Morning Brew Daily OpenAI Drops $6.5B To Kill the iPhone? & Tariffs and Boycotts Hurt Target
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May 22, 2025 Target faces challenges as it misses Q1 expectations amidst stiff competition. OpenAI's $6.4 billion acquisition of an Apple designer signals a shift towards hardware innovation. Universal is set to compete with Disney by launching the Epic Universe theme park. Interestingly, affluent entrepreneurs are emerging from less glamorous industries, highlighting trends in wealth concentration. Lastly, a controversial climbing technique on Everest could revolutionize tourism in Nepal.
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Johnny Ive's Billion-Dollar Bet
- Johnny Ive founded a startup IO and sold it to OpenAI for $6.5 billion without releasing any product.
- He is now working with Sam Altman to redefine how we interact with AI hardware.
Target's Struggles Explained
- Target's sales dropped due to tariff impacts and backlash over rolling back DEI policies.
- Its reliance on discretionary spend and imports worsens vulnerability compared to competitors like Walmart.
Theme Parks Thrive Together
- Universal’s new Epic Universe park is poised to increase tourism in Florida alongside Disney rather than just take market share.
- Being located together benefits both by attracting more visitors overall.