Equity Equity Monday: Intel backs robotics startup, Twitter loses money, and fintech shows signs of life
Jul 17, 2023
Global stocks are feeling the pinch from weak Chinese data, while Twitter struggles with cash flow issues, aiming to pay users for popular tweets. In the crypto world, XRP sees a lift from a recent legal win. Meanwhile, Instagram Threads is rapidly growing, intensifying competition with Twitter, as Meta faces regulatory hurdles in Norway. On the startup front, Intel's investment in robotics shines a light on innovation, and fintech startup Thunes nears unicorn status, capitalizing on current trends in digital payments.
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Global Stock Market Downturn
- Global stock markets are down due to weak Chinese economic data and high youth unemployment.
- Investors are concerned about China's economic growth and potential deflation.
Crypto Market Update
- XRP saw a significant boost last week following Ripple's partial legal victory.
- However, many gains were given back, leaving Bitcoin and Ethereum around $30,000 and $1,900 respectively.
Twitter's Financial Health
- Twitter is cash flow negative due to decreased ad revenue and high debt load, according to Elon Musk.
- Despite this, Musk plans to double payouts to high-visibility users.