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Technology

EVGA stops making video cards

Interesting news this week that EVGA will stop manufacturing Nvidia cards.

EVGA stops making video cards and blames Nvidia’s bad behavior

EVGA is reportedly making the decision to no longer work with Nvidia because it feels the company was a bad partner, according to both Gamers Nexus and JayzTwoCents. The company claims that Nvidia wouldn’t tell EVGA how much it would have to pay to obtain GPU cores before publicly announcing the price of cards like the RTX 3080, which made it difficult for EVGA to figure out how much it would have to charge for its own products, built around Nvidia’s tech. According to JayzTwoCents, Nvidia sent the drivers required to take full advantage of its GPUs to journalists before it sent them to EVGA and would keep the manufacturer in the dark about how many GPUs it would get to integrate into its own designs and products.

Source: The Verge

Sounds like Nvidia is outright being a bully in the industry. The Founders Edition of their card retails as a price that’s lower than EVGA. I don’t really see how EVGA can be profitable here. However, to drop pretty much their biggest partner does put the company at a precarious position.

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Stocks Technology

Tesla Texas produced 10,000th Model Y

Looks like Tesla’s managed to, gradually, catch up with production in Texas which is great news.

Tesla Gigafactory Texas has produced 10,000th Model Y electric SUV

One of the biggest stories at Tesla right now as the production ramps up is that the automaker is trying to simultaneously achieve Gigafactory Berlin and Gigafactory Texas. Those two factories are expected to roughly double Tesla’s production capacity within the next year.

However, those production ramps are hard to predict, and Tesla is not exactly forthcoming with the production numbers. But it does share milestones – today, the automaker announced that Gigafactory Texas produced its 10,000th Model Y vehicle:

Source: Electrek
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Stocks Technology

Adobe acquires Figma

I see this as Adobe is fading into irrelevance with product engineers. Today hardly almost all designers I know of are using Figma.

Smart defensive play there Adobe.

Adobe makes $20B bet on a collaborative future with Figma acquisition

Prior to announcing its intent to buy Figma for $20 billion on Thursday, Adobe’s largest deal was its $4.75 billion Marketo acquisition in 2018.

Perhaps Adobe saw the Figma deal as its organization-altering moment as it watched the creative market making a key change from one centered on creating assets with tools like Photoshop and Illustrator to one firmly focused on the creators themselves and the collaborative nature of the design process.

The former is where Adobe has built the bulk of its business. The latter is represented by Figma, a startup with visionary founders who wanted to change the way people thought about design in a digital context, a change so important that the old-guard company was willing to overspend to grab the young upstart and bring the two ways of thinking together.

Source: Techcrunch

Well, good luck. $20B is way higher than I imagine.

Figma is used by Airbnb, Uber and Zoom.

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Stocks Technology Travel

Lyft shuts down in-house rentals

I didn’t see this coming. Lyft Rentals is shutting down less than three years after it opens.

Lyft is shutting down its in-house car rental program

Lyft will stop renting out cars from its own fleet and has laid off around 60 employees, according to The Wall Street JournalAs TechCrunch notes, the layoffs have also been confirmed by the LinkedIn posts of affected workers. The people who lost their jobs, The Journal said, worked in operations and covered 2 percent of the company’s workforce. Back in May, the company reportedly wrote in a staff memo that it’s slowing down hiring due to the economic downturn, but that it didn’t have any layoffs planned. Things have clearly changed since then.

Source: Engadget

Lyft Rentals is one of the more affordable options that I see. I thought they were able to make the unit economics work out.

RIP. They will be missed.

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Stocks

Amazon takes stake in Grubhub

Amazon on Wednesday agreed to take a stake in Grubhub as part of a deal that will also give members of its Prime subscription program a one-year membership to the food delivery service.

The partnership gives Amazon the option to take a 2% stake in Grubhub, the U.S. subsidiary of Just Eat Takeaway.com, the European food giant said. Amazon will be able to increase its total stake to 15% of Grubhub depending on certain performance factors, such as the number of new customers added.

News of the deal sent shares of delivery platforms lower. Uber’s stock fell more than 3%, and shares of DoorDash plunged as much as 9%.

The agreement comes as Netherlands-based Just Eat is exploring a sale of Grubhub amid pressure from investors to improve its business. Just Eat’s stock is down more than 60% this year.

Amazon had previously experimented with adding food delivery perks to Prime. In September, it announced a tie-up with European delivery company Deliveroo that gave Prime members in the U.K. and Ireland access to Deliveroo Plus for one year. Amazon took a stake in Deliveroo in 2019.

