GM just took the wraps off the Hummer EV and it looks great. The vehicle is coming to dealers in 2022, with pre-orders starting in 2021. You can watch the unveiling here.
The vehicle is detailed here. With 1,000 HP, 350 mile range, and autonomous drive modes, it’s an impressive vehicle though still significantly more than Tesla said the Cybertruck will cost.
Original Content podcast: Just don’t watch Netflix’s ‘Holidate’ with your parents
You might think that a new Netflix film called “Holidate” offers holiday-themed romance that’s perfect for a family watch party. You’d be wrong.
The film stars Emma Roberts and Luke Bracey as a pair of strangers who agree (in classic romantic comedy style) to keep each other company on holidays.
And while the movie can’t be completely pigeonholed as a raunchy comedy — it also includes a dash of metatextual commentary, with a healthy dose of undiluted romantic schmaltz — “Holidate” is certainly filled with sexually frank dialogue, and a couple of its biggest set pieces go all-in on gross-out humor. So, and as one of the hosts of the Original Content podcast discovered, watching it with your family can be extremely uncomfortable.
But, assuming you avoid that awkwardness, is it actually funny? Sometimes! A word that comes up repeatedly in our review is “adequate” — Darrell embraced the film’s surprisingly dirty humor, while Anthony and Jordan were at least mildly entertained.
In addition to reviewing “Holidate,” we also discussed the implications of Netflix’s decision to remove “Chappelle’s Show” at Dave Chappelle’s request.
You can listen to our review in the player below, subscribe using Apple Podcasts or find us in your podcast player of choice. If you like the show, please let us know by leaving a review on Apple. You can also follow us on Twitter or send us feedback directly. (Or suggest shows and movies for us to review!)
If you’d like to skip ahead, here’s how the episode breaks down:
1:11 Dave Chappelle discussion
13:50 “Holidate” review
37:39 “Holidate” spoiler discussion
Black Friday on track for $8.9B+ in online sales as shoppers stay away from brick-and-mortar stores
Black Friday — the day that launched 1,000 other shopping holidays — may have lost its place as the “start” of the Christmas shopping season by now (it gets bigger and earlier with each passing year). But the day after Thanksgiving still pulls in a crowd of buyers looking for a bargain and remains a major bellwether for tracking how sales will progress in what is the most important period for the retail and commerce sector.
Because of the Covid-19 pandemic, this year was definitely slimmer when it came to actual, in-person crowds — kind of a refreshing break from those times when you feel like it’s the worst of humanity when people are breaking out into fights over TVs at a local Walmart — but online it seems that sales did not disappoint.
Figures from Adobe, which is following online sales in real-time at 80 of the top 100 retailers in the U.S., covering some 100 million SKUs, said that we are “on track” for a new sales record for the day, with between $8.9 billion and $9.6 billion expected in sales online for Black Friday, a jump of 20%-29% on last year.
For some context, in 2019, Adobe tracked $7.4 billion in online sales, and yesterday it said that shoppers spent $5.1 billion on Thanksgiving, with more than $3 billion spent online each day in the week leading up to Thursday.
Adobe was still tallying the final numbers for the day as of this morning European time, so we’ll update this post with the final numbers as and when we get them.
Its analysts say that the evening tends to be big for online shopping — which makes sense since people might have been either going out in person during the day, or just doing something else on a day off.
Not all are in agreement that night time is the right time, however. Figures from Shopify — which analyses activity from the 1 million-plus merchants that use its e-commerce platform — said that the peak shopping hour on its platform was actually 9am Eastern, when there were as many as $3 million in sales per minute. The average cart size for US shoppers was $95.60, it added.
Interestingly, Shopify’s per-minute sales number underscores how the long tail of merchants are still quite a ways behind the very biggest: Adobe noted that its figures, across the sites that it tracks (which have at least $1 billion in annual sales) tally to $6.2 million spent per minute on Black Friday.
In either case, smartphones continue to be a major driver of how sales get made. Adobe said that as of 4pm Eastern some 41.5% of all sales were on handsets, a bit lower than the day before but 7% higher than in 2019. And just as was the case yesterday, it seems that smaller retailers are attracting more shoppers on mobile: Shopify said that some 70% of its sales are being made via smartphones.
