Tech insider Kara Swisher discusses latest tech trends, her book 'Burn Book,' and parenting in the digital age. Also, the impact of a bridge collapse on the port of Baltimore, Visa and Mastercard's $30B settlement with merchants, and a curious crypto story.
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Quick takeaways
The collapse of the Francis Scott Key Bridge in Baltimore has disrupted vital transportation routes affecting commerce and infrastructure.
Visa and MasterCard's $30B settlement with merchants over interchange fees may lead to varying charges for consumers based on credit cards used.
Deep dives
Impact of Bridge Collapse in Baltimore
The collapse of the Francis Scott Key Bridge in Baltimore due to a cargo container strike has led to significant disruptions. This incident, resulting in tragic loss of life, has severed a crucial transportation route affecting the port of Baltimore, a major transshipment hub for various goods like cars, gypsum, lumber, and coal. The disruption is expected to have a substantial impact on commerce and infrastructure, requiring time for cleanup and causing flow disruptions for hazmat trucks and other traffic.
Settlement between Credit Card Companies and Merchants
Visa and MasterCard have settled a suit with merchants over interchange fees, saving an estimated $30 billion for merchants over five years. While this settlement impacts the credit card companies, the fees themselves go to the banks underwriting the cards. This agreement could allow merchants to apply varying prices based on different credit cards used, potentially leading to differentiated charges for consumers. The implications of this settlement are more substantial for merchants and banks than for Visa and MasterCard.
Fluctuations in Bitcoin and Crypto Activities
The crypto market, particularly Bitcoin, has seen significant price surges, with a 20% increase in a month and over 50% year-to-date. This surge has drawn increased attention to companies engaging with crypto, including reports of North Korean cyber activities targeting lower security crypto projects. An extreme case involving an announcement to acquire an exorbitant amount of Bitcoin compared to the company's market cap resulted in suspicious stock movements and the resignation of the CEO, raising concerns about potential market manipulation within the crypto space.
Merchants are going to be taking a bigger cut of credit card swipes, what does it mean for VIsa and Mastercard?
(00:21) Bill Mann and Dylan Lewis discuss:
- The tragic Francis Scott Key Bridge collapse in Baltimore and how it affects the port and the companies with goods going in and out of it.
- Visa and Mastercard’s $30B settlement with merchants over interchange fees.
- A curious crypto story with Nilam Resources.
(12:09) Tech insider Kara Swisher joins Deidre Woollard to talk about her new best-seller “Burn Book” and how a tech CEO helped her kids use social media a little less.