My Brain Food This Week...
Elon's compensation package is blocked by a court, Peter Thiel wants a rival to the Olympics, and Tik Tok introduces shoppable posts
Story of the week:
TikTok Trials Feature to Make All Video Posts Shoppable
(PYMNTS)
Key takeaways:
TikTok is testing a new feature that makes all videos shoppable by automatically identifying objects and prompting viewers to find and purchase similar items on TikTok Shop.
The testing of this feature is part of TikTok's effort to establish a multi-billion-dollar eCommerce business in the U.S., with a goal of generating $17.5 billion in eCommerce volume this year through TikTok Shop.
While the launch of TikTok Shop received mixed reviews, the new testing feature aims to address concerns about counterfeit products and ad-like posts by linking products to regular users' posts, providing a more enjoyable experience for visitors seeking entertainment.
🤔 What do you think this move means for the e-commerce space and for Tiktok?
Let me know in the comments!
🌏 Global
A Delaware court has ruled that the Tesla board must scrap Elon Musk’s $55 billion compensation package. The belief is that the package was not negotiated and compiled with independent board parties and participants, seeing as all of the Tesla board members are friendly with Musk.
Peter Thiel and Balaji have backed a new athletics games that will rival the Olympic Games. The Enhanced Games will allow doping, and allow athletes to consume performance enhancements as necessary to allow the athletes to become the best versions of themselves.
Other reading:
Biden to Offer $1.5 Billion Loan to Restart Michigan Nuclear Power Plant
A handful of space companies are running out of cash and time. Here are three at risk
Amazon’s $1.4B Roomba bid fails, leading to iRobot layoffs and CEO resignation
🚀 Podcasts & Video
🤔 What did you think of the story of the week, or any other piece of content? Let me know in the comments!