Here are three things people are talking about in the markets this week.
Status update: worst day ever
Facebook is having a rough week. After news of a second-quarter revenue miss and disappointing daily active user count, its value dropped by nearly $120 billion. Data privacy and information handling are clearly paramount to users and investors alike – if big companies can’t get it together, are we looking at more sell-off issues like this?
Read all about it on CNBC.
What this means for you: Remember, if you aren’t paying for service, then you’re the product. This isn’t the first time that a big company has mishandled user data and it won’t be the last. When it happened with Equifax, we were shocked and confused, but ultimately beholden to the company because of its grip on our credit. With Facebook, it’s as easy as just closing your account and walking away.
The economy is looking up
The US Gross domestic product grew at a solid 4.1% in the second quarter, its best pace since 2014 – boosting hopes that the economy is ready to break out of its decade-long slumber. The GDP is the total value of goods produced and services provided in a country during one year. The US has been producing less and importing more in recent years.
Read more about the boost on CNN.
What this means for you: A strong economy is good for us all, there’s no denying that. We’ll see how long it lasts. Economists are generally predicting slower growth in the second half of the year, as the effects of the tax cut wear off and rising interest rates cut consumer spending.
Whalophin? Dolphwale? We’re working on it
A new species has been discovered off the coast of Kauai. In what sounds like old-timey insults, but isn’t, the new animal is a cross between a melon-headed whale and a rough-toothed dolphin.
Read the full story at HNN.
What this means for you: The discovery itself is cool, but how it was discovered is even cooler. Data scientists suspected they had an unusual species on their hands, so they tagged it and listened to it with acoustic collecting equipment through the Pacific Missile Range Facility. The value to getting that acoustic information is that now we’re able to understand how many species and what species are using the range, the frequency that they show up in the range, and what activities they do while there. Expect a lot more findings soon.