__Need that *Santal 26 White Concrete Candle*...__ stat. Food delivery app __Postmates__ is [launching](https://www.cnbc.com/2020/10/27/holiday-shopping-postmates-to-launch-retail-platform-in-los-angeles-.html) a new retail delivery platform, starting in LA. It includes boutique stores like __[Estee Lauder](https://robinhood.com/stocks/EL)__’s Le Labo, Zadig & Voltaire, and Anastasia Beverly Hills (*soooo* LA). From a "Shop" tab in the Postmates app, users can get clothes, makeup, and home goods dropped off same-day.

- __Postmates__ can capitalize on demand for contactless holiday shopping. 
- __Businesses__ can do the same without building their own delivery tools.

__Ran out of patchouli essential oil...__ Postmates wants to deliver your energy-shifting incense as fast as it drops off truffle pizza. If enough merchants join, Postmates Shop could be an appealing alternative to __[Amazon](https://robinhood.com/stocks/AMZN)__ Prime — especially since Postmates plans to expand it to other cities in 2021.

- __Faster:__ Instead of waiting a few days for your silk pajama set, you can get it as quickly as pad thai (#instantgratification).
- __Local:__  The charming boutiques you used to visit pre-corona probably aren't on Amazon — but they could be on Postmates. 

_Trying to get something delivered pre-Postmates_

Scented

__"Delivery Everything" is here...__ The delivery system is the hardest part. If you have one, you can deliver almost anything — and there’s no better time to start doing that than during a pandemic. That's why food delivery apps have expanded beyond noms. The first step was convenience stores: Postmates x __[Walgreens](https://robinhood.com/stocks/WBA)__, __DoorDash__ x __[CVS](https://robinhood.com/stocks/CVS)__, __Instacart__ x __[7-Eleven](https://robinhood.com/stocks/SVNDY)__. The next step is retail: DoorDash x __[Macy's](https://robinhood.com/stocks/M)__, Instacart x __Sephora__, and Postmates Shop (the boldest delivery pivot of them all).


Postmates reaches peak “Delivery Everything” with LA retail shopping 

__Heard it from a mile away...__ __[Harley-Davidson](https://robinhood.com/stocks/HOG)__ stock surged 22% yesterday after the motorcycle legend reported expectation-beating earnings. Harley's quarterly sales fell 8% compared to a year ago, but *profit* spiked 39%. That's because Harley's new CEO Jochen Zeitz has been majorly [streamlining](https://www.wsj.com/articles/harleys-new-ceo-bets-on-leaner-operations-to-restore-hogs-luster-11603648802):

- __Slash costs:__  Harley laid off ~10% of its employees. It's also closing underperforming dealerships and some international operations to zero in on core markets.
- __Optimize sales:__ Zeitz is cutting ~30% of Harley's least profitable models (hardcore). And he wants customers to pay full price for recently discounted two-wheelers. 

__Bring back the bicep tats...__ and the head bandannas. Before Zeitz took over in February, Harley was chasing a new customer base: Millennials. It tried to win young love with cheaper, smaller rides like electric motorcycles and bikes. The old CEO wanted to launch up to 100 of these models. The *new* CEO doesn't care if a 25-year-old from Williamsburg likes it:

- __Harley's going back to its OG strategy__ of making big, expensive motorcycles for diehard fans. 
- __10 popular models made up more than two-thirds of Harley's sales__. Harley's now honing in on those Baby Boomer favorites instead of its other 27.

Ride

__Harley's choosing short-term gain over long-term growth...__  Harley's cost-slashing, Boomer-focused plan means higher profits *now*. But its US bike sales have fallen for five years straight through 2019. Meanwhile: cuter, youth-friendly motorcycles have lifted sales for rivals like __[Polaris](https://robinhood.com/stocks/PII)__ and __Eicher__. Harley needs to take Millennials along for the ride to notch long-term growth.


Harley-Davidson ditches the pursuit of Millennials to rev up Boomer classics

Dow Jones

S&P 500

Nasdaq

Bitcoin

🛍  Postmates delivers holiday shopping 

__The hot gossip in Canton, Mass...__ __[Dunkin'](https://robinhood.com/stocks/DNKN)__ might go private. The Coolatta-and-cruller legend confirmed it's in sale talks with private equity-backed __Inspire Brands__ (the owner of Arby’s, Sonic, and Jimmy John’s). 

- __Inspire wants some sugar__ with its salty lineup. So it's [reportedly](https://www.cnbc.com/2020/10/26/dunkin-stock-soars-18percent-after-chain-confirms-sale-talks-with-inspire-brands.html) willing to drop nearly $9B to take Dunkin' private.
- __Dunkin' stock surged 16%__ because the price represents a 20% premium over its Friday stock value. By buying Dunkin', Inspire  would more than *double* its total restaurant locations.

__Bang a U-ey...__ Dunkin' has been [fancy-fying](https://snacks.robinhood.com/newsletters/1eTI3nM3ObwPQAeA9cVBNq/articles/6gWeBM3XKjsxrvepcn9nmk/) itself over the years. It dropped "Donuts" from its name, invested in flashy brewing systems, got its employees "espresso certified," and served up oat-milk lattes and Beyond Meat sandwiches. Drive-thrus, green tea Refreshers, and a buzzy deal with TikTok star Charli D’Amelio have boosted its biz during the pandemic. 

- __US same-store sales dipped 19%__ last quarter since you weren't hitting Dunkies before ice hockey practice.
- __But [Starbucks](https://robinhood.com/stocks/SBUX)' sales fell *40%*__ last quarter, making Dunkin' look like the Brady of corona coffee. Dunkin' stock has  climbed much more than Starbs' this year.


_Dunkin' trying to close a private equity deal_

Dunkies

__This is the opposite of a regular PE deal...__  Rule #1 in the private equity playbook: find a struggling company, revamp it, and flip it for more. Dunkin' isn't a fixer-upper: it brought in a record $1.4B in sales and $242M in profit last year, and its stock is at an all-time high. But going private could shield it from the obligations and scrutiny that come with being  public. That gives it more freedom to transform its brand.


