One person was hospitalized in a scary crash at an EMS station in Raleigh on Tuesday morning. Authorities said a vehicle going down Varsity Drive lost control and slammed into three parked cars at the EMS station, flipping over.
One person was hospitalized in a scary crash at an EMS station in Raleigh on Tuesday morning. Authorities said a vehicle going down Varsity Drive lost control and slammed into three parked cars at the EMS station, flipping over.
Google Podcasts now lets you add shows through raw RSS feeds, helping you listen to indie shows that you'd otherwise have to skip.
Letitia Wright is speaking out after facing criticism for posting an anti-vaccination video on social media.
American Campus Communities (NYSE: ACC), the nation’s largest owner, manager and developer of student housing communities, released its Fall 2020 Student Resident Report today that provides insights into how students are coping with college life amidst the COVID-19 pandemic and how they are adjusting to primarily online learning. The report summarizes survey responses from more than 42,000 students, which confirms that students are wearing masks and making the most of online learning but lament the impact the pandemic has had on their college experience.
China is central to the WTA's plans for 2021 as women's tennis seeks to put a COVID-ravaged season behind it and hit the new year with a full bouquet of tournaments, tour chief Steve Simon told Reuters. The WTA lost more than half its events in 2020 after a five-month shutdown of the tour in March. Despite the financial strain, the WTA kept its entire workforce in place and with support from its main sponsors, the women's governing body said it is in a strong position.
The Canadian dollar strengthened to a two-year high against its U.S. counterpart on Friday as oil prices rose and data showed Canada's economy added more jobs than expected in November, with the currency on track to advance for the third straight week. Canada added 62,000 jobs in November and the unemployment rate fell to 8.5%, both beating analyst expectations, Statistics Canada data indicated. Separate data from Statistics Canada showed that Canada's trade deficit narrowed slightly to C$3.8 billion in October as exports grew at a faster pace than imports.
Socure, the leader in Day Zero identity verification, today announced that it has won the "Best New Technology Introduced over the Last 12 months – Data and Data Services" for its DocV and Intelligent KYC offerings, at this year’s American Financial Technology Awards (AFTAs). Hosted by WatersTechnology, the AFTAs recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities.
The negative takes on Corden cited the fact that he plays a flamboyant character.
(Bloomberg) -- Prospects for a pandemic relief package before the end of the year grew substantially as senior Republicans warmed to the idea of using a $908 billion proposal from a bipartisan group of lawmakers as a basis for a deal.The plan outlined by Republican and Democratic lawmakers in the House and Senate has emerged as the first real chance for a compromise that has eluded party leaders and the White House for months.Still, Senate Majority Leader Mitch McConnell hasn’t publicly thrown his support behind the plan, after having won President Donald Trump’s backing for his own, narrower proposal. That stance risks leaving him increasingly isolated as support shifts among Republicans eager to get some kind of agreement.With the clock ticking down to the year-end holiday break, legislators got a stark warning about the potential cost of inaction Friday morning, with a much weaker-than-expected November employment report. Thousands of Americans left the labor force amid the spread of Covid-19.The November jobs report on Friday showed that payrolls rose by 245,000, weaker than all but six of the 78 forecasts in Bloomberg’s survey. U.S. stock futures retained gains, and Treasury yields headed higher, as some investors pointed to rising chances of a stimulus deal.“It’s a reminder of how important the fiscal policy response needs to be, given the surge that we’re seeing across the nation in the pandemic,” Jeffrey Rosenberg, a senior portfolio manager at BlackRock Inc., said on Bloomberg TV.House Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer have already endorsed using the bipartisan proposal as the basis for negotiations. Several Republican senators, including South Carolina’s Lindsey Graham, a close ally of Trump, said Thursday that it contained elements for an agreement.Graham said he pitched it to the president, whose support would be crucial to get more Republicans on board.Trump Role“The president is of the mindset that we need relief sooner rather than later, and that the package that’s being talked about is well in the ballpark of what he would would support if it had the right policy provisions,” said Graham, who was at the White House for an event on Thursday. “If the president came out for it, you’d have a large number of Republicans and Democrats vote for it.”Trump earlier in the day had backed McConnell’s efforts, saying “they’re getting very close to a deal,” but made no direct mention of the bipartisan proposal.McConnell sounds “a little more optimistic, but I can’t say one way or the other what the outcome’s going to be,” said White House economic adviser Larry Kudlow on Bloomberg TV Friday. The bipartisan plan’s $160 billion in aid for state and local authorities is problematic, however, Kudlow indicated.