Edition 133 of my email newsletter went out last weekend.
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Hi, friends. Welcome to the latest edition of Newley’s Notes.
Here are ten items worth your time this week:
🛒 1) More on Walmart and Flipkart from my colleagues and me Friday: Walmart Takes on Amazon With $15 Billion Bid for Stake in India’s Flipkart [Wall Street Journal] — The story begins:
Walmart Inc.’s battle with Amazon.com Inc. is heading to India.
Walmart is leading a group that will invest about $15 billion for a roughly 75% stake in Flipkart Group, India’s largest e-commerce company, according to people familiar with the matter. Google parent Alphabet Inc. is planning to invest in Flipkart as part of the deal, other people familiar with the situation said.
It would be a big bet by Walmart that India will be a source of growth at a time when Amazon is gaining ground in the country. It is also an effort by Google to keep Amazon from potentially acquiring Flipkart itself.
Watch this space.
😠 2) Highlights From Elon Musk’s Combative Tesla Earnings Call [Wall Street Journal] — Worth a listen. “During the more than one hour call, Mr. Musk cut off two analysts asking about capital-expenditure plans and reservations for the Model 3 sedan, dismissing them as ‘boring, bonehead’ questions and ‘dry,'” my colleague Tim Higgins wrote in an accompanying story. Tesla’s stock fell nearly 6% after the call. I found listening to be interesting insight into Musk’s personality.
❤️ 3) The 5 biggest announcements from Facebook’s F8 developer conference keynote [The Verge] — Facebook: Tinder killer? Among the news from Facebook’s annual developer conference: The social media titan is getting into dating. A new feature “allows people to browse potential matches at inside groups or events you’re interested in attending,” Natt Garun reports.
🌈 4) Tourists flocking to Peru’s newfound ‘Rainbow Mountain.’ [AP] — The latest Andean backpacker must-see, near Pitumarca, Peru: “Stripes of turquoise, lavender and gold blanket what has become known as ‘Rainbow Mountain,” a ridge of multicolored sediments laid down millions of years ago and pushed up as tectonic plates clashed.”
🎵 5) Swan Songs: Music For Your Final Exit [NPR] — I challenge you to listen to this podcast without choking up. NPR’s “All Songs Considered” asked listeners what songs they’d want to have played at their funerals. Morbid? Maybe a little. But also highly moving and inspirational.
🚲 6) The Bike-Share Oversupply in China: Huge Piles of Abandoned and Broken Bicycles [The Atlantic] — Absolutely insane images.
📷 7) Scenes Unseen: The Summer of ’78 [NY Times] — And speaking of striking pics: Last year a New York City conservancy worker found nearly 3,000 unpublished color slides of life in the city’s parks during the summer of 1978. An intriguing photo essay from the NY Times. There’s beer drinking, swimming, double dutch, landscape paining — and so smartphones.
😂 9) Quote of the week:
“I’m sitting at one of the firehouses. No pet raccoons are overdosing here.”
That’s from this story out of KSHB in Kansas City: “Pet raccoon, stoned off of too much weed, brought to Indianapolis firehouse. Confusion ensues.” And yes, there is audio.
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👊 Fist bump from New Delhi,
- Walmart Looks to Scale Back in U.K. and Brazil, With an Eye on India
- Walmart Bets $15 Billion on an E-Commerce Passage to India
- By Me Yesterday: Microsoft, eBay, Tencent Pour $1.4 Billion into India’s Flipkart
- By Me and a Colleague Yesterday: Morgan Stanley Fund Cuts Valuation of its Flipkart Holding
- Google’s Newest India Focus: Connecting Small Businesses