1. BI won their first National Magazine Award for impactful video on dogs in prisons, leading to new law in Virginia
2. Disney CEO Bob Iger and billionaire investor Nelson Peltz in proxy battle for board seats
3. Stocks continue to rally on hopes of rate cut, Ray Dalio investing in China, IPO market warming up
Big BI news: The National Magazine Award was won for a video on how dogs are used in prisons, which led to a new law in Virginia. Disney CEO Bob Iger and investor Nelson Peltz are in a proxy battle at the annual shareholder meeting. The vote could reshape Disney’s future and media industry. The battle is costly, with over $70 million spent, and unique due to the individual ownership of Disney shares. Although Disney was leading earlier in the week, the fight has been closer than expected.
In markets, stocks have rallied on expected interest rate cuts, but the delay from the Fed could pose issues. Ray Dalio believes it’s a good time to invest in Chinese equities. The IPO market is heating up. In tech, the debate about green text bubbles on iPhones continues. Landing a job at Nvidia is explained by a software engineer. Microsoft’s poaching has made hiring difficult for Inflection.
Elon Musk is facing challenges as Tesla’s delivery numbers slump and issues arise with other projects. Y Combinator’s new headquarters at Pier 70 is highlighted. Getting paid as a college athlete remains challenging. Today’s team includes Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, and George Glover.