The CEO of e-retailer Poshmark sees a development in trend as customers “clear” the closets

Fashion trends are shifting as consumers prepare for the post-pandemic world, Manish Chandra, CEO of online retailer Poshmark, told CNBC on Thursday.

After a year of lockdown, the sale of going outwear is increasing.

Meanwhile, fitness apparel purchases are declining and the e-commerce platform is a channel for buyers and sellers to “clean” their closets, he said in a one-on-one conversation with Mad Money host Jim Cramer.

“We’re certainly seeing a real change in what people are buying,” Chandra said.

Poshmark is an online marketplace that contains social media elements where buyers and sellers can create profiles to connect, like, comment and share clothes for sale in so-called “Posh parties”.

“We’re kind of starting to prepare people,” said Chandra.

As interest in personal social activities increases during the warmer months, bikini and jeans short sales at the shipping lot have roughly doubled. And with many employers calling their employees back to the office after working remotely for about a year, workwear sales have increased 30%, Chandra said.

On the other hand, sales of sweatpants and other workout-related items have slowed, he added.

The sustainability-focused website, which has no inventory, allows users to recycle or sell their clothing by diverting potentially discarded items from the landfill.

“It’s a gigantic purge in a way, but your purge is valuable to someone else,” Chandra said.

Poshmark began a hot IPO in January that valued the company at $ 3 billion, more than double its 2019 value.

Most recently, the stock closed at $ 39.34.

Sha’Carri Richardson Makes First Public Look At The ESPY Awards Following Olympics Controversy

Sha'Carri Richardson

Roommates, it’s been a few days since former Olympic track & field hopeful Sha’Carri Richardson made national news after being disqualified from the upcoming Tokyo Olympics due to marijuana use. Fast forward, and Sha’Carri Richardson was all smiles during her first public appearance since the controversy by attending this year’s ESPY Awards.

Sha’Carri Richardson has been the main topic of conversation following the news that she would not be able to attend this year’s Olympics in Tokyo after testing positive for marijuana during the Olympic Trials earlier this month in Oregon.

Well, if you thought that she would be somewhere sad and avoiding the spotlight, you’re wrong because she slipped on her best glam and sat front row at the 2021 ESPY Awards hosted by actor Anthony Mackie—who used his opening monologue to shout Sha’Carri out and make a light-hearted joke about her suspension.

“USA Track & Field, how you mess that up? Weed is a de-enhancing drug. It doesn’t make you do anything besides watch another episode of ‘Bob’s Burgers.’ I don’t get how you justify not letting her run,” Anthony said.

As we previously reported, following the outpouring of support and encouragement she received after testing positive for marijuana just weeks before the upcoming Tokyo Olympics, Sha’Carri has to say goodbye to her 2021 Olympics dreams after not being selected as a member of the 4 x 100 Olympic relay team in Tokyo.

Currently suspended, Sha’Carri had one last hope for her quest to the Olympics, but according to the USA Track & Field roster, the 21-year-old will not be included in any Olympic events.

 

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Firms plan to speculate $ 593 million in truck charging networks

Sina Schuldt | Image Alliance | Getty Images

Three large transport companies are to work together on the development of a European charging network for “battery-electric heavy long-distance trucks and coaches”.

In a joint announcement earlier this week, Volvo, Daimler Truck and the Traton Group announced that they had signed a non-binding agreement to install and operate the network. The aim is to found a joint venture in which all three companies have an equal share and whose operation is to begin in 2022.

Together, the companies want to invest 500 million euros (around 593 million US dollars) in the joint venture based in Amsterdam, the Netherlands.

Within five years of the establishment of the JV, at least 1,700 “green charging points” should be installed and functional. The technology, according to the companies, should be “close to motorways as well as to logistics and destination points”.

“The number of charging points is to be increased significantly over time through the search for further partners and through public funding,” they added.