Dunkin' might sell itself for $8.8B and go private — but why?

__Check your checking account...__ You might be paying more fees than usual. When we stash cash in an account, banks benefit because they can use that idle money to make *more* cash (by investing or loaning it). That’s why banks often pay interest (usually tiny) on your deposits. Now, Americans are [paying](https://www.bankrate.com/banking/checking/checking-account-survey/) record fees for interest checking accounts *and* getting record-low returns:

- __The average monthly account fee__ is at a high of $15.50. 
- __The average balance needed__ to *avoid* that fee is at a high of $7,550. 
- __[Annual percentage yield](https://learn.robinhood.com/articles/5CLrCuXmQXIKWMye3uZcEM/what-is-annual-percentage-yield-apy/)__ is at a low of 0.04%. 

__Bad news for our wallets...__ Banks raised fees to squeeze more money out of their consumer businesses, which are suffering. As interest rates hit fresh lows, banks got paid less on consumer loans. Meanwhile, cash-strapped Americans used credit cards less and [hoarded](https://www.wsj.com/articles/a-global-rebound-could-be-determined-by-how-freely-households-spend-11603618201) money. To sum up Big Banks' latest quarter:

- __Trading revenue soared:__ __[JPM Chase](https://robinhood.com/stocks/JPM)__, __[Citi](https://robinhood.com/stocks/C)__, and __[Goldman](https://robinhood.com/stocks/GS)__ cashed in on major trading and investment activity for Wall Street clients.
- __Consumer banking revenue fell:__ Chase, Citi, and __[BoA](https://robinhood.com/stocks/BAC)__ saw Main Street banking revenue drop on less credit card swiping and lower interest payments.


Deposit

__Banks' consumer struggles reflect the economy...__ The extra $500/week in unemployment benefits expired in July — right around when banks' latest quarters started. The stimulus check boom is over — that money's spent, and negotiations for a 2nd stimulus have been dragging on for months. Until more aid arrives, banks are squeezing consumers because they're getting squeezed, too.

Banks set record-high account fees to juice more out of the struggling retail biz

🍩 Dunkin' might sell itself (privately)

__Guac dirty to me...__ So extra. __[Chipotle](https://robinhood.com/stocks/CMG)__'s sales jumped 14% from last year to a quarterly record of $1.6B. Digital orders were the steak in Chipotle's earnings bowl, taking the limelight as we got guac all over our WFH laptops:

- __Digital sales more than *tripled*__, helping offset lost traffic from depressed restaurant dining.
- __Online orders made up nearly half__ of the burrito legend's total sales. Despite the e-win and record sales, Chipotle stock fell because *profit* took a hit.

__Dude, where's my carne?...__ ETA for your asada is 15 minutes, but Chipotle would rather you *pick it up* instead. About half of Chipotle’s digital customers chose delivery last quarter (instead of take-out or drive-thru) — that boosted costs and hurt profit:

- __Profit fell 19%__, partly because of delivery costs. Food delivery companies often charge restaurants double-digit commissions on orders.
- __Chipotle says__ that the delivery fees it charges  don’t fully cover the commissions it *pays* to partners like __DoorDash__ and __[Grubhub](https://robinhood.com/stocks/GRUB)__. 


_E-burritos just aren't as tasty_

Guac

__Delivery success doesn't always deliver...__ Chipotle would've been better off if people *only* did drive-thru and/or pick-up. It's not in Chipotle's interest to go full-ghost kitchen (delivery only). That's why it opened 44 new restaurants last quarter, 26 of which include digital-order drive-thru lanes (aka Chipotlanes). Investment in take-out/drive-thru could be the secret salsa to fast-casual's pandemic profits.

Chipotle reels in record sales, but takes a profit hit on delivery

__Anime filter was a hit...__ __[Snap](https://robinhood.com/stocks/SNAP)__ stock soared 55% for the week to a record high after the little ghost [reported](https://snacks.robinhood.com/newsletters/2hhFJkDD8GRIrdEY3An17Q/articles/44SSiCA2niJS661gqxKehP) expectation-smashing earnings. Sales shot up 52% as advertisers started spending again, compared to growth of 17% in the previous quarter — you probably noticed more ads between "Kylie sizzles in red" and "Is your dog depressed?" Daily users grew 18% to 249M (but Snap still isn't profitable). Earnings were boosted by the FB ad boycott and India's TikTok ban. TBD if Snap can keep up the lucky growth.

__Fridge is Truly stocked...__ Sam Adams-maker __[Boston Beer Company](https://robinhood.com/stocks/SAM)__ saw its stock soar 15% for the week to a record high on truly refreshing earnings. Boston Beer [raised](https://www.cnbc.com/2020/10/23/boston-beer-shares-soar-to-a-new-all-time-high-after-raised-guidance.html) its financial forecast for the year, mostly thanks to the success of its Truly hard seltzer. Sales of Sam Adams and Dogfish Head [fell](https://www.bostonbeer.com/news-releases/news-release-details/boston-beer-reports-third-quarter-2020-results), but growth of *non-beer* brands Truly and Twisted Tea helped offset those losses.  With the big buzz around seltzers and teas, Boston Beer should probably rebrand to 'Boston Booze.'

Highs

Who's up...

__Call *Emily in Paris*...__ __[Netflix](https://robinhood.com/stocks/NFLX)__ needs some cheering up. The stream-icon [added](https://snacks.robinhood.com/newsletters/2hhFJkDD8GRIrdEY3An17Q/articles/FL8fYUalmcoSK7GR3JhvI) a disappointing 2.2M subscribers in its third quarter, compared to 10M in Q2 and *16M* in Q3. Netflix stock fell 8% on the slumping growth. The subscriber boom from the first half of the year is over: Netflix added just 180K subscribers in the US and Canada because subscripturation (aka: subscription saturation) is real. Now the Flix is looking to emerging markets like India for its next 100M subs — customers in the Asia-Pacific region made up 46% of all new Flixers last quarter. 

