⏱Goldman Sachs on spring break?
90 Second News Issue #43
Good morning and happy Taco Tuesday🌮 to you all! Only 23 more days until the end of 2020, but who’s counting?
0:04- Uber is its own driver now
Uber ($UBER) announced yesterday that they would be selling ATG, the autonomous driving portion of their company, to competitor Aurora Innovation. This deal, which will officially occur in Q1 2021, will value the self driving portion at more than $4bn, and will involve Uber investing $400m in their competition for a 26% stake. Uber CEO Dara Khosrowshahi, who will join Aurora’s board of investors, was optimistic about the deal, saying that Aurora was now in the “pole position” to bring autonomous driving to the public.
0:25- Tangled up in b̶l̶u̶e̶ green
Yesterday Bob Dylan, a Nobel Prize winner and rock star, announced that he had sold his entire publishing catalog to Universal Music ($UMGP). No specifics about the deal were announced, but given Stevie Nicks’ recent sale of her songwriting for $100m, experts estimate the rights to be worth more than $200m. We think that should provide a hefy nest egg for Dylan, who’s 79.
0:41- Is Miami the new New York?
Goldman Sachs ($GS) has confirmed the fact that they’re looking at leaving their current New York location and taking their talents to South Beach. This move comes as New York real estate is tanking in value, and many companies are evaluating the strategic benefits of new locations (for example, there is no income tax in Florida... plus beaches). Many people in Florida are excited for the move, including the mayor of Miami, Francis Suarez, who’s launching a tweet campaign for it.
1:02- Remember a month ago when Apple released scary fast processors?
Well, it’s about to happen again. Yesterday, it was reported by Bloomberg that Apple ($AAPL) is planning a new series of it’s M1 line of chips that will “significantly outpace” Intel’s ($INTC) fastest chipset. The new line will be featured in upgraded MBPs and iMacs in early 2021, according to people familiar with the news.
1:17- Can you smell what The Rock is drinking?
Well, if you had, “international movie star, Dwayne “The Rock” Johnson sets record for best ever launch of a liquor brand” on your 2020 bingo card, feel free to cross that off. His Teremana Tequila brand is on pace to ship a record breaking 400k 9L cases in his first year. For reference, George Clooney sold his brand for $1bn when he was selling 175k cases a year.
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-The 90 Second News Team
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