Changes are imminent, but challenges are imminent

In April, the International Energy Agency announced that by 2030 there will be 145 million electric cars, buses, vans and heavy trucks on the roads around the world.

According to the Paris-based organization, the global electric vehicle fleet could grow even further if governments step up efforts to meet international energy and climate goals, reaching 230 million by the end of the decade. Both projections exclude two- and three-wheel electric vehicles.

As the number of electric vehicles on our roads increases, extensive charging networks must be set up for all types of vehicles to meet increased demand and to address lingering concerns about “range anxiety” – the notion that electric vehicles cannot make long journeys without losing power and get stranded.

The electrification of heavy trucks and coaches in long-distance transport poses particular challenges. As the IEA’s Global EV Outlook for 2021 states, “Long-haul transportation requires advanced technologies for high-power charging and / or large batteries”.

Read more about electric vehicles from CNBC Pro

In a conversation with CNBC’s Squawk Box Europe on Wednesday, Lars Stenqvist, Volvo’s Chief Technology Officer, tried to explain why a charging network is needed for heavy-duty vehicles.

“At the moment we manufacture and sell electric heavy-duty trucks mainly for garbage, for urban use,” he said. “And these vehicles usually come home to their ‘base camp’ every night to recharge.”

Stenqvist said the next step in the journey will be regional and long-haul applications.

“Then you are dependent on … [getting] the pan-European charging network is in place and at the moment it is a bit [a] Chicken and egg discussion because there are no vehicles and … no infrastructure. But if there is no infrastructure, there will be no vehicles. “

Regarding how the project worked on site, Stenqvist stated that it would be a “public, open network” – so any brand can charge their vehicles on that network.

Later in the discussion, Stenqvist emphasized the importance of differentiating between vehicles. “We are talking about really powerful chargers and that is one of the reasons why we do not and cannot use the car charging network … not from a performance point of view and of course not from a … layout perspective.”

Former Microsoft worker makes higher residing making YouTube movies

Kevin Stratvert produces videos at his home in Seattle.

Tara Brown

When Microsoft updated its Teams communication app with a more sophisticated way to give PowerPoint presentations in January, the company published a 500-word blog post on the feature. People could read the blog post and try to figure out how to use it, or they could consult YouTube.

On the video service owned by arch-rival Google, a former Microsoft employee named Kevin Stratvert published a video on Presenter Mode to his more than 800,000 subscribers, garnering more than 180,000 views and hundreds of comments. Microsoft itself had not published a video on the topic.

“I’ve built a Microsoft audience,” Stratvert said in an interview with CNBC. “Microsoft content drives a lot more viewership than non-Microsoft content. I’ve done Gmail and a few others, but they haven’t done quite as well.”

That might have to do with the reach of Microsoft’s products. The company held 86% of the email and authoring market in 2020, according to technology research firm Gartner, with 1.2 billion Office users.

Not every one of those 1.2 billion knows how to do everything in Office, though, and people also need to keep up with the latest updates that Microsoft pumps out. Videos from Stratvert and his YouTube contemporaries are helping with that — and sometimes getting more eyeballs than Microsoft’s official videos.

Much better off

Stratvert arrived at Microsoft in 2006, the same year Google acquired YouTube for $1.65 billion. His first YouTube video showed footage from a drone flying over a town in New Jersey. Then Stratvert filmed videos of his travels in the Puget Sound and beyond. How-to videos and gadget-review videos followed.

In 2017 he posted his first Microsoft-related video, in which he toured treehouses on the company’s campus with his wife, Kerry Stratvert, a manager at the company. In the video description, he included a disclosure saying that he was a Microsoft employee.

Two months after the treehouse video, Stratvert was working on the small development team behind Office.com, a website that gives fast access to online versions of Excel spreadsheets and other Office documents. The site was not well known, especially compared with Office applications for PCs, so Stratvert and colleagues asked their peers in marketing if they could spread the word about Office.com. The marketers didn’t have enough resources to help, Stratvert said.

