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Morning Brew Daily
Bitcoin Hits $80k for First Time Ever & Barnes & Noble is So Back
Nov 11, 2024
29:45
Snipd AI
Bitcoin is making headlines as it crosses $80,000, fueled by political changes and crypto-backed candidates. Barnes & Noble is making a comeback with plans to open 60 new stores, focusing on community engagement. The Grammy nominations are creating buzz with Beyoncé’s records and some surprising snubs. Plus, New York’s congestion pricing faces political tension and logistical challenges, while global sporting events await new regulatory influences.
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Quick takeaways
- Bitcoin's surge to over $82,000 underscores the growing investor optimism driven by pro-crypto policies following recent elections.
- Barnes & Noble’s successful revival through local management empowerment illustrates the effectiveness of tailored strategies over corporate uniformity.
Deep dives
The Resurgence of Barnes & Noble
Barnes & Noble has experienced a remarkable turnaround after facing potential bankruptcy just six years ago, achieving its goal of opening 60 new locations this year. This resurgence is attributed to a hedge fund buyout in 2019 that empowered local store owners to curate selections based on their communities' preferences, embracing a more indie flair. Unlike its previous strategies that focused on uniformity and corporate control, the bookstore chain now prioritizes local management input, allowing for varied branding and décor across its locations. This strategy has resonated with customers, reflected in a 4% increase in sales and a significant number of new openings.
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