Hi bb! Cheres is making it rain 💦 We're growing & want you to join the team! 👪 Interest rates are going up sooner than expected 🧸 Wayfair is way down 🪑 

In other news…Meta's New Year's Eve concert was a flop 💫 A chance to win $220 when you sign up to give us Beta app feedback 💸

Interest rates are going up and what it all means…

We've learned to walk in slowly, quietly, slightly tippy-toeing into a new year. While some of us are screaming ‘BING BONG’, 💥 others are more on the other end of the referenced TikTok thinking “sup baby, take me out for dinner." Ultimately, reserved or not, we're all waking up in 2022 hoping for a free lunch. 

As Barron's describes: “Stocks fell Wednesday after the meeting minutes from the last FOMC (Federal Open Market Committee) confirmed that the Federal Reserve will begin raising interest rates as its own concerns about inflation grow.”

All major indexes dropped from Dow Jones (1.1%), S&P 500 (1.9%), and tech-heavy Nasdaq Composite (3.3%), and it had us bringing back macro-eocnomic principles back. If interests rates go up, what does it mean for our investments and general day to day? 

• 🧑‍💻 Tech stocks are down: Future profits are less valuable when interest rates rise, and most tech firms are counting on big profits many years down the line

• 💙 Funemployed: ADP said the U.S. economy added 807,000 jobs in December, more than doubling expectations. If there's more employment, wages increase. The opposite is true making it a reverse correlation relationship. The Employment report will be crucial to understanding when the Fed should raise interest rates.

• 💸 No free money: When interest rates go up, it's more expensive to borrow money or take out loans. Mortgages are more expensive, the cost of doing business goes up, and future values and revenues of public companies goes down.

As the era of ‘free money’ comes to an end, the big question at hand is how we'll adapt. History repeats itself, but new emerging technologies and behaviors have radically changed. Are we soon entering a bear market? 🧸 Likely sooner than expected. Is it time to manage & track investments 💸 Always, bb! 

The day has come. We are officially growing the team and expanding with exciting opportunities spanning product experience design, engineering and community & social content. We want to offer our community - you - first dibs in reaching out.

Quick News Bites

Win $220 by giving us ‘Baeta’ app feedback

We're feeling 22! So much so that we're kicking off the year by offering you the chance to win $220 by sharing Cheres app feedback. We're making insane changes and wanna get your input. 

Here's the process:

• 📧 Reply to this email with your name, age, # of brokerages + crypto wallets you have, and how you currently track your investments

• 🧑‍💻 We'll set up a 30-min Zoom meeting with you to chat in the next few days

• 💸 You'll automatically be added to the raffle with winners announced shortly!

Wayfair is way down

Wayfair Inc. shares tanked by 10% on Wednesday after a Wedbush analysis of customer data drove a downgrade of the stock to mehhhh from “you're doing amazing, sweetie”. It slashed its price from $160 from $290. 🚩🚩🚩 Whether you wanna call them yellow or red flags, analysts said there's been a long wave of ‘em given metrics (net new customers, orders per customer). For those thinking it’s the pandy - think again. Metrics have been trending below pre-COVID levels. 

Meta's New Year's Eve concert was a flop

Friends, Metaversans, countrymen, lend me your ears. Meta (aka Facebook) had a New Year's Eve 🎉 concert a couple days ago and as you can predict (because ummmm none of us knew about it), didn't do so well. That or we were too busy cringing / dying over Andy Cohen's NYC ball drop “victory lap dance” speech on live TV. Young Thug, David Guetta, and The Chainsmokers performed and the views got progressively worse. The latter performance brought less than 100K forcing Meta to remove it. 😬 While we don't know what it means for Meta this early in the game, we know user acquisition ain't as easy as ‘free concerts’. 

Jobs 🎈

• 🛠 Senior Mobile Engineer - (NYC preferred, remote ok)

• 🎨 Lead Product Designer - (NYC preferred, remote ok)

• 🤳 Community Manager & Social Media Content - (NYC)

Check out our job board for more opportunities and information here.