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Green, washed (Mike Kemp/Getty Images)
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Yesterday’s Market Moves
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Dow Jones
32,813 (-0.54%)
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S&P 500
4,101 (-0.75%)
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Nasdaq
11,994 (-0.72%)
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Bitcoin
29,570 (-6.97%)
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Hey Snackers,
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Vegas chapels are all shook up after
Authentic Brands, the licensing company that controls Elvis’ name and likeness,
ordered them to stop
using Elvis impersonators in ceremonies — a major hit to Sin City’s $2B/year wedding biz. Less “Burning Love,” more “Crying in the Chapel.”
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Stocks ticked down to kick off the month, as investors keep rate-driven recession fears top of mind. US job openings
dropped by 455K in
April, but there’s still a massive gap between open positions and available workers (nearly 5.5M more jobs).
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iRobot updates the
Roomba’s “brain,” betting its OS can be a differentiator in the crowded smart-home space
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Sounds like a sci-fi thriller... actually a vacuum company. iRobot is the publicly traded consumer robot biz famous for
Roomba (aka: the popular self-driving vacuum). Its sales soared for a while during the pandemic as homebound and hygiene-conscious adults
ordered smart vacuums to clean up after their kids. But iRobot's US revenue growth has been slowing. Now:
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New brain: iRobot just revamped its robo-vacuum operating system to lay the foundation for a more sophisticated understanding
of your home life. iRobot Genius, its AI platform for smart vacuums and mops, is now iRobot OS.
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Features include the ability to identify and dodge phone chargers, stray T-shirts, and dog poop. With computer vision iRobot’s
newest vac can also understand specific commands like "clean under kitchen table." Also: preferences like extra sweeps during
pet-shedding season and fewer sweeps for the guest room. Competing for Fluffy's approval... Roomba isn't the only one: last year
Amazon rolled out a $1K Alexa-powered robot named Astro (aka: a 10-inch tablet on wheels). Smart-device adoption has surged thanks
to speakers from Amazon and Google, along with thermostats, security cams, and light dimmers. iRobot's vacuums work with Alexa,
Google Assistant, and Siri voice commands — but it may not be enough to win in the increasingly crowded market.
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Intelligence is useless without context… at least in the smart-home space. iRobot’s CEO told The Verge that the primary
differentiator of a home robot is intelligence (aka: software brain vs. hardware body). Key to that is context — a deep understanding of your
home and habits. Think: air purifiers understanding when a room is empty before going into noisy turbo mode (iRobot’s working on it). In the
future, we’re picturing showers that turn on at your preferred temp when you wake.
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Snack Fact
of the Day
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A third of Americans
who earn $250K+/year live paycheck to paycheck — and many are millennials
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Read more
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Thursday
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OPEC meeting. Weekly jobless claims. Platinum Jubilee weekend starts in the UK.
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Earnings expected from: CrowdStrike, Hormel, Okta, Asana, The Duckhorn Portfolio, Samsara, Zumiez,
Duluth Trading Co., and Lands’ End
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Authors of these Snacks own shares of Exxon, GM, Google, Tesla, Delta, Amazon, and Apple
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ID: 2227541
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