Elon shares his toys🧸
Netflix got growth issues, Rivian raises $2.5 Bn.
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Musk agrees to share his toys 🧸
Tesla will be opening up its charging network to allow other EV companies worldwide to charge their cars on it — a new chapter opening move for $TSLA. According to rumors, the first Superchargers will be available to third parties in Norway and Sweden by September 2022.
Early in the game still, but Tesla has 25K Superchargers worldwide, offering rapid charging (10 minutes for ~150kms+)
Will charge by time — or could even offer subscription packages.
Game plan — this could be Tesla’s AWS moment. Competition is busy investing big money into making cars while charging infra as a business vertical is on nobody’s mind yet. Tesla’s infra could end up becoming the rails that power broad EV-fication.
Netflix falls short on subscribers 😟
Netflix is in quite the pickle — subscriber growth for the streamer during the peak of the pandemic was so freaking strong that they continue to struggle to find more users to pay for the service.
Last night’s quarterly numbers again soured mood — Netflix added a total of 1.5 million new subs, well above its own guidance, but below Wall Street’s expectations.
What’s ahead — now that the Western world has been vaccinated, big-shot Hollywood gods will feel more at ease leaving their Malibu villas to make movies. This is expected to pump up Netflix's programming slate once more, attracting more viewers, more FOMO, and hence more users.
Until then, investors decided to be patient, keeping Netflix stock flat – a favor after a truly tasteless show.
Hot Shorts ⚡
Edtech unicorn BYJU has acquired edtech companies Toppr and Great Learning; the Bengaluru-based edtech giant spent roughly $600 million on the two deals combined. Earlier this week, BYJU'S announced the $500 million acquisition of Epic, a US-based edtech startup.
In the next five years, Mark Zuckerberg wants to change Facebook from a social media network to a "metaverse company."
A metaverse is an online universe in which people can game, work, and chat in a virtual environment, frequently using virtual reality headsets.
Rivian closed a $2.5 billion funding round🚘
Electric vehicle start-up Rivian on Friday said it closed a $2.5 billion funding round led by existing investors Amazon, Ford Motor, and T. Rowe Price. The electric vehicle start-up said it has raised about $10.5 billion since 2019.
“As we near the start of vehicle production, it’s vital that we keep looking forward and pushing through to Rivian’s next phase of growth,” Rivian CEO RJ Scaringe said in a statement.
The new funds will be used to enhance new vehicle projects, the company's domestic facility footprint, and foreign product rollout, according to the company.
Tweet of the day🐥
👨🏻💻 According to a new job posting, Amazon is looking for a digital currency and blockchain product lead for its payments team, implying that the corporation is taking a more serious look at cryptocurrency.
💸 YouTube announced, Super Thanks, a feature to let fans directly pay creators for individual videos.
Those who compound consistently attract feedback and never repel feedback.
-Kunal Shah
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