__Great cuddler, better bundler...__ *Claaassic* Hinge profile of Big Techies, from Apple to Adobe. Since Microsoft Office launched in 1990, software bundles have been the M.O. of tech heavyweights. Bundling = selling multiple services together for one price — generally, lower than they would cost individually. That's bad for smaller companies whose entire biz happens to be.... *one of those services*.

- __[Apple](https://robinhood.com/stocks/AAPL):__  In September, the Fruit [launched](https://snacks.robinhood.com/newsletters/1Y9lIHuvuotRAaGBx13qHH/articles/5EXUwgniIcrgHGoPpU0qe4/) its "Apple One" bundles. The premium tier includes Apple Music, TV+, iCloud storage,  *and* Fitness+ all for $30/month. That's a bundle of bad news for __[Spotify](https://robinhood.com/stocks/SPOT)__, __[Netflix](https://robinhood.com/stocks/NFLX)__, __[Dropbox](https://robinhood.com/stocks/DBX)__, and __[Peloton](https://robinhood.com/stocks/PTON)__ (in that order). 
-  __[Microsoft](https://robinhood.com/stocks/MSFT):__ The Office 365 Suite bundles classics like Word,  Excel, and (more recently) collaboration tool Teams. In July, __[Slack](https://robinhood.com/stocks/WORK)__ stirred up legal [drama](https://snacks.robinhood.com/newsletters/6511HaDUMXpAxjp2bEBL6w/articles/4ETsJdiwVFfNzB1Gt8Ozj0/) since the Teams bundle makes Slack basically unnecessary for companies that use Office. BTW: Slack is now getting purchased by notorious bundler __[Salesforce](https://robinhood.com/stocks/CRM)__ (ironic).

__Sliding into the DMs with that blue chipmark...__ Wall Street flex. "[Blue chip](https://learn.robinhood.com/articles/318gpFhr4GmPG5iUEQFhjd/what-are-blue-chip-stocks/)" tech companies can afford to bundle and undercut competitors on price. Last fiscal year, Microsoft made a massive $44B profit, while Apple took home a whopping $57B. But with great power comes great regulatory scrutiny: In 2020, Big Tech lawsuits and congressional hearings were as common as Baby Yoda memes (and way less cute). *One thing could ease that...*


2021: The Anti-Apple Force Awakens

__We need a "mixed tech" bundle...__ aka: the Anti-Apple Alliance. Smaller tech companies like Netflix and Spotify are successful because they do *one* thing really well — but they risk getting trampled by bundle-hungry Big Techies with way more products. Our wish: Netflix, Spotify, and Peloton partner to bundle their services under one monthly subscription fee. "Mixed tech" bundles could bring best-in-class products together to cement customer loyalty against Big Tech — and save us some $$$. PeloSpotiFlix, anyone?

We wish for "mixed tech" bundles (aka: The Anti-Apple Alliance)

__Different stacks of pancakes...__ Last month, food delivery leader __[DoorDash](https://robinhood.com/stocks/DASH)__ raised ~$3.4B in fresh cash during its IPO. After a splashy public debut on the NYSE, DoorDash now has a hearty [market value](https://learn.robinhood.com/articles/GByCbiOluG2kcWs1AF6m5/what-is-market-capitalization/) of $45B — nearly 3X its June valuation. But while food delivery has it sweet, brick-and-mortar restaurants have been served a different fate:

- __17% of US restaurants have closed__ due to the pandemic. That's more than [500K](https://spectrumlocalnews.com/nys/rochester/news/2020/12/10/nra-restaurants-closed-during-covid-19-congress-) restaurants of every type — from independent, to franchise, and chain — that have gone under.
- __All those closures__ represent millions of jobs lost in the food services industry, which is one of the [largest](https://www.entrepreneur.com/article/362231) employers in the US. 

__Something to Fribble over...__ The list of 2020 food chain bankruptcies is long, from __Ruby Tuesday__, to __Chuck E. Cheese__. Franchise operators weren't immune: __NPC International__, which owns over 1K Pizza Hut and Wendy's franchises, filed in July. __CFRA Holdings__, which runs 50 IHOP locations, went under in May. But bankrpucty doesn't necessarily mean closure...

- __Ice cream legend Friendly's__ [filed](https://www.cnbc.com/2020/11/02/friendlys-restaurants-parent-files-for-bankruptcy-announces-sale.html) for bankruptcy in November and sold itself for just barely $2M — but it's expected to keep nearly all of its 130 locations open. 
- __Sizzler__, which went bankrupt in September, also said it doesn't intend to close locations. *So we had an idea...*


__DoorDash should buy a bankrupt restaurant chain...__ like Friendly's, Sizzler, or even some IHOP locations. DoorDash could rescue the brand, modernize the menu, and create a local delivery/takeout hub. That would give it hundreds of food "distribution centers" in the suburbs, where it thrives — it could whip up classic Friendly's fare, *plus* other goodies for delivery. Instead of charging restaurants like Sizzler fees for each order, DoorDash would be a *member* of the restaurant community. That could transform it from the Big Bad Wolf to the Good Guy of food delivery.

