Category: Stocks

  • Grab aims to break even by H2 2024

    Grab aims to break even by H2 2024

    It will be interesting to see how Grab make the economics work for Grab rides and food, considering South East Asia is a highly competitive market. Grab Sees Slowing Growth As It Aims To Break Even By Second Half 2024 Grab Holdings said it’s aiming to breakeven by the second half of 2024 on an…

  • Stadia is shutting down

    It comes as a shock, despite the warning signs. Just last month, Google was refuting claims that it would shutter Stadia, its cloud-based gaming service. Apparently, financial realities have caught up with them. Google has announced the impending shutdown of its Stadia gaming platform. Users will have access to the service until January 18, 2023.…

  • Twilio and anti-racist layoffs

    Wait what does that even mean? Layoffs being anti-racist. Does that mean you layoff people of majority races in the company? Twilio CEO Jeff Lawson announced in a message to all employees that 11% of its workforce would be laid off, stating that they made the layoffs through an “Anti-Racist” and “Anti-Oppression” lens. “As you…

  • 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…

  • Adobe plans to acquire Figma

    Adobe plans to acquire 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…

  • Lyft shuts down in-house rentals

    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 Journal. As TechCrunch notes, the layoffs have also been confirmed by…

  • Amazon takes stake in Grubhub

    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…

  • 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…

  • Bird continues to face challenges

    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. From Investors…

  • 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…

  • Lime raises $500M and public plans

    Lime raises $500M and public plans

    The Verge reports that, Lime, the electric scooter company, has raised over $500 million in funding and confirmed plans to go public. The recent funding includes $418 million in debt financing and a $105 million loan. Unlike its rival Bird, Lime hopes to leverage its global presence and status to attract investors. The company, claiming…

  • AMD beats revenue estimates with $4.31B

    Advanced Micro Devices reported its revenues and earnings for the third quarter ended September 30 exceeded expectations, with revenue growing 54% to a record $4.3 billion. Non-GAAP net income for the quarter was $893 million, or 73 cents a share, beating expectations of 67 cents a share on a non-GAAP basis. AMD said it was…