College News

Weekly News for College Entrepreneurs #2

Welcome to the 2nd week of our new college news section, for the week March 7 – March 13, 2019.

Remember, the headings are hyperlinks to the full articles.

College Admissions Scandal

The biggest story in the news this week. New York Times’ article best describes the elitist scheme to fake test scores and athletic achievements, in order to place average students in prestigious universities.

This means some of the credentials which signify the best educations in the world are being handed out to anyone who can afford them, regardless of their merit. Celebrities, administrators, and coaches all are involved.

To learn everything that college students should know about the scandal, read our full article.

Amazon Closing 87 Pop-Up Stores

Although Amazon said they’d be bringing us grocery stores it will be at the expense of their 87 pop- up stores, located in malls throughout the country. These stores primarily sell Amazon’s tech, like Kindles and Echoes, which can easily be bought online.

All 87 pop- up stores should be closed by the end of April, and we may get an Amazon grocery store by the end of 2019.

The Last Blockbuster.

The last  Blockbuster location in- business is in Bend, Oregon. Now people are making ‘nostalgic’ trips to visit it.

Even at this last stand-off location, diehard Blockbusters can not only rent movies, but sign up to create a new membership account. Surprisingly, some people are doing both.

Boeing…

Two plane crashes only 5 months apart (both in Boeing 737- MAX 8 aircraft) have now killed 346 people. The most recent crash happened with an Ethiopian plane. Immediately after takeoff, the plane crashed back to the ground, killing all 157 people (From 35 countries) on board.

It was exactly like the crash- after- takeoff that happened 5 months earlier, killing 189 people.

To say Boeing has a quality control issue seems like an understatement at this point. Agencies are formally- investigating the crashes now, and all Boeing 737- MAX 8, and MAX 9 planes are grounded in the U.S.

In response to all of this, Boeing also stopped delivery of new 737- MAX series aircraft.

Facebook Re-strategizing?

In a long essay, Mark Zuckerberg explained that people are gravitating toward communicating in smaller groups. Smaller than social media platforms currently allow for. He also explained how Facebook would work harder to keep data private.

“I believe the future of communication will increasingly shift to private, encrypted services where people can be confident what they say to each other stays secure and their messages and content won’t stick around forever.”

Mark Zuckerberg, Facebook

To not read Zuckerberg’s 3000+ word essay, but still get the point: Read this.

Airbnb Acquiring HotelTonight

Although the terms of the deal are not public, Airbnb bought HotelTonight, a last-minute hotel booking service. Airbnb explained that they ultimately want to control the travel experience “end- to- end.”

HotelTonight was last valued at $463 million. I guess that makes it just short of a half-unicorn. Except, unlike a lot of Unicorn companies, HotelTonight became profitable as of April 2016.

10 Years of a Bull Market

The bull market is officially running 10 years long as of Saturday. According to the CNN article on the matter, “bull markets aren’t like a carton of milk. They don’t have an expiration date. Stocks could keep climbing as long as earnings and the economy are growing.”

I suppose that’s true, but history says they’ll come down sooner or later.

Weak Jobs Growth

Jobs grew more slowly than expected in February—and more slowly than in previous months. Only 20,000 jobs added to the economy, while we expected 180,000.

The jobs report isn’t the best news, but year- over- year wage growth was the strongest in 10 years, at 3.4%.

Elizabeth Warren talks Economics

According to Senator (and 2020 Democratic Presidential candidate) Elizabeth Warren , we should break up tech giants. Namely, Amazon, Google, and Facebook. Warren says, “They’ve bulldozed competition, used our private information for profit, and tilted the playing field against everyone else.”

She supported her claims by stating the government’s duty to dispel “monopolies”.

The private information criticism is fair, but nonetheless, her propositions probably wont become reality.

FDA Commissioner Gottlieb Resigns

Tuesday, FDA Commissioner Gottlieb resigned from office, saying he needs to spend time with his family. Recently, the Commissioner was in the news for raising awareness about teen vaping and frequently going after Juul.

 

 

 

 

 

 

 

 

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