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Time Is Money

Jul 30, 2023 • 6 min read

Trending:

SpaceX
Netflix AI Role
TikTok Shopping

Week Recap:

Nationwide protests erupted across Israel on July 24, 2023, in response to the parliament's approval of a bill that curbs some Supreme Court powers, resulting in 19 arrests. Passed by a 64-to-0 vote after opposition lawmakers walked out, the law limits the Supreme Court's authority to overturn certain government decisions.
TikTok is expanding its reach into the music streaming sector, challenging Spotify and Apple Music's dominance. This month, TikTok launched its music streaming service in Indonesia and Brazil, which are its second and third-largest markets, and began testing TikTok Music in Australia, Mexico, and Singapore.
Microsoft's fiscal fourth-quarter results exceeded predictions, with an 8% jump in revenue to $56.2 billion and a 20% rise in profits to $20.1 billion. Earnings per share also increased by 21% to $2.69.
Adidas has received a whopping $563 million in Yeezy orders since resuming sales. It's noteworthy that these sales have considerably surpassed their initial projections, illustrating the enduring popularity of the Yeezy brand.
Al Hilal, a Saudi soccer club, has made an offer of $1.1 billion for striker Kylian Mbappé, who at 24 is among the top soccer players globally. Currently playing for the French team PSG, Mbappé finds himself in a tense contract dispute with the club.
In a recent Congressional hearing, a range of extraordinary claims concerning Unidentified Aerial Phenomena (UAPs), previously referred to as UFOs, were discussed. The most notable claims were made by whistleblower David Grusch, a former intelligence official, who insisted on the existence of classified governmental programs meant to recover crash-landed unidentified aircraft.
The U.S. Federal Reserve (FED) has raised interest rates by 25 basis points.
TikTok has added text-based posts to its content options, entering the text-based social network arena. The feature allows users to create posts with customized text, music, and stickers, similar to Instagram stories. This move comes as platforms like Threads by Meta and Bluesky aim to replicate the text-focused experience provided by Twitter (X).
T-Mobile US recorded its best Q2 subscriber growth in eight years, exceeding Wall Street's expectations. The US carrier added 760,000 postpaid phone subscribers, more than rivals AT&T and Verizon, due to its cheaper plans and 5G services following the $23 billion acquisition of Sprint in 2020. Despite the growth, Q2 revenue dropped by 2.6% to $19.20 billion, slightly under projections.
McDonald's reported earnings with sales of $6.5 billion, surpassing the projected $6.4 billion in sales. Sales growth was seen across all operating segments, indicating a consolidated global comp growth of 11.7%.
NASA's Artemis program aims to establish a permanent moon base by collaborating with three major companies: Blue Origin, SpaceX, and Dynetics. They received a portion of NASA's $150M fund, with Blue Origin taking the largest share to extract valuable materials from lunar soil, thereby providing building materials and a constant air supply for astronauts.
The US House Financial Services Committee has approved a new bill called the "Keep Your Coins Act of 2023," which aims to protect the rights of individuals to self-custody their digital assets. This move was initiated by Republican congressman Warren Davidson. The bill, officially known as H.R. 4841, will ensure investors can keep their cryptocurrencies in their own wallets.
The company 𝕏, formerly known as Twitter, announced a new record of 541.6 million monthly users in July, 2023. This represents a substantial increase from 237.8 million users the previous year, even after accounting for a 20% bot population. The growth, factoring in bot removal, ranges between 150% to 250%.

SpaceX:

SpaceX has successfully completed 250 missions into space, an achievement that has facilitated the deployment of over 4000 Starlink satellites into orbit. These satellites are vital in providing global broadband coverage, democratizing internet access across the globe.
In addition to contributing to the world of communications, SpaceX has introduced pioneering ride-share services for space transport and has played a significant role in manned missions, including ferrying astronauts to the International Space Station.
Moreover, SpaceX's contributions to defense and security are substantial. The company has been instrumental in enhancing military communications and earth observation capabilities.
In a partnership with the Department of Defense, SpaceX has utilized its expertise in space transport and satellite deployment to improve satellite capabilities crucial for national security. These accomplishments highlight SpaceX's multifaceted role in advancing space exploration, communication infrastructure, and defense technology.

Netflix AI Role:

Netflix is hiring for AI and machine learning roles. The jobs include a Product Manager for their Machine Learning platform, with a salary up to $900,000, and a Generative AI Technical Director in their gaming studio, paying up to $650,000.
AI will be utilized in various sectors of Netflix's operations, such as content creation and user recommendations. AI technology is a contentious issue in the ongoing actors' strike. SAG-AFTRA's chief negotiator, Duncan Crabtree-Ireland, dubbed generative AI a threat to actors' careers.
The union members walked out after failing to agree on AI usage terms in a new contract. Background actors reported that studios proposed to pay them a day rate for scans used to digitally recreate them, with rates possibly as low as $200 per the union's contract.

TikTok Shopping:

TikTok is venturing into e-commerce by launching a low-cost shopping experience within the app, challenging existing platforms like Temu and Shein.
The shopping experience will feature goods made in China and is set to launch in the US as early as August. Similar to Amazon’s “Sold by Amazon” program, TikTok will handle storage, shipment, and transactions on behalf of Chinese retailers. The initiative aims to diversify TikTok's revenue beyond advertising.
TikTok is said to pay retailers only after their goods sell and has the ability to return unsold items. The company has also allegedly hired former Temu and Shein staff as warehouse and order managers, as well as negotiators for retail pricing. TikTok's focus appears to be on affordable goods, as some applicants with higher-priced items were reportedly rejected.
Despite recent regulatory challenges in the US, including a ban in Montana starting in 2024, TikTok continues to innovate, including the launch of text posts feature. The feature allows users to create text-based messages with music and stickers, targeting platforms like Twitter and Instagram.

Statistic:

iPhones sold per year:
2007 - 1 million
2008 - 12 million
2009 - 21 million
2010 - 40 million
2011 - 72 million
2012 - 125 million
2013 - 150 million
2014 - 169 million
2015 - 231 million
2016 - 212 million
2017 - 217 million
2018 - 218 million
2019 - 187 million
2020 - 197 million
2021 - 234 million
2022 - 225 million

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