__*Not the Lays kind*...__ __[Intel](https://robinhood.com/stocks/INTC)__ stock dropped 11% for the week after the famous chip-maker [revealed](https://www.intc.com/news-events/press-releases/detail/1424/intel-reports-third-quarter-2020-financial-results) not-so-chipper results for its data center unit. Sales of data-storing/processing hardware to companies and governments plunged 47% after two quarters of growth over 30%. Chip sales are booming, but customers don't want Intel's pricier ones — so it [sold](https://www.reuters.com/article/us-intel-results/intels-data-center-chip-sales-fall-short-shares-slide-10-idINKBN2772XW) more "cheap" chips, driving down profit despite higher volumes. Intel beat earnings expectations, but investors were bitter about the data dip. 

Lows

...and who's down

🌯 Chipotle's delivery dilemma 

__Calling it quiti...__ __Quibi__, short for "quick bites," is shutting down just six months after launching. The video startup [raised](https://snacks.robinhood.com/newsletters/6tL9rj4NSZ6yeAUZMcTFdg/articles/iJPjyX1dxuDPncD7wa9AW) a *gargantuan* $1.75B before debuting in April — now it's quitting to avoid losing investors any more money. In the likely chance you never downloaded it: Quibi is (was?) a mobile-only short video streamer (~8-minute episodes). It drummed up massive hype for three reasons:

- __Major backers:__ With DreamWorks founder Jeff Katzenberg and former __[HP](https://robinhood.com/stocks/HPQ)__ CEO Meg Whitman at the helm, Quibi got mega bucks from investors like __[Disney](https://robinhood.com/stocks/DIS)__ and __[Comcast](https://robinhood.com/stocks/CMCSA)__.
- __Big stars:__ Quibi splurged on HBO-level production quality shows and  big names like Liam Hemsworth, Reese Witherspoon, and Chrissy Teigen.
- __Cool tech:__  Quibi's "Turnstyle" feature lets you seamlessly switch between horizontal and vertical viewing (but it got [sued](https://deadline.com/2020/07/quibi-wins-eko-motion-turnstyle-technology-1202984830/) for that).

__No "Quibi and Quaker Oats"...__ Quibi was made for "in-between" moments. But we're not subway-and-Quibi'ing since the pandemic killed commutes — we're *also* not Quibi-ing while nuking oatmeal during WFH. Quibi missed paid subscriber targets, and  [reportedly](https://www.theverge.com/2020/7/8/21318060/quibi-subscriber-count-free-trial-paying-users-conversion-rate) lost 90% of early users after kindly sending a "your trial is expiring" email (#bless).

_Chrissy's Court is closed: the Quibi funeral_

Bites

__Content is king...__ While Quibi has partly [blamed](https://quibi-hq.medium.com/an-open-letter-from-quibi-8af6b415377f) timing, it likely failed because its content wasn't compelling enough to charge $5-$8/month  (see: show about a [golden arm](https://news.avclub.com/we-need-to-talk-about-the-golden-arm-episode-of-quibi-1842886592)). Those "in-between" moments still exist — but they're dominated by extra-short, user-generated content on *free* apps like Instagram, TikTok, and Snap. And those are thriving during the corona-conomy.


Quibi is sadly shutting down six months after launch  (it's not about timing)

__Requesting 1/1000 of a bitcoin...__ *for the truffle pizza we shared last night*. Venmo-owner __[PayPal](https://robinhood.com/stocks/PYPL)__ is [launching](https://www.reuters.com/article/idUSL1N2HB14U) crypto buying, selling, *and* shopping on its service. While buying/selling crypto isn't novel, the spending part is: 

- __PayPal users will be able to shop__ at the *26M* merchants on its network starting in early 2021. Think: paying for your burger or Bloomies in bitcoin.
- __US account holders can start buying virtual coins__ on PayPal in the next few weeks — PayPal's planning to bring this to Venmo and other countries next year.
- __BTW:__ The merchants won't actually get paid in crypto. PayPal is basically handling sales on the backend to turn your bitcoin into regular bucks.

__Big on the crypto...__ small on the currency. Crypto hasn’t been widely adopted as a real currency for three key reasons: lack of trust, lack of acceptance, and price volatility. You don't want to spend a bitcoin on a Birkin bag if that same coin could be worth *double* next week. Also: crypto transactions tend to be slower than traditional payments. 


Crypto

__This could be crypto’s mainstream moment...__ or not. With 346M active accounts, PayPal has waaaayy bigger reach than other crypto-slinging fintechs. That's why bitcoin [hit](https://www.independent.co.uk/life-style/gadgets-and-tech/bitcoin-price-2020-latest-record-cryptocurrency-b1205021.html) a record high for 2020 on PayPal's news. Just like GM’s EV Hummer [could](https://snacks.robinhood.com/newsletters/2hhFJkDD8GRIrdEY3An17Q/articles/4FDnuKMvUnNXfRZLTkT98w/) bring non-EVers to the electric side, PayPal could help normalize crypto. There's also a big chance that people won't see any value in using it, too. 

Venmo-owner PayPal will let users buy, sell, and shop with crypto

📲  Quibi's quick demise (it bites)

__Who didn't get corona-ghosted last quarter...__ __[Snap](https://robinhood.com/stocks/SNAP)__ stock soared ~30% to an all-time high after the little ghost [reported](https://www.cnbc.com/2020/10/20/snap-earnings-q3-2020.html) expectation-smashing earnings. You probably noticed more ads appearing every 5 seconds as you tried to watch “Kylie sizzles on Capri beach” and "Oddly Satisfying."

- __Sales shot up 52%__ as advertisers started spending again, compared to growth of 17% in the previous quarter. 
- __Daily users grew 18% to 249M__ — that's equivalent to 75% of the US population.
- __Snap's loss shrank 12%__, but the 9-year-old company still isn't profitable. 

