⏱Texting for Tacos
Bitcoin buys a Tesla, and an unfortunate mistake
Good morning everyone, and welcome to a beautiful Thursday! If you’re enjoying the newsletter, would you mind sharing it with one other person? Thanks!
Early Tuesday morning, a massive vessel entitled “Ever Given” managed to get itself stuck sideways in the Suez Canal, one of the most highly trafficked ocean routes in the world. This blockage caused by the 1312ft ship, has now caused hundreds of boats to be stuck in passage, and is estimated to be costing millions of dollars an hour in deadweight loss as it strains an already stressed global supply chain. There are currently several different methods being used to dislodge the vessel, but so far all have been unsuccessful. Oh, and the ship captain also drew a rather... interesting path in the water right before this happened.
0:34- Crypto goes mainstream
As cryptocurrencies slowly begin to gain legitimacy in the eyes of the public, more and more businesses are beginning to adapt. Two days ago, the Miami Heat announced that they had agreed to an arena-naming rights deal with crypto exchange site FTX for $135M, and then yesterday, Elon Musk tweeted that Tesla would immediately begin accepting Bitcoin as payment on their site. Interestingly, he also said that all Bitcoin revenue would be held as crypto, and not converted to fiat.
Yum Brands, the parent company of KFC, Taco Bell, and Pizza Hut announced yesterday that it had purchased Tictuk Technologies, a tech startup from Israel, that allows consumers to order food via text messages. Yum had originally tested the idea in over 900 locations and found enough data to justify purchasing the company to both better implement the system as well as to lock competitors out CFO Chris Turner explained this by saying, “Our digital transactions are a win on just about every dimension from an economic standpoint.”
1:18- Weed in NYC?
Yesterday, after years of trying, lawmakers in New York announced that they had agreed upon an arrangement to make marijuana legal in the state. The new bill will be passed through the Assembly and Senate, and then to Governor Andrew Cuomo’s desk, who has been a big proponent of the measure since 2019. If the bill does go through, New York would be the 16th state to legalize recreational marijuana.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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