Name: Tesla and Uber Made Big Waves This Week
Uploaded: 2016-08-04
Duration: 3 min 38 s
Description: And those are just some of this week’s top trending stories.

Tesla announced its second quarter earnings yesterday afternoon. As expected, the company is still burning through cash and continues to miss production targets. But CEO Elon Musk said the company has, quote, climbed out of production hell in June and was on track to launch its less pricey Model 3 car by year's end. And in other car news, leaked documents reveal that Lyft, while still playing second fiddle to Uber, is growing. Rides were up 12 % in July. Other details also point to growth, but anonymous sources have said that Lyft is gearing up for a sale. A move that can make even more sense, given Uber's decision to give up its business in China. And focus on competition here at home. Andrew, what do you make of that? Uber giving up on China. Well, you know, it's kind of interesting, because China is just proven to be such a hard nut to crack for the tech industry. I mean, it's not just privately funded companies, like Uber. You've got big tech companies failing at China, you know? Yeah, exactly, and I think it's remarkable because you see [ UNKNOWN ] he was joking that he was gonna apply for citizenship in China, he was spending a lot of money on the country. And looks like that's not gonna be going on anymore. Absolutely. Okay, moving on to the presidential campaign, we could easily spend the next 30 minutes talking about all of the twists and turns it's taking this week. But from a business perspective. Probably the most interesting thing that's happened is HP enterprise chief Med Whitman announcing her support for Hillary Clinton. On Facebook, Whitman, a long time Republican, called Trump reckless and un informed. Andrew, what do you make of this? Well it's kind of crazy I mean Meg Whitman she to me has been a canary in a coal mine for this race. I mean she's an immensely powerful republican, huge networks in California and business intact right so a big force and I would be worried if I were the republicans. I gotta agree. You see some silicon valley some billionaires coming out for Donald Trump. You have Peter Teal Carl Icahn. But there are a ton of big name business leaders lining up behind Hillary Clinton. You have Michael Bloomberg, Warren Buffet, Mark Cuban, Mark Benioff, the list really goes on and on. The other thing that's crazy to me is, we in the press focus so much on the Republican candidacy and how much it's in shambles, but the Democrats aren't exactly doing So great either, I mean, the DNC, the Democratic National Committee, the Chief had to step down, and there's turnover there. Plus, the DNC was hacked, reportedly, by Russian hackers, it just kind of a mess, you know? It's kind of a mess all around. Absolutely, all right. Clearly we have a lot to say about that. But here's what Fortune readers really care about right now, the top trending story on fortune. com is this. Why Nike is Getting Out of the Golf Equipment business. Ann, what do you make of this? Shouldn't Nike actually get out of golf? Yeah, I think so and I think so because no one plays golf anymore. [ LAUGH ] So in 2000, there were 38 million americans playing golf, now there are 23 million. I don't see that turning around. Millennials just don't wanna play. The big take for me is how much talent Nike is losing by pulling out of this. This area. I mean, Tiger Woods, Rory McIlroy, I mean they're going to go compete in France. Absolutely. And no doubt the Olympics will also be trending soon. Opening ceremonies are tomorrow in Rio. Andrew, you're going to be watching. What are you looking for? I'm looking at the athlete's feet truthfully. So one of the things that's fascinating to me is how athletes have to get financial support, right, how they make money to go down to the Olympics and compete. And that's through apparel and equipment sponsorships. But many of them don't have those sponsorships, and so if you look at their feet, they'll actually be taping over the logos, hoping that somebody will sponsor them. [ SOUND ] [ BLANK_AUDIO ]

And those are just some of this week’s top trending stories.