weifeng_86 personal page - To The Moon

weifeng_86

weifeng_86

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2022-11-18

I doubt they will continue doing so now that the stock price is recovering.

2023-04-08

Everyone only has one egg?

2023-02-10

The future

Microsoft Thinks AI Can Beat Google at Search — CEO Satya Nadella Explains Why

2024-06-18

$COIN 20240621 235.0 PUT$

2021-04-19

LnC pls

Stocks are at all-time highs and the U.S. economy is booming. So why is everyone so nervous?

2021-06-10

Like n comment pls

U.S. stocks end lower ahead of inflation report

2021-05-30

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The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever

2021-05-18

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Wall St ends lower, pulled down by tech stocks

2021-06-19

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2021-06-01

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Here Are the 11 Best Performing IPOs of the Year

Go to Tiger App to see more news

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href=\"https://ttm.financial/OPT/MSTR 20251003 305.0 PUT\">$MSTR 20251003 305.0 PUT$</a>&nbsp;","listText":"<a href=\"https://ttm.financial/OPT/MSTR 20251003 305.0 PUT\">$MSTR 20251003 305.0 PUT$</a>&nbsp;","text":"$MSTR 20251003 305.0 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href=\"https://ttm.financial/S/GOOG\">$Alphabet(GOOG)$&nbsp;</a>&nbsp;","text":"$Alphabet(GOOG)$","images":[{"img":"https://community-static.tradeup.com/news/1e4e2dd7450c52e33ee55b2920f45bda","width":"1092","height":"1717"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/483045112517048","isVote":1,"tweetType":1,"viewCount":1049,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":481513255825848,"gmtCreate":1758590829510,"gmtModify":1758590831907,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/OPT/COIN 20250926 290.0 PUT\">$COIN 20250926 290.0 PUT$</a>&nbsp;","listText":"<a href=\"https://ttm.financial/OPT/COIN 20250926 290.0 PUT\">$COIN 20250926 290.0 PUT$</a>&nbsp;","text":"$COIN 20250926 290.0 PUT$","images":[{"img":"https://community-static.tradeup.com/news/37557be62d66cc675fd324df77ab84ab","width":"1092","height":"1717"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/481513255825848","isVote":1,"tweetType":1,"viewCount":1624,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":477970344604504,"gmtCreate":1757698281676,"gmtModify":1758080807529,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/00700\">$TENCENT(00700)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp; Luckily I closed out last months sell call option.","listText":"<a href=\"https://ttm.financial/S/00700\">$TENCENT(00700)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp; Luckily I closed out last months sell call option.","text":"$TENCENT(00700)$ Luckily I closed out last months sell call option.","images":[{"img":"https://community-static.tradeup.com/news/3b6bdd15fe8a38b0f8b4fd74ab355a40","width":"1092","height":"1717"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/477970344604504","isVote":1,"tweetType":1,"viewCount":2509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":477969514291248,"gmtCreate":1757698187440,"gmtModify":1757698189750,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/OPT/COIN 20250912 280.0 PUT\">$COIN 20250912 280.0 PUT$</a>&nbsp;","listText":"<a href=\"https://ttm.financial/OPT/COIN 20250912 280.0 PUT\">$COIN 20250912 280.0 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Engineering","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/465980432482616","isVote":1,"tweetType":1,"viewCount":2116,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368021179678896,"gmtCreate":1730866673883,"gmtModify":1730866678198,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Stick to the industries that have state support, such as solar and EVs.","listText":"Stick to the industries that have state support, such as solar and EVs.","text":"Stick to the industries that have state support, such as solar and EVs.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/368021179678896","isVote":1,"tweetType":1,"viewCount":2648,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317888179548384,"gmtCreate":1718647906924,"gmtModify":1718647911260,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/OPT/COIN 20240621 235.0 PUT\">$COIN 20240621 235.0 PUT$</a>&nbsp;","listText":"<a href=\"https://ttm.financial/OPT/COIN 20240621 235.0 PUT\">$COIN 20240621 235.0 PUT$</a>&nbsp;","text":"$COIN 20240621 235.0 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egg?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9946149778","isVote":1,"tweetType":1,"viewCount":2473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954356290,"gmtCreate":1676024418711,"gmtModify":1676024422462,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"The future","listText":"The future","text":"The future","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954356290","repostId":"2309556439","repostType":2,"repost":{"id":"2309556439","kind":"news","pubTimestamp":1675990351,"share":"https://ttm.financial/m/news/2309556439?lang=en_US&edition=fundamental","pubTime":"2023-02-10 08:52","market":"us","language":"en","title":"Microsoft Thinks AI Can Beat Google at Search — CEO Satya Nadella Explains Why","url":"https://stock-news.laohu8.com/highlight/detail?id=2309556439","media":"The Verge","summary":"AI is coming for your browser, your social media, and your operating system, too.","content":"<html><head></head><body><p>I’m coming to you from Microsoft’s campus in Redmond, where just a few hours ago, Microsoft announced that the next version of the Bing search engine would be powered by OpenAI, the company that makes ChatGPT. There’s also a new version of the Edge web browser with OpenAI chat tech in a window that can help you browse and understand web pages.</p><p>The in-depth presentation showed how OpenAI running in Bing and Edge could radically increase your productivity. They demo’d it making a travel itinerary, posting to LinkedIn, and rewriting code to work in a different programming language.</p><p>After the presentation, I was able to get some time with Microsoft CEO Satya Nadella. Nadella has been very bullish on AI. He’s previously talked about AI as the next major computing platform. I wanted to talk about this next step in AI, the partnership with OpenAI, and why he thought now was the best time to go after Google search.</p><p>This is a short interview, but it’s a good one. Okay, Satya Nadella, CEO of Microsoft. Here we go.</p><p><b>Satya Nadella, you are the CEO of Microsoft. Thank you for coming on</b><b><i>Decoder</i></b><b>today.</b></p><p>Thank you so much for having me.</p><p><b>Microsoft just announced a huge new version of Bing powered by OpenAI technology. A couple of weeks ago, the company made what was called a multibillion-dollar, multiyear investment in OpenAI. Tell us what’s going on.</b></p><p>Well, today’s announcement is all about rethinking the largest software category there is, search, with this new generation of AI because it’s a platform shift, and you get to reimagine pretty much everything, starting with the core ranking. In fact, perhaps the most salient part of today’s announcement is that we’ve had the best gain in relevance in the core ranking using some of these large models. Second, it’s not just a search engine; it’s an answer engine — because we’ve always had answers, but with these large models, the fidelity of the answers just gets so much better.</p><p>And then we’ve incorporated chat right into search, and that chat is grounded in search data. So you can do a natural language prompt or a query, which is long, you get a great answer, and then you can engage in a conversation with the prompt as the grounding or the context. So it’s about basically bringing in a more sophisticated, larger, next-generation model compared to ChatGPT and grounding it in search data.</p><p>The other last thing we showed off was a copilot for the web. In Edge, you can look at any website or any document on a website, like a 10-Q, for example, and then do things like summarization. So a whole lot of these features all came together essentially as the new Bing.</p><p><b>A really interesting piece of the puzzle here is that a lot of what you described is powered by OpenAI and OpenAI’s technology. OpenAI CEO Sam Altman was onstage with you today. You have worked with OpenAI for three years, but you haven’t acquired them. Instead, you made a huge investment in them. Why work with an outside technology vendor for the largest software category in the world?</b></p><p>First of all, you have to remember the relationship with OpenAI and our cooperation with OpenAI has many facets. The most important thing is what we’ve done over the last four years to actually build out the core infrastructure on which OpenAI is built: these large models, the training infrastructure — and the infrastructure doesn’t look like regular cloud infrastructure. We had to evolve Azure to have specialized AI infrastructure on which OpenAI is built. And by the way, Inception and Character.ai are also using Azure. There will be many others who will use Azure infrastructure. So we are very excited about that part. And then, of course, we get to incorporate these large models inside of our products and make those large models available as Azure AI. And in all of this, we have both an investment return and a commercial return. And so we think we are well placed to partner. I will never assume that great partnerships can’t have great returns for our customers, shareholders, and Microsoft.</p><p><b>There was a lot of talk in the presentation about the values that are coming into Bing, about the safety work that’s being done, about the responsible AI work that Microsoft has done for years. How do you make sure that bridges the gap to OpenAI, which is not your company but is obviously tied very closely to it? And how do you make sure that your products inherit all of those values even when you’re working with an outside company?</b></p><p>First of all, OpenAI cares about safety. In some sense, their entire inception was about how to think about safety and alignment in AI. And so, we share that. We’ve had our principles — as we talked about today, Nilay — since 2016. We’ve published the principles. And ever since, quite frankly, we’ve been very focused on the hard work of incorporating them into our engineering when we build products, starting with design. One of the things I think a lot about is, when you have a new model coming, it’s probably most important to put humans in the loop — versus designing the human out — so that you can, in fact, ensure that the human agency and judgment is what you use to train the model to be aligned with human feedback. So that’s what we are doing.</p><p>When I look at even what we are doing in Bing, we’re taking it one step further to ground AI in the context of search. So I always say, “Look, these generator models just don’t randomly generate stuff. You prompted it.” So there’s a whole lot you can do in the meta prompt and the sequence of prompts you generate, which we can assist with. So, there are a lot of, I call it, product design choices one gets to make when you think about AI and AI safety. Then, let’s come at it the other way. You have to take real care of the pretrained data because models are trained on pretrained data. What’s the quality, the provenance of that pretrained data? That’s a place where we’ve done a lot of work.</p><p>Second, then the safety around the model. Ad runtime. We have lots of classifiers around harmful content or bias, which we then catch. And then, of course, the takedown. Ultimately, in the application layer, you also have more of the safety net for it. So this is all going to come down to, I would call it, the everyday engineering practice. And guess what? Search is like that. Search is an AI product. It is interesting that we are now talking about a new algorithmic breakthrough in these large models, but we’ve had AI models for decades now, and we’ve really built our sense of what is authoritative, how to detect [what is] authoritative, how to ensure harmful content doesn’t get through. And those are all practices that’ll now be used.</p><p><b>That leads me to the value exchange of search right now. In a traditional search model, I ask Bing a question; it might return some snippet, but it usually returns a list of links. If I go visit a webpage, the creator of that webpage might capture some advertising revenue or something else. Now, you’re just answering the question directly. And you’ve trained the model on other people’s information, other people’s reporting, and being biased in favor of reporting. How do you make sure that they get the value back?</b></p><p>It’s very important. In fact, it’s one of the biggest things that is different about the way we have done the design. I would really encourage people to go look at it. … Look, at the end of the day, search is about fair use. Ultimately, we only get to use [all of this content] inside of a search engine if we’re generating traffic for the people who create it. And so, that’s why, if you look at whether it’s in the answer, whether it’s in chat, these are just a different way to represent the 10 blue links more in the context of what the user wants. So the core measure, even what SEO looks like, if anything, that’ll be the thing in the next multiple years [that] we’ll all learn. Perhaps there will be new incentives in SEO to even generate more authoritative content that then gets in. So overall, everything you saw there had annotations. Everything was linkable, and that’ll be the goal — whether it’s inside a search, in the answer, or even in the chat session.</p><p><b>But if I ask the new Bing what the 10 best gaming TVs are, and it just makes me a list, why should I, the user, then click on the</b> <b>link to</b> <b><i>The Verge</i></b><b>, which has another list of the 10 best gaming TVs?</b></p><p>Well, that’s a great question. But even there, you will say, “Hey, where did these things come from?” And would you want to go dig in? Even search today has that. We have answers. They may not be as high quality of answers. They are just getting better. So, I don’t think of this as a complete departure from what is expected of a search engine today, which is supposed to really respond to your query while giving users the links that they can then click on, like ads. And search works that way.</p><p><b>The reason I ask this is… obviously when you say you’re taking on the larger software category in the world of search, there’s a dominant player in Google. If Google stops sending as much traffic from its search engine results page to publishers, to creators, to other websites, regulators around the world would freak out because they have a dominant market share. Bing does not have a dominant market share. When you evaluate the risks, both IP, legal risks, regulatory risks, you say, “Well, look, we don’t have the share. We can take a step forward in how we present these results in a way that our competitor cannot.”</b></p><p>That’s not how I come at it.</p><p><b>I’m just curious.</b></p><p>Yeah, I come at it primarily on… today, if you look at the search category, it’s great. It works 50 percent of the time. It doesn’t work for the other 50 percent of the time. So I think what I really want to do is to go back and say, “Look, is there some new powerful technology that can make search a better product without fundamentally changing how search gets permission to even exist as a product, which is other people’s content organized in useful ways so that users can find them.” To me, that is the category. And so, we will live and die by our ability to help publishers get their content to be seen by more people.</p><p>Up to now, you’re absolutely right. Google has dominated this market by a significant margin. We hope, in fact, if anything, having two or multiple search engines — there’s not just us, there’ll be other competitors — that by having more evenly spread search share, it will only help publishers get traffic from multiple sources. And by the way, advertisers [will get] better pricing. And so publishers will make more money, advertisers will make more money, and users will have great innovation. Think about what a great day it’ll be.</p><p><b>I am eager for there to be more competition in search. What I’m curious about is this: if more and more people are producing more and more AI content and that becomes the base layer that you’re training against. So, if instead of me writing a story about the Chinese spy balloon, I asked Bing to write such a story, and that gets fed back into Bing, eventually, the amount of original content in the ecosystem begins to wither. Is that a feedback loop that you’re worried about?</b></p><p>Absolutely. But the way I look at it is what people talk about. My daughter sent me this unbelievable example the other day. She’s taking some French lit class, and she said, “Hey, I was using this AI tool to summarize what I was writing, and it took me two hours” — because she was doing meta prompts and prompts and learned more about that text than ever before. And so, I feel like, let’s give ourselves a little permission to think about what is original content. Because, as I said, AI doesn’t just generate it. You prompted it. You have a draft, which you edit. Today, I would be unemployable but for the red squiggly in Microsoft Word — because that’s what helps me write anything.</p><p>So, I think we’ve used and evolved to use new tools. I think of it that way. I think, yes, some of the drudgery of knowledge work may go away, but that doesn’t mean I won’t enjoy it. In fact, the best place, Nilay, I feel, is in GitHub Copilot. It’s not like suddenly you are not coding. If anything, you are more in the flow of coding with some of these prompts. You read more code, you accept more code. So I think it’s just a different way for us to perhaps enjoy our knowledge work more.</p><p><b>That brings us to the second product, which is the copilot inside of the Edge browser. If you look at Bing, you have an opportunity now to capture market share from Google. If you look at Edge, you have an opportunity to capture market share from Chrome, potentially Safari if you go to the iPhone. Is that how you’re seeing this? This is an inflection point, you have a new technology, you have a lead with this partnership with OpenAI, and it’s creating an opportunity for you to go take share? Or is it that you’re expanding the category, and you think you can initiate new users anyway?</b></p><p>I always start not from zero sum, but I look at it and say, “Hey, how does the category expand? How can we participate in that expansion?” That is, I think, the foundational level. But at the same time, there will be places where the dominant browser is Chrome. Forget anywhere else, on Windows, Google makes more money than all of Microsoft. So let’s start there. So there’s a huge opportunity for us if we got some additional share, whether for our browser or our search engine. And so, that’s how I look at it: let’s build first a product that is competitive in the marketplace that’s actually serving user needs, and like all things, Nilay, I’m not a one-platform guy. I grew up in a Microsoft that–</p><p><b>This is your big change in Microsoft, your leadership–</b></p><p>It’s the Microsoft that I grew up in. Because I always remember that Microsoft Office was on the Mac before even Windows. So that’s the Microsoft that I learned from. And I’ll always make sure that our software is everywhere where users want it.</p><p><b>It’s been a relative period of calm between Microsoft and Google. There was a previous period of, I would say, antipathy, or more open antipathy. Recently, you’ve partnered on things like Android on some of your hardware. I think Microsoft 365 on Chromebooks is a partnership that was recently announced. Do you expect this new head-on competition against their most important product to change that relationship?