Take-Rate Internet: Shops, Apps, Streams

With the AI complex leading Nasdaq decliners into the Oct. 9 close, the better risk is consumer internet platforms that get paid on subscriptions, ads, and commerce take rates rather than GPU capex. These businesses still compound on engagement and merchant activity even if data-center multiples compress. The basket is the liquid way to own that cash-flow layer without cloning payments, LatAm fintech, or experiential retail books already live. Launch basket (equal weight): NFLX, SHOP, APP, MELI, UBER, PINS, RBLX, TTD, CHWY, TOST Rules: 1. No inverse, leveraged or volatility ETFs. 2. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.