Product Management Confabulation
What Product Managers are talking about.
Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability. The EV-maker brought in $1.2 billion in revenue in the period, coming in just under its record haul from the prior quarter, according to its first-quarter earnings report that was […]
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Despite spending more than $100 billion on R&D over the last five years, Apple isn't planning to spin up too many new data centers to run or train AI models.
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Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and “several unforeseen challenges” cut into the automaker’s bottom line. Tesla reported revenue of $21.3 billion in the first quarter, a 9% drop from the first quarter of 2023. Analysts polled by Yahoo Finance […]
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Bumble, a once-powerful force in online dating, is facing a reckoning. The company posted weak Q4 2023 results today showing a $32 million net loss and $273.6 million in revenue. While up from the same period a year ago, earnings came in below Wall Street expectations and were paired with a disappointing Q1 2024 forecast […]
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Lucid Motors plans to build just 9,000 electric vehicles in 2024, only 500 to 1,000 more than it made in 2023, as it struggles with demand for its luxury sedans. If it sticks to that number, that means Lucid will wind up building around 10% of the 90,000 EVs it predicted it could make and […]
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Rivian is laying off 10% of its salaried workforce in a bid to cut costs in an increasingly tough market for electric vehicles, putting even more pressure on its future, more affordable EV called the R2. A limited number of non-manufacturing hourly employees will also be cut, founder and CEO RJ Scaringe said in a […]
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After disclosing better-than-expected financial results in its fourth quarter earnings report, U.S.-based Coinbase has big plans. The second largest crypto exchange told its investors that intends to lean heavily on its work with the popular USDC stablecoin this year, lever its recently launched layer-2 blockchain Base as a way to experiment with and improve blockchain […]
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Snap is not having a good quarter. Following this week’s news that the company was laying off 10% of its workforce, amounting to hundreds of employees, the company’s stock is now crashing after reporting a fourth-quarter earnings miss. The Snapchat maker’s stock dropped by over 30% in after-hours trading as investors reacted to Snap’s underwhelming […]
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Late last year, Spotify began offering 15 hours of monthly audiobook listening to its Premium subscribers in select markets, including the U.S. Now the company says the new service is the second-largest audiobook provider behind Amazon-owned Audible — something Spotify CEO Daniel Ek said was notable “given how entrenched the legacy players are.” During its […]
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