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Two tales—one pretend, one achingly actual—dotted information feeds Monday morning. Two tales, so bafflingly foolish of their content material, it is tough to discern which might win (or lose?) in a contest deciding which is the dumbest story of the day.
In one nook, a pretend information story by chance bought picked up by critical information shops, and created a mini-crypto bubble within the course of. In one other, a gaggle of political consultants pivoted to a really area of interest, zeitgeist-chasing model of company consultancy that feels ripped proper out of Veep. We merely cannot resist diving into each.
Dumb And Dumber
Let’s set the stage. On early Monday morning, GlobeNewswire despatched out a press launch saying Walmart had entered right into a partnership with little-known cryptocurrency litecoin. Soon after, professional information sources ran with the story as effectively, and the worth of Litecoin spiked. But there’s one drawback: the press launch was pretend, the partnership was fiction, and now all of the newsmakers appear to be fools.
- Reuters, Yahoo Finance, and CNBC all took the wire’s phrases severely, and ran the story with out additional verification; the Financial Times, nevertheless, discovered neither a corresponding press launch on Walmart’s web site nor an 8-Okay kind on its SEC web page.
- Litecoin, which noticed a short spike to $300 in the course of the nice crypto increase of May 2021, has been principally toiling round $175 per coin for many of the summer time, and opened Wednesday at $183; after the pretend information hit, that quantity spiked to $233.75, adopted by a fast tumble after a spherical of retractions.
Walmart shortly denied the story, placing a capper on the embarrassing episode.
Speaking Of Embarrassing Episodes: a cadre of former Kamala Harris marketing campaign advisors have launched a brand new technique agency to assist CEOs keep away from embarrassing episodes. The group, dubbed C Street, is specializing in stopping CEOs from getting “canceled” and hopes to assist firms navigate the tough waters of so-called “woke capitalism.”
The basic deserves, pitfalls, and realities of cancel tradition are all within the eye of the beholder. But one factor could also be for sure: is there a neater solution to paint a bullseye in your again than hiring the anti-cancel disaster administration agency?
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.