Tesla profits -44% YoY to $1.85B in Q3, even as revenues +9% to $23.35B
Brought to you by:
Top stories today:
- Tesla profits -44% YoY to $1.85B in Q3, even as revenues +9%
- Netflix adds 8.8M subscribers, raises prices
- OpenAI in talks to sell employees’ shares at $86B valuation
- AI Foundation Model Transparency Index released
- Facebook announces broadcast channels
- Israel: Biden asks for restraint, offers $100M in Palestinian aid
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. Tesla profits -44% YoY to $1.85B in Q3, even as revenues +9% to $23.35B
Operating margin continues to fall due to repeated price cuts:
Cyberdruck to start deliveries on Nov. 30
Montage of event invite.
2. Netflix adds 8.8M subscribers (most since Q2 2020), raises prices
4. OpenAI in talks to sell employees’ shares at $86B valuation
$80B-$90B was the range recently reported.
Tender offer hasn't been finalized, terms could change. - Bloomberg
5. AI Foundation Model Transparency Index released by Stanford group
6. Facebook announces broadcast channels, after Meta, Whatsapp
7. Israel: Biden promises support for Israel, offers $100M in Palestinian aid
Biden's speech asks Israel restraint in response to Hamas.
Gaza hospital explosion not caused by Israel: U.S. intelligence.
Jack Lew's confirmation hearing includes grilling about 2015 Iran deal.
UK PM Rishi Sunak lands in Israel.
4.03 new 8-year low for Shekel.
Meta to limit “potentially unwelcome” comments about Israel-Hamas.
Putin sends fighter jets with hypersonic missiles to patrol Black Sea.
100s arrested in pro-Palestinian protest on Capitol Hill.
8. 60/40 strategy +6.7% in 2023, after 2022's -17% was worst year since 1930s
9. Interesting videos, posts, and memes
10. Other headlines
TSMC revenue -11% to $17.3B.
Gas shut down by Discord, 2nd time with co-founder Nikita Bier.
Driverless ride service in Japan to start in 2026: Honda, GM, Cruise JV.
Google to start manufacturing Pixel phones in india.
Nokia to cut up to 14K jobs (16%), profits -69% YoY to €133M in Q3.
Employment Hero raises $167M at $1.37B.
Convoy, Uber for trucks, prepares for sale as it slashes most jobs.
Sidebar is a leadership program that accelerates your career.*
Meet Upway - The #1 Certified E-Bike Expert.*
Tech & law
Beijing takes golden share control in Tencent.
Chinese chip makers’ domestic market share climbs from 36% to 62%.
U.S. electric grid to receive $3.5B investment from federal govt.
Sequoia Capital probed by House about China investments.
Clearview AI, self-scraping AI, wins appeal against UK privacy sanction.
Intellia gets FDA OK for 1st Phase 3 CRISPR trial in U.S.
Ventricle Health, virtual cardiology clinic, raises $8M.
Gero raises $6M extension for AI-based drug development.
Paxlovid to cost $1,390, vs. $530 paid by U.S. govt.
Chan Zuckerberg's $250M NYC biohub to engineer immune cells.
Roche revenue -3% to $15.9B in Q3 as Covid sales fall.
Jim Jordan loses 2nd House speaker vote as defections rise from 20 to 22.
Arrington, Hern, Johnson, McHenry, Emmer potential candidates.
Pro-Trump meme maker sentenced to 7 months for spreading voting falsehoods.
Romney considered ticket with Cruz to rival Trump: book.
Cornel West gets max donation ($3.3M) from GOP donor Harlan Crow.
Military obesity jumps from 10% in 2012 to 22% in 2022.
Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below).
What did you think of today's newsletter?
Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.