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.
For 25M unbanked Americans, Walmart’s about to become their bank thanks to an epicly large new partnership with PayPal. Direct-to-consumer shoe phenom Allibrds raised $50M to hit a $1.4B valuation. And we break down the main reason stocks just dropped big: interest rates. We tell ya all about them.
No joke. This was the biggest day for the media industry all year -- Apple, Netflix, Snap, Walmart, Costco, AT&T, and a newbie all had disruptive news. Smile Direct Club’s valuation surged to $3.2B as it replaces your braces (and orthodontist). And after 126 years, Sears may be finally calling it quits.
The finale of tech product season wrapped up -- Google’s got a camera-free mini-bot “Home Hub” for your home and a freaky new phone. Papa John’s surges 10% on rumors the hedge fund behind Wendy’s wants a piece. And Starbucks snags $1B from activist investor Bill Ackman because he’s got a thing for coffee.
Perfect timing. And by perfect we mean terrible. Just as it’s “recovering” from more data scandals, Facebook unveils a video chat device for your home. Drugstore chain Walgreens invested in Birchbox to get its beauty game up. And Walmart’s new streaming service wants to take over everywhere that’s not a city.
Cancel the auction -- Toys ‘R’ Us’ creditors cut the bankruptcy plans short and are relaunching the company instead. Overstock.com is so desperate that its venture arm just invested in a blockchain wine company to fix fake wine. And the September Jobs Report hit a record low unemployment rate that’s a wine for wages (and stocks).
This one’s huge -- Reports revealed that China’s got a secret government unit embedding US servers with spy chips. Hershey’s online sales shockingly surged 30% thanks to 2 new innovations to get you splurging on chocolate online. And liquor legend Constellation Brands enjoyed double-digit sales growth along with its pot investments.
Tencent Music’s got nearly 1 billion users and wants to IPO in NYC -- We think Spotify could learn from its karaoke app. Target’s fighting the retail-pocalypse by partnering with the companies disrupting it. And Microsoft is our sad story of the day after its lame mid-week event didn’t impress. Anyone.
Blue Apron can’t figure life out, dropping 5% after revealing a partnership with Grubhub that was universally disliked. Amazon’s upping the pressure on competition by increasing its minimum wage 25% to $15. And Apple added student IDs to Apple Wallet yesterday to get everyone under 22 committed to Apple
Clothing delivery site Stitch Fix has soared 76% this year -- But it’s still got one problem to fix. $100B GE used to be worth $600B and the CEO had no plan to get them back there. And the trade deal formerly known as NAFTA is now “USMCA” so we got everything you need to know about it.
After Tesla’s CEO got sued by the SEC, we were worried about the company and wished Elon had settled instead -- and at 8pm EST Saturday night he did. BlackBerry’s phone days are dead, but its new software biz is crushing life. And The Infatuation’s a food review website that just raised $30M because its future is the future of media.
80% of Americans use Stripe, the payment processor just raised $245M to reach a $20B valuation. Fast fashion icon H&M has $4.1B in unsold clothes, but it’s new store concept is saving the chain. And real estate disruptors Compass and Opendoor both just raised $400M… from the same venture capital firm.
The first day of trading for SurveyMonkey was awesome, but it shows the company left money on the table. The wedding industry is absurdly profitable and every couple uses The Knot (which just got bought). And DreamForce shut down San Francisco just like Salesforce software shuts down your brain
The stock may have dipped, but Nike’s earnings last quarter deserve a starting spot after the performances of their top sponsored athletes. Arby’s owner dropped $2.3B for drive-in Sonic because Millennials can’t kill fast food. And Instagram’s co-founders left Facebook on awkward terms, and there's 1 big takeaway for Zuck.
What companies didn’t get bought yesterday? The world’s biggest audio entertainment company is about to be created as SiriusXM buys Pandora for $3.5B. Michael Kors followed fashionably by acquiring Italian fashion house Versace for $2.4B. And a new Congressional bill hooks up fliers at the expense of airlines (no more lying about weather cancellations).
Makes no sense -- Stocks hit record highs last week even though the Trade War got way worse... so we looked into why. Airbnb sent an email to the SEC about changing a key rule so it can give you stock in itself without an IPO. And Comcast beat Fox and Disney in a crazy British auction to buy European media giant Sky in order to take on Netflix worldwide.