Source: Twitter’s U.S. Ad Sales Plunge 59% as Woes Continue
Summary
Twitter’s US advertising revenue for the five weeks from April 1 to the first week of May was $88m, down 59% from a year earlier, despite Elon Musk’s assertion that “almost all advertisers have come back”. An internal presentation also predicts that Twitter’s ad revenue for May will be down at least 56% each week compared with the same period last year.
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Source: Phoronix.com Turns 19 Years Old For Covering Linux Hardware, Open-Source News
Summary
Phoronix.com celebrates its 19th anniversary, highlighting its history, growth, and contributions to the Linux community. Linux hardware support has dramatically improved over the years, thanks to massive optimizations and investment from companies such as Intel, Google, and IBM, among others. However, the web ad industry remains a challenge, and Phoronix.com relies on people’s subscriptions to continue producing original content.
Facts
Source: Signs of de-dollarisation emerging, Wall Street giant JPMorgan says
Summary
JPMorgan strategists say signs of de-dollarisation are occurring in the global economy caused by US interest rate hikes and sanctions against countries such as Russia, making bricks nations –Brazil, Russia, India, China and South Africa- challenge the dominance of the dollar. However, JPMorgan believes the dollar’s long-held dominance is expected to continue.
Fact
💲 88% of traded currency volumes is in dollars, while the euro’s share has shrunk to a record low of 31%. 💲 The share of the Chinese yuan has risen to a record high of 7%.💲 For global exports, the US share is now down to a record low of 9%, whereas China was at a record high of 13%. 💲 In global central bank FX reserves, the dollar’s share is down to a record low of 58%.
Source: Spotify lays off 200 employees, or about 2% of its workforce
Summary
Spotify is laying off 200 employees, about 2% of its global workforce, as it pivots to a new strategy to better support its podcasters. The company’s spending in the last three years on acquisitions in the podcast space amounts to 493 million euros, and it also entered into sponsorships with celebrities such as Meghan Markle and Joe Rogan.
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