💸 Tesla's $1.5 billion bitcoin investment didn't just make headlines, it has also made the company more profit than its car sales last year.
On Friday, the cryptocurrency smashed through the $55,000 level, bringing its market cap above $1 trillion.
This means if Tesla owns the same amount of Bitcoin as it did on January 31, it made a paper profit of about $930 million since January.
That's almost 30% more than its $721 million revenue from electric vehicles, per the report.
https://markets.businessinsider.com/currencies/news/tesla-bitcoin-gains-bigger-than-car-sale-revenue-report-2021-2-1030103815
On Friday, the cryptocurrency smashed through the $55,000 level, bringing its market cap above $1 trillion.
This means if Tesla owns the same amount of Bitcoin as it did on January 31, it made a paper profit of about $930 million since January.
That's almost 30% more than its $721 million revenue from electric vehicles, per the report.
https://markets.businessinsider.com/currencies/news/tesla-bitcoin-gains-bigger-than-car-sale-revenue-report-2021-2-1030103815
Business Insider
Tesla's bitcoin investment reportedly made more profit this year than car sales in the whole of 2020
EV-company Tesla's infamous $1.5 billion bitcoin purchase will have made more returns than the company's car sales revenue in 2020, The Times of London reported.
🚙 Lucid Motors is going to become a publicly-traded company on the New York Stock Exchange in a deal that will leave the electric vehicle startup with $4.4 billion in cash.
The California startup, which is majority-owned by Saudi Arabia’s sovereign wealth fund, plans to start shipping its first luxury electric vehicle — the 500-mile range Air sedan — later this year. An electric SUV is slated to follow in 2023.
The deal values Lucid Motors at $24 billion. It’s expected to close in the second quarter of this year, and Lucid Motors’ shares will trade on the NYSE under the ticker “LCID.”
Lucid Motors was founded way back in 2007 as Atieva. It was initially focused on battery technology, but ultimately pivoted into becoming an electric vehicle startup a few years ago. It has since grown to more than 2,000 employees and begun construction on a $700 million factory in Arizona where the Air will be built.
https://www.theverge.com/2021/2/22/22268085/lucid-motors-spac-merger-public-nyse-cciv-deal-air-sedan
The California startup, which is majority-owned by Saudi Arabia’s sovereign wealth fund, plans to start shipping its first luxury electric vehicle — the 500-mile range Air sedan — later this year. An electric SUV is slated to follow in 2023.
The deal values Lucid Motors at $24 billion. It’s expected to close in the second quarter of this year, and Lucid Motors’ shares will trade on the NYSE under the ticker “LCID.”
Lucid Motors was founded way back in 2007 as Atieva. It was initially focused on battery technology, but ultimately pivoted into becoming an electric vehicle startup a few years ago. It has since grown to more than 2,000 employees and begun construction on a $700 million factory in Arizona where the Air will be built.
https://www.theverge.com/2021/2/22/22268085/lucid-motors-spac-merger-public-nyse-cciv-deal-air-sedan
The Verge
Lucid Motors is going public in a major SPAC merger
The startup will be valued at $24 billion
🤝 Facebook has reached an agreement with the Australian government and will restore news pages in the country days after restricting them.
The decision follows negotiations between the tech giant and the Australian government, which is set to pass a new media law that will require digital platforms to pay for news.
Prime Minister Scott Morrison’s government introduced last-minute changes to the proposed news media bargaining code that is in parliament and is expected to be voted into law soon.
https://www.cnbc.com/2021/02/23/facebook-to-restore-news-pages-for-australian-users-in-coming-days.html
The decision follows negotiations between the tech giant and the Australian government, which is set to pass a new media law that will require digital platforms to pay for news.
Prime Minister Scott Morrison’s government introduced last-minute changes to the proposed news media bargaining code that is in parliament and is expected to be voted into law soon.
https://www.cnbc.com/2021/02/23/facebook-to-restore-news-pages-for-australian-users-in-coming-days.html
CNBC
Facebook cuts deal with Australia, will restore news pages in the coming days
The decision follows negotiations between Facebook and Australia which is set to pass a new media law that will require digital platforms to pay for news.