So Stratvert produced a video showing how people could use Office.com to get most features of Microsoft Office free of charge. It performed well, and his manager told him he had done a good job.

He went on to make videos about Excel, Outlook, PowerPoint, Teams, Windows and Word. Microsoft employees on other teams noticed and started asking him to make videos about their products. They saw how many people were watching and recognized that getting him to talk about their products could bring in new users, which in turn could mean more favorable employee reviews.

“It’s almost like teams appreciate that there’s this other outlet that’s kind of unofficial,” he said.

Then, in July 2020, months after the pandemic sent the Stratverts home, he gave up his position at Microsoft and began making five times as many videos as he was before. He no longer needed to include disclosures in videos that he was a Microsoft employee, and he could talk more freely about competing products such as Slack and Zoom.

YouTube users have hit the subscribe button. Today he has 85% more subscribers than the official Microsoft 365 YouTube channel focused on Teams and other Office applications, which he said has a team of 20 to 30 people producing content.

“Economically I’m much better off,” he said. His wife still works at Microsoft.

Promoting external creators

Historically, developing and maintaining products has been the core of Microsoft. Today nearly 50% of employees work in engineering. Marketing is a considerably smaller part of the business, and employees work on ads, materials for Microsoft’s website, events and other methods of promotion.

In the past few years, a group inside Microsoft began focusing more on YouTube.

“On YouTube specifically, we’re starting to explore the concept of what it looks like to do something native to YouTube,” Sonia Atchison, a market research lead who worked on the Microsoft Creators Program, said on a podcast last year.

People often turn to YouTube when they want to get a better understanding of Microsoft software, and while Microsoft has plenty of its own videos available on YouTube, they don’t always come up at the top of the site’s search results, Atchison said. Videos from outsiders can receive higher rankings.

Sometimes a video from a Microsoft employee might be there. The company does have employees with large audiences, including Mike Tholfsen, a 26-year company veteran whose videos show how teachers and students can use Teams and other applications.

Microsoft wanted more people like Tholfsen. The company formed a group to help people working on different products learn how to build sizable YouTube channels, said Jon Levesque, who posted YouTube videos as a senior platform evangelist at Microsoft before taking a job at DocuSign in March. There were issues at times. Some employees asked why they were concentrating on a service owned by a top competitor, and teams didn’t always agree with everything that employee-creators said in videos, Levesque said.

The effort didn’t get far, and Microsoft began promoting videos from non-employees instead, with the establishment of the Microsoft Creators Program. The company started including outsiders’ videos in its video playlists, and it offered to use their videos for customer support. That led to some additional video views, said Jason Sele, whose YouTube channel goes by the name Sele Training. In late June, Microsoft announced plans to put the program on pause.

Among the dozens of people who joined the Creators Program, the most popular is Leila Gharani, a software instructor in Vienna, with over 900,000 subscribers. After picking up skills in Excel and other software on the job, Gharani began teaching classes in person and online. She made her YouTube debut in 2016, with the hope of enhancing her filming skills.

The channel took off, and that brought in money, plus it drew more students to her premium courses, which her company, XelPlus, continues to offer. With the company growing, her husband left his position as a chief financial officer to join her. They brought on an editor and a writer, too.

Many of Gharani’s YouTube videos detail parts of Excel. That doesn’t mean she completely ignores the competition. One of her more popular videos in 2020 was called “Google Sheets BEATS Excel with THESE 10 Features!”

Like Stratvert, Gharani has heard from Microsoft employees. After she posted a video on the Whiteboard app, a program manager said the team loved her video and offered to show her updates that were coming soon. The program manager didn’t tell her to make a video but instead wanted to see if she thought the enhancements would be video-worthy, Gharani said.

She said users might ascribe greater authority to YouTube creators who work at Microsoft, unlike her.

