I can’t believe I’m saying this, but we’ve managed to muster up the strength to fight through another week in this dog-eat-dog world we call life. I hope that each and everyone one of you has taken the time this past week to step back from it all, and let yourself take the time you need to relax. Nevertheless, we must not forget that if we ever had one shot, one opportunity to seize everything we ever wanted in one moment, the only way we could capture this, and not let it slip through our fingers, is by recapping the previous week’s events, that way we may proceed into this new week, ready to face all the challenges it may present. Now that I have your attention, let’s enjoy another weekly recap.
Where’s My Uber (IPO)?
There was a time, not too long ago where after a night of debauchery and consumption of a few too many adult-beverages, you really had only two options for getting home; call a cab, or try and keep yourself together on public transportation. Then, like an angel from above, Uber came to the world, offering convenient, inexpensive rides to and from wherever one needed to go, and ultimately, Uber’s inception catalyzed the rideshare industry. Years later, the Company is expected to raise upwards of $10 billion later this year in one of the largest initial public offerings in the history of the U.S. stock market. According to several sources, Uber’s IPO will value the company somewhere between $76 billion and $120 billion, however, in light of the recent toxic volatility occurring in the market, some analysts believe Uber’s offering will fetch less than $90 billion.
The company’s new chief executive, Dara Khosrowshahi, has done everything in his power to bring estranged investors back into the fold, as well as create new initiatives to attract drivers and riders who might otherwise use any one of the growing ride-hailing applications. Sources indicate that the company’s IPO might be delayed due to recent negative trends in the US market.
State Of Emergency
Presently, it would seem as if President Donald Trump is trapped beneath the head of the Democratic leadership who refuses to grant him his longstanding billion dollar budget request to construct his border wall along the US-Mexico border. Initially, Trump threatened Democrats with a government shutdown if they failed to acquiesce to his demands, and, as many of you are aware, he made good on this threat. In a recent poll taken between Dec. 21 – 23, 39 percent of registered voters — including 80 percent of Republicans — approved of the president’s current performance, whereas 56 percent — including 90 percent of Democrats and 57 percent of independents — did not, according to Morning Consult. The President’s current approval ratings haven’t been this low since refused to condemn neo-Nazis who held a white nationalist rally in Charlottesville, Virginia, back in August 2017.
Suffice to say the odds have yet to be in Trump’s favor so, like a coyote caught in a trap, the President elected to take the most rational course of action he could contemplate; he threatened to declare a national emergency. Indeed, President Trump, undoubtedly feeling pressure from the 116th Congress, with its Democratic majority in the House of Representatives, told reporters at the White House on Sunday, that “we’re looking at a national emergency because we have a national emergency — just read the papers.”
Quantum, I Barely Know ‘Um
In recent news, because you obviously want to know what’s hip and happening today, not several months ago, IBM today announced their unveiling of IBM Q System One, the world’s first integrated universal approximate quantum computing system designed for scientific and commercial use, according to a press release regarding the announcement. The press release goes on to share that IBM’s new quantum computer was “designed by IBM scientists, systems engineers and industrial designers, and has a sophisticated modular and compact design optimized for stability, reliability, and continuous commercial use.”
“The IBM Q System One is a major step forward in the commercialization of quantum computing,” said Arvind Krishna, senior vice president of Hybrid Cloud and director of IBM Research. “This new system is critical in expanding quantum computing beyond the walls of the research lab as we work to develop practical quantum applications for business and science.”
–IBM Announcement of Q System One Computer
IBM’s announcement indicates the reality that computing devices will one day fail to put out the speed necessary to handle the work we use them for. As it relates to quantum computing, this is an area of computer technology that is only just now coming out of the woodwork. Though IBM is celebrating their newest creation as the first fully integrated universal quantum computing system for the consumer market, it should be noted that the 20-qubit machine will not come close to meeting the futuristic expectations of how people see quantum computers being utilized. In recognition of the company’s first attempt at this type of tech, they admitted that the Q System One is “designed to one-day tackle problems that are currently seen as too complex and exponential in nature for classical systems to handle.”
Now We Really Can’t Stop Amazon
Assuming, for the moment, that Amazon’s (AMZN) intentions are pure, many are curious as to what new industry the company will foray into as it continues to innovate and lead the industry into the future. According to recent reports, the Company announced on Tuesday that it was partnering up with Telenav, Inc (TNAV), a leading provider of connected-car and location-based-services to combine Telenav’s navigation systems with Amazon’s cloud-based voice service, allowing for the expansion of “users’ touch points beyond home and smartphone to connected vehicles. Well, there you have it folks, Amazon is now entering the automotive industry, no one is safe. According to a press release regarding the announcement, recent survey data suggests that more and more automotive consumers are making purchasing decisions based on the in-car technology included in their desired vehicles, and voice remains one of the more exciting technology trends in recent years. The survey data, gathered by Autotrader, showed that 64% percent of consumers said they would pay more for technology features in their next car purchase, so it isn’t shocking that Amazon would look to integrate Alexa into the car tech game.
“Navigation is among the most popular use cases for in-car technology, and we’re excited tote working with Telenav to make it easier for automakers and supplies to support voice-first navigation through Alexa. Using the Alexa Auto SDK, Telenav is helping make Alexa a truly integrated part of the in-car navigation system, and providing customers with a more useful, consistent experience at home and on the go.”
–Ned Curic, VP of Alexa Auto, Amazon
Alibaba Say What?
