Winner: Ikea, for buying online gig marketplace TaskRabbit. This makes a lot of sense. Loser: Societies engaging in the gross idolatry of youth. While today's rash of young CEOs are more creative than older peers, they also lack historical context. Winner: Microsoft - the tech company everyone forgot about. Its stock hit an all-time high in September, boosted by savvy cloud computing and LinkedIn investments.
Society treats Apple, Amazon, Facebook, and Google as a universal good. But how do we pay our soldiers, firefighters, and teachers if a firm can ascend to $468 billion in value -- fifth in the world -- without paying any meaningful corporate taxes?
Winner: Walmart, which has taken a page from Amazon's playbook and stepped up its storytelling. Winner: Giphy, the four-year-old GIF search engine with more daily users than Snapchat. Plus everything that happens in an Internet minute.
By popular demand, Scott and Aswath Damodaran discuss topics in cryptocurrency, from why it's impossible to value to why people choose Bitcoin over gold.
For more on Aswath Damodaran: http://pages.stern.nyu.edu/~adamodar/
Loser: Unsustainable internet companies. Pureplays like Wayfair and Blue Apron are getting Amazon-like valuations without a critical component: a business that works.
Loser: The brand-industrial complex. Startup Brandless sells generic household items for $3 each, pointing to a larger shift in consumer behavior.
Loser: The smartphone generation. Three-quarters of American teens own iPhones, and the devices are making them more lonely -- but also less likely to do drugs.
(0:13) “Meal-Kit Maker Blue Apron Goes Public, Demand Underwhelms As Amazon Looms,” Reuters, June 2017. http://reut.rs/2toDqYV
(0:13) “Pioneering Beauty Startup Birchbox Turns Profit After Tough 2016,” Forbes, April 2017. http://bit.ly/2fvh96f
(0:13) Google Finance, August 8, 2017.
(0:25) “New Amazon Data From Wall Street Should Terrify All Retail Stores In The US,” Business Insider, September 2016. http://read.bi/2bX6tG6
(0:30) “How Many Americans Are Amazon Prime Members?” The Motley Fool, April 2017. http://bit.ly/2fuXqmU
(0:30) “Share Of Internet Users In The United States Who Live In A Household With An Amazon Prime Subscription As Of November 2016,” Statista, November 2016. http://bit.ly/2vn3eob
(0:30) “Sixty-Four Percent Of U.S. Households Have Amazon Prime,” Forbes, June 2017. http://bit.ly/2usxrU8
(0:38) Value Investors Club, April 2016.
(0:43) L2 Analysis Of SEMRush Data, June 2017.
(0:47) “AMZN Cash Reserves,” Quandl, June 2017. http://bit.ly/2vIetIY
(0:53) “Burning Cash And Losing Customers, Wayfair Is Running Out Of Options,” Seeking Alpha, May 2017. http://bit.ly/2rqZ5dJ
(1:00) L2 Analysis of iSpotTV Data.
(1:12) L2 Analysis Of SEMRush Data, June 2017.
(1:31) “Blue Apron Significantly Lowers Its Valuation With Slashed IPO Pricing,” techcrunch, June 2017. http://tcrn.ch/2t1AIG0
(1:37) “Blue Apron Is Spending More Than $400 For Every New Customer — And That's Creating A Major Problem For The Company,” Business Insider, August 2017. http://read.bi/2vIHeVL
(1:45) “Form S-1,” Blue Apron Holdings, Inc., June 2017. http://bit.ly/2qGf2No
(1:50) “Blue Apron Vs. HelloFresh: A Look At Multiples And Valuation History,” CB Insights, June 2017. http://bit.ly/2uK03Dl
(1:50) “Blue Apron: 5 Things To Know About The Meal-Kit Delivery Company,” Market Watch, July 2017. http://on.mktw.net/2rtG3VH
(2:51) Cadent Consulting Group, 2016.
(3:42) “Have Smartphones Destroyed a Generation?” The Atlantic, September 2017. http://theatln.tc/2u3JDX6
(3:42) “Millennials Surpass Gen Xers as the Largest Generation in U.S. Labor Force,” Pew Research Center, May 2015. http://pewrsr.ch/1KAFrQ0
(3:54) “2016 Overview Key Findings on Adolescent Drug Use,” Monitoring The Future, January 2017. http://bit.ly/1WumBiz
For economies to thrive, companies need to hand over a quarter of their profits.
But the Four Horsemen - Apple, Amazon, Google, and Facebook -- pay far less than the average US corporate tax rate.
Loser: future generations, who will have to pay off the debt racked up by politicians unwilling to tax the most profitable companies in the world.
(0:20) S&P Global Market Intelligence.
(1:21) “Google’s EU Fine Is a Small Price to Pay for Scale,” The Wall Street Journal, June 2017. http://on.wsj.com/2wakRWL
(1:48) “Case No COMP/M.7217 - Facebook/ WhatsApp,” Office for Publications of the European Union, March 2014. http://bit.ly/2cxoGyC
(2:08) “E.U. Fines Facebook $122 Million Over Disclosures in WhatsApp Deal,” The New York Times, May 2017. http://nyti.ms/2pZh1ex
(2:33) “This Analysis Shows How Viral Fake Election News Stories Outperformed Real News On Facebook,” Buzzfeed, November 2016. http://bzfd.it/2vm5htp