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Trouble at Google?

A post shared on LinkedIn by Diane Hirsh Theriault, the technical lead/manager for metrics engineering on Google News, has ignited a conversation around Google’s internal challenges. Theriault’s reflections on the company’s leadership, project management, and recent layoffs paint a picture of employee frustration and corporate unrest.

Theriault begins by asserting a critical viewpoint on Google’s leadership, stating, “Google does not have one single visionary leader. Not a one.” She extends this criticism across the corporate hierarchy, from the C-suite to the Senior Vice Presidents (SVPs) and Vice Presidents (VPs), characterizing them as “profoundly boring and glassy-eyed.”

You can read more on the matter here.

What’s going on?

• Bank of Canada Maintains Interest Rates At 5% Again At January Meeting (theDeepDive)

• Bank of Canada holds key rate at 5%, signals it's done with hikes (BNN)

• Billy McFarland’s ‘Final Pre-Sale Tickets’ For Fyre Festival II Go Up To $1 Million … But He Still Doesn’t Have A Lineup (theDeepDive)

• SEC to vote today on tough new rules for blank-check ‘SPAC’ companies (CNBC)

• Federal Court Rules Trudeau’s Use of Emergencies Act On Truckers Unconstitutional (theDeepDive)

• With Oregon facing rampant public drug use, lawmakers backpedal on pioneering decriminalization law (APN)

• Ukraine To Use American Technology To Build More Nuclear Power Plants In 2024 (theDeepDive)

• Los Angeles Times slashes more than 20% of newsroom staff as the paper confronts a ‘financial crisis’ (CNN)

• CSIS Is Investigating A Conservative Nomination Vote (theDeepDive)

What’s the latest?

• Interest Rates: The Bank of Canada maintained its policy rate at five per cent for the fourth consecutive time, signaling a shift from considering further rate increases to maintaining the current rate. Governor Tiff Macklem indicated that if the economy evolves as projected, discussions will focus on how long to keep the rate at five per cent. This decision reflects a slowing economy and confidence that previous rate hikes are adequate to control inflation.

• China Cuts Video Game Curbs: About 25% of small businesses with outstanding loans from the Canada Emergency Business Account (CEBA) failed to meet the repayment deadline of January 18, according to the federal government. The CEBA program, launched in 2020, was designed to support businesses impacted by COVID-19 restrictions.

• Factory Homes: The Canadian government is focusing on factory-built homes to quickly boost housing supply. Analysts however highlight regulatory barriers, such as slow approval processes by regulators, which undermine the speed advantage of modular homes. This approach is part of an ambitious strategy to address the estimated shortage of 3.5 million homes in Canada by the end of the decade.

• Social Media Bank Runs: The European Central Bank has advised certain banks to intensify monitoring of social media activities to detect potential shifts in public sentiment that could lead to a deposit run. This increased vigilance follows the collapse of Silicon Valley Bank and Credit Suisse in March last year. A particular incident in October 2022, where a social media post by a journalist sparked a significant withdrawal of funds from Credit Suisse, has underscored the impact of social media on financial stability.

• GPS Problems: The aviation industry is urgently addressing GPS "spoofing" concerns, a phenomenon that can mislead commercial airliners, due to increasing incidents linked to conflicts in Ukraine and the Middle East. A key meeting in Cologne, Germany, organized by aviation agencies, will gather various stakeholders to discuss potential solutions. The surge in spoofing activities, which involve sending false GPS signals that can disrupt aircraft navigation, has been reported in regions like the Middle East and the Black Sea.

The Red Sea crisis

The stock market and stuff

• Aurubis Overhauls Leadership in Wake of $184 Million Raw-Material Scam (theDeepDive)

• Microsoft hits $3 trillion market value (Reuters)

• Grayscale Bitcoin Trust ETF Bleeds $515 Million On Tuesday (theDeepDive)

• Tech’s ‘Magnificent Seven’ Stocks Are Back on Top (WSJ)

• Bitcoin Falls Below $40,000 Following ETF Disappointment (theDeepDive)

• U.S. crude oil rises more than 1% after winter storm hits domestic production (CNBC)

• FTX Blamed For $1.0 Billion In GBTC Outflows (theDeepDive)

In the juniors

• Planet 13 Struggles To Recover Tens Of Millions In Lost Cash (theDeepDive)

• Tilray Closes Purchase Of Molson Coors’ Interest In Truss Beverage (theDeepDive)

• Denison Mines: Uranium Mining To Resume At McClean Lake After 16 Year Hiatus (theDeepDive)

• Emerge Commerce Sells WholesalePet To Tiny For US$9.25 Million (theDeepDive)

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