Top Ten in Tech News — November
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1. Apple’s ad changes wiped $142 billion off Snap, Facebook, and other online ad giants
Take: Last Thursday, Snap Inc. reported its financial quarter, and it did not look good. Not only company met the third quarter targets, but will have slow start the end of 2021. The company put the blame mainly on the supply chain problems, but did not forget to mention how disruptive the Apple’s privacy and advertising changes hurt online ad giants. Analysts estimate that ads on Apple devices account for about 70% of Snap’s revenues.
2. PayPal Is Exploring a Purchase of Pinterest
Take: Biggest technology deal of the year is on its way! PayPal is busy building the “super-app”, and next move is to acquire Pinterest for whopping $45 billion. The online shopping boom fueled with COVID resulted in a good year for PayPal. With that said, it seems like the right time for PayPal to enter the advertising space as Pinterest’s CEO is stepping down and the company is troubled internally with some discrimination accusations.
3. Tesla Shifting to Cheaper Battery Chemistry Tried in China
Tesla: Tesla is thriving. The company’s financial reporting proved that they are still the king of the EV valley. Now, it is pushing to increase its profit margins even further. The company just announced that it is changing the battery cell chemistry on its all standard-range cars. The new batteries will use a lithium-iron-phosphate (LFP) chemistry rather than nickel-cobalt-aluminum. This will allow Tesla to increase the margins without increasing the price of the cars.
4. Facebook is planning to rebrand the company with a new name
Take: Battles on all fronts, Mark Zuckerberg and Facebook are struggling to keep up with all the problems arising. The solution: Rebranding. Zuckerberg previously coined the term “metaverse” as the company’s vision, and he just announced that the name will change to reflect on the new focus of the company. While it could very well be the reason why, many analysts and reporters indicate that this is a stunt to disassociate from the ongoing scandals.
5. NBA lands first cryptocurrency sponsorship with Coinbase
Take: Biggest basketball league in the world, NBA has its very first sponsor from the crypto industry, Coinbase. With the agreement, Coinbase will leverage NBA’s all platforms including WNBA, G League 2K League, and USA Basketball. Many other major sports leagues such as Formula 1 and MLB embraced crypto sponsorships the help stop the bleeding from COVID.
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