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Wednesday, 12 February 2020

Andrew Yang has withdrawn from the 2020 presidential race

Photo by Amelia Holowaty Krales / The Verge

Andrew Yang, the tech savvy Democratic presidential candidate who ran on a platform warning against the threats of artificial intelligence and automation, is dropping out of the race. Yang is doing so on the night of the New Hampshire primary, after earning just 1 percent of the delegates in the Iowa Caucuses last week.

A New York native and the son of Taiwanese immigrants, Yang has a storied career spanning corporate law to startups and venture capital and onward to activist organizations, including the Venture for America nonprofit he founded in 2011 that focused on job creation in Midwest cities in the wake of the 2008 financial crisis.

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Sony lets anyone create remote controls for its cameras


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How they compare: Samsung Galaxy S20 vs. iPhone 11 Pro


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Spaceflight Industries to sell its satellite rideshare launch business to Japan’s Mitsui & Co. and Yamasa

Spaceflight Industries, owner of both Spaceflight, Inc. and BlackSky, is selling the Spaceflight, Inc. portion of its business to Japanese industrial megacorporation Mitsui & Co, and Yamasa both of which will co-own the company in a 50/50 joint venture after its closing. The deal will see Spaceflight continue to operate as an independent business based in the U.S. and headquartered in Seattle, with the same mission of providing rideshare launch services for small satellite payloads.

Meanwhile, Spaceflight Industries will use the funds generated from the sale (the terms of the deal were not disclosed) to re-invest in its BlackSky business. BlackSky is an Earth observation company that deals in geospatial intelligence, and that currently operates four satellites in orbit, with eight more planned to join its constellation sometime later this year.

The deal also means that Mistui & Co, which is one of Japan’s largest businesses and which operates in a variety of sectors including infrastructure, energy production, IT, food, consumer products, mining, chemicals and more, will now be in the rocket launch rideshare business as well. Mitsui also has an aerospace arm that includes a space business which provides satellite development, launch and operation services, but noted in a press release that Spaceflight will become “the cornerstone” of its space strategy pending close of the deal.

Spaceflight, Inc. has been offering its services since 2010, and has launched a total of 271 satellites on 29 separate rocket launches, with 10 missions set to take place in 2020 alone. The company’s business seems poised to grow as more launch providers and more small satellite operators enter the market, with many predictions indicating sharp uptakes in orbit-based businesses to come over the next decade.

This arrangement is perhaps indicative of things to come in the space industry, as more young companies look at their overall business and determine how best to delineate things to continue their growth and return funds on investment to stay on mission. SpaceX, for instance, has confirmed it’s looking at spinning out its Starlink business and taking that public, a move that could generate significant funds for it to then funnel back into its core launch business in pursuit of its goals of making humans multi-planetary.

The deal still has to undergo review by the Committee on Foreign Investment in the United States (CFIUS) because there’s a national security interest involved, given Spaceflight’s past work. This is expected to take multiple months, and the companies say they anticipate the deal will close sometime during Q2 2020 if everything is approved.



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At $1,600, the highest-end Galaxy S20 costs as much as a foldable phone

Photo by Vjeran Pavic / The Verge

Remember when Apple unveiled the $1,000 iPhone and everyone was shocked? Less than three years later, a $1,000 phone is at the low end of Samsung’s Galaxy S20 lineup. It’s possible we’re seeing a new high for what a “normal” phone should cost, leaving plenty of room for the highest-end prices to keep climbing.

The Galaxy S20 prices will range from $999.99 for the basic model, with the Ultra starting at $1,399 and going up to $1,599 for the version with 512GB of storage. That puts the Galaxy S20 Ultra, which measures 6.9 inches, in the same price range as the newest foldable phones, which have drawn criticism for their price tags. Samsung’s new Galaxy Z Flip, which arrives February 14th, is priced at $1,380, while Motorola’s Razr is...

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The Galaxy Z Flip’s split-screen mode isn’t just for Samsung foldables, says Google

Samsung’s new Galaxy Z Flip clamshell foldable has a cool new feature that can split the phone’s enormous vertical real estate into a top half and a bottom half, and Google tells The Verge that other phone makers will soon be able to build that feature into their phones, too.

The feature, which Samsung calls “Flex mode,” can split the phone’s display into two four-inch screens that can each show different types of content while you’re using an app. Samsung gives the example of watching a YouTube video on the top half of the screen while searching for other videos or reading comments on the bottom screen. My colleague Dieter Bohn also got to test the mode with a Google Duo video call, which showed a video chat on the top half of the...