</b></p><p>Google is the 800-pound gorilla in search. I want people to know that we made them dance.</p><p>First of all, look, I have the greatest of admirations for Google and what they’ve done. They’re an unbelievable company with great talent, and I have a lot of respect for Sundar [Pichai] and his team. So therefore, I just want us to innovate. We competed today. Today was a day where we brought some more competition to search. Believe me, I’ve been at it for 20 years, and I’ve been waiting for it. But look, at the end of the day, they’re the 800-pound gorilla in this. That is what they are. And I hope that, with our innovation, they will definitely want to come out and show that they can dance. And I want people to know that we made them dance, and I think that’ll be a great day.</p><p><b>What was the moment in the development of the product where you said, “Okay, it’s ready. We should announce it like this” — with a pretty direct shot at the 800-pound gorilla? Was there a light switch that flipped for you? Was it a committee decision? How’d that work?</b></p><p>So when I first saw this new model… because the model that you saw today is the next-generation model–</p><p><b>Is it GPT-4?</b></p><p>Let Sam [Altman, OpenAI CEO], at the right time, talk about his numbers.</p><p><b>Okay.</b></p><p>So, it is the next-generation model, and it’s been done. We called it the Prometheus model because, as I said, we’ve done a lot to the model to ground it in search. So the search use case is pretty unique, and so, we needed to ground it in that as well. So when I first saw the raw model back in the summer of, I would say, 2022, that’s where I thought that this is a game-changer in terms of the search category, aside from everything else that I’m excited about, because I do care about Azure having these APIs even.</p><p>So we’ve been at it. In fact, I’ll never forget my first query I did on the model, which, I think for me, growing up, I always felt, if only I could read Rumi translated into Urdu translated into English, that is my dream. I just put that in as one long query, and it was magical to see it generated. And I said, “Man, this is different.” I could have programmed it, done some multi–</p><p><b>That was your first query?</b></p><p>That was the query that changed–</p><p><b>You are one of the classiest people I’ve ever met in my entire life. That’s a very complicated–</b></p><p>Poetry is great, man.</p><p><b>I buy it. My first query was like, “Are you alive?” So that’s where I would’ve gone. So, you run this query to translate this poem across two languages. And you receive the response, and you think, “Okay, this is a product with revenue possibility, or this is a product with market share possibility.”</b></p><p>Yeah. Like all things, one of the things that I think about is, in platform shifts, two things have to happen. You have to retool pretty much every product of yours, so you’ve got to rethink it, whether that’s the way you build it or what its core features are. It’s like how Microsoft had to pivot for the cloud to rethink exchange. It was not an exchange server. It was exchange as a service or what we had to do with our server infrastructure. We had to rebuild, essentially, a new core stack in Azure. So every time, with transitions, you have to essentially rewrite it. That’s how I think about it. The second thing is you also have to think about the business model. Sometimes these transitions are pretty harsh. I’ll tell you, the last transition from having the high share server business with great gross margins to saying, “Hey, the new business is called cloud, and it’s going to have one-fourth the margins” as the new news was pretty harsh, but we made it.</p><p>“Every day, I just want a few [more] users.”</p><p>Whereas in here, I look at this, there are two things. One is it’s absolutely new tech, but it builds on cloud. So that’s one place where we already have relevance, and so, there is the next generation of cloud. And second, in search, the economics are interesting, which is that we already have a profitable business but with very little share. And so, every day, I just want a few users and a little bit more gross margin. So, yeah, I did see, I think, a tremendous opportunity for us to make some real progress here.</p><p><b>So the model right now is an $11 billion a year revenue business, something like that?</b></p><p>Something like that. I think Amy [Hood, Microsoft CFO] is going to talk about — I don’t know how she wants to talk about it. Yeah.</p><p><b>Incredible hobby. I wish I had an $11 billion a year hobby. You want to grow that into a real business. You want to take market share. But obviously, the new technology does not have the same cost structure as the old search query. I’m sure that whatever you’re doing with OpenAI, it’s more compute-intensive, and then obviously you have a partner sitting in the middle of it. And then the monetization model is still search ads. It’s direct response search ads. But as you bring more and more content on the screen, that model might change or the price of those ads might change.</b></p><p>It’s so wonderful. Think about what you just said. You said, “Okay, here is the largest software category where we have the smallest share,” and what you just painted out is an unbelievable picture of incremental gross margin. If [former Microsoft CEO] Steve Ballmer saw that, he would’ve lit up and said, “Oh my God.” Very few times in history do opportunities like that show up where you suddenly can start a new race with a base where every day is incremental gross margin for you and someone else has to play to protect it all: every user and all the gross margin.</p><p><b>So, I want to wrap up with two questions here. One, I just want to come back to this. I think you are going to face a lot of scrutiny from publishers, creators, other website owners saying, “Hey, that is our training data.” You are already seeing it. Getty is suing a handful of the image-generation AI companies saying, “Hey, you’re generating results with our watermark in it. This is obviously ours.” So I’m curious if you have a view of the potential IP risk on the downside, or on the positive side, of how to grow and keep the ecosystem vibrant.</b></p><p>On the search side, I’m very, very clear. The search category is about fair use so that we can generate traffic back to publishers. We want to stay very–</p><p><b>And is that a KPI where you’re keeping track of traffic you’re sending out?</b></p><p>100 percent. That’s the only way we are going to be... Our bots are not going to be allowed to crawl search if we are not driving traffic. So therefore, that, I think, is the core of the category. In other places, again, it’ll have to be really thought through as to what is the fair use. And then sometimes, I think there’ll be some legal cases that will also have to create precedent. But at the end of the day, I don’t think any of this can be done without a framework of law that governs it and, ultimately, financial incentives that benefit. If anything, I look at this and say, “God, is this something where the fact that there’s going to be more competition can really help publishers get more monetization, advertisers get better returns for their investment, and users have more choice?”</p><p><b>All right. I want to end with what I think is the most important question. You have described a transformational moment in the largest software category in the world. You’ve said it. Obviously, there’s a moment of increased competition against the dominant player. What was it like in the room when you decided to stick with the Bing brand? There had to have been a slide with 50 options. It’s Microsoft; I’m assuming there’s some passionate back-and-forth debate. Eventually someone decides. Was it you who decided?</b></p><p>Yeah. We wanted to call it Azure Search 2023–</p><p><b>Xbox Live Search.</b></p><p>Or bring back Clippy. Yeah, yeah. No, look, interestingly enough, it was not much of a discussion. Because we felt, look, we love Bing. We have been at it. I was there the day of the Bing launch. I worked on it.</p><p><b>But it has a lot of baggage as a brand.</b></p><p>Yeah. It’s like, look, brands can be rebuilt as long as there’s innovation. I think the brands are only as good as the product and as good as the innovation, and so, we’re going to go work it.</p><p><b>And that was your choice.</b></p><p>Absolutely.</p><p><b>All right. Well, Satya, thank you so much for talking today. It was really exciting to see all the new stuff. I’m eager to see how it grows in the future.</b></p><p>Thank you so much, Nilay.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft Thinks AI Can Beat Google at Search — CEO Satya Nadella Explains Why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicrosoft Thinks AI Can Beat Google at Search — CEO Satya Nadella Explains Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-02-10 08:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theverge.com/23589994/microsoft-ceo-satya-nadella-bing-chatgpt-google-search-ai><strong>The Verge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>I’m coming to you from Microsoft’s campus in Redmond, where just a few hours ago, Microsoft announced that the next version of the Bing search engine would be powered by OpenAI, the company that makes...</p>\n\n<a href=\"https://www.theverge.com/23589994/microsoft-ceo-satya-nadella-bing-chatgpt-google-search-ai\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","BK4574":"无人驾驶","LU0444971666.USD":"天利全球科技基金","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","LU0061474960.USD":"天利环球焦点基金AU Acc","LU0130103400.USD":"Natixis Harris Associates Global Equity RA USD","BK4561":"索罗斯持仓","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0149725797.USD":"汇丰美国股市经济规模基金","LU0072462426.USD":"贝莱德全球配置 A2","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU0079474960.USD":"联博美国增长基金A","LU0011850046.USD":"贝莱德全球长线股票 A2 USD","LU0882574139.USD":"富达环球消费行业基金A ACC","LU0056508442.USD":"贝莱德世界科技基金A2","LU0957791311.USD":"THREADNEEDLE (LUX) GLOBAL FOCUS \"ZU\" (USD) ACC","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4567":"ESG概念","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","BK4576":"AR","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1261432733.SGD":"Fidelity World A-ACC-SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","MSFT":"微软","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","GOOG":"谷歌","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","BK4528":"SaaS概念","BK4516":"特朗普概念","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0082616367.USD":"摩根大通美国科技A（dist）","BK4504":"桥水持仓","BK4538":"云计算","BK4579":"人工智能","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","GOOGL":"谷歌A","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD"},"source_url":"https://www.theverge.com/23589994/microsoft-ceo-satya-nadella-bing-chatgpt-google-search-ai","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2309556439","content_text":"I’m coming to you from Microsoft’s campus in Redmond, where just a few hours ago, Microsoft announced that the next version of the Bing search engine would be powered by OpenAI, the company that makes ChatGPT. There’s also a new version of the Edge web browser with OpenAI chat tech in a window that can help you browse and understand web pages.The in-depth presentation showed how OpenAI running in Bing and Edge could radically increase your productivity. They demo’d it making a travel itinerary, posting to LinkedIn, and rewriting code to work in a different programming language.After the presentation, I was able to get some time with Microsoft CEO Satya Nadella. Nadella has been very bullish on AI. He’s previously talked about AI as the next major computing platform. I wanted to talk about this next step in AI, the partnership with OpenAI, and why he thought now was the best time to go after Google search.This is a short interview, but it’s a good one. Okay, Satya Nadella, CEO of Microsoft. Here we go.Satya Nadella, you are the CEO of Microsoft. Thank you for coming onDecodertoday.Thank you so much for having me.Microsoft just announced a huge new version of Bing powered by OpenAI technology. A couple of weeks ago, the company made what was called a multibillion-dollar, multiyear investment in OpenAI. Tell us what’s going on.Well, today’s announcement is all about rethinking the largest software category there is, search, with this new generation of AI because it’s a platform shift, and you get to reimagine pretty much everything, starting with the core ranking. In fact, perhaps the most salient part of today’s announcement is that we’ve had the best gain in relevance in the core ranking using some of these large models. Second, it’s not just a search engine; it’s an answer engine — because we’ve always had answers, but with these large models, the fidelity of the answers just gets so much better.And then we’ve incorporated chat right into search, and that chat is grounded in search data. So you can do a natural language prompt or a query, which is long, you get a great answer, and then you can engage in a conversation with the prompt as the grounding or the context. So it’s about basically bringing in a more sophisticated, larger, next-generation model compared to ChatGPT and grounding it in search data.The other last thing we showed off was a copilot for the web. In Edge, you can look at any website or any document on a website, like a 10-Q, for example, and then do things like summarization. So a whole lot of these features all came together essentially as the new Bing.A really interesting piece of the puzzle here is that a lot of what you described is powered by OpenAI and OpenAI’s technology. OpenAI CEO Sam Altman was onstage with you today. You have worked with OpenAI for three years, but you haven’t acquired them. Instead, you made a huge investment in them. Why work with an outside technology vendor for the largest software category in the world?First of all, you have to remember the relationship with OpenAI and our cooperation with OpenAI has many facets. The most important thing is what we’ve done over the last four years to actually build out the core infrastructure on which OpenAI is built: these large models, the training infrastructure — and the infrastructure doesn’t look like regular cloud infrastructure. We had to evolve Azure to have specialized AI infrastructure on which OpenAI is built. And by the way, Inception and Character.ai are also using Azure. There will be many others who will use Azure infrastructure. So we are very excited about that part. And then, of course, we get to incorporate these large models inside of our products and make those large models available as Azure AI. And in all of this, we have both an investment return and a commercial return. And so we think we are well placed to partner. I will never assume that great partnerships can’t have great returns for our customers, shareholders, and Microsoft.There was a lot of talk in the presentation about the values that are coming into Bing, about the safety work that’s being done, about the responsible AI work that Microsoft has done for years. How do you make sure that bridges the gap to OpenAI, which is not your company but is obviously tied very closely to it? And how do you make sure that your products inherit all of those values even when you’re working with an outside company?First of all, OpenAI cares about safety. In some sense, their entire inception was about how to think about safety and alignment in AI. And so, we share that. We’ve had our principles — as we talked about today, Nilay — since 2016. We’ve published the principles. And ever since, quite frankly, we’ve been very focused on the hard work of incorporating them into our engineering when we build products, starting with design. One of the things I think a lot about is, when you have a new model coming, it’s probably most important to put humans in the loop — versus designing the human out — so that you can, in fact, ensure that the human agency and judgment is what you use to train the model to be aligned with human feedback. So that’s what we are doing.When I look at even what we are doing in Bing, we’re taking it one step further to ground AI in the context of search. So I always say, “Look, these generator models just don’t randomly generate stuff. You prompted it.” So there’s a whole lot you can do in the meta prompt and the sequence of prompts you generate, which we can assist with. So, there are a lot of, I call it, product design choices one gets to make when you think about AI and AI safety. Then, let’s come at it the other way. You have to take real care of the pretrained data because models are trained on pretrained data. What’s the quality, the provenance of that pretrained data? That’s a place where we’ve done a lot of work.Second, then the safety around the model. Ad runtime. We have lots of classifiers around harmful content or bias, which we then catch. And then, of course, the takedown. Ultimately, in the application layer, you also have more of the safety net for it. So this is all going to come down to, I would call it, the everyday engineering practice. And guess what? Search is like that. Search is an AI product. It is interesting that we are now talking about a new algorithmic breakthrough in these large models, but we’ve had AI models for decades now, and we’ve really built our sense of what is authoritative, how to detect [what is] authoritative, how to ensure harmful content doesn’t get through. And those are all practices that’ll now be used.That leads me to the value exchange of search right now. In a traditional search model, I ask Bing a question; it might return some snippet, but it usually returns a list of links. If I go visit a webpage, the creator of that webpage might capture some advertising revenue or something else. Now, you’re just answering the question directly. And you’ve trained the model on other people’s information, other people’s reporting, and being biased in favor of reporting. How do you make sure that they get the value back?It’s very important. In fact, it’s one of the biggest things that is different about the way we have done the design. I would really encourage people to go look at it. … Look, at the end of the day, search is about fair use. Ultimately, we only get to use [all of this content] inside of a search engine if we’re generating traffic for the people who create it. And so, that’s why, if you look at whether it’s in the answer, whether it’s in chat, these are just a different way to represent the 10 blue links more in the context of what the user wants. So the core measure, even what SEO looks like, if anything, that’ll be the thing in the next multiple years [that] we’ll all learn. Perhaps there will be new incentives in SEO to even generate more authoritative content that then gets in. So overall, everything you saw there had annotations. Everything was linkable, and that’ll be the goal — whether it’s inside a search, in the answer, or even in the chat session.But if I ask the new Bing what the 10 best gaming TVs are, and it just makes me a list, why should I, the user, then click on the link to The Verge, which has another list of the 10 best gaming TVs?Well, that’s a great question. But even there, you will say, “Hey, where did these things come from?” And would you want to go dig in? Even search today has that. We have answers. They may not be as high quality of answers. They are just getting better. So, I don’t think of this as a complete departure from what is expected of a search engine today, which is supposed to really respond to your query while giving users the links that they can then click on, like ads. And search works that way.The reason I ask this is… obviously when you say you’re taking on the larger software category in the world of search, there’s