Fast Five from the Valley: Edition 52

 In Fast Five from the Valley

Toyota allies with Uber to get autonomous cars on the road

Japanese automaker, Toyota Motor Corp., has expanded its alliance with Uber Technologies Inc. with a $500 million investment into the mobility giant, valuing the ride-hailing giant at $72 billion. As part of the deal, Toyota will manufacture Sienna minivans equipped with Uber’s self-driving technology, while a third (not yet identified) company will operate the fleet. This deal increases Uber’s valuation on paper by 15% and matches the value of shares given to Alphabet Inc.’s Waymo after Uber settled a lawsuit over self-driving cars.

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As an investor, should you bet on Tesla?

Elon Musk has spread uncertainty in recent times through failing to deliver on promised production rates and financial performances, resulting in raising $8 billion in debt and equity over the past three years. As such, Tesla has evoked wide-ranging forecasts for the automaker’s future performance. On one side, reputable money manager Ron Baron thinks that Tesla could be worth $700 billion in a decade. In contrast, JP Morgan is of the opinion that Tesla shares will fall to $195 by the end of this year, translating to a 38% decline. Do you think Tesla can get there and dominate the electric vehicle industry in the future?

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Facebook to bring the internet to 3.8bn people

Facebook is building up Wi-Fi connections, called Express Wi-Fi, which is providing internet services to people living in regions with poor internet connections, such as Tanzania. These Wi-Fi networks are serving a large amount of people with relatively cheap Wi-Fi infrastructure… with of course, free access to Facebook!

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Eventbrite confirms plans to go public with $200 million IPO

Eventbrite, the technology platform that powers numerous events around the globe, recently filed an IPO for $200 million. A lot of speculators are thinking the new funds would be used to recover the company’s recent losses, with a net loss of $38.5 million in 2017, and a $15.6 million loss so far in 2018. It doesn’t help that social platforms such as Facebook have recently complicated this space by integrating ticket purchasing portals onto its platform to Eventbrite. These on-site portals keep users on Facebook and do not allow them to browser other options offered by the ticketing platforms.

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Facial Recognition tech prevents imposter entering the US

A 26-year-old man attempted to enter the US on a fake passport at Washington Dulles Airport and likely may have passed at face value with humans. However, unfortunately for him, the airport had installed biometric face recognition technology 2 days before the arrest, which determined that the unidentified traveler did not match the passport he presented. The imposter was apprehended and returned back to Brazil. Facial recognition uses algorithms to match physical characteristics against photos or videos of faces that are on file from passports, visas, and a multitude of other sources.

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