Reddit's Market Squeeze | Fintech’s Gold Rush: Who’s Next? | Where Remote Working Works

Plus: How CEO-For-Hire Frank Slootman Turned Snowflake Into Software's Biggest-Ever IPO

Good morning.

As dust begins to settle over the GameStop rally, Wall Street veterans reflect on the a week that shook markets, and their foundations. We’re also looking into what could be fintech’s next $100 billion-dollar startup, and we’re tracking which companies have made the shift to remote working permanent.

In The News Today

Myanmar is back under military rule as the country’s de facto leader Aung San Suu Kyi and other officials were detained, and a state of emergency imposed for a year. 

Robinhood CEO Vlad Tenev rejected claims of impropriety between hedge fund Citadel and financial regulators as “conspiracy theories” in an interview with fellow billionaire entrepreneur Elon Musk.

Top Take-Aways

Anyone who’s followed the so-called “Wall Street versus Main Street” story last week may still be feeling somewhat shell-shocked—these investment veterans take stock of the epic short squeeze that threatened market stability. In this companion piece, some of the most respected market minds and practitioners offer their perspective and predictions.

Donald Trump’s tendency to inflate figures is reflected in his business—a close look at the Trump Organization’s website reveals various inconsistencies between what it is claimed about the size of its properties and the reality on the ground.

Irish deputy prime minister Leo Varadkar promised Facebook content moderators to investigate working practices at the social media giant after they met with him to voice concerns about unsafe working conditions.

Riding the wave of bitcoin’s 300% rise last year, cryptocurrency trading platform Coinbase is slated to become fintech’s next big initial public offering. Some investors think it could hit a $100 billion valuation.

Greenhouses and related food tech have raised more than $1 billion in the past five months alone. Among the startups eyeing a three-comma valuation is AppHarvest, slated to go public this week via a SPAC merger.

Can someone contract Covid-19 twice? Anecdotal evidence suggests that’s the case, but efforts to track reinfections are limited at best, potentially hindering understanding of how long immunization lasts, and how the pandemic can be brought under control.

Roughly half of U.S. professionals believe their companies will allow them to telecommute at least part of the time after the pandemic—these are the companies that have already decided to make remote working permanent. 

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In a historic ruling against the oil giant Shell, a Dutch court has sided with four Nigerian farmers in finding Shell’s Nigerian subsidiary responsible for four out of six pipeline leaks covered by the lawsuit, as well as declaring that the parent company, Royal Dutch Shell, had violated its duty of care.

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