WEEK STARTING MAY 6
AUSTRALIAN FINTECH & STARTUPS
'86 400' wants to raise $250m to get into home loans. 86 400 is a mobile-only neobank (like Up) and is backed by Cuscal. But: they don't have a full banking license yet, and chose not to pursue a restricted ADI license (which limits $250,000 in a single deposit, and a maximum of $2 million in total deposits). They're still trying to get one, and I presume the money raise is highly contingent upon it
Prospa is putting the finishing touches on its IPO. Prospa pulled the plug on their IPO last year, minutes before listing
Don't expect Apple Pay any time soon if you're a Westpac or NAB customer
Uber raised $8.1bn via IPO
Google CEO Sundar Pichai announced a swathe of new privacy measures within the Google product suite. He cleverly coined the catch phrase "The present is private" which is a stab at Facebook's "The future is private". Facebook's trying to win the battle of 'we don't share your data after it's captured' whereas Google's saying 'we never captured it in the first place'
Uber and Lyft drivers protested ahead of the companies' IPO plans. Reason: unfair pay & lack of transparency. Striking drivers -> less drivers on the road -> surge pricing -> more money for drivers on the road. Unintentional incentive to not strike. Uber wins again
Bitcoin is going back up again
Australia’s competition regulator blocked a $15B merger between Vodafone Hutchison Australia and TPG
COOL ARTICLE OF THE WEEK
It's time to break up Facebook. An opinion piece on the influence of Zuckerberg within Facebook, from someone who knows him well.
Report: Best Way To Distinguish Hipster From Homeless Person is Apple AirPods
Answers at the end of the email
(a) Formulated in 1953, what item's first purpose was "water displacement" to prevent corrosion on missiles?
(b) Which 8-letter word, meaning "a reaction against a trend" comes from an engineering term for a jolt caused by a gap in machine parts?
(c) Once a poor British protectorate, in 2012 which peninsular country ranked as the world's richest per capita?