a dominant player in Google. If Google stops sending as much traffic from its search engine results page to publishers, to creators, to other websites, regulators around the world would freak out because they have a dominant market share. Bing does not have a dominant market share. When you evaluate the risks, both IP, legal risks, regulatory risks, you say, “Well, look, we don’t have the share. We can take a step forward in how we present these results in a way that our competitor cannot.”That’s not how I come at it.I’m just curious.Yeah, I come at it primarily on… today, if you look at the search category, it’s great. It works 50 percent of the time. It doesn’t work for the other 50 percent of the time. So I think what I really want to do is to go back and say, “Look, is there some new powerful technology that can make search a better product without fundamentally changing how search gets permission to even exist as a product, which is other people’s content organized in useful ways so that users can find them.” To me, that is the category. And so, we will live and die by our ability to help publishers get their content to be seen by more people.Up to now, you’re absolutely right. Google has dominated this market by a significant margin. We hope, in fact, if anything, having two or multiple search engines — there’s not just us, there’ll be other competitors — that by having more evenly spread search share, it will only help publishers get traffic from multiple sources. And by the way, advertisers [will get] better pricing. And so publishers will make more money, advertisers will make more money, and users will have great innovation. Think about what a great day it’ll be.I am eager for there to be more competition in search. What I’m curious about is this: if more and more people are producing more and more AI content and that becomes the base layer that you’re training against. So, if instead of me writing a story about the Chinese spy balloon, I asked Bing to write such a story, and that gets fed back into Bing, eventually, the amount of original content in the ecosystem begins to wither. Is that a feedback loop that you’re worried about?Absolutely. But the way I look at it is what people talk about. My daughter sent me this unbelievable example the other day. She’s taking some French lit class, and she said, “Hey, I was using this AI tool to summarize what I was writing, and it took me two hours” — because she was doing meta prompts and prompts and learned more about that text than ever before. And so, I feel like, let’s give ourselves a little permission to think about what is original content. Because, as I said, AI doesn’t just generate it. You prompted it. You have a draft, which you edit. Today, I would be unemployable but for the red squiggly in Microsoft Word — because that’s what helps me write anything.So, I think we’ve used and evolved to use new tools. I think of it that way. I think, yes, some of the drudgery of knowledge work may go away, but that doesn’t mean I won’t enjoy it. In fact, the best place, Nilay, I feel, is in GitHub Copilot. It’s not like suddenly you are not coding. If anything, you are more in the flow of coding with some of these prompts. You read more code, you accept more code. So I think it’s just a different way for us to perhaps enjoy our knowledge work more.That brings us to the second product, which is the copilot inside of the Edge browser. If you look at Bing, you have an opportunity now to capture market share from Google. If you look at Edge, you have an opportunity to capture market share from Chrome, potentially Safari if you go to the iPhone. Is that how you’re seeing this? This is an inflection point, you have a new technology, you have a lead with this partnership with OpenAI, and it’s creating an opportunity for you to go take share? Or is it that you’re expanding the category, and you think you can initiate new users anyway?I always start not from zero sum, but I look at it and say, “Hey, how does the category expand? How can we participate in that expansion?” That is, I think, the foundational level. But at the same time, there will be places where the dominant browser is Chrome. Forget anywhere else, on Windows, Google makes more money than all of Microsoft. So let’s start there. So there’s a huge opportunity for us if we got some additional share, whether for our browser or our search engine. And so, that’s how I look at it: let’s build first a product that is competitive in the marketplace that’s actually serving user needs, and like all things, Nilay, I’m not a one-platform guy. I grew up in a Microsoft that–This is your big change in Microsoft, your leadership–It’s the Microsoft that I grew up in. Because I always remember that Microsoft Office was on the Mac before even Windows. So that’s the Microsoft that I learned from. And I’ll always make sure that our software is everywhere where users want it.It’s been a relative period of calm between Microsoft and Google. There was a previous period of, I would say, antipathy, or more open antipathy. Recently, you’ve partnered on things like Android on some of your hardware. I think Microsoft 365 on Chromebooks is a partnership that was recently announced. Do you expect this new head-on competition against their most important product to change that relationship?Google is the 800-pound gorilla in search. I want people to know that we made them dance.First of all, look, I have the greatest of admirations for Google and what they’ve done. They’re an unbelievable company with great talent, and I have a lot of respect for Sundar [Pichai] and his team. So therefore, I just want us to innovate. We competed today. Today was a day where we brought some more competition to search. Believe me, I’ve been at it for 20 years, and I’ve been waiting for it. But look, at the end of the day, they’re the 800-pound gorilla in this. That is what they are. And I hope that, with our innovation, they will definitely want to come out and show that they can dance. And I want people to know that we made them dance, and I think that’ll be a great day.What was the moment in the development of the product where you said, “Okay, it’s ready. We should announce it like this” — with a pretty direct shot at the 800-pound gorilla? Was there a light switch that flipped for you? Was it a committee decision? How’d that work?So when I first saw this new model… because the model that you saw today is the next-generation model–Is it GPT-4?Let Sam [Altman, OpenAI CEO], at the right time, talk about his numbers.Okay.So, it is the next-generation model, and it’s been done. We called it the Prometheus model because, as I said, we’ve done a lot to the model to ground it in search. So the search use case is pretty unique, and so, we needed to ground it in that as well. So when I first saw the raw model back in the summer of, I would say, 2022, that’s where I thought that this is a game-changer in terms of the search category, aside from everything else that I’m excited about, because I do care about Azure having these APIs even.So we’ve been at it. In fact, I’ll never forget my first query I did on the model, which, I think for me, growing up, I always felt, if only I could read Rumi translated into Urdu translated into English, that is my dream. I just put that in as one long query, and it was magical to see it generated. And I said, “Man, this is different.” I could have programmed it, done some multi–That was your first query?That was the query that changed–You are one of the classiest people I’ve ever met in my entire life. That’s a very complicated–Poetry is great, man.I buy it. My first query was like, “Are you alive?” So that’s where I would’ve gone. So, you run this query to translate this poem across two languages. And you receive the response, and you think, “Okay, this is a product with revenue possibility, or this is a product with market share possibility.”Yeah. Like all things, one of the things that I think about is, in platform shifts, two things have to happen. You have to retool pretty much every product of yours, so you’ve got to rethink it, whether that’s the way you build it or what its core features are. It’s like how Microsoft had to pivot for the cloud to rethink exchange. It was not an exchange server. It was exchange as a service or what we had to do with our server infrastructure. We had to rebuild, essentially, a new core stack in Azure. So every time, with transitions, you have to essentially rewrite it. That’s how I think about it. The second thing is you also have to think about the business model. Sometimes these transitions are pretty harsh. I’ll tell you, the last transition from having the high share server business with great gross margins to saying, “Hey, the new business is called cloud, and it’s going to have one-fourth the margins” as the new news was pretty harsh, but we made it.“Every day, I just want a few [more] users.”Whereas in here, I look at this, there are two things. One is it’s absolutely new tech, but it builds on cloud. So that’s one place where we already have relevance, and so, there is the next generation of cloud. And second, in search, the economics are interesting, which is that we already have a profitable business but with very little share. And so, every day, I just want a few users and a little bit more gross margin. So, yeah, I did see, I think, a tremendous opportunity for us to make some real progress here.So the model right now is an $11 billion a year revenue business, something like that?Something like that. I think Amy [Hood, Microsoft CFO] is going to talk about — I don’t know how she wants to talk about it. Yeah.Incredible hobby. I wish I had an $11 billion a year hobby. You want to grow that into a real business. You want to take market share. But obviously, the new technology does not have the same cost structure as the old search query. I’m sure that whatever you’re doing with OpenAI, it’s more compute-intensive, and then obviously you have a partner sitting in the middle of it. And then the monetization model is still search ads. It’s direct response search ads. But as you bring more and more content on the screen, that model might change or the price of those ads might change.It’s so wonderful. Think about what you just said. You said, “Okay, here is the largest software category where we have the smallest share,” and what you just painted out is an unbelievable picture of incremental gross margin. If [former Microsoft CEO] Steve Ballmer saw that, he would’ve lit up and said, “Oh my God.” Very few times in history do opportunities like that show up where you suddenly can start a new race with a base where every day is incremental gross margin for you and someone else has to play to protect it all: every user and all the gross margin.So, I want to wrap up with two questions here. One, I just want to come back to this. I think you are going to face a lot of scrutiny from publishers, creators, other website owners saying, “Hey, that is our training data.” You are already seeing it. Getty is suing a handful of the image-generation AI companies saying, “Hey, you’re generating results with our watermark in it. This is obviously ours.” So I’m curious if you have a view of the potential IP risk on the downside, or on the positive side, of how to grow and keep the ecosystem vibrant.On the search side, I’m very, very clear. The search category is about fair use so that we can generate traffic back to publishers. We want to stay very–And is that a KPI where you’re keeping track of traffic you’re sending out?100 percent. That’s the only way we are going to be... Our bots are not going to be allowed to crawl search if we are not driving traffic. So therefore, that, I think, is the core of the category. In other places, again, it’ll have to be really thought through as to what is the fair use. And then sometimes, I think there’ll be some legal cases that will also have to create precedent. But at the end of the day, I don’t think any of this can be done without a framework of law that governs it and, ultimately, financial incentives that benefit. If anything, I look at this and say, “God, is this something where the fact that there’s going to be more competition can really help publishers get more monetization, advertisers get better returns for their investment, and users have more choice?”All right. I want to end with what I think is the most important question. You have described a transformational moment in the largest software category in the world. You’ve said it. Obviously, there’s a moment of increased competition against the dominant player. What was it like in the room when you decided to stick with the Bing brand? There had to have been a slide with 50 options. It’s Microsoft; I’m assuming there’s some passionate back-and-forth debate. Eventually someone decides. Was it you who decided?Yeah. We wanted to call it Azure Search 2023–Xbox Live Search.Or bring back Clippy. Yeah, yeah. No, look, interestingly enough, it was not much of a discussion. Because we felt, look, we love Bing. We have been at it. I was there the day of the Bing launch. I worked on it.But it has a lot of baggage as a brand.Yeah. It’s like, look, brands can be rebuilt as long as there’s innovation. I think the brands are only as good as the product and as good as the innovation, and so, we’re going to go work it.And that was your choice.Absolutely.All right. Well, Satya, thank you so much for talking today. It was really exciting to see all the new stuff. I’m eager to see how it grows in the future.Thank you so much, Nilay.","news_type":1,"symbols_score_info":{"GOOG":0.9,"MSFT":0.9,"GOOGL":0.9}},"isVote":1,"tweetType":1,"viewCount":1750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9963788417,"gmtCreate":1668758904439,"gmtModify":1676538109237,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"I doubt they will continue doing so now that the stock price is recovering.","listText":"I doubt they will continue doing so now that the stock price is recovering.","text":"I doubt they will continue doing so now that the stock price is recovering.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9963788417","isVote":1,"tweetType":1,"viewCount":1669,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9992416939,"gmtCreate":1661353088423,"gmtModify":1676536502007,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"I will short tsla","listText":"I will short tsla","text":"I will short tsla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9992416939","isVote":1,"tweetType":1,"viewCount":2161,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9099686088,"gmtCreate":1643344881804,"gmtModify":1676533808749,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Buy the dip","listText":"Buy the dip","text":"Buy the dip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099686088","repostId":"1194553621","repostType":4,"repost":{"id":"1194553621","kind":"news","pubTimestamp":1643337630,"share":"https://ttm.financial/m/news/1194553621?lang=en_US&edition=fundamental","pubTime":"2022-01-28 10:40","market":"us","language":"en","title":"Tesla Earnings ‘Disappointed.’ Why Analysts Are Raising Their Price Targets.","url":"https://stock-news.laohu8.com/highlight/detail?id=1194553621","media":"Barrons","summary":"Teslastock tumbled Thursday, a day after reporting better-than-expected fourth-quarter earnings—a sign that the numbers still managed to disappoint investors. Wall Street analysts, however, seemed far","content":"<html><head></head><body><p>Tesla stock tumbled Thursday, a day after reporting better-than-expected fourth-quarter earnings — a sign that the numbers still managed to disappoint investors. Wall Street analysts, however, seemed far from disappointed, as a handful of raised their price targets for Tesla stock.</p><p>Rising target prices, however, might not be good enough to boost shares in the short run.</p><p>Tesla stock dived over 11% on Thursday at roughly $829 a share. The S&amp;P 500 is off about 0.5%. The Dow Jones Industrial Average has fallen 0.02%. The Nasdaq Composite is down 1.4%.</p><p>It’s a severe reaction to the company reporting $2.54 in per-share earnings from $17.7 billion in sales for the fourth quarter. Wall Street was looking for $2.36 a share from $17.1 billion in sales. It’s the company’s fourth consecutive earnings “beat.”</p><p>Piper Sandler analyst Alexander Potter maintained his Buy rating on shares and $1,300 price target despite calling the quarter not “completely flawless.” Supply-chain problems persist, adding cost, and new product rollouts, such as Cybertruck, are happing more slowly than some expect.</p><p>Baird analyst Ben Kallo also noted supply chain headwinds in his Thursday report following earnings, but was encouraged by management’s goal to grow volumes more than 50% in 2022. That implies 2022 deliveries of 1.4 million units. Kallo also maintained his Buy rating and raised an older price target to $1,108 from $888.</p><p>Kallo had his $888 target since October. Not all analysts change estimates and targets at the same rate.</p><p>Wells Fargo analyst Colin Langan also raised his Tesla price target to $910 from $860 a share. He kept his Hold rating on Tesla stock. Tesla CEO Elon Musk said Wednesday he’s confident Tesla will have truly self-driving cars by the end of 2022. Langan is skeptical. He still increased his price target because his 2022 earnings estimates went up following the quarter. Langan sees Tesla earnings $7.85 a share in 2022, up from $6.90 a share.</p><p>That’s a relatively low estimate. Overall, Wall Street expects Tesla to earn $10 a share in 2022. That estimate is up from about $8.40 a share three months ago. Rising estimates is probably the biggest factor in rising target prices. The average analyst target price for Tesla stock has risen to $967 a share from $758 a share over the past three months.</p><p>The average analyst target price is up about $13 a share after analysts digested Wednesday’s fourth-quarter earnings. The 2022 consensus earnings estimate is up about 25 cents a share in response to earnings.</p><p>Interestingly, the most bullish analysts, including Potter, don’t seem to be increasing target prices post earnings. The more bearish analysts, such as Langan, are the ones making larger adjustments.</p><p>New Street Research analyst Pierre Ferragu is a Tesla bull. He maintained his Buy rating and $1,580 price target for the stock calling the quarter a “comfortable” beat. Wedbush analyst Dan Ives, another bull, also maintained his Buy rating and $1,400 price target after the quarter. He called the quarter “stellar.”</p><p>Morgan Stanley analyst Adam Jonas didn’t appear to go as far as stellar, but still heaped praise on the company in his Wednesday report following earnings. He called Tesla an “EV cash machine …with just two cars and two plants.” in a Wednesday report following earnings.</p><p>The cars are the Model 3 and Model Y. Tesla makes Model S and X vehicles, but those are lower volume models. Tesla makes cars in Fremont, California and Shanghai, but is starting up two new plants in Austin, Texas and Germany.</p><p>“Nothing truly narrative changing for Tesla bulls” from the quarter added Jonas. He left his $8.84 per share 2022 earnings estimate unchanged as well as his $1,300 price target. Jonas rates Tesla stock Buy.</p><p>Overall, about 46% of analysts covering Tesla stock rate share Buy. The average Buy rating ratio for stocks in the S&amp;P is about 58%. No one upgraded or downgraded Tesla stock following earnings, according to Bloomberg data.</p></body></html>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Earnings ‘Disappointed.’ Why Analysts Are Raising Their Price Targets.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Earnings ‘Disappointed.’ Why Analysts Are Raising Their Price Targets.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-28 10:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-stock-earnings-analysts-51643288684?