Michael and Johnny look at a second week of tech earnings - Zoom, Tesla, Netflix, Shopify, Twitter, Twilio, and Uber. We discuss the state of the tech economy and the new opportunities presenting themselves during this lockdown.
In the News of the Week, we cover the escalating saga of Chinese apps being banned and Twitter's second chance at owning short-form video through a long-shot merger with TikTok.
Recorded Date: Sunday, August 9, 2020
Time Stamps
- 00:00:18: TikTok Update
- 00:03:15: Twitter's second chance at short-form video
- 00:06:48: More Earnings
- 00:34:01: The state of the tech economy
- 00:39:22: New opportunities in lockdown?
Highlights
- The saga continues - The TikTok ban has become an all-out assault on Chinese apps with the expanded ban on WeChat
- This will also hurt American companies as they won't be able to advertise on WeChat which is how they can reach the Chinese consumer
- Twitter has a type
- Who needs whom more? Twitter or TikTok? Why would TikTok merge with Twitter?
- It is still a Zoom world
- Elon Musk moonwalked into the earnings call - Tesla made more revenue than Youtube
- Is Netflix losing steam with guidance lower than half of the expectations net subscribers growth next quarter?
- As expected, Shopify had a blockbuster quarter with revenue up 97%
- Twilio's position allows it to provide a view into which industries are thriving and which industries are suffering
- Uber's self-driving car division brought in revenue for the first time
- Twitter IPO'd in 2013; Uber IPO'd in 2019 - their share prices are $5 apart
- Twitter has been surviving all these years so it could be available for when TikTok came around
- Uber is able to lean on its different divisions - what will Lyft be able to do to survive?
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