We’ll see how all of that plays out later today also with the initial figures from “Small Business Saturday”, which is the latest of the shopping designations added to the holiday weekend, this one trying to hone focus more squarely away from major chains and big box merchants.
One big takeaway from the bigger weekend figures will be that offering items — electronics, tech, toys and sports goods being the most popular categories — at the right price will help retailers continue to bring in sales, in what has proven to be an especially strong year for online shopping after many have opted to stay away from crowded places due to the pandemic, but also a critical year for retailers because of the drag that the pandemic has had on the wider economy.
Cyber Monday is likely to continue to be the biggest of them all, expected to bring in between $11.2 billion and $13 billion in e-commerce transactions, up 19%-38% year-on-year.
Perhaps because of the shift to more online shopping, and the concern over flagging sales, it’s interesting that “holiday season” has also been extended and now comes earlier. Adobe said a survey of consumers found that 41% said they would start shopping earlier this year than previous years due to much earlier discounts. Recall too that Amazon’s Prime Day was delayed to start in October this year, an ‘event’ that many treated as a moment to get a jump start on holiday shopping.
“Black Friday is headed for record-breaking levels as consumers flock online to shop for both holiday gifts and necessities,” said Taylor Schreiner, director, Adobe Digital Insights. “Concurrently, it’s also worth noting that this year, we’re seeing strong online sales momentum across not only the major shopping days like Thanksgiving weekend, but throughout the holiday season as consumers spread out their shopping across several weeks in reaction to continued, heavy discounting from retailers.”
Tony Hsieh, iconic Las Vegas tech entrepreneur, dies aged 46
Tony Hsieh, the former head of Zappos who catapulted the shoe company into the big leagues with a sale to Amazon and then used the proceeds of his success in a huge project kickstarting regeneration of a run-down part of Las Vegas, Nevada, with tech and wider business investments, has died at the age of 46.
The cause was injuries he sustained from a house fire, a spokesperson for Hsieh confirmed to TechCrunch. He was with his brother in Connecticut at the time of the fire. It’s not clear if anyone else was injured.
The ultimate cause of Hsieh’s death is still under investigation. We will update this as and if we learn more. The full statement from DTP Companies, which ran the Downtown Project (Hsieh’s mammoth initiative to regenerate the very run-down, older part of Las Vegas) is below.
The news has sent shock waves in the midst of the Thanksgiving holiday weekend, and through a community in a city — heavily dependent on tourism — that has been hit extraordinarily hard by the Covid-19 global health pandemic.
Hsieh was a brilliant, offbeat, and — to many people, often very directly — kind-hearted person who was regularly described as a visionary.
That was not an overstatement. Growing up in the Bay Area, he sold his first company — a marketing tech firm called LinkExchange — to Microsoft when he was just 24, in 1998.
Using some of the proceeds from that, he formed a venture capital firm called Venture Frog. One of his early investments there was ShoeSite.com, founded in 1999 by Nick Swinmurn at a time when the latter could see a shift happening in how people were shopping for footwear, doing a lot more of it online.
Hsieh was entrepreneurial in his investing instincts and subsequently took a more hands-on role in the startup, which eventually rebranded to Zappos. As Zappos’ CEO, Hsieh moved the company from the Bay Area to the outskirts of Vegas in 2004 to build out a bigger customer service operation, run under a particularly strong ethos of flat management aimed at empowering and inspiring employees. His leadership helped catapult it to huge growth: by 2009 he had sold Zappos to Amazon for around $1.2 billion (a truly giant sum for an e-commerce startup at the time).
He then continued to run the company, and used the proceeds of that work to focus on his next big project: urban regeneration.
Las Vegas is a city that leaves little to sentimentality. Situated in the middle of the desert, the city’s relentless focus has long been on growth, breaking new, seemingly limitless, ground to do so. For years, that meant huge swathes of “older” Vegas enterprises, in the Downtown region, simply sat empty, leading to the larger area eventually becoming a hotbed of crime and poverty. As with many other urban centers, it has been a vicious cycle: people focus on building newer homes and businesses elsewhere, and that makes the older areas even more neglected and vulnerable.