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla stock tumbled Thursday, a day after reporting better-than-expected fourth-quarter earnings — a sign that the numbers still managed to disappoint investors. Wall Street analysts, however, seemed ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-earnings-analysts-51643288684?mod=hp_LATEST\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-earnings-analysts-51643288684?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194553621","content_text":"Tesla stock tumbled Thursday, a day after reporting better-than-expected fourth-quarter earnings — a sign that the numbers still managed to disappoint investors. Wall Street analysts, however, seemed far from disappointed, as a handful of raised their price targets for Tesla stock.Rising target prices, however, might not be good enough to boost shares in the short run.Tesla stock dived over 11% on Thursday at roughly $829 a share. The S&P 500 is off about 0.5%. The Dow Jones Industrial Average has fallen 0.02%. The Nasdaq Composite is down 1.4%.It’s a severe reaction to the company reporting $2.54 in per-share earnings from $17.7 billion in sales for the fourth quarter. Wall Street was looking for $2.36 a share from $17.1 billion in sales. It’s the company’s fourth consecutive earnings “beat.”Piper Sandler analyst Alexander Potter maintained his Buy rating on shares and $1,300 price target despite calling the quarter not “completely flawless.” Supply-chain problems persist, adding cost, and new product rollouts, such as Cybertruck, are happing more slowly than some expect.Baird analyst Ben Kallo also noted supply chain headwinds in his Thursday report following earnings, but was encouraged by management’s goal to grow volumes more than 50% in 2022. That implies 2022 deliveries of 1.4 million units. Kallo also maintained his Buy rating and raised an older price target to $1,108 from $888.Kallo had his $888 target since October. Not all analysts change estimates and targets at the same rate.Wells Fargo analyst Colin Langan also raised his Tesla price target to $910 from $860 a share. He kept his Hold rating on Tesla stock. Tesla CEO Elon Musk said Wednesday he’s confident Tesla will have truly self-driving cars by the end of 2022. Langan is skeptical. He still increased his price target because his 2022 earnings estimates went up following the quarter. Langan sees Tesla earnings $7.85 a share in 2022, up from $6.90 a share.That’s a relatively low estimate. Overall, Wall Street expects Tesla to earn $10 a share in 2022. That estimate is up from about $8.40 a share three months ago. Rising estimates is probably the biggest factor in rising target prices. The average analyst target price for Tesla stock has risen to $967 a share from $758 a share over the past three months.The average analyst target price is up about $13 a share after analysts digested Wednesday’s fourth-quarter earnings. The 2022 consensus earnings estimate is up about 25 cents a share in response to earnings.Interestingly, the most bullish analysts, including Potter, don’t seem to be increasing target prices post earnings. The more bearish analysts, such as Langan, are the ones making larger adjustments.New Street Research analyst Pierre Ferragu is a Tesla bull. He maintained his Buy rating and $1,580 price target for the stock calling the quarter a “comfortable” beat. Wedbush analyst Dan Ives, another bull, also maintained his Buy rating and $1,400 price target after the quarter. He called the quarter “stellar.”Morgan Stanley analyst Adam Jonas didn’t appear to go as far as stellar, but still heaped praise on the company in his Wednesday report following earnings. He called Tesla an “EV cash machine …with just two cars and two plants.” in a Wednesday report following earnings.The cars are the Model 3 and Model Y. Tesla makes Model S and X vehicles, but those are lower volume models. Tesla makes cars in Fremont, California and Shanghai, but is starting up two new plants in Austin, Texas and Germany.“Nothing truly narrative changing for Tesla bulls” from the quarter added Jonas. He left his $8.84 per share 2022 earnings estimate unchanged as well as his $1,300 price target. Jonas rates Tesla stock Buy.Overall, about 46% of analysts covering Tesla stock rate share Buy. The average Buy rating ratio for stocks in the S&P is about 58%. No one upgraded or downgraded Tesla stock following earnings, according to Bloomberg data.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007605395,"gmtCreate":1642855076269,"gmtModify":1676533752891,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007605395","repostId":"2205441860","repostType":4,"repost":{"id":"2205441860","kind":"highlight","pubTimestamp":1642808308,"share":"https://ttm.financial/m/news/2205441860?lang=en_US&edition=fundamental","pubTime":"2022-01-22 07:38","market":"us","language":"en","title":"Why I Sold These 3 High-Growth Tech Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2205441860","media":"Motley Fool","summary":"I recently sold my shares of Snap, Palantir, and Bumble. Let's explore the reasons I pulled the trigger on the sales.","content":"<div>\n<p>Rising inflation and higher interest rates have crushed many high-growth tech stocks over the past few months. The reasons are simple: Inflation reduces the value of a company's future revenue and ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/21/why-i-sold-these-3-high-growth-tech-stocks/\">Source Link</a>\n\n</div>\n","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why I Sold These 3 High-Growth Tech Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy I Sold These 3 High-Growth Tech Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-22 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/01/21/why-i-sold-these-3-high-growth-tech-stocks/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Rising inflation and higher interest rates have crushed many high-growth tech stocks over the past few months. The reasons are simple: Inflation reduces the value of a company's future revenue and ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/01/21/why-i-sold-these-3-high-growth-tech-stocks/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4515":"5G概念","SNAP":"Snap Inc","BK4559":"巴菲特持仓","MTCH":"Match Group, Inc.","BK4549":"软银资本持仓","BK4550":"红杉资本持仓","BK4507":"流媒体概念","AAPL":"苹果","BK4170":"电脑硬件、储存设备及电脑周边","BK4551":"寇图资本持仓","BMBL":"Bumble Inc.","BK4023":"应用软件","BK4508":"社交媒体","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","BK4527":"明星科技股","BK4501":"段永平概念","BK4543":"AI","BK4077":"互动媒体与服务","BK4553":"喜马拉雅资本持仓","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","PLTR":"Palantir Technologies Inc.","BK4505":"高瓴资本持仓","BK4547":"WSB热门概念"},"source_url":"https://www.fool.com/investing/2022/01/21/why-i-sold-these-3-high-growth-tech-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2205441860","content_text":"Rising inflation and higher interest rates have crushed many high-growth tech stocks over the past few months. The reasons are simple: Inflation reduces the value of a company's future revenue and earnings, while higher interest rates boost borrowing costs for unprofitable companies.Like many investors, I reduced my exposure to that shift by selling some of my higher-growth tech stocks and rotating toward more conservative investments. Specifically, I took profits from my investments in Snap (NYSE:SNAP) and Palantir (NYSE:PLTR), but I took a net loss on Bumble (NASDAQ:BMBL).Investors should do their own due diligence instead of following my example, but let me explain my logic for selling these three high-growth tech stocks.Image source: Getty Images.1. SnapSnap was once my favorite social media stock. It generated robust growth in daily active users and revenue, it remained a top app for teen users, and its profitability was gradually improving.But over the past year, several red flags appeared. It vastly underestimated the impact of Apple's privacy update on iOS, set unrealistic growth targets at its investor day last February, and failed to outshine ByteDance's TikTok with Spotlight's short videos.Snap's third-quarter numbers and fourth-quarter guidance last October strongly suggested it couldn't achieve its investor day target for 50% annual revenue growth over the next few years. But Snap didn't withdraw that guidance -- even after directly being questioned about it during its conference call -- and said it could retool its ads to overcome Apple's iOS changes.Over the past three months, Snap's insiders still sold 22 times as many shares as they bought -- even as the stock price dropped more than 50%. That lack of confidence indicates its iOS headaches won't end anytime soon.Snap might seem reasonably valued now at 10 times next year's sales, especially if it meets analysts' estimates for 60% revenue growth in 2021 and 38% growth in 2022. Unfortunately, I think Snap could continue to struggle over the next few quarters and ultimately withdraw its 50% revenue growth guidance. When that happens, the stock will likely plummet to new lows.2. PalantirPalantir, the data analytics firm which serves the U.S. government and large enterprise customers, also has ambitious growth plans. It believes it can generate at least 30% annual revenue growth from 2021 to 2025.At first glance, Palantir seems like a solid investment. The U.S. Army reportedly used its Gotham platform to hunt down Osama Bin Laden in 2011. That battle-hardened reputation enables it to promote its enterprise-facing Foundry platform to large companies. Its ability to gather data from disparate sources can help government agencies and companies make better data-driven decisions to streamline their operations.But Palantir also has some glaring problems. It's deeply unprofitable but still trades at 15 times next year's sales, which leaves it highly exposed to rising inflation and higher interest rates. It's also constantly diluting its shares with big stock bonuses -- in the first nine months of 2021, its number of weighted-average shares jumped 165% year over year.The growth of Gotham is also decelerating as the U.S. government quietly develops in-house alternatives. Enterprise customers could also gravitate toward other analytics services, such as Alteryx or Splunk, instead of its Foundry platform.Instead of sticking with this speculative and unprofitable company, it might be smarter for investors to rotate back toward firmly profitable blue-chip tech stocks which will benefit from the same data-mining tailwinds.3. BumbleAfter defending Bumble for nearly a year, I finally realized that the online dating company's weaknesses outweighed its strengths. The growth of Bumble's namesake app, which lets women make the first move, is decelerating. Its secondary app, Badoo, continues to lose paid users.Last quarter, Bumble's total number of paid users across both apps grew 20% year over year to 1.53 million, but that marked a deceleration from its 36% growth in the previous quarter. Meanwhile, Match Group's (NASDAQ:MTCH) total number of paying users, 64% of whom use Tinder, increased 16% year over year to 16.3 million in its latest quarter. The company actually accelerated from its 15% growth in the previous quarter.Bumble also remains unprofitable, and it's shouldering more than twice as much debt as its total cash and equivalents. At the same time, it's pursuing scattershot strategies -- including opening a restaurant in New York City, selling branded apparel and products through an online store, and rebooting its BFF feature (for platonic friendships) as a vaguely defined metaverse platform.Those plans probably won't widen Bumble's moat against Match's portfolio of over a dozen dating apps. After listening to its latest conference call, it became painfully clear that Bumble overestimated its own brand appeal while underestimating the competition.Bumble expects its revenue to grow 31% to 32% this fiscal year, but that's only a bit faster than Match's projected revenue growth rate of 25%. Bumble's stock might seem reasonably valued at six times next year's sales, but it probably won't command a higher premium until it stabilizes its user growth and significantly narrows its net losses. Until that happens, Match will probably be the better overall investment.","news_type":1,"symbols_score_info":{"SNAP":1,"MTCH":1,"BMBL":1,"PLTR":1,"AAPL":0.69}},"isVote":1,"tweetType":1,"viewCount":2952,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9007319531,"gmtCreate":1642772628074,"gmtModify":1676533744494,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Sell!!","listText":"Sell!!","text":"Sell!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9007319531","repostId":"1120296324","repostType":4,"repost":{"id":"1120296324","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1642769897,"share":"https://ttm.financial/m/news/1120296324?lang=en_US&edition=fundamental","pubTime":"2022-01-21 20:58","market":"us","language":"en","title":"Toplines Before US Market Open on Friday","url":"https://stock-news.laohu8.com/highlight/detail?id=1120296324","media":"Tiger Newspress","summary":"Futures tracking the Nasdaq 100 index slipped on Friday after a weak forecast from Netflix sent its ","content":"<html><head></head><body><p>Futures tracking the Nasdaq 100 index slipped on Friday after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower, with Wall Street&#39;s main indexes headed for another week of losses.</p><p>At 7:50 a.m. ET, Dow e-minis were down 109 points, or 0.31%, S&amp;P 500 e-minis were down 25.50 points, or 0.57%, and Nasdaq 100 e-minis were down 136.25 points, or 0.92%.</p><p><img src=\"https://static.tigerbbs.com/9e4338b636166c50d30bd4d53ce843b3\" tg-width=\"1080\" tg-height=\"418\" width=\"100%\" height=\"auto\"/></p><p>Netflix Inc plunged 19.8% in premarket trading after the streaming giant fell short of market forecasts for new subscribers at the end of last year and offered a downbeat outlook for early 2022.</p><p>Shares of technology and media companies including Walt Disney Co, ViacomCBS, Roku, Discovery and FuboTV that have invested heavily in streaming also fell between 1.9% and 4.6%.</p><p><b>Stocks making the biggest moves premarket:</b></p><p><b>Netflix(NFLX)</b> – Netflix plunged 19.8% in premarket trading, after predicting slower subscriber growth for this quarter than analysts were anticipating. The streaming service cited growing competition among the factors hitting its growth numbers. Netflix did report a better-than-expected profit and revenue for its latest quarter.</p><p><b>Peloton(PTON) </b>– Peloton said it is reviewing its production levels as well as the size of its workforce in response to a CNBC report that it was temporarily halting production of bikes and treadmills to deal with waning demand. Peloton bounced back 4.5% in premarket action after plunging 24% Thursday.</p><p><b>Schlumberger(SLB)</b> – The oilfield services company&#39;s stock rose 1% in the premarket after it beat top and bottom-line estimates for the fourth quarter. Schlumberger earned an adjusted 41 cents per share, 2 cents above estimates, as higher oil prices spurred demand for drilling services.</p><p><b>CSX(CSX)</b> – CSX beat estimates by 1 cent with a quarterly profit of 42 cents per share, and the railroad operator’s revenue also beat Street forecasts. CSX said sales grew across all of its business lines as customers sought to deal with supply chain challenges. However, the stock fell 1% in the premarket as the company noted a surge in expenses.</p><p><b>Intuitive Surgical(ISRG)</b> – Intuitive Surgical reported adjusted quarterly earnings of $1.30 per share, 2 cents above estimates, with the surgical equipment maker’s revenue topping estimates as well. However, the stock is being pressured after the company noted a decline in procedures using its Da Vinci surgical system. Intuitive Surgical slumped 6.2% in premarket trading.</p><p><b>PPG Industries(PPG)</b> – PPG is seeing its shares fall in premarket trading despite beating Wall Street forecasts on the top and bottom lines for its latest quarter. The paint and coatings maker is seeing demand take a hit from declining airplanes and automobiles production. The stock lost 2.9% in the premarket.</p><p><b>Intel(INTC)</b> – Intel announced plans to invest $20 billion in new manufacturing facilities outside Columbus, Ohio. The plants will produce advanced semiconductors, as chipmakers accelerate efforts to meet growing demand.</p><p><b>Rio Tinto(RIO)</b> – Rio Tinto shares lost 1.4% in premarket trading after Serbia revoked the mining company’s lithium exploration licenses, citing environmental concerns. Rio had aimed to become one of the top producers of lithium, a key component in batteries.</p><p><b>Under Armour(UAA) </b>– The athletic apparel maker&#39;s stock rose 1.9% in the premarket after Citi upgraded the stock to &#34;buy&#34; from &#34;neutral,&#34; saying Under Armour is emerging from the pandemic in a very strong position in North America.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Friday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Friday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-01-21 20:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Futures tracking the Nasdaq 100 index slipped on Friday after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower, with Wall Street&#39;s main indexes headed for another week of losses.</p><p>At 7:50 a.m. ET, Dow e-minis were down 109 points, or 0.31%, S&amp;P 500 e-minis were down 25.50 points, or 0.57%, and Nasdaq 100 e-minis were down 136.25 points, or 0.92%.</p><p><img src=\"https://static.tigerbbs.com/9e4338b636166c50d30bd4d53ce843b3\" tg-width=\"1080\" tg-height=\"418\" width=\"100%\" height=\"auto\"/></p><p>Netflix Inc plunged 19.8% in premarket trading after the streaming giant fell short of market forecasts for new subscribers at the end of last year and offered a downbeat outlook for early 2022.</p><p>Shares of technology and media companies including Walt Disney Co, ViacomCBS, Roku, Discovery and FuboTV that have invested heavily in streaming also fell between 1.9% and 4.6%.</p><p><b>Stocks making the biggest moves premarket:</b></p><p><b>Netflix(NFLX)</b> – Netflix plunged 19.8% in premarket trading, after predicting slower subscriber growth for this quarter than analysts were anticipating. The streaming service cited growing competition among the factors hitting its growth numbers. Netflix did report a better-than-expected profit and revenue for its latest quarter.</p><p><b>Peloton(PTON) </b>– Peloton said it is reviewing its production levels as well as the size of its workforce in response to a CNBC report that it was temporarily halting production of bikes and treadmills to deal with waning demand. Peloton bounced back 4.5% in premarket action after plunging 24% Thursday.</p><p><b>Schlumberger(SLB)</b> – The oilfield services company&#39;s stock rose 1% in the premarket after it beat top and bottom-line estimates for the fourth quarter. Schlumberger earned an adjusted 41 cents per share, 2 cents above estimates, as higher oil prices spurred demand for drilling services.</p><p><b>CSX(CSX)</b> – CSX beat estimates by 1 cent with a quarterly profit of 42 cents per share, and the railroad operator’s revenue also beat Street forecasts. CSX said sales grew across all of its business lines as customers sought to deal with supply chain challenges. However, the stock fell 1% in the premarket as the company noted a surge in expenses.</p><p><b>Intuitive Surgical(ISRG)</b> – Intuitive Surgical reported adjusted quarterly earnings of $1.30 per share, 2 cents above estimates, with the surgical equipment maker’s revenue topping estimates as well. However, the stock is being pressured after the company noted a decline in procedures using its Da Vinci surgical system. Intuitive Surgical slumped 6.2% in premarket trading.