Tech Brew Ride Home Thu. 12/02 – Square Changes Its Name To Block
Dec 2, 2021
Square has transformed into Block, emphasizing blockchain and community empowerment. Meanwhile, Apple faces weaker iPhone demand ahead of the holidays. Instacart is trialing rapid delivery to compete in a crowded market, while Microsoft introduces Teams Essentials for small businesses. TikTok has unveiled new monetization features, igniting competition with other platforms. A staggering 37% of the global population remains offline, highlighting significant disparities in internet access. Plus, the phenomenon of Spotify Wrapped captivates users every year.
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Square Becomes Block
- Square, run by Jack Dorsey, is changing its name to Block to reflect its expansion beyond payments.
- The name change also signals a shift towards blockchain technologies, aligning with Dorsey's interest in crypto.
Apple's iPhone Demand Concerns
- Apple's stock price dropped due to reports of weaker than expected iPhone 13 demand.
- Supply chain issues and consumer concerns about inflation and the Omicron variant are contributing factors.
Instacart's 15-Minute Delivery
- Instacart is piloting a 15-minute grocery delivery service to compete with faster startups.
- This move suggests the instant delivery model may be sustainable despite high venture capital burn rates.