__Once bitten…__ still not shy. Crypto's going through a rough patch, but that hasn't slowed down major investment firms. Out of 180+ active crypto exchange-traded products (like funds that track cryptocurrencies), more than half [launched](https://ca.finance.yahoo.com/news/cryptoverse-flurry-funds-bet-bruised-051418189.html) *after* the crypto market peaked late last year. So as retail investors ran for the sidelines, Big Money kept playing ball despite crypto winter's chill:

- __Blockpain:__ __[Bitcoin's](https://robinhood.com/crypto/BTC/)__ down 70% from its high of almost $69K last year, and __[ether's](https://robinhood.com/crypto/ETH/)__ down over 70%. 
- __Crypt d'oh:__ 95% of active exchange-traded products (ETPs) focus on bitcoin and ether.

__Team crypto hasn't shrunk…__ it's just traded players. While the public's interest in crypto has declined, big banks and tech titans are filling the void. Last week __[BNY Mellon](https://robinhood.com/stocks/BK/)__ said it's getting into the crypto-custody biz, following a similar announcement from __[Nasdaq](https://robinhood.com/stocks/NDAQ/)__ last month. Meanwhile, __[Mastercard](https://robinhood.com/stocks/MA/)__ said it'll help banks offer their clients crypto trading, and __[Google](https://robinhood.com/stocks/GOOGL/)__ signed a deal with __[Coinbase](https://robinhood.com/stocks/COIN/)__ to facilitate crypto cloud payments (picture: cloud-storage bills paid in __[doge](https://robinhood.com/crypto/DOGE/)__).

Getting down to (crypto) business (Spencer Platt/Getty Images)

Spring

__Once the ball's rolling, it's hard to stop…__ The crypto market's changed radically in the past 11 months (remember: $2T in value lost), and crypto projects coming online today were likely born in sunnier times. So it's unclear if recent ETPs and custody announcements are a sustained vote of confidence in crypto's long-term value or merely the result of lingering bull-market momentum. But if techies, major banks, and credit-card cos keep adding crypto offerings, it could mean they see a crypto spring coming.

As retail investors feel crypto winter's chill, institutional players turn up the heat

__Hashbrowns and hot doughnuts…__ a match made in drive-thru heaven. __[Krispy Kreme](https://robinhood.com/stocks/DNUT/)__ is [teaming](https://www.cnbc.com/2022/10/18/mcdonalds-to-sell-krispy-kreme-doughnuts-in-latest-menu-experiment.html) up with __[McDonald’s](https://robinhood.com/stocks/MCD/)__ to bring its iconic glazed doughnuts to the Golden Arches. This month McD’s will start selling three Krispy flavors at nine locations. [Krispy Kreme](https://robinhood.com/stocks/DNUT/) investors had a sweet tooth, boosting the stock yesterday by as much as 7%. For both chains it’s a rare move:

- __McD’s__ usually doesn’t feature other foodies on its Mc-filled menu. It did partner with __[Beyond Meat](https://robinhood.com/stocks/BYND/)__ to offer a McPlant burger, but some locations have pulled the option from menus as demand fizzles.
- __Krispy Kreme__ uses its 245 shops to bake doughnuts for grocery stores and gas stations, but not restaurants. Teaming up with even a fraction of McD’s 13K+ locations could help it reach its goal of being in 10K locations.

__Sweet ’n’ salty…__ From __[Wingstop](https://www.restaurantbusinessonline.com/marketing/wingstop-give-away-chicken-sandwiches-year-new-york-city)__ to __[Taco Bell](https://www.thrillist.com/news/nation/taco-bell-taco-lovers-pass-subscription-returns)__, fast-food chains are testing new items and promos to attract inflation-fatigued diners. In August, average menu prices were up 8% from last year, and McDonald’s says its customers with lower incomes are spending less at the burger chain. On the flip side: Krispy Kreme’s sales jumped nearly 8% last quarter as Americans kept shelling out for dollar-doughnut delights.

McKrispy

__Part-time rivals can be full-time friends…__ McDonald’s and Krispy Kreme compete on breakfast, but they can complement each other in areas where they lack. Krispy doesn’t have the “anytime meal” appeal that McD’s has. Meanwhile, McDonald’s wants to see how name-brand sweets might enhance its popular McCafé options. If the collab is successful, we could see other fast-casual partnerships (think: Dunkin’ in KFC).

McDonald’s plans to test Krispy Kreme doughnut sales, showing “part-time rivals” could be friends

As retail investors feel crypto winter's chill, institutional players heat up

Dow Jones

S&P 500

Nasdaq

Bitcoin

A recent survey found that millennials plan to spend $225 on Halloween this year, the most of any generation

🏦 Crypto's big-money believers

__Scanning a bean can…__ This barcode has a bigger price tag: on Friday, __[Kroger](https://robinhood.com/stocks/KR/)__ said it was [buying](https://www.cnbc.com/2022/10/14/kroger-agrees-to-buy-albertsons-for-24point6-billion.html) smaller rival grocer __[Albertsons](https://robinhood.com/stocks/ACI/)__ for $24.6B. The super-merger is one of the largest in America’s grocery history. Combined, Ralphs owner Kroger and Safeway parent Albertsons would have 7K+ workers in 5K stores, gaining (super) market share: 

- __The top dog is [Walmart](https://robinhood.com/stocks/KR/),__ which controls a fifth of the US grocery market. Kroger’s #2 with 10% of total dollars spent, followed by __[Costco](https://robinhood.com/stocks/COST/)__. 
- __Post-merger,__ Kroger and Albertsons would have ~15% market share. But the deal could be challenged by regulators. 
- __Not in the bag:__ Kroger and Albertsons are expected to sell stores in regions where they have overlapping influence, to help gain regulatory approval. 

__Add ads to the bagging area…__ The merger could boost profits by integrating Kroger’s and Albertsons’ operations and giving them more leverage in vendor negotiations. But it could also boost their share of the “retail media” market — one of the fastest-growing advertising sectors. You can tell *a lot* about someone from their grocery cart (Red Bulls + ramen = college). By combining their customer data, Kroger and Albertsons could boost their ad-targeting value. 

- __Kroger and Albertsons__ both have a retail ad biz (think: promos on sites), though they don’t break out how much they earn from them. 
- __Kroger was one of the first retailers__ to expand its ad biz *beyond* its own properties, letting brands use its shoppers’ data to target them on third-party apps and sites.

