Three Things to know today (August 10th)
Aug 10, 2020
1. Amazon looking to fill vacant mall space with its fulfillment centers
In a striking metaphor of the tremendous shift to e-commerce that’s taken place over the last decade, Amazon is now reportedly in talks with Simon Property Group (the largest mall owner in America) to fill empty mall space with its warehouses. The conversations have been primarily focussed on former JCPenney and Sears locations - both bankrupt retailers that have been recently joined by the likes of Lord & Taylor and Neiman Marcus. We believe these potential deals are likely oriented around improving Amazon’s last-mile delivery times, given the ideal proximity of most retail malls to consumer residential centers.
2. Twitter has now entered the TikTok conversation
According to a WSJ article, Twitter has held preliminary discussions regarding a possible combination with TikTok, the popular video-sharing app that is currently being shopped around after facing a potential ban in the U.S. TikTok was recently said to have been in discussion with Microsoft as well, which at >50x Twitter's market cap, would be much better able to digest a deal of TikTok's size. A potential Twitter/TikTok combination would give the company a rare second chance at pursuing short-form video (and all the monetization options that that vertical unlocks) after it famously shut down Vine in 2016.
3. Huawei is running out of processor chips as a result of US sanctions
Huawei, the world’s top-selling smartphone manufacturer, recently disclosed it was close to running out of processor chips for its devices as a result of US sanctions. The Chinese company has been under tight US national security scrutiny because of its alleged close ties to the Chinese government. Meanwhile, US chip manufacturer Qualcomm has been lobbying against the restrictions, saying they would reduce US competitiveness in 5G chip development and would shift as much as $8 billion of market share over to foreign chip manufacturers - pointing to the complex network of ripple-through effects that global trade restrictions can create.
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