The Largest Fraud in history ⚠️
This Week in Review☕️: The Worlds Third Richest Man in the spotlight | Tiffany & co. and Nike collaborate on new sneaker | Brick and mortar has been tough for retailers | F1 wants women in their cars |
This Week’s Digest💡: The Newsette
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Quick Bites:
Fashion💍: No more rough mornings for sneaker fans as they wait for sunrise, their morning expresso and the new Tiffany x Nike Air Jordans!
Tiffany & Co. teased Nike collaboration on Instagram yesterday; both companies shared a shoe box in Tiffany’s signature robin’s-egg blue emblazoned with Nike’s swoosh logo. “A legendary pair,” it read.
They say luck happens when preparation meets opportunity. Wrong. Getting lucky snapping up the latest kicks happens when you use the right cookies, a powerful sneaker bot and the eye of a hawk.
Fire up that waitlist guys!🤞🏻
The American jeweller has shaken up its marketing since LVMH acquired the company in 2019.
Last year, Tiffany shot an ad campaign starring Beyoncé, Jay-Z, a 128-carat diamond and a rarely seen Basquiat- all together in a kind of modern-day remake of “Breakfast at Tiffany’s”, which took the internet by storm.
Tiffany also teamed up with Supreme recently, as the convergence of streetwear and luxury brands hits an all-time high.
Images of the "Nike Air Force 1 Low" show that the sneakers will be in a luxe grey suede material with a pebbled leather swoosh in Tiffany blue.
The kicks will retail for $400, according to HypeBeast.
Just an idea on the top of our head. Make these kicks in white so brides can have a little "something *Tiffany* blue" at their wedding? Rage all night AND be comfy af! 🙌🏻
Let's be honest ladies💡: Stilettos look great n all but it can be murder standing in them all day😩NOONE wants to see a bride limping down the isle 🙏
Our Thoughts💡: Tbh, Tiffany hadn't really ventured beyond its classic 'Robin Blue' branding for years now. Needed to be spruced up beyond its name value, especially at a time when trendy fashion has become key for young consumers.
Say what you want but Bernard Arnault knows a thing or two about revamping a fashion house! Collabs like a Basquiat, Carters and Tiffany ménage a trois?
LVMH French money AND creativity just hit different!! 🙌🏻
Business📈: US activist investor Hindenburg Research targets the World's 3rd richest man- Gautam Adani, the founder & chairman of India-based 'Adani Group'.
Hindenburg which focuses on activist short-selling has accused the Indian conglomerate of the "Largest Corporate Fraud in history."
As of a week ago, Gautam Adani was worth more than Bill Gates, Warren Buffet, Elon Musk AND Jeff Bezos. The Indian tycoon was worth over $120 billion (which is more than the GDP of +75 countries FYI) but has lost around $20bn since the allegations
Hindenburg dropped a 106-page, 32,000 word report, prepared over the course of 2 years on the Adani Group.
The report highlights how Adani's 7 companies rose by a record 891% since 2020, adding $100bn to his net worth in the past 3 years itself.
Sounds too good to be true? Right? Well that's exactly what Hindenberg is saying y'all!🙈
Just like Bernie Madoff and Sam Bankman-Fried.. you know the famous saying- if it walks like a duck, looks like a duck and quacks like a duck, it's a......... F**KING DUCK!🦆🦆🦆
Background:
💡Hindenburg Research is known for finding corporate fraud and placing high-profile bets, hoping to make a profit
💡It claims its main aim is to look for "man-made disasters" such as accounting irregularities and mismanagement
💡The company invests its own capital
💡It is most famous for its bet against electric truck maker Nikola Corp in 2020 which was a "big win" for the company. Nikola's valuation dropped from $34bn to $1bn in a year and its founder was convicted of fraud
💡Hindenburg's founder- Nathan Anderson has publicly said that 'Harry Markpolos', an analyst who first flagged Bernie Madoff's Ponzi scheme, is his "role model"
Our Thoughts💡:
Key Facts:
💡Fact #1: Adani is (was) the 3rd richest man in the world
💡Fact #2: BUT he is not among the top 10 tax payers of India
💡Fact #3: Tax Evasion is a serious crime in India
💡Fact #4: There will be no legal action against Adani
Welcome to India
PS. How we're gonna sleep tonight knowing we have no Adani Group stock in our portfolio👇🏻
Big Tech🌱: Amazon Fresh shuts down in London.
The future of the checkout-free technology called "Just Walk Out" looks bleakas physical stores become most vulnerable to cost-cutting.
Bezos shutting down stores after he shut down all the non-Amazon stores lmao
PS. Dude's finally realizing what we've known all along- Food is a labor of love, not profit❤️
The company is hitting pause mainly due to disappointing sales and a bleak economic outlook.
Most existing Fresh stores had fallen short of sales projections while the costs of building this technology is much higher, The Times reports.
Tbh, the brick and mortar business has been a tough nut to crack- even with a fast, frictionless way to shop such as the "Just Walk Out" technology.
Online shopping has instead led to a more personalized experience for customers.
Grocers have seized this opportunity via personalized recommendations, combined with powerful AI algorithms, leading to increased sales via targeted marketing.
Our Thoughts💡: Personally we could care less about Fresh retail stores as long as we got Amazon Prime.
Enroute home after 5 hours spent getting our wisdom teeth removed. Our Prime cart is is filled with Yoghurt, Pudding, Jello, Sherbet and Ben & Jerrys Cookie Dough🍦
Should be home by the time we get in and we're NOT complaining🙏
Sports🏁: Calling all female grease monkeys! Formula One wants women in the cockpit for the first time.
Only 5 women have competed in F1 with the last one being Lella Lombardi in 1976, Bloomberg reports.
This year they’re introducing the F1 Academy, a training program for women; “We will prove that female drivers have what it takes to compete at high levels.”
Key Highlights:
💡There will be 15 cars across 5 teams in a 21-race season
💡The academy will receive $156,000 per car from F1. Drivers must also contribute the same amount with their own money or through sponsorships
💡F1 says it will also feature an academy race at a Grand Prix in 2023 itself
💡Likely candidates are all young (teens or in their early 20s) and mainly from Europe
According to Bloomberg, Candidates most likely to race are:
💡Maya Weug: 18-year old, Dutch, became the first female member of the prestigious Ferrari Driver Academy in 2021
💡Doriane Pin: 18-year old, a French go-karting champion who won the Ferrari Challenge in 2022
💡Jessica Hawkins: 27-year old, British, is another contender. Most known as the stunt driver for the James Bond movie 'No Time to Die'.
💡Abbi Pulling: 19-year old Brit, who last year became the first woman to drive an F1 car in Saudi Arabia
💡Marta García López: 22-year old, Spanish go-karting ace
Quicker Bites:
Biden will end Covid-19 emergency declarations in May after more than three years.
Vancouver plans to decriminalize hard drugs.
China’s ‘Baidu’ to launch a chatbot similar to ChatGPT.
Pakistan reels after terrorist bombing kills almost 100, fears more to come.
Southern US ice storm prompts cancellations of more than 800 flights.
Phoebe Dynevor reveals she will not be in Season 3 of ‘Bridgerton’.
Louis Vuitton crossed a record $20 billion in sales in 2022.
Alphabet and Microsoft lay off 12,000 and 10,000 workers respectively.