We wish DoorDash would buy and rescue a restaurant chain

__Ubering to the Airbnb...__ and coordinating the Grubhub delivery for check-in — aka: tech saturation Level *Insanity*. __[Uber](https://robinhood.com/stocks/UBER)__ and __[Airbnb](https://robinhood.com/stocks/ABNB)__ have a lot in common: both are popular sharing platforms, both are used as verbs, and both crushed old-school industries (taxis + hotels). 

- __Since launching in 2009,__ Uber has expanded from rides to food delivery with Uber Eats — and it's now buying Postmates. We think it could do more.
- __Since launching in 2008,__ Airbnb has expanded from short-term rentals to long-term stays and "Experiences." Spoiler: we think it could do *way* more.

__5 stars for verb-iness...__ Uber and Airbnb don't actually specialize in rides and stays — their value is safety, convenience, and reliability (and the tech that powers them). Pre-2009, riding in a stranger's car was #1 on the list of things your parents said you shouldn't do. Now, many don't think twice about hopping into one at 1 am. Airbnb has made booking a stranger's condo as normal and predictable as ordering from Amazon (always stalk the reviews).


__Airbnb and Uber should go full horizontal...__ That is, they should expand to sharing and delivering *anything* (legal). With its trusted brand and platform, Airbnb could expand from home-sharing to "anything-sharing" — think: parking spaces, storage space, boats, and RVs. Uber has expanded from delivering people to delivering food. Now it's [dabbling](https://www.uber.com/newsroom/moving-more-of-what-matters-with-delivery/) with medication and package deliveries in select cities — we think it should go all-in on "delivery anything."

We wish Airbnb and Uber would let us share and order anything 

Dow Jones

S&P 500

Nasdaq

Bitcoin

🧞‍♀️ 3 bold biz wishes for 2021 

__Corporate steps up...__ 2020 was a year of cries for change and tragic injustices. This raised our expectations of company leadership, and caused a seismic shift in how corporations view their responsibility to society. Companies that saw themselves as pure profit-makers started taking on the role of change-makers.  

__Racial Equality__: A series of deaths of Black Americans at the hands of police spurred months of protests across the US. On a single day in June, half a million people participated in demonstrations seeking justice for George Floyd, Breonna Taylor, and all Black lives. In addition to this massive civic reaction, corporations also took action, making [record](https://www.nytimes.com/2020/06/14/us/politics/black-lives-matter-racism-donations.html)-setting donations to racial justice groups across America.

- __58 of the 100 largest US companies__ [pledged](https://www.axios.com/fortune-100-companies-donations-racism-inequality-f2a53d37-e587-44f9-ab30-8efc0c088111.html) $3.3B by September, the largest amount in history ever committed to racial equity causes. Then, in October...
- __[JPMorgan Chase](https://robinhood.com/stocks/JPM)__ pledged a whopping $30B (~83% of its 2019 profit) over the next five years to help close the racial wealth gap.

__Diversity in the Workplace:__ Companies also made big moves toward more diversity in the workplace, starting with the corporate boardroom.

- __[Nasdaq](https://robinhood.com/stocks/NDAQ)__ pushed for SEC approval to create a significant board diversity rule for the ~3K companies listed on its exchange: include at least one woman on the board and a director who is a racial minority or who identifies as LGBTQ — or risk getting delisted.
- __[Goldman Sachs](https://robinhood.com/stocks/GS)__ said it would no longer ship IPOs of American companies that don't have at least one “diverse” board member.

__Environmental Causes:__ Companies stepped up their commitments to reducing environmental harm. 

- __[Microsoft](https://robinhood.com/stocks/MSFT)__ pulled an ambitious “carbon-negative,” pledging to remove all the carbon it has ever emitted since 1975.
- __[Amazon](https://robinhood.com/stocks/AMZN)__, __[AT&T](https://robinhood.com/stocks/T)__, __IKEA__, and __DHL__ – all companies with major delivery fleets – formed an alliance to pressure EV makers to scale electric delivery vans faster.

_Microsoft embarking to remove all the carbon_

Change

__“No comment” is no longer an option...__ For decades, corporations' only focus was returning value to shareholders through profits. In 2020, silence and inaction on important societal issues is no longer accepted — our expectations of companies’ responsibilities have changed. And in some cases, like Nasdaq's board diversity push, these companies can even act as de facto lawmakers.


