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☆ A Chinese automaker has taken over Russian plants abandoned by Volkswagen and Mercedes
▼ + stars: | 2024-10-10 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Chinese automaker Chery is using Russian plants once owned by Western firms, Reuters reported. These factories were abandoned by firms such as Volkswagen and Mercedes after Russia invaded Ukraine. AdvertisementChinese automaker Chery has reportedly started manufacturing vehicles in three Russian plants that once belonged to Western firms, five people familiar with the matter told told Reuters. While Washington has worked to ostracize Moscow from the global economy, Chinese firms have filled the gap. AdvertisementThe pattern especially holds true for Chinese car products.

Persons: —, Mercedes —, Mercedes Organizations: Chery, Reuters, Volkswagen, Mercedes, Service, Washington Locations: Russia, Ukraine, Moscow, Beijing, Western, China

☆ Meta CTO explains why it was important for Mark Zuckerberg to show off $10,000 smart glasses you can't buy
▼ + stars: | 2024-09-26 | by ( Jaures Yip | ) www.businessinsider.com time to read: +6 min

Meta unveiled its Orion AR glasses at the Meta Connect 2024 developer conference. Meta's CTO explained why it was important to show what the investment led to — even if you can't buy the glasses yet. But on Wednesday's Meta Connect 2024 developer conference, the CEO was finally able to unveil what many of those billions had been spent developing: the Orion AR glasses. AdvertisementMeta's Orion AR glasses, which feature displays built into the lenses and an array of sensors. AdvertisementMark Zuckerberg shows off the Orion AR glasses prototype at Meta Connect 2024.

Persons: Meta, —, Mark Zuckerberg's, He's, Zuckerberg, Andrew Bosworth, Stratechery's Ben Thompson, Bosworth, Mark Zuckerberg, Tim Cook, it's, Thompson Organizations: Orion, Meta, Service, Reality Labs, Facebook, Apple, Google, Apple Vision Pro, Meta's

☆ Netflix co-CEO says the app isn't on Apple's Vision Pro because it isn't worth their time yet
▼ + stars: | 2024-01-26 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +2 min

Read previewNetflix co-CEO Greg Peters isn't sold on Apple's Vision Pro yet. "I would say we'll see where things go with Vision Pro." Peters said Netflix concluded that its main audience would not substantially "benefit" from a dedicated app on the Vision Pro. His comments speak to deeper concerns surrounding the Vision Pro, which is set to launch next Friday. AdvertisementPeters acknowledged that there is "always" the chance that the success of the Vision Pro could change Netflix's decision.

Persons: —, Greg Peters isn't, Peters, we're, it's, Ming, Chi Kuo, we've, Mathias Döpfner, Axel Springer Organizations: Service, Apple's, Business, Vision, Netflix, Apple, Meta

☆ This EV battery stock has potential double-digit gains ahead. UBS thinks it could even surge 100%
▼ + stars: | 2023-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Nomura has a price target of 315 yuan — for an upside of nearly 67% from Friday's close. Even after trimming their price target on the buy-rated stock, the analysts have a price target of 266 yuan — just over 40% upside from Friday's close. They have a price target of 284 yuan, or 50% upside from Friday's close. More products coming to market The company already has just over a third of the global EV battery market, with more products on the way, according to Counterpoint Research. Li Auto, which reported record deliveries in October that beat out Tesla , is launching its first purely battery-powered vehicle in December — with a new CATL battery called Qilin.

Persons: That's, Nomura, CATL, FactSet, Peter Richardson, Li Auto, Tesla, — CNBC's Michael Bloom Organizations: Amperex Technology, BMW, Tesla, Union, HSBC, Revenue, VW, Mercedes, Benz, EV, Jefferies, Research, Chery, UBS Locations: Shenzhen, Friday's, EU, Thuringia, Hungary, —, Jiangxi

☆ China's auto workers bear the brunt of price war as fallout widens
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +9 min

Millions of auto workers and suppliers in China are feeling the heat as an electric vehicle price war forces carmakers to shave costs anywhere they can. State-run China Automotive News estimates there are over 100,000 auto suppliers in the country. Suppliers typically negotiate prices once a year, but many have been pressed to lower prices on a quarterly basis in 2023, two senior executives at auto suppliers said. And in June, a group of small suppliers wrote to state-owned Changan Automobile to push back against 10% price reductions. Three months later, he told Reuters that price cuts had been more aggressive in 2023 than in previous years.

