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☆ Another tech bubble bursts: 2022 has been brutal for Silicon Valley workers
▼ + stars: | 2022-11-27 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +28 min

Gem: 100A maker of recruiting software, the startup cut a third of its workforce Nov. 1, The Information reported. HealthCare.com: 149The health insurance marketplace announced the job cuts Aug. 3, Miami Inno reported, citing state regulatory filings. Fabric: 120The robotics startup said July 13 that it was layoffing off 40% of them, TechCrunch reported, citing company confirmation. It affected about 300 people, the Silicon Valley Business Journal reported, citing company confirmation. Policygenius: 170The online insurance company cut about 25% of its staff, Axios reported June 6, citing company confirmation.

Among them is Best Buy: Its holiday sale began on October 24 and we expect even better deals to pop up today. It's now available on clearance from Best Buy, making it even more affordable to buy than ever. $739.00 from Best Buy Originally $799.00 Save 8%Best Buy Cyber Monday 2022: What to expectThough Best Buy's holiday sale already kicked off a while ago, the best deals are cropping up today on Cyber Monday. Best Buy has stated that its sale has already begun since October 24, but we expect the best deals to show up on Cyber Monday. Best Buy store hours differ by location, so you'll need to check your local store's Cyber Monday hours.

☆ Tech's reality check: How the industry lost $7.4 trillion in one year
▼ + stars: | 2022-11-25 | by ( Rohan Goswami | ) www.cnbc.com time to read: +14 min

Not one of the 15 most valuable U.S. tech companies has generated positive returns in 2021. In total, investors have lost roughly $7.4 trillion, based on the 12-month drop in the Nasdaq. In the war for talent and the free flow of capital, tech pay reached new heights. Loading chart...SPACs allowed companies that didn't quite have the profile to satisfy traditional IPO investors to backdoor their way onto the public market. A slowing IPO market informs how earlier-stage investors behave, said David Golden, managing partner at Revolution Ventures in San Francisco.

☆ Amazon Can’t Get Peloton Back in the Black
▼ + stars: | 2022-11-24 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Peloton has been working to reduce the number of showrooms it runs, like this one in Walnut Creek, Calif. Even the Everything Store can only do so much. When it comes to Peloton, Amazon can definitely be of some help. The e-commerce giant started selling Peloton’s basic stationary bike in late August, one month before the end of the equipment company’s fiscal first quarter.

☆ Here are Tuesday's biggest analyst calls: Apple, Amazon, Costco, Alphabet, Nvidia, Coinbase & more
▼ + stars: | 2022-11-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Cowen downgrades Peloton to market perform from outperform Cowen said there's too much uncertainty around the stock. "We downgrade PTON to Market Perform on challenging post-pandemic trajectory and demand uncertainty amid turnaround effort." Cowen downgrades Lyft to market perform from outperform Cowen said it sees macro and insurance cost headwinds. Cowen downgrades Wayfair to market perform from outperform Cowen downgraded the stock due to macro headwinds. Morgan Stanley reiterates Alphabet as overweight Morgan Stanley said its survey checks show that "GOOGL's position at top of e-com funnel remains strong."

☆ Biden at 80: A ‘respecter of fate’ considers a second White House bid
▼ + stars: | 2022-11-20 | by ( ) www.cnbc.com time to read: +14 min

US President Joe Biden disembarks from Air Force One upon his arrival at the airport of Egypt's Red Sea resort city of Sharm El-Sheikh, to attend the COP27 climate conference, on November 11, 2022. It's soon time for Joe Biden, 80 on Sunday, to decide whether he has one more mountain to climb — the one to a second term as president. Getty: President Joe Biden gives remarks on student debt relief at Delaware State University on October 21, 2022 in Dover, Delaware. "While President Biden may chronologically be 80 years old, biologically he probably isn't," he said. U.S. President Joe Biden smiles during a rally with Democratic nominee for Maryland Governor Wes Moore, U.S.