Corporate social responsibility: when silence was no longer an option

🌳 Snacks Digested 2020: Trend #4

__*Life could be a dream*...__ but it's actually a tiny screen. To curb the spread of Covid, we stayed home. To curb our homebound isolation and boredom, we spent more time on apps than ever before. Mobile app usage [soared](https://www.appannie.com/en/insights/market-data/mobile-app-usage-surged-in-q3-2020) 25% from July to September compared to last year. We escaped the anxiety-inducing "real world" of 2020 by living through screens — AKA: *The Great App-scape*. 

__*From streaming games to Tinder games...*__ our screens entertained us. 

- __[Disney+](https://robinhood.com/stocks/DIS)__ gained nearly 74M subscribers in a year, and became the #3 free iPhone app of the year as you streamed "Hamilton" from the tub. 
- __Epic Games__ notched a $17B valuation thanks to your *Fortnite* addiction. Meanwhile, *Among Us* reportedly hit ~500M players in November — a mobile game record.

__*From post to post...*__ our social lives rested in the palms of our hands.

- __TikTok__ was the [most](https://9to5mac.com/2020/12/09/tiktok-most-downloaded-app/) downloaded app of 2020 (and the fastest-growing) — not to mention all the copycats, from Instagram Reels, to Snap's Spotlight. Speaking of...
- __[Snap](https://robinhood.com/stocks/SNAP)__'s daily users grew 18% to 249M, while the stock has nearly tripled in value this year.
- __[Match](https://robinhood.com/stocks/MTCH)__ watched it shares soar to all-time highs as you spent romantic evenings through on Tinder and Hinge (#loveatfirstswipe).

__*Apps became way more than an escape..*.__ they became central to our lives, from managing our money, to managing our mental health, to feeding ourselves.

- __Finance:__ Out of all categories, finance apps had the [fastest](https://www.flurry.com/blog/top-us-mobile-app-category-winners-losers-coronavirus/#:~:text=Since%20March%2C%20Flurry%20estimates%20that,and%20sudden%20lift%20is%20noteworthy.) growing usage compared to pre-pandemic levels: From __Robinhood__ to __[TD Ameritrade](https://robinhood.com/stocks/TD)__, investing apps saw record growth as millions of people started participating in the markets.
- __Relaxation:__ __Calm__ hit a $2B valuation as meditation apps provided some peace of mind in a zero-chill era and became go-to company perks.
- __Shopping:__ From __[Amazon](https://robinhood.com/stocks/AMZN)__ toilet paper rolls to __[DoorDash](https://robinhood.com/stocks/DASH)__ burrito bowls, our apps became our shopping carts. 


_Watching ESPN live.... live at the game_

Scroll

__The app life isn't going anywhere...__ When Steve Jobs [unveiled](https://www.youtube.com/watch?v=vN4U5FqrOdQ) the first iPhone in 2007, we didn't understand the massive potential behind those little square icons called "apps." Then the App Store launched in 2008... *and the rest is history*. The pandemic made us more app-attached than ever. While we might spend less time glued to our phones as things "normalize," 2020 made one thing clear: our mobile app-dependence is here to stay.


The Great App-scape: when life became a screen

 📲 Snacks Digested 2020: Trend #3

__Handmade fuzzy socks FTW...__ In a year of so much fear and uncertainty, we turned to familiar creature comforts to help us feel a little more at ease. Companies that were previously forgotten (or even ridiculed), shockingly rose up from the Wall Street shadows as relevant standouts:

__[Etsy](https://robinhood.com/stocks/ETSY)__ was a cultural punchline in 2019 — now it's a Wall Street darling with the second [best](https://www.nytimes.com/2020/12/08/business/etsy-masks-wall-street.html)-performing S&P 500 stock of the year. It was *the* best performing S&P stock, until __[Tesla](https://robinhood.com/stocks/TSLA)__ was added to the index in December (womp): 

- __From DIY boba kits__ to embroidered blankies, Etsy is the chicken noodle soup of ecommerce. But its stock has 4X'd this year, and no one's laughing now.
- __Etsy rode the ecommerce surge__, becoming a prime destination for handmade masks (a whopping ~54M sold since April). Etsy's total January to September sales *doubled* from last year.
- __The homespun, wholesome brand__ was a warmer alternative to __[Amazon](https://robinhood.com/stocks/AMZN)__ — and a way for people to support craft sellers and small businesses.

