- THE CEO REPORT
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- Tuesday, May 14
Tuesday, May 14
5 things you missed today
Good Evening,
Here are the 5 things you missed today:
1. ✌🏻 Amazon Web Services CEO is Out
Adam Selipsky, CEO of Amazon Web Services, is stepping down from his role next month after leading the business since 2021. Matt Garman (currently VP of Sales, Marketing and Global Services) will take over as AWS CEO on June 3.
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2. 🤖 Google Announced Lots of AI Updates
Google held its I/O event this year, focusing heavily on Google’s Gemini AI models and how they’re being integrated into apps like Workspace and Chrome, all in an effort to compete with major AI leaders like OpenAI.
3. ✂️ Walmart Cut Hundreds of Jobs
Walmart is eliminating hundreds of corporate jobs and relocating most of its remaining remote staff to its Bentonville, Arkansas headquarters. The decision was made to “facilitate better collaboration, innovation, and move even faster.”
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4. 💛 Bumble Apologized for Ad Fumble
Dating app Bumble’s latest ad campaign tried to attract new users with messages like “You know full well a vow of celibacy is not the answer,” which prompted backlash across social media. They’ve since issued an apology post on Instagram.
5. 🧑🎓 Federal Student Loan Interest Rate Hit Historical High
The U.S. Department of Education announced interest rates on federal direct undergraduate loans will be 6.53% for the 2024-2025 academic year, compared to 5.5% for this year. Rates haven’t been this high in more than 20 years.
Bonus. CEO Tip Of The Day
Write down the root cause of all your stressors and begin to tackle them one by one. Worked for Beehiiv CEO Tyler Denk.
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