The Weekly 📰 HUBdate 📰

I blinked, and now it’s April.

Okay, I know it’s been a while.

So much has happened in the last month, I fear this newsletter edition may come off as a little brain dump. But those are still insightful sometimes…right?

There’s just a lot to talk about and so many things are happening constantly.

Which by the way, can be totally overwhelming from a consumer pov as well. Are you prioritising wellness and health? Or did we leave that behind in January…let me know 👇

And about the news we’re about to dive into, there’s really no subtle way to transition with the amount of catching up we’ve got to do. So…. here we go!

Why is the U.S.A’s DOJ Suing Apple?

After a brief hiatus from being the internet's favourite punchline- thanks to those VR goggle snafus- Apple finds itself in a pickle that not even Siri could have predicted.

The tech behemoth is now the star of a legal drama more gripping than any Apple TV+ series, courtesy of the Justice Department and a coalition of 15 states plus Washington, DC.

Allegedly monopolistic practices that could make the ACTUAL game of Monopoly look like child's play.

Just in case they need it^

The 88-page lawsuit reads like a Spotify playlist of Apple's greatest hits- only these tracks are critics' gripes that have been on repeat for years. Top of the charts is the App Store, back under the spotlight for allegedly stifling cloud-streaming apps for video games and blocking the rise of "super apps."

It's a familiar tune, with companies like Epic Games previously taking Apple to court over its hefty 30% commission on app store sales-a fee that's been described as less of a cut and more of a cleave.

The DOJ's mixtape also features hits like "Locked Systems" and "iMessage Blues," accusing Apple of making it unnecessarily difficult for iPhone users to mingle with products outside its ecosystem.

And let's not forget the solo track "Apple Pay or the Highway," highlighting how third-party digital wallets are persona non grata on iPhones.

Apple's response? A classic "It's not me, it's you," citing the need to protect users from malware and fraud as the reason behind its Fort Knox approach to its products and services.

As for what's next, don't hold your breath for a quick resolution.

This legal battle is set to be a marathon, not a sprint, with a verdict years away. In the meantime, the DOJ seems to be collecting lawsuits against Big Tech like they're going out of style, with Apple being the latest addition to its antitrust lawsuit collection- joining the ranks of Amazon, Google, and Meta.

Tesla’s Straight Up Not Having a Good Time

All the big companies really seem to be getting it this month, huh?

Elon Musk's automotive brainchild, Tesla , is navigating through a plot thick with drama, making its Cybertruck saga seem like a quaint backstory.

The electric vehicle (EV) pioneer reported a sales dip that's sending shockwaves stronger than any of its electric motors could. For the first time since the roaring 2020s, Tesla's sales have hit a speed bump, marking an 8.5% decline with 386,810 vehicles delivered in the first quarter of 2024.

This isn't just a pothole on the road; it's a sign that the EV industry's journey might be getting a bit too bumpy for comfort.

Wall Street's crystal balls foresaw a decline, but Tesla's numbers didn't just fall; they plummeted, missing forecasts by about 70,000 vehicles. Analysts had their eyebrows raised when Tesla warned of "notably lower" growth, blaming a mix of new model teething problems and the financial squeeze from high interest rates.

Yet, the reality was a harder pill to swallow than expected.

Warning Lights Ahead:

Tesla's recent stumble is a complex mix of challenges, each adding its own twist to the tale:

⚠️ Production Drama: Tesla's assembly lines have faced everything from alleged arson in Germany to supply chain disruptions at sea. It's been more thrilling than cinema.

⚠️ Aging Lineup: With its cars looking increasingly dated and a budget model not expected until late 2025, Tesla's fleet is moving slower than anticipated in the fast lane of EV innovation.

⚠️ Musk's Controversies: Elon Musk's flair for the dramatic might be cooling off his appeal, with surveys indicating his antics could be deterring potential buyers.

⚠️ BYD's Surge: The Chinese EV maker BYD has momentarily dethroned Tesla in sales, appealing to consumers with newer, more affordable models.

Tesla's situation underscores the EV industry's volatile nature, highlighting a competitive landscape where no lead is secure. With rivals like Rivian and giants like Ford Motor Company and General Motors adjusting their EV strategies amid fluctuating demand, the sector is ripe for surprises.

Tesla's journey ahead promises to be as charged and unpredictable as the market itself.

A Plot Twist Worth Watching

If you thought Reddit's IPO journey was a wild ride before, strap in for the latest update- it's a blockbuster sequel that's outdoing the original.

Reddit's leap into the stock market under the ticker RDDT has been nothing short of cinematic, with shares skyrocketing up to 70% on debut day, briefly valuing the company at a whopping $7.6 billion.

Same.

And despite some Redditors' skepticism and plans to short RDDT, the platform's stock performance has been a spectacle in its own right.

In a bold move, Reddit, Inc.reserved nearly 2 million shares for its core users and moderators, blending community spirit with corporate strategy.

Yet, not all community members are on board, with a notable divide on whether to support or bet against the platform's financial success.

Reddit's $60 million deal with Google for AI data training spotlights its valuable data assets but also draws regulatory eyes, including a probe from the FTC. Meanwhile, a potential patent dispute with Nokia looms on the horizon, adding another layer of complexity to Reddit's public market adventure.

As Reddit charts its course in the public domain, balancing profitability with its unique community ethos, one thing is clear: the Reddit story is far from over.

HUB Weekly Highlights🔦