A cartful of data (Brandon Bell/Getty Images)

Super

__Profit puppies aren’t always visible…__ Kroger’s and Albertsons’ moneymakers seem to be groceries. But the real value of this deal could lie in *ads* — which you don’t see on shelves. Companies like Walmart, __[Amazon](https://robinhood.com/stocks/AMZN/)__, __Instacart__, and __[Uber](https://robinhood.com/stocks/UBER/)__ are monetizing customer data to sell ad space across digital properties. The merger would make Kroger-Albertsons the #4 player in the $41B retail ad market, with a 13% share.

Kroger agrees to buy Albertsons for $25B, but the super-merger is about more than groceries

__Doubling down on Dawn…__ __[Procter & Gamble](https://robinhood.com/stocks/PG/)__ is aggressively [advertising](https://www.wsj.com/articles/procter-gamble-bets-inflation-wont-push-shoppers-to-trade-down-11665871386?mod=business_lead_pos1) pricey premium products like Dawn dish soap, even as cash-strapped shoppers struggle with rising prices. P&G, which makes aisle all-stars like Gillette razors and Charmin toilet paper, is running new sustainability-focused ads for Tide detergent that feature stars like Ice-T and Vanilla Ice.

- __Ice ice water:__ P&G’s ads say shoppers will save $$ buying premium Tide detergent because it works in cold water, which is cheaper than hot.
- __Maximizing market share:__ Last quarter P&G’s sales jumped 6% despite its largest price hikes in years. In the past four years, P&G *gained* US market share while raising prices as consumers continued reaching for its famous brands. 

__It’s good to be iconic…__ Leading companies can find an upside during downturns by leaning on their most recognizable brands. During the 2008 recession, consumer favorites like __[McDonald’s](https://robinhood.com/stocks/MCD/)__ and Kraft (now __[Kraft Heinz](https://robinhood.com/stocks/KHC/)__) were some of the market’s top performers. Last week, __[PepsiCo](https://robinhood.com/stocks/PEP/)__ [raised](https://www.nytimes.com/2022/10/12/business/pepsi-earnings-inflation.html) its annual sales and profit expectations on strong demand for fan favorites like Doritos and Gatorade. Pepsi’s CEO said the snack giant has historically done well in recessions.

Gamble

__Even loyal shoppers have a price…__ Detergent divas could eventually turn on Tide if it gets too pricey. P&G has maintained strong growth so far despite decades-high inflation. But more consumers are starting to “trade down” to cheaper options like private labels. Mega-retailers like __[Best Buy](https://robinhood.com/stocks/BBY/)__, Costco, and __[Dick’s Sporting Goods](https://robinhood.com/stocks/DKS/)__ say shoppers are ditching premium products for store-brand alternatives.

Procter & Gamble runs celeb-studded ads to persuade shoppers to pay premium prices for name brands

Minimum-wage workers in NYC would need to clock 111 hours/week to afford rent for a one-bedroom apartment

🥬 Supermarket merger

__Break out the boozy bingo…__ Retirees are getting the biggest boost to their Social Security benefits *in over four decades*. Starting in January, all Social Security recipients will get a record [8.7%](https://www.wsj.com/articles/social-security-benefits-to-increase-in-2023-11665665206) bump, bringing the monthly payouts to just over $1.8K. Every year the US government adjusts Social Security benefits to keep up with the cost of living (see: [COLA](https://www.ssa.gov/cola/)). Despite a nearly 6% increase in COLA benefits this year, the payout hasn't kept up with inflation.

- __Nearly 70M Americans receive SS benefits,__ and nearly a quarter of recipients 65+ rely on those checks for most of their income.
- __Since 1937 nearly every American worker__ (and their employer) has been required to pay Social Security taxes (taken from every paycheck). 
- __The current tax rate__ for people making under $147K is 6%. TBD if that’ll eventually rise because of the bump. Starting next year, the max amount of earnings subject to SS tax will increase to $160K from $147K.

__Goodbye, Boca timeshare…__ The extra cash should be a welcome relief to inflation-strained retirees, since Americans are burning through their savings. Last year, the cost of one of Medicare's most popular coverage plans went up 14.5% to $170/month. Since most older adults opt to have those costs deducted from their SS checks, it leaves them with less $$. Meanwhile, nearly $3T has been wiped from Americans' retirement accounts (think: 401(k)s, Roth IRAs) as stocks have tumbled this year.

A social safety net on the edge (C.J. Burton/Getty Images)

Boca

__Not all benefits are created equal…__ While a bigger check is a win for retirees, it could come at the expense of current workers and future retirees. Gen Zers are starting to [save](https://fortune.com/2022/10/12/gen-z-doesnt-want-to-make-the-same-mistake-millennials-did-with-the-great-recession/) for retirement earlier than previous generations, and they have good reason to: the Social Security Trust Fund (which pays out retiree benefits) is projected to run dry in 2034, leaving enough money to cover only 77% of scheduled benefits.

Social Security benefits are getting the biggest bump in 4 decades, but it could cost today’s workers

__All eyes on [Netflix](https://robinhood.com/stocks/NFLX/)…__ but everyone’s bingeing Tuesday’s earnings, not “Dahmer.” After losing 1M+ subscribers over the past two quarters, Netflix [plans](https://snacks.robinhood.com/newsletters/W96mSXRlwsUwppneoyj5Q/articles/61hgp29nqOK2kkjQpAn8G9/) to launch a $7/month ad-supported tier next month to revive growth — just weeks before __[Disney+](https://robinhood.com/stocks/DIS/)__ plans to launch its own cheaper tier. The commercials, which should average four to five minutes per hour, will cost advertisers big $$ and run on __[Microsoft](https://robinhood.com/stocks/MSFT/)__ tech. Meanwhile, Netflix’s $20B of original-content spending this year could cut into earnings: it expects profits to dip 34% this quarter from last year.

__All charged up…__ __[Tesla](https://robinhood.com/stocks/TSLA/)__ was on a roll last quarter. The EV icon delivered a record 343K vehicles (up 45% from last year) and analysts say it'll likely [report](https://www.marketwatch.com/story/tesla-earnings-are-coming-but-do-record-deliveries-mask-a-demand-problem-11665767452) $22B+ in third-quarter revenue on Wednesday (which would be up 63%). The accelerators: Tesla hiked prices on all models last quarter, upped production at its Berlin factory, and is ramping up in Shanghai. The speed bump: the record deliveries were *below* expectations, and there’s a chance Elon’s baby won’t meet its annual target because of logistical snags and high delivery costs.

