DiDi’s Security Check

Last week, DiDi’s blockbuster IPO was destined to bring the ‘Uber of China’ into a new era. ✨ Unfortunately, China had second plans. 

Shortly after DiDi’s IPO (which raised over $4B), Beijing officials halted signups on DiDi’s ride-sharing app. The government also mandated the app’s removal from international app stores. 

For how long? We still don’t know, but at least as long as it takes for China to conduct DiDi’s “cybersecurity review.” The review comes as China reins in Big Tech conglomerates, especially ones listed on foreign stock exchanges.

As for the investors who decided to buy? They’ll hate to hear that Chinese officials asked DiDi to delay its IPO. Many investors will become bagholders. 😬

$DIDI tanked 19.5% today. 

Boeing Loses Altitude (Again)

If you’re an investor in airlines or airplane manufacturers, this is not the type of headline you want to wake up to. Unfortunately for Boeing and several others, the news is not great. So let’s dig into it. 👇

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AI’s Copyright Crisis Begins

We all knew copyright law would be a key issue at the heart of the artificial intelligence (AI) revolution, but we didn’t know when. Well, the time has come. ⌛

Today, The New York Times filed a lawsuit against Microsoft and OpenAI, accusing them of infringing copyright and abusing the newspaper’s intellectual property. In its court filing, the publisher said it looks to hold the two companies accountable for the “unlawful copying and use of The Times’s uniquely valuable works,” claiming billions in statutory and actual damages.

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Pfizer’s Flop Continues

It’s been a rough ride for pharmaceutical giant Pfizer since the end of the pandemic, and that rollercoaster ride continues today. 🎢

The company last announced earnings in October but needed to update Wall Street on its 2024 forecast. It cited weak demand for its Covid products as the reason for a weaker-than-anticipated revenue and earnings forecast.

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Musk Threatens Tesla’s AI Ambitions

The primary bull case for Tesla is that it’s not an automobile company but a technology one. Part of the reason it’s able to command such a high valuation relative to its peers is because of that technology’s potential business impact way down the line, especially as it introduces newer developments like artificial intelligence (AI).

However, that bull case is facing an unlikely opposition…from Elon Musk himself. 🤦

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