Netflix shares fall 20% on slowing subscriber growth
$Netflix (NFLX.US)$ missed its subscriber target for the latest quarter and forecast a much-smaller number of subscriber additions for the current quarter than it did a year ago, sending its shares down 19% in after-hours trading.
The company on Thursday said it signed up 8.3 million subscribers in the latest quarter, bringing its paid global subscriber base to 221.8 millio...

On last Sunday, Elon Musk tweeted a TikTok of an interview between Bill Gates and David Letterman in 1995, asking, "Given the almost unimaginable nature of the present, what will the future be?" After showing the interview clip, the TikToker who post the interview comments that what Gates said about the internet is the same as "what's happening now with Web3."
Watch the TikTok:
Web3 is the decentralized iteration of the internet based on blockchain technology, which powers nonfungible tokens, or NFTs, and underpins cryptocurrencies like bitcoin. Supporters of Web3 think , like $Amazon (AMZN.US)$ , $Apple (AAPL.US)$ , $Alphabet-A (GOOGL.US)$ , $Meta Platforms (FB.US)$. With Web3, users would ideally control their own data instead.
However, Elon Musk tweeted Web3 is not real, "it seems more like a 'marketing buzzword' than a reality."
In the comment session under the tweet, some people agree with Musk that Web3 is currently little more than a buzzword, while some commented it is just not fully real just yet.
A day later, Musk followed up saying: "Has anyone seen web3? I can't find it.”
On this Tuesday, Jack Dorsey, $Twitter (Delisted) (TWTR.US)$'s founder, also tweeted his opinion about Web3. He believes that VCs and their limited partners will be the ones who ultimately end up owning Web3.
So, what do you think about Web3? Do you agree with Elon Musk and Jack Dorsey?
Source: CNBC, Twitter

$XIAOMI-W (01810.HK)$ Lei Jun is ready to retire (leaving it to the CEO who will continue to invest...)

Asian stocks set for mixed start after U.S. drop
Asian stocks looked set for a mixed start Friday following a decline in U.S. shares led by the technology sector as tightening monetary policy to fight inflation buffets investor sentiment.
Australian equities edged up, while futures pointed lower for Japan and were little changed for Hong Kong. The tech-heavy $NASDAQ 100 Index (.NDX.US)$ sank the most since September, skidding on reduced appetite for more richly valued investments amid the Fed's pivot toward scaling back outsized stimulus. U.S. equity contracts wavered in early Asian trading.
Apple leads big tech lower as investors reconsider Fed moves
Megacap tech names initially saw a positive reaction to the Fed's statement on Wednesday, with investors buying up shares of $Apple (AAPL.US)$, $Microsoft (MSFT.US)$ and $NVIDIA (NVDA.US)$, among others. But those stocks came under pressure Thursday, erasing most or all of their gains.
Apple shares declined 3.9% on Thursday, with the iPhone maker retreating further from a $3 trillion market valuation as it posted its worst day since March. Among other names, Microsoft fell 2.9%, $Amazon (AMZN.US)$ slid 2.6%, and Nvidia shed 6.8%.
Melania Trump is releasing an NFT that will cost 1 SOL each
Melania Trump has become the latest celebrity to try to cash in on the craze for non-fungible tokens.
The former first lady's first NFT, called Melania's Vision, will include watercolor art that "embodies Mrs. Trump's cobalt blue eyes, providing the collector with an amulet to inspire," according to an emailed statement. It will be available from Dec. 16 to Dec. 31 for one SOL, a cryptocurrency that runs on the Solana blockchain, currently priced at $187.
A pair of teenagers helps launch ETF targeting youngest traders
An exchange-traded fund tracking U.S. companies that adhere to the values of Generation Z starts trading on Thursday.
The $THE GENERATION Z ETF (ZGEN.US)$ tracks a portfolio of "future-focused companies that align with Generation Z," according to a press release. It will trade under the ticker ZGEN and charge a fee of 0.6%, the fund's website says.
Consumer Financial Protection Bureau probing 'buy now, pay later' companies, including Affirm, Klarna
The bureau issued orders seeking information from the firms that would help it examine concerns such as the kind of role these ' buy now, pay later' plans play in increasing consumers' debt and how these companies use consumer data, the agency said.
The CFPB said the ease of getting these plans can mean consumers end up spending more than anticipated. $Affirm Holdings (AFRM.US)$ dopped 10.6% on Thursday.
Rivian shares slide after company cuts 2021 EV production expectations
$Rivian Automotive (RIVN.US)$ said it expects to fall "a few hundred vehicles short" of its 2021 production target of 1,200 vehicles. The company said it faced supply chain issues as well as challenges ramping up production of the complex batteries that power the vehicles.
The updates come alongside Rivian's first quarterly report as a public company and confirmation of plans for a new $5 billion plant in Georgia that's expected to come online in 2024.
Millennial millionaires plan to add more crypto in 2022, CNBC Millionaire Survey finds
Most millennial millionaires have the bulk of their wealth in crypto, and they're planning to add more in 2022 despite the recent price declines, according to the CNBC Millionaire Survey.
Fully 83% of millennial millionaires own cryptocurrencies, according to the survey. The crypto holdings of millennial millionaires stand in stark contrast to older generations of millionaires, and could create a new dilemma for wealth management firms and how they work with clients.
Netflix slashes India prices in battle with Amazon, Disney
$Netflix (NFLX.US)$ this week said in a blog post from India executive Monika Shergill that it is cutting its basic plan in India by 60% to 199 rupees, equivalent to $2.61, a month. Netflix also lowered prices on its least expensive plan and most expensive plan.
Despite the price cuts, Netflix is still more expensive than competitors. Netflix has some 5 million subscribers in India, according to data from consulting firm Media Partners Asia, far fewer than Amazon Prime Video's 19 million and $Disney (DIS.US)$ Disney+ Hotstar's 46 million.
Source: Bloomberg, CNBC, WSJ

$Grab Holdings (GRAB.US)$ later up or down?