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Rob Walker – Medium


Here’s what the surprise Square acquisition of Tidal is really about
Twitter CEO Jack Dorsey testifies remotely during a hearing to discuss reforming Section 230 of the Communications Decency Act with big tech companies on October 28, 2020 in Washington, DC. Photo: Greg Nash/POOL/AFP/Getty Images
In a deal that basically no one was anticipating, payment service Square announced yesterday that it will acquire a majority stake in Tidal, the music-streaming platform co-owned by Jay-Z, for $297 million in cash and stock. Square CEO Jack Dorsey revealed the acquisition on Twitter — the other company he runs — where he preemptively raised the obvious reaction: “Why would a music streaming company and a financial services company join forces?!” ....

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The Problem With the Peloton Economy


Photo: Ezra Shaw/Getty Images
It’s been widely indeed, endlessly noted that Peloton has been a rare “winner” of the pandemic. With gyms reeling, many have opted for the high-tech home bike system, which involves a $1,900 piece of hardware and a $39 monthly subscription for custom exercise classes. The latest dramatic twist: Now the eight-year-old publicly traded company is reportedly “threatened” by its own struggles to meet the demand and fulfill orders for impatient customers. “The hype surrounding Peloton is like no other,” one analyst told the
This insulated slice of America the million or so Peloton owners and their professional-class peers Zooming and home-ordering from Whole Foods through the pandemic recession is the Peloton Economy. It’s gotten quite a bit of attention in a year when health and economic forces have simultaneously upturned and ended lives month after month. But ultimately, we need to face up to the fact that the Peloton Eco ....

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