Finance
Facing the Specter of Mediocrity: ByteDance CEO Calls for Heightened Crisis Awareness
January 31, 2024 – In the annual all-hands meeting for 2024 at ByteDance, CEO Liang Rubo delivered a speech where he repeatedly emphasized the need for a “sense of crisis” and included “strengthening this sense of crisis” as one of the company’s yearly objectives. Liang candidly admitted that his greatest concern stems from the fear…
Tesla CEO Elon Musk’s US$55 Billion Compensation Plan Rejected by Delaware Court
January 31, 2024 – News emerged on the 31st that Tesla CEO Elon Musk’s US$55 billion compensation plan has been rejected by the Chief Justice of the Court of Chancery in Delaware, following raised by Tesla shareholders. The judge opined that the massive stock option award granted to Musk by Tesla in 2018 was unfair,…
Samsung Electronics Reports Historic Low Profits in 2023, Blames Semiconductor Downturn
January 31, 2024 – In a recent announcement, Samsung Electronics has revealed its financial results for the fourth quarter and the entirety of 2023, painting a bleak picture for the tech giant. The company’s operating profit for the year plummeted by a staggering 84.86%, reaching a historical low of 6.567 trillion Korean won (approximately 35.4…
OpenAI Debuts on Hurun Global 500 as Valuation Surges, AGI Research in Focus for 2024
January 31, 2024 – The Hurun Research Institute today unveiled its “2023 Hurun Global 500” list, highlighting the world’s top 500 non-state-owned enterprises ranked based on their market value or valuation. It is reported that the threshold for entering the Hurun Global 500 has increased by 7% compared to the previous year, amounting to a…
Tesla Unveils Bold Capital Expenditure Plans for 2024 and Beyond
January 30, 2024 – Tesla has today shed light on its capital expenditure plans for 2024 and beyond through the release of its 10-K report. In keeping with its tradition of increasing investments, the electric vehicle giant anticipates spending at least 10billionthisyear,anamountthatequatestoapproximately71.8billionChineseyuan.For2025and2026,thecompanyhasbudgetedbetween8 billion and $10 billion. Acknowledging the dynamic nature of its undertakings, Tesla cautioned…
Tesla Stock Surge Propels Musk Back to Top of World’s Richest List
January 30, 2024 – Tesla Shares Surge, Boosting Musk Back to World’s Richest In a significant market move on January 29th, Tesla’s stock price experienced a notable increase of 4.19%, closing at 190.93pershare.Thissurgeinvalueelevatedthecompany′stotalmarketcapitalizationtoawhopping606.95 billion. Consequently, this significant jump in Tesla’s stock price has propelled its CEO, Elon Musk, back to the top spot as the…
Amazon Prime Video Launches Ads in the US, Anticipating a New Revenue Boom
January 30, 2024 – Amazon has reportedly begun rolling out advertisements on its Prime Video service in the United States, a move that is anticipated to open up a new revenue stream for the retail giant. Industry experts are estimating that this new venture could generate up to 5billionannuallyforAmazononcefullyimplemented.Ofthissum,3 billion is expected to come directly…
J.P. Morgan: Apple’s New European Fee Structure to Have Minimal Impact on App Store Revenue
January 26, 2024 – In a recent commentary, J.P. Morgan has stated that Apple’s newly implemented fee structure in Europe is unlikely to have a significant impact on the overall revenue of the App Store. To comply with the Digital Market Act (DMA), Apple has altered its business practices in the European Union, reducing its…
Intel Reports Mixed Q4 2023 Results, Shares Tumble on Weak 2024 Outlook
January 26, 2024 – Intel today unveiled its financial results for the fourth quarter of 2023, revealing a mixed bag of outcomes. The tech giant reported revenues of 154.1billionforthequarter,surpassinganalystexpectationsof151.7 billion and marking a 10% year-over-year increase. Net income for the quarter stood at 27billion,asignificantturnaroundfromthenetlossof7 billion reported in the same period last year. Intel also boasted…
Netflix and Apple Lead in Revenue Per Employee Among Global Tech Giants, According to Ondeck Report
January 25, 2024 – A recent report released by market research firm Ondeck reveals that Netflix tops the list of global technology companies with the highest revenue per employee, generating 2.49million(currentlyequivalenttoapproximatelyRMB17.853million).Applefollowscloselybehindinsecondplacewith2.348 million (currently equivalent to approximately RMB 16.835 million) per employee. Based on the Forbes Global 2000 list, Ondeck’s data analysts examined the employee count…