$1.9 Trillion Stimulus Milestone | The Reddit Resistance | All Eyes On Super Bowl

Plus: America’s Most Manipulative Billionaire

Good morning.

Are we seeing the last chapter of the meme stock saga? Some Reddit traders won’t be getting off the ride. We also look at the latest blockbuster tech IPO, and report on what to expect from this year’s Super Bowl ads.

In The News Today

Despite decreasing Covid-19 hospitalization rates, Dr. Anthony Fauci encouraged Americans to get vaccinated and follow public health advice as he warned of the risk the U.K variant poses in the U.S.

Vice President Kamala Harris cast a tie-breaking vote in the Senate that paves the way for the passage of a sweeping $1.9 trillion pandemic relief bill—regardless of GOP support.

Top Take-Aways

Robinhood has removed restrictions on trading meme stocks after GameStop and AMC shares dropped this week. Some Reddit traders, however, are committed to staying on the rollercoaster, no matter the cost.

TikTok rival Kuaishou started trading in Hong Kong in the world’s biggest tech IPO since Uber in 2019. The social media app, favored by users in rural China, raised $5.4 billion, reaching a valuation of more than $160 billion—for context, that’s about half of Disney.

Senator Amy Klobuchar, the new head of the Senate’s antitrust subcommittee, has unveiled a proposed bill that would force corporate giants to prove the acquisition of smaller companies would not affect competition as part of the regulatory approval process. 

New business Scribble Ventures, led by Twitter alumna Elizabeth Weil and 30 Under 30 listmaker Annelies Gamble, just closed its first fund of about $42 million with a focus on relatively small initial checks into early-stage startups.

The Super Bowl ads are as crucial to the event as the game itself. While this year’s show will be unlike any that preceded it, most brands are going to deliver what fans want most: something to laugh about. One billionaire, instead, is going to be using his 30-second-slot for a charitable cause.

The football pitch isn’t the only field in which NFL superstar Tom Brady has made huge gains—he’s also a successful real estate player. Here’s a look at Brady’s property playbook.

Canada just extended its cruise ban through February 2022, effectively putting the kibosh on both the upcoming Alaska cruise season and popular “leaf-peeping” sailings from New England up to the Maritime provinces in the fall.

Today's Must Read

In Case You Missed It

The Budweiser ad has been a staple of the Super Bowl advertisement roaster for 37 years. This Sunday, however, the beer brand won’t be showing up on your screens, having decided instead to donate its ad dollars to Covid-19 vaccination efforts.

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