Hsieh saw the charm of Downtown, full of 20th-century modernist flourishes underneath its more obvious signs of decline, and proceeded to buy up huge chunks of the area: apartment buildings, houses, small business structures, old casinos and hotels, and empty lots.
His vision was not just to be a real estate magnate — although that is clearly something that interested him, too — but to regenerate Vegas in the mold of what he knew best: tech.
He proceeded to invest in a huge run of startups, provided they move to Vegas to build their businesses Downtown, to bring entrepreneurs and jobs to the area.
There were lots of quirky elements to the effort: it was not all about hard-nosed business, and some of it was just about trying to have fun on a grand scale. Inspired by Burning Man, for example, Hsieh paid to have several of the structures built for the festival in the desert to be transported and installed permanently in the Downtown area.
A couple of memorable evenings I spent with him in Vegas really underscored to me his profile in the city.
Hopping from casino to bar to restaurant, one night we ended up in an excellent piano karaoke dive where his best friend from childhood and I sang Duran Duran duets and he knocked back Frenet Brancas. People flocked around him wherever he went (so many breathless “Hi, Tony”‘s from many women we walked past). I remember wondering if this was what being a mafia boss (with friend playing the role of a consigliere, or me a guest for the night) was like back in the day.
Of course, the Downtown Project, as it came to be called, was a grand vision, and like many grand visions, it has had its ups and downs.
Some of that is unsurprising: Simply willing something to exist isn’t always enough, and the strike rate for success in tech is, in reality, very low. And the offbeat approach didn’t always play in the best way, and sometimes obscured what might actually be going on. Case in point: Hsieh abruptly stepped down as CEO of Zappos earlier this year, with no explanation provided for the move, after being in the role for 21 years.
Still, between Zappos and what Hsieh built in the city, his work and bigger ideas were and are an important testament to the impact that the tech industry can have with a little imagination and a lot of hard work and persistence.
Our condolences go out to his family and his many friends, and also those in the slice of the tech and business world he helped to create.
Statement from DTP below:
Good Afternoon, my name is Megan Fazio and I handle public relations for DTP Companies, formerly known as Downtown Project, which Tony Hsieh serves as the visionary of. With a heavy and devastated heart, we regret to inform you that Tony Hsieh passed away peacefully on November 27, 2020 surrounded by his beloved family.
Tony’s kindness and generosity touched the lives of everyone around him, and forever brightened the world. Delivering happiness was always his mantra, so instead of mourning his transition, we ask you to join us in celebrating his life.
On behalf of all DTP Companies employees and staff, we would like to express our deepest condolences to Tony’s family and friends who have all lost Tony as a cherished loved one, visionary and friend. Tony was highly regarded by all of his fellow friends and colleagues in the tight-knit family at DTP Companies, so this heartbreaking tragedy is one that affects many involved.
We ask that you continue to respect the family’s privacy during this most difficult and challenging time.
Facebook’s Libra could launch in January
According to a report from the Financial Times, Facebook-backed cryptocurrency Libra could launch in January. More interestingly, the Libra Association, the consortium created by Facebook, could scale back its ambitions once again.
When it was first unveiled, the Libra cryptocurrency was supposed to be a brand new currency tied to a basket of fiat currencies and securities. Originally, it wouldn’t be based on a single real world currency, but on a mix of multiple currencies.
Stablecoins are cryptocurrencies that don’t fluctuate in value against a specific fiat currency. For instance, one unit of a USD-backed stablecoin is always worth one dollar. Libra mentioned USD, EUR, GBP or SGD as base currencies for its various stablecoins.
According to the Financial Times, the Libra Association now plans to launch a single dollar-backed coin. It’ll compete directly with other stablecoins, such as USDC, PAX and Tether (USDT). The Libra Association still plans to roll out other currencies, but it’ll happen at a later time.
Facebook will most likely launch its own Libra wallet at the same time. Originally called Calibra, the Facebook subsidiary has been rebranded to Novi back in May.
In addition to a standalone app that will let you send and receive Libra tokens, you’ll be able to manage your Novi account from Messenger and WhatsApp. Facebook expects people to start using Novi for remittance purposes and peer-to-peer payments.
It’s unclear whether other members of the Libra Association also plan to launch their own Libra-based service at the same time. Members include Farfetch, Lyft, Shopify, Spotify and Uber.
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