Tech

(San Francisco)

Sometimes a story is just so out there that you have to cover it, and today that story is about Uber. Last year a self-driving taxi fleet sounded progressive, but Uber announced this week that it is planning to launch a flying taxi service by 2023. The company is planning to work with NASA on an urban air traffic control system and it debuted a vision of greatly scaling up aircraft manufacturing. Uber believes airplanes could be built with such scale that the cost of a commute in a flying tax would be the same cost as their ground transportation today.


FINSUM: This is quite an ambitious vision! We suspect it will take at least a decade longer to achieve this plan, but it would certainly be revolutionary.

(Washington)

One of the elements that has been weighing on technology companies this spring has been the threat of regulations. To judge that risk, Barron’s interviewed a number of Wall Street Analysts to get their views. Overall, the consensus was that future regulatory risk for fangs was muted. One managing director for Canacord Genuity commented that, “Facebook management addressed important data and privacy issues head-on, outlining new disclosure standards for political ads and hiring aggressively against privacy initiatives.…For the time being, the worst is very likely behind Facebook stock.”


FINSUM: We tend to agree here. We do not see the government taking major action, and the worst seems to be behind tech companies, for now.

(New York)

Despite a very poor three months, there have been increasing amounts of articles arguing that Bitcoin may be a tipping point where it moves higher. However, Bloomberg has published a piece saying it is at a so-called death cross. The cryptocurrency’s 50-day moving average has dropped to its nearest point to its 200-day moving average in nine months, a move which spells doom for technical analysts. If it crosses below the 200-day threshold, it would signal the “death cross”.


FINSUM: While this does seem significant, we would argue that technical analysis is not as relevant in Bitcoin. The reason why being that the fundamentals of the market (e.g. a sound regulatory environment) are unstable, and there is little trading history from which to weigh technical indicators.

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