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BWB: The Portal, Meme Stocks, & the NFL

BWB: The Portal, Meme Stocks, & the NFL

May 16, 2024

“The Portal” did not last long

The art installation that was meant to connect those in New York City and Dublin, Ireland lasted less than a week before it was temporarily shut down. If you’re unfamiliar with what this portal is. It is a screen that is connected via live stream and shows visitors in New York and Dublin a live look into the other country. 

However, this quickly turned out to be ruined by some visitors as some inappropriate actions were taken. This led to the portal being shut down. However, potential solutions to ensure that all inappropriate actions stop are being worked on before the portal opens up again. Hopefully one is found as “The Porta” is only in NYC until Fall 2024, and it would be a shame if it is continuously ruined, because the idea itself is really cool. 

GameStop is back 

Meme stocks had a huge rally again. If we go back in time to January 2021, we would be back at the time of the first massive rally of GameStop’s stock (GME). There have been movies made about this time, and countless articles written, but in short it was a movement by retail traders to try and push the GameStop stock price so high that short sellers had to sell or would lose a ton of money. Pushing the stock price higher. Short sellers are traditionally more experienced, professional traders. So when Keith Gill saw an opportunity to buy GameStop because he liked the company and posted about this online, he was able to amass a huge following that would do the same. This would lead GameStop to have an unbelievable return in a short time. However, then came some potential regulatory issues and Gill went silent. Then the hype around all of it slowed to nothing. 

Now, come to the current day. And after three years of silence, one single tweet by Gill kicked off another rally by GameStop. The tweet itself didn’t reference GameStop at all. It was actually just a picture of a guy sitting back in his chair playing video games then leaning forward to focus. But that is all it took for GME to double in stock price and then almost double again. 

Who knows where this will go or how long it will last for. But just the idea that a single tweet, not relevant to any stock whatsoever, caused a massive spike in GME a full three years after the first rally really is interesting to see.

Netflix to take over NFL Christmas Day games

Yet another streaming platform you will have to use to watch NFL games. The NFL and Netflix have agreed to a three year deal in which Netflix will be the broadcaster of Christmas Day games for the NFL. Specific details around the numbers of the deal are yet to be released but it is safe to assume it will be a lucrative deal to seal the rights to holiday games for Netflix. 

They have shown their interest in sports over the past few years but have mostly been in the form of documentaries. Now, they continue to make a massive push into live sports and this is Netflix’s biggest step yet. 

I’m sure this will be met by pushback by NFL fans as games specifically held on one streaming platform does provide a considerable barrier to watch the game that historically the NFL has never had. But, times are changing and this is just another sign of power that streaming platforms have.

Neuralink setback

Neuralink is in the middle of its first test with a living patient having a chip implanted into their brain. And at first, everything seemed to be going great. Now, Neuralink is running into some issues. The chips themselves attach and operate via threads that wire themselves into the brain. These threads are essential to monitoring neural activity and having the chip operate as it should for the patient. But some threads have detached from the patient’s brain and it is yet to be seen why they did, and what exactly this may mean for the patient moving forward. Neuralink is trying to figure both of those questions out on the fly as the brain implant test moves forward. 

Neuralink has said that seemingly the patient is not in danger from this and they are able to adjust the chip's function to ensure it is operating as efficiently as possible. But it does raise some serious questions moving forward around the efficiency of the chip and what are solutions to problems as they pop up because going in and removing the chip to then reattach does not sound like a feasible solution.