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Business

“Tech elites hate the media. So they’re taking a page from Fox News.”

“…Still, as mistrust in traditional media remains high and readers flock to more identity-focused brands, these projects will likely only gain traction and play an increasingly important role in shaping how the tech industry sees itself and perceives its enemies…”… Continue Reading…

Economy, Predictions, Opinions, & Comments, Stocks

Now They’re Scared: “The Fed warns of social media ‘echo chambers’ that pump up meme stocks.”

“…“To date, the broad financial stability implications of changes in retail equity investor characteristics and behaviors have been limited,” the Fed said. The central bank specifically assessed what happened to shares of AMC Entertainment and GameStop in January, noting that activity and… Continue Reading…

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Business

“TikTok, ByteDance sue to block US law seeking sale or ban of app”

“TikTok and its Chinese parent company ByteDance sued in U.S. federal court on Tuesday seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or… Continue Reading…

Business, Stocks

“Trump Media is up 92% since launching a crusade against short sellers”

“…The parent company of Donald Trump’s Truth Social released a press release on Monday, explaining to its retail investor base how to recall shares from short-sellers. “TMTG wants to clarify that if shares are currently on loan by brokerage firms to facilitate… Continue Reading…

Stocks

“DJT shares close down more than 9% as Trump Media hot streak stalls”

“Trump Media shares dropped sharply Wednesday, closing down by more than 9.5%. Trump Media, which trades under the DJT ticker, closed at $45.16 per share, a loss of $4.77 per share. The company, which owns the Truth Social app, is still trading well below the… Continue Reading…

Stocks

“Reddit prices IPO at $34 per share in first major social media offering since 2019”

“Reddit, the 19-year-old website that hosts millions of online forums, priced its IPO on Wednesday at $34 a share, the top of the expected range. The offering brought in $519 million, according to a press release, and values the company at… Continue Reading…

Business

“Disney and Reliance to merge media businesses in India in $8.5 billion joint venture”

“Walt Disney and Indian conglomerate Reliance will merge their Indian businesses, the U.S. entertainment giant announced Wednesday. The companies will be combining their respective Star India and Viacom18 units into the newly created Star India joint venture, valued at roughly $8.5 billion… Continue Reading…

Business

“Taylor Swift’s label UMG to pull music from TikTok, accusing the social media app of bullying”

“Universal Music Group said Wednesday it will cease licensing its music to TikTok and accused the short-form video giant of bullying and intimidation in its contract negotiations. A music licensing agreement between UMG and TikTok, which is owned by Chinese tech… Continue Reading…

Business

Mainstream News Media Is Bleeding Cash

“Chaos, Fury Engulf Los Angeles Times in Historic Cuts to Newsroom” “…Barely 24 hours after billionaire owner Patrick Soon-Shiong imposed more than 115 job cuts, reducing about 20% of the newsroom, staffers arriving at the paper’s offices in El Segundo… Continue Reading…