Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

TECH POINT: surprising Tesla, Airbnb and Uber against New York, Blockchain...

08/10/2018 | 10:16am EDT

Here is a short recap of tech-related news that have caught our attention this week.

Cryptocurrency. Starbucks may accept indirect Bitcoin payments in the near future. Together with the Intercontinental Exchange, Microsoft and a few other parties, it is creating the Bakkt platform. The platform will allow a simple conversion of cryptos into dollars.

Earlier this week, the Decentralized Web Summit in San Francisco took place where web entrepreneurs and developpers spoke about decentralization. According to them, Blockchain could change the way we look at our online identity…

Also earlier this week, Coinbase integrated Ethereum Classic on its platform. There was a lot of speculation around the token and ETC gained a maximum of 35% since last Friday.

The FED reported its decision about the creation of a Bitcoin ETF to September.

Blockchain. The World Bank mandated the Commonwealth Bank of Australia to arrange the world’s first blockchain bond. The Kangaroo bond (the name given to foreign bonds issued in Australia in Australian dollars) will be called Bond-I, an acronym for a Blockchain Offered New Debt Instrument, but  this also refers to the well-known Bondi Beach in Sydney.

Google. The Earth is no longer flat. The search engine just changed the way it presents our planet in Maps. Zoom out to see a 360° view of our globe. No need to buy a $200 000 ticket to Blue Origin for that view - too bad for Jeff Bezos.

Facebook. The social network is talking to banks to integrate financial services in its Messenger App. In the future, it may be possible to speak directly with your bank advisor, send or receive money, and obviously to spend money on things you like.

Tesla. A great week for the company. If there would have been another Elon Musk on earth, the financial markets would no doubt be far more surprising. Musk tweeted this week that he wants to take Tesla private, at $420 a share and with a secured funding. Boom. The Tesla share was suspended for a while and then it went up +10.99%. A $6.5 billion dollar tweet. Musk now has to deal with SEC regulations…

Snap. The social network reported its earnings this week. The company increased its profits in the second quarter quarter, but it  lost 3 million active users over the period. This is the first time we observe a move in that direction, so we shall keep an eye on the company's next release on November 6. Snap also has a new shareholder, the Saudi Al-Walid Ben Talal, who invested 250 million dollars in the company and now owns 2.3% of it.

Slack. The American messaging company is going to raise $400 million, or more, in another funding round. As such, it will see its value increase to $7 billion, two billion more than in September 2017 when SoftBank led a $250 million round. Slack has about 40 investors and will not go public this year.

Magic Leap. It took 8 years and $2.3 billion to get to this announcement: the first Magic Leap One model is available for purchase at $2 295. It is available in only six cities.

New York. The city is playing hard ball with Airbnb and Uber. Airbnb will have to share its host listings with NY from now on. The city wants to introduce a law that prohibits renting out a place for less than 30 days. The fight against the housing crisis is thus officially launched.

At the same time, New York froze new vehicle licenses for Uber for a year and imposed a minimum salary of $17.22 per hour for Uber drivers. As a result, the price of rides will increase 3 to 5% for users. The same rules will apply to Uber’s competitors Lyft, Juno and Via. More than 80,000 people should see immediate improvements coming from this law.

© MarketScreener.com 2018
Stocks mentioned in the article
ChangeLast1st jan.
AIRBNB, INC. -0.53% 138.73 Delayed Quote.-5.50%
ALCON INC. 1.18% 65.42 Delayed Quote.11.18%
ALPHABET INC. 3.58% 2660.3 Delayed Quote.51.79%
BITCOIN - EURO 1.36% 28837.51 Real-time Quote.20.51%
BITCOIN - UNITED STATES DOLLAR 1.31% 33954.19 Real-time Quote.16.01%
BITFARMS LTD 0.00%End-of-day quote.-87.92%
CHANGE INC. -1.75% 2634 End-of-day quote.-25.28%
COINBASE GLOBAL, INC. -0.51% 224.92 Delayed Quote.0.00%
ETHEREUM (ETH/BTC) -0.03% 0.06325 Real-time Quote.148.44%
ETHEREUM (ETH/EUR) 1.44% 1825.26 Real-time Quote.199.25%
ETHEREUM - UNITED STATES DOLLAR 1.38% 2148 Real-time Quote.188.05%
ETHEREUM CLASSIC (ETC/USD) 5.62% 48.29 Real-time Quote.712.07%
EURO / US DOLLAR (EUR/USD) -0.04% 1.1768 Delayed Quote.-3.63%
FACEBOOK INC 5.30% 369.79 Delayed Quote.35.37%
MICROSOFT CORPORATION 1.23% 289.67 Delayed Quote.30.24%
SNAP INC. 23.82% 77.97 Delayed Quote.55.72%
SOFTBANK GROUP CORP. 0.47% 7261 End-of-day quote.-9.89%
TESLA, INC. -0.91% 643.38 Delayed Quote.-8.83%