⏱Profit off of your single friends
No more NRA? North Korea has missiles?
Hello and welcome to 90 Second News issue #78. Today is Saturday, January 16th.
Good morning everyone. Welcome to the weekend — we hope you’re reading this after a solid nine hours of sleep.
0:05- Now you can invest in your single friends
Bumble, the popular dating app, officially filed to go public today under the ticker $BMBL. The app was founded by CEO Whitney Wolfe Herd, who originally was at Tinder before she left and sued them for sexual harassment and discrimation, thus the shtick of Bumble only allowing women to make the first move. In their filing, they showcased 42M monthly active users and 2.4M paying users with a revenue of $416M in the first nine months of 2020, suggesting they could achieve at least a conservative $3Bn valuation.
0:29- NRA — No Reserve Assets?
Late Friday afternoon the NRA filed for chapter 11 bankruptcy in a US federal court, in a move that they claim is targeted at restructuring the company and moving to Texas as a nonprofit. The reason? In a press release, the organization said they wished to exit “a corrupt political and regulatory environment in New York.” The anger from the organization most likely stems from New York Attorney General Letita James attempting to dissolve the NRA in a lawsuit which alleged that the leadership was siphoning millions away for personal gain.
0:53- An $180M procrastination tax
Normally procrastination just means you get 50% off your assignment. Unfortunately for Toyota, the DOJ hit them with a $180M fine instead. In the release, the DOJ said that Toyota had delayed the filings of required EPA Clean Air Act reports on more than 78 cases, and missed more than 200 quarterly reports on the same topic. Toyota claims that these oversights and delays are a result of, “a process gap,” but did not dispute the claim.
1:13- A rather concerning display of military power
Teddy Roosevelt always said, “Talk softly and carry a big stick,” but apparently Kim Jong Un heard, “Talk loudly, and carry a bigger stick.” Yesterday the North Korean dictator put on a military parade in which he displayed dangerous new tech (for them) to the public such as a submarine capable of launching a ballistic missile.
1:27- A resource that has saved countless students
Yesterday was the 20 year anniversary of Jimmy Wales and Larry Sanger creating Wikipedia, which has grown to the 13th biggest website, with over 1.7Bn unique visitors monthly as a non-profit!
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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