- __[Throwback](https://snacks.robinhood.com/newsletters/jtHnqwq8xydDjbgiulBNB/articles/52RH4YD9VAEjyTWHTDlDNR/):__ Time to limber up: __[Nintendo](https://robinhood.com/stocks/NTDOY)__ is reviving its old “Wii Sports” game for its newer Switch console, banking on the appeal of lo-fi, motion-controlled nostalgia over ultra-immersive AR.
- __[Sneaky-flation](https://snacks.robinhood.com/newsletters/jtHnqwq8xydDjbgiulBNB/):__ Companies are getting creative in handling inflation: __[Pepsi’s](https://robinhood.com/stocks/PEP)__ shrinking packaging to mask price hikes, __[GM’s](https://robinhood.com/stocks/GM)__ ditching heated seats, and __[Hilton’s](https://robinhood.com/stocks/HLT)__ nixing daily housekeeping. 
- __[Upstream](https://snacks.robinhood.com/newsletters/aHxrhlzudIs7bopZbJSGR/articles/jw8WzXcTXZhgCC7cyV676/):__ __[Warner Bros. Discovery](https://robinhood.com/stocks/WBD)__ is Hollywood’s newest streaming heavyweight: after last week’s $43B media merger, HBO hits like “Euphoria” and Discovery classics like “Shark Week” are under the same roof.

ICYMI

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 shareholders voted resoundingly in favor of CEO Elon Musk’s $1 trillion pay package last week, with...

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Claire Yubin Oh

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Tom Jones

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Max Knoblauch

Business

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David Crowther

Managing Editor | Founder of Chartr

 reported sales a bit shy of estimates along with a modestly smaller-than-expected loss. For Q3, the...

 is little changed in after-hours trading after posting Q3 results a bit ahead of estimates. The on-...

__Open-mic night in the metaverse...__ where the drinks are virtual and the comedians can only roast your avatar. But if the comedy club wants to sell merch or tickets, they'll have to give __[Meta](https://robinhood.com/stocks/META)__ a huge cut. Last week Meta became the largest company to unveil its metaverse-monetization plans. Facebook’s parent [will charge](https://www.reuters.com/technology/meta-take-nearly-half-sales-made-by-its-metaverse-creators-fees-2022-04-13/) creators a 47.5% fee on sales of digital goodies and experiences sold through its VR platform, Horizon Worlds. Some background:

- __Horizon Worlds__ is *kind of* like the App Store, but in 3D (because we're not removed from reality enough already). You need its $300 Oculus VR headset to access it.
- __Instead of apps__ made by programmers, there are “worlds” created by everyday users (think: building a Sims house). And you can hop between worlds.
- __Avatars play and socialize__ in VR. Imagine: Latin dance clubs and games where all players can hear each other (feat. [screaming kids](https://youtu.be/zVWC1tnClSw?t=157)). 
- __Meta released Horizon Worlds__ in December after years of positioning it as a metaverse building block and says it has 300K users so far. 

__Back to met-onetization…__ Meta’s decision to take nearly half of creators’ sales is raising eyebrows. It’s significantly more than __[Apple’s](https://robinhood.com/stocks/AAPL)__ infamous 30% “App Tax” on in-app purchases and downloads, which Zuck himself has criticized. It’s also more than NFT platforms like __Sandbox__, __Decentraland__, and __OpenSea__ get — they take between 2% and 5%. 

- __Horizon’s “creators”__ include regular people as well as corporations like Wendy’s and its “[Wendyverse](https://www.thedrum.com/news/2022/03/30/wendy-s-unveils-wendyverse-within-meta-s-horizon-worlds).” Meta [said](https://www.oculus.com/blog/testing-new-tools-for-horizon-worlds-creators-to-earn-money/) it’ll test new ways to sell digital accessories and access to exclusive spaces (like: influencer AMAs).

