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BMV IPC
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FTSE 100
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Last Week’s Highlights
Elon Musk made an offer to buy Twitter
Elon Musk wants to buy Twitter for $43 billion and take away all the rules this social network has. The world’s richest person said that Twitter “will not thrive or serve this social imperative in its current form. Twitter needs to transform itself as a private company”. His idea is to transform this social network into a platform with absolute freedom of speech, without the need for certain limits as there are now. According to some experts, this change could destroy Twitter instead of improving it for the better, because users could generate content without any limits or control.
Lucid to launch top-performing EV
Lucid recently announced that it has begun deliveries of the Lucid Air Grand Touring, and will introduce a new version of the Lucid Air, the Lucid Air Grand Touring Performance. With 1,050 horsepower and dual motors, this would be the most powerful electric vehicle currently available in North America. According to CNBC, Lucid’s new Air model outperforms the top-performing Tesla in most aspects. Its starting price will be $179,000 and deliveries to US customers are scheduled for June 2022.
Coming Up This Week
Meta to get a cut of Horizon transactions
Meta Platforms wants to charge about 50% on the sale of digital assets within its emerging metaverse called Horizon World. This virtual reality platform has been an early form of interaction within the metaverse. Mark Zuckerberg assures that these negotiations within the platform will enable the development of commercial activity in the alternate reality. The company will charge up to 47.5% for each transaction, which will include a 30% hardware platform fee through its Meta Quest store and a 17.5% cut on Horizon Worlds. This has generated various types of reactions, as other platforms such as OpenSea only take 2.5% of each NFT transaction.
Competition is hitting Netflix
Netflix shares are down around 43% so far this year. Although the company has had a competitive advantage in the streaming platform market for years, the increase in competition in recent times, and its variety of different content is complicating Netflix. The company’s revenue has been slowing, growing 16% year-on-year to $7.7 billion in the fourth quarter. This growth rate was slower versus 21.5% growth in the same period last year. However, Netflix is putting forward a number of changes to address all of these issues. Lower prices in less developed regions, higher prices in more developed regions, extra charges for sharing accounts, and adding an extra member to its existing plans are some of the changes being considered so that the company can continue to lead in the streaming market.
