You have arrived at Friday, readers. Today we discuss the potential Yahoo-ification of Facebook and give you a look at BMW’s new electric sedan.
Let’s dive into it.
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1. Could Facebook be the next Yahoo? Facebook’s recent move to the metaverse is meant to give it “a new chapter,” as CEO Mark Zuckerberg put it. But insiders and investors fear the change could be an identity crisis that the social media company will not recover from.
- Once the largest Internet company, Yahoo was defeated by rivals and emerging technologies. Now, with a worthy competitor to TikTok and privacy changes disrupting its business, Facebook is betting on the metaverse — and investors aren’t sure it will succeed.
- Current and former employees also told Insider they fear the new bet will lead to a better business, and those making money at the company are confused about where it’s headed since it was renamed. Meta.
- “Put simply, the market is wondering if this company is now Yahoo! 3.0,” one analyst said.
Here’s what else insiders told us.
In other news:
2. CNN’s new streaming service is shutting down just weeks after launch. After a stellar multi-million dollar debut last month, CNN+ will shut down
April 30. Get the full recap here.
3. Amazon’s physical store ambitions are in trouble. While Amazon has perfected e-commerce, it faces a tougher reality with brick-and-mortar stores, driven by high costs, a dysfunctional culture and tensions with Whole Foods – and some employees wonder if it will ever excel. in offline shopping. Inside Amazon’s restless brick-and-mortar plans.
4. ICYMI: Elon Musk says he got the funding to buy Twitter. In a regulatory filing released Thursday, the CEO of Tesla and SpaceX said it had deals with banks and other entities totaling $46.5 billion for a takeover of Twitter. What we know so far.
5. Eat Just has cut its revenue forecast by around 50% for 2021. According to a leaked presentation to investors, sales at the alternative protein startup (formerly known as Hampton Creek) were hampered by production issues and slow restaurant sales early last year. A look at the struggles of Eat Just.
6. Meta COO Sheryl Sandberg allegedly pressured a newspaper to drop reporting on her ex. The Wall Street Journal reported that Sandberg urged British tabloid Daily Mail to drop reports involving her former boyfriend, Activision CEO Bobby Kotick. Here is the latest.
7. A travel influencer shares how she made $1 million since 2020. Catarina Mello, a former Google employee, makes 80% of her income from an online course she sells on being an influencer. Here’s how she made it work.
8. Russia has just sanctioned Mark Zuckerberg. Meta CEO, LinkedIn CEO Ryan Roslansky and 27 other Americans have been banned indefinitely from entering the country. We explain what the penalty means.
9. We took a look at BMW’s new electric luxury sedan. The automaker just unveiled the i7 – the electric version of its flagship 7-Series sedan – and it comes with a 31-inch fold-out TV,
, and more than 500 horsepower. Discover the BMW i7 here.
10. A Tesla embarks on a 9,380 mile journey around the perimeter of Australia. A group of scientists plan to use printed solar panels to power the Tesla Model 3 as it travels across the country this fall. Learn more about the project, Charge Around Australia.
The latest movements of people in technology:
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