Week 1, June 21 – Weekly Wrap Up
1.) Memes for Popcorn
2.) More Cyber Attacks
3.) Snowflake Slip Up
4.) Not All Software Wins
1.) Memes for Popcorn: AMC stock is being meme’d like a mofo again. Reportedly 80% of shares are owned by retail investors and now they’re giving free popcorn to shareholders. The company now has $2B cash on hand and their CEO gave a pantsless interview to a YouTouber (allegedly). Are movies back? Either way, AMC isn’t going anywhere now!
2.) More Cyber Attacks: First they came for the oil, but you did not say anything because you drove a Tesla. But NOW they came for your meat!! WTF! JBS, Earth’s largest meat processor, suspended North American and Australian operations this week following a ransomware attack. We’re in a new era of warfare, people. Don’t you even say anything Tesla driving vegans.. You could be next!
3.) Snowflake Slip Up: in a widely played Bloomberg clip Snowflake CEO Frank Slootman said “diversity shouldn’t override merit in hiring decisions” and that many CEOs agree with him in private. He’s getting dragged for the clip and you’ll surely hear more about this one next week. The puns, ohh the puns
4.) Not All Software Wins: Cloudera is being taken private by KKR and CD&R after tepid growth the past few years. Activist Elliott Management bought a 10% stake in Dropbox hoping to revitalize shareholder returns. Not everyone builds a moat and not everyone wins in the fiercely competitive cloud markets