😢 Meta brought out the chopping block

Something's the meta with Meta | Disney's lost its magic | [TOGETHER WITH]( Hi {NAME}, here's what you need to know for November 10th in 3:15 minutes. 💸 Beyoncé x Jay-Z? Louis Vuitton x Supreme? We’ve got an even cooler collaboration for you. Get [3 months Revolut Premium]( and [6 months Finimize Premium for free](, and you’ll even get £10 (or equivalent) sent right to your Revolut account, on us. Now that’s what we call buzzworthy.  [Unlock it all here]( Today's big stories - Meta announced the biggest staff cut in its history - Here’s how you might profit from Binance and FTX's crypto-drama – [Read Now]( - Disney’s less-than-magical quarterly results missed analysts' expectations Out Of The Metaverse [Out Of The Metaverse] What’s Going On Here? Meta [announced]( the biggest staff cut in the company’s history on Wednesday. What Does This Mean? Meta's dismal report from last month [revealed]( its second-straight quarterly drop in revenue and piling losses from its risky metaverse bet. Investors dropped Meta like a hot potato, wiping more than $89 billion from the firm’s already shriveling market value. And given there’s very little chance that fired-up competitors will take a breather, or that budget-conscious clients will ramp up their ad spending, that downward trend could stick around. But Zuckerberg has a plan: Meta announced on Wednesday that it was laying off 11,000 employees – about 13% of its workforce – in the biggest cull in the company’s history. Other cost-saving measures are on the cards too, with budgets, perks, and even whole offices on the chopping block. But that bad news for staff could be good news for profit, which might be why investors sent its shares up 3% after the news. Why Should I Care? Zooming in: The great leveler. The last few months have shown that no one’s immune to the effects of the global economic slowdown, not least tech companies that are rushing to cut staff to save cash. Case in point: Salesforce announced a plan to cut jobs this week, while Apple, Amazon, and Alphabet have all slowed or paused their own hiring too. At least Twitter’s demonstrated what not to do: the firm laid off around half of its workforce last week after Musk took the helm, but has already started [pleading]( for some of them to come back ([tweet this](). The bigger picture: Tik, tok, boom. TikTok’s often seen as Meta’s main rival in the battle for the world’s attention, which likely inspired Meta to create Reels – a format similar to TikTok’s bite-sized videos. But right now it looks like even TikTok’s feeling the burn, with its parent company ByteDance [cutting]( a chunky $2 billion from this year’s ad revenue targets on Wednesday. You might also like: [Big tech’s got issues, sure, but that doesn’t mean it’s over.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Out Of The Metaverse&utm_campaign=daily-global-10-11-2022&utm_source=email) Analyst Take What Just Happened With Binance And FTX? [What Just Happened With Binance And FTX?]( By Jonathan Hobbs, Analyst Binance, the world’s biggest crypto exchange, has announced [plans to buy FTX](, a top-five crypto exchange. That news came days after Binance’s CEO sounded [a warning bell]( about FTX’s finances, sparking a plunge in the value of its central asset, the FTT token. Now, this deal might not even go through, it’s true. But either way, there’s a lot going on here. That’s why I’ve unpacked [what you need to know]( and pointed out how you could potentially take advantage. That’s today’s Insight: [what in the world just happened in crypto, and how you can potentially gain from it.]( [Read or listen to the Insight here]( Finimize x Revolut Pretty good stuff, right? Our analysts write Insights like this every day, and you can read every single one of them with [Finimize Premium](. There’s no better time to get started: our new partnership means you can get [six free months of Finimize Premium]( and [three free months of Revolut Premium]( if you [sign up for Revolut today](. We’ll even send you £10 (or equivalent) to your Revolut account to get you started. SPONSORED BY BLACKROCK Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested. A new way to invest Investing can often mean scanning a never-ending stream of complicated facts and figures. Not with [BlackRock’s MyMap range](, mind you. All you need to do is pick the [ready-made MyMap fund]( that best aligns with your financial and sustainability goals, and select your personal risk appetite. [The MyMap range]( is made up of a variety of assets like equities (shares), bonds, and alternatives. They provide [more diversification than investing in a single asset](, which means all your eggs aren’t in one basket – all carefully curated to maximize your portfolio’s potential returns. Diversification and asset allocation may not fully protect you from market risk. Discover more about [BlackRock’s MyMap range](. [Find Out More]( Issued by BlackRock Advisors (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL, Tel: +44 (0)20 7743 3000. Registered in England and Wales No. 00796793. For your protection, calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock. © 2022 BlackRock, Inc. All Rights Reserved. MKTGH1122E/S-2562613 Brawny To Scrawny [Brawny To Scrawny] What’s Going On Here? Disney’s gone from hero to zero: the firm [reported]( disappointing quarterly results