What year is it? After global smartphone sales slid for the second straight year in 2019, Samsung is unveiling another line of cellies, and let’s just say they went all 2004 on our asses. The release showcased three variations of the Galaxy Z flip phone, which folds open vertically but is all screen on the inside. This is a change from last year’s Galaxy Fold, which opened like a book… and we all know nobody reads those.
All three new models dubbed the S20 (10 higher from the S10 from last year! 10!), are 5G compatible, a key feature that Samsung is using to advertise, along with a 100x zoom camera. The phones are set to hit the stores on March 6, for the low, low price of between $1k and $1.4k. Just a bit steeper from the $300 price of the Motorola Razr in 2004.
Cloudy with a chance of cashflow SoundCloud has received a $75M investment from Sirius XM, in exchange for a minority stake and two board seats. The influx in cash will be used for product development and to increase the variety of artist services.
Things are trending upward for the ‘Cloud, which was in troubled waters 3 years ago, before receiving a $170M investment from a boutique bank and Singapore investment group. Since then, it hit $127M in sales in 2019 and claims it’s trending toward $200M in revenue for 2020.
“Uugghhh, wow, I didn’t expect this to blow up. Click my SoundCloud link, aha.”
Do the splits Wells Fargo is splitting up… it’s three existing business units into five. Hope it doesn’t rip its pants. The wholesale banking unit will be divided into a commercial bank that provides back-end services for companies, and an investment bank that deals with capital markets.
Its consumer bank will be divided into two units as well, one that focuses on branches and small businesses, and presumably another that just opens up accounts for people when they don’t f*cking want them. Or how about another division just f*cking messes up people’s mortgages and causes their homes to be foreclosed and their families to be kicked out on the streets, huh?! HOW ABOUT THAT?!?!
Not great timing Airbnb racked up quite a bar tab for the first nine months of last year, accumulating a $322M loss through September… which doesn’t sound great, and looks even worse when you compare it to the $200M profit from the same period in 2018. This is definitely not a good look since the company is supposedly gearing up for an IPO in the back half of this year.
The loss was mostly due to an increase in costs, which are only expected to rise going forward as the rent-a-home company spends more on safety issues (such as theft and prostitution).
This decrease could affect the cash haul that Airbnb brings in on new issue day, since it’s profitability was one of the main selling points against unprofitable private, gone public, companies, such as Uber and Lyft. The forecast isn’t looking much rosier in 2020 either, since its business in China is down 80% from the year prior. Thanks a lot, coronavirus.