1. Chipotle Mexican Grill is celebrating National Avocado Day (July 31) by launching a limited-time stock market simulation game, “Buy the Dip,” that will give away $200,000 in various cryptocurrency to players, according to a press release. Players can access the game on the web from 10 a.m. to 6 p.m. PT daily starting today (July 25) through July 31 by using their Chipotle Rewards account. To play, participants must log in to their account and
purchase as many avocados as possible with virtual currency. The avocados can then be sold for a profit or loss in the game's marketplace. At the end of each day, the player with the most virtual currency will be awarded $1,000 in cryptocurrency. The grand prize winner, who will be announced on August 3, will receive $10,000 in cryptocurrency. In addition to the cash prizes, Chipotle will also be giving away free guacamole coupons to all players who make a profit in the game. Only issue? The
Cryptocurrency is dropping so fast that it might be worthless by July 31st.
2. Snap this week launched Snapchat for Web as a browser-based version of its popular photo-messaging app. The site lets Snapchat users continue conversations on its platform from their smartphones and computers, per an announcement. More than 100 million Snapchat users make video or voice calls through its app every month, according to internal data cited by the company. The video calls can include up to 32 participants and last for up to an
hour. However, the new web-based feature could lead to some awkwardness for users who are not used to having their conversations visible to others. For example, one user might be mouthing words to a friend while another is typing out a message. As a result, it will be interesting to see howSnapchat's new feature is used in the coming months.
3. In a move that is sure to please both the users and moderators of Meta, the company has announced that it will be contributing another $150 million to the Oversight Board Trust. This will enable the Board to continue hearing cases and help shape Meta's policy approach. The move comes after months of discussion and deliberation about the best way to govern the platform, and it is clear that the company is committed to ensuring that the Board
has the resources it needs to carry out its important work. We are all looking forward to seeing the fruit of their labor in the months and years to come. Thank you, Meta!
4. It's official: America loves a good insurrection. The ratings for Thursday night's special House hearing on the January 6 attack on the Capitol were through the roof, with 17.7 million Nielsen-measured viewers tuning in from 10 networks. That's the highest ratings for any hearing since the initial one on June 9, which drew 20 million viewers from 11 networks. Who knows what American viewers will find more compelling: the gripping
testimony of law enforcement officials about that fateful day, or the antics of the unruly mob itself? Either way, it looks like we're all glued to our screens for this one.
5. Many people believe that the biggest indicator of an impending recession is the stock market. However, it seems that TV advertising may be a better predictor. According to a new estimate, a downturn in the economy could drive a 9.6% decline in TV advertising this year to $78 billion. This would be a significant drop from the $86 billion that was spent on TV advertising last year. The decline in TV
advertising would likely have a ripple effect on the economy, as businesses reduce their spending in other areas in order to stay afloat. So, if you're looking for a sign that a recession is on the horizon, keep your eye on the TV commercials.
6. It seems that even social media giants are not immune to the effects of inflation. Despite adding 3 million new users compared to last year, Snap Inc. found that their ad revenue growth slowed in the second quarter. This follows a similar trend for Twitter, which also fell short of Wall Street's expectations. While Snap's user base is still smaller than Twitter's, it looks like both companies will need to find ways to adapt to the changing
economic landscape if they want to keep growing.
7. We've all been there: You're scrolling through Amazon, trying to find the perfect gift for your Aunt Mildred. You finally find what seems to be the perfect option, but you're not sure. So you scroll down to the reviews and see that it has five stars and people are raving about how much Aunt Mildred will love it. "Sold!" you think, and hit "add to cart." But then Aunt Mildred opens the gift and it's a complete dud. turns out, those
five-star reviews were fake. According to a recent study by NBER Summer Institute, fake online reviews cost shoppers 12 cents per every dollar they spend. That's a big problem for e-commerce platforms like Amazon, where 42% of reviews during the 2020 holiday season were fake. So next time you're considering making a purchase based on online reviews, take them with a grain of salt. Your wallet will thank you.
8. Russia has fined Google $365 million over YouTube videos containing ‘prohibited’ content. This is the biggest fine ever imposed on a foreign company by the Russian government. Google’s Russian subsidiary has already filed for bankruptcy, so it is unclear how they will pay the fine. The Russian government has said that the fine is in response to YouTube failing to remove videos containing ‘prohibited’ content, such as child abuse and
terrorism. However, many believe that the real reason for the fine is retaliation for Google refusing to comply with Russia’s internet censorship laws. Either way, it is clear that Russia is not happy with Google right now.
9. There’s been another twist in the saga of Meta’s attempt to buy GIF-sharing service Giphy, Bloomberg reports. Judges with the Competition Appeal Tribunal have told the UK’s competition regulator, the Competition and Markets Authority (CMA), to reconsider its previous ruling telling Meta to sell Giphy. “We have agreed to reconsider our decision in light of this finding,” the CMA told Bloomberg in a statement. The news comes just weeks after
the CMA said it was investigating whether the deal would result in “a substantial lessening of competition” in the UK gif market. However, it seems that the judges’ ruling may put an end to the investigation before it even starts. So far, there is no word on when the CMA will make its final decision on the matter.
10. Ahead of the debut of his new animated show, Krapopolis, Dan Harmon -- creator of hit series “Rick and Morty” and “Community,” as well as Fox Entertainment’s Web3 media and creative technology company, Blockchain Creative Labs -- is announcing a new NFT project. The Krapopolis website features a collection of 10,420 utility-focused NFTs called “Krap Chickens,” which drop for purchase on August 11. The NFTs can be used to unlock exclusive
content and experiences on the Krapopolis website, including early access to episodes, behind-the-scenes footage, and more. In addition, holders of the Krap Chickens will be able to participate in ongoing polls and surveys to help shape the future of the show. With its mix of humor, heart, and utility-focused gameplay, the Krapopolis NFT project is sure to be a hit with fans of the show.
11. It looks like ByteDance is really stepping up its lobbying game! The Chinese-based company, which owns TikTok, spent a whopping $2.1 million on lobbying in the second quarter of 2022 -- that's 130% more than the previous quarter. For the whole year of 2021, the company shelled out a total of $4.7 million on lobbying efforts. It's clear that ByteDance is serious about making its presence known in the US political landscape. With all that
money being pumped into lobbying, we can only hope that it will pay off for the company -- and for TikTok users who are hoping to keep the app alive in the States. Fingers crossed!