In other news, retirement account balances are increasing due to a booming stock market, but experts warn against retiring early. Big Tech is accused of stifling innovation by buying competing startups and defanging potential rivals from within. Lastly, the article discusses the downfall of Chicken Soup for the Soul, the manipulation of Facebook's Performance Bonus program, and the demographics of America's HENRYs (high earners, not rich yet).
Key takeaways:
- Meme stocks are back in fashion, with Reddit becoming a new fan favorite and Trump Media and Technology Group's shares skyrocketing despite its poor balance sheet.
- Retirement account balances are on the rise due to a booming stock market, but experts warn against retiring early based on this.
- Big Tech companies are stifling innovation by buying competing startups and defanging potential rivals from within.
- Chicken Soup for the Soul, once a cultural touchstone, has lost its way, while Amazon's VP of Prime Video and global head of sports, Jay Marine, is making moves towards the NBA.