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Xbox coming to the PS5 and Nintendo Switch

Plus: New dating app coming in the market

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Cash Nut
February 13, 2024

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🚀Startups Nuts

  • Nasdaq Private Market, a provider of liquidity solutions to private companies, raised $62.4 million

  • Xensam, an asset management provider, raised $40 million

  • Owner.com, a platform for independent restaurant owners, raised $33 million

  • Bolt buys back shares at $300M valuation, after raising at $11B in 2021

Other News

A new dating app from financial company Neon Money Club for people with credit scores above 675. The app, which will only be live for ~90 days, runs a soft credit check before letting you match with other financially responsible singles.

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🏭Business Nuts 

Microsoft’s cloud is growing significantly faster than Amazon Web Services of late, thanks in part to its cozy OpenAI relationship. Analysts estimate Azure, which was about half as big as AWS five years ago, is now three-quarters its size. Revenue at Azure increased 30% in the quarter, compared with 13% year-over-year growth at AWS.

Other News

  • JetBlue resets with new CEO. Incoming CEO Joanna Geraghty will have to address JetBlue’s reliability and cost-control problems. Incoming CEO Joanna Geraghty will have to address JetBlue’s reliability and cost-control problems. A federal judge blocked JetBlue’s plan to buy Spirit Airlines for $3.8 billion last month, forcing both carriers to plan for a future on their own.

  • General Motors’ new Chevy Equinox EV is just about ready and will start at ~$35k with 319 miles of range. The car will be eligible for the $7.5k federal EV tax credit, available to qualifying customers

  • Two major oil producers in Texas — Diamondback Energy and Endeavor Energy Resources — are merging in a $26B deal, the latest of several energy company consolidations.

📱Tech Nuts

  • Xbox exclusives are coming to the PS5 and Nintendo Switch. The first two games set to appear on rival consoles are Hi-Fi Rush and Pentiment, with Sea of Thieves set to launch later this year. The move is a seismic shift in strategy - while it will give Microsoft more reach, it comes with plenty of risks. Microsoft plans to continue its Xbox hardware efforts, but its vision for the platform is unclear.

  • Apple Vision Pro was available when the device launched on February 2 and more than 600 apps were available. Developers are complaining that weak discovery and search functionalities in the App Store are dampening the potential success of their apps. The top paid news app receives over 300 installs a day, which is great for a headset that just launched. Promoting apps on social media appears to give transient success, but this might not be enough for consistent gains over the long run.

  • VR market size is growing fast but still relatively small. Retention is just OK - the technology is stickiest for use cases that most people might not understand. There is real money to be made in the space. One effective strategy seems to be using VR to create an experience that creates a lot of buzz and then add cross-platform capabilities, allowing apps to reach a much larger audience. The competition between the Apple Vision Pro and Meta Quest platforms will benefit developers and create more experimentation within the ecosystem.

  • OpenAI and 1X Robotics Autonomous Robots Will Change the World. The EVE robot is unique because it can charge itself, which means it doesn’t need humans to keep it powered.

  • Brilliant Labs has even bundled search engine features into the glasses, thanks to Perplexity’s AI-powered search engine.

  • The White House is developing a cryptographic verification system for President Joe Biden's videos to combat the rise of AI-generated deepfakes.

  • Microsoft introduced "Automatic Super Resolution" in Windows 11, an AI-assisted feature designed to upscale video and image quality in games.

🎁Miscellaneous

Creativity can't be saved for later - it has to be discharged regularly or it will spoil. Being fully engaged at work is how you best plant the seeds for your own adventures. Those who constantly use up their creativity grow their intellectual granary many times over than those who keep holding back. People who turn boring problems into interesting pursuits always end up ahead in creativity and competence.

💡What else are we reading and seeing?

  • How an unremarkable deal became a big threat to a small investment bank

  • The new dating app only for people with good credit scores

  • Private Equity Returns Plunge to Global Financial Crisis Levels

  • Bitcoin jumps to $50k for the first time in two years

  • New hedge funds struggle while established players raise fees to record highs

  • Stalled IPO Market Leaves Startup Employees, Individuals Eager to Unload Shares

  • Elon Musk isn’t the only billionaire fighting Delaware’s grip on U.S. businesses

  • The best Super Bowl commercials for 2024

  • How to spend your money to maximize happiness

😎Fun Fact

The term "billionaire" was first coined in 1916 to describe John D. Rockefeller's wealth

🐦Joke of the Day

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