__[Crocs](https://robinhood.com/stocks/CROX)__ was famously known as the ugly shoe brand — then it had its 2020 Croc-star moment, riding a wave of star-studded collabs. While US footwear sales were down 20% this year, Crocs sales were *up* 48%, [according](https://snacks.robinhood.com/newsletters/3ETaAxVP4KQZkVr5EqT97i/articles/4liB0qYuC74MGOgivfe625) to an analyst. 

- __Crocs brought in record sales__ last quarter thanks to its comfort-first focus (and Justin Bieber). It's  thriving because functional = the new fashionable. 

__[Campbell Soup](https://robinhood.com/stocks/CPB)__ also made a shocking comeback in 2020: Campbell's canned soup sales *grew* after having fallen for nearly nine years straight. Pantry-staples like Campbell's became a hot commodity around the same time that TP disappeared (#memories). 

- __As we turned to familiar, affordable names__ for hoarding and stress snacking, sluggish old companies started growing again. 
- __Other comfort food honorable mentions:__ __[Kellogg](https://robinhood.com/stocks/K)__, __[Pepsi](https://robinhood.com/stocks/PEP)__, __[General Mills](https://robinhood.com/stocks/GIS)__, and __[Kraft](https://robinhood.com/stocks/KHC)__ (shoutout boxed mac & cheese).


_There goes the Crochead that I see each morning_

Comfy

__Comfy is the new cool...__ Moisturizer is the new bronzer, sweats are the new khakis, and craftmade is the new designer. The underlying 2020 trend: affordable comfort *is* the cool factor. With 10.7M Americans still unemployed and vaccines that won't be widely available until this summer, "comfort is king" could trend well into 2021.


The Rise of the Underdogs: when comfort became king

🧶 Snacks Digested 2020: Trend #2  

__*Commuting to the fridge*...__ The excitement is palpable. In March, we realized home is where the heart is — and also *where the entire year is*.  Cue: "The House Hype." The best time to DIY-home improve is when you're home 24/7, so we invested in sprucing up our biodomes. We thought the hype might be slowing in May, but it barreled through the rest of the year. The House Hype wasn't just a hideaway — it was a necessary distraction.

__Home Improvement and Decor:__ *From $5 candles to $5K cloud couches*...

- __[Lowe's](https://robinhood.com/stocks/LOW)__ saw shockingly strong  growth as you repainted your kitchen (three times) — sales were up more than 30% for the past two quarters.
- __[Home Depot](https://robinhood.com/stocks/HD)__ said "same" and had its best quarter in 20 years, raking in *$38B* in sales from May to August as you *finally* changed the unhinged toilet seat.
- __[Restoration Hardware](https://robinhood.com/stocks/RH)__'s fancy profits soared on $1K faucet handles.

__Home Appliances:__ *From Chromebooks to bidets*...

- __[Best Buy](https://robinhood.com/stocks/BBY)__'s online sales more than tripled from May to August as you picked up your Nintendo Switch curbside.
- __[iRobot](https://robinhood.com/stocks/IRBT)__ sweeped up strong Roomba sales as compulsive cleaning became a national pastime.

__Home Delights:__ *From gardening to sourdough starters...*

- __[Netflix](https://robinhood.com/stocks/NFLX)__ added an insane 28M subscribers in nine months as we lived vicariously through its shows.
- __[Peloton](https://robinhood.com/stocks/PTON)__'s subscriptions and sales doubled for 2020 (and its stock 5X'd), as $2K spin bikes became the most expensive coat racks of the year.


"_I spruced up the place a bit"_

Home

__Revenge spending could be next...__ Our houses are decked out, we have enough Ross scented candles to last a lifetime, and the vaccine is expected to become broadly available by summer 2021. "Revenge spending" *outside* the home on things like vacays, concerts, dining, and non-stretchy clothes could be coming — aka: the anti-House Hype.

The House Hype: when home became the only destination

🏡  Snacks Digested 2020: Trend #1

__Like eliminating the DH...__ The SEC (aka the police *and* rulemaker of public stock markets), just [approved](https://www.wsj.com/articles/sec-approves-nyses-plan-for-new-ipo-alternative-11608665152) a new way for companies to go public — The "Primary Direct Floor Listing" (FYI, The __[New York Stock Exchange](https://robinhood.com/stocks/ICE)__ had asked for this.) And it includes the best of both worlds: Companies can raise money IPO-style and get the right price direct listing-style. 

- __It's IPO-ish:__ This lets companies create new stock and sell it to the public. They enjoy fresh cash to grow their business at the same moment they graduate from private to public.
- __It's direct listing-ish:__ Instead of paying big fees to investment banks to guide their Initial Public Offering (IPO), companies simply release their stock into the wild, letting the markets decide the price.

