Tech, Business, Finance and Everything Else
Architect Sonya Lee has unveiled the new home of Meow Parlour, New York City’s beloved cat cafe. The popular spot had outgrown its previous space. A standout feature of the new storefront is a ten-foot-tall wall constructed entirely of white oak shelves that spell out “MEOW.” These shelves serve a triple purpose: as eye-catching signage, a cozy playground for the cafe’s feline residents, and a stylish display counter.
The other day I just came across Amit on YouTube and noticed that he sat down and interviewed Robinhood CEO and Co-Founder, Vlad Tenev.
It’s a great interview and really worth the watch.
My favourite part is them talking about the new Robinhood Gold and the economics behind the product.
This is the key reason media companies don’t stand the test of time!
This is Digital Music News. There are barely two paragraphs on the page and the vast majority of the page is just spammed full of advertising!
It’s impossible to even read the article!!!!!!
Revenue +13%
*Online Stores +7%
*Physical Stores +6%
*Third Party Sellers +16%
*Subscriptions +11%
*Advertising +24%
*AWS +17%
EBIT +221%
*marg. 10.7% (3.7)
EPS +219%
FCF LTM $50.1B (-3.3)
90% of VCs add no value to startups, 70% even harm them.
Just the fact that you got an MBA and joined a venture fund doesn’t mean you can give useful advice to an entrepreneur
If you never built an actual business, you’re not qualified to give advice.
Vinod Khosla is the lead of Khosla Ventures and has invested in some of the worlds largest companies when they were young and in venture capital mode.
Here is the full interview:
Here is a quick run down the SoFi results this quarter.
From the outside it looks like they had a very strong quarter with 26.2% growth in terms of revenues and members are very strong at 43% up year on year.
However, the stock itself is a crazy rise and very hard to predict how it is going to perform over the short term.
Buying Xiaomi American Depositary Receipts (ADRs):
Buying Xiaomi shares directly on the Hong Kong Stock Exchange (HKEX):
NIO plans to start selling the first model under a mass-market brand as early as September, according to founder and chief executive William Li. The production cost for these new electric vehicle models would be 10% less than that of Tesla’s Model Y. Li told investors on Tuesday that this would give NIO “better flexibility” in pricing its first model, codenamed Alps, which will feature battery-swapping technology. This advantage is due to China’s well-developed EV supply chain and NIO’s extensive research and development efforts over the years.
Li suggested that the luxury EV manufacturer might adopt a more aggressive pricing strategy to compete with rivals in the segment. The new brand will primarily target Chinese families and prioritize volume sales, while NIO’s original brand will continue to focus on gross margin.
In 2023, the net loss of the Shanghai-based company increased to RMB 20.7 billion ($2.9 billion) from RMB 14.4 billion the previous year, while its revenue grew by approximately 12.9%. NIO’s stock ended the day at $5.48, a 2.8% increase.
Investments in AI have been increasing, and Alibaba has emerged as one of China’s key players in this field. Recently, the e-commerce giant led a funding round of over US$600 million for the Chinese startup MiniMax.
This deal increased MiniMax’s valuation to over US$2.5 billion, marking Alibaba’s second significant AI investment this year. It recently led a US$1 billion round for Moonshot AI, also valuing it at US$2.5 billion.
MiniMax is a Chinese AI startup specializing in social AI. It develops AI companions and virtual characters for interactive experiences.
At present, the startup has two AI character role-playing apps: Talkie for international markets, and Xing Ye for China.
A lot of people have been giving Google a really hard time of late over their troubled entry into AI – with their chat interface Gemini. Additionally, there are investors out there that think OpenAI, Perplexity and others will start to disrupt their search business which is their main revenue stream via ads.
I don’t think this is going to happen and here is my take:
I think I will be buying more for my own investment portfolio.
Coinbase (COIN) debuted on the Nasdaq stock exchange on April 14, 2021, through a direct listing, meaning no shares were sold at a pre-determined price. While Nasdaq provided a reference price of $250 per share, the stock actually began trading at $381 and closed its first day at $328.28 per share.
Cox Enterprises is set to acquire OpenGov, a software provider for cities and state agencies, in a deal valued at $1.8 billion. OpenGov, a privately-owned company based in San Francisco, has developed a software platform over the past twelve years. This platform assists with budgeting, accounting, asset management, and other local government requirements.
While Salesforce doesn’t publicly disclose an official list of their “biggest” clients, here are some of the prominent companies and organizations known to be Salesforce customers, highlighting the diverse range of industries they serve:
Large Enterprises:
Public Sector and Non-profits:
Smaller Businesses:
Additional Considerations:
Axios Media is majority-owned by Cox Enterprises, a family-owned media conglomerate headquartered in Atlanta, Georgia. However, Axios ownership isn’t solely held by Cox Enterprises. Here’s a breakdown:
Therefore, while Cox Enterprises holds the majority stake, Axios also maintains ownership by its founders and employees, potentially fostering a sense of shared ownership and alignment within the company.
As of October 26, 2023, the largest shareholders in Monster Beverage Corporation (MNST) are:
Here are some additional insights about Monster Beverage’s ownership structure:
Prince Albert II of Monaco, a tiny country renowned for its casinos, grand prix, and status as a tax haven, is facing scrutiny for allegedly favouring his nephews’ business interests. A yearlong investigation by Bloomberg revealed that his nephews’ construction company secured state contracts worth over $60 million. Furthermore, Prince Albert II allegedly helped quash a lawsuit from a competing developer over an apartment building his nephews aimed to develop near the Casino de Monte-Carlo. Government offices have been raided by the police, but the prince and his family deny any wrongdoing. Monaco remains one of the few countries where power is still centered in the palace. This has raised concerns among European officials, who fear that the wealthy nation “continues to serve as a back door to Western Europe for financial criminals,” as stated by Bloomberg.
The News: Online brokerage Webull is planning to go public via a $7.3 billion merger with a special purpose acquisition company (SPAC), after previous initial public offering (IPO) attempts were unsuccessful, partly due to its past crypto offerings.
Details: The New York-based company, which launched its trading platform in the U.S. in 2018, has agreed to merge with SK Growth Opportunities Corp. The company plans to start trading on the Nasdaq in the second half of 2024, giving Webull an estimated enterprise value of roughly $7.3 billion.
Webull’s U.S. CEO, Anthony Denier, stated that the company’s previous attempts to IPO were hindered by its cryptocurrency trading offerings, a practice the SEC has frowned upon. To eliminate this regulatory uncertainty and clear the path for its public listing, Webull sold its crypto asset business in late 2023.
Why SPAC?: Denier explained that the SPAC route provides a more certain valuation upfront compared to a traditional IPO. The blank-check deal is expected to raise approximately $100 million for Webull, which it intends to use for international expansion and new product development.
Webull experienced significant growth during the pandemic, with registered users reaching 20 million worldwide. The company has targeted more active traders than competitors like Robinhood, offering tools for technical analysis.
It’s important to note that this impending public listing occurs as fintechs proceed cautiously due to increased regulatory scrutiny of companies with ties to China. Despite early backing from Chinese tech giants Xiaomi and Alibaba, Denier emphasized that Webull is not majority-owned by Chinese entities.
The story of Baillie Gifford’s origins starts in Edinburgh, Scotland, in 1908, when two ambitious lawyers, Colonel Augustus Baillie and T.J. Carlyle Gifford, saw an opportunity in the burgeoning rubber industry.
The Founding Moment:
Early Years and Growth:
Evolution and Modern Form:
Today:
