1.) China’s Variable Interests
2.) Delta Delays RTO
3.) HOOD Haters
4.) Tech Earnings Smash

1.) China’s Variable Interests: the crackdown over economic interests accelerated with Chinese education companies becoming non-profits, Tencent ending their exclusive streaming contracts, variable interest entities (the way Chinese companies go public in the US) being called into question, and more out East. Net net..the CCP reigns supreme

2.) Delta Delays RTO: Apple, Google, Facebook, Uber, Lyft, Roblox, and others are delaying their return to office with the delta variant running rampant all over the world. Some choosing dates as late as Feb ’22. Will this pandemic ever freakin end?

3.) HOOD Haters: Robinhood went public on Thursday with the share price falling below its offering by as much as 12% intraday. “The worst market debut of its size ever” they said. The haters were out in force! The company allocated up to 30% of shares to customers. Maybe the institutions were salty. FB didn’t have too great of an IPO either. They ended up ok? Let’s let things play out!

4.) Tech Earnings Smash: Big tech reporting earnings and simply smashed it. MSFT and AMZN were down but c’mon it’s all relative. The numbers were massive. FB and GOOG demonstrated that the online ad space is en fuego. Apple’s 5G upgrade cycle brought them their most profitable spring quarter ever. What if this is just the beginning?