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Thursday, November 20, ended up being a bit of a whirlwind for tech investors. The day started off on a positive note, with Nvidias shares (Nasdaq: NVDA) rising almost 5% thanks to a strong earnings report shared after the bell on Wednesday. The companys third-quarter revenue reached $57.01 billion with an adjusted earnings per share of $1.30both exceeded Wall Streets estimates. Nvidia also shared that it expects $65 billion in quarter-four revenue, higher than the $62 billion analysts predicted. The other Magnificent Seven tech stocksAlphabet, Amazon, Apple, Meta, Microsoft, and Teslarose in turn. But Nvidias success wasnt enough to repel investors fears of an AI bubble or what had appeared to be an increasing unlikelihood of the Federal Reserve issuing a rate cut next month. As the day went on, each of the seven companies, including Nvidia, saw their stocks whipsawas did the tech-heavy Nasdaq Composite. In yet another twist, hopes for that rate cut rose again on Friday, with CME Group now reporting a 70.9% likelihood of a cut. The Nasdaq Composite had looked set to open at a 10-week low after closing at $22,078.05, though it appeared to be turning positive again as the opening bell approached on Friday. Meanwhile, while each of the Magnificent Seven had lost any early-morning gains on Thursday, some appeared to be turning positive again on Friday morning. Here are the latest number as of the writing: Alphabet (GOOG) Thursday high: $306.89 Thursday low: $289.17 Premarket low as of publishing: $287.30 Early Friday trading: Up 3.36% Amazon (AMZN) Thursday high: $227.14 Thursday low: $216.74 Premarket low as of publishing: $216.01 Early Friday trading: Flat Apple Thursday high: $275.43 Thursday low: $265.92 Premarket low as of publishing: $264.26 Early Friday trading Up: 0.8% Meta (META) Thursday high: $606.72 Thursday low: $583.35 Premarket low: $580.33 Early Friday trading: Up 0.88% Microsoft (MSFT) Thursday high: $493.57 Thursday low: $475.50 Premarket low as of publishing: $474.32 Early Friday trading: Flat Nvidia (NVDA) Thursday high: $196 Thursday low: $179.85 Premarket low as of publishing: $174.42 Early Friday trading: Down 1.62% Tesla (TSLA) Thursday high: $428.94 Thursday low: $394.74 Premarket low as of publishing: $392.90 Early Friday trading: Up 1.79% Tech stocks have suffered in recent weeks amidst growing concerns that AI companies have overinflated values. Then, yesterday also saw the release of the September jobs report, after the government shutdown delayed it. There were 119,000 new positions added, a significant increase from the 50,000 jobs predicted, according to consensus estimates cited by The Wall Street Journal. Yet unemployment rose to 4.4% in an unpredicted shift. This story is developing…
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E-Commerce
Now you can sing along with America’s Founding Fathers as you crush your opponents under oppressive rents and market domination. The Op Games, a publisher of board games and puzzles, is releasing a new version of Monopoly based on the hit Broadway musical Hamilton, marking the latest iteration of the classic economics game that has been a staple of family game nights for many decades. The Op Games plans to announce the new version today, a spokesperson told Fast Company. The game commemorates the 10th anniversary of Lin-Manuel Miranda’s rap-infused retelling of America’s origin story, which made its Broadway debut in the summer of 2015 and went on to win 11 Tony Awards and the Pulitzer Prize for Drama. In Monopoly: Hamilton, hotels become Federalist Papers, houses become Letters, and the familiar Chance and Community Chest cards are named after the musical’s dueling protagonists: Alexander Hamilton and Aaron Burr. Instead of boot or thimble, players can choose between an assortment of Hamilton-themed pieces, including a microphone, crown, or tricornered hat. [Photo: 1935, 2025 Hasbro. Hamilton by Lin-Manuel Miranda.] Can you say no to this? California-based The Op Games has carved out quite a niche for itself with cobranded versions of popular board games, such as a Jaws-inspired riff on Operation or a Trivial Pursuit edition that lets you test your knowledge of HBO’s Game of Thrones franchise. It licenses Monopoly from toy giant Hasbro, which has touted a “franchise-first approach” to IP as a cornerstone of its success. For instance, the Monopoly Go! mobile game, published by developer Scopely, has been an enormous success, contributing $126 million in revenue to Hasbro so far this year as of the third quarter. You could argue that all these variations cheapen the Monpoly brand (we’ll leave it up to you to decide if the world needs a Guy Fieri edition), but a Hamilton version of the capitalist-forward game makes more sense than most. [Photo: 1935, 2025 Hasbro. Hamilton by Lin-Manuel Miranda.] The title character, after all, played a key role in creating America’s financial system, and at least four of the musical’s characters are still pictured on our money today. While the cultural legacy of Hamilton has been rigorously debated and reassessed over the yearscritics have accused it of perpetuating a “founders chic” view of American history, or of being an overly earnest relic of the Obama erathe show remains a money-making juggernaut. Ten years on, it’s still playing at full capacity at the Richard Rodgers Theatre, where just last week it earned $3.9 million at the box office, more than any other show on Broadway. Monopoly: Hamilton will be available for purchase at the theater, on the Hamilton website, and at Barnes & Noble bookstores, retailing for $45. Just remember to collect 20 Hamiltons every time you pass Go.
