Good Evening!
Do you dream of retirement or do you plan on working into your 60s?
Here are the 7 things you missed today:
1. 👗 Etsy Sold Secondhand Clothing Marketplace Depop to eBay For $1.2Bn
One person’s trash is another tech company’s big acquisition. Etsy is selling Depop, a secondhand clothing app popular with Gen Z and millennials, to eBay for $1.2 billion in cash. The deal comes nearly five years after Etsy acquired Depop for $1.62 billion and will allow Etsy to focus on its own marketplace. (TechCrunch)
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3. 💰 OpenAI is Nearing a Deal to Raise $100Bn+ at $850Bn+ Valuation
ChatGPT is getting deeper pockets. OpenAI is reportedly finalizing a deal to raise more than $100 billion at a valuation that could exceed $850 billion. The deal comes as the AI leader burns through cash as it inches toward profitability. (TechCrunch)
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5. 🥇 Amazon Dethroned Walmart in Annual Revenue For the First Time
Good news for Alexa’s parent. Amazon has dethroned Walmart as the company with the largest annual revenue for the first time. While the shuffle is largely symbolic, it exacerbates the retail rivalry between the companies, particularly as Walmart copies Amazon’s alternate revenue stream playbook with marketplace advertising. (CNBC)
6. 🧠 The RAM Shortage is Getting Worse
RAMageddon is ramping up, and there’s no immediate end in sight. The price of RAM has tripled, quadrupled, even sextupled depending on the type of chip, all because AI companies are gobbling it up and most of it comes from just three companies that are prioritizing the money grab… and it might be coming for consumers, too. (The Verge)
7. 🧓 Americans Are ‘Unretiring’ Due to Money
The newest trend? Reentering the workforce. In a new AARP survey, 7% of retirees age 50 or older said they’ve “unretired” and reentered the workforce in the past six months. The main driver? Money. Nearly half (48%) of those surveyed said they need the extra income. (Quartz)
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