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☆ Meme Stock Craze: the Sad Return of Roaring Kitty, GameStop, and AMC
▼ + stars: | 2024-05-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +5 min

Gill, who goes by Roaring Kitty on X and YouTube and by DeepFuckingValue on Reddit, was at the center of the 2021 GameStop saga. Shares of AMC, GameStop's fellow meme stock, surged by nearly 80% on Monday and 30% on Tuesday. What's changed is Roaring Kitty is tweeting, and not even really about a company. If you bought GameStop or AMC shares in 2021, it might not be a bad time to consider selling some to break even. Roaring Kitty is back, and people are tossing their money into the GameStop slot machine.

Persons: Keith Gill, Gill, Roaring Kitty, DeepFuckingValue, Davids, — Gill, tweeting, hasn't, me Gill, they're, it's, Robinhood, Bitcoin, Matt Damon, Eminem, Peter Kafka, cryptocurrency, Kitty Organizations: GameStop, YouTube, Porsche, AMC, UFC Locations: Massachusetts, What's, America

☆ Heads-up, Apple and the rest of Big Tech: Disney wants better app store deals.
▼ + stars: | 2024-05-16 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Speaking at an investor conference this week, Iger said he's giving up too much money to the Big Tech app stores that distribute Disney-owned streamers like Hulu and Disney+. "Unlike Netflix, we distribute largely through third-party app stores. App stores and app distribution are a meaningful part of many tech companies' business plans. It's also possible that Disney won't need to leave third-party app stores — or threaten to leave — in order to save money. Maybe one of them will include a way to take a bit less from one of the world's biggest video companies.

Persons: Bob Iger, Iger, Michael Nathanson, I've, It's Organizations: Disney, Apple, Google, Big Tech, Hulu, Business, Netflix, signups

☆ Why you don't really want Big TV to bring back 'the bundle' for your streaming services like Hulu, Max, and Netflix
▼ + stars: | 2024-05-15 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

— pine for the good ol' days of the TV bundle. Like cable TV." The old-timey bundle was also a prerequisite for some things you might want, like HBO or Showtime. And now, let's talk about the new-fangled bundle, which isn't the bundle you're thinking of. They're going to find ways to cut costs wherever they can, and that most certainly includes programming.

Persons: I'm, Discovery, Max, Rupert Murdoch's, They're, Brian Roberts Organizations: Service, Business, Big Media, Disney, Warner Bros, Comcast, Netflix, Apple, Big TV, ESPN, TCM, Fox News, HBO, Showtime, Warner, Discovery Locations: Hulu

☆ Netflix inks a 3-year deal with the NFL to show football games
▼ + stars: | 2024-05-15 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Netflix announced a three-season deal with the NFL. The streamer will show two NFL games on Christmas this year. AdvertisementNo more wondering if Netflix is going to show real live sports: The streamer now has a three-season deal with the most popular sports league in America — the NFL. Netflix will show two NFL games on Christmas Day this year, plus "at least one" game on Christmas in 2025 and 2026, the company and the NFL announced Wednesday. The deal will cost Netflix "less than $150 million per game," Bloomberg reports.

Persons: — Organizations: Netflix, NFL, Service, America —, Bloomberg, Business Locations: America

☆ An AI agent may soon be at your beck and call, but it might cost you a bit of your privacy
▼ + stars: | 2024-05-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at Google's big event that's pitching all the ways AI agents can make our lives easier . Google I/O, the tech giant's biggest developer conference, was heavy on the rise of so-called AI agents , writes Business Insider's Hugh Langley, who was there in person. AdvertisementGoogle's faithful, old search engine got a noticeable facelift with the help of AI , writes BI's Geoff Weiss. Steven Puetzer/Getty, Tyler Le/BIThe stakes for Google are high, as nailing AI agents opens up a massive business opportunity. For AI agents to be so intuitive, they'll need access to seemingly every aspect of our lives.

