Feb 21, 2023
The Weekly Scan February 22, 2023
Find out what’s happening in the world of business this week.
Welcome to the Weekly Scan. Here’s what we’re following for the week of February 22, 2023.
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Surprise, surprise. Netflix removed its ‘Surprise Me’ feature from the platform last month. The feature, which provided randomized recommendations to viewers, was designed to decrease the time Netflix viewers spent looking for appropriate shows. The removal comes amid pressures in the streaming industry surrounding differentiation and profitability.
Don’t call it a comeback. Bitcoin reached $25,000—an eight-month high—on February 16th. The surge contributed to adding $84 billion to the cryptocurrency market, and signaled optimism among investors that a crypto winter might soon be over. The rally occurred even as signs of a regulatory shakeup took shape.
Home is where the profit is. Airbnb posted its first-ever annual profit, driving shares of the travel company to its biggest one-day gain. The company also reported a strong outlook for 2023. Airbnb’s sunny forecast comes amid a boom for the travel industry, as people continue to embark on increased post-pandemic travel.
A G.O.A.T makes a wish. Michael Jordan announced that he recently made a $10 million donation to Make-A-Wish Foundation. The organization said that the basketball star is one of the non-profit’s most-requested celebrities, and the amount is in fact the largest donation it’s ever received. Michael Jordan made the donation in celebration of his 60th birthday.