Instagram Will Overtake Twitter as News Source; EU Opens Antitrust Probes on Apple’s App Store & Apple Pay; Tesla Increases Range on Model S Long Range Plus; DocuSign Bumps United from Nasdaq 100Posted: June 16, 2020
Although it has become scary what is considered a ‘news source’ these days, the 2020 Reuters Institute Digital News report finds that the use of Instagram for news has doubled since 2018. Now, according to the BBC, Instagram is poised to overtake Twitter as a news source. (It should be pointed out that only 26% of people actually trust social media as a source of information about the likes of the coronavirus.) National governments and news organizations, on the other hand, were both considered trusted by 59% of respondents to the survey by the report. Still, almost aa quarter of 18-24 year olds in the UK have used Instagram as a source of news about the coronavirus. The Facebook-owned platform and its big brother Facebook now reach 85% of people weekly.
Ever vigilant, as the present US administration ruthlessly cuts regulation, the European Commission is opening two antitrust investigations into the App Store and Apple Pay practices. Theverge.com reports that the first investigation will look into whether Apple has broken EU competition rules with its App Store policies, after complaints by Spotify and Rakuten over Apple’s 30% cut on subscriptions. the 2nd investigation revolves around Apple Pay, and Apple’s limiting access to its NFC (Near Field Communications), which cuts out competing financial service providers that can’t offer NFC payments through their own apps. German lawmakers already voted several months ago to make Apple give access to iPhone and Apple Watch NFC chips.
We have previously reported that Tesla had cut prices, including on the model S. Now, Elon Musk says the range of the top Model S Long Range Plus is 400 miles. The actual EPA test came in at 392, but Tesla says a door was left open and key in the car, so the car went into waiting mode, and lost 2% of its range waiting. The EPA disputes this. Apparently, another test will be scheduled. CNBC says Tesla has boosted range by using lighter weight materials in the battery pack and drive units, and by using other lighter weight components. The company also announced a ‘hill hold’ or HOLD feature, which allows drivers to remain stopped on a hill without having to keep the brake pressed down. (NOTE: Studebaker had this feature in the 1950’s, so it’s not exactly a breakthrough, Elon.)
DocuSign jumped 7% yesterday, after the announcement that the company will join the Nasdaq 100, bumping United Airlines. According to geekwire.com, Nasdaq 100 has been described as “one of the world’s preeminent large-cap growth indexes.” Microsoft, Amazon, Facebook, Expedia, Starbucks, Adobe, Workday and Zoom Video Communications also are on the Nasdaq 100. The stock has more than doubled this year, with all the extra demand from the shelter in place. Last quarter, DocuSign revenue was $297 million, up 39% over the prior year.