Persons: —, Tyler Le, you've, OpenAI's ChatGPT, Hugh Langley, Sundar Pichai, Geoff Weiss, Hugh, Alistair Barr, Gregory Wayne, Steven Puetzer, hasn't, Alistair, Demis Hassabis, Minchillo, Keith Gill, Naz Vahid, Andy Sieg's, Noah Berger, Jia Feng, Tingting Ji, Jenny Chang, Rodriguez, BI's Peter Kafka, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Google, Astra, GameStop, AMC Entertainment, JPMorgan, Citi, Amazon Web Services, Walmart, UPS, Nielsen, Cisco Systems, Warner Bros, Discovery Locations: New York, Dublin, London

☆ Why the Big TV companies aren't 100% completely screwed. Yet.
▼ + stars: | 2024-05-14 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Big TV used to have a monopoly on our attention — and our wallets. This mirrors the pitch big TV companies are making this week in New York to advertisers. AdvertisementThe Big TV guys are screwed, right? AdvertisementAnd here to make that argument is Nielsen, which has a new way of tracking attention among media companies — including digital upstarts. And in this version, the TV guys are still sticking around.

Persons: aren't, —, They're, Nielsen, It's, it's Organizations: Service, NFL, Business, Netflix, Disney, ABC, ESPN, Hulu, Paramount, CBS, NBC Universal, YouTube, Nielsen Locations: New York

☆ Apple desperately needs its Next Big Thing
▼ + stars: | 2024-05-14 | by ( Paris Marx | ) www.businessinsider.com time to read: +10 min

But after a decade of doing that, iPhone sales are slowing, revenue is down, and the company, again, needs to find its next big thing. Apple's own outlook suggests poor iPhone sales will persist, especially as sales in China rapidly decline. The drawbacks of Cook's divestment from product design and development are now becoming clearer. Both the EU and the US cases would also make some people more likely to switch to a cheaper phone, which would threaten iPhone sales even further. The drawbacks of Cook's divestment from product design and development are now becoming clearer.

Persons: Steve Jobs, Jobs, Apple, Tim Cook, Cook, haven't, Steve, Tripp Mickle, Jony Ive, we've, wouldn't, Let's, aren't, Peter Kafka Organizations: Apple, Apple Watch, IBM, Google, EU, Bloomberg, Nasdaq, Business Locations: China, Asia, India, Indonesia

☆ Crypto prices are back. So are the TV ads.
▼ + stars: | 2024-05-13 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Read previewOne sign we're in a crypto revival: Crypto prices are roaring again. Another sign: Crypto companies are advertising on TV again. Crypto.com isn't the only one pushing crypto on TV again. It makes perfect sense to run it side-by-side with ads telling you how fun it would be to bet on the very game you're watching (unless you're an NBA player). All that said, the 2024 crypto revival still seems more like an echo of the last boom than a replay.

Persons: —, you've, it's, Eminem, Matt Damon, Damon, Crypto.com, Coinbase cheekily, Crypto, Jack Dorsey, Kitty Organizations: Service, NBA, Business, UFC, GameStop

☆ Netflix said it didn't want to be in sports. Now it could be streaming two NFL games on Christmas.
▼ + stars: | 2024-05-10 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Now Netflix looks like it is close to a deal to stream two NFL games on Christmas Day, reports Puck's John Ourand, citing "a bevy of sources." Does that mean Netflix doesn't know how much it will pay for the games? The NFL declined to comment; Netflix didn't respond to a request for comment. If the deal does happen, it will be easy to step back and see how Netflix got there. The NFL now plans on releasing details about its upcoming schedule on May 15 — which also happens to be the day Netflix will host its "upfront" event in New York, catered to advertisers.

Persons: —, Puck's John Ourand, they'd Organizations: Service, Netflix, Business, NFL Locations: America, New York

☆ Jack Dorsey Explains Why He Left Bluesky
▼ + stars: | 2024-05-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Twitter cofounder Jack Dorsey helped found Bluesky as a Twitter alternative. But Dorsey says he left Bluesky because it was "literally repeating all the mistakes" Twitter made. AdvertisementWhy did Twitter cofounder Jack Dorsey leave Bluesky, the Twitter alternative he helped create? Because — in Dorsey's telling, at least — Bluesky was "literally repeating all the mistakes [Twitter] made as a company." And later on, when Dorsey got frustrated while running the for-profit version of Twitter, he imagined that Twitter could help start an independent, open-source protocol version of itself — Bluesky.