__Dilution, we have a problem...__ The major recent criticism of IPOs is that stock is getting mispriced by investment banks. Just this month, investment banks thought __[DoorDash](https://robinhood.com/stocks/DASH)__ and __[Airbnb's](https://robinhood.com/stocks/ABNB)__ stocks were worth $102 and $68, but they were off by 86% and 113%. The losers to these mis-pricings were the companies that sold stock for way less than they could have — that results in unnecessary dilution of their stocks.

Stocks

__This new way to IPO is bad for investment banks__... and the institutional investors who get special treatment with IPOs. Top i-banks earn hundreds of millions of $$$ in fees by advising IPOs — They're gatekeepers to public markets. Outspoken IPO-critic and VC investor Bill Gurley [thinks](https://www.cnbc.com/2020/12/22/bill-gurley-direct-listing-rule-change-will-end-traditional-ipos.html) this change will "unquestionably" lead to the end of traditional IPOs. Despite the news, stocks of the #1, #2, and #3 leading IPO banks rose yesterday: __[Goldman Sachs](https://robinhood.com/stocks/GS)__, __[Morgan Stanley](https://robinhood.com/stocks/MS)__, and __[Bank of America](https://robinhood.com/stocks/BAC)__. 


A new way for companies to go public could be the end of the IPO

__$18 for movie popcorn...__ ~$6B for the whole movie company. __MGM Studios__ is reportedly trying to [sell itself](https://www.wsj.com/articles/mgm-holdings-studio-behind-james-bond-explores-a-sale-11608588732) by betting on its #1 star: Content. We'd already heard that the movie studio was considering selling off *just* the latest *James Bond* movie earlier this year — now it's throwing in every prop on the set. Here are some of MGM's most entertaining money-making assets:

- __Iconic franchises:__ James Bond, Rocky, Pink Panther
- __Legendary Films:__ Terminator, Silence of the Lambs
- __Quality TV:__ *The Handmaid's Tale*
- *__Surprise:__* MGM Studios is also part-owner of *Survivor*

__This feels like a rerun...__ Because it is. In 2018, MGM's CEO tried to sell the studio for $6B to Apple — but then MGM fired him. Now with theaters closed, MGM's making *the same exact move*. If this sequel works, a $6B MGM sale would end happily with a payoff for its owners __[Comcast](https://robinhood.com/stocks/CMCSA)__, __[Sony](https://robinhood.com/stocks/SNE)__, and a cast of private equity firms. For context, Disney bought Marvel and Lucasfilm for $4B each in 2009 and 2012.


"You want a whole movie studio for Christmas?"

Flick

__In the Streaming Wars, content has never been more king...__ Unlike MGM's first attempt to sell itself two years ago, you now face a dozen streaming options (HBO Max, Hulu, Disney+... we could go on). To catch up to Netflix's deep content library, a newer streamer could spend years starting from scratch by producing new characters, shows, and movies — or acquire a lineup of beloved franchises. Looking at you, Apple TV+ (and Apple's got the cash).

Hollywood studio MGM explores selling itself for around $6B

🎬 A $6B James Bond gift

__Biker pro tip...__ *Always splurge on the wheels*. __[Peloton](https://robinhood.com/stocks/PTON)__ is dropping $420M on __Precor__, a stationary bike-maker. Precor's an unsexy combo of 625K-sq-feet of manufacturing space *and* 100 Research & Development employees — but the strategic purpose powered Peloton stock up 12% to an all-time high (get them a mid-ride shoutout, @[Toussant](https://www.onepeloton.com/instructors/bike/AlexToussaint)).

__"Biggest impediment to growth"...__ [That's](https://www.cnbc.com/2020/12/22/peloton-pton-stock-on-track-to-hit-record-high-on-precor-deal.html) what one analyst calls Peloton's inability to make its own bikes to meet demand. We call it a hill. Peloton stock is already up over 400% in 2020, but "not-being-able-to-make-enough" is problem #1 (there's still a months-long backorder). With Precor, Peloton buyers will (ideally) not wait as long between bragging about ordering a new bike and actually riding it.

Peloton just snagged another assembly line

Ride

__Peloton's unlocking the power of vertical integration...__ The ability for a brand to vertically integrate, owning its entire supply chain, can control success or failure. Direct-to-consumer icon __[Casper](https://robinhood.com/stocks/CSPR)__ warned it isn't vertically integrated, leading to long mattress waits that result in lower sales. Peloton's splurging on vertical integration to avoid that.