“Senator McConnell has indicated that he’s not happy with that part of the bipartisan group” plan, Kudlow said. He declined to say whether Trump would sign a bill with that figure included. He said the president’s view is to enacted “targeted assistance.”Before Election Day, Trump had urged Congress to “go big or go home!” on stimulus, and said he wanted a stimulus package even bigger than Pelosi’s.The bipartisan plan hasn’t yet been turned into legislative text -- that won’t be finished until next week -- and an agreement will hinge on details that have hung up a deal in the past. Those include magnitude of aid to state and local governments, which many Republicans have opposed, and a Covid-19 related liability shield for employers, which Democrats have called a poison pill.The four GOP senators behind the bipartisan proposal met Thursday with McConnell. Alaska Senator Lisa Murkowski said it was a chance to “walk him through” the outline and provide more details. She indicated they left the meeting with no commitments from the GOP leader.Support Growing“We’re getting more and more support from Republicans and Democrats,” another member of the group, Utah Senator Mitt Romney said after that sit-down.“We’re continuing to negotiate an entire package that includes the full $908 billion -- that deals with state and local and liability coverage and extending the PPP program,” he said, referring to the Paycheck Protection Program that supports small businesses. “There’s transportation funding for airlines, for bus companies, for transit systems.”McConnell and Pelosi also talked on Thursday. That discussion covered a broader measure to fund government operations, which lawmakers are working to finish before money runs out Dec. 11, as well as pandemic relief.“We had a good conversation,” the Kentucky Republican said, without addressing the compromise proposal. “I think we’re both interested in getting an outcome both on the omnibus and on a coronavirus package.”North Carolina Republican Senator Thom Tillis, who isn’t part of the bipartisan group, expressed concern about how the state aid would be distributed, but said the proposal could be a “bridge” to getting the U.S. population and the economy back to health.“I think it’s a matter of working out the details,” he said.Pelosi and Schumer said that while they would seek some changes in the bipartisan plan as outlined, it was sufficient in enough areas for them to retreat from a pre-election stance in favor of a $2.4 trillion stimulus.The compromise pitch covers a shorter period of time than the leaders’ earlier proposal -- providing aid through the winter -- with Democrats hoping they can get another significant relief bill after President-elect Joe Biden takes office in January.Biden said in an interview with CNN Thursday that he believes the package should be passed, but that his administration will need more. “I’m going to have to ask for more help,” Biden said, adding “when we get there to get things done.”Schumer said Thursday that the U.S. risks a “double-dip recession” without a stimulus package.(Updates with Kudlow remarks starting in third paragraph after ‘Trump Role’ subheadline.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The European Union’s aviation safety agency has extended a ban imposed on Pakistan's state-run airline this year barring it from flying to Europe after a plane crash that killed 97 people in the port city of Karachi, a spokesman said Friday. At the time — and while the probe into the May 22 Airbus A320 crash was still underway — authorities acknowledged that nearly a third of Pakistani pilots, 260 out of 860, had cheated on their pilot’s exams. Pakistan International Airlines subsequently grounded 150 of its pilots while a probe by the country’s Civil Aviation Authority into the other pilots is still ongoing.
"I had advice from him, from my whole family," said the Miami-based 24-year-old, who is standing in at the Haas team for injured Romain Grosjean after the Frenchman's fiery crash. Emerson Fittipaldi, the first in a line of Brazilian champions, made his grand prix debut with Lotus at the July 1970 British Grand Prix at Brands Hatch and won the championship in 1972 and 1974. Pietro's great uncle Wilson also competed in Formula One in the 1970s.
