1. Canada’s Burnin’ this Mother Down
Yes, it’s true. Canada is now the 2nd country in the world to completely legalize marijuana (Uruguay—who knew) for all uses. All uses meaning one can now turn a hockey stick into a wicked ass bong. Speculation is that perhaps more large economies are to follow. The Canadian marijuana company Canopy just made its debut on the New York Stock Exchange with a valuation of $10B. Other companies are gravitating toward the peace pipe: Corona and Coors are brewing up a “weed-infused” beverage. While most are happy, we are bummed they didn’t announce this on April 20th (4/20).
(Source: The Hustle)
2. eBay and Amazon in a Poaching Lawsuit
Earlier this week, eBay filed a lawsuit against Amazon, accusing the company of using eBay’s internal messaging system to illegally poach third-party sellers for Amazon Marketplace. eBay also states that the damage done by Amazon deserves monetary compensation for the potential loss of sales. According to eBay’s complaint, Amazon sales representatives were sending as many as 120 messages from a single eBay account–without any sale or purchase of a single item. Isn’t there room for more than one player in the marketplace? Amazon surely doesn’t think so.
(Source: The Verge)
3. Dubai-based Uber Company, Careem
Uber has completely overtaken the ride-hailing industry in the Western Hemisphere, but the success has not been matched in the Middle-Eastern region of the world. Overseas, the company has seen trouble (China and Russia, two of the largest countries in the region decided to halt operations) and they are expected to pull out of Southeast Asia as a whole by the end of this year. Enter… Dubai-based Careem, the leader in the ride-hailing arena operating in countries from Morocco to Pakistan. Careem is a six-year-old startup founded by two ex-McKinsey & Company consultants, who knew they could “drive” success focusing on female safety and targeting female passengers as their key audience. They are taking the industry by storm. In fact, Uber operates in 20 countries, while Careem is said to have consumers in 120.