Alarming Disclosures, a Final Farewell, and yet Another Helping of Chicken Soup

You might not own your crypto; goodbye, iPod; and chicken versus chips.
May 11, 2022

The End of an Era. Apple announced they were discontinuing the iPod after 21 years of production. It seems like bidding farewell to something that was so ingrained in our daily lives it should feel more sad, but honestly, we kinda thought Apple discontinued them years ago.

Nobody panic. Coinbase’s Q1 earnings report cautioned in a disclosure that if the company went bankrupt, crypto assets belonging to users could end up as company property. Not one to cause any unnecessary alarm, Coinbase’s CEO followed up with a statement that “there's no risk of bankruptcy right now” and funds are safe. Whew. And to think I felt worried for a minute.

More Sights & Sounds. The CEO of Eddie Bauer is stepping down after a year in the role. Twitter released a web game in an attempt to help all of us commoners understand its privacy policies. Shopify launched an audience building tool this week, called Shopify Audiences. And Faire added to its Series G financing, raising a $416 million extension.

Expanded lawsuit. Nike has a lawsuit filed against StockX surrounding NFTs, and has now added claims of false advertising and counterfeiting to the suit. StockX says Nike’s claim is “baseless.”

From DTC to Wholesale. Allbirds’ CEO has announced the company’s first wholesale partners, Zalando and Public Lands.

Flaves from the Upside Down. Doritos is releasing a 3D Crunch Three Cheese flavor in conjunction with Stranger Things Season 4.

Another Helping of Chicken Soup. Redbox Entertainment has been purchased by Chicken Soup for the Soul Entertainment—yes, the same company known for book titles like Chicken Soup for the Woman Golfer's Soul. The company will assume $325 million in debt from the struggling Redbox. Is this going to become the modern day Feature Films for Families?

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