It's too soon to call a bottom...
... but markers for structural economic change are everywhere
We haven’t even begun to test the bottom… and see the digest for signs of structural economic change in every significant sector. TMT (tech-media-telecom) is moving especially fast.
TODAY IN…
DEEP TECH:
Massive upset: Synopsys tops Softbank’s ARM in intellectual property (IP) licensing revenue for 2019
Microsoft said it will sell minority stakes in facial-recognition companies because they don’t “generally allow for the level of oversight or control that Microsoft exercises over the use of its own technology”
MEDIA & TELECOM:
Another shocker: Verizon was the big spender in FCC's 5G mmWave auction
And surprise: The marketing-services arms of global management-consulting firms hold 4 of the top 5 ad network slots
Turns out private equity killed the newspaper business … See also: The two regulatory steps needed to bring Facebook to heel: weekend twitter thread and Monday morning blog post
HEALTHCARE TECH:
Why the U.S. doesn't have more hospital beds
FINANCE:
Why Q3 estimates promising any meaningful growth are overly optimistic … See also: Anxious investors surge into gold-backed funds
This time, the credit markets will see structural change … See also: More REITs warn they are unable to meet cash calls … And: Nearly a quarter of the world’s bonds trade at negative interest rates:
It looks like GenZ will graduate into the same level of recession that their GenX parents did…
PUBLIC POLICY:
The FCC urged Congress to earmark $2 billion in the Covid19 coronavirus relief package to pay U.S. telecom operators to swap out Huawei and ZTE equipment — twice as much as originally requested
And finally… smart people are rejecting the spin that AI companies are trying to peddle: