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Today's big stories

Amazon announced its new video game streaming service
Our analysts reckon official projections may have completely misjudged the rate of US economic growth – Read Now
A bunch of new companies just joined the stock market

1/3

Game Over

What’s Going On Here?

Amazon wants to play a game, and Google isn’t going to like it: the tech giant announced its foray into the video game streaming industry late last week.

What Does This Mean?

Amazon unveiled Luna, a service that’ll let gamers play famous titles without the need for a console or physical games. The company has claimed it doesn’t want to replace consoles, mind you, and argues that streamed games will attract a different audience altogether. It’s also said Luna will cost $5.99 a month at first, which undercuts Google’s rival streaming games service, Stadia.

Stadia – which could help Google grow YouTube into a massive gaming and esports hub – should give the company’s online advertising a boost. But Amazon’s new venture could lead to synergies of its own: the tech conglomerate might combine Luna with existing video streaming service Twitch – where over 800 million hours of content is viewed every month – to create yet another giant subscription and advertising business.

Why Should I Care?

For you personally: New battlegrounds.
Between Amazon, Apple, Google, and, of course, Netflix’s various movie and music streaming services, Big Tech is fighting for every dollar available – and now that fight has come to video games (tweet this). Besides Google, Amazon also has stiff competition in Microsoft, whose Xbox segment is still growing at the rate of knots. But who cares about them? You’re the real winner from competition like this, with lower prices and even more choice. Just look at Apple’s recently announced subscription bundles…

The bigger picture: New levels.
The $150 billion video games market – which is changing almost as fast as it’s growing – is increasingly moving away from one-time purchases and toward subscription and freemium options. Fortnite – a pioneer of the latter – made $2 billion last year, mostly from in-game purchases. But with lockdowns looming and a new PlayStation and Xbox coming soon, there could be life in the old console business yet.

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2/3 Premium

US Economy’s Due For A Growth Spurt

What’s Going On Here?

The American economy may have just experienced its sharpest quarterly contraction in history, but economic growth could be about to rocket beyond most forecasters’ wildest dreams.

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3/3

Rush Hour

What’s Going On Here?

Your commute might’ve become shorter, but initial public offerings (IPOs) are certainly on the move: three new companies hit the stock market on Friday, and there’s plenty more still to come.

What Does This Mean?

Last week’s debutants included such household names as German defense supplier Hensoldt, British restaurant chain Various Eateries, and $61 billion hydropower utilities firm China Yangtze Power. For Hensoldt, the IPO was a chance for its private equity investors to lock in their profits, while Various Eateries plans to use the money it raised to expand its brands – never mind the pressure the hospitality industry’s under. As for China Yangtze Power, it notably listed its shares using the “Shanghai-London Stock Connect” program, which lets firms listed in the UK and mainland China raise funds through the other’s stock markets.

Why Should I Care?

For markets: Too much of a good thing.
High demand for stocks – like there’s been for most of this year – bodes well for new listings since it suggests investors will be keen to snap up new shares. But if demand doesn’t keep increasing in line with supply, there’ll be less cash available to boost the price of an individual stock on average (all else equal). And supply is going to keep increasing: food delivery firm Deliveroo’s reportedly eyeing a 2021 IPO, Ant Financial’s record-breaker is right around the corner, and analytics firm Palantir – which is likely to be worth $22 billion when it “goes public” – hits the stock market on Wednesday.

For you personally: Snowflake capitalists.
After a bumper IPO from Warren Buffett-backed tech firm Snowflake this month, you’d be forgiven for getting excited about the potential money to be made from a new company. But remember: most of the benefit of a new stock’s initial boost goes to early shareholders who bought into private and even cheaper shares. Even if you’re on the ball, then, your gains could end up looking pretty paltry…

Get invested: Find the right IPO for you.

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💬 Quote of the day

“Everything comes to us that belongs to us if we create the capacity to receive it.”

– Rabindranath Tagore (a Bengali poet, writer, and philosopher)

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🤔 Q&A · RE:

“Modern monetary theory (MMT) says that it shouldn’t matter whether a government repays its debt, as long as inflation is under control. So why might investors still be worried about it?”

– Adrianne in London, UK

“A couple of reasons, Adrianne. One’s simply that MMT, as its name suggests, is only a theory – one that, if debunked, will leave a lot of money to be repaid and investors who bought government bonds out of pocket. The other is that inflation, while currently low, arguably isn’t under control. If you look at major economies like the US, the UK, the eurozone, and Japan, inflation’s lower than central banks would like it to be, and they’ve been struggling to increase it for years. And sure, record levels of coronavirus-induced central bank support might push inflation very high, very quickly, but it’d be a stretch to call that under control either.”

🙋 Ask a question

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🤖 The Next Gen Investor: 1pm NYC Time / 6pm UK Time, September 29th
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🍷 How To Hold Wine In A Diversified Portfolio: 2.30pm UK Time / 9.30am New York Time, October 21st

📚 What we're reading

Bigotry simply isn’t cost-effective (The Root)
Put your negative thoughts on paper (British GQ)
Banksy’s got integrity (The Fashion Law)

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Finimize - 🎮 Amazon pwns Google

Today's big stories

Game Over

What’s Going On Here?

What Does This Mean?

Why Should I Care?

US Economy’s Due For A Growth Spurt

🧐 Dress to impress with BOSS

Rush Hour

What’s Going On Here?

What Does This Mean?

Why Should I Care?

⏰ Workin’ 9 to 5…

Older messages

😮 Some stocks are anti-vaxxers

🍑 Nike breaks the internet

🌍 New event: A Tale of Two Economic Recoveries

🤞 Goldman has a new stock-picking strategy

🚨 Big banks' life of crime

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