1) The Google Monopoly
CNBC International video above published Nov 1, 2018: Google has been fined record-breaking amounts by the European Commission for violating antitrust rules. Is Google a monopoly that needs to be broken up? CNBC’s Elizabeth Schulze explains from Brussels.
See also: The New York Times is digitizing its 5-7M photo archive using Google AI to recognize text describing the photos and will use Google's storage services--cnet.com.
2) Credit Card Chips & Fraud
Fortune.com video above published Nov 5, 2018: Credit card chips fail to end fraud according to a new report.
3) Investing
For the year:
- The NASDAQ Composite is up 503.51 points, or 7.3%.
- The S&P 500 is up 107.40 points, or 4%.
- The DJIA is up 1,270.08 points, or 5.1%.
- Apple, Microsoft, Amazon, Google and Facebook have a combined market capitalization of $3.7 trillion, equal to Germany’s gross domestic product (GDP) last year--Tim Berners-Lee says tech giants may have to be split up--reuters.com.
- China: "Chinese President Xi Jinping and his team did not get the midterm [Blue] wave they were hoping for. The Chinese side may once have had a fantasy that the midterm elections would force President Trump to back down on tariffs but there is little to nothing in the results that would lead Trump to change his approach to prosecuting his trade war with China, and in fact he may see reasons to redouble his efforts."-- Bill Bishop of Sinocism | Axios.com. Trump and Xi will discuss trade issues when the two meet for dinner on the sidelines of the G20 leaders’ summit at the end of November in Buenos Aires, Argentina--reuters.com
- Buffett's Berkshire doubles profit, repurchases $900 million stock in third quarter--reuters.com.
- Move over Netflix: Disney says its new streaming service will be called Disney+ and will launch in the US in late 2019--cnbc.com.
- Goldman Sachs ensnarled in vast 1MDB fraud scandal--NYTimes.com.
- Hilarious How Wall-Street Crybabies Whine about the Fed’s QE Unwind after a Decade of “Wealth Effect”--Their “Everything Bubble” is being pricked “gradually,” and they don’t like it.--WolfStreet.com.
4) ICYMI Tech News:
- Amazon $AMZN is spending billions to win Indian shoppers--bloomberg.com. Also: Amazon plans to split HQ2 evenly between two cities--wsj.com; Amazon.com Inc. said effective Nov 5, it would offer free shipping with no purchase minimum for the first time, this Christmas shopping season--reuters.com.
- Apple $AAPL: India iPhone sales to fall for first time in four years: researcher--reuters.com. Amazon signs a deal with Apple--cnet.com--will start selling its latest devices, except the HomePod, in the US, UK, France, Germany, Italy, Spain, Japan, and India.
- Alibaba $BABA cuts sales forecast on economic uncertainty, trade fears--reuters.com. Alibaba Singles Day Nov 11, a major shopping extravaganza in China--cnbc.com video.
- China's leading self-driving startups are betting on leveraging talent and capital in Silicon Valley--axios.com.
- Tech CEOs Are in Love With Their Principal Doomsayer--The futurist philosopher Yuval Noah Harari thinks Silicon Valley is an engine of dystopian ruin. So why do the digital elite adore him so?--NYTimes.com.
- Crypto: Policing the Wild West of Cryptocurrency--morganlewis.com. See also Bitcoin: New Asset Class or Pyramid Scheme? | cfainstitute.org.
- Personal Tech: a. New MacBook Air threatens both MacBook and MacBook Pro with function keys--appleinsider.com; b. Files by Google: Clean up space on your phone--Google’s Files Go hits 30 million users and is getting a new name--theverge.com.
-- John Poole, Editor, Domain Mondo
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