(Bloomberg) -- The pound rallied on mounting speculation that Britain and the European Union are closing in on a Brexit trade agreement.Sterling advanced as much as 0.7% to $1.3539, reaching its strongest level since May 2018 with the help of broad dollar weakness, before paring gains. Traders’ sensitivity to Brexit-related headlines is heightened, with the cost of insuring a sudden swing in the pound against the euro climbing to the highest level since March.Hopes that the EU and U.K. can reach a deal before Dec. 31 have boosted the pound, which has risen over 9% against the dollar since June. Traders have taken their cues from over four years of Brexit drama to conclude a last minute resolution is likely.“People feel a bit jittery this close to the deadline, especially given how aggressive the resulting foreign-exchange moves could be in the event of a (potential) disappointment,” said Valentin Marinov, Credit Agricole SA’s head of G-10 foreign-exchange strategy. That’s why traders are loading up on volatility and buying the pound on dips.It’s the “FX trading version of ‘hope for the best and plan for the worst’ essentially,” he said.Despite a major dispute just hours before negotiators were expecting to announce an accord, diplomats are racing to save a deal between the U.K. and EU.Reversal RisksThe pound could see a “knee-jerk” advance of about 1% to $1.3650 on an agreement, before climbing to $1.40 next year, according to Nomura International Plc currency strategist Jordan Rochester. The currency will surge and “then follow through into Christmas as U.K. assets outperform,” he said, adding the weaker dollar and optimism over vaccine rollouts will further boost sterling.Still, chasing the pound higher comes with risks, with several analysts saying any gains from a deal may be short-lived. The last time sterling rallied above $1.35 was when U.K. Prime Minister Boris Johnson’s Conservatives won the general election one year ago. It failed to maintain those levels on the day and erased the entire rally in less than a week.Options also signal doubts about the way forward. The relative cost of hedging against a weaker sterling over the coming week is the highest in seven months, according to a gauge of positioning and sentiment.“The markets are expecting a bare-bones deal,” which could see the pound rise more than 1% to around $1.37 before dropping again, according to Derek Halpenny, the head of global market research at MUFG. “If there are some positive surprises, $1.38 to 1.40 is possible.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Yext shares are lower after Morgan Stanley saw 'risk of another downtick in net retention and new accounting rate of return.'
German auto supplier Continental said on Friday that a rebound in Chinese demand following a global slump in sales caused by COVID-19 is leading to a shortage of semiconductors that may cause supply-chain bottlenecks until 2021. "Although semiconductor manufacturers have already responded to the unexpected demand with capacity expansions, the required additional volumes will only be available in six to nine months," Continental said of the supply of semiconductors. Earlier on Friday, Volkswagen said China's overall auto production could be interrupted after the COVID-19 pandemic disrupted chip supplies globally for some electronic components.
Biden economic adviser Jared Bernstein has proposed a new way of looking at the unemployment rate that focuses on racial inequality.
Not for distribution to United States newswire services or for release publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.TORONTO, Dec. 04, 2020 (GLOBE NEWSWIRE) -- PsyBio Therapeutics, Inc. (“PsyBio”) and Leo Acquisitions Corp. (NEX: LEQ.H) (“Leo” or the “Company”) are pleased to announce the closing of the previously announced brokered private placement (the “Financing”) of subscription receipts (the “Subscription Receipts”) of PsyBio Therapeutics Financing Inc. (“Finco”), a special purpose British Columbia company incorporated solely for the purpose of the Financing and wholly-owned by the Chief Executive Officer of PsyBio, at a price of CAD$0.35 per Subscription Receipt for aggregate gross proceeds of CAD$14,493,394, approximately three times the original CAD$5.0 million target, with significant US and Canadian institutional investor support.Eight Capital acted as lead agent in connection with the Financing (the “Lead Agent”) together with Canaccord Genuity Corp. (together with the Lead Agent, the “Agents”) to offer the Subscription Receipts for sale on a “best efforts” agency basis.“We are extraordinarily pleased to have experienced such a successful financing working with Eight Capital and Canaccord Genuity Corp.” said Evan Levine, Chairman and Chief Executive Officer of PsyBio Therapeutics. “PsyBio is in the business of discovering and developing a portfolio of psychoactive medications and this offering, including the participation by prominent health care institutional investors, validates our vision that a paradigm shift for the treatment of mental health issues is long overdue.”Evan continued “Our proprietary biosynthesis drug discovery platform is expected to enable the rapid generation of highly stable compounds far cheaper, faster and greener than any other published method. The capital received from this offering will enable PsyBio to continue to work towards the discovery of new valuable target molecules, and further the movement of our products towards Investigational New Drug Applications.”The Company has filed patent applications