Social media is abuzz with the news that Instagram’s founders are leaving the company and handing the keys over to Mark Zuckerberg.
When they initially sold Instagram to Facebook for $1 billion in 2012, Mike Krieger and Kevin Systrom were kept in post, to manage the creative development of the rapidly growing platform.
However, after many clashes with their parent company and its founder over politics and product features, it seems the two are ready to move on to their next adventure.
Several $FB holders that I’ve spoken with recently have shrugged off the recent trend of users migrating away from Facebook by stating that the social network giant has managed to buy out most of the competition.
After the co-founder of WhatsApp famously urged his followers to delete facebook in April, the bigger question now becomes, will Zuckerberg manage to retain the attention of the public while those responsible for building up these platforms are working against him.
Facebook’s stock has had a rather turbulent year so far. It will be interesting to see how the shares open up today.
@MatiGreenspan
Today’s Highlights
Knife to Throat Negotiations
Don’t Rush Central Bankers
Backtracking Crypto Slander
Traditional Markets
Stocks in Asia are down sharply today, as authorities are using vivid imagery as a negotiating tool with the United States.
It’s clear that China is willing to talk and the latest rhetoric seems to be more about respect than leverage. A gentle reminder that it’s difficult to negotiate when you’re backed into a corner.
The China50 index has now revealed a new trading range (solid yellow lines) between 10,750 and 12,000 points. Both of these levels have proven to be critical junctures (dotted yellow lines) over the last two years.
In Japan, on the other hand, stocks are flying as the central bank has offered even more support to the market.
