Welcome to 2001 / 2021, where GameStop are hot in the stock market and Tom Brady is off to the Super Bowl.
Reddit users take down a $13B Hedge Fund.
Netflix expects profits in 2021 for the first time in its history.
Clubhouse, the audio based chatroom, is valued at $1 billion.
Forbes is providing journalists opportunities to capitalize on their entrepreneurial spirit.
Peacock announces exclusive content partnership with WWE.
A virtual CES has the usual array of phones, TVs and robots.
Feel free to comment, share and provide topics you would like to be covered. Happy reading!
Reddit account with 4 million followers
Shares in a US games company have soared more than 300% in the past week - the result of a fight between private and professional investors. Video games brick-and-mortar retailer Gamestop is arguably a relic in a world moving online.
Analysts blame tech-savvy young day traders for taking on hedge funds in a conflict with generational overtones.
WallStreetBets and its 4M followers are taking on the Wall Street hedge funds who have shorted GameStop.
Shares rose from $20 to $469 in January.
As of this writing, RobinHood (a popular app for small day traders) blocked any purchases of GameStop stock, along with other popular stock such as Blackberry, Nokia and AMC Theaters.
The Big Picture
As if 2021 couldn’t get any stranger, this was a case of RobinHood taking from the rich and giving to the poor, until they didn’t. RobinHood has now blocked users from purchasing GameStop shares. The company founded on looking after the little guy flips, setting up the “house” for inevitable victory. Maybe it's due for a rebrand now?
Netflix Forecasts Profit in 2021
After crossing the 200 million global subscriber threshold at the end of 2020, Netflix Inc projected that it will no longer need to borrow billions of dollars to finance its broad slate of TV shows and movies.
The world’s largest streaming service had raised $15 billion through debt in less than a decade.
From October to December, Netflix signed up 8.5 million new paying streaming customers as it debuted the widely praised “The Queen’s Gambit” and “Bridgerton” and introduced a new season of “The Crown”.
Netflix’s worldwide membership reached 203.7 million. The company that pioneered streaming in 2007 added more subscribers in 2020 than in any other year, boosted by viewers staying home during the coronavirus pandemic.
The Big Picture
The lack of moviegoers in 2020 has necessitated the shift of big movies to online streaming. With this competition in the space heating up, Warner Bros scrapped the traditional Hollywood playbook and announced that it would send its entire 2021 movie slate straight to HBO Max as well as theaters. Netflix is the only streaming service projecting a profit; Disney and others expect to lose money over the next few years.
Clubhouse - The New Drop-in Audio App
Clubhouse is the latest invite-only app to rock the world of social media, and the music industry in particular. Here’s everything you need to know about this new phenomenon.
Think of it as a virtual cocktail party. Clubhouse is a new, exclusive, audio-based, social media app. It lets its users “talk, tell stories, develop ideas, deepen friendships, and meet interesting new people around the world.”
In the app, you can join or listen in on chat rooms covering a broad array of subject matter.
The app is still in beta-testing and is currently available to iPhone users only. So for now, iPhone users can download the app from the Apple store and reserve a username.
The Big Picture
Clubhouse has been the recent recipient of criticism regarding the moderation and prevention of hate speech and bullying. The app is taking its time to iron out these issues and to build a better community before fully opening its doors to the public. As an Android user, I will have to wait a little longer before experiencing the app. If you are already using it, I would love to hear your feedback and experience.
Forbes launch expansion of paid newsletters
Forbes is introducing a program that will allow journalists to launch their own paid newsletters while splitting revenue with the 103-year-old publisher, executives tell Axios.
While other publishers have built businesses around licensing their proprietary technology to strictly media companies, Forbes will target a broader range of companies and individuals looking to more effectively communicate.
Writers split subscription revenue for newsletters 50/50 with Forbes.
Writers also receive a cut of ad revenue, with no cap on potential earnings.
The arrangement comes with the guaranteed minimum of a full-time Forbes salary and benefits, as well as legal support, editorial guidance, copy editing, and fact-checking assistance.
The Big Picture
Forbes' approach to providing revenue opportunities for independent journalists is an interesting middle ground for many journalists. While a 50/50 revenue share may seem steep, many journalists will see greater value in the security and cost savings associated with having health insurance, a guaranteed salary, and access to copywriters and advertisers. Few journalists have successfully built their businesses alone, and this presents an opportunity for many to focus exclusively on writing. Content ownership is still under discussion, however.
Peacock Purchases Exclusive WWE Rights
NBCUniversal’s direct-to-consumer streaming platform Peacock has struck a deal for exclusive rights to World Wrestling Entertainment Inc. content, the two companies said.
WWE Network is adding 1.2 million subscribers to Peacock’s 26 million.
Peacock subscriptions start at $4.99 per month and will now include content like “WrestleMania” and “WWE Icons.” The commercial-free “premium” version costs $9.99 per month.
The Big Picture
This move comes soon after NBC’s announcement that it will shut down NBC Sports Network by the end of the year — a decision intended to bolster Peacock as it competes with giants like Netflix and Disney+.
GM is the latest automaker to investigate the electric air-taxi business.
CES went ahead this year as a virtual technology conference, with many companies working to address challenges during the pandemic. The highlights include the usual array of TVs, phones and a robot butler, along with GM using the conference as an opportunity to reposition itself as an EV company.
Cadillac eVTOL Air Taxi - GM used CES to announce that it's transforming itself into an EV company. The Air Taxi is more of a giant drone than a flying car, but this is the kind of stuff that the CES audience loves.
LG’s Rollable Phone - Like foldable phones, it looks amazingly futuristic but doesn't have a ton of obvious benefits. This is a product LG plans to bring to market in 2021.
Samsung Robot Butler (Bot Handy) - The Bot Handy robot butler can help with tasks around the house and bring you a drink. The demo video showed the robot butler loading a dishwasher.
TCL TVs expand to 85 inches and 8K - The popular TV maker is likely to be competitive on cost and make both 85-inch screens and 8K more affordable for a lot more people in 2021. The timing is obviously great for people getting 100% of their entertainment at home right now.
High Tech N95 Masks - Gaming company Razer showed off a concept for a high-tech face mask with active ventilation, a clear shield so you can see people speaking and a case that simultaneously recharges the ventilators and does UV sanitation of the mask.
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