Persons: Aly, Mike Chen, Chen, carmakers, Tesla, George Magnus, Elon Musk, Mike Chen's, Li Auto, Liu, Changan Automobile's, Chen Yudong, They've, Zhang Yan, Brenda Goh, Kripa Jayaram, Marius Zaharia, David Clarke Organizations: SAIC Volkswagen, REUTERS, Rights, Shanghai, SAIC, Volkswagen, VW, Oxford University's China, China Passenger Car Association, Tesla, GM, HK, Changan Automobile, Mitsubishi Motors, Toyota, Hyundai, China Automotive, Automobile, EV, Reuters, Thomson Locations: Shanghai, China, China's, Beijing, Shenzhen, Hefei, Chongqing, Chery's, Qingdao

☆ How Bob Iger's big plan to shrink Disney could pay off and how it could backfire, according to industry insiders
▼ + stars: | 2023-08-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." Verizon has reached out to Disney about partnering on a new ESPN streaming service, The Information reported. 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

Persons: Bob Iger, He's, Iger, Wells, Steven Cahall, MoffettNathanson's Michael Nathanson, Iger's, hasn't, Macquarie, Tim Nollen, Doug Shapiro, Shapiro, Disney, It'll, there's, Tim Cook, Eddy, Drew Angerer, Disney's, Penn, Joel Simkins, Stratechery's Ben Thompson, Thompson, — Iger, mused, signups, he's, Kevin Lansberry, I'm, Nollen Organizations: Disney, ABC, FX, Geographic, ESPN, Google, Netflix, Warner Bros, Discovery, Warner Bros . Discovery, Comcast, Marvel, Pixar, Apple, Walt Disney, Turner Broadcasting System, Apple's, Hulu, ESPN Iger, Penn Entertainment, Houlihan, Global Technology Group, LightShed Partners, Verizon, Flagship Locations: Orlando , Florida, Sun

☆ Bob Iger is moving to shrink Disney — here's how industry insiders see his playbook and its potential pitfalls: 'Everything is not OK'
▼ + stars: | 2023-08-18 | by ( Lucia Moses | ) www.businessinsider.com time to read: +11 min

After a run of acquisitions during his first tour as Disney CEO, Bob Iger is looking to shrink the company. He's looking to Disney's IP-driven parks, streaming, and film studios to drive growth. "They are our film studios, our parks business, and streaming, all of which are inextricably linked to our brands and franchises." 2024 will bring some clarity to Disney's streaming business. "The streaming business with ESPN going direct to consumer can generate a lot of subscriptions and hopefully be a positive earnings contributor.

☆ Chinese companies have rushed to fill the gap in Russia left by brands exiting from the Ukraine war
▼ + stars: | 2023-02-25 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

Chinese manufacturers were already popular in Russia before the war, accounting for approximately 40% of the smartphone market in December 2021. Tough times for consumersAlthough Chinese brands are reaping the rewards of the Western embargo, the Russian market is shrinking as its economy slumps. If the war in Ukraine ends, Apple and Samsung will likely rebuild operations in the country — and quickly recapture smartphone sales, Stryjak said. Even then, with the return of international brands, Chinese players could retain their foothold, particularly given how long it could take to rebuild supply chains. “Stating this a bit harshly, but the Russian brands and the Chinese brands are kind of stand-ins for the real players,” said Le at Sino Auto Insights.

☆ The inside story of how Microsoft caught up with Google on AI, and the unlikely executive who made it happen
▼ + stars: | 2023-02-10 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

With OpenAI technology, Microsoft CEO Satya Nadella is challenging Google's online search monopoly. "Who'd have thought, even just a few months ago, that Google would be on their back foot," said Soma Somasegar, a former Microsoft executive. Google was also busy incorporating machine-learning and other AI technology into popular products such as Google Photos, Google Translate, and its search engine. Microsoft's new Bing search engine uses a newer version of GPT-3 to answer complex questions. Microsoft's positive feedback loopThe OpenAI deal laid the foundation for Microsoft to catch Google in the AI race.