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E-Commerce
The X of Y frameworkWere the Uber of healthcare or the Airbnb of financehas become a kind of startup reflex. Its useful, even comforting, to anchor a new idea to something people already understand. But what feels like clarity can become constraint. When you define your business through another companys success, you risk adopting their playbook instead of rewriting the rules. The best disruptors learn to move past comparison. They articulate what makes their idea not just different, but inevitable. Thats how you build conviction from your team, your investors, and your customers. Why comparison shrinks your story From a branding perspective, letting investors, consumers, or even your own team see your business through the lens of another company is risky. It narrows imagination and compresses potential before the company ever takes off. In Teddy Roosevelts words, comparison is the thief of joy. In the entrepreneurial world, comparison is the thief of innovation. The moment you define yourself through someone elses success, youre not building a new world; youre borrowing a corner of an old one. True disruptors dont emulate, they innovate. And not just in the product, but in how they communicate that product to the world. The biggest tech companies by market capFacebook, Apple, Amazon, Netflix, Google, Nvidiaarent the X of Y. They just are. They didnt build by reference; they built by invention. Yesterdays playbook wont win tomorrows game From a business model standpoint, the X of Y approach doesnt simplify, it hamstrings. What worked in one context often fails in another because conditions change faster than most disruptors realize. YouTubes monetization strategy, for example, only succeeded after the platform reached massive scale. Trying to apply that same model to a niche content business at launch would likely fail. OpenAI trained on freely available web data thats now largely cut off. Imitators entering the space today cant replicate those conditions, nor their success. Timing and first-mover advantage matter. Once a model exists, the data access, regulation, even consumer behavior conditions that allowed it to thrive are already evolving. The world moves on. What worked before doesnt necessarily work now. For disruptors, the takeaway is simple: Learn from others, but dont lean on them. The best leaders translate insight into original structure, a model built for todays conditions, not yesterdays advantages. Create a category: Lessons from Figures IPO I saw this dynamic play out firsthand during Figures IPO. With no natural comparison, we didnt fit into a familiar box. Yet, investors tried; they labeled us a blockchain company, a fintech lender, a financial marketplace. And each comparison carried its own limitations: valuation ceilings, volatility, market constraints. Bringing something truly new to market requires more than a great product. It demands changing perception. You have to teach the market how to think differently and convince them theyre ready for it. At Figure, we had to educate investors that what we were buildingblockchain-based capital marketswasnt a futuristic concept; it was a present-tense opportunity. We emphasized not just what we built, but why it mattered: faster, more transparent capital flows that could unlock a massive market. Once that clicked, investors stopped searching for a comparison and started seeing the scale of the opportunity. That shift made all the difference in a successful offering. Comparisons fall flat faster in todays world Were in an evolutionary moment. Like mobile did before, AI and blockchain are changing the rules of the game. Business models built around past infrastructure will quickly feel dated. Anchoring yourself to yesterdays success stories is like hitching your wagon to Craiglists star in 2008. It looked brilliant, until mobile changed everything. The X of Y mindset is its own kind of entrepreneurial Waiting for Godot. Leaders get stuck in a comparison loop, waiting for validation, for precedent, for permission to move. But the future never arrives for those who wait on it. Pioneering beyond precedent, especially when precedent itself is shifting, is hard. But thats where the opportunity lies. Leaders who thrive in this environment wont ask, Who are we like? Theyll ask, What are we building that no one else has imagined yet? Because real disruptors dont wait for Godot. They build the world everyone else is still waiting for. Michael Tannenbaum is the CEO of Figure.
Category:
E-Commerce
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