Friday, August 2

What you missed today

Author

Max
August 02, 2024

Good evening!

Reporting here from California, the state that every giant company seems to be leaving for Texas lately. 🤠

Here are the 7 things you missed today:

1.  😞 U.S. Unemployment Rate Rose to 4.3%

The U.S. Labor Department released its July report, and it’s… not great. Non-farm payrolls grew by just 114,000, down from the revised 179,000 in June. The unemployment rate is its highest since October 2021, though average hourly earnings increased 0.2% for the month.

2. 👀 Looking to Unlock More Growth?

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3. 😬 Google Cut Its Olympics Ad

Turns out, bullying works. Google has pulled its Gemini AI Olympics ad after public criticism over its bleak use of AI where a dad asks Gemini to help his daughter write a fan letter to US Olympic track star Sydney McLaughlin-Levrone.

4.  🤔 What’s Your Distribution Strategy?

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5. 🔞 U.S. Sued TikTok For Under 13 Data

The Department of Justice is suing TikTok for allegedly allowing kids under age 13 to make accounts without their parents’ permission and collecting “extensive data” on them, violating U.S. child privacy law.

6.  🚚 Chevron Is Moving HQ Out of CA

Oil giant Chevron announced it’s relocating its corporate offices from San Ramon, California – where it’s been since 2002 – to Houston, TX. The move will happen over the next five years and will be its first move outside of California since its founding more than a century ago.

7.  🛢️ ExxonMobil is Bringing Record Crude Production

Speaking of oil giants, ExxonMobile presented its Q2 earnings today with profits and revenues higher than this time last year. But the report also revealed the company is bringing up 4.1 million barrels of oil a day, a record high of oil production.

Bonus. CEO Tip Of The Day

Summer’s a great time to jump into a book. But you might not be making the most of the books you’re reading. Here’s how to read a business book and get the most value from it.

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