Cathie Wood Won’t Fold | U.S. Truck Convoy Backers | Relocating Ukrainian Tech Workers

Plus: How An NFT Pivot Turned A Tiny Mobile Game Company Into Multi-Billion Dollar Powerhouse

Good morning.

Truck-driving anti-vaccine mandate protests brought Canada to a standstill earlier this month. Now a conservative political action committee wants to import them to the United States. We’re also covering stock picker Cathie Wood’s enduring support for tech stocks despite the downturn, and what American and Israeli companies are doing to protect their Ukraine-based tech workers. Finally, don’t miss this story about how a struggling Australian game maker made a winning bet on NFTs.

In The News Today

Russia’s Defense Ministry claimed more tanks are withdrawing from the border with Ukraine, as tensions flare in the disputed region of Donbass in Eastern Ukraine, which was hit by shelling yesterday.

Digital bank Chime decided to delay its initial public offering until the second half of this year, but it’s still targeting a valuation between $35 and $45 billion.

Top Take-Aways

Inspired by the protests that blocked a key bridge between Canada and the U.S. last week, and have spread to countries such as France and New Zealand, a conservative political action committee is recruiting participants for American truck convoys to demonstrate against Covid-19 lockdowns and mandates.

In recent years, Ukraine provided a hub of tech talent for American and Israeli startups. The threat of military confrontation with Russia has forced those companies to consider evacuation plans for their employees.

As a decline in tech stocks hits investment firm Ark Invest’s flagship fund Ark Innovation ETF, its CEO Cathie Wood doubled down on her staunch bullishness for disruptive technology: "Give us five years," she said.

The omicron coronavirus variant proved more expensive than budgeted for America’s largest employer. Walmart spent $400 million in its fourth quarter on employee paid sick leave, well above the over $100 million it had anticipated.

It’s a good time to be a luxury powerhouse. Earlier this week, LVMH announced record results for 2021, reporting a 44% revenue increase compared to 2020. Rival Kering also saw double-digit growth, propelled by the success of its fashion houses.

U.S. and U.K. tourists are among the 50+ countries whose citizens will need to take an extra step before traveling to Europe’s Schengen zone. Starting spring 2023, travelers will require to register for an online visa waiver. 

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