Equity Equity Monday: The beginning of the end of ‘996’
Nov 1, 2021
Explore the financial fallout for major social media platforms from Apple's privacy changes. Discover how China's strict '996' work culture is finally easing up, paving the way for more humane labor practices. Catch the latest buzz on the VMware spinoff from Dell and the bustling startup scene with impressive funding rounds, including $700 million for Digital Currency Group. Plus, get ready for upcoming IPOs from companies like Allbirds and NerdWallet that are set to make waves in the market!
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ATT's Impact
- Apple's ATT policy cost social media platforms around $10 billion in revenue.
- This "lost revenue" is more like prevented future earnings, as ATT promotes user privacy.
996 Work Culture Decline
- The exploitative 996 work culture (9 a.m. to 9 p.m., 6 days a week) is declining in China.
- ByteDance, TikTok's parent company, now implements a 1075 schedule.
Dell-VMware Spinoff
- Dell spun off VMware, distributing VMware stock to Dell shareholders.
- This move benefits Dell shareholders as VMware was a valuable asset.