Hey there weekday warriors,

I don’t know who needs to hear this, but maybe you need to be as confident as WeWork’s bankruptcy filing. Adam Neumann’s former employer boasted about having “a strong foundation, a dynamic business, and a bright future.” So, next time you’re feeling defeated, remember that if WeWork can spin its bankruptcy as a success, you can dig deep and power through.

Here’s what else we’re getting into…

• Disney drops earnings

• Warner Bros. Discovery sounds the alarm

• RIP Robinhood

Enjoy the next 4 minutes and 6 seconds of blue-chip news and commentary.

Keep on snapping necks and cashing checks,

- tyler

PS, congrats to Alex H. from New York for winning the $250 Amazon gift card. Shoutout to everyone who filled out the TWC survey. Your input was super helpful and will help shape the future of TWC. Stay tuned…

+ US stocks "stocks were mixed after the close on Wednesday, as gains in the Technology, Industrials and Financials sectors led shares higher while losses in the Oil & Gas, Utilities and Telecoms sectors led shares lower." (Investing)

+ The 10-year Treasury yield "continued its decline Wednesday as investors considered the path ahead for monetary policy as they looked to comments from Federal Reserve officials." (CNBC)

+ Oil "slid over 2% on Wednesday to their lowest in more than three months on concerns over waning demand in the U.S. and China." (Reuters)

+ Bitcoin broke the $36k mark last night.

+ The three most talked about stocks on WallStreetBets in the past 24-hours were: 1) Nvidia +1.35% 2) Disney -0.11% (AH: +3.31%) 3) Visa -0.36%.

Big game Bob

Extreme 30 for 30 voice: “What if I told you ESPN+ was actually profitable?”

Disney reported earnings after the close yesterday, and Bob Iger engineered another impressive quarter. Revenue missed expectations, but DIS beat the Street’s bottom line consensus.

ESPN+, which turned a profit (something Disney+ and Hulu can’t say…), and Disney’s theme parks (which are so popular people are literally sh*tting in line instead of missing the experience) put the team on their back. Friendly reminder: this is the first-ever report that Disney broke out ESPN.

ESPN+’s older cousin that asks for tech help when you go home to visit (think: ESPN cable network) did its part, too. Operating income rose 16% year over year at the Worldwide Leader.

Disney+, which, for the record, still loses a boatload of money (but is expected to be profitable by the end of 2024… so it’s got that going for it) beat analysts’ subscriber estimates (150M vs. 148M).

Ok, so who didn’t carry their weight?

Listen, I don’t like to point fingers, but ABC needs to get its sh*t together. The network’s ad dollars plummeted thanks in large part to a decrease in political spend. That’s a damn shame, considering Disney has discussed selling off its linear TV offerings, including ABC.

So how is Bob Iger celebrating?

By “aggressively managing” costs. Spoiler: that means lines are about to get even longer once Bobby Bloodbath is done cracking skulls. The $2B in additional savings (read: layoffs) will bring Iger’s total savings goal to $7.5B.

And since there are few things that get investors harder than a CEO gutting his own company, it shouldn’t come as a shock that despite the revenue miss, shares rose 4% after hours.

Join me at Benzinga’s Fintech Deal Day next week (for those of you asking, yes, I will actually be there)…

Let’s hang at Benzinga’s Fintech Deal Day (Monday, November 13th) and Future of Digital Assets (Tuesday, November 14th) in NYC next week.

The two days of events bring together 1k founders, operators, and investors to share the latest trends and opportunities in fintech and digital assets.

Confirmed speakers include big swingin d*cks from BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO Capital Markets, Northern Trust, Citibank, Amazon, S&P Global, Google, Fireblocks, Invesco, and Moody’s.

And did I mention I’ll be there?

TWC readers can get 20% off with code TYLER20.

If you buy a ticket, shoot me an email, and we can meet up to talk shop/hit the happy hour.

+ The biggest winners — and losers — in the coming AI job apocalypse (Read)

+ The IRS makes tax filing simpler for next year with long-awaited improvement (Read)

+ ICYMI yesterday... The No. 1 ‘hidden’ skill behind billionaire Bill Gates’ success—it works ‘in any field,’ says psychology expert (Read)

+ Today in things Warner Bros. Discovery investors hate to see: the CEO indicating that the ad market is going through a “generational disruption.”

David Zaslav out here putting on a masterclass in getting out in front of his future failures. During WBD’s earnings call, Dave kept it real. Perhaps too real? He warned about headwinds in the ad market, lingering effects of the actors’ and writers’ strikes, and a streaming service that is bleeding money. Shares got pummeled (obviously), falling 19% on the day.

The most recent quarter’s results probably didn’t do Warner Bros. any favors. Ad revenue declined, although the media giant did manage to meet overall top-line expectations. Meanwhile, the bottom line was more disappointing than that soft-core p*rn show on HBO starring The Weeknd and Johnny Depp’s daughter. Warner Bros. loss came in at 17 cents per share, well above the 6 cents expected. (Read)

+ Not even a riveting performance from Sebastian Stan as Vlad Tenev in ‘Dumb Money’ could save Robinhood’s Q3…

Revenue rose nearly 30% in the quarter but still missed the Street’s expectations. Stonk trading revenue fell 13% and crypto trading dropped by 55%. That is not a typo. Oh, and active users fell by 16%. The stock cratered 14%. But let’s not forget about the real victim here… Ken Griffin and his insatiable appetite for order flow. (Read)

+ Wake up babe, new weight loss drug just dropped. Ozempic and Wegovy have some competition. Eli Lilly’s diabetes drug Mounjaro just got FDA approval to be prescribed for weight loss. It’ll be marketed as Zepbound… once again proving that big pharma marketers are overpaid. LLY was up 3% on the day. (Read)

+ The wait is over, gamers. Just in time for the holidays, Take-Two Interactive is dropping… a trailer for the much-anticipated GTA 6. Shares of Take-Two jumped 5% on the news that it’s going to give us just the tip (just to see how it feels)… ten years after GTA 5. It won’t be totally novel, though. Last year, we got the video game equivalent of the Fappening when leaked gameplay videos of GTA 6 dropped. (Read)

+ Build the statue. Fran Drescher is pretty much the Cesar Chavez of Hollywood. The Nanny/head of SAG-AFTRA (read: actors union) has hashed out a deal with Hollywood studios to end the actors’ strike that has lasted nearly 4 months. Actors could be working again within weeks. (Read)

Here's what I'm keeping an eye on today...

+ AstraZeneca, Wynn Resorts, News Corp, Li Auto, and Archer Aviation report

+ J-Poww goes back to back, speaking at the annual IMF conference

Yesterday I asked What's the worst type of membership to cancel?

You guys really despise cable/internet companies (or maybe it’s just because more of us are cutting the cord, so it’s top of mind). 39.6% of respondents said cable/internet was the worst type of membership to cancel. Gyms were second with 23.2% of the vote. And there was a write-in that got a lot of love (hate?): SiriusXM.

Here’s today’s question…

Been meaning to ask this one. A few weeks back, the internet eviscerated everyone who’s ever taken a date to the Cheesecake Factory. So…

What’s the worst restaurant to take a date to?

Reply directly to this email and I’ll share the best answers tomorrow.

Oh, and one more thing…

Does this look like the face of a guy you should take financial advice from?

No, it’s the face of a God-fearing family man with sh*t-for-brains. So, act accordingly...

This is not financial advice. Nothing in this newsletter is an investment recommendation. All content is created for entertainment, educational, or informational purposes only. Do your own research, or do yourself a favor and hire a professional.