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| 1 | | IBM and Google have invested $150M in quantum-computing research at two universities (Tokyo and Chicago) to tackle complex problems that classic computers cannot. The U.S. and Japan have teamed up to keep ahead of China in quantum computing, a field in which the latter has made significant investments for potential military uses. More: - Within 10 years, IBM intends to invest $100M in constructing a quantum-centric supercomputer with 100,000 qubits.
- Google is giving $50M to university scientists for long-term research and sharing its quantum computer with them.
- The alliance intends to enhance the technology for real-world applications and educate a new generation of quantum specialists.
- In comparison to conventional computers, quantum computers have the potential to be more effective in tackling problems like climate change and simulations at the atomic level.
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What happened: In its most recent presentation to advertisers, Netflix boasted 937,616 U.S. customers for its ad-supported streaming service. It competes with other streaming services, including Hulu, Peacock, Paramount+, and HBO Max, with larger ad-watching subscription bases. Advertisers have welcomed that Netflix has started running advertising since it gives them access to a previously untapped market. Why it matters: Netflix aims to build scale in advertising and reshape the future of streaming with ads. Advertisers can help reach a younger audience and benefit from more choices in terms of ad placement. However, the small subscriber base has caused some ad buyers to need help running ads and targeting specific groups. Video streaming revenue will skyrocket from $80B in 2022 to an estimated $137B in 2027 due to the increased use of video streaming apps. Where to see the impact: Netflix's ad-supported tier offers advertisers a young audience and the opportunity to engage viewers. Its ad prices remain higher than other streaming services, but its password-sharing crackdown and increased content could boost the subscriber base. This could attract more viewers and advertisers to the ad tier. Despite being the highest-priced at $15.49 monthly, Netflix is the most popular streaming platform. | | | |
| A message from our sponsor, WING VC. |  | | Meet the Best Companies in Enterprise Tech: Presenting the 5th Annual ET30 The Enterprise Tech 30, now in its 5th year, identifies the best companies in enterprise tech as chosen by an exclusive group of 96 venture capitalists across 74 firms. It serves as a platform for the tech industry to identify, learn about, and build relationships with today’s most promising private companies. This year’s cohort is unlike any of the previous four. In this report you can expect: - Over two-thirds are new to the ET30.
- Nearly 30 percent of the companies on the list are in the generative AI category.
- Half are in the developer platform and tools category, an increase from years past.
- Many span multiple categories, including security, fintech, and productivity tools.
And, some of the previous year’s winners are seeing tremendous success: Of last year’s ET30 companies, one has been acquired (pending), and 20 have raised follow-on capital of $9.3 billion in total. Of the initial ET30 companies in 2019, the total valuation has increased by $264 billion since the 2019 report publication date. See The List | |
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| 3 | | Bentley Motors reported a 27% increase in operating profits to $232M in the first quarter of the year, with the return on sales rising to 24.4%. This is attributed to increased car customization by wealthy buyers. More: - CEO Adrian Hallmark said, "Over the previous four years, the average price of a Bentley sold has climbed by 40%; most of the increase is related to content upgrades and personalization."
- Customization is becoming increasingly popular, helping supercar manufacturers like Rolls-Royce, Ferrari, Lamborghini, Aston Martin, and McLaren achieve record revenues.
- The Mulliner Edition division of Bentley creates distinctive Bentleys with distinctive features, such as personalized paint colors, metal finishes, and embroidery.
- He also mentioned, "Bentley is not facing a downturn in demand, despite worries about increasing rates, declining inventories, and recessionary fears, as evidenced by its robust order intake and high demand in areas like the U.S."
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| 4 | | Due to shifting business conditions and Bob Iger's appointment as CEO, Disney decided against constructing an employee campus near Lake Nona, Florida, saving 2,000 California-based employees from having to relocate. The company said it still plans to spend $17B in Florida and generate 13,000 jobs over the next 10 years. More: - When Disney announced its relocation plans in July 2021, many employees reacted with dismay, but the opening of the new campus was ultimately postponed to 2026.
- Disney and Florida Gov. Ron DeSantis are engaged in a dispute that has led to the cancellation.
- Disney filed a lawsuit against DeSantis and the new board members of the special district that covers Walt Disney World, charging them with political retaliation.
- The business declined to offer specific updates on its investment, but it has made plans for park renovations, expansions, and the arrival of more cruise ships in Florida.
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| A message from our sponsor, SPIFF. |  | | Let’s face it. Most commission software sucks. If you're battling your way through a tangle of spreadsheets each month trying to keep up with a growing sales team… Or, if you're trying (and failing) to learn some legacy platform that promised efficiency but hasn’t delivered… You're going to want to pay attention. We're putting an end to the long hours, error chasing, and manual tedium. Introducing Spiff Designer, the all new backend model builder revolutionizing how companies manage sales commission. Spiff Designer combines the familiarity of a spreadsheet with the power of automation for the ultimate commission management experience. And, don't just take it from us. Spiff customers have reported: ⏰ Massive time savings 🔍 More visibility for reps ✅ Fewer errors and discrepancies Take a no-pressure, self guided tour of Spiff to see for yourself. Tour Spiff | |
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| 5 | | With Stratolaunch, Virgin Orbit has a "stalking horse" deal to sell mainly aircraft assets, including the "Cosmic Girl" carrier aircraft, for $17M in cash. The bankruptcy publicity drive has increased interest in Virgin Orbit's assets other than the carrier aircraft. More: - Cosmic Girl and LauncherOne, costing an estimated $1B, comprise Virgin Orbit's system for sending small payloads to orbit by releasing a rocket from an aircraft at 35,000 feet.
- Following a failed satellite launch in January, Virgin Orbit experienced finance issues, which led to a Chapter 11 bankruptcy petition filing in April.
- The business, which separated from Virgin Galactic in 2017, uses modified Boeing 747s to launch rockets that put satellites into space.
- Paul Allen, the late billionaire and co-founder of Microsoft Corp., established Stratolaunch, which has tested its aircraft for air-launched rockets to orbit and hypersonic vehicles.
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| 6 | | Alibaba Group Holding Ltd. aims to spin off its $12B cloud business and consider initial public offerings for its logistics and food businesses to boost revenue. The objective is to increase decision-making efficiency and agility and empower various business units. More: - With domestic commerce declining by 3% and the cloud business declining by 2%, Alibaba reported its third consecutive quarter of single-digit revenue growth.
- For the cloud services sector, the company intends to issue stock to shareholders, and it hopes to flog its Cainiao logistics unit within the next 12 to 18 months.
- Within the following year, Alibaba wants to finish the IPO for the Freshippo grocery chain.
- For its sector of foreign commerce, which includes Lazada, the company will look for outside investment.
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Term of the Day Margin trading: Margin trading is the practice of borrowing money from a broker or other financial institution to buy securities. Question of the Week What's the most effective team-building exercise you've ever participated in? Join the conversation |
INSIDE BUSINESS LEADERBOARD (7 DAYS) |
 | Freelance Writer | | Shriram is pursuing Master’s in Business with Marketing at Warwick Business School. He worked as a Senior Consultant in Tech and Political Consultancies before his Masters. He is passionate about Tech, Marketing, Strategy, Anthropology and Politics. He is also the Postgraduate Ambassador for Warwick Business School. | | This newsletter was edited by Aaron Crutchfield | |
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