.
- For the first time, Olive Garden's teaming up with a third party (Uber Eats) for breadstick and pasta delivery.
- AMC, Regal, and Cinemark said they'd spend $2.2B on theater upgrades as the box office springs off a summer surge.
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Authors of this Snacks own bitcoin and ethereum and shares of: Alphabet, Amazon, and Uber Correction: In yesterday's Snacks we misstated that Alaska Airlines in 2016 had acquired Virgin Atlantic, but it was Virgin America. We regret the error. |
Advertiser's disclosures:
1 PWC Perspectives from the Global Entertainment & Media Outlook 2024–2028: Seizing growth opportunities in a dynamic ecosystem, July 2024. 2 The end date of this offering is April 1, 2025. 3 A minimum investment of $732.00 is required to receive the 5% bonus shares. 4 This is a paid advertisement for Elf Labs' Regulation CF Offering. Please read the offering circular and related risks at elflabs.com. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. |
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
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