October, 27 2022

⚖️ News From New Zealand

For the first time, New Zealand's parliament is majority female. Soraya Peke-Mason from the liberal Labour Party was sworn in on Tuesday, tipping the balance in the parliament to 60 women and 59 men.

⚖️ GDP Growth

The US GDP grew at a 2.6% pace in Q3, turning growth positive, which is better than Wall Street experts anticipated.

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⚡️ NY Post Hacked

The New York Post was hacked this morning. The publication confirmed via Twitter that they had been hacked. The hackers populated the site with far-right content, including references to murdering left-wing politicians.

⚖️ No Permit Needed in Texas

Texas passed a law last spring that mandated that citizens of Texas did not need a permit to carry a gun. Now, a report from the New York Times reveals that the police in Texas are facing an increasingly armed public and more gun violence than before the law was passed.

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🍿 Donda Academy Closes

Kanye West's school, Donda Academy, abruptly canceled the rest of its 2022-23 school year, telling students that school was canceled via email.

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⚖️ Albuquerque Head Sentenced

A 43-year-old man, Albuquerque Head, has been sentenced to 90 months in prison for assaulting DC police officer Mike Fantone during the Capitol riot on January 6th, 2021.

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💻 Musk Deal Inches Closer

Elon Musk shared more information about his plan for Twitter, assuring advertisers that Twitter won't become a \"free-for-all hellscape.\"

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💻 Apple's NFT Stance

Apple changed guidelines on the Apple App Store for developers. The changes add new regulations for ads and Web3 sales, which increase Apple's revenue from the platform.

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🍿 Sonic's Prime

Netflix will debut the new show Sonic Prime, which is set to feature multiverse shenanigans in December.

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💻 Amazon's Disappointing Earnings

Amazon shares dropped today after it predicted lower profits than estimated during the upcoming holiday season.

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⚖️ Secret Service Interviews

The House committee investigating the Capitol riot in January 2021 will seek testimony from members of the Secret Service about their knowledge of the riot and text messages that the agency deleted about security threats to Congress members.

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⚖️ Hatch Act Violation

Former Trump official Stephen Miller issued a warning to the White House chief of staff, Ron Klain, for retweeting a post that thanked President Biden for alleviating the baby formula shortage, then encouraged viewers to buy Democratic party merchandise.

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💻 Mixed Apple Bag

Apple earnings rose during Q3, outperforming Wall Street's expectations. It also revealed a lower-than-expected demand for the iPhone 14.

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💻 Intel Reports

Intel confirmed today during its earnings report for Q3 that they plan to cut $3 billion in spending next year. It will do so by cutting thousands of jobs.

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The context
Senator Lindsey Graham testifies before a Fulton County, Georgia, grand jury about his involvement in former president Donald Trump's efforts to overturn the results of the 2020 presidential election.
Politics
Tuesday, November 22, 2022

Graham Finally Testifies in Georgia

Senator Lindsey Graham testifies before a Fulton County, Georgia, grand jury about his involvement in former president Donald Trump's efforts to overturn the results of the 2020 presidential election.
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Graham testifies

  • Senator Lindsey Graham testified before a Fulton County, Georgia, grand jury investigating attempts to interfere with the results of the 2020 presidential election today.
  • Graham spent months trying to avoid the subpoena from the grand jury before finally testifying today after the Supreme Court rejected an emergency filing from Graham.
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After all

  • Graham was one of Donald Trump's closest allies in Congress.
  • The subpoena issued by the grand jury asked for his testimony about attempts to interfere with Georgia's election results and a scheme to "find" additional votes for Trump.
  • The grand jury questioned Graham about calls he made to Georgia's secretary of state, Brad Raffensperger.
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The context
The FTC is seeking to block Meta from acquiring the virtual reality fitness platform, Within. The FTC claims that Meta killed in-house plans to develop a VR fitness app in favor of buying Within.
Technology
Tuesday, November 22, 2022

FTC Tells Meta to Look Within

The FTC is seeking to block Meta from acquiring the virtual reality fitness platform, Within. The FTC claims that Meta killed in-house plans to develop a VR fitness app in favor of buying Within.
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No competition here

  • The FTC says that Meta killed plans to design and build its own virutal reality fitness app, instead deciding to poach talent from Within and eventually make an offer to buy the already established virtual reality fitness app maker.
  • The FTC is arguing that the acquistion violates federal antitrust laws because it will decrease competition within the virtual reality fitness market.
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States agree

  • Twenty-three states support the FTC motion to stop Meta from acquiring virtual reality content maker Within.
  • The case argues that the deal would harm industry competition and consumers.
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The context
A Texas regulator has opened a probe into Tom Brady, Steph Curry, and other athletes who promoted the now-bankrupt cryptocurrency exchange, FTX.
Entertainment
Tuesday, November 22, 2022

Texas Regulator Tackles Celebs Who Endorsed FTX

A Texas regulator has opened a probe into Tom Brady, Steph Curry, and other athletes who promoted the now-bankrupt cryptocurrency exchange, FTX.
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Probe opens

  • While little federal regulation exists about the status of cryptocurrencies, state securities laws could be an avenue to reprimand celebrities for hawking crypto.
  • Celebrities heavily promoted FTX, and its downfall could be the biggest lesson yet about the legal risks of endorsing cryptocurrency coins or companies.
  • The SEC has pursued legal action against other celebrities for similar endorsements, including fining Kim Kardashian $1.26 million for promoting a crypto token on her Instagram.
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Celebs on notice

  • The Texas State Securities Board began investigating FTX last month to determine whether state residents were dealing in unregistered securities by buying and selling yield-bearing cryptocurrency coins or tokens.
  • When the company filed for bankruptcy on November 11th, the board expanded its probe to investigate celebrities like Tom Brady and Steph Curry, who promoted the exchange to uninformed and vulnerable fans.
  • The probe will look at what FTX told the promoters to say about the exchange, what they were paid, and what they told fans
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