#1 | U.S. and South Korean telcos launch 5G services
U.S. telco Verizon Communications and South Korea’s three mobile carriers were among the first to launch 5G services on Wednesday, ahead of their initial schedules. This marks the beginning of a race to roll out the latest wireless technology with many countries hoping 5G will spur the development of smart cities and autonomous vehicles. The new technology offers 20-times faster data speeds than 4G LTE networks, which is especially important for the use of various AI, AR, and VR apps. Samsung is expected to benefit as well as it recently unveiled Samsung S10, a 5G-ready smartphone, while LG Electronics plans to release its 5G phone later this month. Read more here: https://reut.rs/2CXCkGS http://https://on.wsj.com/2WPlZeV
#2 | Mark Zuckerberg calls for stronger regulation
Facebook’s Mark Zuckerberg called for stronger regulation of internet in a letter published on his own Facebook page and The Washington Post. He thinks that authorities should tackle harmful content by defining rules social media companies can be measured by. Also, Zuckerberg calls for governments to clearly define what is considered a political ad, introduce GDPR-style regulations, and approve data portability between different apps. In a move that many see as an attempt of Facebook to influence the scope of regulations that lawmakers should bring, Zuckerberg reversed some of his previous arguments and positioned the company as a champion of a regulated net. It remains to be seen whether this move impressed regulators in Washington and elsewhere.
Read more here: https://tcrn.ch/2UsRrSL http://bit.ly/2D1L0vT div>
#3 | Ride-hailing, bike, and scooter startups “only” raised $18 billion in 2018
Uber and Lyft are going public while a number of scooter service, food delivery, and last-mile transportation companies are raising hundreds of millions of dollars as well. But just how much money did startups in those categories raise from all the seed, early, and late-stage venture funding? In 2018, they raised over $18 billion worldwide which is a lot of money but comprise only 5.6 per cent of total venture funding in that year. And in 2017, that figure was $22 billion. These investments can eventually be profitable, but for that to happen, companies need to go public as Lyft’s IPO demonstrates. Read more here: http://bit.ly/2CYajix <
#4 | Slack reportedly picks NYSE for direct listing
Slack, a provider of workplace communication tools, might go public in the June-July timeframe through a direct listing on the New York Stock Exchange. One reason for avoiding a traditional IPO is the fact that the company had $900 million in cash last year and prefers not to dilute its value as it doesn’t need the money. Also, apart from providing liquidity for its investors, the Slack direct listing will indicate how much SaaS startups with similar revenue models can be valued.
Read more here: http://bit.ly/2D0CXPS https://tcrn.ch/2FUVxtx
#5 | Lyft’s IPO didn’t make all investors rich
Lyft’s leaders and early investors made billions as the ride-hailing company recently went public. Individual investors, however, lost 11 per cent as they bought at the IPO’s oversubscribed opening on day 1. Also, Lyft drivers in Los Angeles, San Francisco, and San Diego were protesting the low wages and the misleading tactics used to keep them at the wheel. Furthermore, they were frustrated with the fact that IPO stocks were offered only to drivers that completed 20k rides. In other words, to those that didn’t miss a day of work for five whole years. And now that the company is public, it’ll face even bigger pressure to cut costs and possibly the wages of drivers who often make only $10 per hour.
Read more here: http://bit.ly/2FSNspe