Events

Coming up this week...

__The metaverse doesn’t have legs…__ literally. __[Meta](https://robinhood.com/stocks/META/)__ has spent $15B+ on its metaverse, but Horizon Worlds had only about 300K users as of February, and its avatars *still* don’t have legs. Last week Meta dropped a leg [teaser](https://www.theverge.com/2022/10/13/23403650/horizon-metaverse-legs-demonstration-motion-capture) — but admitted it was made using motion capture (read: fake digi-legs). Meta also launched a $1.5K VR headset and a Microsoft remote-work partnership (think: metaverse Excel). But meta-investments are expected to lose $$ for years. Meta’s cutting staff as growth slows (a first), and shares are down 60%+ this year. Zuck put it best: “Legs are hard.” 

__The gig is up…__ On Tuesday the US Labor Department [announced](https://snacks.robinhood.com/newsletters/6cmbZJrPc5cT50CZ2Nu6wO/articles/16Ww7crfGzhPqg75eHlqHk/) a proposal that could classify millions of gig workers (think: delivery drivers, janitors, and home-care aides) as employees rather than independent contractors. The final rule is expected next year and would likely boost gig workers’ pay and benefits, while hurting the gig-dependent biz models of companies like __[Uber](https://robinhood.com/stocks/UBER/)__, __[Lyft](https://robinhood.com/stocks/LYFT/)__, and __[DoorDash](https://robinhood.com/stocks/DASH/)__. And unlike California’s AB5 bill, this rule would have consequences nationwide.

Zoom Out

Stories we’re watching...

- __[Spicy](https://snacks.robinhood.com/newsletters/6UzdjLTJSzm7nLmaXC9jKH/articles/7c43OrR1NbjfKSQldOr7gT/):__ September inflation was up a hotter-than-expected 8.2% from last year as consumers kept spending through price hikes. That dashed hopes that the Fed might soon simmer down with its aggro rate hikes. 
- __[TikShock](https://snacks.robinhood.com/newsletters/5fsX1ZBmk9NXxRo6AW3wGi/articles/3kRkQRAcy4rJeec1PiE2SC/):__ A BBC investigation found that __TikTok__ has been profiting from charitable live streams, reportedly pocketing up to 70% of donations to displaced families in Syria. TikTok is no stranger to accusations of sketchy practices. 
- __[Ricall](https://snacks.robinhood.com/newsletters/5JM2yMkOS4Mtkn9RVTNx9a/articles/3aNJ0t6F4xIEFKZ8ORs2h8/):__ __[Amazon](https://robinhood.com/stocks/AMZN/)__-backed electric-truck maker __[Rivian](https://robinhood.com/stocks/RIVN/)__ said it was recalling 12K cars (nearly all the EVs it’s ever built) over safety concerns. While the recall isn’t likely to dent Rivian’s coffers, it’s hurting its nascent rep.

ICYMI

Last week's highlights...

On average, Americans spent $67K last year, up 9% from 2020 

💰 Social Security’s big payday

__Inflation doesn’t take a vacation…__ though investors wish they could buy it a one-way ticket to Cabo. US consumer prices in September were up a hotter-than-expected [8.2%](https://www.cnbc.com/2022/10/13/consumer-price-index-september-2022-.html) from a year ago — a slightly slower pace than last month, but still likely far too steamy to convince the Fed to simmer down on big rate hikes. Plus, that healthy September jobs report has dashed hopes that a Powell pause (#Powse) is coming soon. 

- __Sad consumers:__ “Core inflation” (aka: excluding food and energy) was up 6.6%, the highest yearly gain for core since 1982. 
- __Sad economy:__ This week the IMF cut its global growth forecast, and __[Chase](https://robinhood.com/stocks/JPM/)__ CEO Jamie Dimon said the US would likely enter a recession within nine months. 
- __Sad investors:__ Earnings season’s kicking off, and S&P 500 companies are expected to report their lowest annual profit growth since 2020.

__Still need hot Cheetos, though…__ Inflation is cruising at 40-year highs, partly because Americans continue to spend through price increases. Consumer spending ticked up more than expected in August, even as high interest rates and prices weighed on demand. __[Delta](https://robinhood.com/stocks/DAL/)__ and __[American](https://robinhood.com/stocks/AAL/)__ reported strong sales growth despite spooky fares. __[Pepsi](https://robinhood.com/stocks/PEP/)__ shocked investors with 9% sales growth as shoppers loaded up on Cheetos and Lay’s despite price hikes.

Chip-flation (NurPhoto/GettyImages)

__The Fed moves forward with an old map…__ It’s guiding the economy based on how things looked in the past (like: last month’s inflation), not how they might look nine months from now. If the route changes to a steep downturn, it might be too late to turn back. While the Fed is backward-looking, markets are forward-looking. That’s why this earnings season investors may be more interested in *forecasts* than results from last quarter.

Inflation’s still riding high as earnings season dawns, dashing hopes that the Fed will reverse course

__Nu(clear) kid on the block…__ There’s a new power player in the nuclear biz: this week renewable behemoth __[Brookfield Renewable Partners](https://robinhood.com/stocks/BEP/)__ and uranium powerhouse __[Cameco](https://robinhood.com/stocks/CCJ/)__ [agreed](https://www.ft.com/content/46df2aa9-0963-47a6-881c-f715a18a8527) to buy __Westinghouse Electric__ for $7.9B. Because Westinghouse services about half the world’s 440 nuclear reactors, the deal could revitalize the sector.

- __Big turnaround:__ Westinghouse went bankrupt in 2017 as nuclear demand fizzled. But the company’s sale price is 70% higher than four years ago thanks to renewed demand.

__Fission for compliments…__ Many seem to love nuclear now that Putin has destabilized global natural-gas supplies. The amount of global electricity produced by nuclear energy has fallen from 18% in the mid-’90s to 10%, because of disasters including Chernobyl. But now countries are reconsidering nuclear, which has lower emissions than fossil fuels:

- __California__ recently voted to keep its last nuclear plant open, reversing plans to close it. 
- __Germany’s__ debating whether to keep its remaining plants open, despite plans to close them by the end of the year (even Greta Thunberg wants them to stay open).
- __Japan__ is reopening old plants as part of a bigger nuclear reboot.
- __China__ just approved six nuclear plants and plans to double its nuclear capacity by 2030. — which would give it more plants than the rest of the world *combined*.

