Let’s get stuck into the news you need to know from this week, delivered to you via carefully crafted and curated memes.

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Quote of the day

Jaguar undergoes controversial rebrand amid pivot to EVs

Jaguar, the iconic British car brand, sparked significant backlash on social media this week by unveiling a new rebrand.

The company, a subsidiary of Tata Motors under Jaguar Land Rover, is gearing up for its 2026 relaunch, exclusively featuring electric models. Jaguar stated that the redesigns aim to “preserve iconic symbols while making a bold leap forward.”

If by “bold leap forward”, they meant confuse/piss off a lot of people, they certainly succeeded.

While the controversy has drawn attention (likely part of the strategy), the company has emphasised that the true measure of success will be reflected in future sales figures. Meanwhile, Jaguar Land Rover continues its profitability streak, posting its eighth consecutive profitable quarter, despite flat revenue growth.

If you weren’t feeling bad enough about not having bought some Bitcoin back in 2016, then prepare to feel even worse about not having bought some Nvidia back then either.

With record-breaking revenue of $35bn (up 94% year-on-year) and projections exceeding $37.5bn next quarter, chipmaker Nvidia is surging ahead, driven by booming demand for its next-gen Blackwell GPUs.

The rise shows no signs of slowing, powered by AI’s insatiable demand for computing power. CEO Jensen Huang dismissed doubts about scaling laws—the principle that more compute leads to better AI—during Nvidia’s latest earnings call.

Skeptics question scaling’s future, pointing to OpenAI’s static GPT-4. But Huang argues that AI’s next frontier is inference—running advanced models like OpenAI’s step-by-step “thinking” o1, which requires massive computational resources. While scaling adoption poses challenges, Nvidia remains central to AI’s growth.

A Banana has sold at Sotheby’s for over $6 million.

The banana took centre stage in Maurizio Cattelan's 2019 conceptual artwork, Comedian, designed to be duct-taped to a wall. Accompanied by a certificate of authenticity (?) and instructions allowing owners to replace the banana as it rots, the piece embodies the artist’s signature wit.

After five intense minutes of bidding, starting at $800,000, Chinese-born crypto entrepreneur Justin Sun secured it with the winning bid, outbidding six competitors.

Spirit Airlines files for bankruptcy

Spirit Airlines, the largest U.S. budget carrier, filed for Chapter 11 bankruptcy protection on November 18, 2024, after accumulating over $2.5 billion in losses since 2020 and facing more than $1 billion in upcoming debt payments.

None of this stopped the CEO Ted Christie receiving a $3.8 million bonus payment just a week before declaring Chapter 11 bankruptcy.

The airline has struggled to adapt post-pandemic, contending with increased competition from full-service carriers and a failed merger attempt with JetBlue.

Despite the bankruptcy filing, Spirit plans to continue normal operations, assuring customers that flights, bookings, and loyalty programs remain unaffected.

The Pentagon fails its 7th audit, unable to account for over $800 Billion of its budget

The Pentagon has failed its 7th audit, unable to account for the majority of its $800 billion budget.

Fun fact, no major part of the Department of Defense (DOD) has ever passed an audit, according to recent congressional testimony by the non-partisan U.S. General Accounting Office (GAO), the investigative arm of Congress. [taxpayer.net]

Some of the GAO’s findings show some honestly quite impressive wastefulness:

• About 58% of the material the Pentagon possesses ($36.9 billion worth) are items it does not need.

• Over the past three years, the Navy lost track of $3 billion in equipment and other items.

• At one distribution centre for the Navy, there was a backlog of over 122,000 items that had not been properly processed, leading the Navy to purchase items it didn’t need.

Logan Paul accused of misleading fans over crypto investments

In news that will surprise absolutely nobody, influencer and self-proclaimed boxer Logan Paul is being investigated for allegedly profiting from the misleading of his fans regarding certain cryptocurrency investments.

New evidence from the BBC alleges that Paul promoted investments without disclosing his financial stake in them. His influence—bolstered by over 23 million followers on YouTube—appears to have driven price surges in these investments, raising concerns he may have benefited from selling tokens he owned.

Additionally, Paul is battling a multi-million-dollar lawsuit tied to CryptoZoo, a failed crypto project.

Despite denying any wrongdoing, Paul sent an impersonator to a BBC interview in an attempt to disparage the claims against him.

That’s all for today.

We’ll be back, bigger and better, next week.

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We carefully create, curate and craft the best memes to help you understand the world around you.

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See you next week.