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=E2=80=A6and Meta=E2=80=99s metaver= se still doesn=E2=80=99t have legs (nor do its avatars)
=
 
<= div style=3D"font-family:'Capsule Sans Text', Arial;font-size:13px;font-sty= le:italic;font-weight:400;letter-spacing:-0.1px;line-height:153%;text-align= :center;color:#000000;">

A social safety net on the edge (C.J. Burton/Get= ty Images)

 
<= tr>
Last Week=E2=80=99s Market Moves
 
Dow Jones
29,635 (+1.15%)Bitcoin
$19,114 (-2.14%)
S&= P 500
3,583 (-1.55%)		Nasdaq
10,321 (-3.11%)
Nasdaq
10,321 (-3.11%)
Dow Jones29,635 (+1.15%)S&P 500
3,583 (-1.55%)
Bitc= oin
$19,114 (-2.14%)
=
<= /table>
<= /tr>

Hey Snackers,

Forget Paris Fashion W= eek: America=E2=80=99s next top mullet will= soon be crowned after the =E2=80=9CMane Event=E2=80=9D of the USA Mullet C= hampionship. This isn=E2=80=99t the one that Tyra Banks was rooting for.

The S&P 500 closed down 1.5% after a turbulent week that featured g= rowing recession fears and bummer inflation data (still too high). The VIX = (aka: Wall Street=E2=80=99s =E2=80=9Cfear gauge=E2=80=9D) spiked to over 32= , signaling higher volatility expectations.

Btw... Do you want to start getting Snacks daily? Or prefer = to unsubscribe? Manage your subscription preferences here.

=
Boca
<= /table>
=

Social Security benefits are getting the big= gest bump in 4 decades, but it could cost today=E2=80=99s workers

=

Break out the boozy bingo=E2=80=A6 = Retirees are getting the biggest boost to their Social Security benefits in over four decades. Starting in January, all Social Security recip= ients will get a record 8.7% bump, bringing= the monthly payouts to just over $1.8K. Every year the US government adjus= ts Social Security benefits to keep up with the cost of living (see: COLA). Despite a nearly 6% increase in COLA bene= fits this year, the payout hasn't kept up with inflation.

  • Nearly = 70M Americans receive SS benefits, and nearly a quarter of recipie= nts 65+ rely on those checks for most of their income.
  • Since 1937 nearly every American worker= (and their employer) has been required to pay Social Security taxes (taken= from every paycheck).
  • The c= urrent tax rate for people making under $147K is 6%. TBD if that= =E2=80=99ll eventually rise because of the bump. Starting next year, the ma= x amount of earnings subject to SS tax will increase to $160K from $147K.

Goodbye, Boca timeshare=E2=80=A6 The extra cash= should be a welcome relief to inflation-strained retirees, since Americans= are burning through their savings. Last year, the cost of one of Medicare&= #39;s most popular coverage plans went up 14.5% to $170/month. Since most o= lder adults opt to have those costs deducted from their SS checks, it leave= s them with less $$. Meanwhile, nearly $3T has been wiped from Americans= 9; retirement accounts (think: 401(k)s, Roth IRAs) as stocks have tumbled t= his year.

THE TAKEAWAY

Not all benefits are created equal=E2=80=A6 W= hile a bigger check is a win for retirees, it could come at the expense of = current workers and future retirees. Gen Zers are starting to save for retirement earlier than previous generations, and they have good rea= son to: the Social Security Trust Fund (which pays out retiree benefits) is= projected to run dry in 2034, leaving enough money to cover only 77% of sc= heduled benefits.

<= !--[if mso | IE]>
 
<= /tr>
<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Events
<= /td>
<= /table>
=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Coming up this week...

