FCC Chair Under Investigation, Snap CEO Defends App Redesign
FCC Chairman Ajit Pai is under investigation for collusion. Last year, Pai and the FCC changed the law which dictates how many stations a TV broadcaster can own. This paved the way for Sinclair to buy Tribune Media for $3.9 billion. Now, investigators are looking into whether Pai improperly colluded with Sinclair to change these rules.
Snap CEO Evan Spiegel is doubling down on the controversial app redesign after facing fierce backlash. At a conference, Spiegel said the widespread criticism actually validates Snapchat's mission. The update rolled out globally a few days ago and has faced sharp backlash from teens and even celebrity influencers like Chrissy Teigen. The new Snapchat separates friends and family from celebrities and media content. A petition to revert back to the old version has already picked up 1 million signatures.
API platform RapidAPI recently became a unicorn with a $1 billion valuation after raising $150 million in a Series D funding round led by Softbank Vision Two Fund. Microsoft's Venture Fund, M12, and Andreessen Horowitz also participated. RapidAPI says it provides the world's largest API hub which enables millions of developers and companies to build software faster. Iddo Gino, founder and CEO of RapidAPI, joins Cheddar News' Closing Bell to discuss.
Facebook parent Meta officially has changed it’s ticker symbol from ‘FB’ to ‘META’. Paul Meeks, a portfolio manager, Independent Solutions Wealth Management, and a professor of practice in the Baker School of Business at The Citadel, joined Cheddar News to discuss why the tech giant has had to make big changes to its name, its ticker, and its business plans. "When you see what's happening in digital advertising — and there was a slowdown there even before the threat of a recession, which could cause a even more drastic slowdown next year — they had to pivot," he said. Meeks noted he sees Facebook dominating in the metaverse space going forward — whatever that may end up being.
In a recent Bumble survey, more than a third of respondents revealed that they would be willing to date people in other cities. Shan Boodram, a sex and relationships expert for the app, joined Cheddar News to talk about the long-distance dating trend and tips on how to go about taking part. "I think this is the magic of what we experienced over the past couple of years, is that we have already learned the tools necessary to stay connected with people despite not being able to be close to them," she noted. Boodram also pointed to Bumble's travel mode and using video conferencing in order to ease into such relationships.
On this episode of Cheddar Innovates: CEO of Achieve Life Sciences discusses a new plant-based compound that's being used to fight nicotine addiction; President & CEO OF DiaMedica Therapeutics explains a new ischemic stroke treatment option that expands the window for effective therapy for stroke patients; Cheddar gets a look at Curiosity Stream's 'Asteroid Rush.'
We are already starting to feel the effects of summer. Heat waves in Texas and California are already sending temperatures soaring. That could spell trouble for the nation's power supply. there are new concerns about outages in many areas of the country. Cheddar's Shannon Lanier explains the two main causes of blackouts, and what states are doing to keep the lights on and the air conditioning running.
U.S. stocks close Tuesday at session highs after a subpar start to the trading day. Tim Chubb, Chief Investment Officer at the wealth advisory firm, Girard, joins Cheddar News' Closing Bell to discuss. 'We're starting to see the moderation of three core things -- we've seen the moderation of prices, we've seen the moderation of wage growth we've seen in the labor market, and we've also seen a moderation of job openings,' he says.
CreditCards.com senior industry analyst Ted Rossman compares the Apple Pay Later offering to similar four-step processes at Affirm and Klarna, and says this is a way for the tech giant to dive deeper into the financial industry.
