The Good: Amazon Amazon, we have lift off. Today marked one of the more monumental changes in leadership among major tech companies since the untimely departure of Steve Jobs. Amazon founder and future astronaut Jeff Bezos has officially stepped down. Bezos will remain the executive chairman and largest shareholder of the company, but Andy Jassy has taken charge as the CEO, and the results are already impressive. Amazon spiked as much as 4%, hitting a new intraday high, and helping the stock play catch up after a year of lagging behind the S+P 500. Jassy’s job comes as Amazon is seeing antitrust scrutiny and a booming financial boost. In Q1, Amazon saw sales grow 44% from a year earlier. Amazon hired more than 500,000 people in 2020. Today’s value jump has boosted the company’s market cap by $65 billion, putting it closer to the lofty $2 trillion club. It lags behind only Microsoft and Apple in value among US listed companies. The Bad: IBM International Business Machines took another hit today following the late-week announcement of a management switch up which includes the surprise departure of IBM President and Red Hat CEO Jim Whitehurst. While Whitehurst will stay on as a “senior advisor,’ the lack of proper explanation is worrying some IBM investors. The stock is down 1.5% today, continuing a drop which has led to a shedding of 6% of value over two days. Analysts seemed mixed on the leadership changes, but pointed to other mishaps, including a recent email outage which led to a reconfiguration of their internal communication mechanisms, potentially slowing financial news for investors and some reputation risk. The Ugly: Didi Global Didi Global and other US listed Chinese tech companies tumbled today after regulators intensified a crackdown on the country’s New York listed tech companies. Didi Global, in particular was sunk by the news as it dropped 25% in one day. Beijing’s Cyberspace Administration ordered app stores to remove the Chinese ride-hailing giant’s services from its platforms on Sunday, leading to the drop. The regulator’s attack was widespread: other companies, including Full Truck Alliance and Kanzhun, both fell over 10%. China also released stricter guidelines through its state run media agency which could make it harder for Chinese companies to raise money in the US.