Bezos’ exit, Robinhood IPO, SpaceX glass dome

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Jeff Bezos wearing a suit and tie: Outgoing Amazon CEO Jeff Bezos. Alex Wong/Getty Images


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Outgoing Amazon CEO Jeff Bezos. Alex Wong/Getty Images

Quick programming note: We’ll be off on Monday for the holiday weekend, but back in inboxes Tuesday.

Let’s get to it.

1. Amazon has updated its famous leadership principles before Jeff Bezos’ exit as CEO on Monday. Amazon’s list of guidelines have been updated to include two new ones, including “strive to be Earth’s best employer.” This hints where new CEO Andy Jassy could be headed.

2. Robinhood publicly filed its highly-anticipated IPO documents. The filing gives the first proper look at the financials of the popular investing app. Plus, here’s what we know about the shareholders standing to make a fortune.

3. Amazon has discussed forming a ‘Rebel Alliance’ to compete with Microsoft. The goal would be to partner with software makers to offer a bundle of business apps for a single price. Inside Amazon’s ‘Star Wars’-esque talks with Dropbox, Slack, and others.

Video: Jeff Bezos Announces He Will Go to Space (Money Talks News)

Jeff Bezos Announces He Will Go to Space

  • a person standing in front of a store
    Jobless Claims Show Surprise Increase to 412,000
    Jobless Claims , Show Surprise Increase to 412,000. The Labor Department’s unadjusted data was released on Thursday. It showed an uptick of nearly 37,000 first-time unemployment claims from 375,000 the previous week. The two states that accounted for the majority of the increase were California, with 15,712 added claims. and Pennsylvania, with 21,590 added claims. Factors related to the pandemic, such as caregiving needs, ongoing fears of the virus, and unemployment insurance payments appear to be weighing on employment growth, Jerome Powell, Former Fed Chairman, via CNBC. These factors should wane in coming months against a backdrop of rising vaccinations leading to more rapid gains in employment, Jerome Powell, Former Fed Chairman, via CNBC. The total number of those who applied for jobless benefits last week, including continuing claims, did fall by close to 500,000. Many states have already halted or added more qualifications for pandemic-related assistance, which likely contributed to the overall decrease

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    Money Talks News

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    US Housing Crisis Worsens as Millions Fear Eviction
    US Housing Crisis Worsens, as Millions Fear Eviction. ‘Time’ reports that 4 million people say they fear being evicted or foreclosed upon in the coming months. The news comes as a federal eviction moratorium is set to end on June 30. The Biden administration faces pressure from housing advocates to extend it. They argue that states need time to distribute over $45 billion in rental assistance, . which has been slow to reach tenants. Two studies released on June 16 suggest that the housing crisis is expected to worsen in the wake of the pandemic. The crisis risks widening the economic gap between Black, Latino and white households. . It also threatens to put homeownership out of reach for lower-income families. . The latest data confirm two things, emergency rental assistance is very slow to reach renters in need, .., Diane Yentel, president of the National Low-Income Housing Coalition, via ‘Time’. … and millions of renters remain behind on rent and at heightened risk of evictions, Diane Yentel, president of the National Low-Income Housing Coalition, via ‘Time’

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    Money Talks News

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    50 Million Americans Hit by ‘Record-Breaking’ Heat Wave
    50 Million Americans Hit by ‘Record-Breaking’ Heat Wave . A “dangerous” heat wave is hitting the western United States. . An estimated 50 million Americans are being impacted. . Excessive heat warning and advisories have been put in place for Utah, Arizona, Nevada and California. . According to the National Weather Service, the heat wave has already tied and broken several “all-time records.” . Dangerous and record-breaking heat to continue across portions of the West and Central Plains … A few monthly and even all-time records have already been tied/broken this week associated with the current stretch of heat, National Weather Service, via ‘The Hill’. Utah’s Salt Lake City hit 107 degrees, a high that has only been hit once before in the last 147 years. . The heat wave, paired with windy conditions, also poses an increased risk for drought and fires in several areas. . Fire weather will remain active across the West today and tomorrow. Dry and windy conditions will lead to several areas of elevated fire weather, National Weather Service, via ‘The Hill’

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    Money Talks News

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4. A Tesla owner sued the EV giant, claiming it broke its promise of free Supercharging for life. The lawsuit says Tesla promised free charging to buyers of most of its early models, but later introduced fees for when fully charged cars are left at Supercharger stations. More on that here.

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5. Uber, Tesla, and Rivian are locked in a war for talent. Insider has analyzed salary data from some of the top transportation-tech companies. This is what these companies are paying their employees.

6. SpaceX’s first civilian crew will have ‘one hell of a view’ from the spaceship’s toilet in a new glass dome. SpaceX could launch the world’s first all-civilian crew into orbit as soon as September. Take a look at the glass dome here.

7. Mark Zuckerberg faces harsh criticism from the White House over vaccine misinformation. President Biden’s chief of staff Ron Klain said he’s told the Facebook CEO “directly” about the severity of the problem. More from Klain’s comments, including telling Zuck to “do better.”

8. A new cryptocurrency called baby doge coin surged – after a tweet from Elon Musk. The tweet said, “Baby Doge, doo, doo, doo, doo, doo,” which was, of course, a reference to “Baby Shark.” What to know about the dogecoin spinoff.

9. SoftBank VCs are moving a $100 million fund to Miami. The Opportunity Fund, focused on founders of color, has already invested in several Miami-area startups. Miami’s been much hyped lately, but a SoftBank VP tells us the tech scene there is “real.”

10. Andy Jassy is inheriting Amazon during heightened controversy. The end of the Bezos era could mark a crucial and overdue turning point for the company’s culture. Where Jassy takes the company could cement his legacy – or prove he’s Bezos 2.0.

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