📚 'Extraordinary' Isn't Always Enough These Days

Plus: CNN+ is shutting down, Why the Federal Reserve has made a historic mistake on inflation, and more ...

Apr 22

Today’s pick

To Get Into the Ivy League, 'Extraordinary' Isn't Always Enough These Days. A star student finds herself with a pile of rejection letters during the most competitive college-applications year on record. (Douglas Belkin / Wall Street Journal)

McKay Coppins @mckaycoppins

"Nearly half of white students admitted to Harvard between 2009 and 2014 were recruited athletes, legacy students, children of faculty and staff, or on the dean’s interest list—applicants whose parents or relatives have donated to Harvard" wsj.com/articles/to-ge…

CNN+ is shutting down, effective April 30, sources say. Warner Bros. Discovery is shutting down CNN+ on April 30, just weeks after the stand-alone streaming service launched. CNBC reported last week fewer than 10,000 people were watching CNN+ each day. (Alex Sherman / CNBC)

Alex Sherman @sherman4949

Lots of new details on what went down in CNN+’s all-hands meeting today in here — including leadership taking questions on who is to blame and Chris Licht calling all of this “a uniquely shitty situation.”

CNN+ will shut down April 30, just one month after launchWarnerMedia launched the stand-alone news service less than a month ago on March 29.cnbc.com

Why the Federal Reserve has made a historic mistake on inflation. CENTRAL BANKS are supposed to inspire confidence in the economy by keeping inflation low and stable. America's Federal Reserve has suffered a hair-raising loss of control. In March consumer prices were 8.5% higher than a year earlier, the fastest… (The Economist)

The Economist @TheEconomist

Central banks are supposed to inspire confidence in the economy by keeping inflation low and stable. In America, however, there has been a hair-raising loss of control. Our latest cover econ.st/3jXwpGK

Musk Is Exploring Launching a Tender Offer for Twitter. Elon Musk is exploring launching a tender offer for Twitter Inc., after the social media company failed to respond to his offer to buy the company for $54.20 a share. To finance the purchase, “entities related” to Musk have received… (Molly Schuetz / Bloomberg)

Bloomberg Deals @BloombergDeals

Elon Musk said Morgan Stanley and other financial institutions are providing about $25.5 billion in debt financing for his bid to buy Twitter Bloomberg - Are you a robot?trib.al

Wealthy cybercriminals are using zero-day hacks more than ever. “Ransomware groups have been able to recruit new talent and to use the resources from their ransomware operations and from the insane amounts of revenue they're pulling in in order to focus on what was once the domain of state-sponsored… (Patrick Howell O'Neill / MIT Technology Review)