Can't Go To CryptoZoo Anymore
Infamous Youtuber Logan Paul, known for his controversial stunts and antics, apologized again – this time for the failure CryptoZoo. Promising "the future of cryptocurrency to the palm of your hand" was a scam. So crypto investment advice from a YouTube influencer can't be trusted? Call us crazy
Legal Sidestep In Crypto Fraud Case
Hard to even act surprised when the crypto wild west confirms questionable practices, but recent fraud charges against FTX founder Bankman-Fried sidestep the ongoing debate over how U.S. law views cryptocurrency. Prosecutors are focusing on fraud and leaving grey swampy areas surrounding digital assets to others. And who can blame them?
Ukranian Startups Rock On
The resilience of the Ukrainian startup community is awesome. Despite facing war, bombs, and the Russian bear, startups continue to thrive and innovate. Kudos to these fearless founders and fighters for rocking on, continuing to create, and bringing light to what could have been a dark world. Rock on!
Feeling pressure to cut costs and boost profits Amazon announced plans to lay off an undisclosed number of corporate employees. Amazon's diet seeks to create a "more efficient company". Want to bet the Big A uses the new cash to buy up more small businesses? We didn't think so.
UK FinTech Hub Predictions
We loved the four predictions here, including 1. Investors focus on profitability 2. Consumers cut back (can you say streaming services) 3. Buy Now Pay Later will have a tough 2023, and 4. Employers will help with cost-of-living. Rare to find such succinate cogent predictions that feel more likely than not. We read all four of those predictions as feasible for the US too.
Bitcoin Geek Gets Robbed
One of the earliest Bitcoin Core Developers, Luke Dashir, claims to have been hacked, losing his 216 bitcoins coins worth more than $3.5m at today's bitcoin value of $16,680. Dashir Tweeted his Bitcoin burglary on New Year's Day, stating at least he had a few bitcoins left. But, wait for it; then, the thieves stole what remained. As a result, Dashir's friends keep him from visiting tall buildings.
Tesla (TSLA) CEO Elon Musk sold 22m shares worth $3.5bn for a $40bn total in 2022. Musk lost his position as the wealthiest person in the world because TSLA lost 73% of its value since its November 2021 high and his ongoing stock sales. Musk's billionaire boys club behavior is one of the reasons for TSLA's decline. Tough paying that $44m for something now estimated to have a 41bn market cap (CompaniesMarketCap.com).
Apple & Tesla's Stock Pain
Apple (AAPL) & Tesla (TSLA) stocks plunged on a triptych of issues, including supply chain pain, recession fears, and the potential of a Chinese labor shortage. As a result, AAPL hit its lowest point since June 2021, with TSLA dropping 73% from its record high in November 2021. Despite the possibility of production returning to normal by mid-February, some fears persist. In addition, Tesla has an Elon Musk hangover heading into the new year. Musk's inconsistent behavior and stock sales has investors running for the exit.
In a move sure to have no impact on TikTok's 16 - 24-year-old 60% female users, the fastest growing social media application is banned from smartphones managed by the US House of Representatives. Congress will continue their feckless attempt to turn back the TikTok tide by extending the ban to federal "devices" due to "security risks." Our question is does banning TikTok in this way make it more or less likely their rapid ascension will continue unabated? The question answers itself.
Unintended Fortnite Cost Millions
Epic games will pay hundreds of millions in fines in a settlement with the FTC after misleading millions of players, including children and teens, in a landmark federal children's privacy suit. "No developer creates a game to end up here (sued by the FTC)," Epic said in a blog post. FTC Chair Lina Khan said the settlement shows the agency's focus on privacy, particularly "dark patterns," design elements intended to nudge users toward a company's preferred result. Social media, are you listening?
Crypto's Winter of Discontent
Crypto keeps on losing. Bitcoin's value is more than cut in half, FTX is bankrupt, and Sam Bankman-Fried models handcuffs. The FTX crypto contagion isn't slowing, so throw all these events at a recessionary economy, and crypto is facing a long, hard, cold winter.
Twitter New Boss Same as the Old Boss
The chief Twit lost a poll when 47% of Twitter users voted for his removal as CEO. Even if Musk isn't Twitter's CEO he will still be the owner. Musk piled so much debt on Twitter its unlikely he will simply take his other toys and go home. Perhaps Twitter users and advertisers want someone who wants a better platform instead of trying to burn it to the ground as fast as possible. Call us crazy.