</p><p><b>PPG Industries(PPG)</b> – PPG is seeing its shares fall in premarket trading despite beating Wall Street forecasts on the top and bottom lines for its latest quarter. The paint and coatings maker is seeing demand take a hit from declining airplanes and automobiles production. The stock lost 2.9% in the premarket.</p><p><b>Intel(INTC)</b> – Intel announced plans to invest $20 billion in new manufacturing facilities outside Columbus, Ohio. The plants will produce advanced semiconductors, as chipmakers accelerate efforts to meet growing demand.</p><p><b>Rio Tinto(RIO)</b> – Rio Tinto shares lost 1.4% in premarket trading after Serbia revoked the mining company’s lithium exploration licenses, citing environmental concerns. Rio had aimed to become one of the top producers of lithium, a key component in batteries.</p><p><b>Under Armour(UAA) </b>– The athletic apparel maker&#39;s stock rose 1.9% in the premarket after Citi upgraded the stock to &#34;buy&#34; from &#34;neutral,&#34; saying Under Armour is emerging from the pandemic in a very strong position in North America.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PPG":"PPG工业",".IXIC":"NASDAQ Composite","ROKU":"Roku Inc","SLB":"斯伦贝谢","DIS":"迪士尼",".SPX":"S&P 500 Index","FUBO":"fuboTV Inc.","RIO":"力拓","INTC":"英特尔","CSX":"CSX运输","PTON":"Peloton Interactive, Inc.","ISRG":"直觉外科公司","DISCA":"探索传播","UAA":"安德玛公司A类股","NFLX":"奈飞",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120296324","content_text":"Futures tracking the Nasdaq 100 index slipped on Friday after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower, with Wall Street's main indexes headed for another week of losses.At 7:50 a.m. ET, Dow e-minis were down 109 points, or 0.31%, S&P 500 e-minis were down 25.50 points, or 0.57%, and Nasdaq 100 e-minis were down 136.25 points, or 0.92%.Netflix Inc plunged 19.8% in premarket trading after the streaming giant fell short of market forecasts for new subscribers at the end of last year and offered a downbeat outlook for early 2022.Shares of technology and media companies including Walt Disney Co, ViacomCBS, Roku, Discovery and FuboTV that have invested heavily in streaming also fell between 1.9% and 4.6%.Stocks making the biggest moves premarket:Netflix(NFLX) – Netflix plunged 19.8% in premarket trading, after predicting slower subscriber growth for this quarter than analysts were anticipating. The streaming service cited growing competition among the factors hitting its growth numbers. Netflix did report a better-than-expected profit and revenue for its latest quarter.Peloton(PTON) – Peloton said it is reviewing its production levels as well as the size of its workforce in response to a CNBC report that it was temporarily halting production of bikes and treadmills to deal with waning demand. Peloton bounced back 4.5% in premarket action after plunging 24% Thursday.Schlumberger(SLB) – The oilfield services company's stock rose 1% in the premarket after it beat top and bottom-line estimates for the fourth quarter. Schlumberger earned an adjusted 41 cents per share, 2 cents above estimates, as higher oil prices spurred demand for drilling services.CSX(CSX) – CSX beat estimates by 1 cent with a quarterly profit of 42 cents per share, and the railroad operator’s revenue also beat Street forecasts. CSX said sales grew across all of its business lines as customers sought to deal with supply chain challenges. However, the stock fell 1% in the premarket as the company noted a surge in expenses.Intuitive Surgical(ISRG) – Intuitive Surgical reported adjusted quarterly earnings of $1.30 per share, 2 cents above estimates, with the surgical equipment maker’s revenue topping estimates as well. However, the stock is being pressured after the company noted a decline in procedures using its Da Vinci surgical system. Intuitive Surgical slumped 6.2% in premarket trading.PPG Industries(PPG) – PPG is seeing its shares fall in premarket trading despite beating Wall Street forecasts on the top and bottom lines for its latest quarter. The paint and coatings maker is seeing demand take a hit from declining airplanes and automobiles production. The stock lost 2.9% in the premarket.Intel(INTC) – Intel announced plans to invest $20 billion in new manufacturing facilities outside Columbus, Ohio. The plants will produce advanced semiconductors, as chipmakers accelerate efforts to meet growing demand.Rio Tinto(RIO) – Rio Tinto shares lost 1.4% in premarket trading after Serbia revoked the mining company’s lithium exploration licenses, citing environmental concerns. Rio had aimed to become one of the top producers of lithium, a key component in batteries.Under Armour(UAA) – The athletic apparel maker's stock rose 1.9% in the premarket after Citi upgraded the stock to \"buy\" from \"neutral,\" saying Under Armour is emerging from the pandemic in a very strong position in North America.","news_type":1,"symbols_score_info":{"SLB":0.9,"VIAC":0.9,"ISRG":0.9,"PTON":0.9,"INTC":0.9,".DJI":0.9,"RIO":0.9,"PPG":0.9,".SPX":0.9,"DISCA":0.9,".IXIC":0.9,"FUBO":0.9,"UAA":0.9,"ESmain":0.9,"ROKU":0.9,"NQmain":0.9,"CSX":0.9,"NFLX":0.9,"DIS":0.9,"YMmain":0.9}},"isVote":1,"tweetType":1,"viewCount":2362,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9006356774,"gmtCreate":1641613214606,"gmtModify":1676533634993,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Bank stocks","listText":"Bank stocks","text":"Bank stocks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9006356774","repostId":"2201424321","repostType":4,"repost":{"id":"2201424321","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1641597180,"share":"https://ttm.financial/m/news/2201424321?lang=en_US&edition=fundamental","pubTime":"2022-01-08 07:13","market":"us","language":"en","title":"Wall St posts declines for first week of 2022; Nasdaq has worst week since Feb","url":"https://stock-news.laohu8.com/highlight/detail?id=2201424321","media":"Reuters","summary":"* U.S. nonfarm payrolls rise by 199,000 in December* GameStop jumps after report of foray into NFT, ","content":"<html><head></head><body><p>* U.S. nonfarm payrolls rise by 199,000 in December</p><p>* GameStop jumps after report of foray into NFT, crypto markets</p><p>* Indexes: Dow down 0.01%, S&amp;P 500 down 0.4%, Nasdaq down 1%</p><p>NEW YORK Jan 7 (Reuters) - Wall Street on Friday wrapped up the first week of the new year with daily and weekly losses as investors worried about looming U.S. interest-rate hikes and unfolding Omicron news.</p><p>The Nasdaq posted its biggest weekly percentage fall since February 2021 and led declines for the day in the major indexes. Stocks fell on Friday after the December U.S. jobs report missed expectations but was still seen as strong enough to keep the Federal Reserve&#39;s tightening path in place.</p><p>Friday&#39;s Labor Department data showed the U.S. jobs market was at or near maximum employment even though employment rose far less than expected in December, when there were worker shortages.</p><p>On Wednesday, minutes released of the Fed&#39;s Dec. 14-15 policy meeting showed officials at the U.S. central bank viewed the labor market as &#34;very tight,&#34; and signaled the Fed may have to raise rates sooner than expected.</p><p>&#34;The investor takeaway is that the labor market continues to be tight despite the headline miss,&#34; said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.</p><p>&#34;Investors are concerned the Fed will be more aggressive than expected.&#34;</p><p>Consumer discretionary and and technology sectors led the way lower on the S&amp;P 500 on Friday. Big tech companies have benefited from low interest rates.</p><p>On the flip side, the S&amp;P 500 financials sector and banking index extended recent gains and reached record closing highs. The bank index rose 9.4% for the week, registering its biggest weekly percentage gain since November 2020.</p><p>The Dow Jones Industrial Average fell 4.81 points, or 0.01%, to 36,231.66, the S&amp;P 500 lost 19.02 points, or 0.41%, to 4,677.03 and the Nasdaq Composite dropped 144.96 points, or 0.96%, to 14,935.90.</p><p>For the week, the Dow fell 0.3%, the S&amp;P 500 declined 1.9% and the Nasdaq dropped 4.5%.</p><p>Banks have risen with U.S. Treasury yields, with the U.S. benchmark 10-year yield soaring to a two-year high on Friday on the outlook for Fed rate hikes.</p><p>&#34;The sentiment has turned negative,&#34; said Jack Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. &#34;Right now the market is nervous and in the mood to sell at the first hint of bad news.&#34;</p><p>Rising cases on the Omicron variant of the coronavirus also caused investor jitters this week.</p><p>Investors have been rotating out technology-heavy growth shares and into more value-oriented shares, which they think may do better in a high interest-rate environment.</p><p>The S&amp;P 500 value index added 1% this week, outperforming the S&amp;P 500 growth index which fell 4.5%, its biggest weekly percentage drop since October 2020.</p><p>The S&amp;P 500 energy sector gained sharply for the week, rising 10.6% in its best week since November 2020.</p><p>&#34;Meme stock&#34; GameStop Corp jumped 7.3% after the video game retailer said it is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.01-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 50 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 83 new highs and 262 new lows.</p><p>Volume on U.S. exchanges was 10.21 billion shares, compared with the roughly 10.4 billion average for the full session over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St posts declines for first week of 2022; Nasdaq has worst week since Feb</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; 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color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall St posts declines for first week of 2022; Nasdaq has worst week since Feb\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-08 07:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* U.S. nonfarm payrolls rise by 199,000 in December</p><p>* GameStop jumps after report of foray into NFT, crypto markets</p><p>* Indexes: Dow down 0.01%, S&amp;P 500 down 0.4%, Nasdaq down 1%</p><p>NEW YORK Jan 7 (Reuters) - Wall Street on Friday wrapped up the first week of the new year with daily and weekly losses as investors worried about looming U.S. interest-rate hikes and unfolding Omicron news.</p><p>The Nasdaq posted its biggest weekly percentage fall since February 2021 and led declines for the day in the major indexes. Stocks fell on Friday after the December U.S. jobs report missed expectations but was still seen as strong enough to keep the Federal Reserve&#39;s tightening path in place.</p><p>Friday&#39;s Labor Department data showed the U.S. jobs market was at or near maximum employment even though employment rose far less than expected in December, when there were worker shortages.</p><p>On Wednesday, minutes released of the Fed&#39;s Dec. 14-15 policy meeting showed officials at the U.S. central bank viewed the labor market as &#34;very tight,&#34; and signaled the Fed may have to raise rates sooner than expected.</p><p>&#34;The investor takeaway is that the labor market continues to be tight despite the headline miss,&#34; said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.</p><p>&#34;Investors are concerned the Fed will be more aggressive than expected.&#34;</p><p>Consumer discretionary and and technology sectors led the way lower on the S&amp;P 500 on Friday. Big tech companies have benefited from low interest rates.</p><p>On the flip side, the S&amp;P 500 financials sector and banking index extended recent gains and reached record closing highs. The bank index rose 9.4% for the week, registering its biggest weekly percentage gain since November 2020.</p><p>The Dow Jones Industrial Average fell 4.81 points, or 0.01%, to 36,231.66, the S&amp;P 500 lost 19.02 points, or 0.41%, to 4,677.03 and the Nasdaq Composite dropped 144.96 points, or 0.96%, to 14,935.90.</p><p>For the week, the Dow fell 0.3%, the S&amp;P 500 declined 1.9% and the Nasdaq dropped 4.5%.</p><p>Banks have risen with U.S. Treasury yields, with the U.S. benchmark 10-year yield soaring to a two-year high on Friday on the outlook for Fed rate hikes.</p><p>&#34;The sentiment has turned negative,&#34; said Jack Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. &#34;Right now the market is nervous and in the mood to sell at the first hint of bad news.&#34;</p><p>Rising cases on the Omicron variant of the coronavirus also caused investor jitters this week.</p><p>Investors have been rotating out technology-heavy growth shares and into more value-oriented shares, which they think may do better in a high interest-rate environment.</p><p>The S&amp;P 500 value index added 1% this week, outperforming the S&amp;P 500 growth index which fell 4.5%, its biggest weekly percentage drop since October 2020.</p><p>The S&amp;P 500 energy sector gained sharply for the week, rising 10.6% in its best week since November 2020.</p><p>&#34;Meme stock&#34; GameStop Corp jumped 7.3% after the video game retailer said it is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.01-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 50 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 83 new highs and 262 new lows.</p><p>Volume on U.S. exchanges was 10.21 billion shares, compared with the roughly 10.4 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index","GME":"游戏驿站"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201424321","content_text":"* U.S. nonfarm payrolls rise by 199,000 in December* GameStop jumps after report of foray into NFT, crypto markets* Indexes: Dow down 0.01%, S&P 500 down 0.4%, Nasdaq down 1%NEW YORK Jan 7 (Reuters) - Wall Street on Friday wrapped up the first week of the new year with daily and weekly losses as investors worried about looming U.S. interest-rate hikes and unfolding Omicron news.The Nasdaq posted its biggest weekly percentage fall since February 2021 and led declines for the day in the major indexes. Stocks fell on Friday after the December U.S. jobs report missed expectations but was still seen as strong enough to keep the Federal Reserve's tightening path in place.Friday's Labor Department data showed the U.S. jobs market was at or near maximum employment even though employment rose far less than expected in December, when there were worker shortages.On Wednesday, minutes released of the Fed's Dec. 14-15 policy meeting showed officials at the U.S. central bank viewed the labor market as \"very tight,\" and signaled the Fed may have to raise rates sooner than expected.\"The investor takeaway is that the labor market continues to be tight despite the headline miss,\" said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.\"Investors are concerned the Fed will be more aggressive than expected.\"Consumer discretionary and and technology sectors led the way lower on the S&P 500 on Friday. Big tech companies have benefited from low interest rates.On the flip side, the S&P 500 financials sector and banking index extended recent gains and reached record closing highs. The bank index rose 9.4% for the week, registering its biggest weekly percentage gain since November 2020.The Dow Jones Industrial Average fell 4.81 points, or 0.01%, to 36,231.66, the S&P 500 lost 19.02 points, or 0.41%, to 4,677.03 and the Nasdaq Composite dropped 144.96 points, or 0.96%, to 14,935.90.For the week, the Dow fell 0.3%, the S&P 500 declined 1.9% and the Nasdaq dropped 4.5%.Banks have risen with U.S. Treasury yields, with the U.S. benchmark 10-year yield soaring to a two-year high on Friday on the outlook for Fed rate hikes.\"The sentiment has turned negative,\" said Jack Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. \"Right now the market is nervous and in the mood to sell at the first hint of bad news.\"Rising cases on the Omicron variant of the coronavirus also caused investor jitters this week.Investors have been rotating out technology-heavy growth shares and into more value-oriented shares, which they think may do better in a high interest-rate environment.The S&P 500 value index added 1% this week, outperforming the S&P 500 growth index which fell 4.5%, its biggest weekly percentage drop since October 2020.The S&P 500 energy sector gained sharply for the week, rising 10.6% in its best week since November 2020.\"Meme stock\" GameStop Corp jumped 7.3% after the video game retailer said it is launching a division to develop a marketplace for nonfungible tokens and establish cryptocurrency partnerships.Advancing issues outnumbered declining ones on the NYSE by a 1.01-to-1 ratio; on Nasdaq, a 1.38-to-1 ratio favored decliners.The S&P 500 posted 50 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 83 new highs and 262 new lows.Volume on U.S. exchanges was 10.21 billion shares, compared with the roughly 10.4 billion average for the full session over the last 20 trading days.","news_type":1,"symbols_score_info":{".DJI":0.9,"NQmain":1,".SPX":0.9,"GME":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1972,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001635284,"gmtCreate":1641236677677,"gmtModify":1676533585961,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001635284","repostId":"2200403714","repostType":4,"isVote":1,"tweetType":1,"viewCount":1311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9963788417,"gmtCreate":1668758904439,"gmtModify":1676538109237,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"I doubt they will continue doing so now that the stock price is recovering.","listText":"I doubt they will continue doing so now that the stock price is recovering.","text":"I doubt they will continue doing so now that the stock price is recovering.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9963788417","isVote":1,"tweetType":1,"viewCount":1669,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9946149778,"gmtCreate":1680899237195,"gmtModify":1680899242024,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Everyone only has one egg?","listText":"Everyone only has one egg?","text":"Everyone only has one egg?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9946149778","isVote":1,"tweetType":1,"viewCount":2473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9954356290,"gmtCreate":1676024418711,"gmtModify":1676024422462,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"The future","listText":"The future","text":"The future","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954356290","repostId":"2309556439","repostType":2,"repost":{"id":"2309556439","kind":"news","pubTimestamp":1675990351,"share":"https://ttm.financial/m/news/2309556439?lang=en_US&edition=fundamental","pubTime":"2023-02-10 08:52","market":"us","language":"en","title":"Microsoft Thinks AI Can Beat Google at Search — CEO Satya Nadella Explains Why","url":"https://stock-news.laohu8.com/highlight/detail?id=2309556439","media":"The Verge","summary":"AI is coming for your browser, your social media, and your operating system, too.","content":"<html><head></head><body><p>I’m coming to you from Microsoft’s campus in Redmond, where just a few hours ago, Microsoft announced that the next version of the Bing search engine would be powered by OpenAI, the company that makes ChatGPT. There’s also a new version of the Edge web browser with OpenAI chat tech in a window that can help you browse and understand web pages.</p><p>The in-depth presentation showed how OpenAI running in Bing and Edge could radically increase your productivity. They demo’d it making a travel itinerary, posting to LinkedIn, and rewriting code to work in a different programming language.</p><p>After the presentation, I was able to get some time with Microsoft CEO Satya Nadella. Nadella has been very bullish on AI. He’s previously talked about AI as the next major computing platform. I wanted to talk about this next step in AI, the partnership with OpenAI, and why he thought now was the best time to go after Google search.</p><p>This is a short interview, but it’s a good one. Okay, Satya Nadella, CEO of Microsoft. Here we go.