Meta's Stock Crash, Peloton's New CEO, & The NFT Scandal
In this episode, Shamus Madan discusses the effect of Apple's privacy changes on Facebook's revenue and the historic impact of Facebook's market cap loss. He delves into Chainalysis data and fraud in the NFT industry, offering NFT investment tips. Shamus also analyzes the value of Board Apes NFTs and discusses Peloton's leadership changes. The episode wraps up with a promotion for the Milestone's Motivation and Money podcast.
Key Points
- Meta's stock plummeted due to a combination of factors including a projected $10 billion revenue loss from Apple's privacy changes, the mention of TikTok as a significant competitor in their earnings report, and a decrease in user numbers for the first time.
- Chainalysis data reveals that some NFT price surges are artificially inflated by the same wallets conducting repeated transactions, highlighting the importance of thorough research before investing in NFTs and the value of long-term community, reputable founders, and physical components in these assets.
- Peloton's former CEO John Foley stepped down to become Executive Chairman, while Barry McCarthy, formerly of Spotify and Netflix, took over as CEO with intentions of a "comeback story," suggesting a commitment to reviving the brand rather than selling the company.
Hello everyone, and welcome to MBIT, I am your host, Shamus Madan. Today we will be discussing the reason why Facebook has lost a quarter trillion dollars in market cap, and data collected by Chainalysis uncovering a little-known secret in the NFT industry.Disclaimer: The podcast is not financial advice, not a research report, and not a recommendation to buy or sell any NFTs or crypto.Twitter of Host: @mbitpodcast
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Transcript
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