Apparently Threatening To Kill Someone Over FaceTime is Still a Death Threat: The Abridged Story of Fetty Wap.

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May 25, 2023

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The Market

Congratulations to NVDA 0.00%↑ for absolutely slaying earnings and solidifying AI as a legitimate theme/sector. Those of you who lotto played earnings, my hat is off to you.

My eyes are on QQQ 0.00%↑ today.

Stock spotlight: Nvidia shot up in after-hours trading after revealing that it had surpassed revenue expectations thanks to soaring demand for its chips, which are notably needed for AI. The company has added more than $220 billion to its market cap this year—that’s the value of more than one whole McDonald’s Corp. - The Morning Brew

Market capitalization is essentially the number of outstanding shares multiplied by the current share price. Read a longer definition here.

Of Note:

Twitter Meltdown on the Public Stage

As a frequent Twitter Space user, I found this entire article interesting. It’s true that Twitter spaces are fraught with technical issues, but the spaces themselves are becoming so popular. I personally hope Musk can fix this because my opinion is twitter spaces will soon take a pretty big bite out of the massive and ever growing podcast industry.

It was supposed to be a triumphant moment for both Ron DeSantis and Twitter CEO Elon Musk when the Florida governor officially kicked off his 2024 presidential campaign last night—not with a televised appearance, but with a Twitter Spaces event featuring the entrepreneur. Instead, it called to mind that time Musk shattered a Tesla Cybertruck’s windows onstage during a demonstration meant to show their strength.
The audio-only event was marred by repeated technical glitches because Twitter’s servers couldn’t handle the more than 500,000 attendees listening in. At one point, the original webcast was ended and a new one was started (with fewer listeners making it in), but tech issues persisted even after that, making the world’s second-richest person look about as competent as Roman Roy.
And while half-a-million listeners sounds like a lot, it’s pretty paltry compared to the millions of viewers Fox News averages daily—plus, Fox has video. Still, given how the announcement played out, it may be better for DeSantis that only 250,000 people ultimately tuned in to the restarted event.
Before the debacle, some were ready to proclaim Musk the usurper of Rupert Murdoch’s conservative media throne. It made sense: While right-wingers have recently slammed Fox for becoming too liberal for their liking, Twitter has been beefing up its conservative media bona fides:
The Daily Wire, home to polarizing figures like Ben Shapiro and Matt Walsh, says it will bring its podcast videos to Twitter beginning next week.
After being dumped by Fox, Tucker Carlson announced he’d take his show to Twitter.
Musk also reinstated the accounts of Fox News fan favorites Donald Trump and Rep. Marjorie Taylor Greene.
But the server meltdown that caused the glitches proved that Twitter’s not ready to take on Fox and friends just yet.
Bottom line: Musk is working to Make Twitter Profitable Again, but the DeSantis fiasco highlighted the site’s weaknesses. - The Morning Brew

Penny’s Corner: Fetty Wap

I read an article this morning that you’d think was satire if you didn’t know better. Here are the facts:

Rapper Fetty Wap (real name Willie Junior Maxwell II) - known for the song “Trap Queen,” was sentenced yesterday on drug trafficking charges
He will spend 6 years in prison after a guilty plea
During said guilty plea, he had his lawyers emphasize that he was, in fact, not a rat. “He is not cooperating [with authorities], I want that to be very, very clear," his attorney said.
According to court documents, Wap made $5 Million off a legitimate rap career, but turned to drug trafficking when times got tough during covid
The “Trap Queen” rapper was arrested in October 2021 and was accused of obtaining over 100 kilograms of cocaine, heroin, fentanyl, and crack cocaine between June 2019 and June 2020, and transporting it from the West Coast for distribution in Long Island and New Jersey. He later pleaded guilty to conspiracy to possess and distribute 500 grams or more of cocaine. - Source
In August of ‘22, Wap was arrested a second time when he called someone a “Rat” over FaceTime and threatened to kill him.

I rest my case.

It needs to be said

Although it’s been said many times before… Tina Turner was Simply The Best.

In case you missed it

Yesterday I wrote an essay on day trading. Why you start and why you keep going. Read it here.

Penny's Journal

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