</p><p><b>Satya Nadella, you are the CEO of Microsoft. Thank you for coming on</b><b><i>Decoder</i></b><b>today.</b></p><p>Thank you so much for having me.</p><p><b>Microsoft just announced a huge new version of Bing powered by OpenAI technology. A couple of weeks ago, the company made what was called a multibillion-dollar, multiyear investment in OpenAI. Tell us what’s going on.</b></p><p>Well, today’s announcement is all about rethinking the largest software category there is, search, with this new generation of AI because it’s a platform shift, and you get to reimagine pretty much everything, starting with the core ranking. In fact, perhaps the most salient part of today’s announcement is that we’ve had the best gain in relevance in the core ranking using some of these large models. Second, it’s not just a search engine; it’s an answer engine — because we’ve always had answers, but with these large models, the fidelity of the answers just gets so much better.</p><p>And then we’ve incorporated chat right into search, and that chat is grounded in search data. So you can do a natural language prompt or a query, which is long, you get a great answer, and then you can engage in a conversation with the prompt as the grounding or the context. So it’s about basically bringing in a more sophisticated, larger, next-generation model compared to ChatGPT and grounding it in search data.</p><p>The other last thing we showed off was a copilot for the web. In Edge, you can look at any website or any document on a website, like a 10-Q, for example, and then do things like summarization. So a whole lot of these features all came together essentially as the new Bing.</p><p><b>A really interesting piece of the puzzle here is that a lot of what you described is powered by OpenAI and OpenAI’s technology. OpenAI CEO Sam Altman was onstage with you today. You have worked with OpenAI for three years, but you haven’t acquired them. Instead, you made a huge investment in them. Why work with an outside technology vendor for the largest software category in the world?</b></p><p>First of all, you have to remember the relationship with OpenAI and our cooperation with OpenAI has many facets. The most important thing is what we’ve done over the last four years to actually build out the core infrastructure on which OpenAI is built: these large models, the training infrastructure — and the infrastructure doesn’t look like regular cloud infrastructure. We had to evolve Azure to have specialized AI infrastructure on which OpenAI is built. And by the way, Inception and Character.ai are also using Azure. There will be many others who will use Azure infrastructure. So we are very excited about that part. And then, of course, we get to incorporate these large models inside of our products and make those large models available as Azure AI. And in all of this, we have both an investment return and a commercial return. And so we think we are well placed to partner. I will never assume that great partnerships can’t have great returns for our customers, shareholders, and Microsoft.</p><p><b>There was a lot of talk in the presentation about the values that are coming into Bing, about the safety work that’s being done, about the responsible AI work that Microsoft has done for years. How do you make sure that bridges the gap to OpenAI, which is not your company but is obviously tied very closely to it? And how do you make sure that your products inherit all of those values even when you’re working with an outside company?</b></p><p>First of all, OpenAI cares about safety. In some sense, their entire inception was about how to think about safety and alignment in AI. And so, we share that. We’ve had our principles — as we talked about today, Nilay — since 2016. We’ve published the principles. And ever since, quite frankly, we’ve been very focused on the hard work of incorporating them into our engineering when we build products, starting with design. One of the things I think a lot about is, when you have a new model coming, it’s probably most important to put humans in the loop — versus designing the human out — so that you can, in fact, ensure that the human agency and judgment is what you use to train the model to be aligned with human feedback. So that’s what we are doing.</p><p>When I look at even what we are doing in Bing, we’re taking it one step further to ground AI in the context of search. So I always say, “Look, these generator models just don’t randomly generate stuff. You prompted it.” So there’s a whole lot you can do in the meta prompt and the sequence of prompts you generate, which we can assist with. So, there are a lot of, I call it, product design choices one gets to make when you think about AI and AI safety. Then, let’s come at it the other way. You have to take real care of the pretrained data because models are trained on pretrained data. What’s the quality, the provenance of that pretrained data? That’s a place where we’ve done a lot of work.</p><p>Second, then the safety around the model. Ad runtime. We have lots of classifiers around harmful content or bias, which we then catch. And then, of course, the takedown. Ultimately, in the application layer, you also have more of the safety net for it. So this is all going to come down to, I would call it, the everyday engineering practice. And guess what? Search is like that. Search is an AI product. It is interesting that we are now talking about a new algorithmic breakthrough in these large models, but we’ve had AI models for decades now, and we’ve really built our sense of what is authoritative, how to detect [what is] authoritative, how to ensure harmful content doesn’t get through. And those are all practices that’ll now be used.</p><p><b>That leads me to the value exchange of search right now. In a traditional search model, I ask Bing a question; it might return some snippet, but it usually returns a list of links. If I go visit a webpage, the creator of that webpage might capture some advertising revenue or something else. Now, you’re just answering the question directly. And you’ve trained the model on other people’s information, other people’s reporting, and being biased in favor of reporting. How do you make sure that they get the value back?</b></p><p>It’s very important. In fact, it’s one of the biggest things that is different about the way we have done the design. I would really encourage people to go look at it. … Look, at the end of the day, search is about fair use. Ultimately, we only get to use [all of this content] inside of a search engine if we’re generating traffic for the people who create it. And so, that’s why, if you look at whether it’s in the answer, whether it’s in chat, these are just a different way to represent the 10 blue links more in the context of what the user wants. So the core measure, even what SEO looks like, if anything, that’ll be the thing in the next multiple years [that] we’ll all learn. Perhaps there will be new incentives in SEO to even generate more authoritative content that then gets in. So overall, everything you saw there had annotations. Everything was linkable, and that’ll be the goal — whether it’s inside a search, in the answer, or even in the chat session.</p><p><b>But if I ask the new Bing what the 10 best gaming TVs are, and it just makes me a list, why should I, the user, then click on the</b> <b>link to</b> <b><i>The Verge</i></b><b>, which has another list of the 10 best gaming TVs?</b></p><p>Well, that’s a great question. But even there, you will say, “Hey, where did these things come from?” And would you want to go dig in? Even search today has that. We have answers. They may not be as high quality of answers. They are just getting better. So, I don’t think of this as a complete departure from what is expected of a search engine today, which is supposed to really respond to your query while giving users the links that they can then click on, like ads. And search works that way.</p><p><b>The reason I ask this is… obviously when you say you’re taking on the larger software category in the world of search, there’s a dominant player in Google. If Google stops sending as much traffic from its search engine results page to publishers, to creators, to other websites, regulators around the world would freak out because they have a dominant market share. Bing does not have a dominant market share. When you evaluate the risks, both IP, legal risks, regulatory risks, you say, “Well, look, we don’t have the share. We can take a step forward in how we present these results in a way that our competitor cannot.”</b></p><p>That’s not how I come at it.</p><p><b>I’m just curious.</b></p><p>Yeah, I come at it primarily on… today, if you look at the search category, it’s great. It works 50 percent of the time. It doesn’t work for the other 50 percent of the time. So I think what I really want to do is to go back and say, “Look, is there some new powerful technology that can make search a better product without fundamentally changing how search gets permission to even exist as a product, which is other people’s content organized in useful ways so that users can find them.” To me, that is the category. And so, we will live and die by our ability to help publishers get their content to be seen by more people.</p><p>Up to now, you’re absolutely right. Google has dominated this market by a significant margin. We hope, in fact, if anything, having two or multiple search engines — there’s not just us, there’ll be other competitors — that by having more evenly spread search share, it will only help publishers get traffic from multiple sources. And by the way, advertisers [will get] better pricing. And so publishers will make more money, advertisers will make more money, and users will have great innovation. Think about what a great day it’ll be.</p><p><b>I am eager for there to be more competition in search. What I’m curious about is this: if more and more people are producing more and more AI content and that becomes the base layer that you’re training against. So, if instead of me writing a story about the Chinese spy balloon, I asked Bing to write such a story, and that gets fed back into Bing, eventually, the amount of original content in the ecosystem begins to wither. Is that a feedback loop that you’re worried about?</b></p><p>Absolutely. But the way I look at it is what people talk about. My daughter sent me this unbelievable example the other day. She’s taking some French lit class, and she said, “Hey, I was using this AI tool to summarize what I was writing, and it took me two hours” — because she was doing meta prompts and prompts and learned more about that text than ever before. And so, I feel like, let’s give ourselves a little permission to think about what is original content. Because, as I said, AI doesn’t just generate it. You prompted it. You have a draft, which you edit. Today, I would be unemployable but for the red squiggly in Microsoft Word — because that’s what helps me write anything.</p><p>So, I think we’ve used and evolved to use new tools. I think of it that way. I think, yes, some of the drudgery of knowledge work may go away, but that doesn’t mean I won’t enjoy it. In fact, the best place, Nilay, I feel, is in GitHub Copilot. It’s not like suddenly you are not coding. If anything, you are more in the flow of coding with some of these prompts. You read more code, you accept more code. So I think it’s just a different way for us to perhaps enjoy our knowledge work more.</p><p><b>That brings us to the second product, which is the copilot inside of the Edge browser. If you look at Bing, you have an opportunity now to capture market share from Google. If you look at Edge, you have an opportunity to capture market share from Chrome, potentially Safari if you go to the iPhone. Is that how you’re seeing this? This is an inflection point, you have a new technology, you have a lead with this partnership with OpenAI, and it’s creating an opportunity for you to go take share? Or is it that you’re expanding the category, and you think you can initiate new users anyway?</b></p><p>I always start not from zero sum, but I look at it and say, “Hey, how does the category expand? How can we participate in that expansion?” That is, I think, the foundational level. But at the same time, there will be places where the dominant browser is Chrome. Forget anywhere else, on Windows, Google makes more money than all of Microsoft. So let’s start there. So there’s a huge opportunity for us if we got some additional share, whether for our browser or our search engine. And so, that’s how I look at it: let’s build first a product that is competitive in the marketplace that’s actually serving user needs, and like all things, Nilay, I’m not a one-platform guy. I grew up in a Microsoft that–</p><p><b>This is your big change in Microsoft, your leadership–</b></p><p>It’s the Microsoft that I grew up in. Because I always remember that Microsoft Office was on the Mac before even Windows. So that’s the Microsoft that I learned from. And I’ll always make sure that our software is everywhere where users want it.</p><p><b>It’s been a relative period of calm between Microsoft and Google. There was a previous period of, I would say, antipathy, or more open antipathy. Recently, you’ve partnered on things like Android on some of your hardware. I think Microsoft 365 on Chromebooks is a partnership that was recently announced. Do you expect this new head-on competition against their most important product to change that relationship?</b></p><p>Google is the 800-pound gorilla in search. I want people to know that we made them dance.</p><p>First of all, look, I have the greatest of admirations for Google and what they’ve done. They’re an unbelievable company with great talent, and I have a lot of respect for Sundar [Pichai] and his team. So therefore, I just want us to innovate. We competed today. Today was a day where we brought some more competition to search. Believe me, I’ve been at it for 20 years, and I’ve been waiting for it. But look, at the end of the day, they’re the 800-pound gorilla in this. That is what they are. And I hope that, with our innovation, they will definitely want to come out and show that they can dance. And I want people to know that we made them dance, and I think that’ll be a great day.</p><p><b>What was the moment in the development of the product where you said, “Okay, it’s ready. We should announce it like this” — with a pretty direct shot at the 800-pound gorilla? Was there a light switch that flipped for you? Was it a committee decision? How’d that work?</b></p><p>So when I first saw this new model… because the model that you saw today is the next-generation model–</p><p><b>Is it GPT-4?</b></p><p>Let Sam [Altman, OpenAI CEO], at the right time, talk about his numbers.</p><p><b>Okay.</b></p><p>So, it is the next-generation model, and it’s been done. We called it the Prometheus model because, as I said, we’ve done a lot to the model to ground it in search. So the search use case is pretty unique, and so, we needed to ground it in that as well. So when I first saw the raw model back in the summer of, I would say, 2022, that’s where I thought that this is a game-changer in terms of the search category, aside from everything else that I’m excited about, because I do care about Azure having these APIs even.</p><p>So we’ve been at it. In fact, I’ll never forget my first query I did on the model, which, I think for me, growing up, I always felt, if only I could read Rumi translated into Urdu translated into English, that is my dream. I just put that in as one long query, and it was magical to see it generated. And I said, “Man, this is different.” I could have programmed it, done some multi–</p><p><b>That was your first query?</b></p><p>That was the query that changed–</p><p><b>You are one of the classiest people I’ve ever met in my entire life. That’s a very complicated–</b></p><p>Poetry is great, man.</p><p><b>I buy it. My first query was like, “Are you alive?” So that’s where I would’ve gone. So, you run this query to translate this poem across two languages. And you receive the response, and you think, “Okay, this is a product with revenue possibility, or this is a product with market share possibility.”</b></p><p>Yeah. Like all things, one of the things that I think about is, in platform shifts, two things have to happen. You have to retool pretty much every product of yours, so you’ve got to rethink it, whether that’s the way you build it or what its core features are. It’s like how Microsoft had to pivot for the cloud to rethink exchange. It was not an exchange server. It was exchange as a service or what we had to do with our server infrastructure. We had to rebuild, essentially, a new core stack in Azure. So every time, with transitions, you have to essentially rewrite it. That’s how I think about it. The second thing is you also have to think about the business model. Sometimes these transitions are pretty harsh. I’ll tell you, the last transition from having the high share server business with great gross margins to saying, “Hey, the new business is called cloud, and it’s going to have one-fourth the margins” as the new news was pretty harsh, but we made it.</p><p>“Every day, I just want a few [more] users.”</p><p>Whereas in here, I look at this, there are two things. One is it’s absolutely new tech, but it builds on cloud. So that’s one place where we already have relevance, and so, there is the next generation of cloud. And second, in search, the economics are interesting, which is that we already have a profitable business but with very little share. And so, every day, I just want a few users and a little bit more gross margin. So, yeah, I did see, I think, a tremendous opportunity for us to make some real progress here.</p><p><b>So the model right now is an $11 billion a year revenue business, something like that?</b></p><p>Something like that. I think Amy [Hood, Microsoft CFO] is going to talk about — I don’t know how she wants to talk about it. Yeah.</p><p><b>Incredible hobby. I wish I had an $11 billion a year hobby. You want to grow that into a real business. You want to take market share. But obviously, the new technology does not have the same cost structure as the old search query. I’m sure that whatever you’re doing with OpenAI, it’s more compute-intensive, and then obviously you have a partner sitting in the middle of it. And then the monetization model is still search ads. It’s direct response search ads. But as you bring more and more content on the screen, that model might change or the price of those ads might change.</b></p><p>It’s so wonderful. Think about what you just said. You said, “Okay, here is the largest software category where we have the smallest share,” and what you just painted out is an unbelievable picture of incremental gross margin. If [former Microsoft CEO] Steve Ballmer saw that, he would’ve lit up and said, “Oh my God.” Very few times in history do opportunities like that show up where you suddenly can start a new race with a base where every day is incremental gross margin for you and someone else has to play to protect it all: every user and all the gross margin.</p><p><b>So, I want to wrap up with two questions here. One, I just want to come back to this. I think you are going to face a lot of scrutiny from publishers, creators, other website owners saying, “Hey, that is our training data.” You are already seeing it. Getty is suing a handful of the image-generation AI companies saying, “Hey, you’re generating results with our watermark in it. This is obviously ours.” So I’m curious if you have a view of the potential IP risk on the downside, or on the positive side, of how to grow and keep the ecosystem vibrant.</b></p><p>On the search side, I’m very, very clear. The search category is about fair use so that we can generate traffic back to publishers. We want to stay very–</p><p><b>And is that a KPI where you’re keeping track of traffic you’re sending out?