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Buy Now, Lose Out Later

July 11, 2022
TechCrunch, CNBC
The context
Klarna confirmed that its valuation dropped 85% to $6.7billion after an $800 million funding raise.
Buy Now, Lose Out Later

Overall positive?

  • The buy now, pay later boom is cooling off thanks to inflation, fears of an economic recession, and the worst stock downturn in 50 years.
  • Klarna is a buy now, pay later app that works for online shoppers. The fintech company was expected to hit a $15 billion valuation in a new funding round, but they were valued at $6.5 billion, which is a significant drop.
  • Klarna positively spun the valuation drop, saying that, all things considered, the company was doing pretty well against the backdrop of economic uncertainty.
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Hefty competition

  • The valuation drop shocked and frustrated investors who watched their investment value plummet.
  • The new funding came from existing investors Sequoia and Silver Lake, who said they would use the funding to expand in the U.S.
  • Klarna is facing increasing market competition from companies like Affirm. Big names like Pay Pal and Apple are also expanding into the buy now, pay later market.
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June 8, 2022

This Week In Technology June 2nd

This week, the COO of Meta, Sheryl Sandberg, is stepping down, Elon Musk demanded employees return to the office, and Clearview AI got some bad news.
This Week In Technology June 2nd
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Sources: 

COO No More

Sheryl Sandberg, the COO of Meta (Facebook), announced she would be stepping down after 14 years.

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Tesla's Back In the Office

Elon Musk declared that Tesla workers should return to the office full time or get lost.

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Facial Technology Clampdown

Privacy watchdogs and AI innovators disagree on the way forward for facial recognition technology.

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Entertainment
May 19, 2022

This Week in Entertainment

The defamation trial of actress Amber Heard and actor Johnny Depp raged on and singer Eric Clapton’s European tour is on hold.

This Week in Entertainment
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Sources: 
ABC, Newsweek, Fox News, Billboard, The Hill, CNN

Ongoing: Amber Heard V. Johnny Depp

May 20th, 2022 

Actor Johnny Depp is suing his ex-wife, actress Amber Heard, for defamation over an op-ed penned by Heard about her experience with domestic abuse. The op-ed is allegedly about her marriage to Depp. 

Clapton on Hold

May 18th, 2022

Guitarist and singer Eric Clapton announced that he would cancel two shows on his European tour after testing positive for Covid-19. 

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Go back in time

Entertainment

Rust Documentary Is Moving Full Speed Ahead

February 14, 2023
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The context
The producers of the film "Rust" named Bianca Cline as its cinematographer. The documentary will cover the death of the film's cinematographer Halyna Hutchins during production when a prop gun held by lead actor and producer Alec Baldwin misfired with a live round.
Entertainment
Tuesday, February 14, 2023

Rust Documentary Is Moving Full Speed Ahead

The context
The producers of the film "Rust" named Bianca Cline as its cinematographer. The documentary will cover the death of the film's cinematographer Halyna Hutchins during production when a prop gun held by lead actor and producer Alec Baldwin misfired with a live round.
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Green light for Rust documentary

  • The producers of the film “Rust” announced that they had found a cinematographer to continue the production of the film after it was halted when the former cinematographer Halyna Hutchins was shot and killed in an on-set accident.
  • The producers announced in October that the film would be completed in Hutchins’ honor and that a documentary would be made about the completion of the film.
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Technology

Meta May Be Planning Further Layoffs

February 14, 2023
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The context
Meta is reportedly planning a new round of layoffs that are expected to happen sometime in March.
Technology
Tuesday, February 14, 2023

Meta May Be Planning Further Layoffs

The context
Meta is reportedly planning a new round of layoffs that are expected to happen sometime in March.
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Here we go again

  • Meta is preparing for a new round of job cuts that are expected to take place in March and will affect an unknown number of people.
  • In November, Meta laid off about 13% of its workforce.
  • Meta is one of the few tech companies to expand on earlier layoffs from 2022, and CEO Mark Zuckerberg promised that 2023 will be a year of "efficiency."
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Politics

Higher Than Anticipated Inflation Sparks Fears of Further Interest Rate Hikes

February 14, 2023
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The context
January inflation was higher than expected, sparking fears that the Federal Reserve may enact further interest rate hikes.
Politics
Tuesday, February 14, 2023

Higher Than Anticipated Inflation Sparks Fears of Further Interest Rate Hikes

The context
January inflation was higher than expected, sparking fears that the Federal Reserve may enact further interest rate hikes.
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Higher than expected

  • Consumer prices rose 0.5% in January, according to the Labor Department’s consumer price index, which was higher than experts expected.
  • The Federal Reserve may issue a more aggressive hike in the coming months to slow inflation.
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