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China launches app to identify 'close contact' with coronavirus - CNET

App is designed to let people know if they've been close to someone who has or may have the deadly illness.

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Record inside and outside your car at once with the Vantrue N2 Pro dual dash cam, on sale for $120 - CNET

Great for rideshare drivers and anyone else who needs to capture video of the road and the car's cabin simultaneously, it's available now for $80 off.

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Galaxy Z Flip is the first phone with foldable glass video - CNET

Hands-on with the 6.7-inch foldable screen that stands up by itself.

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Unexplained deep space signal discovered repeating with a peculiar rhythm - CNET

A mysterious fast radio burst on the other side of the cosmos is buzzing Earth with a strange cadence.

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2021 Aston Martin Vantage Roadster will lose its roof in just 7 seconds - Roadshow

The new Vantage Roadster also hopes to right the wrongs of roadsters past with a more rigid body than ever before.

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2021 Aston Martin Vantage Roadster is a hot-rod drop-top - Roadshow

Aston hopes this will be a convertible that will make even the sports purists happy.

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Driver in fatal Tesla crash had reported problems with Autopilot


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Reach out and touch a 4K UHD Dell XPS 13 for just $784 - CNET

Even better than the deal we told you about last week, this 13.3-inch touchscreen laptop has a 4K UHD display and is a CNET favorite, priced now at 45% off.

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2020 Porsche Macan GTS splits the difference - Roadshow

Positioned between the Macan S and Macan Turbo, the GTS offers great performance balance.

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Riot begins leaking details about its competitive shooter 'Project A'


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Here's how the T-Mobile-Sprint merger might actually affect you


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This 'social media' app full of bots constantly complimenting you is intensely bizarre


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The US Fears Huawei Because It Knows How Tempting Backdoors Are

US officials allege that Huawei has backdoors in its technology. The US knows firsthand how powerful those can be.

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Coronavirus Has a Name: The Deadly Disease Is Covid-19

The virus that causes it is SARS-CoV-2. (We didn't say they were *good* names.)

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Profitability expectations ding Lyft despite better-than-expected growth

Hello and welcome back to our regular look at private companies, public markets and the gray space in between.

This afternoon we’re digging into Lyft’s earnings results, unpacking the company’s performance, the market’s expectations and why shares in the American ride-hailing giant are off in after-hours trading.

Lyft’s earnings — following Uber’s own results that promised investors a quicker-than-anticipated path to (adjusted) profits — and the market’s reaction to its performance, provide a good frame for evaluating investors’ appetite for profits against growth. It’s a topic that’s important for startup founders and private-market investors alike.

Our investigation today is contentedly straightforward. We’ll start with the big numbers, drill into comparative performance and then weigh what the market is telling us.

Lyft’s key Q4 2019 results

In the fourth quarter of 2019, Lyft’s revenue came in at $1.017 billion, a gain of 52% compared to its year-ago result of $669.5 million. Sticking to the growth side of things, the company’s “active rider” count rose from 18.59 million to 22.91 million from Q4 2018 to Q4 2019, a gain of 23%. Lyft’s active riders also spent 23% more year-over-year, reaching $44.40 in the final quarter of last year.

Turning to losses, Lyft’s net loss (a metric that includes all costs) was $356.0 million in the quarter, a sharply worse result than its $248.9 million net loss in Q4 2018. The company’s adjusted net loss, however, was $121.4 million, an improvement from its year-ago $238.5 million adjusted net loss.

Turning to adjusted EBITDA, a heavily adjusted profit metric, Lyft lost $130.7 million in Q4 2019, an improvement on its Q4 2018 adjusted EBITDA loss of $251.1 million.

Investors had expected Lyft to report just $985.8 million in revenue and an adjusted EBITDA loss of $163.2 million. The street had also anticipated 100,000 fewer active riders and slightly slimmer revenue per active rider. So, Lyft beat expectations regarding growth, user count and health and for adjusted losses.

And yet Lyft’s shares are off over 4% in after-hours trading. While Lyft’s stock has recovered from lows set in October, 2019, the company’s equity is now more than $20 down from its IPO price, taking into account its post-earnings movement.

Why Lyft’s stock should fall after beating expectations and not changing its profit forecast might appear a bit confusing. It’s not.

Damn you, Uber



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Google Nest forcing users into 2FA

The best way to protect privacy and security is to migrate to a Google account, the search giant says.

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Services Australia 'legal privilege' robo-debt claim refused by Senate committee

As former Labor Leader Bill Shorten says, relying on a computer algorithm was a 'stupid idea'.

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