The Cynic: November 19

BUSINESS
This Week’s Business News

Senate to Grill Trump’s CFTC Pick on Crypto Regulation

Washington is about to ask crypto to explain itself like a teenager caught sneaking in at 3 a.m. Senators will question Michael Selig, Trump’s nominee to head the CFTC, about how he plans to regulate crypto and handle election betting markets.

If Congress passes the CLARITY Act, his job gets way bigger. The bill would draw clearer lines between what counts as a commodity versus a security, forcing the CFTC and SEC to cooperate like divorced parents.

Selig says he wants the U.S. to lead the crypto world. He’s currently the SEC’s crypto task-force counsel, making him one of the few regulators who can read a blockchain diagram without needing a nap.

Saudi Crown Prince Courts Corporate America

MBS basically hosted a networking event powered by trillion-dollar promises. He met with top U.S. CEOs in Washington, pitching new partnerships and highlighting billions in Saudi investments.

He even raised his U.S. investment goal to $1 trillion. That’s up from a previous $600 billion target, announced while sitting beside Trump at the White House.

It’s part image rehab, part geopolitical strategy. It’s his first U.S. trip since the Khashoggi killing, and he’s using big checks and big business to reshape his standing in Washington.

Target Sales Fall Again as Company Preps a $1B Overhaul

Only in retail do falling sales inspire spending another billion dollars. Target’s comparable sales dropped 2.7% and total revenue slipped 1.6% as shoppers tightened budgets.

Their holiday plan is “discount everything and renovate the store.” Target is cutting prices on thousands of everyday items, offering cheaper holiday meals, and investing another $1 billion in remodels and new stores.

A new CEO inherits the chaos. Michael Fiddelke takes over next year after job cuts, restructuring, and fierce competition from Walmart and TJX.

Before we jump into today’s Real Estate chaos:

Roku is giving readers $5,000 in free ad credits.

Yes, actual free money.

If you run a Shopify brand, this is one of those “it sounds too good” deals that is… annoyingly real.

More below 👇

Find your customers on Roku this Black Friday

As with any digital ad campaign, the important thing is to reach streaming audiences who will convert. To that end, Roku’s self-service Ads Manager stands ready with powerful segmentation and targeting options. After all, you know your customers, and we know our streaming audience.

Worried it’s too late to spin up new Black Friday creative? With Roku Ads Manager, you can easily import and augment existing creative assets from your social channels. We also have AI-assisted upscaling, so every ad is primed for CTV.

Once you’ve done this, then you can easily set up A/B tests to flight different creative variants and Black Friday offers. If you’re a Shopify brand, you can even run shoppable ads directly on-screen so viewers can purchase with just a click of their Roku remote.

Bonus: we’re gifting you $5K in ad credits when you spend your first $5K on Roku Ads Manager. Just sign up and use code GET5K. Terms apply.

Use code GET5K now

REAL ESTATE
This Week’s Real Estate News

Half of Americans Think It’s a Buyer’s Market Now

Apparently, the real estate vibes have spoken: it’s “buyer season.” A CNBC survey found that 49% of Americans now think the market favors buyers.

People are finally noticing they can negotiate again. Higher inventory and longer days-on-market are giving buyers more leverage, even if prices aren’t exactly cheap.

But cheaper isn’t the trend — flexibility is. Sellers are slowly abandoning their pandemic-era fantasies, making room for concessions, repairs, and the occasional reality check.

Mortgage Rates Hit a One-Month High, Loan Demand Drops 5%

The mortgage market just reminded buyers who runs the show: the rate sheet. Rates climbed to their highest level in a month, sending mortgage demand down 5%.

Higher rates stalled both purchases and refinances. Even with more inventory hitting the market, affordability took another punch.

Buyers now appear only when rates dip. Every bump sends them back into hibernation, forcing agents to repeat the classic line: “No, I can’t negotiate with the Fed.”

Walkable Neighborhoods Come With Higher Price Tags

The hottest new luxury feature is simply walking outside. Listings that highlight “walkability” more than doubled in the past year.

And those listings usually cost more. Homes near shops, parks, and transit command a premium because buyers are paying to avoid car-dependent misery.

Young buyers especially want sidewalk life. Millennials and Gen Z increasingly treat walkability like an amenity — right up there with quartz countertops and not living 20 minutes from the nearest coffee.

FUN
Riddle Me This

I never buy a house, yet I sell them all the time.
When I’m low, lines form; when I’m high, “maybe next time.”
I price tomorrow with numbers you pay today.
What am I?

Reply to this email with the answer for a chance to win a surprise

ADVICE
This Week’s Business Advice

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