relating to psilocybin and its intermediates and expects to file new patent applications over the coming year based on other hallucinogenic plants, fungi and non-natural compounds with psychoactive properties.Summary of the FinancingThe Financing was completed in connection with a series of transactions that will result in the reverse takeover of Leo by the shareholders of PsyBio (the “Transaction”). The Transaction will constitute Leo’s “Qualifying Transaction” as such term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange (the “TSXV”). Further details of the Transaction were previously announced by Leo on October 6, 2020, October 26, 2020 and December 2, 2020. References herein to the “Resulting Issuer” refer to Leo following the completion of the Transaction.An aggregate of 41,409,698 Subscription Receipts were issued in connection with the Financing. Each Subscription Receipt entitles the holder thereof to receive, upon the satisfaction or waiver (to the extent such waiver is permitted) of certain escrow release conditions (the “Escrow Release Conditions”) prior to the Escrow Release Deadline (as defined below), including all conditions precedent to the Transaction being satisfied, and without payment of additional consideration therefor, one common share in the capital of Finco (each, a “Finco Share”). On completion of the Transaction, each Finco Share underlying the Subscription Receipts will be exchanged for one subordinate voting share of the Resulting Issuer (each, a “Subordinate Voting Share”), all in accordance with the terms of the business combination agreement among the Company, PsyBio and Finco, 1276949 B.C. Ltd. and Eluss, Inc., dated December 2, 2020 (the “Definitive Agreement”) governing the terms of the Transaction.In connection with the Financing, the Agents are entitled to receive a cash commission of CAD$527,229 (the “Agents’ Commission”)and 1,506,368 compensation warrants (the “Compensation Warrants”),. Each Compensation Warrant is exercisable to acquire one Finco Share at the Issue Price for a period of 24 months from the satisfaction of the Escrow Release Conditions (the “Exercise Period”). Upon completion of the Transaction, each holder of Compensation Warrants will receive Subordinate Voting Shares in lieu of Finco Shares upon exercise of the Compensation Warrants, including the payment therefor. The Agents are also entitled to receive, in connection with certain advisory services provided by the Agents pursuant to the terms of an advisory agreement among the Agents and Finco, cash advisory fees of CAD$374,000 (the “Finance Fee”) and 1,069,000 advisor warrants (each, an “Advisor Warrant”), with each Advisor Warrant having the same characteristics as the Compensation Warrants. On closing of the Financing, the Agents received payment of 50% of the Agents’ Commission, 50% of the Finance Fee and were issued all of the Compensation Warrants and Advisor Warrants. The remaining 50% of the Agents’ Commission and 50% of the Finance Fee will be paid to the Agents upon escrow release.The gross proceeds of the Financing (less an amount equal to 50% of the Agents’ Commission, 50% of the Finance Fee, and all of the reasonable costs and expenses of the Agents in connection with the Financing) (the “Escrowed Funds”) have been deposited in escrow with the subscription receipt agent until the satisfaction of the Escrow Release Conditions, including that all conditions precedent to the Transaction have been satisfied or waived.In the event that the Escrow Release Conditions have not been satisfied by February 28, 2021, or such other date as Finco and the Lead Agent may determine (the “Escrow Release Deadline”), or Finco advises the Lead Agent or announces to the public that it does not intend to satisfy the Escrow Release Conditions, or that the Transaction has been terminated in accordance with the terms of the Definitive Agreement, the aggregate issue price of the Subscription Receipts together with any earned interest shall be returned to the applicable holders of the Subscription Receipts (net of any applicable withholding taxes), and such Subscription Receipts shall be automatically cancelled and be of no further force and effect.All Subscription Receipts issued in connection with the Financing are subject to a statutory hold period in accordance with Canadian securities laws. Following completion of the Transaction, the Subordinate Voting Shares received upon the exchange of Finco Shares underlying the Subscription Receipts will not be subject to a statutory hold period in Canada.Upon completion of the Transaction, the proceeds of the Financing are anticipated to be used principally to fund the Transaction, and for research and development, manufacturing, corporate and general working capital purposes.About PsyBio TherapeuticsPsyBio is a US-based biotechnology company developing a new class of drugs intended for the treatment of mental health challenges and other disorders. In collaboration with Miami University based in Oxford, Ohio, PsyBio has retained the global exclusive rights to a proprietary platform technology that biologically synthesizes psilocybin and other targeted next generation psychoactive compounds that are produced naturally in fungi and plants. Management of PsyBio expects that the technology will enable the rapid generation of these highly stable psychoactive compounds cheaper, faster and greener than other published methods. PsyBio was incorporated under the laws of the State of Delaware on January 21, 2020 and is not a “reporting issuer” under applicable