__Zucking revenge...__ Snap's growth slowed big time after Facebook's Instagram copied its game-changing Stories back in 2016. But last quarter, Snap profited off FB's misfortune: earnings were boosted by the FB ad boycott, as marketers shifted spend to Snap. Also: since TikTok was banned in India, Snap more than [*doubled*](https://www.theinformation.com/articles/snapchats-indian-users-rise-150-as-growth-stalls-in-home-market?utm_campaign=%5Brtsu%5D+Automated+RTS&utm_content=1002702&utm_medium=email&utm_source=cio&utm_term=1000266) its users in the world's 2nd most populous country.

- __Snap has done a lot this year,__ [launching](https://snacks.robinhood.com/newsletters/2FFx07PkihITcdXy20oUUt/articles/f5oNMz0Gj22IuOs59hqQ3) new features from Mini apps to TikTok rivaling Sounds to the (in)famous anime filter.
- __There’s a lot you can do on Snap__ now besides sending double chin pics, from meditating with Headspace to Shazaming songs to identifying plant species.

_Snap getting freaky with the filters_

NSFW

__Snap got lucky...__ with the FB boycott and the TikTok ban saga. Now the question is: can it keep up the growth and users it gained last quarter? Snap's CFO said that it's not clear whether pumped-up ad demand will stick. But investors ignored that, boosting the stock on the surprising growth.


Snap hits a record on a wow-worthy quarter (it got its Facebook revenge)

__Just like *Emily in Paris*...__ __[Netflix](https://robinhood.com/stocks/NFLX)__'s quarter didn't go as planned. Netflix [added](https://variety.com/2020/digital/news/netflix-q3-2020-earnings-subscriber-miss-1234811242/) just 2.2M subscribers in its third quarter, less than the 2.5M it forecast and waaay less than the 3.6M analysts expected. Netflix stock dropped 7% because in the markets, everything is relative: 

- __Netflix added nearly 16M subscribers__ in the 1st quarter of this year, and over 10M in Q2, making its latest quarter look even worse.
- __It's forecasting just 6M new subs this quarter__, and expects paid subscriber additions to be *down* for the first half of 2021.

__The boom is over...__ Netflix saw explosive growth during the first half of the year, as we hibernated with our laptops and instant ramen. It became a utility (gas, electric, and Flix) — but that also led to more *subscripturation* (aka: subscription saturation). 

- __Netflix already takes up [72%](https://www.theverge.com/2020/4/21/21229587/netflix-earnings-coronavirus-pandemic-streaming-entertainment) of US home streaming time__. Plus, consumers are now spoilt for choice with newbie streamers like Disney+ (RIP Quibi). That's why...
- __Netflix added only 180K subscribers in the US and Canada__. Subscribers in the Asia-Pacific region were the largest growth contributors, making up [46%](https://www.cnbc.com/2020/10/20/netflix-nflx-earnings-q3-2020.html) of all newbie additions.

Flix

__Netflix needs to get creative to reach non-streamers...__ It has 200M paying subscribers, but its *next 100M* will probably be streaming virgins — everyone else is over-subscribed. That's why Netflix is looking to emerging markets like India and Brazil for future growth. It's even [offering ](https://www.protocol.com/after-discontinuing-free-trials-netflix-plans-streamfest-promotion) a free, 48-hour streaming event in India — and it probably won’t even ask for payment info.

Netflix stock slumps on slowing subscriber growth and subscripturation

__Are We There Yet?...__ Like the 2005 Ice Cube family classic, the mid-2000s were filled with gas-guzzling cars that could fit entire football teams (RIP Lincoln Navigator). Now __[GM](https://robinhood.com/stocks/GM)__ is bringing bulky back by reviving the Hummer, which it discontinued in 2009 when it went bankrupt. But now it's the opposite of a gas-guzzler:

- __The world's first all-electric supertruck:__ What GM unveiled in a (mildly terrifying) [commercial](https://twitter.com/KingJames/status/1317168024709853185) during the World Series on Tuesday.
- __GM's Hummer EV__ will be an electric pickup beast with 1K horsepower that goes zero to 60 in three seconds. BTW: LeBron is repping.

__Smells Musky...__ GM has made big moves in the EV world, and is now competing against __[Tesla](https://robinhood.com/stocks/TSLA)__ with the Hummer.  It's set to go on sale in a year – likely ahead of Elon’s Cybertruck.

- __$20B:__ How much GM plans to invest in autonomous and all-electric vehicles through 2025, led by the Hummer pickup.
- __$2B:__ How much GM just [said](https://www.businessinsider.com/general-motors-2-billion-build-cadillac-lyriq-spring-hill-tennessee-2020-10) it's pouring into factories to build its Cadillac EV. It plans to launch 22 new electrified vehicles by 2023.
- __$2B:__ How much GM was going to [hand over](https://snacks.robinhood.com/newsletters/7FZzguUiD8aLKkREx4vy4F/articles/7CfZXV2CbwDk29abnMj5hQ/) to produce cars for e-truck startup Nikola. That's on ice after fraud allegations against the startup.

Electrify

__This is a mainstream milestone for EVs...__ Everyone's talking about Tesla, but EVs [were](https://www.iea.org/reports/global-ev-outlook-2020) just 2.6% of global car sales in 2019. GM's sustainable version of its nostalgic, ultra-*un*sustainable car could lure more non-EV people to the electric side.

After 10 years, GM resurrects the gas-guzzling Hummer as an EV monster

👻 Snap's storied revenge

__Googling Google...__ That's concerning. The Justice Department [filed](https://www.wsj.com/articles/justice-department-to-file-long-awaited-antitrust-suit-against-google-11603195203) an antitrust lawsuit against __[Google](https://robinhood.com/stocks/GOOG)__ yesterday, more than a year after its investigation started. The DoJ claims Google uses anti-competitive tactics to keep its search biz monopoly. It's the biggest US legal challenge to a tech company's reign since __[Microsoft](https://robinhood.com/stocks/MSFT)__ got served in 1998.

