Welcome to Nightpixels, a data-driven visual blog about investing, business, and technology.

Nightpixels is published each week by Nightview Capital Research Analyst Cameron Tierney. Follow him here on X.

The creator economy is maturing as revenue sources diversify

A survey from Emarketer reported by The Information shows how creators make money online is changing. Since the last survey from Emarketer in 2021, a far greater percentage of total creator revenue (77%) now comes from ‘sponsored content’, i.e. deals creators made with brands. As of 2023, the Emarketer survey indicated platform payouts (i.e. ad revenue share) are accounting for a much higher amount of creator income. Affiliate content also rose in the ranks of creator income from fifth to third.


Online sports betting has yet to reach the three most populous U.S. states

This is a map from Draftkings’ November 2023 Investor Day slide deck. It showcases the various stages of online sports betting legalization across the U.S. states. As it stands today, about half of the country has access to legal online sports betting. Notably, the three most populous states (CA, TX, and FL) have yet to legalize and could provide the next wave of growth for OSB businesses.


Distraction vs. focus

I am a big fan of the Jack Butcher-run X account Visualize Value. In one of his recent posts, he shared this image depicting how distractions create artificial ceilings to progress, whereas honing focus creates the opportunity for outsize results over time.  


DoorDash’s platform is demonstrating scale

As DoorDash’s platform has grown, so has its take-rate on platform revenue. Since 2019, the company’s take rate is up almost 5%. Additionally, unlike other covid-era fads, it appears America’s food delivery habit during the pandemic was sticky. The data depicted above is from DoorDash, but the chart is from the Chartr X account.


Pickup trucks are mostly used like cars

This graphic shows the results of a survey inquiring how F-150 truck owners use their vehicles over a 9 year period, ending in 2021. Only 7% of F-150 owners reported using their vehicles to tow something frequently, with 63% reporting rarely or never using their vehicles in this way. The most common uses for these trucks are the same as compact cars – normal everyday errands and driving. As EV pickups continue to launch, one area where EVs struggle is towing range. This data indicates that might not be such a problem for many pickup drivers, never mind those who’ve never owned a pickup before. 


The socioeconomic strata of pandemic-era wealth gains may surprise you

According to Federal Reserve data, the bottom 90% and top 0.1% of U.S. households by wealth gained as a percentage of total U.S. household wealth since the pandemic-era. The top 9.9% lost share of the wealth pie.


Credit card interchange fees may soon be subject to Economics 101

Visa and Mastercard reached a landmark $30B antitrust settlement with U.S. retailers that will spur changes to interchange fees—if court-approved. The big news is retailers will be able to individually negotiate interchange fees on cards and charge consumers appropriately. Today, the card networks levy fees without negotiation and retailers are barred from charging customers different fees on different credit cards. Unsurprisingly, the U.S.’s interchange fees top the list. It’s unclear exactly how the fees will ultimately end up shaking out, but it does seem change is imminent.