this week. What Does This Mean? Disney’s fairy tales might tell sparkling rags-to-riches stories, but the company’s results sound more riches-to-rags right now. The firm celebrated some magic, sure: Mickey-Mouse-ear-clad crowds flocked to Disney’s US theme parks in almost pre-pandemic force, each spending 40% more on average than in 2019. And the firm's streaming services – Disney+, ESPN+, and Hulu – were the belle of the ball, captivating nearly 15 million new subscribers last quarter, enough to keep Disney’s total count well above Netflix’s. But that’s where the magic ends: the streaming growth came after dizzying marketing and content spending, so the segment’s operating losses more than doubled to reach $1.5 billion. That sure broke the spell: overall revenue and profit fell well short of analysts’ expectations, prompting disenchanted investors to send shares down 10%. Why Should I Care? Zooming in: Turn this frog into a prince. Disney was quick to assure investors that while streaming growth might slow, the segment’s “peak losses” were behind it. In fact, the firm believes Disney+ will turn its first profit in 2024, and that’s not just wishful thinking: the entertainment giant’s set to hoist its flagship streaming service’s prices by nearly 40% next month, and it’s launching an ad-supported version that’s tipped to make $800 million in ad sales each year. Sprinkle in that the segment’s spending is forecast to dip next year, and that goal could be within reach – Bibbidi-Bobbidi-Boo indeed. The bigger picture: Better the devil you know. Disney and Netflix look like they’re following similar tracks right now, prioritizing making more money from existing subscribers over attracting new ones. After all, it’s getting trickier to grow memberships and profit at the same time, and analysts prefer profit right now. Just look at Paramount Global: it reported robust subscriber growth last week, but the fact it missed profit expectations by a mile sent shares plummeting 12%. You might also like: [Is Netflix a buy after its latest results?]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Brawny To Scrawny&utm_campaign=daily-global-10-11-2022&utm_source=email) 💬 Quote of the day “I am a kind of paranoiac in reverse. I suspect people of plotting to make me happy.” – J. D. Salinger (an American writer) [Tweet this]( SPONSORED BY ANTHONY POMPLIANO Level up your investing skills, no textbook required You no longer have to choose between a quick entertainment fix and developing your skills. See, [Anthony Pompliano’s YouTube channel]( is practically bursting with [high-quality, easy-to-watch content]( covering business, tech, investing, and finance. So if you’re taking a long bath or cooking up a storm, you can tune into [a long-form interview]( with famous guests like Mark Cuban, Cathie Wood, Kevin O’Leary, and Chamath Palihapitiya. And if you just have five minutes while you wait for your train, you can catch up on the [freshest news in investing and business]( with Anthony’s super-fast [YouTube Shorts](. [Start watching for free today, and you’ll never miss a beat again](. [Check Out The Channel]( When you support our sponsors, you support us. Thanks for that. TODAY'S TRENDING TOPIC News just in… One of the most powerful firms in finance slashed its 2023 earnings forecast for the S&P 500 to 0%. That’s right: zero, zip, zilch, nada – and that’s if all goes well. To find out why, check out [our latest TikTok]( and [follow us for more breaking takes](. [Follow Finimize on TikTok]( 🌍 Finimize Live 🥳 Coming Up In The Next Week… All events in UK time. 🔧 [Tools Value Investors Use For Turbulent Times](: 6pm, November 10th 🔥 [How To Build Better Financial Habits In Your 20s And 30s](: 3pm, November 11th ♻️ [How To Build An Eco-Friendly Crypto Portfolio](: 1pm, November 14th 💥 [How To Diversify During High Inflation](: 6pm, November 14th 🐻 [How To Survive A Crypto Bear Market](: 7pm, November 15th 👀 And After That… ✅ [How To Successfully Invest In Dividend Stocks](: 6pm, November 22nd 🚀 [2023 Outlook: What’s Next For Crypto?](: 6.30pm, November 23rd (in person, London) 🌍 [Finding Opportunities In A Challenging Market With BlackRock](: 1pm, December 2nd 🇦🇪 [The Modern Investor Opening Party In Dubai](: 6pm, December 6th 🎉 [Modern Investor Summit](: 12pm, December 6th – 7th 🎯 On Our Radar - Firing photons. “Energy weapons” could change [the face of warfare](. - Raising little troupers. Here’s how to parent [for perseverance](. - Edible graveyards. Here’s why those two words might [actually belong together](. - It’s called tweeting for a reason. Online mobs tend to act [like flocks of birds](. - Naked ambition. Tumblr’s ditching its [ban on nudity](. ❤️ Share with a friend Your Referrals: 0 Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. Share your unique link: [ You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? [Get in touch]( Image Credits: Image credits: Meta | Disney Preferences: [Update your email]( or [change preferences]( [View in browser]( [Unsubscribe]( from all Finimize Emails 😴 Crafted by Finimize Ltd. | Bow Bells House, Bread Street, London, EC4M 9HH All content provided by Finimize Ltd. is for informational and educational purposes only and is not meant to represent trade or investment recommendations. You signed up to this mailing list at finimize.com or through one of our partners. © Finimize 2021 [View Online](