- __Google controls 90% of global search__ and 92% of smartphone search in the US, research finds. That's partly thanks to key deals with phone-makers.
- __Android:__ Google has agreements to make sure its preloaded search app can’t be deleted from phones running its Android OS.
- __Apple:__ Google pays Apple ~$10B a year to feed it search traffic and make itself the default on Safari.

__Anything but Bing...__ Dominating market share isn't illegal — Google can't be punished for its success. Buuut: exclusionary moves that shut out competitors *are* illegal. That's why the lawsuit [focuses](https://www.wsj.com/articles/googles-exclusive-search-deals-with-apple-at-heart-of-u-s-lawsuit-11603221146?mod=hp_lead_pos1) on Google's exclusive deals with Apple. Losing that search pipeline would be so crushing that Googlers referred to it as "Code Red." If Google loses the suit, it could be forced to end deals or break up parts of its biz.

_When you accidentally set off the Code Red_

Search

__Google's monopoly doesn't hurt us...__ At least, not as clearly as  traditional monopolies. The DoJ says Google's anticompetitiveness means less choice/innovation for consumers, and pricier ads for companies. Google's case: people *choose* to use its tools, from Search to YouTube to Gmail, for the value they provide — plus, Google's services are mostly free. That undercuts typical antitrust arguments anchored on price. The harm to consumers isn't as obvious.


Google gets hit with the biggest tech anti-monopoly lawsuit since the '90s

__*Charmin, Crest, Vicks, and Tide*...__ Your pandemic grocery list is also __[Procter & Gamble](https://robinhood.com/stocks/PG)__'s pandemic *winners* list. The consumer goods giant had its [biggest](https://www.wsj.com/articles/p-g-cleans-up-on-pandemic-driven-hygiene-11603191600?mod=hp_lista_pos1) quarterly global sales increase in *15 years* as we compulsively cleaned our homes (and ourselves). 

- __Sales jumped 9%__, and profit soared 20% compared to last year. 
- __That's impressive growth__ for a 182-year-old company whose most exciting product is scented laundry beads.

__It's the Hygiene Revolution...__ The pandemic has caused us to splurge on brand-name hygiene products instead of $15 craft cocktails and 2 a.m. Uber rides. People are spending more time at home, and they also have more money to spend *on* their home.

- __P&G's home-care sales jumped 30%__, outsparkling every other unit.  Swiffer, Febreze, and Mr. Clean were the sanitized stars of the earnings.
- __Lysol-maker [Reckitt Benckiser](https://robinhood.com/stocks/RBGLY)__ just had its biggest quarterly sales growth *ever* thanks to its hygiene unit. It's also doing "[hygiene consulting](https://snacks.robinhood.com/newsletters/4yRCnrt1kOAxQVj9ebbA6A/articles/17bESValg79x7WOrMhvHQq)" for companies like __[Delta](https://robinhood.com/stocks/DAL)__ and __Airbnb__.


Scrub

__The hygiene bar has been (permanently) raised...__ Hygiene isn’t just a corona-trend like sourdough starters and tie dye. Early in the pandemic, cleaning sales gains were driven by hoarding and shortages. But recent demand appears to be fueled by our sustained obsession with sanitizing — and big-brand names are benefiting over generics. P&G raised its financial forecast for the quarter since it's expecting growth to get shinier.

P&G sees its shiniest growth in 15 years thanks to the "Hygiene Revolution"

🌎  Google's big monopoly lawsuit 

__The app-iest place on Earth...__ could be your local __[Walmart](https://robinhood.com/stocks/WMT)__. Walmart is [redesigning](https://www.cnn.com/2020/09/30/business/walmart-store-redesign/index.html) its stores to look like *its app*, so that shoppers can easily navigate aisles. The redesign will roll out to 200 US stores this year and 1K more by the end of 2021. Walmart's seriously pushing to make its app the main attraction (the store is just there to complement your tappy-taps). It wants you to:

- __Download__ the app before entering (and ideally, delete __[Amazon](https://robinhood.com/stocks/AMZN)__'s).
- __Use__ it to navigate the store (don't even *think* about asking Sheryl where the toilet seats are). 
- __Pay__ in-app with "Scan & Go" (and/or search for more options).

__Having Duty Free flashbacks...__ Walmart's makeover was inspired by airports since they're "best-in-class" at shepherding large groups of overwhelmed people. Except instead of flying from Paris to Bangkok, you're walking from pears to Instant Pot (Aisle 12). But this is really about Amazon (aka: Walmart's #1 nemesis)...

-  __More than half of Walmart’s top-spending families__ [are](https://snacks.robinhood.com/newsletters/7npBg6WCh7X1ssgq9cuRtt/articles/5KSLxwetQ3mOFHvXF6Jnl9/) Prime members. That's why the Mart started a $98/year subscription rival (Walmart+) in July.
- __Amazon is winning the corona-conomy__ thanks to its contactless service. Walmart's redesign is meant to get you in and out of stores quickly with minimal contact.


Tappy

__Walmart wants to go everywhere with you...__ The "app store" concept might help it do that. We rarely see Amazon stores, but we use Amazon to shop 24/7. Walmart wants you to associate it with 24/7 shopping, too. By incentivizing you to get its app for store browsing, Walmart is boosting  chances that you'll use it at home, too.

Walmart revamps stores to look like its app (of course, this is about Amazon)

__When you need that quick serotonin hit...__ and then find yourself three hours deep into baby penguin compilations. The Dodo cranks out feel-good videos like “Tiny Piglet Meets Baby Cow” (6M views) and "Big Dog Loves Baby" (14M views). It has [90M](https://www.wsj.com/articles/the-dodo-group-nines-animal-brand-is-getting-into-pet-insurance-11603101600?mod=markets_featst_pos2) followers across social sites and is owned by __Group Nine Media__, which also owns PopSugar and Thrillist. Now:

- __The Dodo is getting into pet insurance__. Group Nine, which is  backed by __[Discovery](https://robinhood.com/stocks/DISCA)__, has taken a minority stake in pet insurer __Petplan__.  
- __“Fetch by the Dodo”__: Petplan's new name (sounds like a subtle Means Girls reference). The Dodo will be paid to promote Petplan’s offerings on its channels.

