- GRIT
- Posts
- MOVE OVER Elon Musk
MOVE OVER Elon Musk
BYD, SoftBank, Apple
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/35d3e4b3-151c-4cbb-8c9b-7f10cabfd09b/Grit_logo_b_g.png)
Good Morning!
Welcome back, everyone! We hope you are enjoying the holidays! Let’s see what’s brewing this morning: ☕️
👉 BYD surpasses Tesla as the number-one EV company
👉 Softbank lands massive deal with T-Mobile
👉 Apple challenges watch ban in court
BYD: The New Number One
You might have never heard of China's BYD Company. However, it seems this is about to change. The automaker is on the brink of overtaking Tesla as the new global leader in fully electric vehicle sales, a milestone expected to be achieved in the current quarter.
The transition of the EV sales leadership title also mirrors the competitive landscape between Elon Musk and Wang Chuanfu, the billionaire founder of BYD. In fact, a video recently went viral of Elon Musk laughing at BYD’s cars back in 2011. However, he has recently said that his stance on BYD’s cars has changed.
Due to high interest rates, Musk has expressed concerns about the affordability of his EVs for many consumers. Wang is taking a different stance and going on the offensive. His company boasts a portfolio of several higher-volume models that are considerably more budget-friendly than Tesla's lowest-priced Model 3 sedan available in China.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/0362b420-e7bc-4c74-81ea-780b8f432ecc/maxresdefault__3_.jpg?t=1703682786)
Source: Youtube
This development marks a significant turning point for the EV market, symbolizing China's increasing influence in the worldwide automotive industry.
Over the past few years, they have surpassed the United States, South Korea, and Germany and are now neck and neck with Japan as the world's leading passenger car exporter. Out of the 3.6 million vehicles shipped from China as of October this year, an impressive 1.3 million were electric, highlighting the remarkable progress made by Chinese automakers in the electric vehicle market.
🎯GRIT TAKE: You will never believe who has been invested in… upgrade to VIP to read the full GRIT Take.
SoftBank: Lands Massive Deal
SoftBank Group saw a 5% surge in its shares on Wednesday, spurred by the announcement that the Japanese tech conglomerate is set to acquire shares in T-Mobile with a market value of approximately $7.59 billion, and this acquisition comes at no extra expense. Masayoshi Son's conglomerate revealed late on Tuesday that it had instructed T-Mobile to issue 48.75 million common stock shares to them, in line with conditions stipulated in an agreement that originated from the merger between SoftBank's U.S. telecommunications entity Sprint and T-Mobile.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/80543756-4732-4dfe-a9b3-56e64051ffd9/104660120-GettyImages-827244448.jpg?t=1703683736)
Source: CNBC
This transaction significantly strengthens SoftBank's portfolio of publicly traded assets, effectively doubling its stake in T-Mobile U.S. from the current 3.75% to 7.64%. SoftBank's shares appeared set to achieve their most significant increase in over a month. As you might know, Son is one of the best startup investors. However, he faced a massive loss when WeWork declared bankruptcy. At the time, critics said Son would never recover from the failed WeWork deal.
APPLE: Challenges Ban In Court
Apple is challenging an import ban on its highly popular Apple Watches in court. This ban was instituted following a complaint by Masimo, a company specializing in medical monitoring technology. Masimo alleges that Apple unlawfully hired its employees and appropriated its pulse oximetry technology for integration into the Apple Watch. The U.S. International Trade Commission enacted the import ban in response to this complaint, and the Biden administration opted not to overrule it.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/59ccf067-c5ad-4f4d-9765-a79d356eacbf/hero-image.fill.size_1248x702.v1703627864.jpg?t=1703683341)
Source: Mashable
Consequently, Apple has filed an appeal and submitted an emergency request to the U.S. Court of Appeals for the Federal Circuit, seeking a temporary suspension of the ban. A decision on this matter is expected on January 12.
Headlines You Need To Know: 🎙
Microstrategy’s Bitcoin bet produces over 300% return for investors
Tesla plans to revamp Model Y
U.S. strikes add concerns to a broader conflict in the Middle East
‘The Color Purple’ wins Holiday box-office debut
10Y treasury yield dips as investors weigh 2024 outlook
Crypto hedge funds gear up for ‘token mania’
New York Times sues Microsoft and OpenAi
Shoppers keep spending this holiday season
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
The Square Mafia
In the world of finance, a group of visionary tech entrepreneurs known as the Square Mafia emerged, reshaping how we handle payments and revolutionizing the traditional financial industry. Square's mission was clear: to empower small businesses and make payments accessible worldwide. They introduced the iconic white card reader, allowing anyone with a smartphone to accept credit card payments, a game-changing innovation that disrupted the payment industry.
Square didn't stop at card readers; they expanded their services, offering point-of-sale systems and business loans that enabled small enterprises to thrive. As Square dominated, so did its founders and key players, with Jack Dorsey leading the way, co-founding Twitter and venturing into other groundbreaking projects.
Among the original members of Square, Tristan O'Tierney stood out as a key contributor. After his tenure at Square, he co-founded CRVSH, a mobile commerce platform designed to streamline online and mobile sales processes.
Megan Quinn, another former Square director of products, harnessed her experience to co-found Narvar in 2012. Narvar specializes in enhancing post-purchase experiences for retailers, focusing on services like package tracking and returns management.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/92b006ea-231c-4b50-a48a-95f3acbf57c7/the-square-mafia-Google-Search.png?t=1703680938)
Source: getpin.xyz
Meanwhile, Travis Schrebel, who played a pivotal role in establishing Square's customer support team, co-founded Opendoor in 2014. Opendoor is a real estate technology company that has greatly simplified the home-buying and selling process, disrupting the real estate industry.
Tony Xu co-founded DoorDash, a renowned food delivery service, and Toby Sun founded Lime, a company specializing in electric scooters and bike-sharing services. These former Square employees have carried the innovative ethos of Square into their respective ventures, making significant impacts in their industries and reinforcing the legacy of the Square Mafia's influence on entrepreneurship.
Chart of the Day
📊 Home Ownership Rates By Generation
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/2607beba-bd03-4a08-863a-a838abc30dbc/Image-1__25_.png?t=1703680021)
Source: Survey of Consumer Finances, Bloomberg
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @elonmusk
Have feedback to share? Click HERE. Good or bad, we are always eager to improve our newsletter.
Interested in being featured in our GRIT Newsletters? Click below!
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy, State Disclosure Policy, and Disclaimer Policy
If you have any questions please contact us at [email protected]
Reply