Rich Habits Podcast: Trump Loves AI Robots, Spotify Music Videos, & "Metaverse" Hype Fading

Hosts: Austin Hankwitz & Robert Croak
Date: December 5, 2025

Episode Overview

In this episode of the Rich Habits Podcast, hosts Austin Hankwitz and Robert Croak dive into the latest financial news shaping your money and investing decisions. They tackle Meta’s massive Metaverse budget cuts and the pivot to AI, troubling updates on the US job market, exploding “Buy Now, Pay Later” usage during Cyber Monday, and radar points covering AI robotics, Spotify’s move against TikTok, and more. The duo also shares their insights on new developments involving Amazon, Netflix, and Mark Cuban’s push to change the drug manufacturing landscape.

Key Discussion Points & Insights

1. Reflecting on the Podcast’s Growth

• Acknowledgment of Listeners (00:48 – 03:11):
  • Austin thanks listeners for making Rich Habits the #1 podcast for 77,000 people on Spotify in 2025.
    • “It is unreal to think about... my whole family went to the University of Wisconsin and their college football stadium holds 76,000 people. If you look around the whole stadium... it still wouldn’t hold all of the people, 77,000, that kept Rich Habits at the top of their podcast rotation.” – Austin (01:16)
  • Robert expresses gratitude for listener support and engagement over the years.

2. Meta (Facebook) Slashes Metaverse Budget, Focuses on AI

• Meta’s Strategic Shift (03:16 – 06:21):
  • Meta is reducing its Reality Labs (Metaverse arm) budget by 30% for 2026 after losing $70 billion since 2021.
    • “$70 billion since 2021 trying to build these... Unbelievable.” – Austin (03:41)
  • Investors and analysts view the move as bullish for Meta’s stock, anticipating redirected funds to buybacks or earnings.
  • Mark Zuckerberg pivots focus from Metaverse to building out AI and generative technology, barely mentioning “Metaverse” lately.
  • Both hosts agree the Metaverse spending was not “wasted,” but too early and driven by Zuckerberg’s personal vision.
    • "It wasn't wasted money. It was just too early and it was too much of a vanity project..." – Robert (05:59)

3. US Job Market: Troubling Signs & Implications

• Job Losses in November (06:21 – 08:50):
  • Per the ADP report, the US economy lost 32,000 jobs in November, versus expectations of 40,000 additions—a net miss of 72,000.
    • “We didn’t just, like, come below those expectations but still be in the positive. We were in the negative.” – Austin (06:43)
  • Small businesses (under 50 employees) were hit hardest, shedding 120,000 jobs; large enterprises actually added jobs, highlighting a “K-shaped” recovery.
  • Hosts discuss the growing disparity:
    • “Half of the U.S. economy right now is being driven by just 10% of people.” – Austin (08:34)
    • “74% of all the spending was coming from the top 20% of all US households.” – Robert (08:50)
  • The job report raises odds of an imminent Federal Reserve rate cut — betting markets show a ~90% chance.
  • Cutting rates could be bullish for the stock market, but recession risk looms if trends worsen.

4. Shock Record: $1 Billion in “Buy Now, Pay Later” on Cyber Monday

• Rise of BNPL (09:07 – 11:19):
  • New record: Over $1 billion in Cyber Monday sales were made through buy now, pay later platforms like Affirm, Afterpay, and Klarna.
    • “It is insanely shocking... Americans set a record with over $1 billion of purchases being made using these Buy Now Pay later products...” – Austin (09:07)
  • 79% of BNPL purchases happened through mobile devices, indicating how seamless and “too easy” debt acquisition has become.
    • "We're making it just too easy for people to lay in bed scrolling TikTok, see an ad and then paying it in four easy installments without even blinking an eye. It drives me crazy.” – Robert (09:53)
  • Despite surveys suggesting people planned to spend less, actual spending was higher, with debt filling the gap.
  • Advice: Use BNPL responsibly—a temporary fix often leads to longer-term debt liability.

5. Markets Radar: ETF Performance Breakdown

• ETF Sector Movements (11:19 – 13:44):
  • Winners:
    • Best performing ETF sector: Metals (excluding gold) up 97% YTD, including silver, copper, and palladium.
    • Crypto and psychedelics/cannabis also rallied.
      • "It's not just the precious metals that is gold, but it's a lot of other things. ... This little breakdown does a great job illustrating how important it is to have a well diversified portfolio." – Austin (12:54)
  • Losers:
    • Worst performers: Healthcare technology, volatility, biotech/genomics (−3% to −3.5%).
  • Key takeaway: Diversification beyond standard stocks/bonds is crucial. Hosts reinforce that listeners must act on advice.