securities legislation in any jurisdiction and its securities are not listed for trading on any stock exchange.About Leo AcquisitionsLeo was incorporated under the Business Corporations Act (Ontario) on October 28, 2009 and is a Capital Pool Company (as defined in TSXV Policy 2.4 – Capital Pool Companies of the Corporate Finance Manual). Leo is listed on the NEX board of the TSXV. Leo has no commercial operations and no assets other than cash.Cautionary Note Regarding Forward-Looking StatementsThis press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that: all applicable shareholder and regulatory approvals for the Transaction will be received; the Transaction will be completed on the terms set forth in this press release, on acceptable terms or at all; PsyBio will be successful in protecting its intellectual property within the next year and filing new patent applications within that timeframe; the Company’s success in discovering new valuable target molecules; the ability of PsyBio to obtain Investigation New Drug Applications; the satisfaction of the Escrow Release Conditions will be met; the use of the gross proceeds of the Financing will be as set forth in this press release; and the safety and efficacy of PsyBio’s technology and that such technology will be cheaper, faster and greener than other published methods. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: availability of financing; delay or failure to receive board, shareholder or regulatory approvals; compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting PsyBio’s business and results of operations; decreases in the prevailing process for psilocybin and nutraceutical products in the markets in which PsyBio and the Resulting Issuer will operate; the impact of COVID-19; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.PsyBio makes no medical, treatment or health benefit claims about PsyBio’s proposed products. The U.S. Food and Drug Administration (the “FDA”) or other similar regulatory authorities have not evaluated claims regarding psilocybin and other next generation psychoactive compounds. The efficacy of such products have not been confirmed by FDA-approved research. There is no assurance that the use of psilocybin and other psychoactive compounds can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. PsyBio has not conducted clinical trials for the use of its proposed PsyBio IP. Any references to quality, consistency, efficacy and safety of potential products do not imply that PsyBio verified such in clinical trials or that PsyBio will complete such trials. If PsyBio cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the PsyBio’s performance and operations.For further information contact: Evan Levine CEO, PsyBio Therapeutics, Inc. p: 513-449-9585 e: email@example.comGerry Goldberg CEO, Leo Acquisitions Corp. e: firstname.lastname@example.orgThis news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. All information contained in this news release with respect to the Company and PsyBio was supplied by the parties respectively, for inclusion herein, without independent review by the other party, and each party and its directors and officers have relied on the other party for any information concerning the other party.Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. The TSXV has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Summary “Brazil Breast Implant Procedures Outlook to 2025” is a comprehensive databook report, covering key procedures data on the Brazil Breast Implant Procedures.New York, Dec. 04, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Brazil Breast Implant Procedures Outlook to 2025 - Breast Augmentation Procedures and Breast Reconstruction Procedures" - https://www.reportlinker.com/p05988704/?utm_source=GNW The databook report provides procedure volumes within segments - Breast Augmentation Procedures and Breast Reconstruction Procedures. The Brazil Breast Implant Procedures report provides key information and data on - \- Procedure volume data for Breast Implant Procedures related to the country. Data is provided from 2015 to 2025. Scope Brazil Breast Implant Procedures is segmented as follows - \- Breast Augmentation Procedures \- Breast Reconstruction Procedures Reasons to Buy The Brazil Breast Implant Procedures report helps you to develop - \- Business strategies by identifying the key segments poised for strong growth in the future. \- Market-entry and market expansion strategies. \- Develop investment strategies by identifying the key segments expected to register strong growth in the near future. Read the full report: https://www.reportlinker.com/p05988704/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001
Consumer prices in Venezuela rose 65.7% in November, the opposition-controlled National Assembly said in a report on Friday, marking an acceleration in inflation in the crisis-stricken South American country. President Nicolas Maduro's government has stopped regularly publishing indicators as the economy has spiraled into hyperinflationary collapse. "Inflation continues to be one of the country's main problems," opposition lawmaker Jose Guerra, a trained economist, told reporters, attributing the uptick in inflation to the central bank's increased injection of liquidity into the economy to finance the government's deficit spending.
The Frenchman crashed in Bahrain last week.
The Giants made history by hiring Alyssa Nakken earlier this year. Gabe Kapler revealed that he interviewed other women this fall as he looked for a new pitching coach.
