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The state of social media, by the numbers

Findings from a new Pew Research Center survey on America’s social media use make 2 things clear: Older folks have a thing for Mark Zuckerberg (50% of Americans 65+ are on Facebook) America is obsessed with YouTube The video site towers over the social platforms Among US adults, 81% report using YouTube, up 8% year-over-year. YouTube was the only platform other than Reddit that saw significant growth since 2019. (This is Pew’s...

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H&M, Adidas, and Nike are facing boycotts in China. Why?

Shockingly, it’s not pronounced “ham” (Source: Sean Gallup / Getty Images) The allure of China’s market — which boasts 400m+ middle-class citizens — is nearly impossible for any global corporation to ignore. But selling in China isn’t always an easy affair, particularly when geopolitics gets in the way. On March 22, the EU, US, UK, and Canada announced coordinated sanctions for individuals involved with forced labor camps...

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The ~$6T family office industry, explained

Over the past week, Wall Street has been picking through the implosion of a $10B fund called Archegos Capital Management. A number of highly leveraged bets went sideways and the fund — run by industry vet Bill Hwang — went poof virtually overnight. Per The Wall Street Journal, Hwang is purported to have personally lost $8B in 10 days while 2 global lenders (Credit Suisse, Nomura) are also reporting 10-figure losses. While these...

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US Army eyes the future, awards Microsoft $21.9B contract for AR headsets

You know Microsoft is up to something interesting when its newest gadget feels straight out of “Call of Duty.” This week, the US Army said it’s dishing out a massive contract to the tech company to supply advanced mixed reality headsets for soldiers. It’s not Microsoft’s first foray into national defense: In 2018, the Army landed a $480m deal with Microsoft to build prototypes of the Integrated Visual Augmented System...