__"Profit puppy" takes a literal turn...__ The Dodo has been getting creative with ways to monetize its massive audience. It  launched a Netflix Kids series and [partnered](https://www.thedodo.com/destination-animals) with Airbnb Experiences (no BLTs at the Piggie Picnic). Now it's capitalizing on the corona pet-palooza:

- __Pet adoption soared 60% in March and April__ as housebound Americans took in furry friends. Pet goodies company __[Chewy](https://robinhood.com/stocks/CHWY)__ saw sales surge [47%](https://investor.chewy.com/financials/quarterly-results/default.aspx) last quarter. 
- __Insurance startup [Lemonade](https://robinhood.com/stocks/LMND)__ added pet coverage after [realizing](https://snacks.robinhood.com/newsletters/1YSfPrq3GpLOGVYKoLdjDA/articles/6m4AJWOiYEXEmoCaz6USHv/) 70% of its customers have furry friends. The Dodo wants to cash in on the puppy love, too.


_Next up in the pet-palooza: pup-tails_

__Ads aren’t cutting it for media companies anymore...__ __[Google](https://robinhood.com/stocks/GOOG)__ and __[Facebook](https://robinhood.com/stocks/FB)__ have devoured  ad sales like pitbulls crushing a T-bone steak. Now that only scraps are left for the Pomeranians (media companies), they have to find other sustenance. The Dodo did this by leveraging its animal-loving following for a stake in insurance.

The Dodo is famous for viral animal videos— now it's getting into pet insurance

🛒 Walmart's app-tastic stores

__The article that has Twitter trending…__ isn’t trending on Twitter.  It all started on Wednesday with an unconfirmed *New York Post* article [showing](https://www.wsj.com/articles/senate-to-subpoena-twitter-ceo-over-blocking-of-new-york-post-articles-on-bidens-11602777128?mod=business_lead_pos1) allegedly hacked emails from Joe Biden’s son, Hunter. TLDR: the emails are unverified, but unflattering to both Bidens — and they were provided to the NYP by Trump's lawyer Rudy Giuliani (read: political agenda). Twitter and Facebook limited the article’s distribution with two very different approaches…

- __[Facebook](https://robinhood.com/stocks/FB)__ limited its visibility — FB algorithms didn’t place posts linking to the story as highly in people’s feeds, curbing sharing.
- __[Twitter](https://robinhood.com/stocks/TWTR)__ full-on blocked people from posting links to the story and emails, citing rules against sharing hacked content.

__Think fast…__ Social giants usually get heat for lagging on moderation, so their swift reaction raised eyebrows. Now, they’re getting criticized for lack of transparency and consistency in how/when they intervene. The moves backfired:

- __Twitter CEO Jack Dorsey will likely get subpoenaed__ by the Senate tomorrow. Dorsey was also *already* set to testify on Oct 28 along with Facebook’s Zuck (great timing).
- __The story got even more attention__. Biden/NYP was the #1 search on Google Trends on Wednesday with 1M+ hits.
- __Twitter apologized__. It [reversed](https://www.cnbc.com/2020/10/16/twitter-backtracks-allows-sharing-of-new-york-post-biden-story.html) its decision and said it’ll no longer remove hacked content unless it’s directly shared by hackers.


_Wondering why the Twitter drama isn't #trending on Twitter_

Drama

__This could be the breaking point on Section 230…__ That Congressional legislation [protects](https://snacks.robinhood.com/newsletters/6gEsMVqlGxt5w2dRl1MD3H/articles/6DJORdl1tbZXO3RABAheOP/) social media companies from being liable for what users post. They can’t be sued for posts, but also can’t be punished for “reasonable moderation.” This drama has [revived](https://www.vox.com/recode/21519337/section-230-trump-fcc-twitter-facebook-social-media-ajit-pai) calls for repealing 230, including from President Trump. The case: if social networks act like editors, then they should be accountable for *all* content on their platforms. Losing 230 immunity would be world-shattering for them — imagine if Facebook got sued every time someone shared something offensive or false.


Twitter and Facebook's latest moderation moves could cost them their immunity

__Ignoring that weird thing on your toe…__  __[UnitedHealth](https://robinhood.com/stocks/UNH)__ thrives on it. Shares of the largest US health insurer surged last week after it [reported](https://www.cnbc.com/2020/10/14/unh-earnings-q3-2020.html) expectation-smashing profit and raised its yearly forecast. Apparently, people are still avoiding the doctors’ office (has a germy ring to it). This slower-than-expected rebound in deferred care means United was spending less on covering your bills (while still pocketing your premiums). But United shelled out more than in the *previous* quarter, signaling an uptick in demand.

__What would Elon do?...__ __[Nio](https://robinhood.com/stocks/NIO)__, sometimes called "the Tesla of China," has had a glow up in 2020 (unlike the rest of us). Nio kicked off the year desperate for cash after burning through $6B. But the EV stock has [soared](https://snacks.robinhood.com/newsletters/5yCl3flQRU7NxuNd5MNLKO/articles/5k2cbOnhf9iVnaLn8flkLT) ~700% since April 29, when it got a $1B cash injection from Chinese government-backed investors. The stock soared 30% just last  week thanks to analyst upgrades on growth momentum. In 2019, Nio delivered just ~20K cars compared to Tesla's ~367K — but its battery-swapping service is an interesting differentiator.


