Hey Snackers,
Do you know what a Gaussian splat or a petaflop is? Nvidia CEO Jensen Huang wore his usual black leather jacket and gave a buzzword-filled keynote that tested the tech lingo expertise of our most knowledgeable friends. See how you hold up with our supercut of Jensen’s jargon.
The stock market rally crescendoed on Wednesday after the Federal Reserve signaled its willingness to continue to cut rates even if tariffs keep inflation above its target. Beaten-up megacap tech companies and heavily shorted shares were among the biggest beneficiaries of the central bank’s messaging. The S&P 500 rose 1.1%, the Nasdaq 100 was up 1.3%, and the Russell 2000 led the way with a 1.6% gain.
The fed doesn’t cut but…
No one was really expecting the Federal Reserve to slash rates at yesterday’s meeting, and that was exactly right, with the central bank holding rates steady at a range of 4.25% to 4.5%.
What people were listening for was the forecast for the year ahead, and the so-called “dot plot” showed that the median Fed official thinks 50 basis points of rate cuts will be appropriate this year, followed by another 50 basis points next year, same as it did in December.
There were some changes, though: the central bank cut its 2025 GDP forecast to 1.7% from 2.1% and raised its forecast for core PCE inflation to 2.8% from 2.5%. Importantly, the prospect of less progress in getting inflation down to its 2% target isn’t derailing plans to cut rates going forward.
Wall Street very much liked hearing that last bit and Big Tech helped drive a market rally, as our chart above shows.
The Takeaway
Neil Dutta, head of US economics at Renaissance Macro Research, attributed the decent reaction to the market being more optimistic than the Federal Reserve that inflation will come down. There’s no question that “uncertainty around the economic outlook has increased,” as the policy statement said, but the central bank, despite becoming more concerned about the impact of President Trump’s tariffs, is not so worried as to change its plans. For now.
🎮 Celebrity-Backed Startup Raises $40M to Transform Gaming
Meet Virtuix. It’s the company behind Omni, a leading omni-directional treadmill that lets players walk and run in 360 degrees inside VR games.
How’s It Going?
✅ $18M+ in lifetime revenue1 — with products sold to major companies like Dave & Buster’s.
✅ Omni One launched September 2024 — Virtuix’s first home system, following 3,000+ preorders worth $7M+ in revenue.
✅ Enterprise & Military Expansion — developing VR training systems in collaboration with the U.S. Air Force.
✅ Industry-Leading IP—24 patents issued, 8 pending, covering motion tracking, game integration, and mechanical design.
The Even More Exciting News?
With $40M+ raised across all offerings and from well-known investors like Mark Cuban, Maveron, and Scout Ventures, Virtuix is offering investors the chance to own a stake in the future of immersive gaming.2 Early bird perks end soon. 3
1 Lifetime revenue is since December 20, 2013.
Most new apps don’t just fail — they completely bomb
The number of apps on my phone is frankly embarrassing. Not once has that stopped me from adding another one, but I, like many, do carefully curate what’s on my home screen, and apps want to be on that page. The increasingly competitive battle for space on our precious home screens is a high-stakes one for new apps, which desperately need attention — and subscription dollars — to survive.
A new report found that a shockingly low number of apps made over $1,000 a month within two years of launch, as our Sankey diagram shows.
The Takeaway
Subscription dollars aren’t enough to keep most apps alive, which are increasingly moving to hybrid models of monetization, like consumable or lifetime purchases, to survive. As long as it keeps those infuriating mobile ads off our phones, many people are willing to pay, either monthly or yearly, for a service that adds real value to their lives.
The Best Thing We Read Today
The US and China have inflation problems
Since the pandemic, the world’s biggest economies have been wrestling with two very different problems.
Off The Charts
What behavior does 77% of US adults think is socially unacceptable to do in public, according to a new Pew Research survey?
Yesterday's Big Daily Movers
Intel dropped after a prominent TSMC board member squelched rumors that the Taiwanese giant would take over Intel’s struggling foundry division
Boeing shares rose after Bank of America analysts projected an unexpected rise in deliveries at the end of March
Shopify popped after the e-comm giant announced plans to move its stock listing from the NYSE to the Nasdaq
What Else We're Snackin'
The SEC dropped its appeal against Ripple in a “resounding victory” for the crypto industry
Is Elon Musk’s X worth $32 billion or $44 billion? Depends on who you ask
Etsy has erased its pandemic-era gains, but eBay has held up better
When a movie gets mired in controversy, this tiny studio will buy it at a discount
Snack Fact of the Day
Last year, e-commerce sales soared to a record $1.2 trillion.
Thursday's Events
Earnings expected from Nike, Micron, FedEx, Darden Restaurants, and Lennar
2 Please read the offering circular and related risks at the StartEngine webpage for Virtuix. This is a paid advertisement for Virtuix’s Regulation CF Offering. This Reg CF offering is made available through StartEngine Primary, LLC.
Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities.
This was a paid for ad. Sherwood Media has been compensated for this ad by the Virtuix Reg CF Campaign hosted on StartEngine.
3 Early Bird Perks are 10% bonus shares. To receive these, you must invest between February 20th and March 22nd 9:49 AM EST.