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Tapping Out of Twitter (and Working Out)
Friday, May 12th, 2023
1. Peloton's Seatgate Scandal: How the Fitness Industry is Losing Its Grip (Literally)
This is why we don't workout ladies and gentlemen. Peloton and the US Consumer Product Safety Commission issued a voluntary recall of 2.2 million Peloton Bikes after the company received 35 reports of seats breaking or falling off during use, resulting in 13 injuries. This latest botch has left the fitness company's stock price plummeting 6%. Looks like our glutes and summer bodies will have to wait a bit longer. Shame!
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2. Elon Backing Down
A woman, rumored to be Linda Yaccarino, an NBCUniversal advertising executive, will be taking over as CEO of Twitter in June, and Elon Musk is thrilled about it. In a tweet on Thursday, Musk revealed that he will be stepping out of the role and into the executive chair and CTO positions, overseeing product, software, and systems operations. We're curious to see how this division of labor and collaboration with Elon plays out and wish Linda all the patience in the world come June.
3. Like Monopoly, But in Real Life!
Microsoft's $69 billion acquisition of Activision Blizzard is apparently a sure thing, despite concerns from the UK's Competition and Markets Authority (CMA) and the US Federal Trade Commission. European regulators are expected to give the deal the green light, much to the chagrin of Microsoft's detractors. The UK's CMA has blocked the acquisition, citing fears that it could have a negative impact on the burgeoning cloud gaming market, but Microsoft and Activision didn't take this lying down. They vowed to fight the CMA's decision tooth and nail, labeling it "bad for Britain" and "irrational". Microsoft has even hired a high-powered legal team to lead its appeal, because when it comes to market dominance, nothing is going to stand in its way.
4. Putting a Pause on a Vegan Utopia?
Beyond Meat, the plant-based meat alternative company, has announced disappointing first-quarter earnings, with revenue falling by 15.7% to a paltry $92.2 million, though the company managed to beat expectations of $91.73 million. Beyond Meat has blamed the dismal performance on the continued softness in demand for plant-based meat, which negatively impacted most markets and channels. Despite the Q1 losses, the company remains committed to creating alternatives to traditional meat products, apparently even if they're not particularly profitable. As the saying goes, you can't make a plant-based omelet without breaking a few non-chicken eggs.
5. Google Creates MusicLM, The Next Big Thing In Artificial Mediocrity
Google's latest tech creation, MusicLM, is set to rock the world of music! This AI-powered music generator was unveiled at the I/O conference, and it's been trained on hundreds of thousands of hours of audio to learn how to create new tunes in a range of styles. Users can test out this newfangled contraption by simply typing in a song description and letting the system do its thing. So go ahead and give it a whirl - after all, what could possibly go wrong with an AI generating your next chart-topping hit? We would love to hear the late Queen's rendition of Hotline Bling or Kylie Jenner singing the national anthem.