Peloton jumps 12% after a $420M bike purchase

__You're guilty, too...__ We already know the biggest villain of the terrible opioid epidemic that ripped apart families and took hundreds of thousands of lives across America: __Purdue Pharmaceutical__. The fines and penalties coming to the OxyContin manufacturer (and Sackler family behind it) [forced](https://www.statnews.com/2019/09/16/if-purdue-pharma-declares-bankruptcy-what-would-it-mean-for-lawsuits-against-the-opioid-manufacturer/) their bankruptcy last year. Out of nowhere, another villain:

- __The US Justice Dept [sued](https://www.justice.gov/opa/pr/department-justice-files-nationwide-lawsuit-against-walmart-inc-controlled-substances-act) [Walmart](https://robinhood.com/stocks/WMT) yesterday__, alleging it helped fuel the crisis (and fuel Walmart profits) because prescriptions were filled too easily at Walmart pharmacies.
- __Walmart's response: The government's embarassed.__ Instead of owning up to failed regulation, they're looking for a scapegoat in Walmart.

__76 prescriptions for every 100 Americans...__ That's the average [ratio](https://www.cdc.gov/drugoverdose/maps/rxrate-maps.html) that 200M+ addictive opioids were dealt out annually from 2006-2016 (it's down since, but still very high). We already know the drug company and tons of doctors who played a role in over-prescribing nationwide. Now Walmart's 5K in-store US pharmacies are under the spotlight.

Sued

__Cut corners, make profit...__ The lawsuit basically says that Walmart [handed out](https://www.wsj.com/articles/u-s-sues-walmart-alleging-role-in-fueling-opioid-crisis-11608661856?mod=hp_lead_pos1) opioids willy nilly, without following proper rules & regs. Walmart stock fell about 1.5% yesterday as it pledged to fight this allegation in court (lawyers are expensive, too). But mainly it's bad PR, a distraction from the company's core biz, and could result in huge fines or penalties.

The US Government sues Walmart for (allegedly) fueling the opioid crisis 

🚴‍♀️ Peloton's new muscle

__You got iOS jumper cables?...__ Someone at __[Apple](https://robinhood.com/stocks/AAPL)__ does. Tim Cook is reportedly [building](https://www.reuters.com/article/us-apple-autos-exclusive/exclusive-apple-targets-car-production-by-2024-and-eyes-next-level-battery-technology-idUSKBN28V2PY) a ridiculously techy personal automobile, according to Reuters. It's a shocker, because Apple's first car attempt, "Project Titan" (bold name), began in 2014 and crashed in 2019. Here's the update:

- __When can iDrive?:__ Apple's reportedly targeting 2024.
- __What's so special about it?:__ The battery. Apple's game-changing juice will last longer and charge faster. 
- __Who builds it:__ Not Apple. Just like iPhones, which are made by Chinese manufacturing giant Foxconn, Apple would likely outsource manufacturing (TBD to who). 

__Apple's a $2T company...__ so rumors of an Apple car in four years didn't budge the stock. But Apple's apparently going to buy Lidar sensors to make this thing self-driving. This would be a dream deal for Lidar companies __[Velodyne](https://robinhood.com/stocks/VLDR)__ and __[Luminar](https://robinhood.com/stocks/LAZR)__ — their stocks [jumped](https://www.cnbc.com/2020/12/21/lidar-stocks-soar-after-report-that-apple-is-working-on-a-car-for-2024.html) 23% and 27% as investors fantasized about which could get Apple's rose.

"So if Apple makes a car, do I need a new charging dongle?"

Jolt

__Car-making measures time in years...__ Apple is the richest company in the world, with more cash on hand than many countries. But the average car includes [30K](https://www.toyota.co.jp/en/kids/faq/b/01/06/) parts. Even if Apple's magically simple design can cut that in half, this is more complex than adding an 8th camera to an iPhone 14. It's usually five to 10 years between starting a car design and getting it mass produced for the road. Never forget: It took Tesla *17 years* to find its first profit. 

Apple's car project is reportedly back on (ETA 2024)

⚡️ Apple's iCar is alive 

__The stimulus, Round #1...__ When lockdowns hit full force nine months ago, the economy suffered: a staggering ~22M Americans lost their jobs between March and April, and the unemployment rate soared to 14.7% in April from 3.5% in February. The US government [moved](https://snacks.robinhood.com/newsletters/CLl0evxvaKPwXSPACmU6C/articles/jtOWtkujqwVzIeEa8NYkj) quickly to provide financial medicine, in the form of a massive $2T economic rescue package. 

- __That helped drive a swift recovery,__ but now the pace of financial healing has dramatically slowed.
-  __Meanwhile:__ 10.7M Americans are still unemployed, [~8M](https://www.cnbc.com/2020/12/20/mcconnell-says-congress-has-agreed-to-900-billion-coronavirus-stimulus-deal.html) have fallen into poverty since June, and Covid cases are soaring in a 3rd wave. 

