Food Prices & Frozen Pizza 🍕
This Week in Review ☕️: Netflix Crash causes Chaos | Elon now owns Twitter | Nespresso Capsules and KitKat just got pricier | Venice to charge tourists to enter the city | Covid Cases are on the Rise
Hey guys,
We launched the Touristy Ambassador program recently! A program where all you gotta do is hit up your pals and spread the word!
PS. We're bankrolling this out of our own pocket, so no trips to Capri or free MacBooks yet.
But there'll definitely be cash, prizes & other merch depending on how many users you can get us!
For whoever is keen, Email Us to Get Started!!
Quick Bites:
Entertainment 📺 : Netflix stock crashed 40% over 2 days last week due to loss of subscribers.
The crash further led to "a wave of downgrades" which roughly wiped out $55bn in market cap- its largest daily loss to date, CNBC reports.
Netflix painfully learning that when you gratify 2% of the population at the expense of 98% it doesn't go so well..
William Ackman's hedgefund Pershing Square sold its stake in Netflix after the biggest single-day drop in shares since 2004.
It's now officially the worst performing stock of the year.
The company lost 200,000 subscribers during Q1, when the streaming giant expected to add 2.5mn new subscribers.
Netflix blames password-sharing as a key reason.
Netflix stock tumbles after 1.3bn people in India figure out they can all share the same password lmao
Other reasons Netflix has given on why this has happened:
💡100mn households use their service and don’t pay
💡Growing competition from platforms like HBO, Disney and Amazon
💡Withdrawal from Russia due to its invasion of Ukraine
💡Years of rejecting ad-supported streaming and "being against the complexity of advertising"
Our Thoughts💡:
Netflix: "This is all because of password-sharers"
Us: Ok but what about greenlighting garbage shows like "Girlboss" and "Is it cake"?
Tbh, seems like Reed Hastings is finding any excuse to justify the company's poor performance.
We call it like it is: a last-ditch effort to keep fans invested in TV shows as vaccination rates increase and people finally turn off their screens.
Food 🍫 : Kitkat maker- Nestle hikes prices by more than 5% this year. This is its steepest increase in over a decade.
Gotta love it when a conglomerate worth almost $400bn, with revenue of $87bn last year, decides to hike prices to increase earnings..🤷🏻♀️
The world’s biggest food producer is warning that the rocketing cost of raw ingredients and labor means even more price hikes are around the corner.
Nestle increased the price of everything from its signature Nespresso capsules to DiGiorno frozen pizzas and Purina dog food in Q1, Bloomberg reports.
World Bank President David Malpass has warned that increasing food prices following Russia's invasion of Ukraine could cause a "human catastrophe", Bloomberg.
Our Thoughts💡: Our Nestle dopamine hits lately: KitKat's Chunky Peanut Butter flavor, Haagen Dazs White Chocolate Raspberry Truffle Ice Cream, Friends reruns and riding the subway.
PS. $6 bucks for a basic Nescafe Skinny Cappuccino?! Stay strong millennials 🙏
Environment: It was Earth Day this past weekend on April 22. While the day is gone, we can make Earth Day everyday by being the change we wish to see.
Because, remember #YouHaveThePower !
Coming just weeks after the UN's stark warning that we must act "now or never" to control the climate crisis, Earth Day 2022 has accelerated the path towards sustainability.
Whether as small as buying only what we will use and avoiding disposable products to influencing entire industries, every action counts.
Personally, we believe habits are key. The 3 R's are easy and go a long way in being environment-friendly:
💡Reduce: use fewer resources in the first place
💡Reuse: use the same products lying around the house
💡Recycle: recycle whatever you are unable to cut down on or resue
Our Thoughts💡: Experts say the excess of 'nature' photos on the gram' on Earth Day has created a facade of commitment towards our planet.
This is the time that we prove we have real skin in the game by actually practicing the message we preach.
Real support is a year-long commitment to action. Don't let Instagram fool y'all 👋
Travel ✈️ : Venice is charging tourists to enter the city this summer.
The 'City of Canals' is one of the most visited cities due to its beautiful bridges, gondola rides, famous carnivals and and winding streets by the lagoon.
According to EuroNews:
💡The fee will be upto 10 euros
💡It will start from June for day-trippers
💡The word-first move will be tested for a 6-month period
💡"Day tourists will be invited to book through a website"
Over-tourism is the main reason behind this move; throughout Easter this year, over 125,000 visitors visited the city for just 24 hours, a number is that more than double the resident population, EuroNews reports.
This has impacted locals as Venetians have been moving away because living costs are too high.
However, this rule is not for everyone. Those who stay overnight already pay a tourist tax, so will be exempt.
Quicker Bites:
Twitter accepts Elon Musk’s bid to buy the company for $44bn.
Panic buying in Beijing as fears grow of an imminent lockdown.
Russia accuses NATO of engaging in ‘proxy war’ in Ukraine.
Several countries make masks mandatory again amid surge in Covid-19 cases.
Britain plans to send tanks to Poland in deal to help Ukraine.
US pledges further aid and return of diplomats to Ukraine.
Jane Fonda isn't fazed by being 'closer to death': "It doesn't really bother me."