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Hello!
It's hard to find words to describe the past week.
I watched with horror as pro-Trump supporters stormed the US Capitol on Wednesday. Since then, videos like this one and stories like this one have made it clear that the siege on the Capitol may have been worse than it looked in real time.
There are growing calls for President Trump to resign, while Democrats could move on impeachment proceedings next week. A majority of Americans believe Trump should be removed before Joe Biden's inauguration, according to a new poll.
Meanwhile, Apple, Google, and Amazon Web Services have removed social-media network Parler from their platforms after Twitter and Facebook suspended Trump's accounts.
Below is a sampling of the latest news and commentary, a breakdown of how the business world has reacted, and an analysis of what Democratic control of both the House and Senate will mean for markets, real-estate, clean energy, and more.
Here's a breakdown of how the business world reacted.
And here's a breakdown of the impact of a Democratic sweep:
COVID vaccine loophole
Getty/David Greedy
From Kimberly Leonard:
Only a small subset of people in the US, including nursing home residents and healthcare workers, are eligible to receive the scarce coronavirus vaccine right now. Almost everyone else is supposed to wait their turn, which could be months away.
But there's a loophole, and you don't have to be a celebrity, a billionaire, or plot some devious trick to find it.
It turns out that on some days healthcare facilities across the US, including hospitals and pharmacies, find themselves with leftover vaccines that could be discarded if not used quickly. Sometimes healthcare workers don't show up for their vaccine appointments, or some nursing home residents turn down the shot, leaving facilities stranded with already thawed shots that have a short shelf life.
The choice then becomes to either toss them in the trash or offer the scarce shots - which right now are the best promise for digging the world out of the deadly pandemic - to whoever else can take them right away.
Read the full story here:
Also read:
Instagram's mysterious algorithm
Instagram/Samantha Lee/Business Insider
From Sydney Bradley:
Instagram has in recent months privately shared specific guidance with some creators about how frequently to post on the platform and what types of posts could help them boost their follower counts and engagement rates.
Three creators told Business Insider that they'd been contacted by Instagram in the past three months and had either met with a representative one on one or participated in a workshop where they were given such advice. They all said Instagram recommended a high volume of posts and that they use the entire suite of Instagram products: in-feed posts, Stories, Reels, and IGTV videos.
This guidance offered a rare glimpse by Instagram into how influencers can grow on the platform and into how its mysterious algorithm works. But it was made available only to certain creators behind closed doors. Instagram has not shared this advice publicly and declined to comment on any specifics.
Read the full story here:
Also read:
BONUS: Stock picks from the pros
The stock market continued its climb this week, even as pro-Trump insurrectionists violently stormed the Capitol. In fact, the Dow Jones Industrial Average closed at an all-time high on Wednesday, drawing a sharp contrast with events in Washington, DC.
Our investing team had plenty of recommendations from investment pros this week to help our subscribers make informed decisions. Here's a sampling:
Here are some headlines from the past two weeks that you might have missed.
- Matt
Google once stood for 'Don't be evil.' Insiders describe how it spiraled into a culture of mistrust that helped build a union aiming to keep management in check.
VCs predict that 'proptech,' a hybrid work model, and San Francisco's comeback are the tech trends to watch in 2021
Goldman Sachs' Sam Britton expects more 'dream deals' like Salesforce-Slack in 2021, and reveals the next hot M&A ideas
Amazon is quietly building a new Alexa device to help you sleep better
Biotech investor Brad Loncar shares 10 predictions for 2021, including a more than 30% drop for gene-editing stocks, a $3 billion acquisition by Vertex, and a new big threat to society
Inside Haven's downfall: How Jeff Bezos, Jamie Dimon, and Warren Buffett set their healthcare venture up for failure
A Rivian VP reveals the 5 key traits the Amazon-backed startup looks for in job candidates
The 8 digital health startups to watch that are changing healthcare in 2021
Inside JCPenney's messy 6-month bankruptcy saga: How infighting and egos almost destroyed the company's shot at coming out of bankruptcy alive
Elrond’s native token EGLD could be undervalued by as much as 212% - research ERD/USD price rose above the $0.02 mark for the first time since September The price moved from $0.0007 in October to trading at $0.0224 this week Elrond (ERD) price followed Bitcoin (BTC) price in racing higher to record a strong close of 2020 year. Fundamental analysis: Token “substantially undervalued” A recent research focused on Elrond, conducted by crypto research firm Picolo Research, showed that the network’s future largely depends on the rollout of Maiar, the first application to launch on Elrond. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. Elrond’s native token EGLD could be undervalued by as much as 212%. Piccolo utilized a set of different metrics to compare EGLD’s valuation with other smart contract networks and concluded that the token has a lot more space to grow. At the moment, EGLD is worth about $27, but its true value stands at around $68, according to Picolo. Furthermore, the research showed that the token has more upside compared to other tokens, largely because of the appealing APY that is offered for staking EGLD, which stands at
MedMen Enterprises Inc. ("MedMen” or the "Company”) (CSE: MMEN) (OTCQX: MMNFF), a leading cannabis retailer with operations across the U.S., today announced corporate updates related to retail licenses in California and Massachusetts. The Company currently has 25 retail stores that are in operation across California, Nevada, Illinois, Florida, New York and Arizona.
West Hollywood: On August 3, 2020, the City Council of West Hollywood ("City Council”) adopted an urgency ordinance to create a new "Legacy Cannabis Business License” which will permanently allow for both medical and adult-use sales of cannabis by MedMen West Hollywood and the three other pre-existing medical operators, bringing the collaborative efforts between the City of West Hollywood and other related parties to a final resolution. The Company had previously announced on October 28, 2019 that the City Council passed an ordinance to extend the Company’s temporary recreational license until January 1, 2021.
Boston: On August 6, 2020, the Massachusetts Cannabis Control Commission voted in favor of granting MedMen Boston, LLC, a subsidiary of the Company, a provisional adult-used license for its proposed flagship retail location near Fenway Park. A final license for this location is subject to meeting various conditions prior to opening, which is expected to occur in 2021.
"The positive licensing developments in West Hollywood and Boston are a result of the Company’s commitment to meaningful engagement with local regulators and the communities we are privileged to serve,” said MedMen Executive Chairman Ben Rose. "We continue forward momentum as we execute on our turnaround plan, strengthen our retail footprint and improve four-wall economics. Through our focus on retail, we have made significant progress in optimizing our business model and improving our presence as partners and neighbors in our locations as we expand the MedMen brand in existing and new markets across the U.S.”
ABOUT MEDMEN:
MedMen is North America’s leading cannabis retailer with flagship locations in Los Angeles, Las Vegas, Chicago, and New York. MedMen offers a robust selection of high-quality products, including MedMen-owned brands [statemade], LuxLyte, and MedMen Red through its premium retail stores, proprietary delivery service, as well as curbside and in-store pick up. MedMen Buds, an industry-first loyalty program, provides exclusive access to promotions, product drops and content. MedMen believes that a world where cannabis is legal and regulated is safer, healthier and happier. Learn more about MedMen and The MedMen Foundation at www.medmen.com
SOURCE: MedMen Enterprises
View source version on businesswire.com: https://www.businesswire.com/news/home/20200827005696/en/
