🐦 Twitter’s whistleblower woes

…and nuclear-tech startups are attracting big venture $$ [Disclosures](   Twitter’s latest twist (John Nacion/Getty Images)   Yesterday’s Market Moves   Dow Jones 32,910 (-0.47%) S&P 500 4,129 (-0.22%) Nasdaq 12,381 (+0.00%) Bitcoin $21,507 (+0.51%) Dow Jones 32,910 (-0.47%) S&P 500 4,129 (-0.22%) Nasdaq 12,381 (+0.00%) Bitcoin $21,507 (+0.51%) Hey Snackers, Heading back to Westeros: same time, same place. GOT’s "House of Dragons" prequel had a crown-worthy premiere Sunday night, including a viral [video]( showing NYC apartments lighting up in sync with the show’s opening scene. Stocks barely budged yesterday, with the Dow ticking down for a three-day losing streak. Meanwhile, crypto’s market cap fell below $1T as [bitcoin]( has dropped this week. Privacy Twitter could face a fallout after its ex-security chief said the company has troubling security issues Flying the coop… [Twitter’s]( in the spotlight (again) after a [newly released]( whistleblower report alleged that the company’s security policies aren't… secure. Last month, its former security chief Peiter Zatko filed a 200-page report accusing the blue bird of everything from reckless cybersecurity negligence to underreporting spam-bot accounts. Zatko had joined Twitter in 2020 to help build its security division but was let go in January for “poor performance.” - Zatko says: More than half of Twitter’s 500K servers are using out-of-date software, and over a quarter of staff computers have disabled important security updates. - Twitter says: The report paints a “false narrative” of the company, and security and privacy issues have “long been company-wide priorities.” - The report comes at a convenient time for Elon Musk, who recently subpoenaed Twitter’s founder and former CEO for docs that might support his attempt to back out of buying the company. - Twitter shares fell 7% yesterday after the news, ending the Musk-related rebound. Twitter’s security snafus… are piling up. In 2020 it [suffered]( a major celeb hack that compromised blue-check accounts from President Biden and Kim K to [Uber]( and [Apple](. Despite ramping up security, the company had another hack last month that [exposed]( the data of 5M+ users. THE TAKEAWAY Losing trust is costly... and Twitter could suffer if the claims are determined to be true. The report’s being reviewed by FTC regulators, who could impose pricey penalties if warranted. In May, Twitter agreed to pay the FTC $150M for violating a 2011 rule that prohibited the company from profiting from deceptively collected user data. ICYMI: In 2019, the FTC hit [Facebook]( with a record $5B penalty for violating consumer privacy. Fuse Nuclear-power startups are having a banner year as energy prices soar with the world’s electric needs Nuclear options... As the world grows hungrier for electricity, interest in nuclear-power innovation has exploded: over the past year, venture-capital investors have poured [$3.4B]( into nuclear fusion and fission startups. Refresher: - Fossil fuels were the US’s main sources of electricity generation last year. Natural gas provided 38% of its electricity, while coal made up 22%. - But nuclear isn't far behind... Nuclear energy powered nearly 20% of America’s electricity (the same as renewables like hydroelectric and wind). - Fission: All nuclear power plants currently produce electricity from nuclear fission (think: splitting atoms), but it's considered nonrenewable because it requires uranium. - Fusion is much harder to produce but generates significantly more power than fission and produces zero greenhouse-gas emissions (#renewable). A distant dream?... No one has yet developed a commercially viable fusion power plant. The process is hard to create and control — and it's extra-pricey. Now, nuclear-tech companies are raising big rounds to innovate: - Bill Gates’ TerraPower raised [$750M]( last week in its quest to fight the climate crisis with “carbon-free advanced nuclear energy” and treat cancer with nuclear isotopes. - Commonwealth Fusion Systems has raised nearly $2B over the past year to further its ambitious goal of building a compact fusion power plant. - General Fusion [said]( this month that it’s cracked the code to building the world’s first commercially viable fusion plant, and is planning a demonstration facility in the UK. - Helion Energy, which aims to build the first fusion generators and enable “a future with unlimited clean electricity” has raised nearly $600M in the past year. THE TAKEAWAY High potential ≠high viability… If fusion can be successfully commercialized, it has the potential of generating nearly unlimited supplies of low-carbon, low-radiation energy — threatening the dominance of oil giants. But that’s a big if. While fusion breakthroughs have been made, some [estimate]( it could take decades to achieve at scale… if ever. What else we're Snackin' - [Pigskin]( Just in time for the kickoff of NFL season (in two weeks): [Amazon Prime]( sealed a deal with DirecTV to broadcast “Thursday Night Football” games in 300K+ US bars and restaurants. The Zon has exclusive rights for 11 seasons. - [Spendy]( The chips are down: [Intel]( signed a $30B funding deal with [Brookfield Asset Management]( to finance the construction of new US chip factories. The companies plan to share revenue from the plants. - [Discount]( Shoppers aren’t splurging like they used to: [Macy’s]( lowered its full-year forecast despite strong sales, fearing consumers will spend less on discretionary products like fleece pajamas. - [Zucked]( If imitation is the sincerest form of flattery, then BeReal must be blushing. Instagram is testing a feature called “IG Candid Challenges” that mimics BeReal’s no-filter “come as you are” selfie format. - [Birdie]( [Dick’s Sporting Goods]( is teeing off on its rivals: the sports superstore raised its annual profit forecast after second-quarter earnings topped estimates thanks to strong golf and footwear sales. 🍪 Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. Snack Fact Of the Day Europe is experiencing its worst drought in at least 500 years [Read more]( Wednesday - Earnings expected from NVIDIA, Salesforce, Williams-Sonoma, and Petco Authors of this Snacks own: bitcoin and shares of Twitter, Amazon, Apple, Nvidia, and Uber ID: 2393797 Robinhood Snacks newsletters reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member [SIPC]( and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. 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