Trivia Time: Halloween Edition

As we embrace the Halloween spirit here at Bite Sized Beta, let’s have some fun with trivia.

1. Which of the following statements about Spirit Halloween stores is NOT true?
   • 90% of its sales are from physical locations
   • Store employees receive free costumes
   • It generates $600 million in annual sales
   • It only operates temporary locations with 3-month leases
2. What’s the most disliked Halloween candy in America?
   • Circus peanuts
   • Candy corn
   • Tootsie rolls
   • Licorice
3. Which generation plans to spend the most on Halloween?
   • Gen Z
   • Millennials
   • Boomers

Answers will be revealed at the end of this post.

Cookie Crumbs: Quick Updates

Brad Gerstner of Altimeter Capital, which holds a $320 million stake in Meta, recently sent a critical letter to Zuckerberg proposing a three-step strategy to regain investor trust. His suggestions include:

1. Cutting headcount spending by at least 20%
2. Reducing capital expenditures (like office space and data centers) by $5 billion, pointing out that Meta’s spending surpasses that of Apple, Tesla, Twitter, Snap, and Uber combined.
3. Capping investments in the metaverse to $5 billion, arguing that the current $10 billion investment is excessive and unclear regarding future outcomes.

Interestingly, Reddit's NFT avatars, launched in July, have quickly become one of the top collections on OpenSea, boasting a market cap of $100 million and a unique holder ratio of 85%—significantly higher than other major NFT projects.

In a surprising turn, Jane Wong, a tech engineer known for uncovering features within code, has reported that Twitter is developing a cryptocurrency wallet. Could it be a MetaMusk creation?

In another development, Apple has faced backlash for its updated App Store policies, which now take a 30% cut from developers’ ad revenues and NFTs. Zuck is clearly not pleased.

According to a recent study by the NY Fed, remote work has led to reduced work hours across all demographics. What are people doing instead? Sleeping and enjoying leisure activities—who would’ve thought we wouldn’t all be working more?

Chart of the Day: Venture Fund Returns

Here's a fresh perspective: the top quartile of venture funds typically returns double the invested cash on average.

To clarify some terms:

• TVPI (Total Value to Paid-In Capital): Indicates potential profits from fund investments. For example, a TVPI of 1.5 means that for every dollar invested, limited partners can expect to see $1.50 returned.
• DPI (Distributions to Paid-In Capital): Represents realized returns.

The chart shows that for top funds established in the years listed, the average DPI was just under 2, illustrating that while venture investments can be lucrative, they often come with a decade-long commitment.

Chocolate Chips: This Week’s Discoveries

Check out these intriguing finds:

• The most popular Halloween candy by state—Montana has the best taste!
• Ten ways to achieve a more relaxed state of mind.
• A website featuring handy life tools that don’t require sign-up.
• French fry dips from around the world and what they reveal about you.

Snickerdoodles: Hallowmeme Special

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That wraps up today’s insights—see you next week!

Answers to Trivia

Unfortunately, Spirit employees only receive a 25% discount on store merchandise, which seems a bit stingy for a company that makes $600 million in just three months of operations.

The most disliked candy is Circus peanuts, but since that’s not a real candy, candy corn follows closely behind.

Millennials are expected to spend the most this Halloween, averaging $255 compared to $169 for other generations.

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