We’re in one of those news cycles where everything makes way for one dominant story, which right now is TikTok. Don’t worry—if you’re not fascinated by the to-ban-or-not-to-ban debate, it will eventually fade from the headlines. But not just yet: Instead, over the next few days, TikTok will become an even bigger story, as the House of Representatives is scheduled to vote on the ban-or-sell bill on Wednesday. Read down for our summary of today’s TikTok developments.
Otherwise, let’s catch up with the latest episode of the Allbirds soap opera, the story of how a comfortable-shoe startup became a Silicon Valley–beloved consumer brand before falling from grace after its IPO. When we last checked in last spring, as the company was grappling with sales declines, one of Allbirds’ co-founders and co-CEOs, Tim Brown, had stepped down. In this week’s episode, the company’s other co-founder and co-CEO, Joey Zwillinger, is exiting after just 10 months as the sole occupant of the top job. Things didn’t improve under his watch. Allbirds’ revenue fell 14.5% in the most recent quarter and about the same for the entire year, the company said today. And this year, Allbirds projects, revenue will fall as much as 25%.