Surge

__Renewed profitability offers a path to revival…__ One reason nuclear plants dwindled in recent decades was they were expensive to build, and oil delivered more immediate energy profits. But Westinghouse’s sale shows nuclear’s profit potential: Brookfield Business Partners made a $4.5B profit in four years on its Westinghouse stake. Nuclear investments are expected to continue: experts say nuclear generation must double by 2050 to hit net-zero goals.

Nuclear giant Westinghouse sells for $8B in a sign nuclear power is making a comeback

- 🪙 __Coins…__ __[BNY Mellon](https://robinhood.com/stocks/BK/)__ is getting into the crypto-custody biz. The US's oldest bank said it would [hold](https://www.wsj.com/articles/americas-oldest-bank-bny-mellon-will-hold-that-crypto-now-11665460354) customers' __[bitcoin](https://robinhood.com/crypto/BTC/)__ and __[ether](https://robinhood.com/crypto/ETH/)__. It's not alone: __[Nasdaq](https://robinhood.com/stocks/NDAQ/)__ will also offer institutional investors a custody service.
- 🤔 __Sus…__ Crypto thieves have [looted](https://www.bloomberg.com/news/articles/2022-10-13/crypto-hackers-set-for-record-year-after-looting-over-3-billion) $718M this month alone, stealing $3B+ this year (approaching a record). The weak link: decentralized finance. DeFi is permissionless and ruled by smart contracts (aka: code), making it a ripe target for hackers.
- 🤖 __Techy…__ __[Google](https://robinhood.com/stocks/GOOGL/)__ signed a deal with __[Coinbase](https://robinhood.com/stocks/COIN/)__ to facilitate cloud [payments](https://www.cnbc.com/2022/10/11/google-selects-coinbase-to-take-cloud-payments-with-cryptocurrencies.html) in crypto (think: cloud-storage bills paid in __[dogecoin](https://robinhood.com/crypto/DOGE/)__). The crypto exchange will earn a % of transactions and move its own cloud biz to Google (bye, AWS).

Cloudy

The Crypto Catch-Up…

Inflation’s still riding high as earnings dawn, dashing hopes of an early Fed reversal

El Salvador has lost about $60M on its nationwide bitcoin experiment in just one year 

🏖️ No inflation vacation

__Shocking…__ A BBC investigation [found](https://www.bbc.com/news/world-63213567) that __ByteDance__-owned TikTok is profiting from donations on charitable live streams, which have gained popularity. The BBC went on the ground in war-torn Syria, where displaced families living in camps are begging for donations to cover everything from food to medical care — all through TikTok live streams. What the BBC reported:

- __TikTok is said to pocket up to 70% of donations__ collected via live streams. For five months the BBC scraped info from 30 accounts broadcasting live from Syrian camps. Some streams earned up to $1K/hour, but families said they received a tiny fraction of that.
- __TikTok’s response:__ Gen Z’s favorite app said this type of content isn’t allowed on its platform, and added it would take action against “exploitative begging.” But TikTok failed to explain why it’s reported to have taken a cut of the live streams if they’re not allowed. 
- __Doesn’t add up:__ TikTok said the commission that it takes from digital gifts is significantly less than 70%. But a BBC reporter in Syria tested it out and said TikTok had kept about 70% of the proceeds from his live stream. 

__Lions and roses…__ TikTok live-stream viewers can send digital gifts — ranging from roses (which cost a few cents) to lions (which cost $500) — to tip creators or donate to people in need. The BBC found that the Syrian live-stream trend was facilitated by “TikTok middlemen,” who said they worked with agencies affiliated with TikTok in Asia and provided needy families with phones and accounts to go live.

ByteDance’s TikTok faces scrutiny… again (Yan Guolin/Getty Images)

Investigate

__It could be TikTok’s lowest blow…__ The world’s most popular app is no stranger to accusations of [sketchy practices](https://snacks.robinhood.com/newsletters/1XRABkCiKwZJR7JrLA4kpP/articles/1A1qbAnfT0zo8MBTBOy2Jy/) — from boosting harmful content to censoring content at China’s behest. But if the BBC’s findings are accurate, it could be its worst scandal. Over 1B people use TikTok to stay up to date with news, engage with trends, and donate to their favorite causes. This report could permanently bruise TikTok’s reputation.

TikTok is pocketing up to 70% of donations from charitable live streams, the BBC found

__Fall-fit shopping gets less cringe…__ Hollister rolled out a check-out option that makes shopping with Mom and Dad less embarrassing. On Tuesday, the California-style teen retailer [rolled out](https://www.globenewswire.com/news-release/2022/10/11/2531842/0/en/Hollister-Launches-Share2Pay-Retail-Industry-First-and-New-Way-to-Pay.html) “Share2Pay,” which lets shoppers share their carts with parents (no awkward mall trips required). 

- __How it works:__ US and UK customers can text their digital shopping carts to the buyer (aka: Mom and Dad), who can use the link to add or remove items before paying. 
- __How it’s doing:__ After a soft launch, Hollister said customers who used Share2Pay placed orders nearly twice as often as those who didn't.
- __Corporate parent:__ Hollister makes up over half of __[Abercrombie’s](https://robinhood.com/stocks/ANF/)__ sales. But while Abercrombie’s namesake sales jumped 5% last quarter (thank: more jean sizes, fewer logos), Hollister’s fell 15% and Abercrombie reported a surprise loss.

__“Enjoy the bucket hat, sweetie”...__ Gen Z accounts for a massive $360B in disposable spending power, more than double the estimate from three years ago. But with more teens interested in [saving](https://fortune.com/2022/10/12/gen-z-doesnt-want-to-make-the-same-mistake-millennials-did-with-the-great-recession/) for retirement versus splurging, retailers are trying to boost sales by easing friction between the shopper and the *payer*:

- __[Amazon](https://robinhood.com/stocks/AMZN/)__ launched “Amazon Teen” in 2017, letting parents set spending limits and approve their teens’ purchases before paying.
- __[Apple](https://robinhood.com/stocks/AAPL/)__ has an “Ask to Buy” [feature](https://support.apple.com/en-us/HT201089) that sends a request to the family account holder when kids want to buy or download a product.

