Trump Social: revenue tumbled 39% year-over-year in the fourth quarter to just $751,500. Accountant questions going concern. Market cap still at 5.26b after today’s 24% drop.
In the US, some 300 banks are at risk of failure due to the commercial real estate problem. $2.7 trillion of bank assets in the aggregate. About 14% of all loans and 44% of office loans appear to be in a “negative equity”. Around one-third of all loans and the majority of office loans may encounter substantial cash flow problems and refinancing challenges. https://www.nber.org/papers/w31970
Between 2021 and 2022, oil use in conventional cars, excluding SUVs, remained roughly the same, but the oil consumption of SUVs globally increased by 500 000 barrels per day, accounting for one-third of the total growth in oil demand.
Spotify total monthly active users hit 602 million in the quarter — a 23% improvement. Premium subscribers at 224 million — a 15% year-over-year jump. Spotify expects subscriber count to increase to 239 million in the first quarter. Q4 net additions of 10 million contributed to record full year net additions of 31 million.
Apple Card has more than 12 million cardholders. Users earned more than $1 billion in Daily Cash from spending on Apple Card last year. Assuming average of 1.5% Daily Cash, spending is over $66.6 billion or $5.5k per user per year.
If Tesla means EVs in the U.S., in China, BYD does the same. Initially a maker of phone batteries, BYD released its first electric car in 2009. When asked about BYD in an interview two years later, Elon Musk flat-out laughed at the company, saying, “I don’t think they have a great product.” And yet in Q4 2023, BYD surpassed Tesla to become the biggest EV seller in the world. BYD has reportedly about 90,000 employees in just their R&D division, compared with Tesla’s 128,000 employees total.
“Some consumers said Sunday that their Apple Vision Pro orders could take as long as six weeks to ship”
Naysayers are still saying nay as that is what they do.
“The real test will be to see how quickly the Vision Pro reaches 1 million orders. The Apple Watch hit that number in its first day, while the iPad took 28 days. The iPhone took 74 days to reach it.”