…And She Fired The Black Man: London Drama

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My exact footage every time I think about writing to you! How are you doing?
Edges, laid? Skin, glowing? Taking your vitamins? Drinking water & minding your business?


Today’s newsletter will leave you nothing but edu-ma-cated! So, let’s go to class, shall we?!

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UK economy shrank record 11% in 2020, worst since 1709 | Fin24

How It Started

Although new prime Minister Liz Truss came into office last month in high hopes and full of promises to reinvigorate the British economy, her tenure has been ridden with soaring mortgage rates, record-low falling pound and a chaos-infused bond market.

It’s really not been roses, petals & sunshine for Liz’s tenure, and to compound it, “Lizzy Baby” decided that announcing tax cuts (of >100 billion pounds) & spending increase without granular details on who’s going to bear the cost of these grandiosity was the best path forward. Needless to say, this spooked the markets because of concerns that it’s all probably going to come from debt aka borrowing, and of course, her competence immediately went under questioning.

…And She Fired The Black Man 

Because of savage criticism, Lizzy Baby has now fired her finance minister, Kwasi Kwarteng, for creating literally the package of unfunded tax cuts, billion-dollar spending and deregulation that she had asked for.

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She has also partly reversed the previously announced tax cuts, vowing to raise corporate tax rate by £18 billion ($20 billion)

Why Did This Raise Blood Pressures So Much?

Without getting too technical, think about this: In this current world of rising inflation, if the government pumps billions into the economy, it will likely further price increases i.e. more inflation & the Bank of England may need to raise interest rates even higher to control the inflation that is already running at a near 40-year high of 9.9%.

Where Do We Go From Here? In Tomi’s Voice

It’s really quite unclear what the future holds for the Truss’ tenure, as well as the economic stability of the almighty Britain but amidst all these, Tomi will continue to monitor the situation closely & let you in on developments as they unfold.

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FB - Twitter Search / Twitter

I know some of you are probably thinking: Mark, please rest. Because you were on the forefront of a Facebook world doesn’t mean you’d be the TitTok Prince & who knows what’s next with social media! Rest Brother.

Uncle Mark has termed Tiktok as a ‘very effective competitor’ …and you know what that means? *cough cough* Reels vs. Snap Stories

He said he “sort of missed” a newer way people “interact with discovered content” on social media, that content need not be created by your friends and/or family, if the content is enjoyable to you, you’re in on it too. Where is the lie?Zikoko Memes on Twitter: https://t.co/2u7r4mnipY” / Twitter”/>

Not like this is shocking but Meta’s plan to compete with Tiktok is now in it’s prime. Mark says Meta will bring in more content beyond a user’s friends or the people they follow, and tailor their feeds using A.I.

Additionally, Meta (although not solely focused on video content, and still extremely bullish on photos, texts, links, etc.) has realized that a ton of their audience are keen on videos. Even though Meta is sort of a late comer in that area, Zuckerberg now wants to make something new: a “discovery engine” that goes beyond video. He says ““You have a few minutes and you want to discover the best content. Sometimes I want to watch specifically videos, but a lot of the times I just want the best stuff.”

Zuckerberg also confessed that his company has been ″somewhat slow to this because it didn’t fit my pattern of a social thing, it felt more like a shorter version of YouTube to me.”

Tomi be like: “K

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PayPal won't fine users for misinformation posts, policy posted “in error”

In this economic climate, dare I say it could be extremely costly to lose users, especially at the rate that PayPal is.. because 😱Searches for how to “delete PayPal” skyrocketed by about 1,400% worldwide because PayPal released a policy update that said users would have to pay up to $2,500 in damages for spreading misinformation. Social media went ballistic upon this info dissemination.

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…and it looks like this is back-tracking season because PayPal has since called the policy update “an error.” Google searches spiked for both “delete PayPal” and “cancel PayPal” earlier this week from the backlash.

“An Acceptable Use Policy (AUP) notice recently went out in error that included incorrect information. PayPal is not fining people for misinformation and this language was never intended to be inserted in our policy. We’re sorry for the confusion this has caused,” said a PayPal spokesperson.

Many took to social media with hashtags like #PayPalCancelled trending on Twitter. Needless to say, PayPal stocks headed downwards after news of the policy update.

Trust that your boy, Elon, would never be missing in action – he equally slammed PayPal for such policy.

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…And there you have it!

It’s a wrap!

What are you waiting for?!?!

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Your dearest and favorite Stocks Market Gist Partner,

Tomi, From Trove 🖤

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