What I read this week.
Here are a few things I found interesting this week on the web.
How Television Advertising Lost Its Relevance - As streaming platforms struggle to replicate the massive reach of traditional TV, advertisers like Mondelez and Hershey are shifting budgets away from TV ads. High costs and fragmented audiences on platforms like Netflix hinder their effectiveness. Instead, brands are turning to social media and retail media, capitalizing on platforms like TikTok and Amazon for targeted ad campaigns. With live sports remaining the last stronghold of TV viewership, the future of TV advertising looks uncertain.
GameStop, AMC soar more than 70% each as ‘Roaring Kitty’ meme trader resurfaces - GameStop and AMC shares surged dramatically after "Roaring Kitty" (Keith Gill) posted online for the first time in nearly three years. His post sparked a trading frenzy, with GameStop rising 74.4% and AMC up 78.4%. Gill, known for driving the 2021 meme stock craze, has reignited interest in these stocks, leading to significant market volatility and renewed discussions on platforms like Reddit’s WallStreetBets. Despite recent gains, GameStop's fundamentals remain weak, with declining revenue and job cuts.
2023 Annual Letter CHAMATH PALIHAPITIYA -In the sixth annual letter from Social Capital, founder Chamath Palihapitiya reflects on the economic and technological trends of 2023. Despite a challenging environment with rising interest rates and banking crises, AI advancements have reshaped company-building processes, reducing barriers and enabling rapid innovation. Key investments highlight opportunities in space, clean energy, and battery technology. Palihapitiya also emphasizes the importance of adapting to new paradigms and leveraging proprietary data and infrastructure in the evolving landscape.
How the ‘Harvard of Trading’ Ruined Thousands of Young People’s Lives - Patrice Rechards, a 26-year-old from Amsterdam, discovered her higher purpose through IM Academy, a financial education platform. The platform, which promises to teach trading options, crypto, stocks, and foreign currencies, grew rapidly during the pandemic by targeting teens and young adults. Led by CEO Chris Terry, IM uses a multilevel marketing structure to recruit members, promising financial freedom. Despite rapid growth, the company faces scrutiny and criticism for its aggressive recruitment tactics and the financial losses suffered by many members.
Are home prices still rising?- See how prices have changed in your area. 📈
Other things to check out:
Things to stream
Books
Snow Crash by Neal Stephenson
No Filter: The Inside Story of Instagram by Sarah Frier
Drunk: How We Sipped, Danced, and Stumbled Our Way to Civilization by Edward Slingerland
Found on X…
Insta…
