WaPoor
The Washington Post is struggling. Plus, tech and financial news.
Retired newspaperman Don Surber writes from his blog that the New York Times is giddy over reports that the Washington Post is losing money.
“The Washington Post is losing money, and none are happier than the staff at NYT. Ever since WaPo scooped in 1971 to publish classified material on Page One in the Pentagon Papers caper, the two have battled to be the Newspaper of Record.
Today, NYT reported, "Frustrations Mount at Washington Post as Its Business Struggles”
"With digital subscriptions and digital advertising revenue stagnating, the company is on pace to lose money this year."
The bottom line is the end of the Trump presidency hurt WaPo's bottom line.”
Jeff Bezos bought WaPo in 2013 and for many years the paper was humming strong.
But over the past year - subscriptions and ad revenues stalled.
WaPo is on pace to end the year in the red. And 100+ employees may get laid off.
A fitting predicament for an outfit that worked to help the current regime gain power.
~ Oh Snap!
Popular instant messaging app Snapchat is also struggling.
In fact, today the company began laying off employees. Reports say SnapChat will lay off 20% of their staff.
“Snap has had a difficult year, with the company most recently missing on both revenue and earnings in the second quarter. In its Q2 investor letter on July 21, Snap said it would not provide guidance for its current quarter and said, “forward-looking visibility remains incredibly challenging.”
Snap shares dropped more than 25% on the day it reported its second quarter earnings. The company’s disappointing results kickstarted a wave of social media companies reporting poor results, citing a weak online advertising market, among other reasons.
Facebook-parent Meta also missed analysts’ estimates for its second quarter, as did Pinterest.
The social media companies blamed some of their problems on businesses cutting back on digital advertising because of the weak economy. Additionally, these companies have said that a 2021 privacy update to Apple’s iOS has made it more difficult for them to track users, thus negatively impacting their online ad units.
Earlier in August, Snap scrapped the development of its Pixy flying camera drone, first announced in April.
Snap declined to comment on the report.”
~ Financial Firm Drops All Covid Protocols - Including the Shots!
Goldman Sachs got some good news and potentially bad news — the company will no longer require their employees to follow ANY COVID protocols, which includes vaccines, masks, or testing.
That’s the good news.
The bad news is all employees will no longer be able to work from home and will be required to commute to the office after Labor Day.
From the NY Post: “In a memo sent Tuesday obtained by The Post, Goldman Sachs told workers it will no longer require vaccines, COVID testing or masks — a signal it won’t accept excuses for employees who claimed COVID as a reason for working from home.
“There is significantly less risk of severe illness,” the memo stated. “In line with [the CDC’s] updated protocols, if you have not been coming into the office, please speak with your manager to ensure that you understand and adhere to your division’s current return to office expectations.”
The official memo comes just days before the bank expects all employees to return to its offices five days a week, sources add.
“This is another way of Goldman Sachs saying, ‘School’s in session and we want you in person’ after Labor Day,” Wells Fargo bank analyst Mike Mayo told The Post. “Goldman is the ultimate customer-facing firm and it’s tough to face customers remotely.”
Some of the best sources for news are found in the financial niche. (Pronounced nitch not neesh.)
One of my favorites is on YouTube - produced by Stansberry Research, The Daniela Cambone Show is a fantastic interview format. Their guests are not the usual talking heads that get passed around from one media matrix outlet to the next.
Here is a recent episode called ‘We’re in the Matrix:” U.S. on a Trajectory That’s Not Going to End Well, Warns David Morgan Daniela and David talk about inflation and globalization. “Based on the current geopolitical landscape, "globalization is breaking up and is basically a failure," Morgan concludes.
It’s every nation for themselves now! The breakup is happening…