Persons: Jack Dorsey, Dorsey, —, Bluesky, Mike Solana Organizations: Twitter, Service Locations: Dorsey's

☆ Why a failed video game cost Warner Bros. $200 million
▼ + stars: | 2024-05-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Discovery reported a $200 million loss on the game "Suicide Squad: Kill the Justice League." It's a reminder of how similar the video-game business is to Hollywood: big expenses, big rewards, big penalties for missing. AdvertisementDid you play "Suicide Squad: Kill the Justice League," the video game that came out in February? Discovery, which released the game, is that very few people did, and the ones who did really didn't like it. And that led the company to take a staggering $200 million loss on the game, which it disclosed in its first-quarter earnings on Thursday.

Persons: — Organizations: Warner Bros, Discovery, Justice League, Big, Service, Business Locations: Hollywood

☆ Why a failed video game cost Warner Brothers $200 million
▼ + stars: | 2024-05-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Discovery reported a $200 million loss on the game "Suicide Squad: Kill the Justice League." It's a reminder of how similar the video game business is to Hollywood: big expenses, big rewards, big penalties for missing. AdvertisementDid you play "Suicide Squad: Kill the Justice League," the video game that came out in February? Discovery, which released the game, is that very few people did, and the ones who did really didn't like it. And that led the company to take a staggering $200 million loss on the game, which it disclosed in its first-quarter earnings Thursday.

Persons: — Organizations: Warner Bros, Discovery, Justice League, Big, Service, Business Locations: Hollywood

☆ No, seriously. Where are the TikTok buyers?
▼ + stars: | 2024-05-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Former Google CEO Eric Schmidt has decided against buying TikTok. That leaves a really tiny list of people who say they want to buy TikTok. AdvertisementWho's going to buy TikTok? [Crickets]Yes, if you Google "potential TikTok buyers" you'll find a bunch of stories — Business Insider has written one, too — speculating about names. They list Mnuchin as well as Shark Tank host Kevin O'Leary, who also likes to go on TV and talk about buying TikTok.

Persons: Eric Schmidt, —, Steve Mnuchin, ByteDance, Kevin O'Leary, Bobby Kotick, OpenAI's Sam Altman, we've, Trump Organizations: Google, Service, Treasury, TV, Street Journal, Activision, Oracle, Walmart, Microsoft, Big Tech, McKinsey, TikTok

☆ Whoops! I just (accidentally) screwed Jeff Bezos out of $130.
▼ + stars: | 2024-05-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

I wanted to subscribe to The Washington Post, owned by Jeff Bezos, for $12 every 4 weeks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And I definitely wasn't trying to get one over on The Washington Post. But that's just what happened: I tried to pay the Post, owned by the second-richest man in the world, $156 a year. This story is available exclusively to Business Insider subscribers.

Persons: Jeff Bezos, —, Jeff Bezos's Organizations: Washington Post, Service, The Washington, Verizon, Hulu, Netflix, Spotify, Business

☆ Apple wants to give the iPad a boost
▼ + stars: | 2024-05-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The tech giant's event will reportedly showcase a new family of… iPads and iPad accessories. But Apple's event , which kicks off at 10 a.m. EST, is looking to give the iPad a boost. iPhone sales have noticeably dipped, which is why you're hearing Apple tout its "services" business , writes BI's Peter Kafka. And the new product Apple wants you to be excited about — the Vision Pro — hasn't lived up to the hype. a16z joins the Big Tech "fake work" debate.

Persons: —, Tyler Le, they're, iPads, Antonio Villas, Boas, BI's Peter Kafka, Peter, hasn't, Katie Notopoulos, Wall, Lauren DeCicca, Tim Cook, Katie, aren't, I'd, we'll, I'm, Alyssa Powell, Danielle DiMartino Booth, James Devaney, Roger Kisby, Jack Dorsey's, Elon, Dorsey, Elon Musk, Satya Nadella, OpenAI, Jeff Bezos, Mark Zuckerberg, Warren Buffett, Berkshire Hathaway, a16z, Emily Sundberg, Andreessen Horowitz, David Ulevitch, Vladimir Putin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Apple, Google, Getty, US Treasury, National Bureau of Economic Research, Images, Penske Media, Microsoft, Tech, Paramount, Berkshire, Big Tech, Walt Disney Company Locations: BREIT, New York, London

