The year of efficiency 💡

"Eventually you just have to realize that you're living for an audience of one."

- Pamela Anderson

👋 GM! Rallie here, the newsletter sailing you through the choppy waters of crypto and tech. Grab your life jacket and let's dive in.

On the menu:

• 💡 2023: The Year of Efficiency

• 🚀 Cathie's bullish on bitcoin

• 👱‍♀️ Justice for Pam

• 💸 Refresh: RRSPs

• 💯 Top tweets

Rallie Recap

💡 The Year of Efficiency—now that's a pretty good spin.

• On Wednesday, Meta released its fourth quarter earnings, sending shares soaring >20% in extended trading after posting better-than-expected revenue and a $40B increase to its buyback program.

• During the earnings call, CEO Mark Zuckerberg, spoke about cost-cutting measures, coining 2023 as the 'Year of Efficiency' with a focus on becoming a 'stronger and more nimble organization.'

• Zuck's commitment to financial prudence and profitability had investors swooning, a welcome change after a rough 2022, where Meta's share price plunged 64%.

• Meta also made headlines for their Reality Labs unit, which lost an eye-popping $13.7B in 2022—the largest ever yearly loss recorded for its metaverse division.

• Despite the loss, the company said it isn’t planning for any reduction in the metaverse anytime soon as Zuck still sees it as the company’s future.

🚀 The Queen of Wall Street isn't backing down on Bitcoin.

• Cathie Wood, the founder and CEO of ARK, an investment management firm known for its focus on disruptive technology, is keeping her bullish stance on Bitcoin (BTC) in the firm's annual Big Ideas Report, released this week.

• In their boldest prediction yet, ARK expects Bitcoin to hit $1.48M in 2030, with ~$258K being the bear case and ~$682K being the base.

• The report goes on to say, “Despite a turbulent year, Bitcoin has not skipped a beat. Its network fundamentals have strengthened and its holder base has become more long-term focused.”

BTW, Bitcoin is currently hovering around $24K. If ARK's math is correct, that number could ~61X by 2030. We wouldn't throw Bitcoin out of bed for that return, just sayin'.

Headlines That Hit

• 🥷 Michael Burry, the guy who predicted the 2008 housing crash (aka Christian Bale in The Big Short), spiked Fintwit's blood pressure with a one-word tweet: sell. Known for his doomsday predictions, he later deleted his account (again).

• 🚴‍♀️ Peloton is picking up speed. CEO Barry McCarthy says the company is making an epic comeback as shares pop 26% after posting increased subscription revenue.

• 😭 More tech layoffs: Paypal, Snap, and Intel announced workforce reductions this week. Excuse us while we go cry in the corner.

Why We Rallie

👱‍♀️ If there's one thing you should consider doing this weekend, it's watching Pamela Anderson's new Netflix documentary, Pamela, A Love Story. 

• A thought-provoking watch, the film documents Anderson's life in the media and the disrespect and harassment she's been subject to as a woman in the spotlight.

• It highlights a pattern of abuse and complacency in a celebrity-obsessed culture that's been played out many times in recent years—think Britney, Lindsay, and Paris.

• The documentary brings up important conversations around consent, owning your body, and taking control of your narrative against those who refuse to see your humanity. 

Hats off to Pamela Anderson for telling her story, while standing up for women everywhere. It's never too late to flip the script.

Rallie Refresh: RRSP 

💸 It's almost tax season, so it's time to get your ducks in a row. Here's what you need to know about contributing to your Registered Retirement Savings Plan (RRSPs):

• In Canada, you can contribute to your RRSP every year to save for your retirement while lowering your tax payable.

• RRSPs aren’t tax-free, but they are tax-deferred, meaning you won’t owe taxes on the money you put into your RRSP until you withdraw it, usually after you retire.

• The first-60-days rule: You can contribute to your RRSP at any point during the year, plus the first 60 days of the following year. Contributions you make in Jan & Feb are deducted from your previous year’s income.

• Contribution deadline: March 1, 2023. If you make contributions after this date, you will have to claim them as deductions on your 2023 tax return.

And if you need more help with RRSPs, check out this article by our friends at NerdWallet.

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Our fav funnies to get you through the day. 

Congrats, you made it to the end! 

That's all for today. Stay hungry & we'll catch you next time. ✌️ 

DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.