In July, Americans watched more streaming TV than they did cable TV for the first month ever. Sarah Krouse reports in The Wall Street Journal: Americans spent more of their July TV-viewing time streaming content on services like Netflix, YouTube and HBO Max than they did watching cable TV, according to new Nielsen data, the first month ever in which streaming has overtaken cable. Streaming captured 34.8% of total U.S. TV viewing time during the month, while cable TV attracted 34.4%, according to Nielsen. The total time people in the U.S. spent streaming rose 22.6% from a year earlier, … [Read more...]
Disney Catches Netflix in Streaming Wars
The battle between Disney and Netflix for subscribers is fierce, and for the first time, Disney has pulled ahead. Christopher Grimes reports for the Financial Times: Walt Disney defied concerns about a slowdown in the streaming industry by adding a robust 14.4mn subscribers to its Disney Plus service in the latest quarter, pushing its total number of paying streaming customers to 221mn — slightly ahead of Netflix. But Disney reduced its long-term guidance for its total number of Disney Plus subscribers due to its recent loss of rights to stream Indian Premier League cricket matches. … [Read more...]
What’s Amazon Worth?
At the Financial Times, Robert Armstrong delves into valuing Amazon, a complex company with multiples that are still high, despite them coming down from their peaks. He writes: Amazon reports tomorrow, and some observers are a little worried that the results might disappoint. Amazon’s cloud computing business, Amazon Web Services, likely kept roaring ahead in the June quarter. But the retail operation has been reeling a bit. Now that the coronavirus pandemic-driven online shopping boom has blown over, it has been left with excess capacity, falling margins and little growth. Retail sales … [Read more...]
Will Samsung Build 11 New Chip Plants in Texas?
These days it seems like every high-tech business is moving to Texas. Now, there is a possibility that Samsung will build up to eleven new chip-making facilities in the state. Jiyoung Sohn reports in The Wall Street Journal: Samsung Electronics Co. has floated the prospect of investing nearly $200 billion for 11 new chip-making plants in Texas over the next two decades, a mega splurge that if executed would dramatically boost its semiconductor foothold in the U.S. The South Korean tech giant’s proposed spending was divulged in recent filings submitted to the Texas Comptroller’s office and … [Read more...]
The Justice Department Wants to Dismantle Google
The Department of Justice has been conduction an ongoing investigation into Google's anti-competitive business practices. Apparently, Justice has found a smoking gun of some sorts as the WSJ is reporting that Google has offered to separate its ad-tech business to end the investigation. Alphabet Inc.’s Google has offered concessions in an attempt to head off a possible U.S. antitrust lawsuit aimed at its massive ad-tech business, according to people familiar with the matter, a sign that legal and regulatory pressures on the tech giant are coming to a head. As part of one offer, Google has … [Read more...]
Purchases of Gaming Chips for Crypto Mining Tailing Off
For a long time, the heart of the cryptocurrency mining industry has been Nvidia gaming chips, used by crypto "miners" for their computational power. Now that cryptocurrencies have lost much of their value, the prices of chips are falling. Bloomberg's Cecilia D'Anastasio and Ian King report: The turmoil in the cryptocurrency industry has ravaged portfolios and left large and small investors struggling to adapt. It’s also taken a toll on a corner of the tech world that once benefited from crypto’s rise: Nvidia Corp. graphics cards. Long popular with computer gaming nerds, these cards … [Read more...]
Are Google, Amazon, and Microsoft About to Crash This Specialized Real Estate Market?
Famed short-seller Jim Chanos is taking aim at a new market, data center real estate investment trusts. These trusts own big data centers, but, says Chanos, despite the data centers being at the center of the rise of cloud computing "the cloud is their enemy, not their business. Value is accruing to the cloud companies, not the bricks-and-mortar legacy data centres.” Harriet Agnew reports in the Financial Times: Short seller Jim Chanos is betting against “legacy” data centres that now face growing competition from the trio of tech giants that have been their biggest customers. Chanos, who … [Read more...]
What Happens to Your Passwords When You Die?
Estate planning is something every serious investor should consider, but as technology extends the reach of your identity beyond the physical world, new challenges are arising. Who inherits your digital identity when you die? What is the value of your Facebook account? Do all heirs have the same level of access? These are questions that must be sorted out. Having a plan makes it easier. Dalvin Brown discusses estate planning issues for technology in The Wall Street Journal, writing: Just as you set up a living will or a power of attorney, it’s a good idea to set up your online accounts so … [Read more...]
Predictions of MEGA-SPENDING on Metaverse
McKinsey & Co. has predicted mega-spending on the metaverse of $5 trillion by 2030. Ann-Marie Alcantara and Patrick Coffee report in The Wall Street Journal: Businesses’ and consumers’ annual global spending related to the metaverse could reach $5 trillion by 2030, according to a new report from consulting firm McKinsey & Co. E-commerce in the metaverse will comprise some $2 trillion to $2.6 trillion of the total, while virtual advertising endeavors will make up another $144 billion to $206 billion, McKinsey said. By comparison, spending around artificial intelligence totaled … [Read more...]
Sheryl Sandberg Leaves Facebook in Mark Zuckerberg’s Hands
After fourteen years of copiloting the world's largest social media company, Sheryl Sandberg has resigned from Facebook. Hannah Murphy reports for the Financial Times: Sheryl Sandberg is stepping down as the chief operating officer of Facebook’s parent company Meta after 14 years, a major shake-up in which chief executive Mark Zuckerberg will lose one of his closest lieutenants. Sandberg, one of the company’s most high-profile executives, will leave the business “in the fall” after a transition period, while remaining on Meta’s board, she said. In a post on her Facebook page on … [Read more...]
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