__Haven’t seen a Biscoff cookie since March…__ Instead of dropping dough on a Mykonos trip this summer, you were making sourdough starters. Hence: __[Delta](https://robinhood.com/stocks/DAL)__’s passenger sales plunged 83% last quarter and it [lost](https://snacks.robinhood.com/newsletters/7t1UgZJunF0zHmtua93z83/articles/2OYnjiOKlT2IpgrVhvTOmr/) $5.4B (compared to a $1.5B *profit* for the same quarter last year). Delta avoided involuntary job cuts — but __[United](https://robinhood.com/stocks/UNH)__ and __[American](https://robinhood.com/stocks/AAL)__ are slashing 32K employees since federal aid expired. And stimulus help doesn’t look like it’s landing soon.

__Waiting for the happy ending...__ __[AMC](https://robinhood.com/stocks/AMC)__, the world's largest movie theater chain, said it'll run out of cash by late 2020 or early 2021 without  financial rescuing. 83% of AMC's US theaters have reopened at limited capacity, but attendance is [down](https://www.wsj.com/articles/theater-chain-amc-says-it-could-run-out-of-cash-by-year-end-11602593301) ~85% from last year. To make a bad situation worse, studios have been delaying blockbuster debuts. __[Disney](https://robinhood.com/stocks/DIS)__ postponed almost all its movies slated for 2020 release, including Marvel's “Black Widow." Now AMC's focused on raising fresh cash to survive until things normalize.

📰 Twitter's Biden article problem

__Red pill or blue pill, Nio?...__ This six-year-old luxury EV maker is on both. __[Nio](https://robinhood.com/stocks/NIO)__, sometimes called "the Tesla of China," has been on a wild ride this year. Kicking off 2020, Nio had a bad rap as a cash-bleeder: 

- __Red pill:__ In December 2019, Nio stock had plunged more than 70% since going public in 2018. The company had lost $6B since its launch and was almost out of cash. Now...
- __Blue pill:__ *Nio stock has soared ~700%* since April 29, when it got a $1B cash injection from Chinese government-backed investors.
- __New pill:__ The stock is up 30% this week thanks to analyst [upgrades](https://www.cnn.com/2020/10/15/investing/nio-stock-intl-hnk/index.html) on "strong order backlogs" and growth momentum.

__Not quite Musky...__ Unlike Tesla, which recently [reported](https://snacks.robinhood.com/newsletters/6511HaDUMXpAxjp2bEBL6w/articles/30QY0VGpvgwP9J9BKSTkLB) four-straight profitable quarters, Nio has never notched a profit. In 2019, it delivered just [~20K](https://www.forbes.com/sites/greatspeculations/2020/10/14/should-you-pick-nio-over-tesla/#31a28b0e767b) cars compared to Tesla's ~367K.  But Nio has a cool differentiator:

- __Battery Swapping:__ Nio's Battery-as-a-Service lets you swap your EV battery for a freshly charged one at one of its 130+ stations (instead of waiting for it to juice up).
- __The subscription costs ~$145/month,__ but you get $10K off the price of the actual car (since the battery is the most expensive part).  


Swap

__The lifestyle brand factor is a huge part of it...__ Like Tesla, Nio has built a cult following. Before it ever sold a car, it spent millions on cranking out Nio hats and merch. It also created "Nio Houses," sleek showroom-clubhouses for Nio owners to chill in.  Nio and Tesla have both grown by fueling deep brand love. 


Nio stock has surged, but we’re more interested in its battery subscription

__Eat, sleep number, repeat...__ OG mattress company __[Sleep Number](https://robinhood.com/stocks/SNBR)__ just woke from a deep slumber. Sleep's quarterly profit nearly doubled from last year, and sales popped 12% as we all worked from bed. The stock soared yesterday on the news. But this is really a Health & Wellness story...

- __If you can track it, you can techify it.__ Sleep Number shifted to selling *only* snooze-tracking Smart Beds in 2018 and has been making a wellness play since. 
- __Sounds familiar.__ D2C mattress company __[Casper](https://robinhood.com/stocks/CSPR)__ called sleep the “3rd pillar of wellness” after nutrition and fitness. 
- __The OG is beating the newbie.__ Sleep Number is way ahead of millennial-friendly Casper on snooze-tech, and its stock is beating Casper's this year, too. 

__"Life-changing"...__ How Sleep's CEO [describes](https://www.fool.com/earnings/call-transcripts/2020/10/14/sleep-number-corp-snbr-q3-2020-earnings-call-trans/) the 360 Smart Beds. She says they've "improved nearly 13 million lives and counting" (that's deep). These beds make sure your Zzzs get on the WiFi:

- __Tracking:__ The bed tracks your heart rate, breathing, and sleep/wake cycles, stalking your every movement.
- __Temperature control:__ The bed creates your "personal microclimate," balancing surface temp while warming your feet. 
- __SleepIQ Score:__ You get  a SleepIQ score along with a monthly in-app wellness report (70 to 100 = siesta master).


_When your Sleep Number Score is worse than your ACT score_

Snooze

__Sleep Number embodies the Power of the Pivot...__  After going full-smart-bed in 2018, Sleep Number completed its transformation from declining old mattress company to techy growing "wellness" company. That's helped it [notch](https://www.bizjournals.com/twincities/news/2020/10/15/sleep-number-shares-surge-after-third-quarter.html) double-digit demand growth for the past three years.  


The power of the pivot: Sleep Number thrives on techy WiFi Smart Beds 

🚗  Nio's EV battery subscription

__In the criminal chicken world...__ everyone has a bone to pick. __[Pilgrim's Pride](https://robinhood.com/stocks/PPC)__, the US' 2nd largest chicken processor, has [reached](https://www.wsj.com/articles/pilgrim-s-pride-reaches-plea-agreement-with-justice-department-on-chicken-price-fixing-allegations-11602649655) a plea deal with the DoJ on poultry price-fixing charges. It'll have to pay a $110M fine, and is expected to plead guilty. Price fixing: an (illegal) agreement among competitors that raises or lowers prices to their benefit. 