</b></p><p>100 percent. That’s the only way we are going to be... Our bots are not going to be allowed to crawl search if we are not driving traffic. So therefore, that, I think, is the core of the category. In other places, again, it’ll have to be really thought through as to what is the fair use. And then sometimes, I think there’ll be some legal cases that will also have to create precedent. But at the end of the day, I don’t think any of this can be done without a framework of law that governs it and, ultimately, financial incentives that benefit. If anything, I look at this and say, “God, is this something where the fact that there’s going to be more competition can really help publishers get more monetization, advertisers get better returns for their investment, and users have more choice?”</p><p><b>All right. I want to end with what I think is the most important question. You have described a transformational moment in the largest software category in the world. You’ve said it. Obviously, there’s a moment of increased competition against the dominant player. What was it like in the room when you decided to stick with the Bing brand? There had to have been a slide with 50 options. It’s Microsoft; I’m assuming there’s some passionate back-and-forth debate. Eventually someone decides. Was it you who decided?</b></p><p>Yeah. We wanted to call it Azure Search 2023–</p><p><b>Xbox Live Search.</b></p><p>Or bring back Clippy. Yeah, yeah. No, look, interestingly enough, it was not much of a discussion. Because we felt, look, we love Bing. We have been at it. I was there the day of the Bing launch. I worked on it.</p><p><b>But it has a lot of baggage as a brand.</b></p><p>Yeah. It’s like, look, brands can be rebuilt as long as there’s innovation. I think the brands are only as good as the product and as good as the innovation, and so, we’re going to go work it.</p><p><b>And that was your choice.</b></p><p>Absolutely.</p><p><b>All right. Well, Satya, thank you so much for talking today. It was really exciting to see all the new stuff. I’m eager to see how it grows in the future.</b></p><p>Thank you so much, Nilay.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Microsoft Thinks AI Can Beat Google at Search — CEO Satya Nadella Explains Why</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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There’s also a new version of the Edge web browser with OpenAI chat tech in a window that can help you browse and understand web pages.The in-depth presentation showed how OpenAI running in Bing and Edge could radically increase your productivity. They demo’d it making a travel itinerary, posting to LinkedIn, and rewriting code to work in a different programming language.After the presentation, I was able to get some time with Microsoft CEO Satya Nadella. Nadella has been very bullish on AI. He’s previously talked about AI as the next major computing platform. I wanted to talk about this next step in AI, the partnership with OpenAI, and why he thought now was the best time to go after Google search.This is a short interview, but it’s a good one. Okay, Satya Nadella, CEO of Microsoft. Here we go.Satya Nadella, you are the CEO of Microsoft. Thank you for coming onDecodertoday.Thank you so much for having me.Microsoft just announced a huge new version of Bing powered by OpenAI technology. A couple of weeks ago, the company made what was called a multibillion-dollar, multiyear investment in OpenAI. Tell us what’s going on.Well, today’s announcement is all about rethinking the largest software category there is, search, with this new generation of AI because it’s a platform shift, and you get to reimagine pretty much everything, starting with the core ranking. In fact, perhaps the most salient part of today’s announcement is that we’ve had the best gain in relevance in the core ranking using some of these large models. Second, it’s not just a search engine; it’s an answer engine — because we’ve always had answers, but with these large models, the fidelity of the answers just gets so much better.And then we’ve incorporated chat right into search, and that chat is grounded in search data. So you can do a natural language prompt or a query, which is long, you get a great answer, and then you can engage in a conversation with the prompt as the grounding or the context. So it’s about basically bringing in a more sophisticated, larger, next-generation model compared to ChatGPT and grounding it in search data.The other last thing we showed off was a copilot for the web. In Edge, you can look at any website or any document on a website, like a 10-Q, for example, and then do things like summarization. So a whole lot of these features all came together essentially as the new Bing.A really interesting piece of the puzzle here is that a lot of what you described is powered by OpenAI and OpenAI’s technology. OpenAI CEO Sam Altman was onstage with you today. You have worked with OpenAI for three years, but you haven’t acquired them. Instead, you made a huge investment in them. Why work with an outside technology vendor for the largest software category in the world?First of all, you have to remember the relationship with OpenAI and our cooperation with OpenAI has many facets. The most important thing is what we’ve done over the last four years to actually build out the core infrastructure on which OpenAI is built: these large models, the training infrastructure — and the infrastructure doesn’t look like regular cloud infrastructure. We had to evolve Azure to have specialized AI infrastructure on which OpenAI is built. And by the way, Inception and Character.ai are also using Azure. There will be many others who will use Azure infrastructure. So we are very excited about that part. And then, of course, we get to incorporate these large models inside of our products and make those large models available as Azure AI. And in all of this, we have both an investment return and a commercial return. And so we think we are well placed to partner. I will never assume that great partnerships can’t have great returns for our customers, shareholders, and Microsoft.There was a lot of talk in the presentation about the values that are coming into Bing, about the safety work that’s being done, about the responsible AI work that Microsoft has done for years. How do you make sure that bridges the gap to OpenAI, which is not your company but is obviously tied very closely to it? And how do you make sure that your products inherit all of those values even when you’re working with an outside company?First of all, OpenAI cares about safety. In some sense, their entire inception was about how to think about safety and alignment in AI. And so, we share that. We’ve had our principles — as we talked about today, Nilay — since 2016. We’ve published the principles. And ever since, quite frankly, we’ve been very focused on the hard work of incorporating them into our engineering when we build products, starting with design. One of the things I think a lot about is, when you have a new model coming, it’s probably most important to put humans in the loop — versus designing the human out — so that you can, in fact, ensure that the human agency and judgment is what you use to train the model to be aligned with human feedback. So that’s what we are doing.When I look at even what we are doing in Bing, we’re taking it one step further to ground AI in the context of search. So I always say, “Look, these generator models just don’t randomly generate stuff. You prompted it.” So there’s a whole lot you can do in the meta prompt and the sequence of prompts you generate, which we can assist with. So, there are a lot of, I call it, product design choices one gets to make when you think about AI and AI safety. Then, let’s come at it the other way. You have to take real care of the pretrained data because models are trained on pretrained data. What’s the quality, the provenance of that pretrained data? That’s a place where we’ve done a lot of work.Second, then the safety around the model. Ad runtime. We have lots of classifiers around harmful content or bias, which we then catch. And then, of course, the takedown. Ultimately, in the application layer, you also have more of the safety net for it. So this is all going to come down to, I would call it, the everyday engineering practice. And guess what? Search is like that. Search is an AI product. It is interesting that we are now talking about a new algorithmic breakthrough in these large models, but we’ve had AI models for decades now, and we’ve really built our sense of what is authoritative, how to detect [what is] authoritative, how to ensure harmful content doesn’t get through. And those are all practices that’ll now be used.That leads me to the value exchange of search right now. In a traditional search model, I ask Bing a question; it might return some snippet, but it usually returns a list of links. If I go visit a webpage, the creator of that webpage might capture some advertising revenue or something else. Now, you’re just answering the question directly. And you’ve trained the model on other people’s information, other people’s reporting, and being biased in favor of reporting. How do you make sure that they get the value back?It’s very important. In fact, it’s one of the biggest things that is different about the way we have done the design. I would really encourage people to go look at it. … Look, at the end of the day, search is about fair use. Ultimately, we only get to use [all of this content] inside of a search engine if we’re generating traffic for the people who create it. And so, that’s why, if you look at whether it’s in the answer, whether it’s in chat, these are just a different way to represent the 10 blue links more in the context of what the user wants. So the core measure, even what SEO looks like, if anything, that’ll be the thing in the next multiple years [that] we’ll all learn. Perhaps there will be new incentives in SEO to even generate more authoritative content that then gets in. So overall, everything you saw there had annotations. Everything was linkable, and that’ll be the goal — whether it’s inside a search, in the answer, or even in the chat session.But if I ask the new Bing what the 10 best gaming TVs are, and it just makes me a list, why should I, the user, then click on the link to The Verge, which has another list of the 10 best gaming TVs?Well, that’s a great question. But even there, you will say, “Hey, where did these things come from?” And would you want to go dig in? Even search today has that. We have answers. They may not be as high quality of answers. They are just getting better. So, I don’t think of this as a complete departure from what is expected of a search engine today, which is supposed to really respond to your query while giving users the links that they can then click on, like ads. And search works that way.The reason I ask this is… obviously when you say you’re taking on the larger software category in the world of search, there’s a dominant player in Google. If Google stops sending as much traffic from its search engine results page to publishers, to creators, to other websites, regulators around the world would freak out because they have a dominant market share. Bing does not have a dominant market share. When you evaluate the risks, both IP, legal risks, regulatory risks, you say, “Well, look, we don’t have the share. We can take a step forward in how we present these results in a way that our competitor cannot.”That’s not how I come at it.I’m just curious.Yeah, I come at it primarily on… today, if you look at the search category, it’s great. It works 50 percent of the time. It doesn’t work for the other 50 percent of the time. So I think what I really want to do is to go back and say, “Look, is there some new powerful technology that can make search a better product without fundamentally changing how search gets permission to even exist as a product, which is other people’s content organized in useful ways so that users can find them.” To me, that is the category. And so, we will live and die by our ability to help publishers get their content to be seen by more people.Up to now, you’re absolutely right. Google has dominated this market by a significant margin. We hope, in fact, if anything, having two or multiple search engines — there’s not just us, there’ll be other competitors — that by having more evenly spread search share, it will only help publishers get traffic from multiple sources. And by the way, advertisers [will get] better pricing. And so publishers will make more money, advertisers will make more money, and users will have great innovation. Think about what a great day it’ll be.I am eager for there to be more competition in search. What I’m curious about is this: if more and more people are producing more and more AI content and that becomes the base layer that you’re training against. So, if instead of me writing a story about the Chinese spy balloon, I asked Bing to write such a story, and that gets fed back into Bing, eventually, the amount of original content in the ecosystem begins to wither. Is that a feedback loop that you’re worried about?Absolutely. But the way I look at it is what people talk about. My daughter sent me this unbelievable example the other day. She’s taking some French lit class, and she said, “Hey, I was using this AI tool to summarize what I was writing, and it took me two hours” — because she was doing meta prompts and prompts and learned more about that text than ever before. And so, I feel like, let’s give ourselves a little permission to think about what is original content. Because, as I said, AI doesn’t just generate it. You prompted it. You have a draft, which you edit. Today, I would be unemployable but for the red squiggly in Microsoft Word — because that’s what helps me write anything.So, I think we’ve used and evolved to use new tools. I think of it that way. I think, yes, some of the drudgery of knowledge work may go away, but that doesn’t mean I won’t enjoy it. In fact, the best place, Nilay, I feel, is in GitHub Copilot. It’s not like suddenly you are not coding. If anything, you are more in the flow of coding with some of these prompts. You read more code, you accept more code. So I think it’s just a different way for us to perhaps enjoy our knowledge work more.That brings us to the second product, which is the copilot inside of the Edge browser. If you look at Bing, you have an opportunity now to capture market share from Google. If you look at Edge, you have an opportunity to capture market share from Chrome, potentially Safari if you go to the iPhone. Is that how you’re seeing this? This is an inflection point, you have a new technology, you have a lead with this partnership with OpenAI, and it’s creating an opportunity for you to go take share? Or is it that you’re expanding the category, and you think you can initiate new users anyway?I always start not from zero sum, but I look at it and say, “Hey, how does the category expand? How can we participate in that expansion?” That is, I think, the foundational level. But at the same time, there will be places where the dominant browser is Chrome. Forget anywhere else, on Windows, Google makes more money than all of Microsoft. So let’s start there. So there’s a huge opportunity for us if we got some additional share, whether for our browser or our search engine. And so, that’s how I look at it: let’s build first a product that is competitive in the marketplace that’s actually serving user needs, and like all things, Nilay, I’m not a one-platform guy. I grew up in a Microsoft that–This is your big change in Microsoft, your leadership–It’s the Microsoft that I grew up in. Because I always remember that Microsoft Office was on the Mac before even Windows. So that’s the Microsoft that I learned from. And I’ll always make sure that our software is everywhere where users want it.It’s been a relative period of calm between Microsoft and Google. There was a previous period of, I would say, antipathy, or more open antipathy. Recently, you’ve partnered on things like Android on some of your hardware. I think Microsoft 365 on Chromebooks is a partnership that was recently announced. Do you expect this new head-on competition against their most important product to change that relationship?Google is the 800-pound gorilla in search. I want people to know that we made them dance.First of all, look, I have the greatest of admirations for Google and what they’ve done. They’re an unbelievable company with great talent, and I have a lot of respect for Sundar [Pichai] and his team. So therefore, I just want us to innovate. We competed today. Today was a day where we brought some more competition to search. Believe me, I’ve been at it for 20 years, and I’ve been waiting for it. But look, at the end of the day, they’re the 800-pound gorilla in this. That is what they are. And I hope that, with our innovation, they will definitely want to come out and show that they can dance. And I want people to know that we made them dance, and I think that’ll be a great day.What was the moment in the development of the product where you said, “Okay, it’s ready. We should announce it like this” — with a pretty direct shot at the 800-pound gorilla? Was there a light switch that flipped for you? Was it a committee decision? How’d that work?So when I first saw this new model… because the model that you saw today is the next-generation model–Is it GPT-4?Let Sam [Altman, OpenAI CEO], at the right time, talk about his numbers.Okay.So, it is the next-generation model, and it’s been done. We called it the Prometheus model because, as I said, we’ve done a lot to the model to ground it in search. So the search use case is pretty unique, and so, we needed to ground it in that as well. So when I first saw the raw model back in the summer of, I would say, 2022, that’s where I thought that this is a game-changer in terms of the search category, aside from everything else that I’m excited about, because I do care about Azure having these APIs even.So we’ve been at it. In fact, I’ll never forget my first query I did on the model, which, I think for me, growing up, I always felt, if only I could read Rumi translated into Urdu translated into English, that is my dream. I just put that in as one long query, and it was magical to see it generated. And I said, “Man, this is different.” I could have programmed it, done some multi–That was your first query?That was the query that changed–You are one of the classiest people I’ve ever met in my entire life. That’s a very complicated–Poetry is great, man.I buy it. My first query was like, “Are you alive?” So that’s where I would’ve gone. So, you run this query to translate this poem across two languages. And you receive the response, and you think, “Okay, this is a product with revenue possibility, or this is a product with market share possibility.”Yeah. Like all things, one of the things that I think about is, in platform shifts, two things have to happen. You have to retool pretty much every product of yours, so you’ve got to rethink it, whether that’s the way you build it or what its core features are. It’s like how Microsoft had to pivot for the cloud to rethink exchange. It was not an exchange server. It was exchange as a service or what we had to do with our server infrastructure. We had to rebuild, essentially, a new core stack in Azure. So every time, with transitions, you have to essentially rewrite it. That’s how I think about it. The second thing is you also have to think about the business model. Sometimes these transitions are pretty harsh. I’ll tell you, the last transition from having the high share server business with great gross margins to saying, “Hey, the new business is called cloud, and it’s going to have one-fourth the margins” as the new news was pretty harsh, but we made it.