☆ Apple and Google have a symbiotic deal: ChatGPT will pressure the former to evaluate this relationship
▼ + stars: | 2023-02-10 | by ( Thomas Maxwell | Alistair Barr | ) www.businessinsider.com time to read: +6 min

Google has long benefited from a costly deal to be the default search engine on Apple devices. On top of the Apple deal, Google controls Android and Chrome, with roughly 71% and 65% of the smartphone and browser markets, respectively. Based on its understanding of Google's deal with Apple, Bernstein believes that a 3-year default search deal is coming up for renewal later this year. It's unclear whether Apple would want to change the default search engine to Bing, but it's always had a contentious relationship with Google. Apple's services business, which includes the search deal, was a bright spot in the company's most recent earnings report.

☆ Disney and other Hollywood giants spent billions chasing Netflix. But their strategy appears to have a major flaw.
▼ + stars: | 2023-02-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +7 min

Media companies are trying to get to streaming profitability but their underlying businesses are in worse shape than previously thought. The remedy is to cut content spending, which throws the whole business model out the window. After cheering on Hollywood players for massively spending on streaming content, Wall Street is looking less impressed. Bottom line is, the media business isn't as good as it used to be." But another warning sign for these companies is that in streaming, content may not be as valuable as once thought.

☆ The world's biggest chipmaker is making a multi-billion dollar investment in the US even though it'll cost way more to make chips there. Here's why it decided to do it anyway.
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

Taiwan-based TSMC, the world's biggest chipmaker, announced a $40 billion investment in Arizona last week. That's despite TSMC's founder previously calling US chip production an "expensive exercise in futility." In the event China — which claims the island as its own — invades the island and chip production screeches to a halt, there could be trillions of dollars in economic losses. First, the cost of chip production in the US might not ultimately be "50% more expensive." The factories will be partially subsidized by the US government through the CHIPS and Science Act, a package passed in August that provided $52 billion to boost US semiconductor chip production.

☆ Coinbase CEO slams Sam Bankman-Fried: 'This guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?'
▼ + stars: | 2022-12-08 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +4 min

The CEO of Coinbase said that it's "bizarre" Sam Bankman-Fried is "getting treated with kid gloves." "I mean, this guy just committed a $10 billion fraud, and why is he getting treated with kid gloves?" "We appreciate that you've been candid in your discussions about what happened at #FTX," Waters tweeted. Criminal Activity!," Waters tweeted. He's not the only crypto CEO who's criticized the former FTX CEO recently.

☆ Apple could sink Elon Musk's Twitter by yanking it from the App Store. But it would put Apple in jeopardy too.
▼ + stars: | 2022-11-30 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +6 min

Elon Musk is claiming that Apple threatened to remove Twitter from its App Store. While Apple could find a reason to take Twitter off the App Store, it likely will not, experts said. Experts say Apple could find a reason to take Twitter off the App Store, and doing so would devastate the company. That could be a basis for Apple to remove Twitter from the App Store, Carolina Milanesi, an analyst with Creative Strategies said. Even then, Apple still likely won't remove Twitter from its App Store, because picking a fight with Elon would exacerbate antitrust criticism of Apple.

☆ Mark Zuckerberg defended the $1,500 price tag for Meta's new VR headset as 'break-even', adding that Apple charges 'as much as it can' for hardware
▼ + stars: | 2022-10-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Mark Zuckerberg said Apple charges "as much as it can" for hardware in an interview with Stratechery's Ben Thompson. He's said his VR headsets are priced at the break-even point, or even a loss, for Meta. Zuckerberg has been in "deep, philosophical competition" with Apple since he announced his bid for the metaverse last year. "It's typically people build hardware and they try to make a profit off of it, where if you're Apple, you build hardware and you charge as much as you can for it," Zuckerberg said. Zuckerberg said that's Meta's newest VR headset, Quest Pro, is priced at just $1,500.

☆ Mark Zuckerberg believes we could have hologram meetings in the next 5 years
▼ + stars: | 2022-10-12 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +2 min

Meta CEO said hologram meetings might be a reality in 5 years in an interview with Stratechery's Ben Thompson. Zuckerberg said he wants to build more interactive experiences in the metaverse. Zuckerberg hopes these experiences will foster human connection in the workplace. In the interview, Zuckerberg said meetings "are human connection" and will become important in virtual and augmented reality. Ultimately, Zuckerberg said that human connection sits at the core of what he's been building for the past several years.

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