- __Example:__ If one toilet paper company charges $5/roll, we'll buy from a cheaper company (and the pricier one loses). If *every TP maker* decides to charge $5/roll, we have no choice (and the TP kings make bank).
- __Eggs-ample:__ That's basically what Pilgrim and other companies allegedly did with chicken, pushing up prices for chains like Popeyes, __[Walmart](https://robinhood.com/stocks/WMT)__, and other buyers (including us).

__That's clucked up...__ Right. And it's bigger than just Pilgrim's. From 2012 to 2019, multiple US chicken companies (including nugget legend __[Tyson](https://robinhood.com/stocks/TSN)__) allegedly coordinated to suppress competition. The DoJ says that chicken salespeople were calling each other across companies to talk price. Hypothetical eg: *"Hey Bob, with KFC we're going no less than 5 cents/wing, right?"*

_Can I fix you some chicken?_

Cluck

__This relates to Big Techies...__ Big Tech companies have been getting major heat from regulators over anti-competitive practices. The difference with tech staples like __[Amazon](https://robinhood.com/stocks/AMZN)__ and __[Facebook](https://robinhood.com/stocks/FB)__ is that they don't need to be in cahoots, because the competition basically doesn't exist.

This big chicken price-fixing scandal means a $110M fine for Pilgrim's Pride

__Don't ask for the AUX cord in this one...__ Uber Freight connects drivers (of massive semi-trucks) with high-volume riders (kegs of Heineken or your new furniture). In Silicon Valley speak, it's "the Uber of Logistics" — literally. Last year, __[Uber](https://robinhood.com/stocks/UBER)__ said Freight was its fastest-growing business. It looks like that momentum is still rolling...

- __$3.3B:__ How much Uber Freight is worth after [raising](https://www.cnbc.com/2020/10/02/uber-freight-raises-500-million-valuation-rises-to-3point3-billion.html) $500M this month. PE firm __Greenbriar Equity__ brought the cash, but Uber keeps majority ownership.
- __65K:__ How many carriers Freight [has](https://www.geekwire.com/2020/convoy-rival-uber-freight-raises-500m-valuing-trucking-logistics-business-3-3b/) in its network since launching in 2017. They work with big shippers like Bud-maker __[AB InBev](https://robinhood.com/stocks/BUD)__ and __[Nestle](https://robinhood.com/stocks/NSRGY)__.
- __+11.1%:__ How much job postings in __Indeed__'s driving category (including trucking) are [up](https://www.axios.com/newsletters/axios-markets-53c4a248-4e4e-4246-be38-c9e1a4082f4b.html?chunk=2&utm_term=twsocialshare#story2) since the start of February. 

__Not a truckload of options...__ Trucking is generally inflexible and expensive — companies need contracts and lead-time to make their shipments. With delivery booming during the pandemic, retailers have been struggling to expand their trucking operations quickly enough. Uber Freight makes that easier and faster (#techify): gig drivers can literally [book](https://www.youtube.com/watch?v=zHbm6YDOW_Y) a load and get paid right in the app.


Truckload

__Freight is Uber's dark horse...__ to offset losses and grow outside the complicated world of ride-hail. Uber's Ride bookings [plunged](https://snacks.robinhood.com/newsletters/3Gv0VpT4uNg7cUzDCeIsgl/articles/7guRHFjUJ23HYwesJ8IzAq) 73% last quarter on germ-avoidance and "everything is closed, anyway" syndrome. Now if Prop 22 doesn't pass in California, rides will [suffer](https://www.wsj.com/articles/uber-lyft-have-a-lot-riding-on-election-day-11602586800) even more. Logistics is a pandemic-friendly bet. 

Uber bets on Freight for the long-haul – it’s already worth $3.3B

__Check your 401(k) or brokerage account...__ Odds are high that you've got some $$$ in a __[BlackRock](https://robinhood.com/stocks/BLK)__ fund, since it's *the world's largest money manager* with $7.8T in assets under management ([AUM](https://learn.robinhood.com/articles/4l7spnri1tITVHbqyPZsON/what-are-assets-under-management-aum/)) — that's worth almost 4 stimulus packages. Much of that is dominated by index-tracking [ETFs](https://learn.robinhood.com/articles/QkpPOCYYd2fMe76837dvG/what-is-an-exchange-traded-fund/), aka "baskets" of stocks that can track an index like the S&P 500. But some funds are more startup-y:

- __Electric vehicle startup Arrival__ just raised $118M from BlackRock funds, [reportedly](https://www.wsj.com/articles/blackrock-bets-on-electric-vehicle-startup-arrival-with-118-million-investment-11602655201?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosgenerate&stream=top) giving the British EV maker a $3.5B valuation. __Hyundai__ and __[UPS](https://robinhood.com/stocks/UPS)__ also invested.
- __Green and lean:__ Arrival claims its electric-run city buses and vans can travel 300 miles without recharging and lower ownership costs by 50%. 

__*Not so green*...__ BlackRock is also [reportedly](https://www.reuters.com/article/saudi-aramco-blackrock-ma/saudi-aramco-and-blackrock-others-discussing-deal-worth-over-10-bln-sources-idINL8N2H412R) looking to invest in a $10B+ __Saudi Aramco__ oil pipeline deal. On the sustainability spectrum, BlackRock had a quinoa salad for lunch with Arrival and fried dough for dinner with Aramco fossil fuels.  


Diversify

__BlackRock wants to diversify (and hedge)...__ instead of depending only on one food group. Diversification is meant to reduce risk by spreading investments across sectors/companies that aren't correlated. With the oil investment, BlackRock would also be hedging against potential downturns in EVs. If the oil biz loses, the EV biz is probably doing well (and vice versa).


🛍 Postmates delivers holiday shopping

🍩 Dunkin' might sell itself (privately)

🌯 Chipotle's delivery dilemma

📲 Quibi's quick demise (it bites)

👻 Snap's storied revenge

🌎 Google's big monopoly lawsuit

🛒 Walmart's app-tastic stores

📰 Twitter's Biden article problem

🚗 Nio's EV battery subscription

🐔 The big chicken price scandal