Morning Brew Daily Intel Ousts CEO & TikTok Shop Banks $100M in One Day?
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Dec 3, 2024 Intel's CEO Pat Gelsinger steps down after a tumultuous leadership marked by challenges in the chip market. Meanwhile, TikTok Shop impresses by raking in $100M in just one day, positioning itself as a formidable rival in e-commerce. The FDA is scrutinizing its handling of flavored vape products, reflecting the ongoing battle with youth vaping. In a surprising twist, Bible sales surge by 22%, revealing a shift in consumer sentiment amidst broader book sales declines. Join the hosts as they dissect these trends and more!
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Intel's Missed Opportunities
- Intel declined to create the iPhone's processor in 2005, misjudging the mobile market's potential.
- They also missed buying NVIDIA for $20B, which is now worth over $3T, due to its AI dominance.
Gelsinger's Downfall at Intel
- Pat Gelsinger's Intel turnaround plan failed, leading to his exit.
- Investors, unhappy with Intel's declining share price, reacted positively to his departure.
TikTok Shop's Black Friday Success
- TikTok Shop achieved over $100M in US sales on Black Friday, demonstrating growth in social commerce.
- Although a small fraction of overall Black Friday sales, it signifies TikTok's potential to challenge Amazon.