AppleMagazine #475


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United States
Ivan Castilho de Almeida
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california providing $500m in virus aid for small businesses

California will provide temporary tax relief and $500 million in aid to small businesses struggling because of coronavirus outbreak restrictions, Gov. Gavin Newsom announced this week. The tax measures include a three-month automatic extension of the income tax payment deadline for those paying less than $1 million in sales tax and expansion of a program allowing businesses with up to $5 million in sales to reach agreements on interest-free tax payments. Interest-free payment options also will be expanded for larger businesses, Newsom said. The additional $500 million in relief funds will be available to small businesses and nonprofits in the form of grants up to $25,000. “California’s small businesses embody the best of the California Dream and we can’t let this pandemic take that away,” Newsom said in a statement. “By providing potentially billions…

black friday sees record online as us shoppers stay home

Black Friday online sales hit a new record this year as pandemic-wary Americans filled virtual carts instead of real ones. Consumers spent an estimated $9 billion on U.S. retail websites on Black Friday, according to Adobe Analytics, which tracks online shopping. That was a 22% increase over the previous record of $7.4 billion set in 2019. Meanwhile, traffic to physical stores plummeted as retailers tried to prevent crowds by cutting their hours and limiting doorbuster deals. U.S. store visits dropped by 52% on Black Friday, according to Sensormatic Solutions, a retail tracker. Traffic was slower in the Northeast and West than in the Midwest and South, said Brian Field, Sensormatic’s senior director of global retail consulting. Jewelry and footwear saw some of the biggest in-person sales declines, according to RetailNext, a shopping tracker.…

airbnb hopes to raise up to $2.6b in mid-december ipo

Airbnb hopes to raise as much as $2.6 billion in its initial public stock offering this month, betting investors will see its home-sharing model as the future of travel. In a filing with securities regulators Tuesday, the San Francisco company said it expects to offer 51.9 million common shares priced between $44 and $50 each. The company is expected to debut on the Nasdaq stock exchange on Dec. 10, trading under the symbol “ABNB.” Including stock options, restricted stock units and other classes of securities, Airbnb will have approximately 696 million shares. That would value the company at nearly $35 billion at the high end of its offering price, or $31 billion at the low end. It’s a remarkable comeback for the company that delayed its IPO when the coronavirus pandemic crippled global travel…

salesforce to buy work chat service slack for $27.7 billion

Business software pioneer is buying work-chatting service Slack for $27.7 billion in a deal aimed at giving the two companies a better shot at competing against longtime industry powerhouse Microsoft. The acquisition announced Tuesday is by far the largest in the 21-year history of Salesforce. The San Francisco company was one of the first to begin selling software as a subscription service that could be used on any internet-connected device instead of the more cumbersome process of installing the programs on individual computers. Salesforce’s flamboyant founder and CEO Marc Benioff hailed the “cloud computing” concept as the wave of the future to much derision initially. But software as a service has become an industry standard that has turned into a gold mine for longtime software makers. Microsoft for one has developed its…

powerful m1: benchmarks reveal incredible power of new chip

Though it was always Apple’s intention to create leaner, faster machines when it transitioned to its own custom chip, even Craig Federighi revealed he was shocked when benchmarks were revealed. M1 takes the Mac in a whole new direction, revolutionizing computing once again. SUPERPOWER COMPUTING It’s not an overstatement to suggest that M1 has changed the computing game. For years, it has been iPhones and Apple Watches that have pushed boundaries in terms of performance and specifications, and though the iPhone 12 and Apple Watch Series 6 are industry-leading in their own rights, the truth is that innovation has slowed greatly. And one area where Apple has rested on its laurels, releasing half-baked year-over-year updates to devices with very few changes along the way, is its Mac family. When Apple announced back…

doordash looking for a valuation of nearly $30b

DoorDash is looking for a valuation of nearly $30 billion when it takes itself public, reflecting how integral food delivery has become in millions of people’s lives during the pandemic. The company is planning to raise up to approximately $2.8 billion from an initial public offering of 33 million shares. The offering is expected to be priced between $75 and $85 per share, according to a regulatory filing this week. DoorDash has experienced explosive growth this year. Last year, the company generated $885 million in revenue. During the first nine months of 2020 revenue more than doubled that to $1.9 billion. It was already growing before the pandemic. In 2018 it brought in $291 million in revenue. But DoorDash has lost money each year since its founding and the company has warned potential investors…