Dartmouth Reinstates SATs & Snap Lays Off 10% of Workforce

Heyo, reader! We hope you’re having a good Tuesday morning!

2️⃣ This Morning’s Two Reports:

• 📘 Dartmouth's SAT/ACT Comeback

• 📉 Snapchat's Workforce Trim

📊 Market Snapshot

• DOW: 🔽 0.71% (38,380.12)

• S&P 500: 🔽 0.32% (4,942.81)

• NASDAQ: 🔽 0.20 (15,597.68)

• BTC: 🔼 0.45% (42,847.90)

• ETH: 🔼 1.15% (2,325.44)

_{*Stock numbers as of market close, cryptocurrency as of 9:45pm EST yesterday.}

First Report

📘 Dartmouth's SAT/ACT Comeback

Dartmouth College is reintroducing SAT and ACT score requirements for its next wave of applicants, reversing a temporary policy enacted during the COVID-19 pandemic. This change, set to affect the class of 2029, stems from a comprehensive study suggesting that standardized tests could actually enhance accessibility for underprivileged students, including those who are the first in their families to attend college or come from low-income households. Economics professor Bruce Sacerdote and his team discovered that despite lower submission rates, students from disadvantaged backgrounds often had scores that could significantly boost their admission chances. This insight challenges the prevailing criticism against standardized testing, which many argue disproportionately affects students from marginalized communities by correlating higher scores with higher income levels. Dartmouth's decision not only aims to uncover overlooked talents but also to diversify the pool of students from varied educational backgrounds. 🏫✨

TL;DR ⏳: Dartmouth reevaluates SAT/ACT's role, spotlighting them as tools for inclusivity and diversity in admissions.

Second Report

📉 Snapchat's Workforce Trim

Snap Inc., the parent company of Snapchat, has announced a significant reduction in its global workforce, cutting 10% or approximately 500 employees. This move is part of a strategic effort to enhance in-person collaboration and streamline operations. Following a series of layoffs since 2022, including a major cutback where 20% of the staff was let go, Snap aims to adapt to the evolving demands of the tech industry and improve efficiency. Despite the initial market jitters causing a 3% drop in share prices, Snap anticipates incurring charges between $55 million to $75 million due to this decision. The tech sector is witnessing widespread layoffs, with nearly 24,000 job losses in January 2024 alone, marking a continued trend of workforce adjustments among leading companies. 🏢💼

TL;DR ⏳: Snap cuts 10% of its staff to foster better in-person work dynamics and efficiency.

⚡ Quick Hits

1. 👑 King Charles faces cancer diagnosis

2. 🌧️ California battles atmospheric river's wrath

3. 🚫 Senate GOP blocks border policy bill

4. 🗳️ Trump claims 'presumptive nominee' status, urges Supreme Court for ballot inclusion

5. 🔒 Michigan city enhances security, labeled 'Jihad capital' of US

6. 🔥 Chile wildfire death toll hits 122, hundreds missing

7. 🇺🇦 Zelensky plans major Ukraine leadership overhaul

8. ✈️ Israel reports significant blow to Hamas, Sinwar fleeing

9. 🌀 Scientists suggest Category 6 for escalating hurricane intensity

10. 🍔 McDonald’s reports Middle East conflicts impacting business

Games

Fun Fact: Did you know? The first computer "bug" was actually... a bug? In 1947, a moth fancied itself a tech enthusiast and dived into the Harvard Mark II computer. Grace Hopper found the intruder, giving a whole new meaning to debugging! So next time your computer glitches, just imagine a tiny moth causing chaos. 🖥️😂