Whiskers: The Enchanted Cat
~1.5 mins read
Once upon a time, in a quaint little village tucked away in the countryside, there lived a rather peculiar cat named Whiskers. Now, Whiskers wasn't your ordinary feline; he had a knack for getting himself into all sorts of magical mischief.

You see, Whiskers had stumbled upon a dusty old book in the attic of his owner's house, filled with spells and enchantments. Being the curious cat that he was, Whiskers couldn't resist trying out a few spells for himself.

One day, as Whiskers lounged lazily in the sun, he decided to try out a spell he found in the book that promised to grant him the ability to speak like a human. With a flick of his tail and a meow of determination, Whiskers recited the incantation.

To his surprise, the spell worked! But there was just one tiny problem—Whiskers couldn't stop talking. From dawn till dusk, he regaled anyone who would listen with tales of his adventures and musings on the mysteries of the universe.

At first, the villagers found Whiskers' newfound ability amusing. But as the days wore on and Whiskers' incessant chatter grew louder and more relentless, they began to grow weary of his antics.

Soon, the once peaceful village was in chaos as Whiskers' non-stop talking disrupted markets, scared away birds, and even caused a commotion at the local fishmonger's stall.

Desperate to restore peace to the village, the villagers sought out the village witch for help. With a twinkle in her eye and a wave of her wand, the witch cast a counter-spell to silence Whiskers once and for all.

In an instant, Whiskers found himself unable to utter a single word. But far from being upset, Whiskers was relieved. Finally able to enjoy the peace and quiet, he happily went back to his old ways of napping in the sun and chasing mice.

And so, the village returned to its peaceful ways, with Whiskers the enchanted cat becoming a beloved legend, known far and wide for his mischievous antics and his uncanny ability to talk his way into—and out of—trouble.
Americans Still Moving Out Of Bigger Cities At Higher Rate Than Pre-Pandemic
~1.4 mins read

Americans are still moving away from the biggest cities across the country, continuing a trend that began with the rise of remote work during the pandemic, according to a new report analyzing Census data by analysts at Goldman Sachs (GS).

Counties in the highest tier of urbanization, in or near cities with 1 million or more residents, recorded average population growth about 1% below pre-pandemic levels from 2019 through mid-2023, the analysts noted.

While those counties had "started experiencing modest net domestic out-migration of about 200k on average in the three years leading up to the pandemic," the analysts wrote, an estimated 750,000, 650,000, and 550,000 domestic migrants left the biggest U.S. cities in each of 2021, 2022, and 2023, respectively.

The report said that stronger population growth outside the largest urban counties has meant somewhat faster house-price appreciation relative to pre-pandemic trends when compared with the most urban counties.

The post-pandemic migration trend is likely connected to changes in housing preferences—more people say in surveys that they would prefer larger, more spread-out homes—though the trend toward larger homes is longstanding in the U.S.

Thanks to the rise of remote work arrangements during the pandemic, millions of Americans fled large cities for other areas with lower costs of living, and new Census data discloses that that trend hasn't slowed or reversed to the degree many thought it would after pandemic restrictions were lifted.

After nearing 50% of Americans working remotely at the height of the pandemic, the level has plateaued to the mid-20% range, yet still about 10 times as high as the 2% to 3% of Americans who did so before the pandemic.

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Stanley Druckenmiller Bet On Biotech, Financial Services In Q1, Trimmed Nvidia Stake
~2.5 mins read

Billionaire Stanley Druckenmiller's Duquesne Family Office took on new positions in Apple Inc. (AAPL), Reddit Inc. (RDDT), and a range of biotech and financial services companies in the first quarter of the year, according to a recent 13-F filing.

Druckenmiller took a very active approach in the first months of the year, entering more than three dozen new positions. His bets on Apple and Reddit are most noteworthy because of the attention investors pay to the companies themselves, though the size of each position is relatively small. Druckenmiller ended the quarter with almost 115,000 shares of Apple and 175,000 shares of Reddit.

Large new holdings for Druckenmiller include semiconductor maker Coherent Corp. (COHR) with about 2.5 million shares; energy infrastructure firm Kinder Morgan Inc. (KMI) with roughly 3.88 million shares; scoreboard and LED sign maker Daktronics Inc. (DAKT) with 2.07 million shares; and Cinemark Holdings Inc. (CNK) with 1.07 million shares.

Druckenmiller added a number of biotech firms to his portfolio this last quarter, with new investments in Bicycle Therapeutics PLC (BCYC), Cabaletta Bio Inc. (CABA), Crinetics Pharmaceuticals Inc. (CRNX), Fusion Pharmaceuticals Inc. (FUSN), and Sana Biotechnology Inc. (SANA), among others.

Another batch of new positions lies within the financial services sector. Druckenmiller added stakes in Barclays PLC (BCS), Capital One Financial Corp. (COF), Citigroup Inc. (C), Discover Financial Services (DFS), and KeyCorp (KEY) all in the first three months of the year. The KeyCorp position was 1.66 million shares.

Other notable new additions to Druckenmiller's portfolio included Stellantis (STLA) and Palantir Technologies (PLTR), as well as a small positions in Meta Platforms (META).

The billionaire protégé of George Soros made significant additions to a number of prior positions in his portfolio.

Most notably, he added nearly 5 million shares of database software company ZoomInfo Technologies Inc. (ZI), more than 1 million shares of genetic testing firm Natera Inc. (NTRA), and about 2.8 million shares of electronics maker Flex Ltd. (FLEX).

He also added to his positions in Marvell Technologies (MRVL) and Freeport-Mcmoran (FCX).