“People appreciate that they’re at Microsoft,” she said. “‘They must know what they’re saying. They’re not going to say it if it’s not true. That authority thing does come with it. But not a lot.”

Jason Sele makes YouTube videos from a high-tech RV.

Jason Sele

It hasn’t stopped Gharani from growing into a major entity. She boasts more subscribers than almost all of Microsoft’s YouTube accounts. The Xbox channel remains a top attraction, with over 4 million subscribers.

Sele would love the type of YouTube success that Gharani and Stratvert have had. Videos of his that contain tips and tricks on Excel and other applications have received more than 1 million views, but he’s not an on-camera star. Sele, who makes videos from his RV after 25 years of exposure to Microsoft products as a director of information technology, narrates while giving all the visual attention to the video feed from his computer. He said he spends time carefully writing and editing scripts before hitting record. The YouTube money is enough to live on, he said.

He said he isn’t worried about competing with Microsoft. “They’ll crank out all this training, but it really isn’t training you can just hand to your employees,” he said. “It’s either too high-level or low-level.”

Entertainment

While YouTube has no shortage of software walk-throughs, YouTube is more than just a destination for careful learning. It’s a venue for entertainment. Gharani gets that.

“It’s more passive, they don’t have to really concentrate,” she said of people who watch her videos. “They can let themselves also think about other things and come back and just watch and still get something out of it. You can’t get that out of writing.”

She strives to keep her YouTube videos moving along at a fast pace. She doesn’t want the videos to be too boring. Otherwise she won’t have many people watching.

“It’s not necessary that they actually learn something, but they just see the potential that they could learn something, or they feel like they’ve learned something,” she said. Her online courses have a different purpose. There’s no background music, they’re slower, and there’s less of her talking on camera.

The thumbnail images for her videos on YouTube always show her face, and her channel uses her full name, rather than some jumble of words such as OfficeIsSuperGreat, which helps her work stand out in search results.

The same can be said about Stratvert’s channel.

But his videos can be longer. Some run well past 20 or 30 minutes. He keeps them from becoming tedious by talking about how he uses software inside his made-up corporation, the Kevin Cookie Company. In one video about holding webinars in Teams, Kerry Stratvert made an appearance, posing as a Kevin Cookie Company employee who wanted to air her concerns. As the person running the meeting, he turned off her microphone and camera, demonstrating what webinar hosts can do in that situation in real life.

For years she had called Stratvert’s YouTube channel a hobby and pointed out that he hadn’t recouped the investment in production equipment. She didn’t think he could ever go full time. Then, last year, he did.

“It’s done extremely well,” he said. “My wife looks at that — ‘Oh, man, working at home, cranking out a video a day, maybe I should do this, too. Maybe I should pull together videos.’ Same with her sister, too.”

WATCH: These Big Tech investors discuss strategies, their Microsoft positions

Biden fires Social Safety chief Andrew Saul, a Trump appointed worker

New York businessman Andrew Saul testifies before the Senate Finance Committee during his hearing as Commissioner for Social Security Administration in the Dirksen Senate Office Building on Capitol Hill October 02, 2018 in Washington, DC.

Chip Somodevilla | Getty Images

President Joe Biden fired the social security chief on Friday after the official appointed by former President Donald Trump refused to resign.

The White House said Social Security Commissioner Andrew Saul “undermined and politicized” the agency’s benefits, including which justified his dismissal. Saul’s deputy, David Black, who was also appointed by Trump, resigned on Friday at the request of the White House.

“Since taking office, Commissioner Saul has undermined and politicized social security disability benefits, terminated the agency’s teleworking policy used by up to 25 percent of the agency’s workforce, failed to terminate the SSA’s relationships with relevant federal employee unions, including in the context of COVID- repaired. 19 Occupational safety planning, reduced protection from due process in appeal hearings and other actions taken that run counter to the agency’s mandate and the president’s political agenda, “the White House said.

However, Saul told the Washington Post that he would like to get back to work on Monday.

