AkhenOsiris
AI seems more useful than crypto 🤣

Wow Klarna's AI customer support agent is able to handle 2/3rd of the requests by itself in its first month and is doing the job of an equivalent of 700 agents. - Tanay Jaipuria
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AkhenOsiris
Not many tv talking heads who hold steadfast theses will ever admit they are wrong (looking at you Mike Wilson, Dan Suzuki, Dan Nathan, Dan Niles).

I was wrong on the Apple Car, and even more wrong on the Apple Television (killed in 2017).

Over the past three years, I'd put the odds at 50% that Apple Car would see the light of day. Most investors put the odds at 10%.

Separately, before today's news, I had the odds at 90% that Apple would do something in generative AI in the next one-two years.

Setting aside the odds, I'm just bummed out that they're not doing both. An Apple Car would have been epic. - Gene Munster
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AkhenOsiris
Sharpen your pencils, $AAPL EPS going up a penny or two with Car spend axed
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AkhenOsiris
July 2022:

Morgan Stanley's Adam Jonas: $AAPL is going to do a car and it's going to be a gamechanger invidious.esmailelbob.xyz/watch?v=isV0uTHr…
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AkhenOsiris
In about 5 years: $META is cancelling a decadelong effort to build the metaverse

Apple is canceling a decadelong effort to build an electric car trib.al/j4BrCpo - Bloomberg
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AkhenOsiris
Another boon for AI:

Many Apple Car employees will shift to AI
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AkhenOsiris
Sorry Gene Munster

*APPLE WINDING DOWN ELECTRIC CAR PLANS, ENDING DECADE-LONG FORAY

$AAPL
from Bloomberg - Trader 53
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AkhenOsiris
$AMZN

Amazon is quietly developing an internal ad tech project called ID++, which is part of its long-term strategy to win online advertising in the post-cookie era.
The project was recently promoted on an Amazon Advertising job posting site, but it has since been removed. Amazon said in the job posting: “The ID++ Program supports the next generation of innovative products and services that will fuel the future growth of Amazon’s ad solutions in an identity-restricted world.”
Amazon removed the job description after Ad Age reached out for comment. One marketing technology partner, who spoke on condition of anonymity, said they were aware of ID++, and that Amazon had been discussing the program with partners.
“This is an internal project team that is developing a range of modeled and contextual addressability solutions,” an Amazon spokesperson told Ad Age by email.
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AkhenOsiris
Good point here on productivity gains, which is a sensitive topic re: job losses

"My software analyst yesterday mentioned how impactful AI already is, and will be, for productivity and margins going forward (though companies are not incentivized to broadcast this)"

JPM's Kolanovic on island of his own even amongst JPM colleagues

🔹MAG 7 cheaper than the rest of the S&P 493, at only
1.1 PEG ratio
🔹 #AI already impactful for productivity and margins
🔹Productivity gains likely underestimated by
economists

$SPX $SPY $QQQ $NDX - Seth Golden
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AkhenOsiris
$AMZN adage.com/article/digital-ma…
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Hidden Value Gems
Worth paying attention to

👇 $RUT vs $SPY

h/t @TaviCosta
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The Long Investor
$BTC when those laser eyes come back, that will signal the short term top.
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BizToc
👉🏻 For more, visit biztoc.com and never miss a beat in the world of business news.
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BizToc
4) EA's Strategic Retrenchment —

Electronic Arts announces cutting 5% of its workforce, sunsetting certain games to fine-tune its portfolio. #EAWorkforceCut
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BizToc
3) Paramount’s Profit Surprise —

Paramount exceeds profit forecasts despite falling revenues, banking on strong streaming growth to counter ad headwinds. #ParamountEarnings
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BizToc
2) Okta Beats Odds Post Breach —

Okta surpasses earnings expectations even after grappling with a high-profile security breach, showcasing resilience. #OktaEarnings
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BizToc
📰 BizToc.com Hourly News Flash

1) Thrasio’s Debt Dilemma —

E-commerce giant Thrasio, once a top Amazon brand aggregator, files for bankruptcy seeking debt relief. #ThrasioBankruptcy
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