Work in progress (Source: Construction Photography / Getty Images)
Note: In this new section, we’ll break down the week’s headlines by-the-numbers.
- McDonald’s is planning to raise hourly wages for 36,500+ workers by 10% to $11-$17 for nonmanagers and $15-$20 for managers. In mid-2020, a US fast-food worker made a median hourly wage of $11.47.
- Clubhouse is no longer a packed club. The live audio app was downloaded 922k times in April, an 89% cliff dive from its February peak.
- There’s a pet boom: 12.6m US households got a new pet last year, and veterinary positions are expected to jump 16% by 2029.
- Bird is learning to fly. The electric scooter company is looking to go public via SPAC at a $2.3B valuation, with revenue forecasted to hit $815m in 2023.
- Canadian lumber poachers have illegally chopped down at least 100 trees as lumber prices soar across North America. They left their mark by carving a menacing face in 1 stump.
- Disney stock dropped after the company reported 103.6m Disney+ subscribers, lower than expected. The company now has ~159m total streaming customers, including 41.6m for Hulu and 13.8m for ESPN+.
- Numbers are down by the Bay. San Francisco saw a 26% decline in residential permits issued to build new homes last year. Statewide, new housing in California fell 10% in 2020.