Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Archive for March 29th, 2019

Bull Run

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The 2019 bull run continues.

The Dow Jones Industrial Average closed 211.22 points higher at 25,928.68 today, and CNBC reports that the S&P 500 has notched its best start to a year since 1998. 

What happened to that inverted bond yield???

Perhaps that’s all just more goodness for the soon-to-be rampant unicorns, including Lyft, whose IPO float today send the stock trading up 8.7 percent to $78.29, with more than 70 million shares trading on its first day as a public company. 

That lifted Lyft’s market valuation to $22.2 billion.

Other unicorns likely to be unleashed into the wild soon? Uber, Slack, Pinterest, among others.

Just remember, Lyft is currently #2 in the ride-hailing pecking order and lost $900 million in 2018.

While we’re on the subject of moolah, let’s talk about TechCrunch’s story about consumer spending on apps.

Sarah Perez’s headline suggests that spending will reach $156 billion across iOS and Google Play by 2023. Yes, you read that right.

That research estimate came from app store intelligence firm Sensor Tower, and suggests that both stores will more than double their revenues over the next five years. That’s +16.8 percent CAGR, if you’re counting along.

Getting further down into the numbers, that’s an estimated $96 billion for Apple and $60 billion for Google, with Apple taking nearly 62 percent of all revenue generated by the two platforms.

To put that in perspective, the global film industry was worth an estimated $136 billion as of 2018.

Time to hone those developer skills, because the bull run appears to continue across the board.

Written by turbotodd

March 29, 2019 at 3:50 pm

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