Source: CNBC

This is a powerful collaboration. DoorDash is probably watching this closely.

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Money

California tax refund for car owners

I’m honestly perplexed by this decision. Even the electric car users will get this. I don’t own a car so I wouldn’t be eligible. This is just a really strange proposal considering that electric car owners would get this offset and people who rely on MUNI and other public transport are not getting this money.

Newsom proposes $400 debit cards to offset soaring gas prices for car owners

Newsom’s announcement is part of an $11 billion package his office said would help residents deal with the high price of gasoline, which has soared to a statewide average of $5.87 per gallon.

The debit cards would be mailed to the registered owners of vehicles, with a maximum of $800 per person for those who own more than one vehicle. In addition, Newsom wants to provide relief to non-drivers by making rail and mass transit service free for three months.

Millions of people could get $400 debt cards if the plan is approved. According to the DMV, there are more than 35.8 million registered vehicles in California, though that number includes people with multiple titles. Rebates would also go to drivers who have electric cars or those with lease agreements.

The governor proposed providing refunds to all vehicle owners, regardless of their income. 

SF Chronicle
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Stocks

SEC to require climate-change risk disclosures

I’m still a little confused how this would manifest but I’m glad SEC is mandating companies think about climate change as a risk to their businesses.

SEC to Require Climate-Change Risk Disclosures Under New Plan

Companies will need to reveal detailed information about their greenhouse gas pollution under a new U.S. Securities and Exchange Commission plan, portending a major shift in how corporations must show they are dealing with climate change. 

For the first time ever, the agency plans to require businesses to outline the risks a warming planet poses to their operations when they file registration statements, annual reports or other documents. Some large companies will have to provide information on emissions they don’t make themselves, but come from other firms in their supply chain. 

Bloomberg

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Stocks

Bird continues to face challenges

Bird sold a vision of micro-mobility and got me excited. I thought it would really worked out initially. In the next year I saw their vehicles trashed into lakes, vandalized and I encountered one that isn’t functional. I realized this wasn’t going to work out. Not in Oakland and San Francisco at least.

Bird Stock Plummets After Electric Scooter Firm Gives Weak Guidance

Bird rents electric scooters and bikes in over 400 cities in more than 30 countries. It also sells its micro-electric vehicles to consumers. Last year, those hardware sales made up 9% of total revenue.

In the December quarter, Bird lost an adjusted $21.5 million on sales of $54 million. Wall Street was modeling a loss of $31 million on sales of $50.8 million.

For the full-year, Bird lost an adjusted $66.9 million on sales of $205 million. Analysts were projecting Bird to lose an adjusted $77 million on sales of $201.9 million in 2021, according to FactSet.

In 2021, Bird’s sales rose 117% year over year due to easy comparisons to the Covid-hampered 2020. Compared with 2019, sales were up 60%.

Investors Business Daily
Categories
Technology Travel

Kia EV6 smashes Tesla’s world record

Kia EV6

Recently, the Kia EV6 was also taken on a coast-to-coast road trip from New York to Los Angeles and set another new world record in the process.

During the seven-day trip, the Kia EV6 was charged for a total of seven hours, 10 minutes, and one second. That was fast enough for it to set a new Guinness World Record for shortest charging time to cross the United States in an electric vehicle. Impressively, it shattered the previous record set by Tesla by more than five and a half hours. For reference, the Tesla needed to be charged for a total of 12 hours, 48 minutes, and 19 seconds.

CarBuzz

That’s huge for Kia. And the car is gorgeous. I really welcome the competition here. EV by 2035!

Categories
Stocks

Peloton reports wider-than-expected loss

Peloton shares tumbled more than 25% on Thursday, after the company reported weakening sales growth and a wider-than-expected loss in its fiscal first quarter.

The company slashed its outlook for the full fiscal year amid softened demand for its exercise equipment and ongoing supply chain challenges. More consumers are opting to return to gyms such as Planet Fitness and Equinox, or fitness junkies are purchasing another at-home option from the flurry of companies that sell everything from rowing machines to connected mirrors.

In August, Peloton slashed the price of its original Bike by 20% to $1,495. On Thursday, Chief Financial Officer Jill Woodworth said that while Bike sales accelerated after the change, the results haven’t entirely met Peloton’s expectations.

CNBC

Loss per share: $1.25 vs. $1.07 expected

Revenue: $805.2 million vs. $810.7 million expected

With gyms reopening, I think Peloton’s gonna be a bear case.