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“This was the first time I or my deputy knew about it,” Saul told the newspaper, referring to the email he received Friday morning from the White House Human Resources office. “It was a bolt of lightning that nobody expected. And at the moment it has left the agency in a state of turmoil.”

Saul, 74, is a longtime Republican donor, a former vice chairman of the New York Metropolitan Transportation Authority and a wealthy businessman who turned over women’s clothing company Cache.

The president named Kilolo Kijakazi, currently deputy commissioner for pensions and disability policies, as acting commissioner, a White House official told NBC News.

Kijakazi previously worked as a fellow at the Urban Institute, as a program officer for the Ford Foundation, and as a senior policy analyst for the Center on Budget and Policy Priorities. A search for the Commissioner and Deputy Commissioner will be carried out.

People spend some huge cash on yard swimming pools

The backyard pool has become a big money maker.

A combination of factors has fueled the trend for years. Many Americans are moving to the suburbs, migrating to warmer states, and increasingly trying to make their own farms better places to stay.

Retailers and distributors such as Leslie’s and Pool Corp. aim to capture the large and growing pool accessories market which is providing fairly steady revenue from consumers trying to keep their pool water from going green.

There are some short-term challenges – including a shortage of chlorine tablets, partly due to a major fire in a Louisiana factory that created a chlorine shortage that is limiting supplies and increasing prices.

In the longer term, setbacks on the housing market could limit the construction of new pools. But once a home has a backyard pool, the most economical thing to do is to maintain it, so maintenance-reliant companies are likely to see steady sales.

Individuals will want masks indoors as U.S. heads for ‘harmful fall’ with surge in delta Covid circumstances

People wearing protective masks shop in a Walmart store on May 18, 2021 in Hallandale Beach, Florida.

Joe Raedle | Getty Images

As the highly transmissible delta Covid variant continues to spread rapidly across the United States and elsewhere around the world, scientists and other health experts are warning that indoor mask mandates and other public health measures will likely make a return in the U.S. this fall.

The country, which just celebrated the Fourth of July with some of its first large gatherings in more than a year, is headed toward a “dangerous” fall season when delta is expected to cause another surge in new coronavirus cases, health experts say. Already the dominant variant in the U.S., delta will hit the states with the lowest vaccination rates the hardest — unless those states and businesses reintroduce mask rules, capacity limits and other public health measures that they’ve largely rolled back in recent months, experts say.

With new mutations discovered every few weeks, many scientists now predict that Covid will continue circulating around the world for at least the next two to three years, requiring nations to reinstitute public health measures on an ad hoc basis for the foreseeable future. Authorities in Australia, South Africa and Asia have recently reintroduced curfews or other measures to curb rising delta outbreaks. Japan just declared a coronavirus state of emergency in Tokyo and banned spectators at the Olympics. High vaccination rates in the U.S. and the warm summer months have bought the country some extra time, but outbreaks across the world are giving Americans a preview of what may come this fall.

Health workers chat near an ambulance at the parking lot of the Steve Biko Academic Hospital, amid a nationwide coronavirus disease (COVID-19) lockdown, in Pretoria, South Africa, January 11, 2021.

Siphiwe Sibeko | Reuters

“I could foresee that in certain parts of the country, there could be a reintroduction of indoor mask mandates, distancing and occupancy limits” in the coming months, said Lawrence Gostin, director of the World Health Organization’s Collaborating Center on National and Global Health Law.

He said he fears there will be “major outbreaks” in the U.S. this fall, especially in states with low vaccination rates.

“We are heading for a very dangerous fall, with large swaths of the country still unvaccinated, a surging delta variant and people taking off their masks,” Gostin added.

The warning from scientists and other health experts comes as many businesses and offices across the U.S. have largely done away with their mask requirements, social distancing and other pandemic-related restrictions.

