Hey I’m Domm, it’s Wednesday 15th August 2018, and this is your daily precap of the latest and greatest technology, startups, and business news.

Tinder founders and early staff have stopped swiping right and are now throwing right hooks at the company’s parent company, IAC.They have filed a lawsuit in the New York State court for damages of at least 2 Billion.The lawsuit is because they allege IAC manipulated data to keep a company valuation done in 2017 at the same value of $3Bn which the company was valued at 2 years earlier.Although the suit does not offer an alternative valuation their suits seems to hint at a valuation of around $12Bn.Why does it matter, because the value of the company directly affects the value of the staffs contractual entitlements due under the buyout.It is absurd that Tinder’s valuation would remain unchanged over a two year period, when in the last year along revenue has grown 136% in the last year, as well as an 81% increase of subscribers, that’s a lot of horny swipers by the way. But, conversely, it seems that a figure of around $12Bn is unrealistic, as the parent company of Tinder Match, is a public traded company with a total market cap of only around $13.5Bn.Seems like there is good ground in the middle for a settlement!

Apple really wants your app to be sold as a subscription not bought upfront. Last year Apple held a secret invite only event for around 30 app development studios, some with as few as 1 or 2 developers.The entire point of the event was the get these developers to stop charging upfront for their apps and instead to charge a subscription free.The purpose is to actually increase developers overall returns on apps so they continue to build high quality apps. As there is a downward pressure on the price of apps due to large availability and competitiveness, and developers have ongoing costs for app well beyond the initial purchase.So Apple is betting that subscriptions for apps will help alleviate that downward pricing pressure and maintain a high quality of apps.It seems to be working, they now have 30,000 apps on the App Store generating $300M in subscription fees. It only represents around 2% of overall but it’s a growing and promising metric.

Elon Musk might be trying to take Tesla private using Saudi Arabia's Sovereign fund, but their Chinese competitor Nio, another electric car manufacturer backed by China’s Tech giants, has just done the opposite, listing on the New York Stock Exchange in a bit to take the company public. Nio is looking to raise as much as $1.8 Billion from the float.Nio is by far the challenger company here, with revenues of just $6.9M as at the end of June this year up from no revenue last year, with a loss of $502M year to date.

Smart speakers, which are now in 10% of all homes in the US, are set to become even more popular with sales forecast to grow by 50% by next year. I know I tend to harp on this, but where are our startups focused on this space? Imagine if 20 years ago when Google launched, if Googles search had no way of indexing most of the sites in the world. Or if today, there was no way a Google search could direct you to an online store where you could buy things?But billions of people still used Google and wanted a way to find and buy things.Well that is effectively the state of the smart speaker environment today.So Aussie entrepreneurs, go build networks and marketplaces connecting businesses with smart speakers. Pick a industry or sector and run like the wind.

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That was your daily precap, I am Domm, thanks for listening.