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Facebook lost daily users for the first time ever

It's a slight dip, and comes as disappointing earnings led to a fall in Meta's stock price.

Mark Zuckerberg looking sad.
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  • Morgan Haefner
By Morgan Haefner

Deputy email editor

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Here’s what you need to know

Facebook lost daily users for the first time ever. It’s a slight dip, but still unusual, and comes as disappointing earnings led to dramatic falls in parent company Meta’s stock price on the Nasdaq and in Frankfurt.

CNN’s president quit over an undisclosed relationship with another executive. Jeff Zucker leaves after nine years in charge, and admitted he should have told the company his partner is chief marketing officer Allison Golust.

It’s too early to assess the damage from the Rogan controversy, Spotify says. But although CEO Daniel Ek is unsure of the impact on subscriptions, the company’s stock price was already falling. User numbers in the last quarter were up, however.

PayPal shares tumbled. A spree of sell-offs erased $50 billion from the company’s valuation, with stocks falling nearly 25%, forcing it to abandon its growth strategy.

The US is sending 3,000 troops to eastern Europe. They will go to Poland and Romania to help NATO allies with any threat of Russia invading Ukraine.

None of Beijing’s snow will be real. It’s the first Winter Olympics to rely 100% on the fake stuff.

Our Need to Know: Beijing Olympics newsletter, though, is the genuine article.

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What to watch for

The earnings reports for video game giants Activision Blizzard and Nintendo arrive today on the heels of two multibillion-dollar deals from Microsoft and Sony. Because of its pending acquisition by Microsoft, Activision won’t hold a conference call, but its numbers will nevertheless be under the microscope as the market compares its 2021 results against its $68.7 billion sale price.

Nintendo’s story is a bit more uncertain as a global chip shortage continues to affect sales of its Switch console, while its Animal Crossing: New Horizons game remains a pandemic hit. One of the main questions is what Nintendo’s metaverse play might be, even though Animal Crossing is kind of a mini-metaverse. The company didn’t mention it in its last investor briefing, but as the major game studios consolidate and metaverse plans ramp up, the market will be looking for some indication that Nintendo plans to join the virtual party.

Will the Washington Commanders rebrand pay off?

A man wearing a hoodie with a small Washington Redskins icon holds up a sweatshirt with the new Washington Commanders logo while browsing in the Washington football team's fan store.
Image copyright: Rob Carr/Getty Images

The NFL’s Washington Football Team, formerly the Redskins, has a new name: the Washington Commanders. Brand analysts say the cost of a rebrand could be worth it if it helps win back some of the team’s shrinking fan base.

There are certainly opportunities to profit from new merchandise and licensing deals that come from the rebrand, but the team will likely have to overcome some skepticism about the new name at first.

$10 million: Estimated cost for a sports team to replace merchandise, uniforms, stadium signage, and everything else when it changes its name

19%: Drop in attendance at Washington home games since 2020

26: Rank of Washington’s fan base, out of 32 NFL teams, using measures such as game attendance and social media following

The next big computing revolution

Quantum computing isn’t just sci-fi hype—it could catalyze a technological revolution, spurring innovation in personalized medicine, self-driving cars, better public transit routes, and more.

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