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Short-Form Video Service Quibi Shuts Down

Quibi raised $1.75 billion in funding before launching to try to present “fresh content from today’s biggest stars — one quick bite at a time.” However, that didn’t materialize.

Eduardo Razo

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Quibi Holdings LLC launched in April of this year, and after only a few months, the short-form video service shutting down the company stated in a Medium post from Jeffrey Katzenberg and Meg Whitman. 

“We feel that we’ve exhausted all our options. As a result, we have reluctantly come to the difficult decision to wind down the business, return cash to our shareholders, and say goodbye to our colleagues with grace,” the announcement said. 

Quibi raised $1.75 billion in funding before launching to try to present “fresh content from today’s biggest stars — one quick bite at a time.” However, that didn’t materialize. 

Furthermore, in July, Sensor Tower claimed that Quibi lost over 90 percent of its subscribers after their three-month trial ran out. Only 72,000 of its roughly 910,000 users who had signed up stuck around as paid customers.

The Verge lays out a few reasons for the demise of Quibi, but two that stand out are the lack of breakout stars and free competition from platforms like YouTube and TikTok. 

A few weeks ago, a viral video from Nathan Apodaca, who goes by 420doggface208 on TikTok, recorded himself skateboarding down a road and drinking cran-raspberry juice from the jug, while the song “Dreams” plays in the background. 

The video has allowed Fleetwood Mac’s Rumours to reappear on the Billboard 200 chart. This video on a free platform is the type of competition Quibi faced, and it was Tik Tok that helped revive a song from the 1970s.

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Elon Musk Unloads $6.9 Billion of Tesla Stock In Advance of Twitter Legal Clash

With his most recent sale, Bloomberg reports Musk has sold more than $32 billion in Tesla stock in the past 10 months.

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Billionaire Elon Musk sold nearly $7 billion of Tesla shares, new fillings with the Securities and Exchange Commission reveals.

Musk, who finds himself in legal proceedings with Twitter over his reneging on a $44 billion deal to purchase the company, told a Twitter user “In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.”

With his most recent sale, Bloomberg reports Musk has sold more than $32 billion in Tesla stock in the past 10 months.

Twitter’s lawsuit against Musk is expected to being in October. Jim Dixon, a trader with Mirabaud Securities, told Bloomberg it’s “very unlikely” Musk is done selling Tesla stock.

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Steve Bannon Speculates If FBI Raid Might Lead to Trump Assassination

Bannon stated that the search of Trump’s Florida home could that the FBI or those within the government are plotting against the former president.

Eduardo Razo

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The former strategist for Donald Trump is reacting to what many in the news media are discussing, the FBI raiding Mar-a-Lago. Steve Bannon went on Alex Jones’ InfoWars, where he slammed the department. 

Furthermore, Bannon stated that the search of Trump’s Florida home could be a precursor as to what the FBI or those within the government are plotting against the former president. 

“I do not think it’s beyond this administrative state and their deep state apparatus to actually try to work on the assassination of President Trump,” Bannon said, per Mediaite

“Everything’s on the table. I think his security should be at the highest it’s ever been, and honestly … I think he should have flown down to Mar a Lago this morning, walked out at noon today, and said, ‘Hey, I’m running for President of the United States. Suck on that.’”

Bannon also used the opportunity on Jones’ show to dispel any rumors of Trump running for president in 2024 after Trump released on Truth Social that strongly suggested a new run for office. 

Also, the former Trump aide continued by saying, “they’re trying to liquidate InfoWars,” referencing the nearly $50 million Jones has to pay the Sandy Hook parents who sued him for defamation.

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Bill O’Reilly: ‘Unholy Alliance’ Between Liberal Media and Government Officials

A recent effort by citizens to recall Los Angeles County District Attorney George Gascon is O’Reilly’s point of contention.

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On Monday’s episode of The O’Reilly Update podcast, during the “message of the day” Bill O’Reilly focused on the ties between liberal media outlets and government officials.

“There are unholy alliances in play,” O’Reilly said. “That is press agencies advancing the fortunes of leftists seeking power, while at the same time ignoring injustice. Let’s focus on a very vivid example: the Los Angeles Times. Like its namesake in New York, the LA Times is a liberal outfit. Nothing wrong with that, if an attempt is made to provide straightforward news coverage. Unfortunately, that’s not what’s happening. While crime is devastating LA and other California cities, the newspaper is desperately trying to save progressive law enforcement agents who are directly responsible for the death and destruction.”

A recent effort by citizens to recall Los Angeles County District Attorney George Gascon is O’Reilly’s point of contention. He claims homicides are up 94% since Gascon took office in December of 2020. Shootings are up 54%, and O’Reilly pins those numbers on Gascon’s policy of criminal justice reform. O’Reilly used recent editorials from the California newspaper saying “the notion that a D.A. can make crime rise or fall over a period is absurd” as an example of this “unholy alliance”.

“What is absurd is that newspaper not processing the violent crime it reports on every day. That’s absurd,” O’Reilly argued. “The truth is the progressive movement believes the American criminal justice system is racist and wants to destroy it. The LA Times is part of the progressive movement. It has allied itself with that. And so, death in the streets of blighted neighborhoods really doesn’t matter for the greater good of criminal justice reform.”

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