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Happy Thursday, Future Party. If you’ve been to the movies lately, you may have noticed that popcorn buckets have gotten elaborate. Themed buckets are now a talking point, with prices climbing as high as $80 — if you want to hold your snack in the head of Galactus with LED eyes, that is. We suppose we can thank the current popcorn-bucket phenomenon on last year’s sandworm bucket for Dune: Part Two… which, as you may remember, became famous for something other than holding popcorn.
DAILY TOP TRENDS
Nvidia Becomes The Most Valuable Company In Modern History
Nvidia is the first company to cross the $4 trillion market cap mark.
The Big Picture: Nvidia’s lightning-fast rise to the top of the stock food chain demonstrates how AI has reshaped the markets. And as nearly every blue-chip company continues to rely on its cutting-edge chips (or works on developing their own), Nvidia’s worth may only keep climbing.
Behind the Stock: Has a company ever grown as quickly as Nvidia?
This week, Nvidia hit a $4 trillion market cap — the combined worth of the 216 smallest companies on the S&P 500.
The stock peaked at $164.12 — a 22% increase over the past year.
But more amazingly, that price represents a 871.7% increase since November 2022 (yeah, that’s wild).
Final Call: Nvidia’s growth has happened despite a 31% drop in its stock earlier this year amid tariff-announcement chaos. It just goes to show how resilient Nvidia is becoming and how the company truly represents the “AI Revolution,” as coined by Wedbush Securities analyst Daniel Ives (arguably more so than OpenAI). And when it comes to billionaire Nvidia co-founder and CEO Jensen Huang, he might be the most underrated tech titan in the world today.
Prediction: With Microsoft also fully committed to AI — and even developing its own chips — expect it to be the next company to hit $4 trillion. It’s right behind Nvidia, with a market cap of roughly $3.7 trillion.
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Gen Zers And Millennials Are Budgeting Off Vibes
Young Americans are shifting their budgets not because their finances are that bad, but because the headlines make it seem like the economy overall is that bad — a new phenomenon known as “vibe-based budgeting.”
Why It Hits: One thing that’s for sure is that there’s a lot of uncertainty in the economy right now, both in the macro sense and in our personal finances. Vibe-based budgeting is simply a reflection of how people are trying to cope with a constantly shifting financial outlook.
Behind the Budget: A new report by Credit Karma puts some numbers to the vibes.
44% of Americans are now doing vibe-based budgeting — “adjusting their spending and financial habits based on ‘how the economy feels,’” per Fast Company.
The trend is highest among millennials (57%) and Gen Zers (56%).
48% of Americans say they’ve started changing their budgets simply because the media coverage around the changing economy has painted a dire picture. That’s made them “second-guess” if they’re okay.
45% of those concerned about the economy have cut back on nonessential spending (such as eating out and entertainment), while 38% haven’t taken out new loans or accrued more debt.
The Future: All the vibe-based budgeting is mostly due to the fact that 44% of Americans believe that prices are “climbing rapidly,” and 34% believe their own finances are unstable. Ironically, 51% reported having a positive monthly cash flow, and 72% reported that their finances had not taken a negative turn over the past six months. 38% even expect their finances to be more optimistic in a year.
That is, unless you are one of the tens of thousands of people who have recently been laid off or faced salary cuts. Then, yeah, the financial picture isn’t so rosy.
Prediction: Expect brands to start marketing their products as a balm from the bad vibes — discounts, savings, and perks galore.
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DEEP DIVES
Read: The NYT explores how private equity has set its sights on youth sports — a business that’s estimated to be worth $40 billion.
Watch: The Horror Section, the new indie-horror studio founded by filmmaker Eli Roth, dives into Jimmy and Stiggs — the first of a planned four releases annually.
Listen: Hard Fork chats with Stripe CEO Patrick Collison about Silicon Valley’s utopic vision.
70.3% of you voted No in yesterday’s poll: Have you ever been stranded somewhere because you lost cell service?
“Because I still do not use a cell phone.”
“No, but I attend music festivals all the time and always end up alone because I lost communication with my friends.”
“As an avid hiker who chooses not to own a car, I’ve been stranded in remote areas without the cell service required to order a rideshare. I consider this part of the adventure.”
“That’s why I now have a stack of ‘real maps’ in the glove box of my car. No cell service typically also equates to loss of GPS service. In the remote mountains of East TN, that can get a little tricky.”
Let’s keep the conversation going. Join our Poll Of The Day newsletter, so your opinions can shine. Discover how your views line up with your peers’, check out cool insights, and have some fun. It’s data with personality.
QUICK HITS
→ Entertainment / Media
🎤 BTS has already scored its first No. 1 single since its members returned from mandatory military service.
📺 Max is officially HBO Max again… but X won’t let them change their name on the platform.
😂 Billy McFarland is auctioning off the Fyre Fest brand on eBay… starting at a penny. The current bid is already over $200,000.
→ Fashion / E-commerce
💸 The White House has issued a new round of tariffs, starting at 25% on the majority of countries.
💻 A federal court has struck down the FTC’s “Click to Cancel” rule, which would have made it easier for people to cancel their subscriptions.
👟 Reebok is showing off the first signature shoe from WNBA star Angel Reese.
→ Creator Economy
🐦 X CEO Linda Yaccarino has thrown in the towel… err… has stepped down from her role after two years.
📱 YouTube is set to announce new measures that will prohibit the monetization of AI slop.
🤳 Speaking of YouTube, the company is eager for creators to share more data with brands and advertisers.
Let us know how we are doing...
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Copy edited by Kait Cunniff.
Published by Darline Salazar.