Business News Weekly — August 20, 2018
“India aims to curb US tech giants” — from an article in the Wall Street Journal. India has 390 Internet users and exceeds the US 285 million. At the same time China has 733 million people using the Internet. You can see why a lot of American companies rush to get into the Chinese market.
“Lucidity Announces $5 Million Funding Round” — from the L.A. Business Journal. Marina del Rey advertising firm Lucidity (an affiliate of KR8OS Inc.) announced Aug. 15 it completed a funding round of $5 million in total, comprised of investments from six venture capital firms.
Elon Musk continues to shakeup his investors with a threat to take Tesla public He also has his Board of Directors in a tizzy.
“Big tech’s path to $4 trillion” — from an article in the Wall Street Journal. It says Apple’s $1 trillion milestone is a harbinger for Amazon, Alphabet and Microsoft.
“Valuations slipped as stocks near records” — From the Wall Street Journal. The S&P 500 forward price/earnings and annualized 10 year returns are down. To give you an idea the energy sector is 25 times price/earnings, consumer discretionary sector is 24, technology 23, consumer staples in 19% and industrials is 19.
Google Courts China partners.
“Some customers say no to a $999 phone” — from an article in the Wall Street Journal.
Social networks are losing friends. Facebook, Twitter and Snapchat parent Snap Inc. all posted declines in key user bases for the second quarter.
Innovation of the week. In an area of India that has very low rainfall, that hurts farmers, now has a system for generating artificial glaciers, drawn from moisture in the air.
The Boring Company , the Los Angeles company founded by Elon Musk to create underground transportation systems, said late Wednesday evening that it is proposing a new, high speed, underground public transportation system specifically designed to connect Los Feliz, East Hollywood, or Rampart Village neighborhoods to Dodger Stadium. According to The Boring Company, the system would connect the Red Line to Dodger Stadium, allowing fans to get to Dodger Stadium in under 4 minutes.