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Adidas wants to cut ties with Kanye West

Adidas wants to cut ties with Kanye West

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“I can say anti-Semitic s*** and Adidas can’t drop me,” Kanye West he said during his now infamous anti-Jewish tirade during the Drink Champs podcast earlier this month.

With social media buzz focused on Adidas beer, Ye’s theory is now being tested.

Here’s the deal: The list of brands distancing themselves from the West is growing by the day. Balenciaga and Vogue publicly severed ties last week, and on Monday talent agency CAA dropped West as a client and production company MRC said it was shelving a West documentary. Now the scrutiny has shifted to the German sportswear giant and its long-standing partnership with the controversial artist.

Celebrities including Kat Dennings, Josh Gad and Meg Stalter he blasted Adidas for sticking with West. Detlef Schrempf, former NBA shooting guard and Adidas sponsor, wrote: “I have represented the 3 stripes throughout my career and beyond. @adidas needs to make a statement NOW! Cut off all contact with @kanyewest until he gets psychiatric help, but why wait? Finish now. It won’t change #erasethehate.”

The ADL’s Jonathan Goldblatt released a statement aimed directly at Adidas on Monday, calling its failure to cut ties with West “pathetic.”

The pressure on Adidas increased this weekend after a group of neo-Nazis put up banners on the 405 Freeway in Los Angeles saying “Kanye is right about the Jews.”

“Today on the 405 in Los Angeles. We are waiting for @adidas,” it says Tweet by Shannon Watts in response to the incident which received more than 100,000 likes.

Earlier this month after West wore a “White Lives Matter” T-shirt in public, Adidas said it was reconsidering its lucrative partnership with his Yeezy brand.

“After repeated efforts to resolve the situation privately, we have made the decision to put the partnership under consideration,” the apparel maker said in a statement. “We will continue to co-manage the current product during this period.”

Conclusion: From that statement, West came out and explicitly targeted Jews in shocking public statementsbecoming the most prominent openly anti-Semitic public figure in a generation.

With pressure mounting and West’s anti-Jewish campaign continuing, it appears to be a matter of when, not if, Adidas will cut ties.

Big number

730 million pounds

Incoming British Prime Minister Rishi Sunak Net Worth is approaching the club three notches. The former banking executive and his wife Akshata Murty, the daughter of an Indian billionaire, are worth a combined £730 million, or roughly $824 million, according to the figures Sunday Times rich list.Richer than royalty” is how the Washington Post describes the couple’s enormous wealth.

Zuckerberg’s meta-headache

Altimeter Capital Chairman and CEO Brad Gerstner published an open letter To Matt and Mark Zuckerberg who called on the company to “direct and focus its way forward.” In other words: limit the gigantic piles of cash being used in the service of Zuckerberg’s wobbly vision of the metaverse.

“Like many other companies in the zero-rate world – Meta has drifted into the land of excess – too many people, too many ideas, too little urgency,” Gerstner wrote. “This lack of focus and fitness is obscured when growth is easy, but deadly when growth slows and technology changes.”

Gerstner’s prescription for Meta, which he says has “lost investor confidence,” is a three-step plan.

1. Redundancies
2. Reduce capital expenditures from $30 billion to $25 billion
3. Limit your metaverse investment to “no more than $5 [billion] annually.”

Gerstner is not the only one who is metasceptical. Bank of America degraded company from buy to neutral Monday, citing in part Zuckerberg’s investment in the metaverse (which the bank called “too high.”)

Let’s go back: In an interview with The Verge’s Alex Heath earlier this monthh, Zuckerberg admitted that there used to be rock bottom interest rates – remember those? — enabled his strategic shift in 2021 in a way that might not have worked in 2022.

“There’s a part of me that thinks it would actually be a lot harder, and probably not accepted, to release this vision this year than it was last year given where the world is,” Zuckerberg said.

Zuckerberg is not wrong, the economy of 2021 is now a distant memory. While burning through huge piles of cash has long been what it takes to make a move in Silicon Valley, it’s simply not sustainable anymore in a world of high inflation, high interest rates, and declining tech value.

So how long can Zuckerberg continue to pump money into the metaverse with little or no results for it?

Meta will announce third quarter results on Wednesday. Expect investors to take a close look at all the metaverse-related numbers in the report.

What else is going on?

Rail strike: he is not dead yet. The labor contract brokered by the Biden administration last month is on thin ice over a dispute over paid time off with regular members of several key unions. The results of the final round of ratification votes should be announced in mid-November.

Chick-Fil-A is the most popular restaurant among Generation Z, according to Piper Sandler’s annual survey among under-16s. Starbucks took second place, followed by Chipotle and McDonald’s.

WSJ considers Lego’s controversial packaging change, making it difficult for potential collectors to identify which pieces are inside. Some hip terminology: AFOL – adult Lego fans and TFOL – teenage Lego fans.

“What would a nation of sports gamblers look like?” Jay Caspian Kang explores America’s booming new (old) industry. As a Californian, I can tell you that Prop 27 ads are inevitable right now.

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#Adidas #cut #ties #Kanye #West

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