(San Francisco)

Netflix and other streaming content platforms are about to have a very rich and very experienced rival—Apple. The company is ready to spend $1 bn this year on new programing for a new streaming content service, to be launched either through Apple Music or a dedicated platform. The path is the same way Netflix and others (like HBO) have gone down in producing their own content instead of simply streaming that of others. While the total sounds like a lot, it is roughly on par with what Amazon and Netflix spent in their first year of producing their own content.

FINSUM: This is either going to be a big hit, or a big flop, but either way it is going to make waves in the ultra competitive media space.

(San Francisco)

Many people are currently worried about the potential for artificial intelligence to supplant human beings in the work force. Levels of anxiety on the topic seem to have reached almost a state of paranoia (and we think rightly so). However, the Wall Street Journal is arguing that human workers will survive AI just like they did another major technological innovation—spreadsheets. The piece argues that AI, like other technologies, will create jobs alongside the ones it renders obsolete. A new piece of technology like AI creates many more applications for itself than currently exist, replenishing the need for jobs.

FINSUM: There is a lot of doom and gloom out there, and we understand. AI will inevitably create new jobs, but when considers that businesses are constantly on a quest for higher margins, it makes one wonder where salaries would be headed even when new jobs get created.

(San Francisco)

President Trump may have just disclosed an important secret about Apple’s operations. Trump told the Wall Street Journal that Tim Cook promised him Apple would open three manufacturing facilities in the US. Trump did not disclose a timeline or what products would be made here, but the comments seem to run against the corporate culture of usually-secretive Apple. Such a move would be a major change for Apple’s well-developed supply chain, which relies heavily on far east manufacturing.

FINSUM: This would be very good news if it came to pass, and the Wall Street Journal reported that Trump said it. We wonder if Apple will respond…

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