Duquesne Family Office adjusted the size of many of its preexisting holdings in the first quarter. Notably, Druckenmiller trimmed his position in Nvidia Corp. (NVDA) by about 900,000 shares, ending March with about 176,000 shares.

Earlier this month, he told CNBC about paring his Nvidia position as felt that the AI trend was "a little overhyped now, but underhyped long term."

Duquesne also sold off almost 483,000 shares of uranium producer Cameco Corp. (CCJ), and large portions of his stakes in Option Care Health Inc. (OPCH) and Eli Lilly (LLY), among others.

Druckenmiller's exits for the quarter include DraftKings Inc. (DKNG), Warby Parker Inc. (WRBY), and mining outfits Barrick Gold Corp. (GOLD) and Newmont Corp. (NEM). He also entirely sold off the small positions he held in Adobe (ADBE) , Chevron (CVX), UBS (UBS) and Charles Schwab (SCHW).

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How Reddit Makes Money
~3.3 mins read

Reddit Inc. is a social media website that enables users to form online communities, share ideas, photos and videos, post the latest trends and breaking news, and vote on content posted by other users. The website is known for its discussion forums, including its popular "Ask Me Anything" format.

Reddit makes money by selling advertising space and from an optional premium membership plan that allows users to turn off ads and enjoy other benefits. Reddit also earns revenue from data licensing and various products in the user economy.

Reddit is a social media website that provides users with a network of communities whose users post news stories, images, videos, and links. A user's standing within these communities is determined by the content they share and its evaluation by other users. Reddit also is well known for its online discussion forums on politics, entertainment, and other topics such as r/Cryptocurrency. Reddit faces a long list of competitors, including Meta Platforms Inc. (META, formerly Facebook Inc.), X Corp. (formerly Twitter, Inc.), and Google parent Alphabet Inc. (GOOGL). Some lesser-known competitors include Digg, Tumblr, Quora, 9GAG, and Gizmodo Media Group.

Reddit was valued at $10 billion in its series F round of funding, which took place in August 2021. The company raised another $410 million in that round, which was led by Fidelity Investments. Reddit was valued at $6 billion after raising $250 million in its prior funding round in February 2021. Reddit previously received investments from Tencent Holding Ltd. (TCEHY), Sequoia Capital, Fidelity, Tacit Capital, and Snoop Dogg. Reddit has raised about $1.3 billion in total funding to date.

The company boasts over 82 million daily active users and more than 16 billion posts and comments on its website.

The San Francisco, California-based company was founded in 2005 by Steve Huffman and Alexis Ohanian. The two were college roommates and founded the company soon after graduating from the University of Virginia. Reddit was acquired by Condé Nast Publications in 2006 and was subsequently spun off into an independent company in 2011.

Huffman is Reddit's current CEO and serves as one of the company's board members. Ohanian stepped down as a board member in June 2020, and asked that he be replaced by a Black candidate. Reddit subsequently named Y Combinator CEO Michael Seibel as Ohanian's replacement.

in February 2023, James Rogozinski, who founded the WallStreetBets subreddit responsible for the meme stock craze of 2020, accused Reddit of trademark infringement and breach of contract for removing him as a moderator in April 2020, according to . Reddit had accused Rogozinski of "attempting to monetize a community." Reddit issued a statement calling Jame Rogozinski's lawsuit "frivolous" saying it was "another transparent attempt to enrich himself."

On March 5, 2021, Reddit announced the appointment of Drew Vollero as the company's first chief financial officer (CFO). Vollero has more than 30 years of experience leading finance functions at different companies in order to position them for growth. He previously worked as CFO at Allied Universal and he also served as Snap Inc.'s (SNAP) first CFO.

The new appointment came as Reddit explored the possibility of going public. CEO Steve Huffman told the Wall Street Journal that the company was exploring an initial public offering (IPO). Reddit filed IPO paperwork in 2021, but postponed the event.

As a private company, Reddit isn't required to publish its financials, as publicly listed companies must. However, it did report quarterly advertising revenues of $100 million in the first quarter of 2021.

Reddit has been raising funds ahead of a projected IPO in 2023, gathering a total of $1.3 billion in investments. The company was valued at $10 billion after its series F funding round in 2021, but some estimates put it closer to $6 billion in 2023.

Reddit's main revenue stream is advertising sales. It also offers premium subscriptions.

Since its founding in 2005, Reddit has grown to reach millions of active users, bringing in revenue from ad sales as well as premium memberships and other initiatives. As a social media company, it doesn't have the reach of competitors like Facebook or X, but it's still one of the top 10 most-visited websites in the world.

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Lady Sl@ms Her Man For Sending Her Just N20k When She Was Sick And Brok€
~0.3 mins read

A lady has expressed her disappointment with her man after he sent her N20,000 while she was anticipating for N200,000 when she complained about being sick and broke.

She lamented about how she felt insulted by the amount of money he sent to her because according to her it cannot meet her basic needs.

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Actress Queen Wokoma Reacts After Being Crit+cized Over Her Outfit To Jnr Pope’s Funeral Ceremony
~0.5 mins read

Nollywood actress Queen Wokoma has reacted to the backlash she received over her choice of outfit to her late colleague, Junior Pope’s funeral

Recall that the actor, who died last month, has been laid to rest in his hometown in Enugu State. As expected, some of his colleagues had stormed the burial to pay their last respects to the talented actor.

On her Instagram page, Queen Wokoma has shared photos of herself and some of her colleagues at his funeral. The actress had worn a short black gown, leggings and a jacket. Her outfit to the funeral didn’t sit right with netizens who mercilessly dragged her.

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