The Paralympics; Temu’s Parent Company Loses $50 Billion; Harnessing Ocean Power

Welcome to Trippant Takeaway!

This week we dive into the implications of tech executive liability, celebrate Zakia Khudadadi’s historic win, and explore the latest drama over the “Very Demure” meme. Plus, get the scoop on Temu’s staggering market loss, the Paralympics' TikTok revolution, and Luke Bennett’s ambitious leap from Esports to real-world racing. Enjoy!?

The big stories ???

Can Tech Executives Be Held Liable for Platform Activities?

The recent indictment of Pavel Durov, founder of Telegram, has ignited debate over whether tech leaders should be held personally responsible for illegal activities on their platforms. With Durov facing charges in France, concerns are growing about the future legal risks for executives like Meta’s Mark Zuckerberg and X’s Elon Musk. Historically, companies, not individuals, have been held accountable, but this could be changing as regulators push for stronger accountability in areas like child safety. The debate continues over whether the personal liability of tech executives will become more common. Read the full article by Adam Satariano and Cecilia Kang - The New York Times

Zakia Khudadadi: First Refugee Paralympic Medallist

Zakia Khudadadi has made history at the Paris Paralympics as the first medallist from the Refugee Paralympic Team. Competing in taekwondo, Khudadadi won bronze in the women’s -47kg category, defeating Turkey’s Ekinci Nurcihan after Morocco’s Naoual Larrif withdrew. The 25-year-old, who trained in secret in Afghanistan and overcame numerous obstacles, celebrated her win with heartfelt emotion. “This medal is for all the women of Afghanistan and refugees worldwide,” Khudadadi said. Read the full article - The Guardian

The 'Very Demure' Meme Drama

The viral catchphrase "Very Demure, Very Mindful" is at the heart of a trademark dispute, generating widespread media attention. TikTok influencer Jools Lebron, who is credited with popularising the phrase, is now facing competition from Jefferson A. Bates, who has applied to trademark it. Lebron’s influence and recent deals underscore the meme’s cultural impact. Despite its growing popularity, the trademark registration process remains complex and uncertain. Read the full article by Sarah Jeong - The Verge

Temu’s Parent Company Loses $50 Billion

PDD Holdings, the parent company of the fast-fashion app Temu, saw its stock plummet over 30% in a single day, resulting in a loss of more than $50 billion in market value. This sharp decline followed disappointing revenue results and concerns about heightened competition and regulatory pressures. Despite strong revenue growth, PDD warned of future profitability issues and intensified competition from major players like Amazon, Shein, and TikTok’s Shop marketplace. Additionally, Temu faces scrutiny over product quality and shipping practices, with new U.S. legislation potentially raising costs for foreign shipments. Read the full article by Jason Del Rey - Fortune

The Paralympics on TikTok: Redefining Representation

The Paralympics’ official TikTok account is breaking barriers and reshaping perceptions of disability. With over 4.5 million followers, the account skilfully balances humour and respect, showcasing the athletic skill of Paralympians while engaging a young, internet-savvy audience. The team behind the account, led by Paralympian "TikTokTony," aims to celebrate these athletes without patronising them. This approach is resonating, with viewers expressing newfound interest in the Paralympics. By embracing the quirks of internet culture, the IPC is not only raising awareness but also inspiring future athletes. Read the full article by Margaret Fleming - Front Office Sports

Esports Champion's Motorsport Ambition

Luke Bennett, a 19-year-old esports champion from Bromsgrove, has just claimed victory at the first Esports World Cup, winning ￡100,000 in sim racing. As a member of Team Redline, linked to Red Bull’s F1 team, Bennett has excelled in virtual racing, but he's now eyeing a transition to real-world motorsport. Despite sim racing’s growing prominence and the upcoming Olympic Esports Games, Bennett acknowledges the uncertainty of his future but remains optimistic. His journey from a ￡100 steering wheel to world champion highlights the expanding potential of esports in the traditional sports arena. Read the full article by Pete Allison and Riyah Collins - BBC

Insights & Analysis ???

The Latest in NFL Valuations - 2024

The Dallas Cowboys have become the first sports team valued at over $10 billion, leading Forbes' 2024 list of NFL teams, with all 32 teams now worth at least $4 billion. The NFL's new media deals have boosted team revenues, ensuring profitability across the board. The league's global expansion, potential new stadiums, and a shift to allow private equity investment are set to drive team values even higher in the future. Read the full article by Justin Teitelbaum - Forbes

Expert Opinion ???

Harnessing Ocean Power

Despite covering over 70% of our planet, the oceans remain largely untapped for renewable energy. With the potential to generate up to 100 times the world's current hydroelectric power, ocean waves could transform the energy landscape. However, capturing this energy is challenging due to the complex nature of wave movements and the potential impact on marine ecosystems. Despite these hurdles, innovative projects and substantial investments are underway, aiming to turn ocean energy into a feasible and sustainable power source. As research progresses, the dream of harnessing the vast energy of our seas might become a reality. Read the full article by Dr. Katie Spalding - IFLScience

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