Almost immediately after the Centers for Disease Control and Prevention said fully vaccinated people didn’t need to wear masks in most indoor settings in mid-May, Walmart and Costco followed suit, allowing fully vaccinated customers and employees to go maskless unless required by state or local laws. Likewise, Detroit automakers and the United Auto Workers union late last month agreed to make face masks optional for employees who are fully vaccinated.

A General Motors assembly worker loads engine block castings on to the assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, U.S. August 21, 2019.

Rebecca Cook | Reuters

Other businesses like Apple and Amazon are making a big push for most of their workers to return to the office in some capacity this fall as more Americans get vaccinated against the virus. Goldman Sachs workers returned to the office last month while Citigroup and JPMorgan expect their employees to come back on a rotating basis this month.

Confirmed Covid infections in the U.S. have dropped to their lowest levels since the beginning of the pandemic, averaging about 15,000 new cases a day over the last seven days from a peak of around 251,000 average new cases per day in January, according to data compiled by Johns Hopkins University. Hospitalizations and fatalities have also fallen, with Covid deaths averaging about 225 a day — down from a peak of more than 3,400 deaths a day on average in January.

If daily Covid cases should rise again in the fall, as health experts expect they will, some employers in states with low Covid vaccination rates may have to grapple with the difficult choice of reimplementing public health measures, such as wearing masks and social distancing, capacity limits, or sending office workers back home altogether.

There will be “two Americas,” said Dr. Paul Offit, a pediatrician and vaccine advocate who has served on advisory panels for both the Centers for Disease Control and Prevention and the Food and Drug Administration. “There is the vaccinated America and the unvaccinated America, and I think the unvaccinated America is about to pay a price for that.”

There are about 1,000 counties in the U.S. that have Covid vaccination coverage of less than 30%, mostly located in the Southeast and Midwest, CDC Director Dr. Rochelle Walensky recently said. The agency is already seeing increasing rates of infection in those areas due to the further spread of the delta variant.

That’s prompted some state and local health officials to reinstitute public health measures they had previously dropped.

In Mississippi, for example, where less than a third of the state’s eligible population is fully vaccinated, officials last week recommended that all residents continue to wear masks indoors as delta becomes the dominant variant in the state. About 96% of new Covid cases in Mississippi are among unvaccinated people, state health officials said on a call with reporters.

White House chief medical advisor Dr. Anthony Fauci said people may want to consider wearing masks in states like Mississippi where transmission is high and vaccinations are low, even if they are fully inoculated.

“Depending on your personal situation, you might,” Fauci said in an interview scheduled to air Friday with SiriusXM’s “Doctor Radio Reports” with Dr. Marc Siegel. “For example, someone who’s an elderly person who may not actually have a full robust protection, even though the protection is very, very high, or someone with an underlying condition” may still want to wear a mask, he said.

Anthony Fauci, Director of the National Institute of Allergy and Infectious Diseases at the National Institutes of Health (NIH), testifies before a Senate Health, Education, Labor, and Pensions hearing to examine an update from Federal officials on efforts to combat COVID-19 in the Dirksen Senate Office Building on May 11, 2021 in Washington, DC.

Jim Lo Scalzo | Getty Images

Officials in Los Angeles County, California, also recommended last week that “everyone, regardless of vaccination status,” wear masks indoors in public places as a precautionary measure.

Offit, who advises the FDA on Covid vaccines, said he expects several more states to reimplement indoor mask requirements this fall.

The United States is still “undervaccinated,” and states with low vaccination rates are likely to get hit the worst, Offit said. Less than half of the U.S., about 158 million people, has been fully vaccinated, with more than a dozen states fully immunizing less than 40% of their populations, according to CDC data. In Texas, the second-most-populated state behind California, just 42% of its residents are fully inoculated, the data shows.

Even people who are fully protected have cause for concern when it comes to Covid variants, Offit said. While the vaccines protect well against severe disease and death, they may not protect as well against mild disease or spreading Covid to others, he said. No vaccine is 100% effective, he noted.

