Another Amazon probe coming right up!
Plus, Apple is serious about entertainment & Tesla will likely accept bitcoin again
Why this matters: This is the Australian Competition and Consumer Commission we’re talking about - AKA the creators of the world's toughest content licensing rules that Facebook (FB) and Alphabet’s (GOOG) Google had to submit to. The ACCC wants to examine the relationships between large online markets and third-party sellers and shoppers which includes competition impacts and handling of data, complaints, and reviews. (Yahoo Finance)
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Apple is serious about entertainment
A little birdy told the Wall Street Journal that Apple (AAPL) told real-estate developers it wants to lease a large production campus in Los Angeles for its growing entertainment operations.
Why this matters: As big as they are in the smartphone industry, Apple is just one of many players fighting for subscribers among streaming services. Since launching in November 2019, Apple TV+ has streamed a handful of well-known shows and movies but it remains a relatively small operation compared with rivals like Netflix (NFLX) or Amazon (AMZN). I mean, Amazon is about to buy a whole movie studio. Pulling in subscribers means big-budget movies and getting a place to make those budget movies & shows matters. (WSJ)
Tesla will likely accept bitcoin again
Tesla (TSLA) CEO, Elon Musk, said the company will likely start accepting bitcoin again for vehicle purchases.
Why this matters: Earlier in the year, the company stopped accepting bitcoin for car purchases due to questions surrounding its environmental impact. Some Tesla investors & environmentalists have been very critical about the way bitcoin is "mined”, which uses large amounts of electricity generated with fossil fuels. Musk noted that bitcoin is shifting more toward renewables & sees a trend of renewable energy usage at or above 50%. (Yahoo Finance)
That’s it from us.
See you tomorrow.