May 8, 2020
Good morning! This Friday, travel tech shows us just how bad things are, what we've learned from earnings season, and what Tesla employees think of Elon's tweets. Want Index in your inbox each morning? Subscribe here.
Tailored to meet client demand, the Nasdaq Cloud Data Service (NCDS) provides real-time streaming of exchange, index, fund and analytic data. Data is made available through a suite of APIs, allowing for effortless integration and a dramatic reduction in time to market for customer-designed applications.
As of 4:45 a.m. PDT: Nasdaq Futures: 0.99% | Euro 600: 0.72% | Nikkei: 2.56% | Hang Seng: 1.04%
It's hard to think of a tech subsector more exposed to this crisis than travel tech, and Thursday gave our first sense of just how badly it's been hit.
And if you thought that was bad, wait until you see TripAdvisor's results.
A report from Deutsche Bank this week explains that TripAdvisor's relatively poor performance will likely worsen still.
Still, it's not like Booking will come out unscathed. Deutsche Bank forecasts 2021 room night reservations to be 75% of 2019 levels, saying it doesn't think travel will fully recover until the second half of 2022.
Most big tech companies have now reported their earnings, and a fairly positive picture has been painted.
Here are some of the main things we've learned:
But the main thing? Things are probably going to get worse.
I wrote more about all this: Read it here.
I've always wondered how Tesla staff find Elon Musk; they are, after all, financially dependent on his behavior. Thankfully, social network Blind conducted a highly unscientific poll of 50+ employees to see what they think. The results: 54% think Musk's tweets harm the company, and 11% think he's an internet troll; 26% think he's a genius; and 44% think he's an internet troll, a genius and misunderstood all at the same time. Having watched some of his latest Joe Rogan interview, I think that seems fair.