Welcome back to weekly news on Thursdays. First up: a poll of 1,000 millennials, of which 80% say they want their partner to talk about their investment strategy on the first date.
Don’t forget: the headings are links!
The most prominent weekly news: Friday, Special Counsel Robert Mueller handed in the final report of the investigations into Trump-Russia collusion. No further indictments were made after the investigation spanning 2 years.
“The nearly two-year investigation ended without the special counsel recommending that President Trump, or any of his family members, be charged with conspiracy or obstruction of justice.”
-Matt Stieb, Intelligencer
Although we know the above, we still don’t know how much of the actual report will eventually become public.
Monday, New Jersey was supposed to be voting on the legalization of recreational marijuana in their state for people age 21 and above. The vote was canceled though, and lawmakers said they do not yet have enough support in the NJ state senate to get the bill to pass.
Once the vote was called off, the NJ Senate President, Stephen Sweeney, addressed the press saying “The legalization of adult-use marijuana will get passed in the state of New Jersey, one way or another.” He went on, stating that the vote will be rescheduled “As soon as [he has] 21 votes.”
Most Apple fans thought that Apple’s March 25 event would reveal a direct competitor to Netflix and other video streaming services. The Apple fans kind of got that. And by kind of, I mean not really.
Instead of Apple vs. Netflix, its Apple + All of Netflix’s competitors – Netflix … make sense?
Apple is basically reselling other streaming services in its own package. In return for access to their market, Apple charges the streaming services a slice of the profit. Netflix, unlike other services, is not part of the deal.
Even though there’s no direct Apple vs Netflix battle, other predictions about the event turned out to be true. Apple original content is confirmed, and Apple News is confirmed.
Indonesia’s national airline wants to cancel an order of 49 Boeing 737 MAX series airliners in the wake of the model’s failures and grounding. The deal is worth an estimated $4.9 billion to Boeing, but to Garuda Indonesia, it’s no longer worth anything.
“Continuing the Max order does not benefit Garuda. Our passengers, psychologically, they don’t trust flying with Max anymore. They often asked during booking what type of aircraft they would be flying on.”
-Ikhsan Rosan, Garuda Indonesia
The whole thing is going badly for Boeing. Their stock has declined, and it looks like they might be out of this $4.9B.
Something is just out-of-whack with air travel recently, because the industry has made it in almost every weekly news to date. This week, a British Airways flight “bound for Germany” actually went to Scotland.
A passenger on the flight recounted it like this:
“When we landed there was a bit of a hilarious moment when the flight attendant asked for a show of hands for the people going to Dusseldorf, which turned out to be everyone.”
Ultimately, the plane refueled and flew the passengers (or re-flew) to their intended destination.
Pinterest filed to go public, and plans to trade under the ticker “PINS” on the NYSE. It is among many tech companies (Like Lyft and Uber) going public right now in 2019.
Like many of these companies, Pinterest is not yet profitable and stated a net loss of $63 M on revenues of $756 M. Nonetheless, Pinterest is growing and gaining popularity—Its revenues increased 60% since 2017.
Those are nicer than Michael Avenatti’s actual words to Nike.
On Monday, authorities arrested Avenatti in New York City, and charged him with extortion. Avenatti allegedly threatened to publicize information that he thought would “take $10 billion off of” Nike’s market cap, unless Nike paid the millions he demanded.
Mostly known for being Stormy Daniel’s lawyer in the past, Avenatti is now adding extortion, embezzling, and defrauding to his claims-to-fame.
India blew up one of its own satellites Wednesday, which I learned is something that countries do just to prove that they can. The achievement puts India among the ranks of China, Russia, and the USA in terms of galactic destructive power.
Interestingly, experts are more concerned about the debris (space junk) that the event created than the destructive power that created it.
“We all live in space, let’s not make it a mess. Space should be a place where we can conduct business. Space is a place where people should have the freedom to operate.
– US Military Southern Command
The statement “space should be a place we can conduct business” might give you an idea of how fast we’re closing in on that frontier.