A general view of the exterior of the Staples Center on November 18, 2021 in Los Angeles, California. (Photo by Frazer Harrison/Getty Images)
Cheddar has been covering the biggest news of the week with some of the biggest names in the biz. In case you missed it, we've pulled together some of the highlights that will keep you informed as we get ready for the week ahead.
Oprah's Favorite Things
After 25 years, "Oprah's Favorite Things" continues to trend as the holiday rush kicks into high gear. The segment, which first aired on the Oprah Winfrey Show, has become a trusted guide for people looking to be crowned Gift Giver of the Year. Gayle King, editor-at-large of O, The Oprah Magazine, and Adam Glassman, creative director at Oprah Daily, said the list remains popular among fans because they have grown to respect the former talk show queen's opinion over the years. "People trust her. People like her. They know that she doesn't make recommendations just because something is the new hot thing. She genuinely has to like it," King told Cheddar.
Bye Bye Staples Center
LA's iconic Staples Center, home to four of the local sports teams, will no longer exist starting Christmas Day after AEG closed its historic deal with Crypto.com to rename the building to Crypto.com Arena. The $700 million, 20-year deal is said to be the largest naming rights deal in history. "There's nothing that compares with the Staples Center — or the venue formerly known as Staples Center, now Crypto.com Arena. Everything from the Grammys being broadcast there, the Lakers playing from there, the Kings, the Olympics will be there. It's an incredible globally-known venue that we're so proud to be part of," Steven Kalifowitz, chief marketing officer at Crypto.com, told Cheddar.
Booze Delivery With Drizly, 7-Eleven
Convenience in 2021 is being able to order your favorite tequila from platforms like Drizly and have it arrive at your doorstep in under an hour. Now, the alcohol delivery service is expanding its options to link consumers up with more retailers than just small mom-and-pop liquor stores. Customers in 11 states can order booze from more than 1,200 7-Eleven locations. Cathay Lewenberg, Drizly COO, told Cheddar that while partnering with small businesses has helped grow the company, the 7-Eleven partnership will allow Drizly to service even more customers and get them their goods in under an hour. "We actually grew 350 percent last year alone. We continue to see growth, and we are not expecting this to slow down," she said.
The State of Retail
While the pandemic has been a rollercoaster ride for the retail industry, the holiday shopping season is showing promise for the economy despite supply chain constraints and inflated prices on goods. Walmart reported a beat on the top and bottom lines in their Q3 earnings report and according to Katie Thomas, lead at Kearney Consumer Institute, it's a signal that the broader retail sector is adapting to conditions brought on by the pandemic. "I think that today's retail numbers show that there is clearly still a pent-up demand. We're looking to spend. We're ready to spend," she said.
S&P 500 Twitter Sentiment Index
Over the last 20 months, it has become evident that social media has the power to move markets. Now, Twitter and the S&P Dow Jones Indices are getting into the game to find out what the everyday retail investor is thinking. The companies have created the S&P 500 Twitter Sentiment Index to monitor the performance of 200 S&P members through tweets that include relevant $cashtags. Peter Roffman, global head of innovation and strategy at S&P Dow Jones, told Cheddar that at some point, the index will be licensed in order to make room for potential investing. "It will be over the next several months and the timing is based on client demand and what kind of products we're ultimately going to see. But it's going to come as quickly as the clientele would like it to come," he said.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
With a merger this big, creators, studios, and theaters all face uncertain futures. Here’s what experts are worried about and what good could come from it.
With disengagement rising and hybrid work shifting, 'Everybody Matters' author Bob Chapman explains why treating people well could define the future of work.
We sat down with Ali Furman, U.S. Consumer Markets Industry Leader at consulting firm PwC to ask what trends she garnered from the initial data this year.
