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Morning Brew Daily
Spotify Laying Off 17% of Staff & Tesla Losing Their Tax Credits?
Dec 5, 2023
25:35
Snipd AI
Spotify plans to lay off 17% of staff despite successful release of Spotify Wrapped. Bitcoin's popularity and Tesla's loss of tax credits are also discussed. Venezuela approves a referendum to claim territory in oil-rich Guyana. Newspaper puzzle games and plush toys becoming valuable investments.
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- Spotify is laying off 17% of its staff despite its recent success, aiming to become leaner and more cost-efficient.
- Venezuela held a referendum to claim oil-rich territory in Guyana, reflecting the country's struggling economy and potential distraction tactic by its president.
Deep dives
Venezuela Threatens to Seize Territory from Guyana
Venezuelan President Nicolas Maduro held a referendum asking citizens to vote on whether a major chunk of neighboring Guyana should be absorbed by Venezuela. The vote resulted in an overwhelming majority favoring absorption. This territorial dispute has been ongoing, but the stakes heightened in 2015 when ExxonMobil made a significant oil discovery off the Guyana coast. The disputed land is rich in oil reserves, making it more valuable to Venezuela, which has been grappling with a struggling economy. The long-term implications and potential actions remain uncertain, but the vote is seen as a distraction tactic by Maduro.
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