One of Tesla's Biggest Bears Tells Us Why His Price Target Is $170; With Its $1 Billion Investment in Lyft, Google Throws Shade at Uber

One of Tesla's Biggest Bears Tells Us Why His Price Target Is $170

Cowen and Co.'s Jeffrey Osborne sees Tesla shares losing half their value for a few reasons: the Model 3's "production hell," intensifying competition, and Tesla's capital needs. 

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Gaming Company Sea Ltd.'s Key to Success: Tencent's Mentorship

We speak to president Nick Nash on the day of the company's IPO. One key to Sea Ltd.'s success, he says, is the funding and mentorship from China's Tencent, its largest shareholder. "We feel like they're our elder brother," says Nash.

With Its $1 Billion Investment in Lyft, Google Throws Shade at Uber

Lyft announced Thursday it received $1 billion in a funding round led by an investment arm of Google-parent Alphabet. Axios' Dan Primack calls it "one-part strategy, and one-part spite" at Uber.

Actor David Arquette on Producing for Amazon's Digital Platform

Arquette has produced TV shows for traditional companies, but "Sigmund and the Sea Monsters" marks his first digital-only platform. Arquette tells us what it's like to create content for Amazon. 

FEATURED HEADLINES

SNAP IS THE LATEST VICTIM OF PERFORMANCE-REVIEW SEASON:

The social media app was hit by a round of layoffs. Business Insider reported the company cut 18 members of its recruiting team and could make further reductions after employee reviews. The cuts come one month after the company laid off a handful of engineers in its Spectacles unit. In its last earnings report, Snap also warned that rapid international expansion may mean layoffs in those markets as well. CEO Evan Spiegel expects to slow down hiring next year. Snap stock is down almost 50% from the highs hit just after its March IPO. The company will report earnings November 7th and is expected to post a loss of fifteen cents a share.

MUCH MORE IN STORE FOR SOFTBANK'S VISION FUND:

The $100 billion tech investment vehicle may just be the beginning for the Japanese conglomerate. CEO Masayoshi Son reportedly plans to launch second, third, and fourth iterations over the next several years, which together could invest almost $1 trillion in the industry! The first Vision Fund, announced last October, has already allocated about $18 billion, with investments including $4.4 billion in shared office space company WeWork and $250 million in messaging app Slack. It's also in talks for what could be a $10 billion funding round in Uber. That deal could be finalized within the next few days.

FACEBOOK AND APPLE AT ODDS OVER NEWS-SUBSCRIPTION SERVICE:

Facebook is getting ready to roll out tests for its news-subscription service within the next few weeks. But it won't be available to iOS users. What's the holdup? Facebook wants to give 100% of the resulting revenues to publishers, while Apple is pushing to collect 30% of that for itself. The subscription plan, which was announced over the summer, has a "freemium" model with ten articles coming at no cost, but then requiring users to pay. The Washington Post, The Economist, and the LA Times are among the publishers already on board. Companies that are holding off, such as The Financial Times, Wall Street Journal, and The New York Times, want the bar for free articles to be set lower.