6. Radar Points: Hosts' Personal News Picks

Austin’s Radar Points (13:44 – 16:46):

1. Trump Administration’s Push into AI Robotics:
   • Commerce Secretary Howard Lutnick and robotics CEOs are advancing robotics and advanced manufacturing to boost US competitiveness against China.
   • Investors (like the hosts and their network) in robotics company Apptronic stand to benefit; public market exposure via ETFs: ARKQ, ROBO, BOTZ.
2. Spotify Challenges TikTok with Music Video Integration:
   • Spotify plans music video support and deeper video/audio integrations, aiming to rival TikTok and YouTube.
   • Signed deal with Netflix for select video podcasts; hint at potential Rich Habits video podcast in the future.
3. Who Will Lead the Fed?
   • Trump will announce next Fed Chair early 2026; betting markets favor Kevin Hassett.
   • If appointed, deep rate cuts are expected, impacting markets significantly.
   • “If that takes place, I would imagine we experience some deep rate cuts in 2026.” – Austin (16:44)

Robert’s Radar Points (16:46 – 20:22):

1. Netflix Bidding for Warner Bros. Discovery:
   • Netflix, Paramount, Skydance, and Comcast are in a ~$70 billion bidding war.
   • 85% of Netflix's offer is cash; potential huge industry shake-up.
2. Amazon Ends USPS Delivery Partnership:
   • Amazon may stop using USPS for package deliveries by 2026, impacting USPS finances and customer shipping experiences.
   • Significant move for Amazon’s logistics strategy and implications for consumers and investors.
3. Mark Cuban's Push to Waive Generic Drug Application Fees:
   • Cuban urges FDA to drop $360,000 generic application fee to boost domestic drug manufacturing.
   • Cuban’s Cost Plus Drugs could make rare and expensive generics affordable, assuming regulatory changes are made.
   • “If there’s something that costs $100 or more and we can manufacture it here for less and sell it for less, that’s a huge win for the people that need affordable medicine.” – Robert (paraphrasing Cuban, 19:32)

Notable Quotes & Memorable Moments

• "We can lead people to water, but we can’t make them drink. It is up them to take notes and take action and get in the game because there is always ways to make money in all market conditions." – Robert (13:33)
• "Half of the U.S. economy right now is being driven by just 10% of people. It just shows the massive disparity..." – Austin (08:34)
• "Have a plan, stick to the plan. And do not be someone that says, I can't afford it, so I'm just gonna buy now, pay later it. ... that's not something we advise." – Austin (11:19)
• "It wasn't wasted money. It was just too early and it was too much of a vanity project..." – Robert (05:59)
• “$70 billion has been, I wouldn't say wasted, because ... The Meta Ray ban smart display glasses are kind of cool.” – Austin (05:12)

Timestamps for Key Segments

• 00:48–03:11 – Reflections and gratitude for listener milestones
• 03:16–06:21 – Meta’s Metaverse cuts & pivot to AI, stock implications
• 06:21–08:50 – US job market breakdown, income/spending disparities
• 09:07–11:19 – $1 billion in BNPL spending, financial wellness warnings
• 11:19–13:44 – ETF sector performance and portfolio strategy
• 13:44–16:46 – Austin’s radar: AI robotics, Spotify, Fed Chair speculation
• 16:46–20:22 – Robert’s radar: Netflix bids, Amazon/USPS split, Mark Cuban’s pharmacy push

Tone & Style

Consistent with the show: conversational, energetic, and sprinkled with personal anecdotes and actionable tips. Both hosts maintain an approachable financial educator vibe, speaking candidly about both macroeconomic headlines and practical implications for everyday investors.

Actionable Takeaways

• Watch Meta and the broader AI sector; resource reallocations can make companies more profitable.
• Monitor Fed policy updates—rate cuts could impact stocks and recession odds.
• Be cautious with BNPL and holiday spending; make and stick to a budget.
• Consider adding metals and diversified assets to portfolios.
• Look for investing opportunities in robotics, AI, and regulated healthcare disruption.

For more insights, join their Rich Habits Network for deeper dives, investment opportunities, and weekly Q&As.