⏱Biden binge buys

Faster online checkouts and streaming skyrockets

Good morning everyone, and welcome to Wine Wednesday (or if you’re under 21, unfortunately just Wednesday)

0:05- Big purchases to solve a big problem

• Yesterday the Biden administration announced that they would be increasing the amount of vaccines distributed to the states by 16% for the upcoming three weeks. In the same release, they also unveiled their plan to purchase enough additional doses of the vaccine to completely inoculate the US population. This means that the US government will be purchasing an additional 200M doses, an increase of 50% from the original plan.

0:23- The best online purchase? A Fast one

• Fast, an online payment vendor, is geared at making the experience for shoppers well... fast. Yesterday, it announced a $102M Series B funding round that was led by another payment giant, Stripe. The CEO, Domm Holland, described Fast by saying, “It’s one-click checkout for the entire internet” and said that they want to fix the “shopping cart abandonment” issue for consumers who are frustrated by the checkout process.

0:41- An electric decision

• As Biden continues the initial phase of his presidency, small changes are continuing to make a large impact in the economy. One example was his announcement that he is changing the entire gas powered federal fleet of federal vehicles to EVs made in the US. This change coincided with his “Buy American” speech, and the stock market loved it. EV stocks such as $WKHS and $NKLA were up in the market yesterday following the news.

1:01- Do you think Red Sox will be a part of the dress code?

• Amazon is currently planning on hiring more than 3k corporate employees for its new 630k sq ft Boston office once it’s finished. Those roles will include support teams, Amazon Pharmacy roles, and general tech and software development jobs. This strategic movement is a part of a larger expansion from Amazon which is currently adding six cities to its real estate portfolio. 

1:17- Well, there’s not much else to do...

• A recent study conducted by J.D. Power found that American’s spending on streaming services has increased by almost 38% YoY. Last January the average US household spent $34 a month on streaming services, and this year that number is at more than $47. Netflix also retained the king of streams title by a 20% margin over Amazon Prime. 

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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