⏱The airbags are exploding?!
90 Second News Issue #29
Happy three days before Black Friday day to all of you! We hope you’ve been doing some finger strengthening exercises to get ready to click that mouse.
GM agreed yesterday to recall more than 5.9m SUV and pickup trucks to replace Tataka air-bag inflators. This move, which will cost them over $1bn was initially resisted by the automaker, but the National Highway Traffic Safety Administration required them to proceed with the recall, citing that the airbags were “prone to deadly explosions”.
Yesterday Snap announced that they would be releasing their “Spotlight” feature, a way for users to share videos to the world. This comes as Instagram also recently made a push into viral short form content, however, Snap is pursuing an aggressive content push— they will be paying out more than $1m a day to the top creators of the feature in an effort to drive consumer interaction.
Biden released his pick for Treasury secretary yesterday as former Fed chair and economist Janet Yellen. If she were to be confirmed, this would be historic as she would be the first woman to hold the position, similar to her glass ceiling bre
aking appointment as Federal Reserve Chair previously. She would also become the first person to have led the Fed, the Treasury, and White House Economic council.
Last Friday it was announced that two of Vox’s executives would be leaving the company. Both Ezra Klein, co-founder and editor-at-large, and Lauren Williams, editor-in-chief will be exiting to pursue new options outside the company. This move comes less than a week after another co-founder Matthrew Yglesias also left to start his own newsletter.
Guitar Center officially declared Chapter 11 bankruptcy yesterday, marking the end of a 61 year old run by the company. They had made valiant efforts to stay profitable during the pandemic, such as offering virtual lessons, but without the ability to communicate to customers, they were unable to convince them to make discretionary purchases.
After AstraZeneca’s vaccine that was announced today to be 90% effective, we now have it in addition to Pfizer’s (95%) and Moderna’s (95%) as well. That means the vaccine is 200% solved. . . right? (we wish)
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
Have any questions, comments, concerns? Email us at team@90SecondNews.info
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