What A Week In Tech News
Is it just us, or has this seemed to be an extra crazy week related to tech news? If you’re out of the loop, here’s what you’ve missed…
- Facebook is now Meta, but somewhere along the way, someone missed checking the trademark applications on the new name. Now, the company that did apply for the trademark wants $20M. (Yahoo!)
- Google lost its EU shopping-ads fine appeal to the tune of $2.8B. (WSJ)
- Apple is also taking on the EU. Their case involves the European Commission’s Digital Markets Acts and pertains to the sideloading of apps. It might not work, but using the security angle is a brilliant move. (TechCrunch)
- Zillow‘s AI Zestimate and their confidence in it led Zillow to launch Zillow Offers, a home buying solution part of their home-flipping business. That move led to a massive $304M inventory write-down, a reduction of 25% of its staff, and massive stock price losses. (CNN)
- Elon Musk left it up to a Twitterverse poll to determine if he should sell 10% of his Tesla shares (that move alone caused Tesla’s stock price to fall by 12%), in addition to offering to sell $6B in stock to help solve world hunger. Michael Burry points out that there could be more here than meets the eye. (Markets Insider)
- While Tesla might not be having its best of weeks, Rivian‘s IPO solidifies them as an EV force to be reckoned with. The initial share price of $78 makes it the largest IPO of the year and the sixth-largest ever. (Fortune)
What a crazy week indeed!