All eyes on Netflix=E2=80=A6 but everyone=E2=80=99s bingeing Tuesday=E2= =80=99s earnings, not =E2=80=9CDahmer.=E2=80=9D After losing 1M+ subscriber= s over the past two quarters, Netflix plans to launch a $7/month ad-supported = tier next month to revive growth =E2=80=94 just weeks before Disney+ plans to launch its own= cheaper tier. The commercials, which should average four to five minutes p= er hour, will cost advertisers big $$ and run on Microsoft tech. Meanwhile, Netflix=E2=80=99s $20B of = original-content spending this year could cut into earnings: it expects pro= fits to dip 34% this quarter from last year.

All charged up= =E2=80=A6 Tesla was on a roll last quarter. The EV icon delivered a record 343K vehicle= s (up 45% from last year) and analysts say it'll likely report $22B+ i= n third-quarter revenue on Wednesday (which would be up 63%). The accelerat= ors: Tesla hiked prices on all models last quarter, upped production at its= Berlin factory, and is ramping up in Shanghai. The speed bump: the record = deliveries were below expectations, and there=E2=80=99s a chance E= lon=E2=80=99s baby won=E2=80=99t meet its annual target because of logistic= al snags and high delivery costs.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Zoom Out
<= /table>
=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Stories we=E2=80=99re wat= ching...

The metaverse doesn=E2=80= =99t have legs=E2=80=A6 literally. Meta has spent $15B+ on its metaverse, but Horizon Worlds ha= d only about 300K users as of February, and its avatars still don= =E2=80=99t have legs. Last week Meta dropped a leg teaser =E2=80=94 but admitted it was made using m= otion capture (read: fake digi-legs). Meta also launched a $1.5K VR headset= and a Microsoft remote-work partnership (think: metaverse Excel). But meta= -investments are expected to lose $$ for years. Meta=E2=80=99s cutting staf= f as growth slows (a first), and shares are down 60%+ this year. Zuck put i= t best: =E2=80=9CLegs are hard.=E2=80=9D

The gig is up=E2=80= =A6 On Tuesday the US Labor Department announced a proposal that could classify milli= ons of gig workers (think: delivery drivers, janitors, and home-care aides)= as employees rather than independent contractors. The final rule is expect= ed next year and would likely boost gig workers=E2=80=99 pay and benefits, = while hurting the gig-dependent biz models of companies like Uber, Lyft, and DoorDash. And unlike California=E2=80=99s AB5 bill,= this rule would have consequences nationwide.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">ICYMI
= <= /table>

Last week's highlights.= ..

  • Spicy: September inflation was up a hotter-than-expecte= d 8.2% from last year as consumers kept spending through price hikes. That = dashed hopes that the Fed might soon simmer down with its aggro rate hikes.=
  • TikShock: A BBC investigation found that = TikTok has been profiting from charitable live streams, re= portedly pocketing up to 70% of donations to displaced families in Syria. T= ikTok is no stranger to accusations of sketchy practices.
  • Ricall: Amazon-backed electric-truck maker Rivian said it was recalling 12K cars (nearly al= l the EVs it=E2=80=99s ever built) over safety concerns. While the recall i= sn=E2=80=99t likely to dent Rivian=E2=80=99s coffers, it=E2=80=99s hurting = its nascent rep.

What else we're Snackin'
  • Yeikes: Adidas is reviewing its partnersh= ip with Kanye West=E2=80=99s Yeezy brand after he went on an antisemitic Twitter rant and wore a =E2= =80=9CWhite Lives Matter=E2=80=9D shirt. Yeezy generates 10% of Adidas'= annual revenue.
  • NEOM: Saudi Arabia sentenced three in= digenous men to death for refusing to leave their homes to make way for Cro= wn Prince Mohammed bin Salman=E2=80=99s $500B NEOM project, which aims to b= e a futuristic zero-carbon city.
  • Blocked: Despite the NFL=E2=80=99s end-zone pledge to = =E2=80=9CEnd Racism,=E2=80=9D Black coaches have been systemically blocked = from head-coaching positions. Nearly 60% of NFL players are Black, but just= 9% of head coaches are.
Want your Snacks daily?
The Daily Newsletter
Get fresh tak= es on financial news every week day. Try a sample:

=F0=9F=8F=96=EF= =B8=8F No inflation vacation =E2=80=A2 Oct 14, 2022
=F0=9F= =92=B8 TikTok's digital gift grab =E2=80=A2 Oct 13, 2022
=F0=9F=93= =B1 The big gig shakeup =E2=80=A2 Oct 12, 2022

Subscribe to the Daily
<= !--[if mso | IE]>
<= tbody>
<= /table>

Snack Fact Of the Day
On average, Americans spen= t $67K last year, up 9% from 2020
<= /table>
This Week
  • Monday: Earnings expected from Bank of America, Charle= s Schwab, and BNY Mellon
  • Tuesday: Earnings expected from Joh= nson & Johnson, Lockheed Martin, Netf= lix, and JB Hunt, United Airlines, Albertsons, Hasbro, and Goldma= n Sachs
  • Wednesday:<= /strong> Earnings expected from Tesla, Procter &am= p; Gamble, Abbott Labs, IBM, Prologis, Equifax, and Las Vegas San= ds
  • Thursday: Jobless claims. Earnings expected from Snap, Am= erican Airlines, Alaska Air, Union Pacifi= c, Boston Beer Company, AT&T= , and Nokia
  • Friday: Earnings expected from Verizon and American Express

Authors of this Snacks own: shares= of Amazon, Tesla, Netflix, Snap, AT&T, Disney, Uber, Boston Beer, Twit= ter, and Microsoft

ID: 2507897

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Robinhood Snacks newsletters= reflect the opinions of only the authors who are associated persons of Rob= inhood Financial LLC (Member SIPC) and do not re= flect the views of Robinhood Markets, Inc. or any of its subsidiaries or af= filiates. They are for informational purposes only, and are not a recommend= ation of an investment strategy or to buy or sell any security, digital ass= et (cryptocurrency, etc) in any account. They are also not research reports= and are not intended to serve as the basis for any investment decision. An= y third-party information provided therein does not reflect the views of Ro= binhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiarie= s or affiliates. All investments involve risk including the loss of princip= al and past performance does not guarantee future results.
To unsubscribe from all commercial emails, click here
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=E2=80=A6and Meta=E2=80=99s metaver= se still doesn=E2=80=99t have legs (nor do its avatars)
= 202;
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A social safety n= et on the edge (C.J. Burton/Getty Images)

 
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Last Week=E2=80=99= s Market Moves
 
Dow Jones
29,635 (+1.15%)		S&P 500
3,5= 83 (-1.55%)		Nasdaq
10,321 (-3.11%)= 		= Bitcoin
$19,114 (-2.14%)
Dow Jones
29,635 (+1.15%)		= S&P 500
3,583 (-1.55%)
Nasdaq
10,321 (-3.11%)		Bitcoin
$19= ,114 (-2.14%)<= /td>
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Hey Snackers,

Forget Paris Fashion Week: America=E2=80=99s next top mullet will soon be crowned after the =E2=80=9CMane Event=E2= =80=9D of the USA Mullet Championship. This isn=E2=80=99t the one that Tyra= Banks was rooting fo= r.

The S&P 500 closed down 1.5% after a turbulent week that f= eatured growing recession fears and bummer inflation data (still too high).= The VIX (aka: Wall Street=E2=80=99s =E2=80=9Cfear gauge=E2=80=9D) spiked t= o over 32, signaling higher volatility expectations.

Btw... Do you want to start getting Snacks daily? O= r prefer to unsubscribe? Manage your subscription preferences here.

3D""
=
Boca
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S= ocial Security benefits are getting the biggest bump in 4 decades, but it c= ould cost today=E2=80=99s workers

B= reak out the boozy bingo=E2=80=A6 Retirees are getting the biggest= boost to their Social Security benefits in over four decades. Sta= rting in January, all Social Security recipients will get a record 8.7% bump, bringing the monthly payouts to just o= ver $1.8K. Every year the US government adjusts Social Security benefits to= keep up with the cost of living (see: COLA). Despite a nearly 6% increase in COLA benefits this year, the= payout hasn't kept up with inflation.