“It is not a bold prediction to believe that SARS-CoV-2 is going to be circulating two or three years from now. I mean there are 195 countries out there, most of which haven’t been given a single dose of vaccine,” Offit said. “Will it still be circulating in the United States? I think that would be very, very likely.”

Dr. Christopher J.L. Murray, director of the Institute for Health Metrics and Evaluation, agreed that more states will have to reimplement mask mandates this fall. More vulnerable Americans may even need to wear masks every year during peak Covid and flu transmission season: November to April, he said. However, he noted it may be difficult to get some Americans to use face coverings now that the pandemic has waned.

“Given pandemic fatigue, it is going to be harder to get most Americans to follow guidance on mask use and social distancing. When cases and hospitalizations begin to surge again, potentially not until the fall or winter, then it may be easier to persuade some to take measures to be careful,” he said.

People crowd outdoor dining at a restaurant as coronavirus disease (COVID-19) restrictions are eased in Ann Arbor, Michigan, U.S., April 4, 2021.

Emily Elconin | Reuters

Dr. Vin Gupta, a Harvard-trained lung specialist and NBC contributor, said mask requirements should be reimplemented this fall but enforced at the local level and dependent on what’s happening in the surrounding community with Covid vaccination rates and transmission.

“There has to be some specificity there and several local jurisdictions have to make their own decision, especially as the seasons shift and get back into cold, dry air,” he said.

In the meantime, the federal government’s mask mandate on public transportation, including airplanes, commuter buses and rail systems, is scheduled to expire Sept. 13 unless the CDC extends it once again.

Whether the CDC does so is an open question, scientists said. Walensky and the White House have both indicated that there is no desire to reinstitute lockdowns and will leave much of the decisions on public health measures up to the states.

“A lot of this isn’t science. It’s political science,” said Dr. Isaac Bogoch, an infectious disease professor at the University of Toronto. “If you have high rates of community transmission of Covid-19 and you have high rates of unvaccinated individuals, it makes sense to mask indoor from a scientific perspective. Whether or not that will be converted to policy is a different question.”

Zachary Levi is leaving ESPYS 2021 with alleged girlfriend

I’m sorry, ladies, but Zachary Levi can be taken this summer.

When the actor arrived at ESPYS 2021 on Saturday, July 10th, he wasn’t walking the red carpet alone. Instead, Zachary was able to pose with a supposed girlfriend Caroline Tyler.

The chuck star looked good in a brown suit with matching loafers and tie. Caroline opted for a sparkling white dress that turned heads for all the right reasons.

Before joining the show and handing the Los Angeles Dodgers the best championship moment, Zachary seemed to confirm romantic rumors when he republished Caroline’s Instagram story of them being captured holding hands in a New York park.

And for those who are already curious, Caroline’s Instagram is private, which makes this relationship especially mysterious. At the same time, some followers noticed that Zachary posed with Caroline – who also goes out from Carrie – in May.

In 2019, Zachary briefly discussed his relationship status during an interview with Access Hollywood. It was then that the actor confirmed that he was single.

Ex-NYSE President Tom Farley’s SPAC is merging with Bullish to make the deliberate crypto alternate public

Crypto start-up Bullish plans to go public for special purposes as part of a reverse merger with an acquisition company backed by Tom Farley, the former president of the New York Stock Exchange.

Farley’s Far Peak Acquisition Corp. SPAC rose more than 2% in late morning trading on the news.

The deal announced on Friday is slated to close by the end of 2021 – and Farley, who oversaw the NYSE from 2014 to 2018, will then become CEO of Bullish.

“This is a big idea whose time has come,” Farley said in an interview on CNBC’s Squawk Box shortly after the deal was announced.

“Digital assets are here to stay. The smartest engineering talents get into digital assets; digital assets solve very important problems. Anyone who tells you they know exactly how it will turn out is lying or deceiving. We’re going to see more and more interesting use cases, more and more dollars pouring into the area, “he added.