☆ Why Warren Buffett's Paramount bet may have cost him $1.5 billion
▼ + stars: | 2024-05-06 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Famed investor Warren Buffett's Berkshire Hathaway placed a $2.7 billion bet on Paramount in 2022. But when someone who's worth an estimated $132 billion says "quite a bit of money," it's probably a very big amount. The math: In 2022, Berkshire accumulated 91 million shares of Paramount B shares; Barron's estimates he paid "more than $30" per share. AdvertisementThat left Berkshire with another 63.3 million Paramount shares at the beginning of 2024, and sometime between then and Saturday they have sold off the rest. Add all that up, and it looks like Berkshire sold its Paramount stake for $1.2 billion after paying $2.7 billion for it — a $1.5 billion loss.

Persons: Warren Buffett's Berkshire Hathaway, hasn't, — Buffett, —, Warren Buffett, Berkshire Hathaway, Buffett, we've, Berkshire Hathaway hasn't, Berkshire Organizations: Paramount, Service, Sony, Apollo, Berkshire, Bloomberg Locations: Berkshire

☆ Why Apple's ad business isn't what you think it is
▼ + stars: | 2024-05-06 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Apple's definition of "services" includes advertising, which Apple routinely says is a major driver of its services growth. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But as we've pointed out many times, iPhone sales won't grow forever. Which is why, for the last several years, Apple has been taking pains to highlight its growing "services" business. "Services," per Apple's description, is a fast-growing grab-bag of stuff, all of which doesn't directly involve Apple hardware: money Apple makes from App Store sales; money Apple makes selling warranties and cloud storage; and money Apple makes selling you music and TV subscription services.

Persons: —, doesn't Organizations: Apple, Service, Business

☆ Elon Musk wants to use AI to summarize the news on Twitter and ... it's not a terrible idea?
▼ + stars: | 2024-05-03 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

Elon Musk wants to combine Twitter and Grok, his AI engine, and create a news machine. Elon Musk thinks news is something different: It's what people talk about on the service formerly known as Twitter. Musk said Grok will not look directly at article text, and will instead rely solely on social posts. Definitely not in the Elon Musk era of the company formerly known as Twitter. The to-be-sures: Yes, you'd be foolish to rely on an Elon Musk-run AI machine for factual information.

Persons: Elon Musk, Grok, —, Alex Kantrowitz, Musk, Igor Babuschkin, xAI, CNN —, it's, you'd, Ben, Elon Musk's, It's Organizations: Twitter, Service, Elon, CNN, Google Locations: London

☆ We're entering advertising's new era
▼ + stars: | 2024-05-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at the biggest topic at this year's TV upfronts , and how it's a sign of advertising's new era. What's on deck:Markets: Morgan Stanley's new wealth boss outlines the bank's playbook for hitting $10 trillion in client assets. Andy Kiersz/Business InsiderYou might be wondering what retail data has to do with television advertising.

Persons: —, Morgan, Don Draper's, Burton, Jenny Chang, Rodriguez, Business Insider's Lara O'Reilly, Lucia Moses, Andy Kiersz, Andy Jassy, hasn't, Finn, Morgan Stanley, Michael M, Tyler Le, Jed Finn, Andy Saperstein, there's, Joseph Stiglitz, Jerome Powell, Justin Sullivan, Wells Fargo, Kevin Scott, Satya Nadella, Bill Gates, Pablo Declan, Shari Redstone's, tanked, BI's Peter Kafka, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Tech, Wall, Getty, Google, Amazon, Disney, Kroger, Walmart, Big Tech, US Department of Labor, Apple, Department, Paramount, Trump Media Locations: China, OpenAI, New York, London

☆ Apple can't tell you iPhone sales are booming, so it's talking about 'services.' That's a problem.
▼ + stars: | 2024-05-02 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

It didn't boast about iPhone sales, which declined. AdvertisementApple had a great second quarter, Apple says: The company hit an "all-time revenue record in Services," the company reports. And if you head over to the company's financials, you can see why: iPhone sales dropped by 10% in the last three months. Prior to Thursday's earnings, analysts had fretted that Chinese iPhone sales were soft, but on Thursday afternoon, Cook told CNBC that iPhone sales in China were up. AdvertisementAnd, as we've been pointing out repeatedly, Apple's App Store rules are under increasing pressure from regulators around the world — and in the EU in particular.

