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Hey Snackers,
Whether your fortunes fell or rose in 2025 (and we hope itās the latter!), count your blessings that you didnāt bank your business on batteries for Teslaās Cybertruck: a South Korean company, L&F Co., has written down the value of its Tesla contract by more than 99% ā another sign that Cybertruck sales are faltering. The company slashed a contract valued at nearly $3 billion in 2023 to less than the amount of the now expired EV tax credit.Ā
The S&P 500 and Nasdaq 100 posted small declines on Tuesday while the Russell 2000 lagged with a drop of 0.8%. Minutes from the Fedās December meeting showed that most of the Fedās policymakers anticipate further rate cuts next year.
Looking back at 2025 in charts
2025 was a busy year for news. What with whipsawing tariffs, booming AI data centers, driverless taxis, flying cars, weight-loss drugs, and billionaire beefs... it was a lot. As we look back on this eventful year that broke all the rules, we dug into our archives to find the charts and visualizations that we made to help break it all down for you, our dear readers.
Itās so much that weāve got one highlight from each section here for you, but thereās much more to dig into in the online version here.
š Markets
The biggest tech companies got even bigger
Tech companies entered the $4 trillion market cap club ā $5 trillion in Nvidiaās case ā and exited. Currently, Nvidia and Apple are the only companies to have retained the vaunted membership.
š¬ Entertainment and culture
Just how many ads are there on ad-supported streaming apps, really?
Way back at the beginning of this year, we plopped down on a couch to find out just how many ads you see for select episodes of top shows. We saved you the pain of having to go through hours of episodes on Netflix, Peacock, Disney+, Max, Paramount+, and Hulu to count them. Now itās likely much higher, as companies like Netflix build out their ad tech and woo advertisers over to streaming.
šµ Economy / government
All that glitters
While we have been following the rising price of gold, weāve also been keeping an eye on the increasing amounts of gold leaf appearing in the Oval Office. Over the course of this year, President Trumpās obsession with all things gilded resulted in a week-by-week increase in the number of chalices, medallions, and cartouches, which look like they were bought in bulk. We documented the golden doodads and made a handy visual to show just how much of the office is now covered in gold.
From Airline to AI-Enabled Platform: This Company is Targeting 2026 Commercial Software Launch
Surf Air Mobility (NYSE: SRFM) is building the infrastructure to help unlock growth in the private aviation and air mobility industries.Ā
Their AI-enabled software, SurfOS, is designed to integrate the ecosystem under one unified platform. Deployed within SRFM's own operations, SurfOS is helping deliver measurable results in its core businesses, including a 75% increase in platform transactions1 and 197% increase in bookings per broker,1 in its On Demand business.
In partnership with Palantir, Surf Air Mobility is preparing to launch SurfOS commercially in 2026. Powered by Palantir's AI and data platform, SurfOS aims to set a new standard for intelligent aviation software and scale its impactĀ across the private aviation and air mobility industries.
āļø Transportation
Airline margins are going down
Airlinesā move to upsell customers on perks like premium seats belie their downward trend in profits. An analysis of company reports and data from the Bureau of Transportation Statistics shows that between 2021 and 2024, the big four US airlines earned approximately $5.51 in profit per passenger ā down sharply from the four years leading into the pandemic (2016 to 2019), when the companiesā profit per passenger averaged $19.26.
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š¤ AI and technology
AI valuations head into the stratosphere
Each new AI funding round has sent AI startup valuations dramatically higher, with several now worth more than $100 billion. Reports have said that OpenAI, valued at $500 billion in its latest round, could IPO next year at an eye-watering $1 trillion valuation.
š¦ Tariffs
Eli Lilly may have found a tariff work-around
Desperate times called for desperate measures. A number of companies, including Apple, sought ways to get ahead of the tariffs. By May of this year, Eli Lilly imported 3x as many of its GLP-1 weight-loss and diabetes drugs than it had in years prior ā a measure presumably meant to avoid looming tariffs.
THE TAKEAWAY
2025 has been a wild ride of a year, but one way weāve found to make order of chaos is through the lens of data, and hope it helps us predict what 2026 will bring.
A big shift in transportation is taking flight
Surf Air Mobility is seeking to transform the future of air mobility through its AI-enabled software. By streamlining operations, its SurfOS software aims to create a more efficient and more accessible way to fly.
Learn more about the company redefining the future of air travel.2
Snacks Shots
š College Playoffs: Itās the College Football Playoff Quarterfinal. Today, Miami faces Ohio State in the Cotton Bowl Classic, where Ohio State is favored* with a 76% chance to win. Then on New Yearās Day, Oregon faces Texas Tech in the Orange Bowl (with Oregon favored at 54%), the Rose Bowl sees Alabama take on No. 1 Indiana (with Indiana favored at 67%), and Ole Miss and Georgia convene on the Sugar Bowl that evening, with Georgia having a 69% chance to win.
š NFL: There are two games between the final four teams on the bubble this weekend. First up is Panthers-Buccaneers on Saturday, with Tampa Bay as the 60% favorite. Then on Sunday evening itās the game to decide the champion of the AFC North, with the Baltimore Ravens seeing a 64% chance over the Pittsburgh Steelersā 36%.
š„ MVP: Monday nightās Falcons-Rams game had somewhat limited importance for the playoffs, but hot dang did it move the needle on the MVP race. Los Angelesā Matt Stafford had a crummy game ā two touchdowns, sure, but three picks and a missed crucial throw at the endgame ā while his main rival for MVP, New Englandās Drake Maye, had a solid Sunday. This essentially has inverted the MVP race from where it was as recently as Saturday, with Maye now given a 76% chance of winning and Stafford only 23%.
*Event contracts are offered through Robinhood Derivatives, LLC ā probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
What else we're Snackin'
Why one of Dan Ivesā top five AI stocks for 2026 is Apple, despite its āinvisible AI strategyā
RBC Capital Marketsā US strategist sees big stock gains in 2026, and not just in the Magnificent 7
Speaking of the Mag 7, analysts keep revising their estimates for Teslaās Q4 delivery numbers, and theyāre all heading lower
Surf Air Mobility aims to transform regional air travel with its proprietary SurfOS AI-enabled software powered by Palantir and electrified aircraft program, building a more connected and efficient future of aviation.2
Snack Fact of the Day
Japanese memory chip maker Kioxia is the āworldās best performing stockā in 2025.
Wednesday
Initial jobless claims
Advertiser's disclosures:
Ā¹ Comparing Q3 2024 with Q3 2025. See Press Release for further details.
Ā² Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal. Before investing, carefully assess whether a particular stock aligns with your investment objectives, risk tolerance, and financial situation.
This is a paid advertisement for Surf Air Mobility, Inc.