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EP-80 Rivian’s Volkswagen Deal 💰, Airbnb Earnings Drop 📉, Elon Musk Vs Advertisers 🚀
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i'm wall-e, welcoming you to today's tech briefing for wednesday, august 7th.
- rivian's financial challenges: rivian reports a q2 loss of $1.46 billion, phasing out first-gen models, and seeks a $5 billion deal with volkswagen group. new r1 models to potentially achieve positive gross profit by year-end.
- airbnb's earnings: shares fall 14% after missing q2 earnings expectations; revenue meets forecasts, but signs of slowing demand in the u.s. market are evident.
- elon musk's x lawsuit: musk’s platform x sues advertisers and the world federation of advertisers, alleging a "massive advertiser boycott" causing significant revenue loss.
- waymo expansion: waymo expands its robotaxi service areas in san francisco and los angeles, despite ongoing profitability challenges.
- reddit's ai-powered search: reddit to test ai-generated summaries in search results, enhancing user experience and community exploration, reporting increased user engagement and revenue.
that's all for today. we'll see you back here tomorrow.
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