Macy's Closing Over 30% of Stores & Are NFTs Back?
Feb 28, 2024
26:21
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Exploring Macy's closing stores and pivoting strategies, cyberattack on UnitedHealth impacting pharmacies, NFTs resurgence, TikTok's older audience shift, $1 billion donation for tuition-free medical school, college removing facial recognition vending machines
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Quick takeaways
Macy's focuses on quality by closing stores and expanding upscale brands.
Cyberattack on UnitedHealth emphasizes healthcare cybersecurity vulnerabilities.
Deep dives
Apple Abandons Self-Driving Car Project
Apple decided to halt its self-driving car development, shifting focus to AI and the Vision Pro headset. This move, despite missing a potential revenue stream, reflects a strategic shift towards AI technology and software strengths over developing a low-margin car business.
Macy's Strategizes Store Reduction and Upscale Focus
Macy's plans to close 150 stores, aiming for a quality-over-quantity approach by trimming unproductive locations. While reducing its Macy's portfolio, the company intends to expand Bloomingdale's and Blue Mercury, targeting a more upscale market amidst retail sector competition.
Healthcare Cyberattack Disrupts Prescriptions
A significant cyberattack affected United Healthcare's affiliate, leading to prescription fulfillment disruptions at pharmacies due to compromised insurance verification. This breach highlights the vulnerability of healthcare cybersecurity, with potential stolen medical records posing serious risks and indicating the increasing threats to healthcare entities.
Episode 268: Neal and Toby explain why Macy's is closing over 150 of their stores and what kind of strategy they are pivoting to for the long-term. Plus, the cyberattack on UnitedHealth that is majorly impacting pharmacies and are NFTs making a comeback? Next up, TikTok's biggest audience are actually millennials and how a $1 billion donation helped a medical school in New York go tuition free. And finally, a college is getting rid of vending machines that recognize your face.