☆ Peloton to sell exercise bikes on Amazon UK to improve demand
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 16 (Reuters) - Peloton Interactive Inc (PTON.O) will start selling its exercise bike and other fitness accessories on e-commerce giant Amazon.com Inc's UK platform, it said on Wednesday, in an effort to combat slowing demand. Peloton said in mainland UK, its bikes will be available for in-home delivery and first-time customers will have the option to assemble it themselves or select an expert assembly option. The company generated about 8% of its total revenue from international sales in the first quarter ended Sept. 30. Peloton will also launch in Amazon's German store in the coming weeks, the company said. Shares of the New York-based company were up 1.7% at $12 in premarket trading.

☆ Peloton to sell exercise bikes on Amazon UK
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

Nov 16 (Reuters) - Peloton Interactive Inc (PTON.O) will start selling its exercise bike and other fitness accessories on e-commerce giant Amazon.com Inc's UK platform, it said on Wednesday, in an effort to combat slowing demand. The move by the company, which has embarked on a cost-cut plan to achieve profitability, follows a similar sales push on Amazon (AMZN.O) in the United States in August. read morePeloton will also launch in Amazon's German store in the coming weeks, the company said. Reporting by Kannaki Deka in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ The tech firms laying off hordes of staff right now will regret it, experts say
▼ + stars: | 2022-11-15 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

Major tech firms including Alphabet, Meta, Snap, and Twitter have laid off staff or frozen hires. But layoffs take the sheen off big tech firms' brand image, two tech execs told Insider. Tech firms that are slashing jobs and laying off staff are making a "major mistake" because future candidates will remember how those organizations acted during the downturn, tech and hiring execs say. "You're cutting your investment in future technology, that's number one. Instead of taking a hardline cutting and savings approach, tech firms should refocus on retaining loyal employees and cultivating talent.

☆ Why corporate leaders like Mark Zuckerberg, Jack Dorsey, and Evan Spiegel are all apologizing for the massive layoffs at their companies
▼ + stars: | 2022-11-15 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +10 min

Since the pandemic, the largest tech layoffs have been at Meta, Getir, Booking.com, Twitter, Uber, Better.com., Peloton, and Groupon, Layoffs.fyi data show. Now companies in tech are reversing some of the huge hiring that they did in the past couple of years, Lee said. Mark Zuckerberg, MetaFacebook CEO Mark Zuckerberg speaks about "News Tab" at the Paley Center, in New York on October 25, 2019. In the memo he wrote: "Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended. Jack Dorsey, ex-CEO TwitterTwitter CEO Jack Dorsey testifies before the House Energy and Commerce Committee in Washington, DC, in 2018.

☆ Nio speeds then sputters on path to profitability
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Yet costs accelerated at breakneck speed, causing its net loss to increase nearly five times from a year earlier to nearly $600 million, William Li’s $17 billion company reported on Thursday. Li told analysts he expects the automaker’s core business to break even in the fourth quarter of 2023, without offering detail. His optimism is undermined, however, by signs the company has lost control of costs. Nio can’t be blamed for rising battery costs or China’s zero-Covid campaign, as they are out of Li’s control. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Tiny crack opens in China’s zero-Covid wall
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Nov 11 (Reuters Breakingviews) - Beijing announced minor relaxations of its pandemic policy on Friday, including shorter quarantine periods and more narrowly targeted lockdowns. Rumours of relaxations surfaced earlier this month, so the latest announcement lends credence to arguments that President Xi Jinping will return to economic pragmatism. Pressure to revive domestic consumption is becoming acute after the critical export sector suddenly contracted in October. If Beijing can convince sceptical retirees to get the jab, China might avoid a surge of nursing home deaths as observed in Hong Kong. To be sure, none of these marginal measures will do much to revive consumption, production or property investment.

☆ SoftBank buyout goes from impossible to improbable
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

The $74 billion Japanese investor logged earnings of $21 billion in the three months to end September after trimming its stake in Alibaba (9988.HK). It offsets some gloom as technology valuations plummet; writedowns of its punt on crypto exchange FTX will follow. Expectations that these repurchases are a prelude to a buyout have helped lift SoftBank’s shares by one quarter in the past month. But any further sales of Alibaba or other assets would give SoftBank the firepower to keep buying out minorities. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ How a Disney creator helped edtech startup Paper create an interactive kids' streaming service that's like Peloton — but with math
▼ + stars: | 2022-11-11 | by ( Elaine Low | ) www.businessinsider.com time to read: +4 min

Paper Live, a interactive, educational live-streaming platform, launched in September 2022. The streamer is part of remote tutoring service Paper, which partners with school districts. This fall, it premiered Paper Live, a live-streaming service that includes an interactive element — and has a Hollywood-seasoned writer/executive producer at the helm. The newly expanded Paper Live launched around the start of the 2022-2023 academic year in the US. "We're seeing an uptick in not just usage of Paper Live but Paper in general because they're more familiar with the platform," said Cutler.

