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Broke Brothers
summed up: Brooks Brothers filed for bankruptcy last Wednesday. RIP

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Explain...
Brooks Brothers, best known for suits and ~preppy~ clothes, is looking for a buyer. Thanks to COVID and loungewear, it seems the world has become less interested in "Ivy League Style." Brooks Brothers has decided to close 51 stores and three factories.

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What's important about it?
Brooks Brothers is the latest big retailer to file for bankruptcy (re: J. Crew and Neiman Marcus).  The owner, Claudio Del Vecchio, blames the pandemic and Casual Fridays. RIP fancy white people???
 
Read more here.

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Tesla Short Shorts
summed up: Investors are betting nearly $20B against Tesla... making it the most shorted stock in history.

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Explain plz...
Shorting is a different way to invest by placing a bet that a company's stock price will go down.  In Tesla's case, investors believe that the company's stock is wayyyy overvalued and believe it's price will drop soon. If it does, they'll profit. If the stock price increases... well... Elon Musk sends them a big 🖕.


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Has it worked?
Tesla's stock has been up more than 480% over the last year so, not really. The short-sellers have lost $18B so far on their bet against Tesla. 

Elon Musk crushed expectations and... gave us the content we needed by selling limited-edition Tesla "short shorts." 
 
Read more here. 

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In other news...

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Disney+'s release of Hamilton increased US app downloads by 79%.

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Palantir, the secretive data-mining company famous for working with the US army, the White house to track coronavirus, and... ICE, has confidentially filed for an IPO. 

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Deutsche Bank was fined $150M working with Jeffrey Epstein. ugh.

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We're all about the CAREN Act-- it would make discriminatory, racially biased 911 calls illegal in San Francisco. Bye, Karen. 

Hi!
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