📵 #ForYou fight

…and high fashion meets inflation fatigue (Anna Moneymaker/Getty Images) The clock’s TikTok’ing   Sponsored by Yesterday's market moves Dow Jones 38,461 (-0.11%) S&P 500 5,072 (+0.02%) Nasdaq 15,713 (+0.10%) Bitcoin $64,339 (-3.13%) Dow Jones 38,461 (-0.11%) S&P 500 5,072 (+0.02%) Nasdaq 15,713 (+0.10%) Bitcoin $64,339 (-3.13%) Hey Snackers, Kindness pays, and the Threads app takes that literally. [Meta](’s X alt [invited]( creators to post “positivity” content for 10 days for a chance to win 500 bucks. #$mile Stocks ended roughly flat yesterday, with earnings szn picking up speed. As traders worry about rates staying higher for longer, investors have pulled $200M from value-based ETFs this month.   UNFOLLOW [Biden signs a bill that could ban TikTok — but the #ForYou fight is far from over]( Am I the drama?... Yes, TikTok, you are. President Biden signed a bill yesterday that could ban the social app or force its sale. But it doesn’t mean TikTok’s 170M American users will be booted from the #ForYouPage anytime soon. Chinese parent ByteDance has about nine months to sell TikTok, and [legal challenges]( could stall the process even longer. TikTok has also said it’ll sue on free-speech grounds and try to block any sale. - Price tag: “Shark Tank” investor Kevin O’Leary and others have expressed interest in buying TikTok, but it’s unclear who could afford it. The Wall Street Journal estimates the app’s price tag at $100B+. - Without a sale: [Apple]( and [Google]( would be expected to remove TikTok from US app stores. - FYI: Congress has said that TikTok is a national-security threat that gives China access to Americans’ data. ByteDance argues that TikTok’s US version is separate from the Chinese version. Everybody’s so creative… TikTok may be one of the first non-US apps to have put deep roots in America’s culture and economy. Its 7K+ US employees now face an uncertain future, and influencers say a ban could destroy their livelihood. While Instagram’s TikTok copycat, Reels, is thought to have about the same # of US users, TikTok has higher engagement rates and a knack for catapulting clips to viral status. Industries including beauty and retail have [come to rely]( on TikTok’s ability to make [E.l.f.]( lip stain or “Lightning McQueen” [Crocs]( a viral must-buy. THE TAKEAWAY Officials could widen their nets… Apps owned by Chinese companies (Temu, CapCut) have come to dominate US app stores, as geopolitical tensions between the US and China have intensified. With Biden having signed this bill into law, his admin might now focus its attention on any foreign app that makes them think, “That’s suspicious… that’s weird.” Sponsored by RAD AI ✅Which AI tool do big tech execs have in their investment portfolios? Highly recognizable brands like Hasbro and Skechers are seeing the [benefits of RAD AI]( — while clued-in investors are seeing the potential. Here’s why: 📱[RAD’s artificial intelligence]( is poised to disrupt the $633B MarTech industry by taking a lot of the guesswork out of content strategy. ℹRAD AI is designed to attract quality clients with influence — and then expand it. So far, RAD AI has achieved 3.5X ROI across various clients, campaigns, and marketing channels. 💼 RAD is a SaaS-focused model designed to retain enterprise clients for multi-year commitments — and it does. Booked revenue is up nearly 3X over the previous 12 months. So far, RAD AI has raised $27M from investors. The backers: The Adobe Fund for Design, execs from Google, Amazon and Meta, alongside VCs like Fidelity Ventures, and 7500+* individual investors. [Join them before the investment opportunity closes on April 29](.** Sponsored by RAD AI ✅Which AI tool do big tech execs have in their investment portfolios? Highly recognizable brands like Hasbro and Skechers are seeing the [benefits of RAD AI]( — while clued-in investors are seeing the potential. Here’s why: 📱[RAD’s artificial intelligence]( is poised to disrupt the $633B MarTech industry by taking a lot of the guesswork out of content strategy. ℹRAD AI is designed to attract quality clients with influence — and then expand it. So far, RAD AI has achieved 3.5X ROI across various clients, campaigns, and marketing channels. 