💵 At a virtual event for investors Thursday, Twitter announced that it’s planning to debut a pay-for-posts feature, called Super Follows, in which users will be able to pay the people they follow for their best tweets.
With Super Follows, Twitter will allow users to make money from content that they make exclusive to particular followers.
Basically, the premise seems to be that this pay-for-post feature will help build more specific communities around specific topics.
Thursday’s announcement is a sign that Twitter wants to be more than an incredibly public online discussion space and that the company is leaning into the smaller “micro-communities” that organically form on its platform.
https://www.vox.com/recode/2021/2/25/22301741/twitter-super-follows-subscription-communities-fleets
With Super Follows, Twitter will allow users to make money from content that they make exclusive to particular followers.
Basically, the premise seems to be that this pay-for-post feature will help build more specific communities around specific topics.
Thursday’s announcement is a sign that Twitter wants to be more than an incredibly public online discussion space and that the company is leaning into the smaller “micro-communities” that organically form on its platform.
https://www.vox.com/recode/2021/2/25/22301741/twitter-super-follows-subscription-communities-fleets
Vox
Coming soon to Twitter: Tweets you have to pay for
Twitter, a notoriously public platform, is building a walled garden.
✍️ Cryptocurrency exchange Coinbase on Thursday filed to become a public company and revealed that its revenue more than doubled last year.
According to the filing, Coinbase had net revenue of $1.14 billion in 2020, up from $483 million the previous year.
The company said it has 43 million verified users as of the end of 2020, with 2.8 million making monthly transactions. Trading in bitcoin and ethereum made up 56% of users’ trading volume, Coinbase said.
The company will use a direct listing to offer its shares instead of a traditional initial public offering. A direct listing is an alternative to an IPO, and it involves investors and employees converting their ownership stakes into stock that’s listed on an exchange.
https://www.cnbc.com/2021/02/25/coinbase-files-for-direct-listing-after-revenue-more-than-doubles-in-2020.html
According to the filing, Coinbase had net revenue of $1.14 billion in 2020, up from $483 million the previous year.
The company said it has 43 million verified users as of the end of 2020, with 2.8 million making monthly transactions. Trading in bitcoin and ethereum made up 56% of users’ trading volume, Coinbase said.
The company will use a direct listing to offer its shares instead of a traditional initial public offering. A direct listing is an alternative to an IPO, and it involves investors and employees converting their ownership stakes into stock that’s listed on an exchange.
https://www.cnbc.com/2021/02/25/coinbase-files-for-direct-listing-after-revenue-more-than-doubles-in-2020.html
CNBC
Coinbase files for direct listing after revenue more than doubles in 2020
Coinbase's filing showed that it made more than $1.1 billion in net revenue last year.
🇦🇺 Australia’s parliament passed a law on Thursday to make Google and Facebook pay media companies for content on their platforms in reforms that countries such as Britain and Canada are looking to replicate.
After robust negotiations in which Facebook blocked all news content in the 13th-largest economy, the vote makes Australia the first nation where a government arbitrator can set the price tech giants pay domestic media if private talks fail.
Facebook’s news ban, which also blacked out many nonprofit and government pages, would be lifted the following day, eight days after the measure took effect.
https://www.reuters.com/article/us-australia-media-idUSKBN2AO2ZL
After robust negotiations in which Facebook blocked all news content in the 13th-largest economy, the vote makes Australia the first nation where a government arbitrator can set the price tech giants pay domestic media if private talks fail.
Facebook’s news ban, which also blacked out many nonprofit and government pages, would be lifted the following day, eight days after the measure took effect.
https://www.reuters.com/article/us-australia-media-idUSKBN2AO2ZL
U.S.
Australian parliament passes media reforms after last-ditch changes
Australia's parliament passed a law on Thursday to make Alphabet Inc's Google and Facebook Inc pay media companies for content on their platforms in reforms that countries such as Britain and Canada are looking to replicate.