Persons: —, Cook, I've, it's Organizations: Apple, Service, CNBC, Google, US Department Locations: China, EU

☆ We're reading: Here's a helpful hint for people starting a media company in 2024
▼ + stars: | 2024-05-02 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Hunterbrook Media is a hedge fund that also does journalism. Or maybe a journalism startup that also runs a hedge fund. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementCan a hedge fund also be an investigative journalism outfit? Then the journalists tell Hunterbrook's hedge fund arm about the stories they will publish about the company, so the fund can short the company (or invest in it).

Persons: — Organizations: Hunterbrook, Service, Hunterbrook Media, Business

☆ Trump Media shares collapsed, rallied, and are collapsing again. No one knows why.
▼ + stars: | 2024-05-01 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Donald Trump's social media stock collapsed a month ago, and people were happy to tell you why. AdvertisementRemember when Trump Media & Technology Group Corp, the company that operates Truth Social, Donald Trump's social network, turned into a publicly traded stock? AdvertisementSo how do we explain that over the course of the past two weeks, Trump Media shares had doubled again? Here is the reason that Trump shares collapse, or rally, or collapse again: There is no underlying reason. So go ahead and bet on, or against Trump Media — on any given day, you could be right?

Persons: Donald Trump's, —, Trump, Donald Trump, you'd, Jon Stewart Organizations: Trump Media, Service, Trump Media & Technology Group Corp, Truth, CNBC, Trump, GameStop, AMC, Knicks, Sixers, Trump Media — Locations: Bath

☆ Radio isn't dead. Yet. Thank, or blame, your car.
▼ + stars: | 2024-04-30 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Just like TV, radio is a pre-internet medium. For people listening to free, ad-supported audio, radio remains dominant, according to Nielsen. But the younger you get, the less likely you are to listen to radio, even compared to other free options. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . At least not according to a new survey from Nielsen, which argues that lots of people still listen to radio.

Persons: —, Nielsen Organizations: Nielsen, Service, Business

☆ TikTok's time in the US could soon be on the clock, and that's not the app's only problem
▼ + stars: | 2024-04-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

The big storyTick-tock on TikTokChelsea Jia Feng/BITikTok's time in the US could soon be on the clock. When it's all said and done, a TikTok ban could be in place before the week's end. Business Insider's Peter Kafka explains why the TikTok ban, while more imminent than ever, still has a long way to go . A TikTok ban would benefit one familiar face in social media, though, writes BI's Katie Notopoulos . YouTube Shorts, too, stand to grab more attention after a TikTok ban.

Persons: —, Caitlin Clark's, Chelsea Jia Feng, ByteDance, Joe Biden, it's, Business Insider's Peter Kafka, Michael Beckerman, TikTok, hawking, BI's Lindsay Dodgson, outperforming, Katie Notopoulos, Merrill Lynch, Tyler Le, Andy Sieg's, Merrill, Lindsay Hans, Eric Schimpf, It's, Steve Cohen's, Grzegorz Wajda, Hokyoung Kim, Nordstrom, Tesla, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Nike, Bloomberg Intelligence, YouTube, Big Tech, New York Stock Exchange, NYSE, Chelsea, Getty, Walmart, BI, Costco, Amazon, Motors, Spotify Locations: Americas, TikTok, Merrill, China, American, New York, London

☆ DJT SPAC: Trump Media Stock Price Collapse Is Only Going to Get Worse
▼ + stars: | 2024-04-22 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

Trump Media & Technology Group, which owns the conservative Twitter clone Truth Social, went public via SPAC in late March. Short sellers, if I had to guess, feel pretty good, even if Trump's company is trying to prevent them from betting against it. AdvertisementWhile Trump is a political figure, Trump Media's stock price is not really a political story. The same day, its stock price fell by 14%, though the next day it bounced. That TMTG's stock price has fallen isn't surprising.

Persons: I'm, Jim Cramer, Donald Trump's, Trump, DJT, it's, TMTG, isn't —, Peter Kafka, doesn't, TMTG isn't, Devin Nunes —, Devin Nunes, California —, He's, It's, Emily Stewart Organizations: Trump Media & Technology Group, Twitter, Republican, Nvidia, Truth, Meta, Trump, Trump Media & Technology, Business Locations: SPAC, TMTG, California

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