Data sheet—big companies have too much political power, hillary clinton says – gas vs electric oven running cost


Playing a sad song. After its unusual listing process, Spotify falls into line with every other public company and joins the quarterly earnings dance. First quarter revenue increased 26% from a year ago to $1.4 billion and the net loss was nearly unchanged at $202 million. Premium subscribers increased 45% to 75 million. It wasn’t enough to meet Wall Street’s expectations and the stock was off 9% in premarket trading on Thursday. Mobile payments provider Square also disappointed, even as its net revenue grew 45% to $669 million. Investors didn’t like the forecast of $750 million of revenue and adjusted EPS of 10 cents for the next quarter and the shares dropped 6% in premarket trading. Finally, wearable maker Fitbit also disappointed with its upcoming quarter forecast and its shares were down 6%.

Exerting influence. Seattle is considering imposing a new 0.7% payroll tax on large employers to fund affordable housing programs and reduce homelessness. The City’s Chamber of Commerce is opposed and Amazon apparently isn’t pleased, either. It put a new 17-story office tower project on hold, citing the upcoming tax vote. Cities bidding for Amazon’s HQ2 take notice.

Boo hoo. The political consulting firm at the center of the Facebook data scandal, Cambridge Analytica, is shutting down and filing for bankruptcy. The company, which obtained personal information about millions of Facebook users, said it “has been the subject of numerous unfounded accusations and, despite the company’s efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising.” Executives from the failing firm along with its financial backers from the Mercer family have already started a new company called Emerdata that could be a “rebranding” effort, the New York Times reported.

To infinity and beyond. Mobile gaming has not been a major part of Nintendo to this point, but incoming president Shuntaro Furukawa says he wants to make smartphone apps more of a priority. He’s aiming to grow Nintendo’s mobile unit into an operation worth 100 billion yen, or almost $1 billion, per year. They’ll have competition from a new Google-backed startup called Arcade, which is focusing on developing trivia and other social games.

How do you like them apples? Sticking to Asian companies focused on mobile, Chinese phone maker Xiaomi filed to go public in Hong Kong and raise up to $10 billion, which would easily rank as the largest initial public offering of the year and third all-time among tech companies, trailing only Alibaba and Facebook. Revenue grew 67% last year to $18 billion and profit excluding one-time charges was $840 million.

Spreading knowledge. Changes to copyright law in 1998 greatly extended the rights of authors and, as a result, few works entered the public domain in the United States for two decades. That changes on January 1, 2019. The Atlantic has the story, with this fantastic lead: “The Great American Novel enters the public domain on January 1, 2019—quite literally. Not the concept, but the book by William Carlos Williams.”