Weekly recap 10/30/21 Posted by @Black Wolf
Meet Meta. After a bruising month of bad news, internal leaks, and disruption from Apple’s privacy crackdown, Mark Zuckerberg unveiled the biggest rebrand for Facebook since he dropped the definite article. That shakeup heralds an ambitious, and expensive, push to build a virtual reality-powered digital world and leave behind a toxic brand.
Tesla had an electrifying week thanks to two mega-deals. The electric car maker signed a 100,000 vehicle order with car rental giant Hertz pushing its share price, and CEO Elon Musk’s net worth to all-time highs. Half of the Hertz order will be leased to Uber in a bid to electrify its ride-hail network.
The ‘glass ceiling’ still exists in many industries. A new analysis of gender pay inequality has revealed firms have prioritized managing the optics over real change giving rise to the “glass floor” with women’s salaries banded around median pay.
The host of COP26 has come under fire. In the lead-up to the Glasgow climate summit, the United Kingdom's Budget was slammed as “climate-void” with moves to cut the cost of domestic airfares drawing the ire of campaigners and scientists.
The Trump SPAC had a wild of trading. Shares of Trump Media and Technology Group soared by over 550% following the announcement that it would go public via a blank check company merger. But while few Wall-street elites stand to gain a lot, many of Trump's loyal supporters are destined to lose out.