Farley’s plan to lead the cryptocurrency exchange is noteworthy given his experience with financial regulators from his time at the NYSE. The prospect of additional regulation in the US is being closely monitored by the crypto industry.

Bullish expects to receive approximately $ 600 million in revenue from Far Peak, plus an additional $ 300 million through a PIPE or private investment in public equity. A large number of well-known investors are attending PIPE, including BlackRock, the world’s largest asset manager, and Mike Novogratz ‘crypto-specialized financial services company Galaxy Digital.

The merger between Far Peak and Bullish implies a pro forma share value of around $ 9 billion, according to a press release.

Bullish intends to launch “a revolutionary, regulated cryptocurrency exchange” later this year, with a private pilot program scheduled to begin in the coming weeks, the press release said. The exchange will “provide deep, predictable liquidity with technology that enables private and institutional investors to generate returns on their digital assets,” the press release said.

Bullish started out in May as a subsidiary of Block.one, a blockchain company backed by well-known investors including Peter Thiel, a PayPal co-founder and prominent venture capitalist.

Thiel’s firms, Thiel Capital and Founders Fund, participated in Bullish’s capital increase in May. Other Bullish investors include British hedge fund manager Alan Howard, Galaxy Digital and Richard Li, a billionaire Hong Kong businessman.

The institutional rollout of Bitcoin and other cryptocurrencies was a big topic over the past year. Companies like Tesla and Square have invested in Bitcoin to help keep their balance sheets, and major Wall Street banks have taken steps to enable wealth management clients to get exposure to digital assets.

In April, the most popular U.S. crypto exchange, Coinbase, went public through a direct listing on the Nasdaq, a development heralded as a turning point for the emerging and emerging industries.

Coinbase’s debut in the public market coincided with Bitcoin’s current all-time high of near $ 65,000 per unit. However, the world’s largest cryptocurrency by market value has since struggled due to a number of factors including the Chinese government stepping up its crypto crackdown. Bitcoin traded below $ 33,000 on Friday morning. Last month it briefly plunged below $ 29,000, which is where it started the year.

Bitcoin and other cryptocurrencies like ether run on decentralized digital ledgers known as blockchains. While the digital asset industry has its tough critics, its supporters see the potential to disrupt traditional finance through the use of so-called smart contracts and other blockchain-related innovations.

In an April interview with CNBC, Farley said he believed the crypto space was “the best kept secret in the world and perhaps the history of financial markets.”

In 2015, when Farley was still president, the NYSE made a minority stake in Coinbase.

What the upcoming rubber ‘apocalypse’ means for the U.S. economic system

Rubber is a critical raw material needed for car tires, personal protective equipment such as masks and gloves, and many more everyday products. Anytime you’re going anywhere, you’re using rubber. Now, supply chain disruptions have thrown the rubber industry into a tailspin.

“We could be on the cusp of a rubber apocalypse,” Ohio State University professor Katrina Cornish told CNBC.

Rubber producers are facing climate change, the Covid-19 pandemic, a destructive fungus and the fight for shipping containers.

The global economy remains dependent on Asia for 90% of the natural rubber supply. For example, the U.S. imported $140 million worth of natural rubber in March 2021 alone, according to Census data.

The global natural rubber market was valued at nearly $40 billion in 2020, and demand for rubber is expected to increase. One analysis predicts the natural rubber market could be worth nearly $68.5 billion by 2026. One reason for the increased demand? Car tires.

“We are using tires more and more,” Stefano Savi, director of the Global Platform for Sustainable Natural Rubber, told CNBC. “The amount of mileage that we’re going to do as a global population is definitely bound to increase, and that’s why the demand for rubber is really continuing to increase.”

Watch the video above to learn more about why the natural rubber supply chain faces challenges, what natural rubber means for economies around the world, and what rubber innovations may look like in the future.