  • Nearly 70M Americans receiv= e SS benefits, and nearly a quarter of recipients 65+ rely on thos= e checks for most of their income.
  • <= strong>Since 1937 nearly every American worker (and their employer= ) has been required to pay Social Security taxes (taken from every paycheck= ).
  • The current tax rate for people making under $147K is 6%. TBD if that=E2=80=99ll eventually= rise because of the bump. Starting next year, the max amount of earnings s= ubject to SS tax will increase to $160K from $147K.

Goo= dbye, Boca timeshare=E2=80=A6 The extra cash should be a welcome r= elief to inflation-strained retirees, since Americans are burning through t= heir savings. Last year, the cost of one of Medicare's most popular cov= erage plans went up 14.5% to $170/month. Since most older adults opt to hav= e those costs deducted from their SS checks, it leaves them with less $$. M= eanwhile, nearly $3T has been wiped from Americans' retirement accounts= (think: 401(k)s, Roth IRAs) as stocks have tumbled this year.

THE TAKEAWAY

Not all benefits are created equal=E2=80=A6 Whil= e a bigger check is a win for retirees, it could come at the expense of cur= rent workers and future retirees. Gen Zers are starting to save for ret= irement earlier than previous generations, and they have good reason to: th= e Social Security Trust Fund (which pays out retiree benefits) is projected= to run dry in 2034, leaving enough money to cover only 77% of scheduled be= nefits.

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<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Events
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Coming up this week...

All eyes on Netflix=E2=80=A6 but everyone=E2=80=99s bingeing Tuesday= =E2=80=99s earnings, not =E2=80=9CDahmer.=E2=80=9D After losing 1M+ subscri= bers over the past two quarters, Netflix plans to launch a $7/month ad-suppor= ted tier next month to revive growth =E2=80=94 just weeks before Disney+ plans to launch its ow= n cheaper tier. The commercials, which should average four to five minutes = per hour, will cost advertisers big $$ and run on Microsoft tech. Meanwhile, Netflix=E2=80= =99s $20B of original-content spending this year could cut into earnings: i= t expects profits to dip 34% this quarter from last year.

All= charged up=E2=80=A6 Tes= la was on a roll last quarter. The EV icon delivered a record = 343K vehicles (up 45% from last year) and analysts say it'll likely report $22B+ in third-quarter revenue on Wednesday (which would be up 63%). The = accelerators: Tesla hiked prices on all models last quarter, upped producti= on at its Berlin factory, and is ramping up in Shanghai. The speed bump: th= e record deliveries were below expectations, and there=E2=80=99s a= chance Elon=E2=80=99s baby won=E2=80=99t meet its annual target because of= logistical snags and high delivery costs.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Zoom Out
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Stories we=E2=80=99re wat= ching...

The metaverse doesn=E2=80= =99t have legs=E2=80=A6 literally. Meta has spent $15B+ on its metav= erse, but Horizon Worlds had only about 300K users as of February, and its = avatars still don=E2=80=99t have legs. Last week Meta dropped a le= g teaser =E2=80=94 b= ut admitted it was made using motion capture (read: fake digi-legs). Meta a= lso launched a $1.5K VR headset and a Microsoft remote-work partnership (th= ink: metaverse Excel). But meta-investments are expected to lose $$ for yea= rs. Meta=E2=80=99s cutting staff as growth slows (a first), and shares are = down 60%+ this year. Zuck put it best: =E2=80=9CLegs are hard.=E2=80=9D

=

The gig is up=E2=80=A6 On Tuesday the US Labor Departme= nt announced a proposal that c= ould classify millions of gig workers (think: delivery drivers, janitors, a= nd home-care aides) as employees rather than independent contractors. The f= inal rule is expected next year and would likely boost gig workers=E2=80=99= pay and benefits, while hurting the gig-dependent biz models of companies = like Uber, Lyft, and DoorDash. And unlike California=E2=80=99s AB5 bi= ll, this rule would have consequences nationwide.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">ICYMI
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Last week's highlights.= ..

