When Uber starts trading publicly in the coming weeks, it will join a very exclusive but less-than-desirable club — companies worth at least $50 billion that are losing money. Of the 110 U.S. companies with a market capitalization of at least $50 billion, only three were unprofitable last year: CVS, General Electric and Qualcomm. And Qualcomm doesn’t really count ...
April 24, 2019
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AI,
Elon Musk,
Tesla
Tesla is all-in on its plans to take over the ride-hailing industry. On Monday, CEO Elon Musk revealed the company’s plans to compete with companies such as Uber and Lyft by using its strategy for an autonomous ride-hailing fleet. Robo-taxis are essentially any Tesla vehicle with autonomous-driving functionality. To turn a Tesla into a robo-taxi, ...
Small businesses have a complicated relationship with Amazon . While they fear the company because they have no control over it, Amazon’s platform is also a great way to reach shoppers, particularly small businesses that rise to the top of its results pages. Amify, a nine-year-old, Alexandria, Va.-based company, says it can get them there, ...
April 23, 2019
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Apple Pay,
JCPenney
JCPenney quietly ditched Apple Pay this month. The decision was announced in response to a customer complaint on Twitter, but without any context or further explanation at the time. JCPenney had first rolled out Apple Pay into testing in 2015, then expanded to all its U.S. stores the following year, and later to its mobile ...
April 23, 2019
/
robotaxis,
Tesla
Tesla expects to launch the first robotaxis as part of broader vision for an autonomous ride-sharing network in 2020, CEO Elon Musk said during the company’s Autonomy Day. “I feel very confident predicting that there will be autonomous robotaxis from Tesla next year — not in all jurisdictions because we won’t have regulatory approval everywhere” ...
April 23, 2019
/
Netflix,
Revenue
Earlier this week, Netflix (NASDAQ: NFLX) reported another quarter of impressive revenue growth. Revenue and subscriber gains both modestly outpaced the guidance that management provided back in January. That said, it is clear that Netflix’s growth rate is finally slowing after years of rapid expansion. Rising competition from Walt Disney (NYSE: DIS) and others — ...
