As if finding a job weren’t hard enough, CEOs are competing for attention in LinkedIn feeds. The site, once used for employment opps, has been flooded with big-boss thought leadership.
The S&P 500 closed at its highest level ever yesterday as investors found relief in stronger-than-expected econ data. And Treasury Secretary Janet Yellen said the US was on a path to a soft landing.
🎙️ Big news! The Snacks team has been cookin’ up a fresh project, and it’s launching next week. Get a peek on Spotify or Apple Podcasts. 💅 Very demure, very quizzy: The Snacks Seven quiz requires you to be very mindful of the past week’s biz news. Try the first q: |
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The limits of parkour… French video-game maker Ubisoft is losing tons of experience points. This week the publisher announced it would delay its highly anticipated “Assassin’s Creed Shadows” game until next year. It also said sales of its blockbuster title “Star Wars Outlaws” disappointed. Ubisoft lowered its fiscal-year sales and profit outlook, and its shares sank to a decade low — down more than 60% in the past year.
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- We got not much before “GTA 6”… The “Assassin’s Creed” delay will cost Ubisoft an extra $22M, and the game will now drop in a year filled with major releases, including Take-Two’s “Grand Theft Auto 6” and Sony’s “Ghost of Yotei.”
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Long level: Ubisoft’s other recent projects, like “Skull and Bones” and an “Avatar” game, have fallen short of expectations. In July it delayed two major mobile titles until next year.
- Rough lobby: An activist investor said it’s gained support of 10% of Ubisoft’s shareholders to push for the board to sell the company or take it private.
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A hard (mode) year… Since last year, game publishers have been slashing costs to cover growing production price tags (“GTA 6” has a rumored $2B budget). This year, several studios have been closed and an estimated 12.7K workers have been laid off from companies like Microsoft, EA, and Riot. That’s led to unionization pushes at studios including “Fallout” maker Bethesda. Capping things off, SAG-AFTRA’s now two-month strike against video-game companies expanded this week to “League of Legends.”
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It’s dangerous to go alone… Ubisoft is a major publisher but lacks the diversified revenue safety nets that larger rivals like Microsoft and Sony have. While it survived a wave of pandemic consolidation (Take-Two bought Zynga, Microsoft bought Activision Blizzard, and Sony bought Bungie), with further delays and investor pressure Ubisoft could struggle to remain a solo operation. |
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You Won’t Get Chased on This Hunt
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Deep underneath the earth lies a reserve of raw material that’s becoming one of the most coveted and important metals of the 21st century. As the key component in batteries for phones and EVs — and with demand projected to increase 20X by 2040 — it could make or break the future of energy.
Thankfully, EnergyX has a new technology to mine it... fast.
We’re talking about lithium, and EnergyX’s patented tech extracts it 300% more efficiently than conventional methods. Plus, where extraction typically takes 12+ months, EnergyX needs just two days.
Automaking behemoth GM recently led a $50M investment round in EnergyX — and they’ve got big plans for EVs. EnergyX already earned a $5M DOE grant toward a recently announced US lithium plant and 100,000+ acres of lithium-rich Chilean land. Invest before EnergyX's raise closes on October 3.1 |
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You Won’t Get Chased on This Hunt |
Deep underneath the earth lies a reserve of raw material that’s becoming one of the most coveted and important metals of the 21st century. As the key component in batteries for phones and EVs — and with demand projected to increase 20X by 2040 — it could make or break the future of energy.
Thankfully, EnergyX has a new technology to mine it... fast.
We’re talking about lithium, and EnergyX’s patented tech extracts it 300% more efficiently than conventional methods. Plus, where extraction typically takes 12+ months, EnergyX needs just two days.
Automaking behemoth GM recently led a $50M investment round in EnergyX — and they’ve got big plans for EVs. EnergyX already earned a $5M DOE grant toward a recently announced US lithium plant and 100,000+ acres of lithium-rich Chilean land. Invest before EnergyX's raise closes on October 3.1 |
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Not so fast… Italy’s looking into how Shein does its green marketing. Regulators there launched a probe into Infinite Styles Services, the company that operates Shein’s app and website. Regulators say the fast-fashion juggernaut uses “generic, vague, and confusing and/or misleading” statements to make the brand appear more environmentally friendly. The investigation also calls out an “apparent contradiction” between Shein’s stated commitment to decarbonization and its self-reported greenhouse emissions, which have risen for the past two years.
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- The name is trying hard: EvoluSHEIN (Shein’s sustainability-branded clothing line) is under fire, too, with Italy saying its green marketing could be misleading.
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FYI: It’s estimated that fewer than 1% of garments get recycled, and each year three out of every five pieces of clothing end up in a landfill or are incinerated.
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Fashion’s green screen… The industry creates up to 8% of all global emissions, and that’s expected to balloon by the end of this decade. As demand for cheap fits shows little sign of cooling, regulators are stepping in. This year the EU passed its first greenwashing law, banning companies from using sustainability terms (like “eco-friendly” and “biodegradable”) without evidence. And France’s lower house approved a “kill bill” banning ads for ultra-fast-fashion brands like Shein and Temu.
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- Green apple: Last year New York lawmakers reintroduced The Fashion Act, which would require brands making $100M+/year to be more transparent about the environmental effects of their supply chains.
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Words have a short runway… As climate concerns heat up, regulators aren’t buying empty promises from fashion companies anymore. Experts say a wave of accountability regulations could be a game changer for the industry. In a McKinsey survey, 87% of fashion execs said they believed sustainability regulations would affect their business this year. |
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Cards Against Humanity, which owns land in Texas, is suing the space billionaire, accusing him of ruining its property and reputation, to the tune of $15 million. Read more. |
⚖️ Judgy… Caroline Ellison, the former CEO of FTX’s sister firm, was sentenced to two years in prison for her role in the $8B FTX fraud. The sentence, seen as relatively lenient, came after the prosecution said her testimony was key in the case against Sam Bankman-Fried.
📜 Policy… VP Harris talked up the need for the US to become dominant in blockchain tech and released a proposal that promises to encourage digital assets. The pro-crypto push came as some in the industry second-guessed former Prez Trump.
📸 Flashy… Polymarket is said to be in talks to raise $50M and considering rolling out its own token. The crypto-based prediction market has seen a betting boom, with $1B+ wagered on this year’s US presidential election alone. |
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Shortly after OpenAI CTO Mira Murati announced she was leaving the company, Reuters reported that the CGPT maker plans to ditch its non-profit-controlled status.
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Costco’s sales came in under expectations as customers cut back on big-ticket buys like furniture and electronics.
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California Gov. Gavin Newsom signed his state’s “click to cancel” bill into law, which aims to make it easier for folks to opt out of subscriptions.
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Twitch reportedly told its employees that it wouldn’t follow parent company Amazon’s five-day return-to-office mandate.
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A judge approved a $600M class-action settlement against Norfolk Southern after last year’s toxic train derailment in Ohio.
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Consumer sentiment
- Personal Consumption Expenditures Price Index
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Authors of this Snacks own shares of: Amazon, Apple, Microsoft, and Riot Platforms |
Advertiser's disclosures:
1 Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns.
This is a paid advertisement for EnergyX’s Regulation A+ Offering. Please read the offering circular and related risks at invest.energyx.com.
DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck. |
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