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September 18, 2020 Welcome to this edition of The Reader, a weekly roundup of Fortune stories and insights.
It's been another eventful week. Snowflake had one of the buzziest IPOs ever. Oracle won the battle for TikTok, but Trump has announced a download ban on the app (and on WeChat). Nvidia bought Arm to create an A.I. computing juggernaut. Walmart+ launched and is poised to poach millions of customers from Amazon Prime. Tech stocks, to the relief of investors, rebounded after a drop early this month.
Read on for more news. Clifton Leaf
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MUST READ Meet Snowflake, one of the buzziest tech IPOs ever
It's the most valuable software startup ever to go to public and the fifth most valuable tech startup ever—above Google, Lyft, and Snap.
BY AARON PRESSMAN SEPTEMBER 15, 2020
TECH
Will tech stocks stumble or slide? What the fundamentals tell us
Let's examine what Big Tech's past trajectory tells us about where the group is headed. BY SHAWN TULLY SEPTEMBER 5, 2020
COVID-19
Even the most cautious schools are seeing outbreaks
The best laid plans of colleges and universities are no assurance during a public health crisis. BY SY MUKHERJEE SEPTEMBER 17, 2020
FINANCE
BY JEFF JOHN ROBERTS AND DAVID MORRIS SEPTEMBER 16, 2020
MUST WATCH Here’s why Nvidia’s acquisition of Arm is a big deal
And why it’s facing stiff backlash.
Here's a peek at Fortune Analytics, our exclusive newsletter for Premium subscribers that brings you weekly business insights based on timely data analysis by our editorial team and exclusive polling.
This week, we polled 1,335 people on their streaming habits. Six months into the pandemic, streaming is still going strong. Among U.S. adults, 46% stream every day, compared to 45% in May and 29% last October. Even as lockdowns ease up, our daily lives have clearly departed from their old normal. 4 in 10 Americans now use Disney+. In less than 12 months, the entertainment giant has made itself into a force in the streaming business. (Fortune Analytics predicted this pre-launch). The question now: Can Disney retain these subscribers as their free trials begin ending? To get the full briefing, consider becoming a Fortune Premium subscriber. You'll also get access to all of our stories on the web and in print.
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More essential reads
From the archives
“From the technical glitches to the mobile guidance controversy, it would be difficult to characterize Facebook’s IPO, which occurred three years ago today, as anything but disaster. (Just ask Reid Hoffman, a Facebook investor and LinkedIn co-founder, who called it “a pretty egregious fuck-up.”) The ghost of that disaster haunted Facebook for its first year as a publicly traded company, with lackluster stock performance and criticisms over its slowness to the mobile trend.
But today, Facebook (FB) is the toast of Wall Street. Worth $226 billion, Facebook’s stock trades at a rich 81x price-to-earnings multiple. Anyone holding shares at the IPO has seen their value more than double.” —How Facebook overcame its disastrous IPO by Erin Griffith, May 2015 . This email was sent to newsletter@newslettercollector.com Unsubscribe | Edit your newsletter subscriptions
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