Elon Musk can Buy TikTok

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In today edition we will talk about

• Starbucks Changes Its Policy on Restroom Use

• Meta Plans to Cut 5% of Low-Performing Employees

• LA Wildfires Leave Thousands Homeless Amid Soaring Housing Costs

• Why China Might Approve TikTok's Sale to Elon Musk

Starbucks Changes Its Policy on Restroom Use

Starbucks No Longer Offers Free Restroom Access to Everyone

Starbucks has ended its policy allowing anyone to use its restrooms or stay in its cafes without buying something. This change is part of a plan to improve the cafe experience for paying customers and prevent people from using the space just for shelter or bathroom access. The decision follows a major public relations issue the company faced in 2018.

New Rules for Starbucks Cafes

Under the new rules, Starbucks aims to make its cafes more welcoming for paying customers by banning activities like panhandling, discrimination, drinking outside alcohol, and vaping. The policy applies to all North American locations, and staff will be trained on the new guidelines.

Encouraging Customers to Stay

To encourage customers to enjoy their time in the cafes, Starbucks will now offer free refills of hot or iced coffee for anyone who stays in-store, not just loyalty members. This perk starts on January 27.

A Look Back at the Policy Change

The open-door policy started in 2018 after an incident in Philadelphia where two Black men were arrested for waiting in a Starbucks without buying anything. This caused a public outcry and led Starbucks to open its restrooms to everyone. However, the company has now decided to limit restroom access again due to safety concerns and the challenges this policy created for both employees and customers.

This change reflects ongoing issues in the U.S. with a lack of public restrooms, leaving private businesses like Starbucks to fill the gap.

Meta Plans to Cut 5% of Low-Performing Employees

Meta to Let Go of 3,600 Workers

Meta is cutting about 5% of its workforce, targeting low-performing employees, which could affect around 3,600 jobs. CEO Mark Zuckerberg announced that the company will now remove underperformers more quickly than before. These roles will be filled later this year.

Recent Changes at Meta

This announcement comes amid other major changes, including ending third-party fact-checking in the U.S., adjusting content policies, and cutting diversity programs. Critics suggest these moves aim to align with the incoming government. Meta has already laid off thousands since the pandemic began.

LA Wildfires Leave Thousands Homeless Amid Soaring Housing Costs

Finding Affordable Housing Becomes a Challenge for Displaced Families

After losing their homes to LA wildfires, thousands of families now face the challenge of finding affordable housing in an already tight and expensive market. Martin Johnson and Celeigh Chapman, who lost their newly renovated home, are among those struggling to find a place to live.

Housing Prices Expected to Rise

The sudden surge in demand due to the fires has real estate agents worried about soaring prices. With already limited housing supply, the loss of thousands of homes is expected to push rental and purchase prices even higher. Some agents report seeing rental costs climb by hundreds of dollars within days.

Long Rebuilding Process

Rebuilding the lost homes could take years, making the housing crisis worse. Experts warn that some displaced homeowners may face "predatory buyers" offering quick cash for their damaged properties.

Short-Term Housing Options Scarce

Short-term rentals are in high demand, but there aren’t enough to accommodate everyone affected by the fires. Families are also facing stiff competition and higher rents, with some having to pay up to a year’s rent upfront to secure a lease.

Why China Might Approve TikTok's Sale to Elon Musk

A Surprising Shift in China’s Stance on TikTok’s U.S. Ownership

China may now be open to TikTok selling its U.S. operations to Elon Musk, a stark change from its earlier opposition to a sale. Discussions are reportedly underway for Musk’s company, X, to acquire a portion of TikTok’s U.S. assets, ahead of a potential ban on the app in the United States.

Benefits for All Parties

China might favor Musk as a buyer because of his strong business ties to the country through Tesla. For ByteDance, TikTok’s parent company, selling to Musk could help them retain value before losing the U.S. market. Musk could benefit by expanding his social media influence and presenting himself as a defender of free speech.

Challenges Ahead

Despite the potential benefits, Musk would need significant funds, possibly up to $50 billion, to buy TikTok. Additionally, user backlash and regulatory hurdles could complicate the deal, making it far from certain.

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