"Resurgence Of Electrification": Goldman Says EV Demand Gaining Momentum Amid Fuel Price Shock

Meta To Lay Off Hundreds Of Workers Today As AI Pivot Accelerates Meta Platforms is laying off a few hundred employees today as its workforce restructuring continues, following years of terrible metaverse bets and overhiring during the Covid era. Reports of another round of layoffs surfaced earlier this month, and just last week, Meta shut down Horizon Worlds, its virtual reality social network for Quest headsets. The Information reports that a few hundred employees will be let go today as part of the company's effort to reposition itself in the AI...

Netflix Sued By Texas For Allegedly Spying On Children Authored by Mary Prenon via The Epoch Times, Global video streaming service Netflix has been sued by the Texas attorney general’s office for allegedly collecting consumer data from children and adults without their knowledge or consent. In a May 11 statement, Texas Attorney General Ken Paxton accused Netflix of spying on consumers by intentionally tracking and logging their viewing habits, preferences, devices, household networks, and other sensitive behavioral data. The litigation claims that although the mega-entertainment platform purported to refrain from collecting or sharing...

Open Sesame Submitted By Peter Tchir of Academy Securities This week’s market behavior had a mythical, almost magical tone to it. In Arabian Nights, Ali Baba was able to open a cave of riches by uttering the phrase “Open Sesame.” Markets responded to any and every sort of connotation of “The Strait is Open” by rewarding participants with riches. We started this week bright and early, kicking off Bloomberg TV, and then moving on to Bloomberg Radio, and Tom Keene’s Best Ideas. At the time we were all trying to understand what “Blockade” meant....