Hey Snackers,
Kroger saw Chick-fil-A’s plan to launch its own streaming service and said hold my reusable bag. The grocery chain is offering Disney streaming subs to members of its paid delivery service. How much “Bluey” can keep shoppers away from Walmart?
The S&P 500 closed at a record high yesterday, driven by gains in tech and cruise lines. After the Fed’s September-meeting minutes dropped, traders were betting on a 20% chance of no rate cut next month. Q3 earnings szn kicks off tomorrow with big banks reporting.
🎙️ Pod to go: Our new weekly podcast, “Snacks Mix,” just dropped its second episode. Tune in on Spotify or Apple Podcasts for fresh takes on Google’s potential breakup, TikTok’s lawsuits, and more of the biz news you need to know.
America’s bracing for devastation and disruption from Hurricane Milton
Making landfall… Hurricane Milton, designated a Category 3 or 4 hurricane as of yesterday, was expected to start hitting Florida last night. The National Weather Service called Milton “a historic storm” that could be Tampa’s worst weather event in over a century. Millions of people were urged to evacuate. Florida Gov. Ron DeSantis put 51 counties under a state of emergency, advising them to stock up on food and supplies.
Some communities in Hurricane Milton’s path are still recovering from Hurricane Helene, which hit southern states two weeks ago, killing more than 230 people. Economic losses, including extensive property damage, could be as high as $110B.
In preparation… Airlines canceled hundreds of Florida flights, after adding flights earlier this week to preemptively ferry Floridians away. American, Delta Air Lines, United, and Southwest Airlines also waived change fees. On the seas, Royal Caribbean and Carnival rerouted cruise ships. And on Interstate 75, between Georgia and Florida, traffic nearly quadrupled as people evacuated. About a quarter of the state’s gas stations were said to have run out of fuel. Meanwhile, Disney, Universal, and SeaWorld shut down their Florida parks, and Waffle House closed all its Tampa locations.
Policies: Insured losses could be as high as $150B if the storm directly hits Tampa. Property owners have already been edged out of increasingly expensive policies in disaster-prone states, and some home insurers have ditched the risky markets.
The forecast is harrowing… Of all of America’s weather-related disasters, tropical cyclones and hurricanes have caused the most damage in recent history. Since 1980, major tropical cyclones and hurricanes have killed 7K people and caused over $1.3T in damage. Weather-related disasters are becoming more frequent and more severe as residents and businesses struggle to remain resilient in the hardest-hit areas.
Could this be the biggest disruption to smartphones in the past 15 years? 📲
💥Heads up! There's a new disruptor in smartphones: Mode Mobile. Mode can turn your phone from a cost into an income source — and investors are watching the launch of the company’s pre-IPO offering.1
🤳Mode saw 32,481% revenue growth from 2019 to 2022, ranking them the #1 overall software company on Deloitte’s most recent fastest-growing companies list. Mode’s flagship product EarnPhone, a budget smartphone, has already helped consumers earn & save $325M+.
🫴 Mode’s Pre-IPO offering1 is live at $0.25/share — 20,000+ shareholders already participated in its previous sold-out offering. There’s still time to get in on Mode’s pre-IPO raise and even lock in 100% bonus shares2… but only until their current raise closes for good. Claim this exclusive bonus while you can!3
An HBO doc trying to ID bitcoin’s creator falls flat as Satoshi’s $69B stash stays put
Pullin’ back the mask… and not finding much. The crypto world was abuzz after the Tuesday-night airing of an HBO documentary hyped as revealing the identity of bitcoin’s pseudonymous creator, Satoshi Nakamoto. The film, “Money Electric: The Bitcoin Mystery,” used circumstantial evidence to point to 39-year-old Canadian software developer Peter Todd. Todd denied on X that he created the OG crypto and called the idea “ludicrous” during his interview in the doc. The bitcoin community largely dismissed the film’s conclusion.
Bet’s off: Before the doc aired, folks wagered who it would identify as Satoshi on the crypto-based prediction site Polymarket. Todd wasn’t even a listed option.
Not me-mecoin: Traders hoping to strike it big had launched meme coins tied to possible Satoshi candidates, focusing on deceased “cypherpunk” Len Sassaman.
The $69B stash… Folks have been trying to unmask the mysterious Satoshi for years, and not just for fun. There are potentially major market consequences to the bitcoin creator’s real identity, and to the question of whether they’re still alive. That’s because before Satoshi went quiet, in 2011, they mined an estimated 1.1M BTC. At current prices, that’s worth about $69B and represents 5% of the crypto’s total supply. If Satoshi returned and decided to dump those coins, it could (at least temporarily) tank the price of bitcoin.
The so-called Satoshi coins are viewable on the blockchain and have never moved.
Mystery is valuable… The crypto community was unconvinced by “Money Electric,” leaving the question of Nakamoto’s true identity unanswered. The markets appeared fine with that, as the price of bitcoin remained mostly flat following Tuesday’s airing. But the price of a newly launched meme coin tied to Todd spiked.
What else we’re Snackin’
The DOJ said it might recommend that courts break up Google’s core businesses, separating search from Chrome and Android.
Indeed said that seasonal job searches were up 18% from last year, with holiday work competition heating up in a slower hiring market.
Chinese ecomm titan Temu is offering $4 remote controls that work with Amazon’s Fire TV device (and rival its $25 remote).
Home Depot will require its corporate employees to work a full day shift at one of its retail stores each quarter.
Talks between Boeing — which has delivered 22% fewer planes so far this year — and its 30K+ striking US workers have broken down.
Apple’s recent $3T valuation has spurred a series of impressive raises among smartphone innovators — and ModeMobile’s pre-IPO offering¹ is no exception. It’s now live at $0.25/share — lock in up to 100% bonus shares² while the raise lasts.³
Snack Fact of the Day
In the past decade, Miami’s millionaire population has grown by 75%
Thursday
Consumer Price Index
Weekly jobless claims
Tesla expected to debut a robotaxi concept car
Earnings expected from Tilray, Delta, and Domino’s
Authors of this Snacks own bitcoin and shares of: Alphabet, Amazon, Delta, Disney, and Walmart
Advertiser's disclosures:
¹ Mode Mobile currently has no formal plans for an IPO.
² A minimum investment of $1,950 is required to receive bonus shares. 100% bonus shares are offered on investments of $9,950+.
³ Please read the offering circular and related risks at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.
Past performance is no guarantee of future results. 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.