On December 23rd, 2020, Pavel Durov posted to his channel that the company would need to start generating revenue. In early 2021, he added that any advertising on the platform would not use user data for targeting, and that it would be focused on “large one-to-many channels.” He pledged that ads would be “non-intrusive” and that most users would simply not notice any change. That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were ugly—and out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that it’s on a sustainable path higher. Higher long-dated bond yields make future profits less valuable—and many tech companies are valued on the basis of profits forecast for many years in the future. "The result is on this photo: fiery 'greetings' to the invaders," the Security Service of Ukraine wrote alongside a photo showing several military vehicles among plumes of black smoke. "He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Maréchal said. "Like the bombing of the maternity ward in Mariupol," he said, "Even before it hits the news, you see the videos on the Telegram channels."
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