Above the Fold

Gearing Up for Web3

There’s no possible way we could explain all the nuances of Web3 in a few paragraphs, but there are a few critical points you should know as an investor and consumer. Firstly, the development of Web3 has been heavily motivated by the dominance (and general disdain) of just a few big tech companies over internet traffic and commerce (think Google, Facebook, Instagram, etc). Perhaps most odd is the fact that the Web3 concept is still quite nebulous. Some Web3 projects include decentralized platforms, like PeerTube, that aim to replace centralized services such as YouTube and many others. 

Decentralized Autonomous Organizations (DAOs) are blockchain-based businesses that are native to the internet, owned and managed by members. DAOs are most interesting as they alter traditional corporate structure and decision making, putting power squarely in the hands of investors. Defi (decentralized finance) is also likely to be a big part of Web3; the term describes anything related to peer-to-peer lending and transactions to decentralized crypto exchanges. 

At the end of the day, different people want different things from Web3, but much of it is centered around decentralization and monetization of your web interactions. There are no guarantees that any or all of these ideas will come to fruition in current form, but you should know that established companies like Microsoft, Spotify, Airbnb, Instagram and others are already investing heavily in Web3, and money is already pouring into Web3 startups looking to capture a piece of the action.  

Three Things 

1. Alibaba Sees Value (in Itself) – With its share price losing roughly 50% over the last year, Chinese e-commerce giant Alibaba decided to up its share buyback program to $25 billion. The 67% increase in share buyback authorization is substantial, as it represents nearly 10% of its total market capitalization. Share buybacks are used to increase earnings per share (as buybacks reduce shares outstanding) and help prove to the marketplace that a company believes in the future of its business. 
2. Disneyland Is Not The Happiest Place on Earth – For the fifth year in a row, Finland was named the world’s happiest country for 2022 by the World Happiness Report. Denmark, Iceland, Switzerland and the Netherlands rounded out the top five, while the United States registered 16th. Afghanistan came in at the bottom of the list, which uses data such as generosity, life expectancy, GDP per capita, social support in difficult times, low corruption, high social trust and other points to rate nations. 
3. YouTube Joins Streaming TV Land – Joining the ranks of Plex, XUMO, Roku, Tubi, Vizio, Samsung and others, YouTube will now offer over 4,000 episodes of free TV streaming (with commercials, of course). The move is substantial, as YouTube will include popular shows such as Hell’s Kitchen, Andromeda, Heartland and more. And because so many consumers already use its platform daily, the company is hoping they will just stay there to watch their favorite shows. Free movies are already available and the company promises to add up to 100 movies and TV shows weekly. 

Did You Know? 

Remembering One of the Worst Oil Spills in History

It was on this day back in 1989 that the Exxon Valdez ran aground on a reef in Prince William Sound, Alaska. Captain Joseph Hazelwood was drinking at the time of the incident and had allowed an uncertified officer to steer the ill-fated ship. The negligence triggered an estimated 11 million gallons of oil to spill into the water. Containment efforts were largely unsuccessful, while high winds made matters worse, eventually contaminating more than 700 miles of coastline. Exxon ended up settling two years later for less than $25 million toward cleanup and recovery.