Google Fires 28 Employees 😭

Good morning. It's Thursday, Apr. 18, and we're covering, Amazon Expands Cashierless Shopping Tech in Third-Party Stores Amid Shift Away in Its Own, Google Fires 28 Employees Amid Protests Over Military Contract, Sydney Assyrian Church Bishop Forgives Attacker Amidst Rampant Riots and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $2.24 Trillion, a 3.49% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $97.42B, which makes a 2.08% increase.

• The total volume in Defi is currently $6.97B, 7.16% of the total crypto market 24-hours.

• The volume of all stablecoins is now $91.47B, which is 93.89% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 53.80%, a decrease of 0.47% over the day.

BUSINESS & FINANCE

Amazon Expands Cashierless Shopping Tech in Third-Party Stores Amid Shift Away in Its Own

Amazon.com announced its plans on Wednesday to extend its cashierless shopping technology, known as "Just Walk Out," to more third-party stores this year, while concurrently reducing its utilization of the technology in its own establishments. The online retailer disclosed that approximately 140 stores currently employ the "Just Walk Out" system, which enables customers to enter a store by scanning an app and exit with their items without the need to pay at a traditional register. Amazon intends to more than double this number over the course of the year.

Takeaway: A human reviewers in India are employed to monitor customers as they shop, Amazon clarified that the technology relies on computer vision algorithms for generating receipts, with human reviewers assisting in improving accuracy, not actively monitoring customers. ( Read Deeper )

Tesla Proposes Shareholder Vote to Reinstate Elon Musk's $56 Billion Pay Package

Tesla has announced plans to seek shareholder approval to reinstate CEO Elon Musk's $56 billion pay package, which was voided earlier this year by a Delaware court. Additionally, the company intends to relocate its incorporation from Delaware to Texas in response to the court's decision. The decision to seek reinstatement of Musk's pay package comes after a Delaware judge ruled the compensation deal as "deeply flawed" and invalid. Tesla asserts that the court ruling has created a fundamental challenge for the company, prompting it to take action to address the issue.

Takeaway: The decision to seek shareholder approval for these measures follows months of legal battles and challenges. The court's ruling, which invalidated Musk's pay package, was prompted by a lawsuit filed by a Tesla shareholder earlier this year. The court found that Musk exerted control over the company and that the board's compensation committee failed to negotiate the terms of the deal independently. ( Read Deeper )

TECHNOLOGY & SCIENCE

Google Fires 28 Employees Amid Protests Over Military Contract

Google has terminated 28 employees after a series of protests against the company's contract to provide cloud computing and artificial intelligence services to the Israeli government and military. The move comes following a demonstration staged by nine Google workers, who were subsequently arrested for trespassing during a sit-in protest at the company's offices in New York and Sunnyvale, California. The protests were organized by the "No Tech for Apartheid" group, which opposes Google and Amazon's joint $1.2 billion contract with the Israeli government. The terminated employees were found to be involved in the protests, prompting their dismissal.

Takeaway: The protests were sparked by concerns over Google's contract with the Israeli government, particularly in light of recent events in Israel and Gaza. The situation escalated after Hamas carried out deadly attacks on Israel, prompting a declaration of war and a siege of Gaza by Israel. The terminated employees were arrested during a sit-in protest that lasted for several hours. They were subsequently released from police custody after about four hours. ( Read Deeper )

Tesla Corrects Severance Package Error After Layoffs

Tesla CEO Elon Musk acknowledged that the company had sent out severance packages that were "incorrectly low" to some laid-off employees. Musk apologized for the error and assured staff that the issue would be rectified immediately. The electric vehicle company announced earlier this week that it would be reducing its global workforce by more than 10%, affecting around 140,000 employees as of the end of 2023. While few details have been provided about the layoffs, Musk mentioned in a companywide memo on Monday that they were intended to help "prepare the company" for its "next phase of growth."

Why it matters: The company reported an 8.5% year-over-year decline in first-quarter deliveries, marking its first drop since 2020 when operations were disrupted by the global pandemic. ( Read Deeper )

AROUND DE WORLD & POLITICS

Sydney Assyrian Church Bishop Forgives Attacker Amidst Rampant Riots

Following a stabbing incident during a church service in Sydney, Bishop Mar Mari Emmanuel of the Assyrian Christ The Good Shepherd Church has expressed forgiveness towards his attacker. The bishop, who sustained injuries during the attack, assured the public of his quick recovery and extended forgiveness to both the assailant and those potentially behind the act. In his first public statement since the incident, Bishop Emmanuel conveyed his gratitude for the concern shown towards him and emphasized his forgiveness towards the perpetrator and anyone associated with the attack.

Takeaway: The attack, which occurred within the span of three days following a separate knife assault at a shopping center near Bondi beach, has deeply unsettled residents of Sydney. A male teenager has been arrested in connection with the stabbing of Bishop Emmanuel and is currently under police custody in the hospital. ( Read Deeper )

Ukraine Issues Stark Warning of Potential Third World War Amidst Aid Vote

Ukraine's Prime Minister, Denys Shmyhal, has delivered a stark warning of the potential for a Third World War should Ukraine lose its ongoing conflict with Russia. Speaking to the BBC, Shmyhal urged the US Congress to swiftly pass a long-delayed foreign aid bill, stressing the critical importance of international support for Ukraine's defense efforts. The aid package, totaling $61 billion and earmarked for Kyiv, is set for a crucial vote in the House of Representatives this Saturday. Shmyhal expressed cautious optimism regarding the bill's passage but emphasized the urgent need for assistance, stating, "We need this money yesterday, not tomorrow, not today."

Takeaway: Ukraine faces military obstacles, including ammunition shortages and declining morale among troops. The country's reliance on Western aid and support underscores the critical need for timely assistance to bolster its defense capabilities. ( Read Deeper )

ENTERTAINMENT & SPORTS

Guardiola Reveals Haaland and De Bruyne Requests to Come Off in Champions League Loss

Following Manchester City's heart-wrenching defeat by Real Madrid in the Champions League quarter-finals, manager Pep Guardiola revealed that star players Erling Haaland and Kevin de Bruyne both requested to be substituted before the penalty shootout. In a match that ended 4-4 on aggregate, City ultimately succumbed to Real Madrid in a tense penalty shootout, with the absence of Haaland and De Bruyne keenly felt. Guardiola disclosed that both players signaled their inability to continue, citing unspecified issues. ( Read Deeper )

Paris Jackson's Upcoming Music: A Journey of Self-Expression

Paris Jackson, the daughter of the late King of Pop, Michael Jackson, is preparing to unveil her deeply personal journey through music. In a recent interview on Jade Iovine's podcast Live From Bed, the singer/model discussed her forthcoming music, hinting at a raw and emotional narrative that may challenge some listeners. Jackson, 26, revealed that her new songs delve into intimate aspects of her life, acknowledging that they might be difficult for some people to hear due to their sensitive nature. However, she emphasized that sharing her story through music is a cathartic process for her, regardless of the potential impact on listeners. ( Read Deeper )

PODCAST(WHAT WE ARE LISTENING TO)

• Are you curious about checkout upsells – are they just another sales trick, or can they shake things up for your business? ( Listen )

EXTRA BREVITI

• Ramp raises another $150M co-led by Khosla and Founders Fund at a $7.65B valuation ( Read More )

• LinkedIn testing Premium Company Page subscription with AI-assisted content creation ( Read More )