By Adam Lashinsky and Jeff John Roberts
November 27, 2018

Three quick tech thoughts to start your day:

  1. Bitcoin biting it. Its price has fallen below $4,000, from a lot more than that a year ago. Other so-called “cryptocurrencies” have fallen equally dramatic amounts. This is the bursting of a classic speculative bubble—with a twist. There never was any intrinsic value to the stuff in the first place. Tulips, after all, are pretty and therefore have a market. Internet companies could generate revenues, so some of them also could generate income.
  2. Trump attacking Apple. I’ve felt for a while now that we’d know things had gotten bad when the president trained his trade-war sights on Apple. After all, hundreds of thousands of Chinese jobs and millions of pampered consumers (in China and the West) depend on comity in U.S.-China trade relations. The leader of the free world told The Wall Street Journal Monday that levies on iPhones and MacBooks made in China are on the table. This thing is getting real.
  3. General Motors giving up on cars. GM announced massive layoffs, factories closures, and the shuttering of most of its passenger-car lines that include combustion engines under the hood. It took a decade for predictions of ride-sharing, self-driving, and electrification to come true. But it’s coming true. And now even healthier auto companies, like GM, are adjusting their strategies—and balance sheets—accordingly.
Adam Lashinsky


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