Summary: Digestible financial news. Get smarter fast with an entertaining breakdown of our top 3 business stories in 15 minutes. Pairs perfectly with your commute, workout, or morning oatmeal ritual. Hosted by Jack Kramer and Nick Martell.
Venmo was shocked when fraud issues surged to cost it $40M in a single quarter. GM’s closing 7 plants and firing 15K and it’s blaming you. And Amazon already won Cyber Monday, but we’re more interested in the innovation it’s doing to its boxes and the ad industry (FYI, advertising will become its most profitable biz in 3 years).
TikTok’s the karaoke-ish app beating Instagram, Facebook, and Snapchat, and you should know it. Black Friday was a disaster for 8 companies, and we’ll give you the reason why for free. And the official government Climate Change Report was released, and it tells us the unfortunate winners and losers (though we’re all losers) of global warming.
Black Friday is no more. Not a thing. Change your perception, because the new shopping reality is “Black Fri-Month.” FANAMA is fam of tech stocks that caused markets to erase all their winnings from 2018. And Boingo is the adorable wireless provider that just shocked everyone.
No gowns are technically affected, but David’s Bridal just filed for bankruptcy and (shocker) says our generation is the reason. Buzzfeed announces a new growth strategy that affects all of digital media. And Nissan/Renault/Mitsubishi Chairman Carlos Ghosn shocks the car industry after he’s arrested in Japan.
Levi’s wants to try on an IPO (again) for a $5B valuation early next year. Brexit realizes it can either have a Gwyneth style divorce or Brangelina mess. And Viacom’s earnings rose, but we’re just scared for Nickelodeon.
Football club ManU announced its ticket sales growth slowed, but we’re blaming it on bad scheduling. Walmart hit an ecommerce milestone and we got more deets on its secret AI-focused innovation lab on Long Island. And Pacific Gas & Electric is “Too Big To Fail” even though it may have sparked California’s wildfires.
Victoria’s Secret fired its CEO because she isn’t woke enough to catch on to bralettes. Bitcoin’s fallen 13% to exactly where it was a year ago specifically because of 2 guys. And Uber’s pre-IPO earnings revealed its ride hail growth is slowing -- But Uber Eats food delivery is crushing life.
Amazon’s officially (finally?) decided on 2 locations for its 2nd (and 3rd?) headquarters: Long Island City, NY and Crystal City, DC -- We say why HQ2-palooza was bad long term. Spotify just released its new Apple Watch app and it’s really not good. And oil prices are having their worst month in 3 years, and the story why is an international drama.
Goldman Sachs’ scandal in Malaysia is a bribe fest that dropped its stock 7%. Liquor legend Diageo is selling off 19 of your go-to throwback liquor brands, from Goldschlager to Popov Vodka, but it’s all part of a top-shelf strategy. And Qualtrics is our “Shocker of the Day” because it sold itself for $8B -- days before it was about IPO.
Alibaba’s annual Singles Day ecommerce celebration beat Amazon’s Prime Day within 10 minutes -- but was it a success? Revlon’s got an “Optimization Plan” to fix its fragrance problems. And Juul made a big move on flavored e-cigs, but it’s really all just vape smoke and mirrors.
2018 was Disney’s best one yet, and it doesn’t even compare to what Mickey’s got coming in 2019. Energy drink icon Monster dropped 10% on word it’s got an awkward “situation” with Coca-Cola. And business travel fixer TripAction hit a $1B valuation to become our “New Unicorn of the Day.”
Stocks surged post-election, but the real winner was cannabis stocks as 10 states have now fully legalized weed. Groupon dropped 10% even though it’s got a master plan to save itself. And Roku’s the streaming dongle in 24M homes that should embrace its new position in TV land.
Tinder-owner Match.com’s got an insane new marketing campaign across campuses to get you getting down. Marriott had a bunch of lame excuses for its bad quarter -- and cleaners are striking over its “environmentally friendly” room idea. And Toyota’s putting its small cars down (RIP Prius), and not allowing any pen purchases for 5 years because of its 12 pillars.
Ferrari’s cheapening itself to appeal to Millennials -- with a $220K “entry level” car that’s killing it. Warren Buffett’s Berkshire Hathaway enjoyed its record $18.5B in quarterly profits, but 1 specific move may be a red flag about the US economy and stock market. And HQ Trivia’s plummeted out of the top 10 most-downloaded apps, but its problems are even bigger.
Female club-coworking pioneer The Wing just launched an in-house childcare arm that’s a huge win for gender career equality. 1-800-FLOWERS.com enjoyed a surge in gift basket and flower demand because Americans are celebrating everything. And ecommerce giant Alibaba revealed numbers that tell us more about China than China tells us.