Brb, creating my metaverse (Miguel Candela/Anadolu Agency via Getty Images)

MetaMoney

__If you build it, they might *not* come…__ Meta’s putting the cart before the virtual horse. For years Facebook put off monetizing through ads, prioritizing growth over $$. As J. Timberlake [put it](https://youtu.be/k5fJmkv02is?t=100) in “The Social Network”: “You don’t even know what the thing is yet.” Meta’s trying to profit from Horizon before it takes off, and has already invested $10B in its meta-vision — but it’s still TBD whether consumers will spend $300 on bulky headsets to hang there.

Meta reveals its hefty metaverse-monetization plans, taking a bold risk that could alienate “creators”

__Crypto in the capitol(s)…__ While the federal government debates how to regulate cryptocurrencies, lobbyists are taking a state-by-state approach. Pro-crypto lawmakers in states like Florida have passed bills that make it easier for the industry to operate. Already this year 150+ crypto-related bills have been proposed in 40 states. But on the federal level, the Biden admin [thinks](https://www.wsj.com/articles/washington-debates-cryptocurrency-rules-with-sights-set-on-stablecoins-11649588581) stablecoins (pegged to currencies like the USD) could be the real jumping-off point for digital-currency regulation.

__The new silver and gold…__ are lithium and cobalt, the crown jewels of the electric-vehicle biz. The metals are essential to EV batteries, and their prices are soaring: In the past decade cobalt prices have 3X’d and lithium prices have *18X’d*. Now carmakers are securing supply. Last week, __[Ford](https://robinhood.com/stocks/F)__ reportedly [bagged](https://www.wsj.com/articles/gm-strikes-deal-to-secure-cobalt-for-electric-car-batteries-11649775349) a deal with extraction startup __Lake Resources__ to pull lithium from Argentina, while __[GM](https://robinhood.com/stocks/GM)__ teamed up with mining giant __[Glencore](https://robinhood.com/stocks/GLNCY)__ to nab cobalt from Australia. But supplies are still so low that __[Tesla’s](https://robinhood.com/stocks/TSLA)__ considering [mining](https://www.cnbc.com/2022/04/08/elon-musk-telsa-may-have-get-into-mining-refining-lithium-directly.html) its own metals.

Zoom Out

Stories we’re watching...

__The road to net zero...__ This Earth Day (Friday) high oil prices and the war in Ukraine have boosted global interest in energy independence and sustainability. One option gaining steam: nuclear energy. Last week South Korea (one of the largest fossil-fuel importers) [reversed](https://www.ft.com/content/6329e02a-d3e9-4812-9062-d5fda8ad7c61) plans to phase out its nuclear projects. In the US, President Biden has already committed $1B to nuclear investments and research. Shares of some uranium companies like __[NexGen](https://robinhood.com/stocks/NXE)__ and __[Uranium Energy](https://robinhood.com/stocks/UEC)__, which make the fuel for nuclear power plants, have more than doubled.

__Up in the air...__ It’s a pesky paradox for US airlines: flight demand for everything from domestic beach weekends to European tours is soaring heading into the summer travel season. But so are airlines’ operating [costs](https://www.reuters.com/business/aerospace-defense/us-airline-demand-costs-soaring-earnings-kick-off-2022-04-12/), like labor and fuel, which spiked 30% over the past month. Airlines have [raised](https://www.wsj.com/articles/airfares-jumped-nearly-11-in-march-from-prior-month-11649803255) fares in a push for profitability, but so far, vacay-hungry fliers don’t seem deterred. __[Delta](https://robinhood.com/stocks/DAL)__ said last week that it became profitable again in March. We’ll see if __[United](https://robinhood.com/stocks/UAL)__, __[American](https://robinhood.com/stocks/AAL)__, and __[Spirit](https://robinhood.com/stocks/SAVE)__ follow suit when they report this week.

Events

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Meta reveals hefty metaverse-monetization plans, a bold risk that could alienate “creators”

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The average tax refund is set to top $3,400 this year, nearly 14% higher than last year

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