A landmark ruling by EU’s top court on Wednesday has effectively classified Uber as a transport service and as such it should be regulated like other taxi operators.

Uber has always argued that it is simply a digital app, an intermediary between drivers and customers and thus should fall under lighter EU rules for online services.

Well that doesn’t seem to be the case anymore. At least, not in Europe.

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Scandal plagued Uber faces ever mounting pressure, increased unrest amongst shareholders, strengthening competition and is losing allies & market share.

Needless to say, there’s blood in the water, and third parties have noticed.

Snapchat's parent company was punished in the stock market after it’s disappointing quarterly earnings call, diving about 16%. However in the aftermath of stock plunge, it emerged that Asian Tech Giant Tencent snapped up stock, to raise it’s stake in Snap Inc to 10 to 12%

Asian shares have risen back to pre-financial crisis highs, with the tech industry playing a pivotal role in the capital markets.

Since the dot.com bubble burst, tech firms have been playing second fiddle in the Asian equity markets, rarely taking primary roles during the rallies,

and almost always ceding the spotlight to the region’s giant financial firms.

Not anymore though

Largely thanks to Amazon's stock surge over the last year, in line with the US Stock markets astronomical bull run, Jeff Bezos has seen his net worth shoot up by USD$30 billion to hit USD$95 billion.

The current world's richest person sold a million Amazon.com Inc. shares this week for USD$1.1 billion, about 1.3% of his holdings, reducing his stake to 16.4%.

And what do billionaires do with their billions? Well listen in to and find out.

Things really aren’t looking great for Snap Inc right now.

The stock, already down almost 50% from its high in March, has been pummelled in after-hours trading, diving roughly 16% as it missed Wall Street's expectations for quarter with lackluster results .

Slowing user growth under mounting pressure from Instagram, disappointing numbers generated from their first piece of hardware, Spectacles, and multiple rounds of layoffs so far, does not paint a pretty snapshot of the company's future.

And this isn’t something that will disappear after 24 hours.

I’m going to start podcasting?