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Airbnb Faces Criticism Amid Wildfires

As the raging California wildfires consume thousands of acres and displace tens of thousands of residents, Airbnb (NASDAQ: ABNB) is under heavy scrutiny for its response to guest cancellations and requests for relocation. The company’s alleged handling of a guest’s plea to cancel her reservation in Los Angeles has sparked outrage on social media, raising questions about corporate responsibility during natural disasters.

Southern California is once again battling devastating wildfires, with the Palisades Fire burning through over 17,000 acres of land in the upscale neighborhoods of Pacific Palisades, Malibu, and Santa Monica. Driven by strong winds and dry conditions, the fire has already forced the evacuation of more than 30,000 residents and shows no signs of slowing.

Local authorities have described the blaze as one of the most dangerous in recent years. Resources have been stretched thin as firefighters work around the clock to contain the flames, while residents scramble to evacuate.

You can read more on the matter here.

• Millions In Taxpayer Dollars Allegedly Used To Fund Anti-Conservative Research (theDeepDive)

• Beijing says it’s willing to deepen economic ties with Canada as Trump brings trade chaos (Globe)

• Ontario’s Doug Ford Pushes Pandemic-Style Spending to Combat Trump’s Tariffs (theDeepDive)

• US Companies Announced Fewest Hires in 2024 in Nearly a Decade (BNN)

• LA Fires Kill Five, Destroy 1,000 Buildings as Winds Rage (theDeepDive)

• Musk examines how to oust Starmer as UK prime minister before next election (FT)

• Tesla Faces Growing Crisis Over Failing Self-Driving Computers and Safety Concerns (theDeepDive)

• NY Prosecutors Ask Supreme Court to Let Trump Sentencing Proceed (Bloomberg)

• JPMorgan Joins Exodus of Big Banks Ditching Climate Alliance (theDeepDive)

• Lebanon Elects New President in Sign of Hezbollah’s Waning Influence (WSJ)

• Trump Signals Fresh Fed Tensions Ahead of Return to Office (theDeepDive)

• UBS reportedly nears settlement over Credit Suisse tax evasion case (Globe)

• Thailand Becomes AWS’s New Digital Hub with $5 Billion Investment (theDeepDive)

What’s the latest?

• Wildfires: Los Angeles is battling its worst wildfires in history, with six active blazes consuming over 26,000 acres and destroying hundreds of structures. At least five people have died, and over 100,000 residents have been evacuated, including celebrities whose homes were lost. Nearly 300,000 properties remain without power, and firefighting resources from six states are being deployed to assist. Dry conditions, Santa Ana winds, and water shortages are compounding the crisis, with red flag warnings in effect until Friday.

• Cocoa: Hershey is seeking CFTC approval to purchase over 90,000 metric tons of cocoa—nine times the current exchange limit—amid global shortages and record-high cocoa prices. Cocoa futures have tripled, causing market inefficiencies and a 70% decline in exchange-licensed stockpiles since May 2023. Hershey's request follows a forecasted fourth consecutive year of supply deficits, primarily due to poor weather and disease in top producers Ivory Coast and Ghana. Analysts suggest the move could mirror Hershey's 2020 market strategy to mitigate costs but highlight ongoing supply concerns for 2025.

• TikTok: The U.S. Supreme Court is set to hear arguments on TikTok's fate as it faces a law requiring its sale due to national security concerns. TikTok and its users argue the law violates free speech, while the Biden administration claims China's control over the platform poses a national security threat. President-elect Trump, who previously supported a TikTok ban, has called for a "political resolution" and a delay. The case is pivotal for millions of users, with potential implications for free speech, national security, and TikTok's operation in the U.S. A decision is expected soon.

• Google: Google donated $1 million to President-elect Donald Trump’s inauguration fund, joining Meta, OpenAI, Amazon, and Apple with similar contributions. Google's support includes a YouTube livestream and homepage link for the event. This follows antitrust scrutiny against Google and Meta's recent policy shifts, including removing fact-checking and relaxing content moderation rules, which Trump praised.

• Amazon: Amazon launched the Amazon Retail Ad Service, allowing U.S. retailers to use its ad technology on their own sites, with fees based on usage. Amazon's ad revenue hit $14.3 billion last quarter, behind Alphabet and Meta but significant for the company. Early adopters include iHerb, Weee!, and Oriental Trading Co., and retailers can customize ad design and placement while managing data via AWS. This follows Amazon's strategy of selling in-house tech, like AWS in 2006 and Buy With Prime in 2022.

What's next for mining w/ John Feneck

The stock market and stuff

• Equinox Gold Sees Record Production Of 621,870 Ounces In 2024, Meeting Guidance (theDeepDive)

• RBC partners with Cohere on AI financial platform (BNN)

• Lundin Gold Beats 2024 Production Guidance With 502,029 Ounces Produced (theDeepDive)

• Google donates $1 million to Trump’s inauguration fund, joining other tech giants (CNBC)

• First Majestic Hits Guidance With 2024 Production Of 21.7 Million Silver Equivalent Ounces (theDeepDive)

In the juniors

• Amplify To Shutter Cannabis-Focused US Alternative Harvest ETF (theDeepDive)

• Torex Gold Hits Guidance Despite Multi-Week Shutdown After Fatalities (theDeepDive)

• Endeavour Silver Produces 7.6 Million Silver Equivalent Ounces in 2024 (theDeepDive)

FULL DISCLOSURE: Lithium Chile is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Lithium Chile. The author has been compensated to cover Lithium Chile on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.