PLEX LIFETIME SUBSCRIPTION TRIPLES TO $750
■ AI-SUMMARIZED FROM 1 SOURCE ▸ TIMELINE
Plex is tripling the cost of its lifetime subscription to $750, effective June 30 at 8:01 PM ET. The premium plan price increase marks a significant shift in the streaming service's pricing strategy.
■ MORE FROM THE BUSINESS DESK
Fast-fashion retailer Shein raised $1.7 billion in its Hong Kong IPO, but the valuation marks a dramatic decline from its roughly $100 billion peak two years ago as growth stalls.
Shein CEO Sky Xu's net worth plummeted $15 billion following the fast-fashion company's scaled-back initial public offering. Xu's wealth fell from over $23 billion as Shein faced regulatory hurdles and market challenges.
The European Commission is advancing a controversial strategy to require backdoors in encrypted communications, allowing law enforcement access to private messages. The ProtectEU initiative aims to balance security concerns with surveillance capabilities.
Elon Musk plans to use a secret SpaceX foundry to manufacture gas turbine blades, cutting deployment timelines by 18 months. The accelerated approach faces pushback over environmental and health risks already documented at existing turbine sites.