__The stimulus, *Reloaded*...__ Nine months after the first stimulus was passed, Congress has *finally* [agreed](https://www.cnbc.com/2020/12/20/mcconnell-says-congress-has-agreed-to-900-billion-coronavirus-stimulus-deal.html) to pass another (smaller) stimulus bill. Here's what's likely included in the nearly [$900B](https://www.cnn.com/2020/12/20/politics/stimulus-latest-shutdown-deadline/index.html) package:

- __Checks:__  Direct payments of $600 to many American adults, and in some cases an extra $600 per dependent child.
- __Boosted unemployment:__ An extra $300/week in unemployment benefits for at least 10 weeks.
- __Business aid:__ At least $300B in small business assistance, including PPP loans.
- __Healthcare funding:__ Funds for distributing the two FDA-approved Covid-19 vaccines, and relief to overwhelmed hospitals.


_The Stimulus (finally) Reloaded_

Check

__Small businesses lost big in 2020...__ While the Payroll Protection Program was intended to help mom-and-pop shops, it was bigger businesses who benefited most. More than half of the ~$525B in PPP loans doled out through November went to just 5% of the 5M total recipients. Most of the loan money was given to larger businesses, [according](https://www.forbes.com/sites/jonathanponciano/2020/12/02/new-ppp-loan-data-reveals-most-of-the-525-billion-given-out-went-to-larger-businesses-some-with-trump-kushner-ties/?sh=60d231965a43) to *The Washington Post.*  ~100K businesses have permanently shutteredsince lockdowns. Meanwhile, 45 of the 50 largest US companies have been profitable since March. Small businesses badly need this 2nd stimulus — hopefully it'll be more helpful than the first.

The second stimulus: what's likely included in the much-needed $900B package


__Ludicrous Mode 500...__  Today, __[Tesla](https://robinhood.com/stocks/TSLA)__ is [joining](https://snacks.robinhood.com/newsletters/rQUWmLLXMpM5qdWBv9Eap/articles/2HouhgfCwSO1yiJ7D7X3Dj) the famous [S&P 500](https://learn.robinhood.com/articles/7kFFEUv46vmMCmMfLuNiRX/what-is-the-s-and-p-500/) index, which tracks the stocks of the 500 most valuable US public companies. People use it like a "scoreboard" for how the overall market is doing. Big BTW: over *$11T* is invested in mutual funds and ETFs that track the index. Fund managers have been buying up Tesla shares for their S&P-tracking funds — that's likely why Tesla stock [soared](https://www.cnbc.com/2020/12/18/tesla-jumps-6percent-in-heavy-volume-sees-wild-trading-volume-more-than-130-billion-worth-of-stock-changes-hands-ahead-of-sp-add.html) 14% for the week to a record high. 

__Double high...__  Literally. __[Tilray](https://robinhood.com/stocks/TLRY)__ and __[Aphria](https://robinhood.com/stocks/APHA)__ are [combining](https://snacks.robinhood.com/newsletters/34slcnoYqMAzLWagvGk157/articles/6rCjPediUQoEmp56DbbJTH/) to create Earth's largest pot company (by sales). The new company will keep Tilray's name (#MarriageFlex). Tilray shares jumped 14% for the week. The merger will help expand reach in Europe and the US, where more pot legalization is likely. Despite their soon-to-be "world's largest weed company" status, Aphria and Tilray make less than $700M in sales per year *combined* — less than Juul's sales in 2018. Cannabis is like freshman year Harry Potter: gets all the attention, but hasn't really done much yet.


Highs

Who's up...

__You Yougled GooTube...__ Must be the stress. __[Google](https://robinhood.com/stocks/GOOGL)__ shares ticked down for the week after it was [served](https://www.cnbc.com/2020/12/18/google-antitrust-cases-in-us-and-europe-overview.html) a hearty plate of antitrust salad. Ten states sued Google on Wednesday, accusing it of running an illegal digital ad monopoly. Then, on *Thursday*: 38 states joined an antitrust lawsuit that alleges Google used anti-competitive tactics to protect its search monopoly. For example: by paying __[Apple](https://robinhood.com/stocks/AAPL)__ billions to be the default search engine on iPhone. If Google loses the suit, it might have to split off its Search biz.

__Niet good...__ __[SolarWinds](https://robinhood.com/stocks/SWI)__' network-monitoring software is used by multiple US federal agencies and most Fortune 500 companies. Usually, that's a major flex — now, not so much: last week, we learned that SolarWinds' software was [hacked](https://snacks.robinhood.com/newsletters/2Thtg4B9qZXhrZAZGa7zsI/articles/5tPnOlTtebqIfw6x6XFniM/) (likely by Russia). That led to a breach of the US Treasury and Commerce departments, and possibly the Department of Homeland Security (yikes). SolarWinds stock plunged 40% for the week, while cybersecurity stocks like __[FireEye](https://robinhood.com/stocks/FEYE)__ (which was also hacked) soared.


