Business, Spoken

Apple just became the first US company to surpass $800 billion in market capitalization. Speculation quickly followed that Apple would soon become the first $1 trillion company, with a rumored $1,000 iPhone 8 coming at year’s end. The company’s share price has been on a tear since the beginning of the year, and sales of the iPhone 7 have been strong in part because of safety issues surrounding rival Samsung devices. Apple retains an enviable brand image and a devoted consumer base.

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Vikingmaiden88 is twenty-six years old. She enjoys reading history and writing poetry. Her signature quote is from Shakespeare. I gleaned all this from her profile and posts on Stormfront.org, America's most popular online hate site. I also learned that Vikingmaiden88 has enjoyed the content on the site of the newspaper I work for, the New York Times. She wrote an enthusiastic post about a particular Times feature.

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Magic Leap, the secretive augmented reality tech startup that’s valued at $4.5 billion (and reportedly bores Beyoncé), settled a sex discrimination lawsuit this week. The plaintiff, Tannen Campbell, a former vice-president of strategic marketing, was hired to make the company’s product more appealing to women. Campbell filed a notice of settlement Monday in federal court in Florida, Magic Leap’s home state, and the terms of the settlement are confidential.

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Today Snap reported its first earnings as a public company, and it bombed. Snap’s stock market debut three months ago was the most valuable tech IPO in the US in two years, and certainly the most talked-about. Snap, after all, provides one of the few significant alternatives to the two giants of online advertising, Facebook and Google. If Snap can eke out some space in a field long dominated by this duopoly, that could mean more meaningful competition. ‘Snap is a niche platform.

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For Etsy, the internet's best-known marketplace for all things artisanal, the past week has served up a heaping portion of unpleasant corporate reality. After revealing aloss of nearly half-a-million dollars in the first quarter of 2017, Etsy said it would replace longtime chair and CEO Chad Dickerson. The company cut 8 percent of its workforce and said it wouldn't provide guidance on future earnings until August, when it hoped to have a better grip on its longer-term prospects.

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The girls were dancing on a neon tank, wearing sequined bikinis lit up by red and green laser light. A strobing fixed-wing aircraft passed overhead like the acid-trip kissing cousin of a Mitsubishi A6M Zero, with more sequined women dangling from it, trapeze-style. Flashing robots had preceded them — wheeling through the room, pumping their fists at the crowd — while the audience, seated on tiers of glittery red plastic swivel chairs, waved glow sticks.

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It was like a nightmare crossover between Gossip Girl and Black Mirror. Socialites, models, and celebrities, promised extravagant beachside benders, flocked to the Bahamas only to find feral dogs, luggage gone AWOL, and accommodations resembling FEMA camps. Social media feeds exploded with tales of wealthy millennials stranded on an island with little food or water.

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During a brief break in the online broadcast, Tom Hanks leaned toward Jack Dorsey. “So, has this been good for Twitter or bad?” he asked. Hanks was only semi-serious, but the Twitter CEO didn’t have an answer. Which is fair.

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Airbnb is trying to change the narrative. For so long, the nearly nine-year-old home-sharing platform pushed for growth by barging into new markets and new cities around the world, regulations be damned. So the news that the company agreed this week to settle its lawsuit against the City of San Francisco seems jarring.

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The Circle, a film adaptation of the best-selling novel by David Eggers about a mega-Silicon Valley company that has sinister plans to control the world, opened recently to tepid reviews and unimpressive box office. That shouldn’t obscure the fact that the issues it attempts to address—and which the novel brilliantly took on—are ones that need to be dealt with, urgently.

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