In a short time, Spotify Wrapped has become an unmissable end-of-year ritual. People can’t stop sharing and dissecting their feelings about their Wrapped playlists on Instagram and Twitter, discussing their music tastes with an earnestness and enthusiasm not usually seen on social media. Spotify first branded their personalized analysis of your yearly listening habits as Wrapped at the end of 2016 — but it wasn’t packaged in such a fun, bite-sized, social media-centered format until last year. Before it was presented on a microsite and sent out as an email link, but now the data pops up right in the mobile app in a customized video format that you can share to your Instagram stories with one click. While it seems like 2020 has been the year that every platform added an Instagram/Snapchat-like stories function (reminder that even LinkedIn has stories now), it’s easy to understand why they’d do so when you consider how the stories format is what truly unleashed the floodgates to Wrapped’s popularity. According to Forbes, last year “more than 60 million users engaged with the in-app story experience” in just a few weeks, and it was mentioned on Twitter over 1.2 million times. This year, you can hardly open a social media app without seeing mention of it. Both Wrapped and Instagram stories have been around since 2016, but Wrapped only started utilizing the format last year thanks to artist Jewel Ham, who was working as a Spotify design intern when she conceived of the idea, never knowing her work would become such a big part of Spotify’s current Wrapped iteration — and never getting the proper due for it. On Wednesday, Ham took to Twitter and revealed how she had developed the idea during a three-month summer internship at Spotify, posting elaborate design concepts of the Spotify Wrapped format we’ve become so enthralled by. i really invented the spotify wrapped story concept as an intern project in 2019 and they havent looked back since LMAO— jewel (@whateverjewel) December 2, 2020 i cant make this up! https://t.co/OMM1n6sK7u pic.twitter.com/TMHmNvlztk— jewel (@whateverjewel) December 2, 2020 “I was a person that had Spotify and loved Wrapped, but it was just a link they would send at the end of the year,” she recalls of the older versions. “It was just something that you personally knew about.” She re-envisioned the data as something much more interactive and communal, something that lived on social media and naturally fed into its ecosystem. “When I gave the presentation at the end of my intern project, it was received really well. They liked the idea. That was my last day.” Ham kept silent when it was first unveiled in 2019. “But this year, I feel like now that it’s gained some traction, it’s not as brand new, it’s so much more popular. I have seen so many memes about, Oh, how did you know I listened to so-and-so? Or I’ve seen so many people posting theirs, using them as horoscopes almost. It’s crazy. That simply was not there before.” When we reached out to Spotify for comment, the company denied that it was accurate to say Wrapped’s stories format can be credited to one intern, as hundreds of people work on Wrapped at the company. While it may be true that nothing as conceptually complex as Wrapped can be credited to one person, intern or otherwise, Ham’s contribution is clearly a key factor to its popularity. Ham’s reference to horoscopes is an apt one; more and more people have turned to horoscopes (and horoscope memes) not only because we enjoy knowing who we are — it’s more layered than that. It’s about the intersection of who we think we are, who others think we are, and who we actually might be. It’s a conversation, not just a statement. And conversations happen among multiple people, which is why, like a tree falling in an empty forest, if your Wrapped playlist drops and you don’t post it on social media, does it really make a sound? Spotify itself isn’t a social platform — it’s no Last.fm. But the company’s yearly tie-up of what you listened to has become a distinctly social activity, so much so that some even make a party game out of guessing which Wrapped playlist belongs to whom, or experience a not-insignificant degree of shame over whether their Wrapped playlist measures up to barometers of “cool.” The fact that this cultural moment was conceptualized by a then-20-year-old intern about to enter her senior year of college at Howard University is also a reminder of who internships actually serve. All too often, they’re portrayed as a favor to young people who don’t have a long résumé yet, a way to “get a foot in the door” and learn from great mentors, but in fact, it’s often a way for giant companies with well-paid executives to get cheap or free labor — and innovation. Ham wasn’t entirely surprised that her idea was adopted wholesale without so much as a thank you note. “This was not my first corporate position, so I know that’s not really the practice,” she says. “Because the reality is, at the end of the day, they legally have the right to. That’s the reason it’s such an issue.” “It’s not just Spotify personally. They’re cool people,” she continues. “But these corporations, they own all their intern content.” She did receive a stipend during her internship — a stipend that was more generous than what many companies may offer — but it’s no substitute for a real salary or other remuneration. “Stipend — that word alone doesn’t sound right for major ideas, but that’s it [for pay.] How would you have any idea when you’re onboarding that you’re going to create something so groundbreaking?” She says she worked independently from start to finish, without oversight from supervisors on the direction her project should take. The