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☆ A tale of 2 tech giants: Struggling Meta is pulling back on offices in LA and NYC to cut costs, while TikTok is expanding
▼ + stars: | 2022-12-02 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +3 min

TikTok is seeking 150,000 square feet in Los Angeles to more than double its footprint in the city. One of the leasing executives who spoke with Insider said TikTok had considered spaces from "Santa Monica to downtown" Los Angeles. Meta, meanwhile, has 260,000 square feet in Los Angeles at the Brickyard, a recently built office complex in Playa Vista. The diverging appetite for office space between TikTok and Meta underscores a change in fortune for both firms. A spokeswoman for Meta said the company would not comment on its LA offices or its plans for them.

☆ U.S. shoppers to spend less this holiday season, but Amazon still stands to gain, Goldman Sachs says
▼ + stars: | 2022-11-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Amid mounting economic uncertainty this holiday season, nearly three-quarters of U.S. shoppers plan to spend less than or the same as last year, according to a new Goldman Sachs consumer survey. And Club holding Amazon (AMZN), a leading retailer for holiday sales and promotions, should be a top destination for American bargain-hunters. Goldman Sachs polled 1,000 U.S. consumers to gauge spending trends for holiday shopping this year. Nonetheless, Amazon maintains "the largest share of implied holiday purchasing with 33% of consumers planning to spend the most at Amazon," followed by Walmart. Bottom line We agree with Goldman's analysis that Amazon is one of the best-positioned players in the discount retail space to benefit from this year's holiday shopping.

☆ I got my big break as a Lionsgate screenwriter after I moved 2,000 miles from Hollywood. Here's how I made connections and worked my way up from security guard to my dream career.
▼ + stars: | 2022-11-17 | by ( Ken Miyamoto | ) www.businessinsider.com time to read: +14 min

Ken Miyamoto was a security guard at Sony, and worked his way up to story analyst for the studio. In 1996, I took one University of Wisconsin screenwriting class, and that was the extent of my screenwriting education. I moved to California from Wisconsin with my wife in late 1999 to pursue a career in screenwriting. The apartment was way overpriced and much smaller than others we looked at, but we signed the lease that day. Lastly, don't write for free.

☆ Unicorn indie-film studio A24 is in talks to buy the Cherry Lane Theatre, New York's oldest off-Broadway theater
▼ + stars: | 2022-11-02 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +3 min

The Cherry Lane Theatre was put back on the market in 2021 after a previous sale fell through. The purchase comes as Hollywood increasingly looks to the theater world for IP and talent. A24, the Oscar-winning studio behind indie hits like "Uncut Gems," "Midsommar," and "Moonlight," is in talks to buy the Cherry Lane Theatre, New York City's oldest continuously running off-Broadway theater, according to a person familiar with the matter. The Cherry Lane was put back on the market in November 2021 after a deal to buy the theater for $11 million fell through amid disagreements over the price. Representatives from the Cherry Lane Theatre and A24 declined to comment on any prospective sale.

☆ 'Superfly' actor Kaalan Walker sentenced to 50 years in prison for sexual assault
▼ + stars: | 2022-10-18 | by ( Julianne Mcshane | ) www.nbcnews.com time to read: +1 min

Actor and rapper Kaalan Walker has been sentenced to 50 years to life for sexual assault. Walker, 27, appeared in the 2018 remake of the 1970s film "Superfly" and starred alongside Halle Berry and Daniel Craig in the 2017 drama "Kings." Kaalan Walker attends a screening of "Superfly" in Culver City, Calif., on June 10, 2018. Walker was arraigned a month later on nine felony sexual assault charges and was held on more than $1 million bail. Walker's defense team plans to appeal the sentence, Flier said.

