Say you have numbers X and Y
When Y is 1 you want to times X by .5,
When Y is 2 you want to times X by .5 then by .25,
When Y is 3 you want to times X by .5, then by .25 then by .125, and so on.
How can I do that in a spreadsheet? It's like a ^ but it halves itself every step?
What you need to get this effect is to do the following:
Let $Z = \prod_{i=1}^Y 2^i$ so what you want to do is multiply $X$ by $Z^{-1}$.
Now, we get that $$Z = 2^{\sum_{i=1}^Y i} = 2^{\frac{Y(Y+1)}{2}}$$
So this is the number you need to multiply by the inverse of.