💼 RAD is a SaaS-focused model designed to retain enterprise clients for multi-year commitments — and it does. Booked revenue is up nearly 3X over the previous 12 months. So far, RAD AI has raised $27M from investors. The backers: The Adobe Fund for Design, execs from Google, Amazon and Meta, alongside VCs like Fidelity Ventures, and 7500+* individual investors. [Join them before the investment opportunity closes on April 29](.**   DE-LUXE [Gucci’s parent braces for sliding sales, as luxury demand unravels over high prices]( Not so Gucci… Shares of Kering [fell]( nearly 10% after the French luxury giant reported less-than-swanky earnings. Its overall revenue dipped 11% on the year, while its flagship Gucci brand saw sales slide 21%. (FYI: Kering owns other chic bag brands like YSL and Balenciaga, yet Gucci accounts for two-thirds of its profit.) Possibly to blame: a global spending slowdown and a delayed recovery in China, a key market. The biz expects operating income to drop as much as 45% in the first half of this year. - Spilled bubbly: Dior owner LVMH saw sales tick down last quarter as demand slowed for its high-end jewelry and liquor. - Runway returns: Rival Prada bucked luxe’s trend thanks to strong demand for its Miu Miu line and namesake brand. Luxury, unraveled… Fashion houses thrived postpandemic as more aspirational shoppers and stay-at-home adults bought $2K YSL bags and $400 Gucci belts. Now, because of inflation-tightened budgets, a lot of these shoppers have stopped splurging. To offset the slowdown, luxe brands hiked prices and tried to attract wealthier clients. The average price of luxury goods online has increased 64% in the US since 2019. THE TAKEAWAY High prices can create loose seams… As the price of luxury goods climbs, top fashion houses are finding that even wealthier consumers can be stretched thin. So while some customers are cutting back, many top earners are opting for “quiet luxury” labels or buying items they think will appreciate in value. Case in point: Hermès (which drops earnings today) saw soaring sales last year as shoppers indulged with pricey new Birkins.   What else we're Snackin' - [FTCompete](: The Chamber of Commerce sued to block an FTC rule that would ban noncompete clauses. The FTC argues that noncompetes, which affect 30M US workers, suppress wages and make it harder to switch jobs. - [MetAI](: Meta’s better-than-expected earnings yesterday were clouded by weak guidance. It’s been a boom year for the social co, with shares up ~40% and investors cheering efforts to integrate AI into its ad biz. - [Delay$](: The Biden admin issued a rule requiring that airlines give cash refunds for canceled flights. The industry’s struggled with high postpandemic demand, but last year saw the lowest US cancellation rate in a decade. - [GameOn](: [Hasbro]( reported profits that easily beat expectations. The boardgame big shot had huge margins from its “Magic the Gathering” card game to thank, which countered losses in the biz’s toy division. - [CZ](: Prosecutors want a three-year sentence for Binance founder Changpeng Zhao (think: largest crypto exchange), who pleaded guilty to violating US anti-money-laundering rules. His sentencing’s set for Tuesday.   Snack Fact of the Day [Boeing burned through $4B in cash last quarter following its 737 crisis](   Thursday - Earnings expected from Royal Caribbean, American Airlines, Altria Group, Caterpillar, Whirlpool, Wyndham Hotels & Resorts, Southwest Airlines, Bristol Myers Squibb, AstraZeneca, Comcast, Valero, Merck, Dow Chemicals, Keurig Dr Pepper, Union Pacific, Honeywell, Sanofi, Nasdaq, Hertz, ADT, Microsoft, Alphabet, Intel, Snap, T-Mobile, Capital One, Harley-Davidson, and Airbus - NFL Draft begins Authors of this Snacks own shares of: Alphabet, Apple, Capital One, Comcast, Microsoft, and Snap Advertiser’s Disclosure: *The 7500+ individual investors is as of 04/22/24. **This is a paid advertisement for RAD AI’s Regulation CF offering. Please read the offering circular and related risks at [invest.radintel.ai](. Equity crowdfunding investments in private placements, and start-up investments in particular, are speculative and illiquid. They involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups.   [Instagram]( [Twitter]( [Sherwood Logo](sherwood.news) Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( [Our Editorial Standards]( [Contact Us](mailto:hellosnacks@sherwood.news) [Advertise With Us](mailto:advertising@sherwoodmedia.com) [Unsubscribe]( [Privacy Policy](