1. Tesla Involved in Mexican Drug Cartel
Tesla has some juicy gossip on top of Elon Musk’s other questionable practices, such as his controversial tweet and past eccentric behavior. Now, Tesla whistleblower Karl Hansen claims Tesla failed to disclose an investigation the company conducted after receiving a tip that an employee had been moving “significant quantities” of cocaine through Tesla’s Nevada Gigafactory “on behalf of a Mexican drug cartel from Sonora Mexico.” In addition to this modern day Breaking Bad scheme, Musk was busy spying on workers though wiretapping devices that were installed in Tesla’s facilities. Tesla’s share price has fallen, wiping almost $6B from the company, and now board members are looking for “senior talent” to help Musk and, hopefully, reduce his 120-hour/week workload.
(Source: The Hustle)
2. Walmart Competes with Amazon
Walmart’s $16B investment in Flipkart is now complete. Walmart takes a 77% share in the company and the investment includes $2B of new equity funding to accelerate Flipkart’s business growth, hoping Flipkart will become the majority owner (it currently holds a 39.5% market share of India’s e-commerce industry). This is Walmart’s biggest acquisition and is the largest mega deal in the Indian retail space. Walmart is ready to fight in the ring against Amazon’s e-commerce market dominance who originally lost the Flipkart acquisition deal. “Let’s get ready to Rumble!”
(Source: Business Today)
3. #1 Box Office Movie
Crazy Rich Asians, a new rom-com, is #1 in the North American box office. Producer Brad Simpson said, “This shows — once again, with emphasis — that true diversity matters. Audiences are tired of seeing the same stories with the same characters. And we have to give people a reason to get off their couch or devices. We have to give them something different.” This is the first Hollywood studio movie with an all-Asian cast in 25 years, and ticket sales hit $34M the first five days (it costs $30M to make the film). About 28% of ticket buyers were Asian (average percent of Asian moviegoers is 10%). Netflix almost beat Warner Bros. for the film rights, however, it was decided it was more important for the film to be seen on the big screens. *snaps*
—
Social mistakes happen all the time, even by bigtime CEOs like Elon Musk. Learn how to correct those mistakes if they happen here.
