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.
Electric vehicle charging company Wallbox goes public via a SPAC on the NYSE under the ticker symbol WBX.
Wallbox has merged with special purpose acquisition corporation Kensington Capital Acquisition. Enric Asunción, CEO of Wallbox, joins Cheddar News' Closing Bell to discuss.
The parcel delivery industry is getting more competitive as more companies enter the space with climate change in mind. Carl-Magnus Norden, founder and executive chairman at Volta Trucks, joined Cheddar to talk about electrifying delivery vehicles as well as the startup’s $44 million funding round. Despite ongoing driver shortages, he noted that he didn't see autonomous delivery being available in city settings within the next five years.
Jeff Bezos' space travel company Blue Origin is under fire after a group of 20 current and former employees signed a letter to the FAA claiming safety violations that were detailed along with accusations of sexual harassment.
