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đĽ Mike Tyson vs. Jake Paul (by the numbers)
PLUS: McDonaldâs $100 Million E. Coli Problem; Trump might screw Tesla.
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TOP STORY
đĽ Mike Tyson vs. Jake Paul (by the numbers)
đ¸ Getty Images
As you may have heard, either from social media or your TikTok-obsessed cousins, Jake Paul and Mike Tyson just faced off in the ring.
For several reasons, it was one of the most controversial boxing matches in recent memory.
Tyson is retired at 58, while Paul is just 27 and arguably in the âprimeâ of his career.
Damn, Jake really canât fight anyone his own age?
I guess not, which is why many critics and viewers labeled the match a blatant cash grab.
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đ¸ AP Photo
But hey, even if it was, it worked!
60 million households tuned in, with streams peaking at 65 million, nearly half the Super Bowl audience.
72,300 fans packed AT&T Stadium in Arlington, Texas.
$18 million was brought in from ticket sales, making it the largest boxing gate in U.S. history outside of Las Vegas, Nevada.
They better be cashing in.
đŹ For comparison, the previous record at AT&T Stadium was $9 million for Canelo Ălvarez vs. Billy Joe Saunders.
Jake Paul and Mike Tyson each took home eight figures, according to Most Valuable Promotions (co-owned by Paul).
All right, so everyone was a winner, I guess.
Yup, it was an (almost) seamless fight, except for the streaming issues, which led to 95,000+ outage reports around 11 PM ET.
Nothing like paying for a front-row seat to watch pixels fight.
But still, despite the controversy and tech issues, Netflix emerged as the biggest winner in this fight, possibly redefining pay-per-view with streaming.
đŹ The fight streamed in 6,000 bars and restaurants across the U.S., setting a commercial distribution record.
đ Netflix ($NFLX) stock is up +80.80% this year.
FOOD
đŚ McDonaldâs $100 Million E. Coli Problem
đ¸ Food & Wine / Getty Images
Sh*t, what just happened? McDonaldâs is reeling after discovering they had a bad case of E. coli. Gross!
The culprit? Slivered onions on the beloved Quarter Pounder. Noooo.
Yes, itâs true. Who knew fast food could be so unhealthy?
Anyway, hereâs what we know:
Over 100 people got sick across 14 states, lawsuits are piling up, and the CDC seems to think McDonaldâs onions are the Typhoid Mary of this outbreak.
It looks like McDonaldâs executives are really shedding tears over those onions đ.
But now, as expected, McDonaldâs is trying to fight back.
đŹ Nationwide, McDonald's saw a 9% drop in visits shortly after the reported outbreak.
The outbreak led to a 1.5% drop in global same-store sales during Q3, surpassing the 0.6% decline anticipated by analysts.
đ¸ Erin McDowell / Business Insider
Whatâs in the $100 million plan? Mickie D's is dividing its response into two main buckets:
$65 million for franchisees in the hardest-hit areas to help cushion the blow and support their recovery from the sharp decline in customer visits.
$35 million for marketing blitzes, including a 10-piece McNuggets deal for just $1 (down from ~$5.99).
Nothing fixes a companyâs reputation like cheap food and local ads.
Good news, though.
McDonaldâs says recent food tests show no E. coli, and Quarter Pounders with onions are back on the menu as of this weekend.
Germ-free burgers for everyone!
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đ McDonaldâs ($MCD) stock is down -8.04% this month
AUTOMOBILES
đ Trump might screw Tesla
đ¸ Financial Times / Getty Images
Friendly fire!
Elon Musk, arguably the worldâs most famous EVpreneur, might suffer from a policy pushed by his own team.
Earlier this week, we learned that President-elect Trumpâs transition team is reportedly considering removing current President Bidenâs $7,500 EV tax credit.
This credit, part of the 2022 Inflation Reduction Act, has been a significant driver of EV adoption because it helps lower the upfront cost of electric vehicles, which makes them more accessible to consumers.
That sounds good to me. Why cut it?
đ¸ Andrew Harnik/Getty Images
Trumpâs cabinet sees the EV tax credit as part of Bidenâs very costly clean energy policies.
They argue it unfairly favors EVs over traditional vehicles, which can harm the fossil fuel industries that Trump wants to protect.
Hmm, I'm not sure how to feel about profits over clean energy, but itâs hard to argue with the $$$.
Regardless, wouldnât this new rule hurt Trumpâs right-hand man, Mr. Musk? Yes, it would.
Itâs no secret that Tesla dominates the EV market, but cutting federal subsidies could make EVs less affordable, which would slow growth and give gas-powered cars a solid chance to catch up.
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đ¸ Anna Moneymaker / Getty Images
What can Tesla do? They can focus on cutting production costs to keep prices competitive and expand into new global markets.
But if I were on Teslaâs board, Iâd be much more worried about how Musk plans to balance his role in Trumpâs administration with his identity as the face of EV innovation.
đ Tesla ($TSLA) stock is up +53.48% in the past month.
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