Mommy

__Abandoned carts are a multibillion-dollar problem…__ Nearly 70% of online shopping carts are abandoned, costing retailers $18B in lost annual sales. It’s even harder for tween-fave brands like Hollister (only half of its Gen Z [demo](https://support.apple.com/en-us/HT201089) has credit cards). Now retailers are targeting a more reliable source to get shoppers to the finish line: their parents.

Hollister will let teens share orders with parents as retailers struggle with the “abandoned cart” problem

TikTok pockets up to 70% of donations from charitable live streams, the BBC found

It can cost more to watch NFL games at Vegas casinos than to attend the games

💸 TikTok's digital gift grab

__The gig is up…__ Yesterday the Labor Department [announced](https://www.reuters.com/world/us/new-biden-labor-rule-would-make-contractors-into-employees-2022-10-11/) a proposal that could classify millions of gig workers (think: delivery drivers, janitors, and home-care aides) as employees rather than independent contractors. Over a third of US workers have performed freelance labor in the past year — and low-income Americans disproportionately rely on gig work. The rule would guide judges and companies, and will be formally published on Thursday, kicking off a 45-day public-comment period (with the final rule expected next year). Why it’s big: 

- __For workers:__ Being misclassified as a contractor means fewer labor protections and potential wage theft. But some business lobbying groups argue that a broad rule would hurt workers who want to have flexible hours and stay independent. 
- __For employers:__ Reclassifying workers as employees would mean higher spending, since hiring contractors can cut labor costs by up to 30%. But the majority of gig workers say they’d prefer *not* to be gig workers.

__Eyes on the road…__ App drivers are synonymous with the gig economy, and __[Uber](https://robinhood.com/stocks/UBER/)__, __[Lyft](https://robinhood.com/stocks/LYFT/)__, and __[DoorDash](https://robinhood.com/stocks/DASH/)__ shares sank after the news. Refresher: in 2019 California legislators passed AB5, a landmark bill that reclassified many of the state’s app-based gig workers as employees. App giants have spent over $200M lobbying for their drivers to be exempt under Prop 22, which [passed](https://snacks.robinhood.com/newsletters/7jMUu1TK8PviqbKCFjQhjC/articles/f06IOakKwXbXOcwTVNbjX/) but was later declared unconstitutional.

Cruising app to app (Jeremy Drey/Getty Images)

__The gig playbook could be rewritten…__ When AB5 passed, Uber and Lyft issued SEC filings saying it would destroy their gig-dependent models. Companies are required to pay employees a minimum wage, provide overtime pay, cover a portion of Social Security taxes, and contribute to unemployment insurance. Unlike the CA law, the Labor Department’s new proposal could have nationwide consequences.

The US Labor Department could grant millions of contractors employee status — and reshape the entire gig economy

__EVs were just the start…__ __[General Motors](https://robinhood.com/stocks/GM/)__ has plans to expand its battery biz. Yesterday the auto giant [said](https://www.cnbc.com/2022/10/11/gm-energy-launches-to-connect-homes-businesses-with-ev-chargers-energy-storage.html) it’s launching a unit called GM Energy that’ll sell “energy management” products, like batteries and solar panels. GM’s investing billions in EV tech as part of its plan to produce *only* electric cars, like the Chevy Bolt and the Hummer EV, by 2035. But it may’ve found another use for its tech:

- __Hard + soft:__ GM Energy will sell hardware (think: home batteries and solar panels) and software (think: tech to link EVs and homes to energy grids) starting next year. Its software could help companies manage efficient charging for entire EV fleets. 
- __Home + office:__ GM is making energy products for individuals and businesses. You could use its batteries and panels to keep the lights on during outages or make $$ selling extra solar energy to the grid. 

__Not exactly leading the charge…__ GM isn’t the first automaker to enter the energy-management industry, estimated to be a $125B to $250B market. __[Tesla](https://robinhood.com/stocks/TSLA/)__ launched its energy-storage division, Powerwall, in 2015 — and last quarter the home-battery biz raked in $866M in revenue. And in June __[Toyota](https://robinhood.com/stocks/TM/)__ began selling its residential battery system to customers in Japan.

Energized

__Rivalries can lead to surprising spinoffs…__ During the space race, NASA’s massive R&D investment led to unrelated innovations, like Lasik eye surgery and memory-foam mattresses. Today the EV race is also yielding successful spinoff industries like energy-management solutions, smart-car software, and data-driven insurance. Another example: last year GM launched BrightDrop, which sells electric vans and fleet-management software to clients including __[FedEx](https://robinhood.com/stocks/FDX/)__.

General Motors launches an energy-storage business, ramping up its rivalry with Tesla

📱 The Labor Dept could grant millions of contractors employee status, reshaping the gig world

Unlike the rest of our solar system’s planets, Venus and Uranus rotate east to west

📱 The big gig shakeup

__Rare [Rivian](https://robinhood.com/stocks/RIVN/) sighting on I-90…__ had to snap a pic. Rivian’s e-pickups look like something out of the future, but the __[Amazon](https://robinhood.com/stocks/AMZN/)__-backed EV maker has built only 15.3K vehicles since starting production last fall. That’s partly why this news hit investors hard: on Friday, Rivian [said](https://www.cnbc.com/2022/10/10/rivian-shares-after-the-company-announced-a-big-recall.html) it was recalling 12K vehicles to double-check that a fastener in the steering assembly was safely tightened. Rivian estimates just 1% of vehicles have the defect, and plans to complete the checks and repairs within 30 days. 

- __Bad news:__ Rivian stock plunged 7% yesterday and is down 69% this year. Since IPO’ing in November, Rivian has fallen short of production targets and disappointed on forecasts. 
- __Good news:__ Last week Rivian reported its best quarter yet with 7.3K EVs built from July to September and said it was on track to make 25K vehicles this year (as targeted). 

__Save a horse…__ drive an e-truck. Rivian became the first to bring e-pickups to customers’ driveways, but the competition’s heating up. In December __[GM’s](https://robinhood.com/stocks/GM/)__ Hummer EV rolled out, and customers began receiving __[Ford’s](https://robinhood.com/stocks/F/)__ F-150 e-pickup in May. This month, __[Lordstown Motors](https://robinhood.com/stocks/RIDE/)__ said it has (slowly) started production of its Endurance e-truck. We’re still waiting on __[Tesla’s](https://robinhood.com/stocks/TSLA/)__ Cybertruck…

Newly minted, slightly dented (Justin Sullivan/Getty Images)

Pickup

__Reputation matters more than money…__ especially when competition is hot. The recall isn’t likely to make a dent in Rivian’s coffers: it had an impressive $15.5B in cash on hand as of last quarter (way more than most of its rivals). But the scale of this recall — plus the fact that Rivian said the fastener issue could, in rare instances, lead to a loss of steering control — has already dented its rep.

Rivian recalls nearly all its electric trucks over safety concerns, denting its newly minted rep

__Blockchain bridges…__ are showing cracks. Crypto bridges let people move coins between different blockchains (think: __[bitcoin](https://robinhood.com/crypto/BTC/)__ to __[ethereum](https://robinhood.com/crypto/ETH/)__) and are a crucial pillar of decentralized finance (DeFi). On Thursday [hackers](https://www.bloomberg.com/news/articles/2022-10-07/binance-coin-100-million-hack-is-reminder-crypto-bridges-are-weak-link) got their hands on $570M in crypto by exploiting a [cross-chain bridge](https://snacks.robinhood.com/newsletters/f8suYXqPD4YTOYUaoKShp/articles/75PhXHd2sIDVNK6TcV8jy4/) between the __Binance__-affiliated BNB Beacon Chain and BNB Smart Chain.

__A crypto cure…__ worse than the DeFi disease. Binance tried to calm hack-weary investors with a statement saying that a majority of the illicit coins had been frozen — hackers did successfully move $100M out of the Binance ecosystem (still nothing to sneeze at). Good news, though, right? Maybe not. The centralized devil is in the details: 

- __Hotchain:__ Blockchains brag about being decentralized and censorship-resistant. It's a big selling point. 
- __Lockchain:__ To thwart last week's hackers, 19 of BNB Smart Chain's 26 validators agreed to pause the entire chain, a rare move that temporarily prevented withdrawals and deposits.
- __Notchain:__ Freezing solved one problem (think: hackers making off with the full $570M), but it raised another: is a chain truly decentralized if a small group of people can suspend it?

CeFi

__Bridges are crypto’s Achilles’ heel…__ Crypto-bridge hackers have snatched over $2B, including $625M from __Ronin__ and $325M from __Wormhole__ earlier this year. But it's not just $$ at stake: hacked cross-chain bridges show that vital DeFi infrastructure remains vulnerable to thieves. And if a fix isn't found, fears of even larger losses could lead to increasingly drastic responses, which threaten to undermine crypto's core premise: decentralization.

A crypto bridge was hit with a $570M hack, which led to a paused blockchain and centralization concerns

Rivian recalls nearly all its electric trucks over safety concerns, denting its new rep

Every year the US harvests over 1B pounds of pumpkins

🛻 Rivian’s rocky recall

__Payment problems…__ As a global recession looms, ecomm giants are [launching](https://techcrunch.com/2022/10/03/amazon-hub-affordable-shopping-options/) more affordable payment options — because more shoppers need them. Americans burned through their pandemic savings faster than anticipated this year as prices surged at the fastest pace in four decades. With consumers further tightening their belts, online retailers are trying to make shopping more accessible: 

- __Prime relief:__ This month __[Amazon](https://robinhood.com/stocks/AMZN/)__ launched an “Access” hub for customers to explore affordable options (think: discounts, coupons, and EBT SNAP payments — aka: digital food stamps). Shoppers who receive government assistance can get discounted Prime memberships, pay over time, and shop without cards. 
- __Full carts, can’t lose:__ Last month __Instacart__ said it would expand its SNAP program in the coming years to help low-income shoppers buy essentials like diapers, which aren’t covered under food-exclusive SNAP.
- __Delivering assistance:__ A growing number of food banks are using __[DoorDash](https://robinhood.com/stocks/DASH/)__ and Amazon to deliver nourishment to people in need.

__Unwelcome U-turn…__ Poverty is making a regrettable rebound. US poverty plummeted to record lows during the pandemic thanks to massive government stimulus. Now that federal aid has dried up and many pandemic benefit programs have disappeared, experts predict US poverty could soon hit a 50-year high. 

- __Less spending:__ Inflation-adjusted spending at stores and restaurants has dropped since April (barring an unexpected August bump).
- __Missed payments:__ Shoppers who can’t pay for gas and groceries up front are [racking](https://snacks.robinhood.com/newsletters/35lzRs5F4ifGlwO2EylF4f/articles/5EJsoxWGwhdhZYCpcJ7lj/) up “buy now, pay later” late fees, and even defaulting on their loans.

Snap

__It isn’t just corporate altruism…__ Companies like Amazon want to keep customers spending, even during hard times. Industry titans can actually boost their market share during recessions by keeping prices low (they can afford to): that’s what __[McDonald’s](https://robinhood.com/stocks/MCD/)__ did in 2008. Amazon may be next: research suggests Americans are more likely to cut food spending than cancel their Prime subscriptions.

Amazon and other ecomm giants add food-stamp-friendly options as more Americans struggle to pay

__Take it to the bank…__ Banks kick off earnings season this week, with __[JPMorgan Chase](https://robinhood.com/stocks/JPM/)__, __[Citi](https://robinhood.com/stocks/C/)__, __[Wells Fargo](https://robinhood.com/stocks/WFC/)__, and __[Morgan Stanley](https://robinhood.com/stocks/MS/)__ dropping Q3 numbers. Last quarter’s theme: soaring interest rates. High rates are good for banks because they earn higher returns off customers’ idle cash and loans. They’re also bad for banks because they discourage borrowing, spending, and investing. Analysts expect banks will (again) report lower earnings than last year. The IPO-and-merger boom of 2021 is over, so lower deal-making revenue’s expected.

__Break out the Biscoffs…__ __[Delta’s](https://robinhood.com/stocks/DAL/)__ revenue nearly doubled last quarter thanks to strong vacay demand. Airlines are expected to report frothy sales for their latest quarter after summer excursions rebounded to prepandemic levels. But with holiday airfares set to be the priciest in five years, more Americans might just celebrate at home. Airline stocks have lost altitude this year, and the industry’s typical domestic holiday boom could fizzle (even with Europe “on sale”). We’ll see whether inflation cloud’s Delta’s forecast when it reports Thursday. 