  • Spicy: September inflation was up a hotter= -than-expected 8.2% from last year as consumers kept spending through price= hikes. That dashed hopes that the Fed might soon simmer down with its aggr= o rate hikes.
  • TikShock: A BBC investigation fou= nd that TikTok has been profiting from charitable live str= eams, reportedly pocketing up to 70% of donations to displaced families in = Syria. TikTok is no stranger to accusations of sketchy practices.
  • Ricall: = Amazon-backed electric-truck maker Rivian said it was recalling 12K cars (nea= rly all the EVs it=E2=80=99s ever built) over safety concerns. While the re= call isn=E2=80=99t likely to dent Rivian=E2=80=99s coffers, it=E2=80=99s hu= rting its nascent rep.

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What else we're Snackin'
  • Yeikes: Adidas is reviewing its partnersh= ip with Kanye West=E2=80=99s Yeezy brand after he went on an antisemitic Twitter rant and wore a = =E2=80=9CWhite Lives Matter=E2=80=9D shirt. Yeezy generates 10% of Adidas&#= 39; annual revenue.
  • NEOM: Saudi Arabia sentenced three indigenous men to death= for refusing to leave their homes to make way for Crown Prince Mohammed bi= n Salman=E2=80=99s $500B NEOM project, which aims to be a futuristic zero-c= arbon city.
  • Bl= ocked: Despite the NFL=E2=80=99s end-zone pledge to =E2=80=9CE= nd Racism,=E2=80=9D Black coaches have been systemically blocked from head-= coaching positions. Nearly 60% of NFL players are Black, but just 9% of hea= d coaches are.
=
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The Daily Newsletter<= /td>
Get f= resh takes on financial news every week day. Try a sample:

=F0=9F= =8F=96=EF=B8=8F No inflation vacation =E2=80=A2 Oct 14, 20= 22
=F0=9F=92=B8 TikTok's digital gift grab =E2=80=A2 Oct 13, = 2022
=F0=9F=93=B1 The big gig shakeup =E2=80=A2 Oct 12, 202= 2

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Snack Fact Of the Day
On average, Americans spen= t $67K last year, up 9% from 2020

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This Week
  • Monday: Earnings expected from Bank of America, Charle= s Schwab, and BNY Mellon
  • Tuesday: Earnings expected from Joh= nson & Johnson, Lockheed Martin, Netf= lix, and JB Hunt, United Airlines, Albertsons, Hasbro, and Goldma= n Sachs
  • Wednesday:<= /strong> Earnings expected from Tesla, Procter &am= p; Gamble, Abbott Labs, IBM, Prologis, Equifax, and Las Vegas San= ds
  • Thursday: Jobless claims. Earnings expected from Snap, Am= erican Airlines, Alaska Air, Union Pacifi= c, Boston Beer Company, AT&T= , and Nokia
  • Friday: Earnings expected from Verizon and American Express

Authors of this Snacks own: shares= of Amazon, Tesla, Netflix, Snap, AT&T, Disney, Uber, Boston Beer, Twit= ter, and Microsoft

ID: 2507897

Robinhood Snacks newsletters= reflect the opinions of only the authors who are associated persons of Rob= inhood Financial LLC (Member SIPC) and do not reflect= the views of Robinhood Markets, Inc. or any of its subsidiaries or affilia= tes. They are for informational purposes only, and are not a recommendation= of an investment strategy or to buy or sell any security, digital asset (c= ryptocurrency, etc) in any account. They are also not research reports and = are not intended to serve as the basis for any investment decision. Any thi= rd-party information provided therein does not reflect the views of Robinho= od Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or = affiliates. All investments involve risk including the loss of principal an= d past performance does not guarantee future results.
To unsubscribe from all commercial emails, c= lick here
=
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