Thelasko shares a report from The Wall Street Journal: Administering Covid-19 vaccines comes with a valuable perk for retail pharmacies: access to troves of consumer data. Chains such as CVS Health Corp., Walmart Inc. and Walgreens-Boots Alliance, Inc. are collecting data from millions of customers as they sign up for shots, enrolling them in patient systems and having recipients register customer…
Tag: Wall Street
Bill Gates Questions Societal Value of ‘GameStop’ Mania, Argues It’d Be ‘Good to Get Rid of’ Bitcoin
The price of bitcoin — now over $57,000 — has nearly doubled in the last 7 weeks. Even Elon Musk tweeted that its price seems high — though one analyst tells Bloomberg that Tesla has already made a profit of nearly $1 billion from its recent Bitcoin investment, more than it earned selling electric cars in all of 2020. Yet speaking…
New York Sues To Shut Down ‘Fraudulent’ Coinseed Crypto Platform
New York’s attorney general filed a lawsuit on Wednesday to shut down the cryptocurrency platform Coinseed for allegedly defrauding thousands of investors, including by charging hidden trading fees and selling “worthless” digital tokens. From a report: Attorney General Letitia James said Coinseed traded cryptocurrencies such as bitcoin without registering as a broker-dealer, and sold “CSD” tokens without authorization to raise money…
Facebook Blocks All News In and From Australia
Facebook said Wednesday that it would no longer allow Australian publishers to share news on Facebook or allow Australian people to view or share international news sources. From a report: The change comes as Australia prepares to pass a law that would require companies like Facebook and Google to pay news publishers to carry their stories. “The proposed law fundamentally misunderstands…
Two WHO Team Members Dispute Report China Wasn’t Cooperative for Covid-19 Investigation
Friday the New York Times (following up on reports from the Wall Street Journal) wrote that China had “refused to hand over” important raw data to a 14-member World Health Organization team investigating the origins of the coronavirus, reporting that “their Chinese counterparts were frustrated by the team’s persistent questioning and demands for data.” But Saturday two of those 14 team…
‘We Need to Inflict Pain’: Mark Zuckerberg’s War on Apple
When Tim Cook told an interviewer that Apple wouldn’t get in a Facebook-style data-collection controversy, “Mr. Zuckerberg shot back that Mr. Cook’s comments were ‘extremely glib’ and ‘not at all aligned with the truth,'” reports the Wall Street Journal. But “In private, Mr. Zuckerberg was even harsher. ‘We need to inflict pain,’ he told his team, for treating the company so…
The Rich Got Richer: GameStop’s Trading Frenzy Benefited Wall Street’s Elite
While GameStop’s surge has been heralded as a victory for underdogs, “Growing evidence casts doubt on the idea that the episode mostly benefited small-time investors…” reports the Washington Post. (Alternate URLs here and here “And, in at least some cases, novice investors lost their shirts.” Giant mutual funds that own the largest stakes in GameStop saw the biggest gains in value….
Facebook Blames ‘Technical Issues” for Its Broken Promise to the US Congress
Facebook is blaming “technical issues” for its broken promise to the U.S. Congress to stop recommending political groups to its users, reports The Markup: Facebook made the pledge once in October, in the run-up to the presidential election, and then falsely reiterated it had taken the step after rioters overtook the U.S. Capitol on Jan. 6, a deadly event partially coordinated…
Government Agencies Begin Investigating Robinhood, Reddit Over GameStop Stock
An anonymous reader quotes a report from CNET: GameStop’s stock price shot through the roof in late January thanks to traders on Reddit. Now at least two government agencies are reportedly investigating why it happened as well as what roles Reddit and trading app Robinhood played in the stock market craziness. The Department of Justice’s fraud section and the San Francisco…
Wall Street Fund Wants To Hire r/WallStreetBets Users To Help Pick Meme Stocks
An anonymous reader quotes a report from Gizmodo: Cindicator Capital is the kind of investment fund that relies on software and algorithms to model investment strategies based on any number of disparate factors. In the wake of the WallStreetBets subreddit throwing hedge funds into chaos and driving stock prices to non-sensical extremes, Cindicator has posted a job listing on LinkedIn hoping…