Hi bb! Trying to get into Art Basel? 🌴 Another one bites the Cheeto dust. 🐅 Black Friday flashes back to 1931's Black Tuesday. 📉

In other news…Bitcoin is trending in the NFL 🏈 thanks to CashApp. Meta is losing the popularity contest with Gen Z. 💫 Cheres' secret location IRL meetup for web 2.0 & 3.0 in NYC gets sold out. Skip the line and RSVP for the next one. 🎟

Black Friday looked more like Black Tuesday from 1931…

Last year, we were adding tie dye loungewear, abnormal amounts of groceries, wine, and pelotons to our ecomm carts, while…this year we were…well the insights got a bit tainted. Black Friday got derailed by the Omi news. Sus?

So as Omicron made its grand entrance [seriously, who's in charge of these debutants?!], it took the Dow Jones down to its worst Black Friday selloff since the '30s. 📉 Big D, S&P 500, and Nasdaq indices plunged into a pre-Turkey Day panic, each slipping more than 2% in some of the worst seen pre-holiday volatility since 1931.

While history repeats itself, it seems like we never learn the lesson. As the new variant waved ‘gm’, a surge in panic buying in the bond market led to the biggest drop in long-term yields since the premiere of the pandemic in March 2020. 💸

Streaming stocks like Netflix 🍿 managed alright despite the market drop, while movie theatre chains 📽️ and major airlines ✈️ saw a bigger slip thanks to COVID anxiety. Not so house of Gucci, are we? 😔 Despite the scare, data seems to show that the markets are “so over” the pandemic hype [yeah, I mean can we all just chill - history repeats itself and history was just 1.5 years ago ppl!]. Travel and leisure sectors are returning, and no one really wants to hear about Zoom anymore. The Dow's been up 12% in 2021 and the Nasdaq feeling the beat of the tambourine at 17%.

On Friday, December 3rd, around 7pm EST, we're curating an exclusive meetup in a secret location in NYC, at the intersection of web 2.0 & 3.0. If you didn't secure an RSVP, fear not…click on ‘Thank U, Next’ and skip ahead the line for the next event. You'll be the first to know & be prioritized ⚡️

Huge thanks to Johnie Yu at Classic Ventures

The Gen Z VC came through to provide a larger space when we got more RSVPs than we had planned for! ❤️

Quick News Bites

Art Basel, investing in the art or 'the hotel life'?

You might as well be looking at both. As we seek “post pandemic” [let's call it that for the sake of the argument, shall we?], experiences, Art Basel pops up. If you're looking to fly down to Miami and attend the parties, we're wishing you more than good luck in getting a room, reso or VIP table. Seriously, good luck because even this money maker can't find their way. “Tables for the night range from $5,000 to $75,000,” Dennis DeGori from megaclub E11Even told Pagesix. “We are basically sold out for the week and we just finalized our talent on Monday. We are seeing guests that are coming into town with an appetite to spend and have a great time. We are also seeing people pay in cryptocurrency.”That last part really got me. Well, say hi to Basel regular Leo DiCaprio for me as I lay in bed eating cheetos thinking about the Twitter takedown. Yes, LL Cool J partnered up with Frito-Lay to make art out of Cheeto dust. Maybe this is the part I admit I'm allergic to Yellow #5 dye. But hey, I'm just here to report the market news, not judge it. 🤷🏿‍♂️

Bitcoin is trending in the NFL

Football x Bitcoin? 🏈 Los Angeles Rams wide receiver Odell Beckham Jr is the latest in a string of NFL players to partner with CashApp to get paid in the $BTC. Beckham spilled the tea on Twitter announcing he would take 100% of his new salary in bitcoin. 💵 His new move to the Rams could make him up to $4.5 million in his one-year contract. Earlier this month, Green Bay Packers legend quarterback Aaron Rodgers also announced that he would be taking a portion of his salary in bitcoin. Not bad for someone who’s said to earn $33.5M a year. 💰

Meta is losing the popularity contest with Gen Z

Facebook has a new name, too bad Gen Z doesn’t care…So, as Zuck loves to do, IG's looking to copy TikTok, to keep up with user trends. We all know video is king, 👑 so after IG killed IGTV, it's focused on streamlining video creation in-platform to make things ~less confusing~. 📺 Videos will be automatically posted as Reels, and visible on users' profiles and followers’ feeds. Stories also got a bump up to 60-seconds, which means users can share Reels to stories, and later view all content in one place. So IG is consolidating its creation tools and prioritizing video content.

Hold up…what am I reading, who are you, and what have you done to my investing knowledge? You're blowing my mind.

BB, chill…I know you want me but get in line.

Cheres is where you can see your friends' trades, prompting the ‘why did you invest’ versus the ‘what are you investing in’ question.

📣 Say goodbye to public threads. Remember that only your small friend group (~5-10 ppl) will see your shares, but not the $ value or volume of shares.

• ⚡️We connect with your brokerage, so you don't have to spend time manually sharing trades with friends via Whatsapp, iMessage, Discord, etc.

• 👯‍♀️Keep up with your multiple friend groups, like your besties, colleagues, and family, by chatting about your investments, AND discovering other investing communities.

• 💵Become a better investor, by connecting with industry experts on the platform across your fave industries.