Lows

...and who's down

💰 Stimulus Round #2 

__Like the CIA of processed sugar...__ The six-person team that comes up with limited-edition Oreo flavors has top secret security clearance (at its parent company, snack legend __[Mondelez International](https://robinhood.com/stocks/MDLZ)__). The team is so secretive, that Mondelez [refuses](https://www.nytimes.com/2020/12/16/style/oreo-flavors.html) to even say what it's called. 

- __Their job:__ Flavor innovation. Since 2012, they've launched 65 Oreo flavors including: Jelly Donut, Waffle & Syrup, Crispy Tiramisu, Pina Colada, and in China... *Hot Wings*.
- __Their mission:__ Excite love for the 108-year-old Oreo. A Wasabi Oreo might not be your go-to, but it's provocative – *it gets the people going*.

__The proof is in the (double) stuffing...__ The not-so-secret goal of Oreo's secret flavor team: drive shoppers back to the plain old Oreo (aka: milk's favorite cookie). Niche flavors and tweet-worthy collabs are meant to help people rediscover the OG favorite. And the strategy seems to be working: 

- __Sales of specialty Oreos__ have jumped more than 12% over the last three years. During that same time, sales of *classic* Oreos soared over 22%. 
- __~15% to 20% of Oreo sales__ came from shoppers who were new to the brand, according to estimates from Mondelez's CEO. 

_Creating the next Oreo flavor..._

Stuffed

__It's the LVH effect...__ The Limited Viral Hook. When Mondelez [launched](https://www.mashed.com/191068/the-real-reason-supreme-oreos-are-so-expensive/) limited-time only Supreme Oreos, Supreme fans bit (Supreme logo = automatically cool). Next up: salmon-colored, green-stuffed Oreos in honor of Lady Gaga's new album. Oreo uses brands, people, and flavors to generate buzz and expand its appeal beyond the usual customers — *then it hooks you with the OG profit puppies*. __[Dunkin'](https://robinhood.com/stocks/DNKN)__ and __[Starbucks](https://robinhood.com/stocks/SBUX)__ also [use](https://snacks.robinhood.com/newsletters/5mY5sSUetVsDU3TVYIRcys/articles/3C3YTFL9Q1NYRL0lkmUBiA/) the LVH strategy with their color-changing seasonal drink monstrosities, while __[Crocs](https://robinhood.com/stocks/CROX)__ does it with J. Bieber clogs.

The secret behind Oreo’s limited-edition flavor strategy 

__*Darth Bezos strikes again*...__ Global domination has taken a very literal turn: maps. __[Amazon](https://robinhood.com/stocks/AMZN)__'s omnipresent cloud service, AWS, just [launched](https://techcrunch.com/2020/12/16/aws-launches-amazon-location-a-new-mapping-service-for-developers/) "Amazon Location" (unfortunately, not a real-time package tracker). This mapping service lets developers add location-based features to their apps. 

__From the North Pole to the South...__ The supreme ruler of mapping is... Google Maps. Maps has 1B+ users, and is also used by a ton of map-reliant apps like __[Uber](https://robinhood.com/stocks/UBER)__ and __[DoorDash](https://robinhood.com/stocks/DASH)__. Without __[Google](https://robinhood.com/stocks/GOOG)__, Uber can't direct drivers, and DoorDash can't stop you from asking "where is my ramen." From 2016 to 2018, Uber paid Google $58M to use its Maps service. And...

- __Uber [signed](https://snacks.robinhood.com/newsletters/2FFx07PkihITcdXy20oUUt/articles/1uzYy1VFte7XNHCCgRnTDD/) a 4-year renewal deal with Maps__ in July because it's the only mapping solution "that can provide the global functionality  we require."
- __Amazon Location is not as all-encompassing as Maps__, but the Zon is making up for it in the best way it knows how: lower prices. 

__AWS is Amazon's silent (but deadly) superpower...__ It's a "silent server" for a *huuuge* swath of the digital economy,  powering the operations of millions of companies from __[Netflix](https://robinhood.com/stocks/NFLX)__, to __[Slack](https://robinhood.com/stocks/WORK)__, and __[Shell](https://robinhood.com/stocks/RDS.A)__. Last quarter it made up 12% of Amazon’s sales, bringing in a gnarly $11.6B — *and* it made up over half of Amazon's total profit. Since millions of large and small businesses use AWS to power their operations, Amazon has a major leg up when launching new  (cheaper) services like Location.
