WEEK STARTING JULY 22
AUSTRALIAN FINTECH & STARTUPS
CBA launched micro investing app ‘Pocket’. It allows users to purchase ETFs within a mobile app ($2 brokerage fee < $1000 & $50 minimum). The app provides educational modules on learning how to invest, alongside sustainable / ethical ETF investment options. Pocket will be a competitor to Raiz, but it lacks the ability to connect any bank account (must be CommSec) and lacks any round-up features. Nonetheless, impressive to see an incumbent innovate like this
Zip Co had another cracking quarter. Highlights: 1.3m customers, transaction volume up 108% to $1.1bn. Zipping ahead!
Have received their unrestricted banking license, 86 400 is looking to raise ~$100m
BNPL energy provider, Brighte, raised a $130m line of credit & backing from Mike Cannon-Brookes. More on Brighte here
Eyes peeled: the Consumer Data Right (CDR) bill was reintroduced to Parliament this week
Tinder launched 'Traveler Alert', a feature that automatically hides the profiles of LGBTQ+ users when they travel to countries where same-sex acts or relationships are criminalised
Microsoft invested $1bn into Elon Musk's OpenAI
Apple is acquiring most of Intel's smartphone modem business for ~$1bn. Fun fact: Apple will have over 17,000 wireless technology patents post-acquisition
China's social credit system strikes again, banning 23m people from buying travel tickets due to poor social scores
Interesting read: The future of insurance is happening without insurance firms. A great insight into the InsurTech industry
Side read: Twitter thread on the future of social networks
The State of LinkedIn - a twitter feed devoted to looking at brown-nosing LinkedIn posts. Hilarious read (warning: rabbit hole)
Answers at the end of the email
(a) On July 31, 1971, Air Force Colonel David Scott became the first person to drive what?
(b) What name refers to safety efforts that currently restrict cylinder capacity & prohibit supercharging?
(c) What is the world's northernmost national capital city?