
CYNICALS•🔮
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In February 2014, the Ukrainian people ousted pro-Russian president Viktor Yanukovych, prompting Russia to invade and annex the Crimean peninsula. By the start of April, Pavel Durov had given his notice, with TechCrunch saying at the time that the CEO had resisted pressure to suppress pages criticizing the Russian government. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. Multiple pro-Kremlin media figures circulated the post's false claims, including prominent Russian journalist Vladimir Soloviev and the state-controlled Russian outlet RT, according to the DFR Lab's report. 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.
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