Jun 6, 2019

The only furniture you need

Tokyo. Photo: Carl Court/Getty

If you're decorating an apartment for cheap, you might buy everything — couch, bed, dresser, cupboards, desk — from Ikea.

But, but, but: What if you're in a tiny, tiny apartment, the kind that's increasingly prevalent in huge, packed cities? Well, you might go instead for Ikea's all-in-one couch-bed-dresser-cupboards-desk.

  • In a concept video, Ikea envisions the futuristic unit serving every need for a couple living in a super-cramped space, transforming a studio from bedroom to home office to living room throughout the day.
  • The trick: It moves. The Swedish company worked with an American startup called Ori on the "robotic furniture," which slides from side to side based on what function it's serving.

The unit will start selling in Hong Kong and Japan — where tiny apartments are the norm — in 2020, reports MIT Technology Review.

Watch the thing in action.

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Illustration: Aïda Amer/Axios

U.S. private equity returns fell just below S&P 500 returns for the 10-year period ending last June, according to a report released Monday morning by Bain & Company.

Why it matters: Private equity markets itself as beating public markets over long-term time horizons, and usually providing an illiquidity premium to boot. These new performance figures not only dent such claims, but provide fresh ammunition to critics of public pension investment in private equity funds.

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Photo illustration: Jakub Porzycki/NurPhoto via Getty Images

Apple may finally allow iPhone owners to set email or browsing apps other than Apple's own as their preferred defaults, according to a Bloomberg report from last week.

The big picture: Customers have long clamored for the ability to choose their preferred apps, and now Apple, like other big tech companies, finds itself under increased scrutiny over anything perceived as anticompetitive.