Morning ALL, happy Friday. I hope you all have a great day and an even better weekend. Lets dive into this weeks news.
Bitcoin network vs. PayPal in quarterly volume
The Bitcoin network processed an estimated average of $489B per quarter in 2021 — over $150B more than PayPal. Could the Bitcoin network one day process as much volume as companies like Mastercard or Visa?
🥊 Nvidia deal un scrutiny
Nvidia recently announced its intent to acquire ARM, a semiconductor design company, in a $40 billion deal. That deal has already received some flack in Europe, but now the U.S’s very own trade regulators are filing a lawsuit to block the merger. 🥊Remember Qualcomm, Apple, MediaTek, and Samsung all rely heavily on ARM technology. and this merger could stifle competition. Lets wait and see what happens. 🕵️♀️
👋 Bye Bye
Jack Dorsey resigned from his role as the CEO of Twitter. In an announcement , Jack indicated that he has “worked hard to ensure [Twitter] can break away from its founding and founders” and that “now is the right time” to make that break.
💔 Have you ever seen this
On Wednesday every major sector got slammed after Jerome Powell suggested the Fed may let off its bond-buying program as inflation concerns rise. The S&P 500 sold off 1.9% and closed at its 50 day-moving average. The Russell 2K got ripped 1.92% in its third consecutive down day. The Dow dropped 1.86% and the Nasdaq held up the best, though it still lost 1.55%. Here’s a heat map of the S&P 500… A sea of red with just a few survivors.
💼Amazon’s Monopoly explained
It’s taking a bigger and bigger cut of sellers’ earnings—leading to higher prices for you and me. More here
🥑Not just Avo on Toast
millennials head deeper into adulthood and make more money, the personal finance space is adapting to their unique money management attitudes.
For example, 78% of millennials use mobile banking, and finance companies are aligning their services to reflect these preferences.
Asana plunged 16.5% after hours despite better-than-expected earnings and sales data. The software company grew sales 70% year-over-year.
| EPS: ($0.23) (vs. ($0.26) expected)
| Revenue: $100.3 million (vs. $93.9 million expected)
Kroger Company beat on top and bottom lines before the bell, catapulting shares 11% higher. $KR expects higher full-year earnings thanks to the greatest levels of food price inflation in more than a decade.
| EPS: $0.78 (vs. $0.67 expected)
| Revenue: $31.9 billion (vs. $30.1 billion expected)
DID YOU KNOW
LINKS THAT DONT SUCK
📞 Deloitte Releases 2022 Technology, Media, and Telecommunications Predictions
🚨 U.S. Faces Urgent Anti-Hacker Crisis
🎶 Got Your Spotify Wrapped? Treat It Like a Shopping List.