In what is pretty much a final stab in the now-old Nikola debacle, GM is officially backing out of a deal that would originally have given them an 11% stake in Nikola. Their new, watered down deal will include GM still supplying Nikola's fuel cells. However, GM will no longer be engineering and building Nikola's … Continue reading Notes on the Market: GM Finally Backs Out of Nikola Deal
Just days after the arrest of some prominent pro-democracy leaders and pro-democracy politicians in Hong Kong, Chief Executive Carrie Lam vowed to deepen ties with mainland China and pledged to "rescue the city from 'chaos'". As part of a transition deal when Great Britain handed Hong Kong back to China in 1997, it was agreed … Continue reading Diminishing Democracy in Hong Kong
Early last month, two Macy's stores in Delaware and Colorado went "dark", turning into fulfillment centers to process online orders. Spurred on by the COVID-19 crisis, the transition from traditional brick and mortar retail to online retail and e-commerce sped up, resulting in abandoned malls and stores around the country. The trend has already been … Continue reading Notes on the Market: The Beginning of the End of Retail
Bitcoin soared to massive highs recently, nearly matching its peak at $19,458 in December 2017. A lot of this has to do with the "legitimizing" of Bitcoin in the pat few months - Paypal began offering support for cryptocurrencies, for example. The US Federal Reserve is also considering the usage of "digital dollars", spurred on … Continue reading Notes on the Market: Bitcoin Bubble?
One of the biggest and most contentious efforts in the past few months was to pass a relief bill adequate enough for the American people. The Heroes Act, championed and passed by a Democratic House and now waiting for a Senate vote as part of a second stimulus check relief deal, attempts to do just … Continue reading Heroes Act Relief Bill – 350M Goes to USA’s Wealthiest
At the end of the day, the drug that receives FDA approval first will reap the most financial benefit for the company and shareholders. It will also be the first vaccine that will be rapidly deployed and distributed. But regardless who wins, this is a victory for mRNA vaccine research. Just two days ago, Moderna … Continue reading Pfizer/BioNTech vs. Moderna – A Win for mRNA Vaccines
I tend to look at a lot of app-based service startups in the same bucket. Apps such as Uber, Lyft, Airbnb, and DoorDash provide human-based services "but on your phone!". As such, these companies suffered massive losses during the COVID-19 pandemic. However, Airbnb was determined to continue with their IPO filing, and revealed something different … Continue reading Notes on the Market: Airbnb IPO Filing
Earlier this year, an important step in preserving data privacy and internet freedom was quietly won - the Patriot Act expired, a piece of news hidden behind the massive headlines of COVID-19, racial unrest and riots, and the presidential election. But the expiry of the Patriot Act is important, after it has caused uproar many … Continue reading Expiration of the Patriot Act
Yesterday, three American and one Japanese astronaut blasted into space on the first full-fledged taxi flight for NASA by a private company. Although Elon Musk himself couldn't attend the launch due to COVID, the successful mission with the Falcon rocket and Dragon capsule marked the first time a private company shuttled astronauts to the International … Continue reading Successful SpaceX Liftoff Launches New Era of Spaceflight
Chinese President Xi Jinping's personal rollback of Jack Ma's Ant Group is indicative of a stronger Communist Party willing to reign in power from big corporations. Ant Group, founded by Jack Ma, quickly became the world's biggest fintech firm, handling more payments than MasterCard and controlling the world's largest money-market fund. It was set to … Continue reading What Is Going On With Ant Group?