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Top stories today:
- Reddit's EBITDA -$69M in 2023, -7% margin on $800M revenue
- Palantir's net income at $93M (15% margin), stock +17%
- Ad revenue in Big Tech sees strong Q4, after weak Q4 2022
- OnlyFake makes fake AI-generated IDs for $15
- Starship Robot raises $90M for last-mile robots
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Reddit's EBITDA -$69M in 2023, -7% margin on $800M revenue
Valuation of $5B+ still likely.
2. Palantir's revenue +20% to $608M, net income at $93M (15% margin), stock +17%
U.S. commercial revenue +70% YoY to $131M in Q4.
Stock now eligible to join S&P500, after 4 consecutive quarters of profits.
For a limited time, Vanta, the leading trust management platform, is offering a free risk assessment. Generate a gap assessment of your security posture, uncover shadow IT, and understand the key actions you can take based on industry best practices to de-risk your organization.
*Sponsored.
3. Ad revenue in Big Tech sees strong Q4 in 2023, after weak Q4 in 2022
4. OnlyFake underground website makes fake AI-generated IDs for $15, highlighting need for better KYC systems
Our view: KYC systems must integrate with governmentsā APIs to connect physical IDs to official databases.
A verification code or a QR code leading the KYC checker to a government website confirming the document are potential solutions, already adopted in countries like the UK.
5. Starship Robot raises $90M for last-mile robots
$230M in total raised money.
6M deliveries made in 80 locations in U.S. and Europe.
Amazon made 333x more Prime deliveries in 2023, 2B.
Partners: Bolt, Co-Op, Grubhub, others.
6. San Francisco 49er's condensed formation may have made them the #1 team
7. Interesting videos, posts, and memes
8. Other headlines
AI
Roblox launches AI-based real-time translation for multiplayer game.
Semafor working with Microsoft on AI to help aggregate stories.
MindStudio: start building AI apps in a single afternoon.*
*Sponsored.
Tech
Snap to lay off 10%, eliminating 500 employees.
Nintendo's revenue -6% to $4.0B, profits +18% to $0.9B.
Vision Pro's YouTube app āon the roadmap,ā but no specific dates.
Forgetting password may require visit to Apple Store.
Amazon partners with Reach for customer data before Google kills cookies.
Valentine Day's tech gifts guide.
Sign up for Underdog Fantasy, the easiest place to play Fantasy Sports!*
BetterHelp: professional online therapy to help you win at work.*
Masterworks: invest in shares of paintings by Banksy and Picasso.*
*Sponsored.
Tech & law
Biotech
Novo Nordisk buys Catalent for $16.5B to increase Wegovy production.
Fractyl raises $110M IPO, announces GLP-1 gene therapy candidate.
Karl Pfleger interview on longevity, investments.
Wealth correlates to life expectancy: study.
Business
China stocks +3.5% as rumors of potential stimulus mount.
Boeing's largest union to demand 40% raise over 3-4 years.
Sequoia Capital's evergreen fund now manages $17.8B.
NYCB's dividend slash led by pressure from watchdog OCC.
College financial aid applications -57% YoY due to glitches.
Crypto
U.S. politics
$118B Senate bipartisan bill may not pass on Wed.
Biden threatens to veto House GOP's $18B Israel-only bill.
Trump's federal election trial could extend into 2024: Judge Chutkan.
Trump wants to debate Biden āimmediately.ā
Nikki Haley requests Secret Service protection after threats.
World
King Charles treated for undisclosed cancer discovered during surgery.
Tucker Carlson's car seen leaving Kremlin, fueling Putin interview rumors.
Iran-allied milita kills 6 soldiers of U.S.-allied milita in Syria.
2 Houthi sea drones struck by U.S. forces.
Blinken on 5th Middle East trip since Oct. 7.
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