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- Nov 11th Quick Takes
Nov 11th Quick Takes
Hello, Biz Enthusiasts!
AI is shaking things up, from dethroning Chegg in education to enhancing Claude 3.5 for next-gen tasks. We’re also diving into big mergers like Printful and Printify, Lyft’s stock surge, and even the Fed’s second rate cut this year. And, in a bold move, Australia’s aiming to ban social media for under-16s. Plus, get insights on Trump’s influencer-fueled campaign and Mozilla’s tough layoffs. Catch today’s top business trends in quick bites!
1. How ChatGPT Brought Down an Online Education Giant
Chegg, once the top choice for homework help, is in freefall, with students now flocking to ChatGPT. Chegg’s subscriber base has dwindled, and its stock is down 99% since ChatGPT's debut. Full story.
2. Printful and Printify Ink a Merger Deal
Printful and Printify are joining forces in a major move for the on-demand printing world. The merger aims to improve efficiency and scale as these Latvian-founded companies tackle a challenging market. Read more.
3. Fed Cuts Interest Rates for the Second Time This Year
The Fed has cut interest rates by 0.25%, reflecting confidence in a stable job market and cooling inflation, but potential policy changes from the President-elect add uncertainty. Learn more.
4. Lyft Shares Surge 20% on Revenue Growth
Lyft’s stock jumped over 20% as revenue exceeded expectations despite an earnings miss. Strong rider growth and increased activity signal solid momentum for the rideshare company. Check it out.
5. Mozilla Foundation Lays Off 30% Staff, Ends Advocacy Division
Mozilla Foundation is letting go of nearly a third of its team and cutting its advocacy arm as it refocuses on core projects to tackle rapid industry changes. Details here.
6. Australia Proposes Ban on Social Media for Under-16s
Australia is rolling out a bold proposal to ban under-16s from social media, citing mental health risks. The ban could take effect as early as next year. Read on.
7. Trump’s “Influencer Election” Strategy Pays Off
Donald Trump’s early investment in influencer support helped secure his election win, marking a pivotal role for social media personalities in modern campaigns. Full story.
8. Three Benefits of Claude 3.5 Haiku
Anthropic’s Claude 3.5 Haiku model brings new capabilities for next-level AI tasks, with Amazon Bedrock onboarding it for developer use. More details.
That's a wrap! Stay tuned for more insights and updates as we track these changes together in the weeks ahead!
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