☆ Gyms and at-home fitness battle for prominence this holiday season
▼ + stars: | 2022-11-11 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Michael Loccisano | Getty ImagesThe fitness industry appears headed for a strong holiday season, but not everyone will see a boost. Now inflationary pressures and a post-lockdown reset look poised to benefit traditional gyms and trade-down options — threatening connected at-home fitness equipment like the products made by Peloton and Lululemon -owned Mirror. Tarlowe, who covers Planet Fitness and Lululemon, said fitness spending remains steady, even among lower-income, inflation-squeezed consumers. People are trading down and shifting more toward value, he said, "and that bodes well for Planet Fitness." Planet Fitness CEO Chris Rondeau said members are exercising more, too: six times a month versus five times a month when Planet Fitness went public in 2015.

☆ Layoffs Aren’t a Good Look for Big Tech’s Growth Story
▼ + stars: | 2022-11-10 | by ( Laura Forman | Justin Lahart | ) www.wsj.com time to read: +1 min

The long list of Big Tech companies laying people off surely says something about the current state of the economy, but it might tell us more about the sector’s prospects: Investors probably need to look elsewhere for growth. Business software company Salesforce also started dismissing some employees this week. Marking one of his first moves since taking the company over, Elon Musk axed about half of Twitter’s workforce last week, while ride-hailing company Lyft , payments company Stripe and iBuyer Opendoor Technologies also just announced major reductions. Those followed a dizzying list of earlier announcements from Netflix, Shopify, Tesla, Snap, Compass, Peloton, Twilio and more. Meanwhile, Amazon.com has said it would freeze corporate hiring for months, and Alphabet ’s Google has asked some employees to apply for new jobs to remain at the company.

☆ Centrica gives ammo to UK windfall tax fans
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +2 min

The chief executive of 5 billion pound Centrica (CNA.L) on Thursday outlined plans for a 250 million pound share repurchase, following in the footsteps of chunky payouts by BP (BP.L) and Shell (SHEL.L). With the UK already windfall taxing North Sea oil profits, the risk for O’Shea is that it emboldens UK Prime Minister Rishi Sunak to hit power generators as well. Nearly half of Centrica’s 25 billion pounds of revenue this year, based on Refinitiv data, will come from British Gas, which sells power to Britons. But a strong performance from Centrica’s electricity and gas production, and from its trading arm, means O’Shea has cause to be generous. Generation provides a much larger chunk of 2.2 billion pound renewable energy group Drax’s (DRX.L) top line.

☆ The tech boom is officially over - and the FTX fiasco will spark a crypto crackdown, ex-Treasury chief Larry Summers says
▼ + stars: | 2022-11-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The tech boom is over, thanks to the pandemic receding and interest rates rising, Larry Summers said. The ex-Treasury chief predicted the FTX fiasco will lead to greater crypto regulation. He warned some of the recent excesses in the tech sector won't return until the next speculative boom, if at all. Investors need to reset their expectations after years of venture capitalists subsidizing companies' user acquisition with zero regard for profits or sustainable growth, he continued. Summers also touched on the financial troubles of Sam Bankman-Fried's FTX and Alameda Research, which have roiled cryptocurrency markets this week.

☆ Former Peloton CEO John Foley Moves From Selling Bikes to Rugs
▼ + stars: | 2022-11-09 | by ( Joseph Pisani | ) www.wsj.com time to read: 1 min

John Foley co-founded Peloton in 2012 and ran the company for a decade before stepping down as CEO in February. Former Peloton Chief Executive John Foley is trading exercise bikes for something closer to the ground: rugs. “It’s a little bit of a career shift,” said Mr. Foley, who left Peloton Interactive Inc. earlier this year. But, the entrepreneur added, he has always loved interior design, ripping out pages from design magazines for mood boards before the days of Pinterest .