__E.T. phone home…__ more like UN phone Jerome. Last week, the United Nations [called](https://www.wsj.com/articles/u-n-calls-on-fed-other-central-banks-to-halt-interest-rate-increases-11664809202?mod=hp_lead_pos11) on the US Fed and other central banks to stop their aggressive interest-rate hikes. A UN agency warned that the global economy was “on the edge of a recession” and that further monetary tightening risks pushing it to a prolonged downturn worse than the ’08 financial crisis. As the USD has [strengthened](https://snacks.robinhood.com/newsletters/pEHJ0FjnNspUk0ENYjDzb/articles/EMyNqtovBtkAfidtByyWL/) on the back of surging rates, debt-laden developing economies are edging closer to default, and could bear the brunt of a worldwide recession.

__Elon’s albatross…__ The Elon vs. __[Twitter](https://robinhood.com/stocks/TWTR/)__ saga has a new plot twist: last week, Elon told the company he'd buy it at his original offer price of $54.20/share, after trying to back out of the deal over what he said were spam-bot issues. Now a Delaware judge has [ruled](https://snacks.robinhood.com/newsletters/60hXCjH8B3zcyai2pfzMdS/articles/1DrraCzB8m5wNXpHmzxhVl/) that Elon has until October 28 to seal the deal if he wants to avoid a trial. If key details (like: debt financing) get resolved, both sides could file a motion to end the pricey lawsuit. Twitter’s A.E. (After Elon) era could begin a new chapter for the internet’s “town square.”

- __[Nescrisis](https://snacks.robinhood.com/newsletters/4OhIHvQOtjoDBNhCDSlKbw/articles/6E0FO4uj0gyxj7To8w6uZq/):__ __[Nestlé](https://robinhood.com/stocks/NSRGY/)__ (aka: the world’s largest coffee company) committed $1B by 2030 to protect coffee from the climate crisis. Think: climate-change-resistant java trees and farming with regenerative methods. 
- __[#Ad](https://snacks.robinhood.com/newsletters/7r6QkT4YuZi0FJ5GbLamjI/articles/6CWFgq99gBSkXJOzzpueJO/):__ Kim Kardashian agreed to pay a $1.3M fine to settle SEC charges related to an Insta post promoting alt coin EthereumMax. The Kim crackdown is a sign that securities regulators are marking their territory in the crypto-sphere. 
- __[Gassy](https://snacks.robinhood.com/newsletters/gTMMqg6P0rsxvvaIiqo3i/articles/3WTHGVZKd0d7gHWcznstLF/):__ OPEC, Russia, and other allies will curb oil production by 2M barrels a day — the biggest cut since 2020. It’s a blow to the US and G7 allies who want low oil prices for consumers (and to punish President Putin).

Amazon and other ecomm giants add food-stamp-friendly options as shoppers struggle to pay

Priced, packaged, and primed (Joshua Lott/Getty Images)

In just 48 years the world population has doubled and is on pace to hit 8B this year

👛 Amazon’s EBT economics

__Texting “jack jack”...__ Elon’s pet name for __[Twitter](https://robinhood.com/stocks/TWTR/)__ founder Jack Dorsey. Last week, a trove of texts were made public ahead of the Elon v. Twitter trial — and pet names weren’t the [cringiest](https://techcrunch.com/2022/09/29/elon-musk-texts-discovery-twitter/) revelation in Elon’s messages. The latest season of the Elon-Twitter saga heated up this week, with some Emmy-worthy plot points: 

- __NVM:__ Elon told Twitter he'd buy the company at his original offer price of $54.20 per share, after aggressively trying to back out of the deal over what he said were spam-bot issues. Musk’s legal team reportedly likely lost confidence it could win.
- __Blue bird flies:__ Twitter shares have popped 15% since Tuesday, but are still lower than Elon’s offer price (many say he’s overpaying for the struggling company). 
- __Hot court date:__ Yesterday Musk [said](https://www.cnbc.com/2022/10/06/musk-seeks-to-stop-oct-17-trial-date-to-close-twitter-deal-on-original-terms.html) he wanted Twitter to call off existing litigation so that he could close the deal this month. Twitter seems to think Musk’s team is only trying to stall again. The trial was scheduled to start on October 17, but then…

__On the next episode…__ Late yesterday a Delaware judge [ruled](https://www.cnbc.com/2022/10/06/musk-seeks-to-stop-oct-17-trial-date-to-close-twitter-deal-on-original-terms.html) that Elon has until October 28 to seal this deal if he wants to avoid a trial. If the deal doesn’t close, the trial will be moved to November. Key deets still need to be hashed out, including debt financing. If those get resolved, the two sides could file a motion to end the lawsuit (which would save both parties a pricey headache).

Wishing for an acquisition edit button (Yasin Ozturk/Getty Images)

Finale

__It could be just the beginning…__ of Twitter’s A.E. (After Elon) era. If the deal closes, a new chapter begins for the internet’s “town square.” Musk, the self-proclaimed “free-speech absolutist,” wants to loosen moderation rules — including reinstating banned accounts like former President Trump’s. He’s also suggested that an open-source algorithm could address mysteries around how posts are promoted. While some are stoked about Elon’s nebulous plans, others (including many Twitter employees) are [concerned](https://time.com/6170647/elon-musk-twitter-harassment-employees/) about the platform’s safety.

Elon Musk says he wants to close his $44B Twitter-quistion this month, but the saga isn’t over

__Ready, set, shop…__ __TikTok__ is setting the stage for users and businesses to host live shopping events. This week Gen Z’s favorite app [reportedly](https://techcrunch.com/2022/10/03/tiktok-said-to-be-launching-live-shopping-in-the-us/) signed a deal with LA-based streaming platform __TalkShopLive__. TikTok's live shopping platform launched in the UK last year but has struggled with low usage. Now it may try again stateside with TalkShopLive’s tech: 

- __QVC for the social era:__ TSL lets everyone — from __Shein__ haul influencers to amateur home chefs — host live shows. In February it teamed up with __[Walmart](https://robinhood.com/stocks/WMT/)__ for live shopping events. 
- __TalkShopLive lets__ viewers purchase goodies during and after live streams, taking a 10% commission from sellers.

__Buy my #OOTD…__ Live shopping isn’t new, but it’s much more popular in Asia. Last year, China’s live-stream shopping brought in $300B in sales, versus $11B in the US. Now American techies are trying to get in on the action. __[Amazon](https://robinhood.com/stocks/AMZN/)__ leaned on influencers to host Prime Day live streams this year, and __[Meta](https://robinhood.com/stocks/META/)__ launched a live-shopping feature in 2018 — but shut it down last month to focus on Reels. 

