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Rousseau Kazi earned a bachelor's degree in computer science from UC Berkeley. He worked at Facebook from 2011 to 2017. For most of that time he was a product manager. In 2019 he launched Threads, a text-based messaging app for workplaces. The name is trademarked. On July 5, 2023, Meta launched Threads, a text-based messaging app. Kazi might take legal action against Meta.
You may have downloaded the wrong Threads
A four-year-old app with the same name has seen a surge in popularity since Instagram launched its Twitter clone. More than 1.8 million people have downloaded the "other" Threads app. It surged in Europe, where Meta's Threads is not available.
https://www.businessinsider.com/down...wnloads-2023-7
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In many cities – including New York, Los Angeles, Boston, Pittsburgh. Seattle and Washington DC – unused office space is being converted to rental apartments. In California, the Affordable Housing Act (Assembly Bill 2011) took effect July 1. It allows for expedited approval of affordable housing to be built on properties zoned for retail, office or parking. Unused commercial properties in Los Angeles County could accommodate as many as 1.6 million housing units.
Office vacancy hits an all-time high
Business Insider, Jul 19 2023 10:38 AM PDT
The US office vacancy rate hit a record high of 13.1% at the end of last quarter, despite an uptick in people heading back to in-person work, according to the National Association of Realtors.The vacancy rate surpassed prior highs from 2022, when every quarter stood above 12%. In the two years before the pandemic, the quarterly rate held at around 9.5%. NAR attributed the new record high to hybrid work, which allows people to split their time between the home and the office, leaving a lot of space still empty.
https://markets.businessinsider.com/...lending-2023-7
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In the second quarter of 2023, Netflix added 5.9 million subscribers and made a profit of $1.8 billion on revenues of $8.3 billion – but shares of Netflix closed today at 437.42, a loss of 40.17 (8.41%).
Streaming has surpassed cable as America's most-watched viewing platform
https://www.nbcnews.com/business/con...form-rcna95313
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I nominate Elon Musk for the "Idiotic Business Ideas of 2023" award.
Elon Musk says he's retiring Twitter's bird mascot, renaming site
Musk unveiled a slick new X logo hours after bidding "adieu" to the bird.
https://www.huffpost.com/entry/elon-...b0df863210e2d0
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I nominate this product for the "Bad Ideas of 2023" award. Shares of French's parent company McCormick closed today at 89.82, a gain of 1.03 (1.16%). Skittles parent company Mars Incorporated is privately held.
French’s and Skittles team up to release mustard-flavored candy
https://ktla.com/news/nationworld/fr...lavored-candy/
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Among the gainers today: IBM, Intel, Amgen, Apple, Merck, Chevron and Verizon. NASDAQ's biggest gainer today is Vicor Corporation, a Massachusetts-based manufacturer of modular power components and complete power systems. Shares of Vicor closed at 93.70, a gain of +34.29 (57.72%).
Dow notches longest winning streak since 1987 after latest Fed rate hike
https://markets.businessinsider.com/...ed-hike-2023-7
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Yellow Corporation, founded in 1929 as Yellow Transit Freight Lines, had nearly 30,000 employees and owned more than 12,000 trucks. Among their subsidiaries were Reddaway, Roadland Express, New Penn Motor Express, Reimer Express Lines and YRC Freight. Shares of Yellow closed July 28 at 0.71.
Trucking giant Yellow shuts down operations
https://www.msn.com/en-us/money/comp...ns/ar-AA1ewWa6
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In June, Overstock bought the Bed Bath & Beyond brand for $21.5 at an auction supervised by a bankruptcy court. The purchase did not include the chain's few remaining stores, which have since closed.
Bed Bath & Beyond is back from the dead
CNN, Aug 1 2023 10:21 AM EDT
A month after Overstock.com announced it bought Bed Bath & Beyond’s brand out of bankruptcy, the company has dumped its name and morphed its website and app. Overstock’s website relaunched today as BedBathandBeyond.com, a move that merges Overstock’s online business model and merchandise categories with popular branded products favored by Bed Bath & Beyond shoppers.
https://www.cnn.com/2023/08/01/busin...nch/index.html
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The first iPhones went on sale June 29, 2007. There was a 4 GB model and an 8 GB model. The newest model, the iPhone 14 Plus, was released in October 2022. Shares of Apple closed today at 191.17, a drop of 1.41 (0.73%), and fell after hours to 187.02, a drop of 4.15 (2.17%).
Apple iPhone sales drop more than forecast; revenue falls for third straight quarter
https://www.aol.com/apple-q3-earning...185434243.html
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During a July 26 conference call with investors, Mark Zuckerberg predicted Threads would someday have one billion users. Uh, yeah, about that.....
Threads' user base has plummeted 82%. Meta's app ended July with just 8 million daily active users.
https://www.businessinsider.com/thre...kerberg-2023-8