☆ Clean-energy deal seals fate for cross-border M&A
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 9 (Reuters Breakingviews) - A strong dollar may tempt U.S. companies to shop abroad, but a deal unveiled on Wednesday will take any remaining steam out of such notions. The war in Ukraine, inflation and other factors already have hit cross-border M&A. Roughly $1 trillion of cross-border deals have been announced this year, a nearly 40% drop from a year earlier, per Refinitiv. Such risks probably help explain why Chart lost $2 billion in market capitalization, despite $250 million a year of promised cost savings. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Peloton’s founders get a deserved do-over
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Nov 9 (Reuters Breakingviews) - Peloton Interactive’s (PTON.O) founders are climbing back up on their bikes. With WeWork founder Adam Neumann also recently scoring funding for a new idea, second chances are in vogue. In that sense, it’s like Peloton’s take on home exercise gear: a fancier version of an existing product, with added convenience. Peloton’s shares cratered after the virtual fitness company was overambitious during the pandemic, but it grew admirably. It pegs the addressable market for rugs at $120 billion by 2030 versus the $4 trillion wellness market Peloton touted in its initial public offering documents.

☆ Stocks making the biggest moves premarket: Tesla, Meta, DR Horton and more
▼ + stars: | 2022-11-09 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Meta Platforms (META) – The Facebook parent's shares rallied 4.3% in premarket trading after the company announced it was laying off 13% of its workforce, or more than 11,000 workers. DR Horton (DHI) – The home builder's stock slid 3.1% in the premarket after it missed top and bottom line estimates for its latest quarter. Walt Disney (DIS) – Walt Disney tumbled 7.4% in the premarket after missing top and bottom line estimates for its latest quarter. Affirm Holdings (AFRM) – Affirm Holdings plunged 12.2% in premarket trading after the buy-now-pay-later firm reported a wider-than-expected quarterly loss. Axon Enterprise (AXON) – Axon rallied 8.5% in premarket trading after the Taser maker reported better-than-expected profit and revenue for the third quarter.

Nov 8 (Reuters) - Peloton Interactive Inc (PTON.O) and rival Echelon Fitness on Tuesday said they had settled all pending litigation between them, more than three years after Peloton sued the Tennessee-based fitness company for patent infringement. Echelon has agreed to stop using Peloton's patented leaderboard technology in on-demand classes, the companies said in a statement. Peloton, known for its exercise bikes with live-streaming and on-demand group workouts, had filed the lawsuit against Echelon Fitness in 2019 alleging it infringed Peloton's patents and sold "cheap, copycat" products. Peloton escalated the dispute in 2021 by filing another lawsuit for allegedly copying its remote-workout technology. Peloton was all the rage among fitness enthusiasts during COVID-19 lockdowns, but with people returning to gyms, the company saw demand for its fitness equipment dwindle.

☆ Why most Americans' jobs aren't at risk of the kind of mass layoffs we saw in the last 2 downturns, despite big cuts at places like Twitter and Meta
▼ + stars: | 2022-11-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

The US unemployment rate rose to 3.7% in October, but it remains near the lowest level in the past 50 years. While the most recent layoffs, for instance, have yet to be reflected in most up-to-date economic data, the US economy is far from shedding jobs. That's because the unemployment rate is expected to tick up during the recession that could be on the horizon. The Fed is projecting the unemployment rate to climb in 2023 from 3.7% to 4.4%, which would lead to roughly 1.5 million Americans losing their jobs. Bank of America is projecting the unemployment rate to reach 5.5% by the end of next year.

☆ What Cramer is watching Monday — midterm election, Apple in China, cloud collapse
▼ + stars: | 2022-11-07 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

What I am looking at Monday, Nov. 7, 2022 U.S. stock futures bounced after breaking multiweek weekly winning streaks. Club holding Apple (AAPL) issues with Covid restrictions slowing down iPhone production in China is supply not demand. Club holding Coterra Energy (CTRA) upgraded by Wolfe Research to peer perform from underperform (hold from sell). Club holding Wells Fargo (WFC) still cheapest and putting worst behind it. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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