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Hereās what you need to know
Facebook lost daily users for the first time ever. Itās a slight dip, but still unusual, and comes as disappointing earnings led to dramatic falls in parent company Metaās stock price on the Nasdaq and in Frankfurt.
CNNās 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.
Itās 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 companyās 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 companyās 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 Beijingās snow will be real. Itās the first Winter Olympics to rely 100% on the fake stuff.
Our Need to Know: Beijing Olympics newsletter, though, is the genuine article.
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 wonāt 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.
Nintendoās 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 Nintendoās metaverse play might be, even though Animal Crossing is kind of a mini-metaverse. The company didnāt 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?
The NFLās 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 teamās 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 Washingtonās fan base, out of 32 NFL teams, using measures such as game attendance and social media following
The next big computing revolution
Quantum computing isnāt just sci-fi hypeāit could catalyze a technological revolution, spurring innovation in personalized medicine, self-driving cars, better public transit routes, and more.
ā¦ Dive deeper into the state of quantum computing in our latest presentation, exclusive to Quartz members.
Handpicked Quartz
š Google is outdoing Apple and Tesla with a 20-for-1 stock split
š Biogenās Alzheimer drug Aduhelm proves drug prices are a lie
š¬ Why does Tesla keep recalling cars?
š¤ There are three types of workers. Which one are you?
š” Spainās new āright to housingā law enshrines rent control nationwide
š In Indiaās 2022 budget, the EV sector gets a boost but no tax cut for Tesla
Surprising discoveries
Need some juice for your electric vehicle? One day, maybe you can drive through this planned wireless charging road in Michigan.
CAR T-cell therapy is working. The treatment has cured certain blood cancers.
Watch out for fake covid-19 test sites. As if we needed one more thing to stress about.
India is sending one athlete to Beijing. If skier Arif Khan wins a medal, itāll be the countryās first for the Winter Games.
The first puffer jacket was a formal ball gown topper. Or was it a coat for Everest climbers? Find out in the first episode of the Quartz Obsession podcastās second season.
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Our best wishes for a productive day. Send any news, comments, tickets to ski in Gulmarg, and coats to wear on the slopes to hi@qz.com. Get the most out of Quartz by downloading our iOS app and becoming a member. Todayās Daily Brief was brought to you by Hasit Shah, Adario Strange, Courtney Vinopal, Jasmine Teng, Morgan Haefner, and Liz Webber.