Like many of his contemporaries in the technology industry, Jack Ma has always understood the importance of investing in the future, and in advancement of this philosophy, Alibaba has been working with Data Artisans, a Berlin-based startup that provides distributed systems and large-scale data streaming services, since 2016, according to TechCrunch. Data Artisans garnered significant industry attention back in 2014 when the company developed Apache Flink, an open source large-scale data processing platform. Given the notion that companies across all sectors are famished for consumer data, and subsequent technologies to process and analyze such information, it would make sense that a company like Alibaba would get involved with Data Artisans on the cutting-room floor.
In full recognition of Data Artisans’ potential opportunities for the Company, Alibaba (BABA) acquired the German data analysis firm on Tuesday, in a deal reported to be worth around $103 million. The agreement, confirmed by blog posts from both Alibaba and Data Artisans, will create a collaborative partnership predicated on building and innovating around Big Data open source technologies. Data Artisans co-founders Kostas Tzoumas and Stephan Ewen naturally celebrated the recent acquisition of their company, but not solely because of the payout given to each of them.
Alexa, Please Contact My Lawyer
When Jeff Bezos was born in the city that never sleeps, Albuquerque, New Mexico, he too fantasized about falling in love. “Maybe her name will be Alexa, no…that seems weird, but I’ll keep that one for safekeeping.”In 1992, a period heralded as the golden age of romance, Bezos met MacKenzie Tuttle, and within a year, they were married. Some say that Tuttle’s love for Bezos gave him the drive to found Amazon (AMZN) two years into their matrimony, while others praise his business acumen. Howbeit, as many single-and-ready-to-mingles will tell you, not all marriages can withstand the test of time.
It is with great sadness that I report that Bezos today announced, via a tweet from his Twitter account (TWTR), that he and his wife are divorcing. Bezos’ tweet, sent out earlier morning, said:
“We want to make people aware of development in our lives. As our family and close friends know, after a long period of loving exploration and trial separation, we have decided to divorce and continue our shared lives as friends. We feel incredibly lucky to have found each other and deeply grateful for every one of the years we have been married to each other. If we had known we would separate after 25 years, we would do it all again…”
–Jeff Bezos via Twitter
Lyft; The Vehicular Underdog
Since its inception, Lyft has played a massive game of catch-up in a market dominated on all fronts by Uber Technologies. While both companies have emerged as the leading brands in the ride-hailing industry, Lyft has historically ridden in the back seat, with Uber confidently at the wheel, touting a potential $120 billion valuation. In an effort to stay relevant in the eyes of both consumers and investors in the ride-share space, Lyft unleashed its own fleet of electric scooters in major cities across the country back in September. As for their first target location, the Company decided to drop its wheeled friends in Denver, Colorado. Though I cannot confidently say that I’ve seen nearly as many Lyft scooters as I have Jump, Bird, and Lime, the latter two belong to two other major companies in the micro mobility sector.
“Lyft Bikes and Scooters will be our most affordable transportation options, and will extend mobility to communities that have historically been underserved. We will work alongside leading local non-profits and community groups across the country. Together we will develop income eligibly programs and community outreach to ensure transportation access and affordability to those who need it most.”
–John Zimmer & Logan Green, Lyft Co-founders
In recent news, Lyft is partnering up with Segway NineBot, the company to blame for manufacturing the electric scooters you see on your sidewalks, to roll out the next generation of shared scooters, according to TechCrunch. For those unaware of the abuse some of these scooters undergo, I’d highly recommend checking out the”Bird Graveyard” Instagram account, a profile replete with content featuring everyday citizens destroying electric scooters by lighting them on fire, throwing them off bridges, and any other violent act of scooter-based aggression you can imagine. Segway Ninebot is well aware of this unintentional wear and tear and, with the help of Lyft, the Company plans on releasing a more durable scooter, the Model Max, sometime later this year. Per the reports regarding the new scooter, Model Max is designed “taking into consideration complex shared usage scenarios, consumer overuse of vehicles, operation models and maintenance cost.” While I can guarantee that no scooter will be flame/bridge retardant, Segway Ninebot says they will share more information towards the end of January.
McConnell With The Block!
Several media outlets took a break from covering Jeff Bezos’ impending divorce to cover Mitch McConnell’s electing to block Senate Democrats from getting the chamber to vote on spending bills to reopen the government. If you’re just tuning in, I’m unsure how you’ve made it thus far with your head buried beneath the sand. Chunks of the United States Federal Government have been shut down for twenty days since President Donald Trump threatened and made good on his words to shut down the government if Democratic leadership in Congress refused to grant him his long-standing billions dollar budget proposal to construct a massive border wall along the US-Mexico border.
House Democrats are insisting that the Senate reopen parts of the federal government not related to the border wall after reports surfaced that thousands of government employees are struggling to feed their families since they’ve been out of work for the last three weeks. Regardless, Senate Majority Leader Mitch McConnell, in congruence with President Trump, has made it abundantly clear that he won’t budge on any legislation related to the shutdown that he feels demonstrate “pointless show votes that make up political stunts that won’t get us anywhere.”
Looking Forward
As much as it pains me to write this, as we move into the upcoming week, we are faced with dealing with the fact that parts of the federal government remain completely and utterly shut down. It would seem as though President Trump is willing to do anything necessary, including declaring a state of emergency, just to secure the funding to build a border wall that, to be honest, people aren’t largely convinced is absolutely necessary. Though the Democratic leadership proposed legislation to Congress to appropriate funding and end the shutdown, Senate Majority Leader Mitch McConnell promptly swatted down the attempt. Perhaps we will see an end to the shutdown this week, but based on recent events, I am largely doubtful.