- __TikTok owner ByteDance__ tripled its losses last year after spending heavily to expand. Now it’s looking for fresh ways to monetize its 1B+ users.
- __Last year TikTok__ started [allowing](https://snacks.robinhood.com/newsletters/4sQYPGu7XlVaHzU9SWyAuX/) [Shopify](https://robinhood.com/stocks/SHOP/) merchants with a "TikTok for Business" account to add “shopping” tabs to their profiles and create mini storefronts.

TokShop

__You get in where you fit in…__ TikTok is already the home for beauty hauls and cooking tutorials. Now it could use TalkShopLive to fortify its shopping offerings — a draw for merchants and users. Social commerce is predicted to grow 3X as fast as traditional ecommerce over the next three years.

TikTok wants to popularize live shopping in the US as tech giants try to catch up with China’s social-commerce boom

- 🖊️ __Policy…__ Yesterday the EU expanded its Russian sanctions. The target: crypto. Companies can [no longer](https://www.coindesk.com/policy/2022/10/06/eus-russian-crypto-ban-confirmed-as-bloc-tightens-sanctions/) offer crypto wallets, accounts, or custody services to either the Russian gov or people inside the country. 
- 🤹‍♀️ __Quirky…__ Crypto winter has given rise to 12K+ "[zombie coins](https://www.bloomberg.com/news/articles/2022-10-03/more-than-12-000-crypto-coins-become-zombies-in-digital-asset-slump)." These are tokens that haven't traded *at all* for a month — but because of their decentralized nature can still stumble on (mindlessly or not). 
- 🤔 __Sus…__ Bankrupt crypto lender Celsius shocked its 1.7M users after it froze their accounts (worth $8B) in June. But in May Celsius execs [withdrew](https://www.bloomberg.com/news/articles/2022-10-06/celsius-bosses-withdrew-30-million-in-crypto-before-bankruptcy) over $20M in crypto. Alex Mashinsky stepped down as CEO last month.

Blocked

Elon Musk says he wants to close his $44B Twitter-quistion this month, but the saga isn't over

College undergrads are getting an average of 1.14 job offers before graduation — the highest since before the Great Recession

🐦‍ Twitter’s “After Elon” era

__Uh-OPEC…__ The world’s largest coalition of oil-producing countries just dealt the rest of the world a doozy: yesterday, OPEC, Russia, and other allies [agreed](https://www.cnbc.com/2022/10/05/oil-opec-imposes-deep-production-cuts-in-a-bid-to-shore-up-prices.html) to curb oil production by 2M barrels a day — the biggest cut since 2020. It’s a blow to President Biden, who’d asked OPEC members to boost production to lower US gas costs.

- __Sharp reversal:__ OPEC+ slashed production during lockdown as demand dropped. Then the group ramped up production as the global economy reopened.
- __Putin pleaser:__ While oil prices did spike after Russian President Putin’s invasion of Ukraine, they’ve fallen more than 30% in the past four months on recession fears. After yesterday’s announcement, prices are rising again — helping OPEC+ members (including Russia) but hurting consumers.

__Bundle up…__ it could be a cold winter. European energy prices have set records this year after Russia suspended EU gas deliveries. So EU countries are capping oil companies’ revenues, trying to reduce energy demand, and launching relief funds to offset the rising cost of fuel. Meanwhile, oil giants are pumping huge profits:

- __$hell:__ Last quarter __[Chevron](https://robinhood.com/stocks/CVX/)__, __[Shell](https://robinhood.com/stocks/SHEL/)__, __[TotalEnergies](https://robinhood.com/stocks/TTE/)__, and __[ExxonMobil](https://robinhood.com/stocks/XOM/)__ posted a combined record $51B in profits. Saudi juggernaut __Aramco__ nearly doubled its quarterly profit, raking in a staggering $48B.

Righty tighty (Asaad Niazi/Getty Images)

Gassy

__The global energy divide is deepening…__ The US and its G7 allies want to keep oil prices low for consumers (and to punish Putin). But Saudi Arabia, Russia, and their 21 OPEC+ allies want to keep prices high (and profits gushing) — *and* they control most oil exports. To secure their energy independence, Western countries are getting creative: Europe’s reopening closed nuclear facilities and the US is tapping its strategic reserves (short term) and investing more in renewables (long term).

OPEC+ cuts oil production despite US objections, deepening the global energy divide

__Pizza robots are on the rise…__ and even Jay-Z's giving them dough. The rapper turned VC [invested](https://fortune.com/2022/10/05/jay-z-investment-stellar-robo-pizza-truck-mvp-spacex-marcy-venture-partners/) $16.5M in __Stellar Pizza__ — a mobile robo-powered restaurant — that’s said to crank out as many as 420 (ahem) pizzas a day. Stellar's the brainchild of three former __SpaceX__ engineers, who describe their mechanical baby as a "spaceship on wheels." That ship comes with rocket-like speed: 

- __30 minutes or (way) less:__ Stellar says its pie-robot can assemble and cook a pizza in under 5 minutes. 
- __It's not (human) delivery:__ Because the resto is mobile (picture: a big truck), it can double as the delivery vehicle. 

__Metal-handcrafted…__ Stellar isn't the only up-and-comer getting into the bionic-baking biz. Both __PizzaHQ__ (New Jersey) and __Picnic Works__ (Seattle) offer some form of automated pie-assembly line. And that's just 'za: __[Chipotle](https://robinhood.com/stocks/CMG/)__ is looking to [chip-making machines](https://snacks.robinhood.com/newsletters/7tknxJYNWeFHQETXVJaHeu/articles/569KUmWnGqKyDCJAdHLbVe/) and __[Jack in the Box](https://robinhood.com/stocks/JACK/)__ embraced a french-fry bot. While the innovations may seem futuristic, the motivations appear timeless: $$. 

- __Automate profits:__ Paying workers and renting shops cost money. A robot-staffed food truck (that doubles as a kitchen) is a shiny alternative for investors looking for a bite of the restaurant biz.

Piping

__Robo-restaurants could change the dining landscape…__ but the proof will be in the pudding. Stellar's founders hype up the company's cutting-edge tech, but mechanized mobile 'za has been tried (unsuccessfully) before. Whether or not the $898B restaurant industry swaps human employees for machines may come down to whether the latter can deliver good-tasting pizza with cash-saving results.

Robot pizza maker gets VC cash as the resto biz looks to automate away labor costs

Bears preparing for hibernation can eat dozens of salmon — and gain up to 4 pounds — a day