☆ Jellysmack is launching a new studio that will produce months' worth of original content for creators
▼ + stars: | 2022-10-18 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +4 min

Jellysmack will produce original content for creators through its new division, JellySmash. When creators are burned out or simply seeking to scale, JellySmash can film two months' worth of videos in three days. Jellysmack on Tuesday unveiled a new original content division called JellySmash Productions that the company has been incubating for the past year. JellySmash will monetize the content by taking a cut of creators' ad dollars on the back-end of the content. Its flagship offering, the Jellysmack Creator Program, takes existing videos and optimizes them for distribution on other platforms.

☆ Citi says Amazon is a top internet pick in a slower economy. Here’s why we think so, too
▼ + stars: | 2022-10-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

Amazon (AMZN) is the most attractive internet pick in a slower global economy, Citi said Tuesday, further bolstering our that the company can maintain its leadership despite a weaker macro backdrop. Amazon can still gain wallet share, Citi says, even if the consumer weakens further. These upbeat commentaries on AWS come at a time when information technology budgets for enterprise customers are constrained in a slower economy. This will result in preserving Amazon's profit margins in a soft landing or increasing margins in a hard landing, Citi explains. While advertising, a cyclical business tied to the health of the economy, has also faced headwinds, Citi says Amazon's leadership in online ads can support profitability.

☆ UK may fine TikTok $29 mln for failing to protect children's privacy
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe TikTok logo is pictured outside the company's U.S. head office in Culver City, California, U.S., September 15, 2020. REUTERS/Mike Blake/File PhotoSept 26 (Reuters) - Britain could fine TikTok 27 million pounds ($28.91 million) following an investigation that found the short-form video app may have breached UK's data protection law by failing to safeguard privacy of children using the platform. The Information Commissioner's Office (ICO) has issued TikTok and TikTok Information Technologies UK Ltd with a "notice of intent", the regulator said in a statement. ICO's provisional view suggests that TikTok breached UK data protection law between May 2018 and July 2020. read more($1 = 0.9339 pounds)Register now for FREE unlimited access to Reuters.com RegisterReporting by Radhika Anilkumar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Amazon’s second Prime Day is set to boost sales ahead of the holidays
▼ + stars: | 2022-09-26 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

The announcement of a second Prime Day from Club holding Amazon (AMZN) sent shares of the e-commerce giant up around 2.5% on Monday. Prime members worldwide bought over 300 million items during Amazon's last Prime Day, in July. Analysts at JMP Securities said Amazon's second Prime Day could help "elongate the holiday spending period." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Amazon signage is displayed outside of an Amazon.com Inc. delivery hub in the late evening of Amazon Prime Day, July 12, 2022 in Culver City, California.

☆ Amazon remains top pick at UBS — and in our portfolio — despite FedEx’s alarming guidance
▼ + stars: | 2022-09-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

We are particularly encouraged by this analysis, because investors out there may end-up wrongly interpreting FedEx (FDX)'s terrible guidance and economic outlook as a warning about Amazon's business. Analysts are now scrambling to assess whether the problems that FedEx described in its business and the global economy at-large will slow Amazon's e-commerce. Since there are many differences between FedEx and Amazon's business, we are sticking with our long-term thesis on Amazon. Bottom line We like UBS' work here as many on Wall Street clearly extrapolated FedEx's guidance to mean Amazon's e-commerce business is struggling — when, in actuality, it is not. If consumers roll back their discretionary spending, which Amazon's e-commerce business relies on, profits from AWS can help offset changes in consumer spending behavior.

☆ Vaccine Development Has Changed Forever
▼ + stars: | 2021-05-13 | by ( ) www.wsj.com time to read: 1 min

Inside the Company Minting the Next Generation of Child StarsPocket.watch, a digital-media company in Culver City, Calif., wants to be ‘the Nickelodeon of the future,’ its CEO says. WSJ’s Chavie Lieber explains how the company identifies and then signs YouTube’s biggest kid creators and then works to create new shows and distribution deals with streaming giants. Zoe Thomas hosts. Photo: Pat Martin for WSJ Magazine

Persons: WSJ’s Chavie Lieber, Zoe Thomas, Pat Martin Organizations: Nickelodeon, WSJ Magazine Locations: Culver City, Calif

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