Wednesday, September 18

What you missed today

Author

Max
September 18, 2024

Good evening!

The news you’ve been waiting months for is finally here…

Here are the 7 things you missed today:

1.  🇪🇺 Google Won Challenge Against $1.7Bn EU Fine

Back in 2019, the EU said Google had abused its lead to prevent websites from using brokers other than AdSense. As a result, many companies filed complaints against Google – one of them being chipmaker Qualcomm. Google challenged Qualcomm’s complaint and won the legal challenge today on a €1.49 billion ($1.66 billion) antitrust fine.

2.  ✉️ CEOs Don't Have Time To Write A Newsletter

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3. 🍾 Fed Issued a Major Interest Rate Cut

Finally, the news we’ve all been waiting for… the Federal Reserve cut interest rates by half a point today, the first rate cut since March 2020. The cut will open doors for lower borrowing costs on everything from mortgages to credit cards.

4.  🎉 Congrats: You’ve Been Accepted

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5. 🫙 Tupperware Is Filing For Bankruptcy

Sounds like the party is over. Plastic food storage company Tupperware has officially filed for Chapter 11 bankruptcy after years of falling sales and dwindling popularity. The brand only began selling in Target stores in 2022, having previously been exclusively sold through direct sales for 78 years.

6.  💵 Amazon Is Upping Warehouse Pay & Perks

In an effort to recruit employees ahead of peak holiday shopping season, Amazon announced its raising wages for its hourly warehouse workers and giving workers a Prime subscription at no extra cost. The base pay for front-line employees will be bumped to an average of over $22/hr (up from $20.50/hr).

7.  📱 Apple iPhone 16 Demand Is Low

So low, in fact, that employees can already buy it with their employee discount, a move that historically has only come several weeks after the release of new models. In the first weekend since its debut, Apple sold around 37 million iPhone 16s – down 13% from iPhone 15 first-weekend sales.

Bonus. CEO Tip Of The Day

Here’s what JP Morgan’s Head of Startup Banking has to say about that ‘Founder Mode’ theory going around: it’s less important to focus on the specifics of founder mode and more on the philosophy of it.

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