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“I can say antisemitic s—- and Adidas cannot drop me”
Those were the words of rapper-cum-fashion entrepreneur Kanye West, who now legally goes by the name “Ye”, as part of a barrage of incoherent antisemitic remarks which you guessed it… subsequently led to him being dropped by Adidas this week.
No matter how inflated your ego may be, words really do have consequences. Ye’s latest fall from grace not only cost him the $1.5 billion Adidas partnership, it also saw him drop off Forbes’ Billionaire List.
Adidas was slow to respond. The company stayed silent for weeks, except on October 6 to say their partnership was “under review”, despite outcries on social media. While the company sat on its hands, anti-semites and white extremists felt emboldened to do more and more outlandish things in public, with real-life consequences.
For Ye, this has been a stunning, self-induced downfall for one of the brashest and most volatile personalities to have graced Forbes’ pages (and a magazine cover). At the time of writing this edition, Ye did not respond to requests for comment.
5 Things We Learned
It was a bad week for tech stocks. Disappointing earnings reports sent the shares of household names including Microsoft and Alphabet (Google) and Netflix downward. Meta (Facebook) stocks are down 71%, making it one of the five worst-performing stocks on the S&P 500 this year. What comes up….
The U.K.’s new Prime Minister is richer than King Charles III. Forbes estimates former investment banker Rishi Sunak is worth $810 million, thanks to his marriage to Akshata Murthy, daughter of one of India’s richest billionaires. Sunak will now earn a ‘measly’ $185,000 a year as Prime Minister.
Netflix is opening a game development studio in Finland. Helsinki is home to some of the world’s best gaming talent, including the makers of Angry Birds, making it a natural choice for Netflix’s latest foray into gaming,
Germany is about to legalize cannabis. Lawmakers approved plans to allow recreational cannabis in Europe’s richest and most populous country. Germany’s health minister Karl Lauterbach said the approach could serve as a model for the whole of Europe.
The world’s first tampon-based at-home screening kit has launched. U.K.-based health startup Daye now offers kits that can detect STIs, infections and even fertility complications with a simple at-home kit. The company made headlines back in 2020 with the launch of its CBD-infused tampons, which in trials showed significant reductions in menstrual-related symptoms.
Apple will ditch the ‘lightning’…