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.

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.

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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.

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.

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.

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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.

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.

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