Summary

Tesla's stock fell 8% due to a delay in unveiling its "robotaxi," while Paramount plans a merger with Skydance Media amid a 20% stock decline and hopes for future film successes. New York City introduces wheeled garbage bins after a $1.6 million contract with McKinsey, aiming to replace traditional sidewalk trash mounts. Etsy shifts focus to "keep commerce human," mandating products to be made, designed, handpicked, or sourced by sellers amid increasing AI influence. Meanwhile, coffee bean prices hit a two-year high due to supply chain issues and rising global demand, signaling potential price hikes into 2025.

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For those who read...‍

Hello, and welcome to this episode of Current2 Business! My name is Jake, and today we will be diving into the latest in the stock market and then take a look at New York’s viral new trash cans, Etsy’s new “human made” campaign, and coffee getting more expensive? Let’s hop right into it.  

In Stock Market News:

• Tesla’s stock took a dive Thursday following a report from Bloomberg that revealed the company plans to delay the unveiling of its new “robotaxi” from early August all the way to October; needless to say, investors weren’t too jazzed about that news, and Tesla’s shares resultantly fell over 8% just yesterday alone. This isn’t Tesla’s first rocky encounter with the stock market, however, as the company has seen enough peaks and valleys to rival even the most exciting of roller coasters and thrills, so rest assured: this won’t be the straw that breaks the camel’s back. 
• Paramount: one of America’s most famous and decorated motion picture studios, and also the company behind that so-so streaming service people bought just to watch Yellowstone. Paramount’s stock has been on the down and down this year, having fallen around 20% over the past six months; however, new horizons are in store for the motion picture giant, as they have now agreed to a merger with Skydance media in a deal that’s expected to close in September 2025, just mere weeks after board chair Shari Redstojne rejected a proposed merger whose terms were not too different from the present deal now. Whatever the case is, I think we can all hope that they just keep making good movies. And more Yellowstone…

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In Other Business News:

• After a $1.6 million dollar contract between the city of New York and consulting behemoth McKinsey and Company and over two years of wait, it’s finally here! What, you might ask? Why, garbage bins of course— on wheels too! That’s right, NYC Mayor and self-proclaimed fashionista Eric Adams unveiled the million dollar garbage bin this Monday in an effort to do away with the trash-mounted sidewalks the city streets have been so famously lined with for decades. Of course, I don’t think anybody would disagree that wheeled garbage bins are a positive thing to introduce to NYC,  but to set the unveiling to “Empire State of Mind” like Mayor Adams did Monday? I don’t think Jay-Z had trash on his mind when writing about NY…
• In a fast-changing world where our AI brethren seem to be taking greater and greater influence in our lives, our jobs, and even our entertainment— it’s nice to see a business who still cares about the “human” in humanity. So says Etsy CEO Josh Silverman, whose new goal is to “keep commerce human” and to get back the company back to its roots; going forward, Etsy will now mandate that all products sold on its website must fall into one of four categories: made by a seller, designed by a seller, handpicked by a seller, or sourced by a seller. These rules have been put in place as part of Etsy’s new human-made marketing campaign in the hopes that the company can retain and preserve the human touch in its products going forward. Good for you Etsy! Who knows? Maybe one day the robots will enjoy the “ human made” concept so much that your site will be their number one destination! 
• Lastly, for all you early-risers and caffeine-guzzlers, you might want to listen at your own risk, as this following news may very well be quite triggering. Due to a myriad of reasons, including supply chain shortages, weather disruptions, and a rise in international demand in markets like China’s, the prices of coffee beans are on the up and up and up! This very Tuesday in fact saw a two year high on Arabica coffee bean prices, and there’s no indication that there’ll be any slowing down soon, as we’ll likely see prices continue on an upward trend well into 2025. I hope you all have some coffee pods saved up in your homes, ‘cause if the world’s not careful, we may be due for a drought!  

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That’s all from us at C2 Business! We hope you enjoyed today’s episode, and if you learned something, share it with a friend by sending over the link to current2.com. Well, we hope you have a happy Friday, and a great weekend! Take care everybody!

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Sources:

Tesla stock falls (Axios)

Paramount stock plummets (MB, AP)

New NY trash cans (BI)

Etsy “human made” campaign (CNBC)

Coffee getting more expensive (MB, BT)