Snap Shares Plunge and Tesla Layoffs Loom | Bloomberg Technology

Snap Shares Plunge and Tesla Layoffs Loom | Bloomberg Technology


  • Snap's stock fell due to disappointing earnings and a challenging operating environment.
  • Jasmine Enberg, an Insider Intelligence analyst, discussed Snap's lack of scale compared to rivals, its challenges in rebounding systems, and its repositioning as an anti-social media platform.
  • The conflict in the Middle East impacted Snap's ad business, but it also reflects the company's larger long-standing challenges.


  • Uber reported strong bookings and food delivery during the holiday period, but the stock is down due to concerns about maintaining growth.
  • Uber's delivery business grew by 17% year-on-year and is accelerating.
  • The company is focused on providing customers with choice, reliability, and affordability.
  • Uber's grocery business is growing rapidly and is expected to surpass the online food business in terms of total size.
  • Uber is seeing growth in mobility across the globe, with Latin America and Asia Pacific being standout regions.
  • The company is excited about the potential of the India market, where it is seeing substantial growth rates.
  • Uber's freight business is cyclical and is currently experiencing stabilization in the overall freight industry.
  • Uber is focused on developing new products and services that address specific problems and provide a unique user experience.
  • Uber is continuing to push for the adoption of electric vehicles (EEEVs) despite reports of falling consumer demand and challenges with charging infrastructure.
  • Uber has over 120,000 drivers using EEEVs globally and has completed more than 300 million trips in EVs.
  • Uber is shutting down its standalone alcohol delivery business, Uber Eats, and will instead focus on integrating alcohol delivery within the Uber Eats platform.


  • Tesla staff are bracing for potential job cuts as managers are asked to assess the criticality of each employee's role during performance reviews.
  • Tesla has so far avoided the layoffs that have affected other tech companies, but it is unclear if the performance reviews indicate widespread layoffs or a focus on cost savings.
  • Tesla is still aggressively hiring in certain areas like Dojo, Mega Pack, and Payment Systems, while considering headcount reduction in other departments.
  • Tesla regularly conducts performance reviews every six months, known as "rank and yank," to maintain high performance standards.
  • Tesla's energy business, particularly the production of Mega Packs at the Lathrop factory, is a significant growth driver for the company.

Media and Streaming

  • Advertisers may be hesitant to associate their brands with Tucker Carlson's interview with Russian President Vladimir Putin on Ask due to Putin's history of suppressing critical journalism.
  • Ask's new shows featuring controversial hosts like Tucker Carlson may not immediately attract advertisers, as many brands have already left the platform.
  • Blue Sky, Jack Dorsey's decentralized social media platform, has emerged as an alternative to Twitter and is gaining traction among users who feel uncomfortable using Twitter.
  • Despite the rise of alternatives like Blue Sky, Twitter remains a strong platform for certain types of news, especially sports-related information.
  • ESPN, Fox, and Warner Bros. Discovery are collaborating to launch a sports-focused streaming service, giving them control over content distribution as more people cut the cord.
  • Disney will continue with its own ESPN offering despite the potential for cannibalization, while Nelson's white paper suggests ESPN should be sold off or partnered with Netflix.
  • The move by the big media companies is seen as a defensive strategy to ensure they remain competitive in the bidding for sports rights, which are expected to increase significantly in the future.

Other Companies

  • TSMC, the world's largest chip contract manufacturer, saw an 8% increase in revenue in January due to strong demand for AI chips.
  • The head of ByteDance's China operations is stepping down, and the company will not appoint a successor, indicating a shift in focus.
  • Alibaba reported lower-than-expected sales due to a weaker e-commerce business but approved a $25 billion increase in its share purchase program to boost investor confidence.
  • Tendril, a company that aggregates and analyzes data from streetlights, is showing promising performance with a 2% increase in stock price and a 6.2% gain at one point during the session.
  • Kindred Consulting business grew by 14% for the year.

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