This ad features the @Yahoo logo (I'm sure without their permission) as well as the name and likeness of Cathie Wood (I'm sure without her permission).
The ad purports to be some kind of screenshot of an actual Yahoo article. But the headline on the article in question is this:
"Cathie Wood expects ARK Invest picks to return up to 40% over 5 years despite 2021 slide — 3 tech stocks she champions could get you in on a rebound"
Here's a link to the article and an actual screenshot of what it looks like yahoo.com/now/cathie-woo…
Here's the bottom of the article, which, if you chop it up enough and move enough things around, kindasorta has the wording (but not the photo) that Masterworks uses in its ad. Note that the words "dream investment" don't appear at all.
The article seems to have been written by @ClayJarvis5; I'd love to know what he thinks of this ad, whether he thinks it fairly represents his piece, and whether anybody from Masterworks reached out to him before they ran it.
I'd also love to hear from @scottlynn@sophieishere@MichaelJWenner about why they think the best way to promote their billion-dollar company is to promulgate made-up Yahoo headlines while inviting lawsuits from both Yahoo and Cathie Wood.
It's also fascinating to me that this ad managed to circumvent Twitter's own brand-safety defenses. If I was Yahoo or Cathie Wood, I'd be upset at Masterworks, but I'd also be upset at Twitter for allowing Masterworks to run this ad.
Oh wow! Layers upon layers here: It turns out that the "Yahoo" article being quoted is in fact Masterworks SponCon. (Which, there's zero indication of that fact on the Yahoo site.)
UPDATE: Yahoo has now taken down the article entirely. It also seems like Masterworks has tweaked its ad, while still keeping both the Yahoo logo and Cathie Wood’s name in there.
@mfriedenberg@aagalloni@Justin_B_Smith@benyt The value exchange could be enormous on both sides. The Smiths need a plan for what they're going to do when they're sued in any one of dozens of jurisdictions; Reuters can be very helpful there.
Meanwhile, Reuters needs to be able to have a compelling consumer-facing product by the time the Refinitiv money runs out in 2048. They can't count on building it internally; they've tried and failed many times. The Smiths' product could be exactly what they're looking for.
CEOs communicate down, to their employees, and also out, to the world. They’re generally the main spokesperson for the company.
Individual experts within the company are sometimes asked to talk about their area of expertise, while also communicating up to their managers. Out and up is ok.
Trying to work out what this could be. “A successful enforcement action, as well as two related actions, by a U.S. federal regulator and a foreign regulator.” In the amount of about $1b-$2b. cftc.gov/PressRoom/Pres…
I mean, if the CFTC is going to put out blind-item press releases, of course we’re all going to start guessing
But I’m having difficulty thinking of anything recent and CFTC-adjacent that reached $1 billion or more
I have a story out this morning about the staggering amount of unemployment fraud that has happened over the past year — as much as $400b. A quick 🧵: axios.com/pandemic-unemp…
First, yes, this data comes from security companies with skin in the game — ID.me and LexisNexis. Also, crime statistics are always fuzzy. There's nothing here that's precise. On the other hand, government sources aren't disputing these numbers.
The big picture is that unemployment fraud has become systematized. It's sold on a SAAS basis on the dark web, and it's operated by very sophisticated international syndicates in Russia, China, Nigeria, and increasingly Romania.
I’m genuinely interested: Who is the man on the left, and what does the $2.1m number refer to?
Ed Ruscha’s “Hurting the Word Radio #2” was bought directly from the artist in the early 70s by Joan & Jack Quinn, for much less than $2.1m; they sold it for $52m.
cc @MasterworksIO who might be able to shed some light on this
My free idea for Substack: Allow people to pay for emails they’ve read and enjoyed, rather than forcing them to only pay for emails that haven’t even been written yet.
A subscription is a big commitment. But when I read a great email like @CaseyNewton’s yesterday, I would love to pay him a buck or two to say “thank you for doing that reporting, this was great.”
An ex-post payment system has other advantages. For one thing, it encourages broader distribution, rather than paywalls. For another, it’s a great real-time indicator of what your audience loves and values and wants to read more of.