goal they assigned her was fairly broad: make Wrapped appeal better to Gen Z. It seems every company is clamoring to capture Gen Z’s attention and approval these days — even hiring Gen Z consultants to tap into their perspectives. But all too often, Gen Z labor goes unsung and unpaid. To be clear, Ham doesn’t want to make it sound like she didn’t enjoy her experience. “It was a good internship, and I had a good time,” she says. She loved the people she worked with. But it’s the extractive nature of internships that’s the core of the problem. “The things that I enjoyed the most about Spotify were very perk-related — they have a lot of snacks, they have nap rooms. But I feel like I have to distance myself a bit from all those benefits because that doesn’t translate into any type of compensation for such a large idea.” It’s easy to believe that these shiny apps with their sleek sans-serif logos are somehow innovative by their nature — due to a belief in tech utopianism, or that youngish tech companies foster ingenuity through their healthily-competitive, perk-heavy cultures and aesthetically pleasing offices. This image of cool can be incredibly alluring, working to draw in young, fresh talent who won’t be properly compensated in the end. The fact that people applying for internships are mostly young people without the experience to give them a better sense of their work’s value or negotiate for better terms, is exactly what deepens the power imbalance of internships. “You should be going for paid [internships], but it almost doesn’t matter how much you’re paid because it will never be enough,” she says. “When you’re coming up with ideas like that, that have reach like that, at an age like that? You can’t even put a dollar figure to it. If I were to sit in a corporate meeting, I would have no idea what to say, how much it was worth. But I know it’s exponentially more than the stipend.” “I’m hearing a lot of people saying, Oh, that’s what you do. That’s how companies work. I feel like the most dangerous thing to say is, That’s how it is because that’s the way we’ve always done it. That is not right,” says Ham. “It doesn’t make creative sense. The idea is what runs the company. However you execute it, that’s what’s driving the streams. It’s driving traffic to other artists, it’s bringing people together. I know for a fact that there’s a huge demographic of people that are on Apple Music, and they see their friends post their [Wrapped story] and they switch.” This certainly isn’t the first indication that Spotify doesn’t pay the artists integral to its business adequately. As of 2018, it was reported that the company paid music rights holders (not just artists specifically) between $0.006 and $0.0084 per stream. Music streaming platforms have come under fire in recent years for how little they pay artists. This past summer, Spotify CEO Daniel Ek faced backlash for an interview in which he stated that the rates they pay aren’t really the problem, but that some artists need to hustle and grind and produce more content. “You can’t record music once every three to four years and think that’s going to be enough,” Ek said. Ham recalls working extremely long hours on her Wrapped project because she felt so passionate about it. “I did so much overtime,” she says. “I remember the day before the presentation, I left the office at about 4 a.m. so I could shower and get back at 6.” The overtime was her choice, but it doesn’t change the fact that this was what it took to create a great idea. “I have an idea and I’m going to flesh it out — but I’m worth a stipend? It doesn’t sit right with my spirit.” Now, she realizes how passion can be a double-edged sword when you’re working with corporations that see you as the means to an end. “The more you get into it, especially when you find yourself really interested in the project — it’s almost dangerous. I really gave my all in the project because I love using Wrapped. I had ideas about it. For us, it’s such a genuine, Ooh, wouldn’t this be cool? But for them it’s a lot more… leechy. It’s more parasitic.” “It makes me question how people value creativity,” says Ham. “I find that a lot of people who are creatives are immediately recognizing this as wrong. But for people who are not, it feels as if we’re dispensable.” As an artist, Ham is no stranger to the concept of being paid in “exposure” or “clout” or other intangible things. “People will really trade anything for art other than compensation,” she says. “At the end of the day, the problem here is not that Spotify stole my idea. It’s that I gave it to them.” The way we treat labor, especially the labor of young people, and especially the labor of Black women, creates an environment where they often have few options but to “give” their work and their ideas. It’s not realistic to expect interns to negotiate the rights to their intellectual property, and the ubiquity of how many other interns have been in Ham’s shoes doesn’t dilute the fact that it isn’t equitable. “I really believe in working for yourself when you can,” says Ham. “Because personal creativity is powerful. It runs the world truly, especially Black women’s creativity. It runs the world.” Right now, Ham is a curatorial fellow at the Art Students League of New York and is also working on personal projects, which you can view and buy on her website. When asked whether there’s a running theme throughout her recent work, she answers, “Reparations.” “Really, this situation is about other people realizing that they’re eligible for reparations — to know their value, that the content and things they contribute are worthy,” says Ham. Like what you see? 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