1. Apple’s Switch Away from Intel
Apple is planning to replace Intel processors with their own chips starting sometime around 2020. Intel’s chip improvements have stagnated, while Apple is leaning towards an ambitious vertical integration outlook. What’s wrong with Intel? Intel has not been able to provide investors with a viable chip roadmap for the future. Team Apple, on the other hand, is pushing the idea of integration. Apple will produce in-house processors to control the quality of their products, protect themselves from monopoly prices, and create complementary code in a more efficient manner.
(Source: The Verge)
2. Spotify’s Unusual IPO
On Tuesday, Spotify officially went public. However, they didn’t pursue the traditional Initial Public Offering (IPO) route. Unlike with a traditional IPO, Spotify is not issuing new shares, but rather selling a large portion of its existing stock. And instead of hiring investment banks to find pre-qualified buyers to purchase the shares, the company is issuing that stock directly to the public, a method called “Direct Listing.” While this move may be risky since it is not guided by financial experts, if successful, Spotify will set the stage for incentivizing other businesses to forgo the costly middleman. Spotify ended Tuesday with a closing price of $149.01.
(Source: INC)
3. Active Shooter at YouTube HQ
Yesterday afternoon, a female perpetrator shot and injured three people at the YouTube headquarters in San Bruno, northern California before turning the gun on herself. Three victims were rushed to a trauma center with varying conditions. As an avid YouTube user, the woman posted statements including, “There is no equal growth opportunity on YOUTUBE or any other video sharing site, your channel will grow if they want to!!!!!” one post reads. “Youtube filtered my channels to keep them from getting views!” The woman’s grievances against YouTube appear to be centered around censorship and revenue.
(Source: CNN)
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