Morning Brew Daily Macy's Closing Over 30% of Stores & Are NFTs Back?
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Feb 28, 2024 Macy's is closing over 150 stores to focus on high-performing locations and luxury experiences. A major cybersecurity breach at UnitedHealth is causing turmoil in pharmacies. Surprisingly, TikTok's user base is now filled with millennials, defying its youth-centric reputation. The discussion also touches on the resurgence of NFTs and their uncertain future. Finally, a college is eliminating facial recognition vending machines, raising privacy concerns in our tech-driven world.
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Apple Pivots from Cars to AI
- Apple abandoned its self-driving car project, reassigning 2,000 employees to AI.
- This shift prioritizes AI and the Vision Pro headset over the low-margin car business.
Macy's Downsizes, Upscales
- Macy's is closing 30% of its stores, focusing on higher-end Bloomingdale's and Blue Mercury.
- This strategy prioritizes quality over quantity in the competitive retail landscape.
Healthcare Cyberattack
- A cyberattack on UnitedHealthcare's Change system disrupted prescription fulfillment.
- This highlights the vulnerability of the U.S. healthcare system's cybersecurity.