Today might not be as long as yesterday, but I'd drink that coffee just in case.
Illustration: Lazaro Gamio/Axios
There’s no doubt yesterday’s earnings report was bad for Facebook. Not only did the company miss expectations, but it said it expects growth to slow for the next couple of quarters. The question is whether this is a turning point or just a bump in the road for the social giant.
Here's the case for each scenario, as laid out by tech editor Scott Rosenberg and the Axios tech team.
1. This is a big turning point for Facebook:
2. This is just a bump in Facebook's road:
The bottom line: Facebook has managed to leap over hurdle after hurdle and come out a bigger, stronger and more profitable company. (Remember when it missed mobile?) On the other hand, every great market run comes to an end eventually.
Photo: Andrej Sokolow/picture alliance via Getty Images
Qualcomm offered a lot for investors to digest Wednesday.
What's happening, per its announcement:
The bottom line: NXP may be off the table, but Qualcomm still has a lot on its plate.
President Trump's recent fiery tweet to Iran brings back to the forefront two big dangers of conducting diplomacy over Twitter.
Our thought bubble: Trump is unlikely to give up his phone or Twitter, but the use of both presents very real security risks.
As much publicity as there is over how much tech CEOs make, the fact is many are taking home far more than even the giant numbers reported after companies file their annual proxies. That's because their total compensation includes gains or losses when they sell the stock they get via options or stock grants.
The details: My Axios colleague Bob Herman looked at CEO pay in 2017 calculated on actual realized gains (ARG) of CEOs' stock options and awards — shares that were actually exercised and taxed — versus the estimated fair value (EFV) of their stock, the figure most prominently featured in summary compensation tables of SEC filings.
By the numbers:
Portland, a city known for investing in public transit and promoting alternatives to cars, has granted permits to scooter-sharing startups Skip and Bird as part of a 4-month pilot program, Axios' Kia Kokalitcheva reports.
Why it matters: This could be a great test of whether a huge cash pile proves as much an advantage in the scooter wars as it did for Uber in the ride-hailing race. In this case, Bird is the wealthy competitor.
Caveat: After the initial 200 scooters per firm deploy in the first week of Portland's pilot, Bird is allowed up to 680 while Skip only gets up to 450. This may skew the companies' performances and their popularity.
What’s next: San Francisco, which ordered all scooters off the streets in June while it reviews permit applications for its own pilot program, recently said it plans to issue its decision in August. Unlike Portland, San Francisco saw a number of scooter companies rush to roll them out onto the streets before the city could enact regulations.
Check out the lengths to which these crooks had to go to exit the scene of their crime.