“Every day, I just want a few [more] users.”Whereas in here, I look at this, there are two things. One is it’s absolutely new tech, but it builds on cloud. So that’s one place where we already have relevance, and so, there is the next generation of cloud. And second, in search, the economics are interesting, which is that we already have a profitable business but with very little share. And so, every day, I just want a few users and a little bit more gross margin. So, yeah, I did see, I think, a tremendous opportunity for us to make some real progress here.So the model right now is an $11 billion a year revenue business, something like that?Something like that. I think Amy [Hood, Microsoft CFO] is going to talk about — I don’t know how she wants to talk about it. Yeah.Incredible hobby. I wish I had an $11 billion a year hobby. You want to grow that into a real business. You want to take market share. But obviously, the new technology does not have the same cost structure as the old search query. I’m sure that whatever you’re doing with OpenAI, it’s more compute-intensive, and then obviously you have a partner sitting in the middle of it. And then the monetization model is still search ads. It’s direct response search ads. But as you bring more and more content on the screen, that model might change or the price of those ads might change.It’s so wonderful. Think about what you just said. You said, “Okay, here is the largest software category where we have the smallest share,” and what you just painted out is an unbelievable picture of incremental gross margin. If [former Microsoft CEO] Steve Ballmer saw that, he would’ve lit up and said, “Oh my God.” Very few times in history do opportunities like that show up where you suddenly can start a new race with a base where every day is incremental gross margin for you and someone else has to play to protect it all: every user and all the gross margin.So, I want to wrap up with two questions here. One, I just want to come back to this. I think you are going to face a lot of scrutiny from publishers, creators, other website owners saying, “Hey, that is our training data.” You are already seeing it. Getty is suing a handful of the image-generation AI companies saying, “Hey, you’re generating results with our watermark in it. This is obviously ours.” So I’m curious if you have a view of the potential IP risk on the downside, or on the positive side, of how to grow and keep the ecosystem vibrant.On the search side, I’m very, very clear. The search category is about fair use so that we can generate traffic back to publishers. We want to stay very–And is that a KPI where you’re keeping track of traffic you’re sending out?100 percent. That’s the only way we are going to be... Our bots are not going to be allowed to crawl search if we are not driving traffic. So therefore, that, I think, is the core of the category. In other places, again, it’ll have to be really thought through as to what is the fair use. And then sometimes, I think there’ll be some legal cases that will also have to create precedent. But at the end of the day, I don’t think any of this can be done without a framework of law that governs it and, ultimately, financial incentives that benefit. If anything, I look at this and say, “God, is this something where the fact that there’s going to be more competition can really help publishers get more monetization, advertisers get better returns for their investment, and users have more choice?”All right. I want to end with what I think is the most important question. You have described a transformational moment in the largest software category in the world. You’ve said it. Obviously, there’s a moment of increased competition against the dominant player. What was it like in the room when you decided to stick with the Bing brand? There had to have been a slide with 50 options. It’s Microsoft; I’m assuming there’s some passionate back-and-forth debate. Eventually someone decides. Was it you who decided?Yeah. We wanted to call it Azure Search 2023–Xbox Live Search.Or bring back Clippy. Yeah, yeah. No, look, interestingly enough, it was not much of a discussion. Because we felt, look, we love Bing. We have been at it. I was there the day of the Bing launch. I worked on it.But it has a lot of baggage as a brand.Yeah. It’s like, look, brands can be rebuilt as long as there’s innovation. I think the brands are only as good as the product and as good as the innovation, and so, we’re going to go work it.And that was your choice.Absolutely.All right. Well, Satya, thank you so much for talking today. It was really exciting to see all the new stuff. I’m eager to see how it grows in the future.Thank you so much, Nilay.","news_type":1,"symbols_score_info":{"GOOG":0.9,"MSFT":0.9,"GOOGL":0.9}},"isVote":1,"tweetType":1,"viewCount":1750,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317888179548384,"gmtCreate":1718647906924,"gmtModify":1718647911260,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/OPT/COIN 20240621 235.0 PUT\">$COIN 20240621 235.0 PUT$</a>&nbsp;","listText":"<a href=\"https://ttm.financial/OPT/COIN 20240621 235.0 PUT\">$COIN 20240621 235.0 PUT$</a>&nbsp;","text":"$COIN 20240621 235.0 PUT$","images":[{"img":"https://community-static.tradeup.com/news/8f9420ec9154bf9f70a51b3cbc794edf","width":"1290","height":"2268"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317888179548384","isVote":1,"tweetType":1,"viewCount":2391,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":373184479,"gmtCreate":1618831948691,"gmtModify":1704715502935,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"LnC pls","listText":"LnC pls","text":"LnC pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/373184479","repostId":"2128525488","repostType":4,"repost":{"id":"2128525488","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1618802400,"share":"https://ttm.financial/m/news/2128525488?lang=en_US&edition=fundamental","pubTime":"2021-04-19 11:20","market":"hk","language":"en","title":"Stocks are at all-time highs and the U.S. economy is booming. So why is everyone so nervous?","url":"https://stock-news.laohu8.com/highlight/detail?id=2128525488","media":"Dow Jones","summary":"Clients say 'markets don't feel right,' one markets research analyst notes\n\nPeter Andersen, a Boston","content":"<blockquote>\n Clients say 'markets don't feel right,' <a href=\"https://laohu8.com/S/AONE\">one</a> markets research analyst notes\n</blockquote>\n<p>Peter Andersen, a Boston-based money manager, started 2021 feeling upbeat.</p>\n<p>\"I think this is going to be <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the historic recoveries, up there with the end of major wars,\" he told MarketWatch around the turn of the year. \"There's enormous demand from consumers. Can you imagine when we get the all-clear and start moving back toward normalcy?\"</p>\n<p>But three months into the year, Andersen is glum. In an interview last week, he talked about the way big segments of the market seem to be in favor one day, out the next. \"We toggle between value and growth, stay-at-home and re-opening, almost daily,\" he said. \"I don't know who is driving this, but it must be following some kind of algorithm.\"</p>\n<p>Andersen is trying to be patient, recognizing that the economy is at a once-in-a-generation inflection point and that everyone is operating in unprecedented conditions. Still, he said, the financial markets sometimes feel like a house of cards.</p>\n<p>\"It's confounding,\" he said. \"The market is fragile, and surprisingly so. This whole year for me has been really challenging to try to figure out is there any momentum, what direction is it going in and what's responsible for it.\"</p>\n<p>As if the horrors of the global coronavirus pandemic weren't enough of a curveball, the past 12 months have thrown up a slew of other headwinds against smooth market sailing. There's the surge of retail traders bent on using the stock market as a gambling casino , and a national politics so bitter that the presidential election turned bloody.</p>\n<p>And that's not even counting the more existential questions: what's the right level for a stock market that plunged 33% in about two weeks just a year ago? How much of that gain comes down to policy stimulus and how much is real? How much of the expected economic rebound is already priced in? What happens if the vaccine promise falls short? What if this is as good as it gets?</p>\n<p>Taken together, it leaves people who manage money, their clients, and the companies that advise them, just as befuddled as Andersen, with almost as many perceived red flags as there are theories as to what's causing it all.</p>\n<p>\"The most common observation we get from clients is that markets don't \"feel right\", and we absolutely get that,\" wrote Nicholas Colas, co-founder of DataTrek Research, in a recent note. \"For us, a big piece of this unease comes from the novelty of seeing capital markets go from distress to euphoria in such a short period of time.\"</p>\n<p>Market observers point to all manner of weird quirks that seem to confirm something is askew. Among other things, trading volumes have plunged to start 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/0fb6bad128839dbcf6e9ba87c8620e88\" tg-width=\"647\" tg-height=\"426\"></p>\n<p>To be sure, the elevated volumes in 2020 were just that -- an outlier. But by some estimates, inexperienced amateur traders now make up as much as 20% of all volume in the markets. And even if all of them aren't out gunning for short-sellers, they still have very different priorities and incentives than much of the rest of the market.</p>\n<p>Also unsettling was the spike U.S. Treasury yields in only a few weeks in the first quarter this year, spooking stock-market investors, followed by several weeks of Federal Reserve policymakers reassuring markets that any interest rate rises wouldn't start until 2023 and would be telegraphed well in advance. Strangely then, rosy economic data seemingly caused bond yields to plunge in mid-April.</p>\n<p>\"Other weird stuff is going on,\" mused Evercore ISI's Dennis DeBusschere, in a note attempting to explain the government-bond rally. \"SPAC's and Solar are getting hit hard on a relative basis, which is odd given the move lower in 10 year yields. Some are citing that the retail investor-sponsored names are getting hit in general as they move away from the market. And why are homebuilders underperforming with 10 year yields collapsing?\"</p>\n<p>Dave Nadig is a long-time student of market structure, including as one of the first developers of exchange-traded funds to help markets avoid another blow-up like 1987's Black Monday.</p>\n<p>Nadig thinks markets are healthy -- that is, working efficiently and staying resilient, even through hiccups like the meme-stock rampage in the past couple of months and the Archegos family office blow-up. What's become \"very fragile,\" in his words, is price discovery.</p>\n<p>\"There are some fundamental underpinnings of how markets work that are dissolving,\" he said in an interview. \"What we're realizing is that there's a lot more noise and randomness in the market than people are willing to admit. Mostly what's changed is information flow and data moving faster and faster. Any model you build today by definition fails to take into account an acceleration tomorrow.\"</p>\n<p>Take the Gamestop Corp. <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>frenzy that erupted in January . After a group of disgruntled traders spent several weeks targeting short sellers by driving the price of that stock higher, \"It's no longer a normal stock -- it's an externality in the market that has ripple effects some investors may not even be aware of,\" Nadig said.</p>\n<p>Older investing models -- and algorithms -- are bumping up against new ones that take into account new conditions, a process Nadig calls \"an arms race,\" and one that's accelerated because of the modern speed of information flow and reaction functions.</p>\n<p>\"We're starting to see cracks in the traditional ways we've always analyzed markets,\" he said. \"We're no longer processing reality, we're processing information, and it gets priced in instantaneously. We've given up on analyzing.\"</p>\n<p>That means that a headline, say, about a pause in the use of Johnson &amp; Johnson's COVID-19 vaccine shares trade lower, Nadig said. It means that for that day, the entire \"re-opening\" trade -- and by extension, some cyclical trades and some value plays -- suffers.</p>\n<p>For Peter Andersen, who's managed money for nearly three decades and returned more than 40% for his clients in each of the the past two years, the market's fragility is frustrating. Andersen prides himself on \"fierce independence\" in stock selection that results in a macro-agnostic portfolio. Some of his recent investments have been in cybersecurity, data storage, and pet care.</p>\n<p>In the year to date, however, one of Andersen's top picks, <a href=\"https://laohu8.com/S/TRUP\">Trupanion</a> Inc. (TRUP), is down 33%, for no logical reason, he noted. \"It's as if someone thinks everyone is going to euthanize their pets!\"</p>\n<p>Stocks looked past the Johnson &amp; Johnson news to close higher for the week with both the Dow and S&amp;P500 index at new records. The Dow Jones Industrial Average gained 1.2%, the S&amp;P 500 was up 1.4%, and the Nasdaq Composite added 1.1%.</p>\n<p>The coming week will bring U.S. economic data on the housing market, including existing- and new- home sales, and a raft of corporate earnings reports.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stocks are at all-time highs and the U.S. economy is booming. 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So why is everyone so nervous?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-04-19 11:20</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n Clients say 'markets don't feel right,' <a href=\"https://laohu8.com/S/AONE\">one</a> markets research analyst notes\n</blockquote>\n<p>Peter Andersen, a Boston-based money manager, started 2021 feeling upbeat.</p>\n<p>\"I think this is going to be <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the historic recoveries, up there with the end of major wars,\" he told MarketWatch around the turn of the year. \"There's enormous demand from consumers. Can you imagine when we get the all-clear and start moving back toward normalcy?\"</p>\n<p>But three months into the year, Andersen is glum. In an interview last week, he talked about the way big segments of the market seem to be in favor one day, out the next. \"We toggle between value and growth, stay-at-home and re-opening, almost daily,\" he said. \"I don't know who is driving this, but it must be following some kind of algorithm.\"</p>\n<p>Andersen is trying to be patient, recognizing that the economy is at a once-in-a-generation inflection point and that everyone is operating in unprecedented conditions. Still, he said, the financial markets sometimes feel like a house of cards.</p>\n<p>\"It's confounding,\" he said. \"The market is fragile, and surprisingly so. This whole year for me has been really challenging to try to figure out is there any momentum, what direction is it going in and what's responsible for it.\"</p>\n<p>As if the horrors of the global coronavirus pandemic weren't enough of a curveball, the past 12 months have thrown up a slew of other headwinds against smooth market sailing. There's the surge of retail traders bent on using the stock market as a gambling casino , and a national politics so bitter that the presidential election turned bloody.</p>\n<p>And that's not even counting the more existential questions: what's the right level for a stock market that plunged 33% in about two weeks just a year ago? How much of that gain comes down to policy stimulus and how much is real? How much of the expected economic rebound is already priced in? What happens if the vaccine promise falls short? What if this is as good as it gets?</p>\n<p>Taken together, it leaves people who manage money, their clients, and the companies that advise them, just as befuddled as Andersen, with almost as many perceived red flags as there are theories as to what's causing it all.</p>\n<p>\"The most common observation we get from clients is that markets don't \"feel right\", and we absolutely get that,\" wrote Nicholas Colas, co-founder of DataTrek Research, in a recent note. \"For us, a big piece of this unease comes from the novelty of seeing capital markets go from distress to euphoria in such a short period of time.\"</p>\n<p>Market observers point to all manner of weird quirks that seem to confirm something is askew. Among other things, trading volumes have plunged to start 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/0fb6bad128839dbcf6e9ba87c8620e88\" tg-width=\"647\" tg-height=\"426\"></p>\n<p>To be sure, the elevated volumes in 2020 were just that -- an outlier. But by some estimates, inexperienced amateur traders now make up as much as 20% of all volume in the markets. And even if all of them aren't out gunning for short-sellers, they still have very different priorities and incentives than much of the rest of the market.</p>\n<p>Also unsettling was the spike U.S. Treasury yields in only a few weeks in the first quarter this year, spooking stock-market investors, followed by several weeks of Federal Reserve policymakers reassuring markets that any interest rate rises wouldn't start until 2023 and would be telegraphed well in advance. Strangely then, rosy economic data seemingly caused bond yields to plunge in mid-April.</p>\n<p>\"Other weird stuff is going on,\" mused Evercore ISI's Dennis DeBusschere, in a note attempting to explain the government-bond rally. \"SPAC's and Solar are getting hit hard on a relative basis, which is odd given the move lower in 10 year yields. Some are citing that the retail investor-sponsored names are getting hit in general as they move away from the market. And why are homebuilders underperforming with 10 year yields collapsing?\"</p>\n<p>Dave Nadig is a long-time student of market structure, including as one of the first developers of exchange-traded funds to help markets avoid another blow-up like 1987's Black Monday.</p>\n<p>Nadig thinks markets are healthy -- that is, working efficiently and staying resilient, even through hiccups like the meme-stock rampage in the past couple of months and the Archegos family office blow-up. What's become \"very fragile,\" in his words, is price discovery.</p>\n<p>\"There are some fundamental underpinnings of how markets work that are dissolving,\" he said in an interview. \"What we're realizing is that there's a lot more noise and randomness in the market than people are willing to admit. Mostly what's changed is information flow and data moving faster and faster. Any model you build today by definition fails to take into account an acceleration tomorrow.\"</p>\n<p>Take the Gamestop Corp. <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>frenzy that erupted in January . After a group of disgruntled traders spent several weeks targeting short sellers by driving the price of that stock higher, \"It's no longer a normal stock -- it's an externality in the market that has ripple effects some investors may not even be aware of,\" Nadig said.</p>\n<p>Older investing models -- and algorithms -- are bumping up against new ones that take into account new conditions, a process Nadig calls \"an arms race,\" and one that's accelerated because of the modern speed of information flow and reaction functions.</p>\n<p>\"We're starting to see cracks in the traditional ways we've always analyzed markets,\" he said. \"We're no longer processing reality, we're processing information, and it gets priced in instantaneously. We've given up on analyzing.\"</p>\n<p>That means that a headline, say, about a pause in the use of Johnson &amp; Johnson's COVID-19 vaccine shares trade lower, Nadig said. It means that for that day, the entire \"re-opening\" trade -- and by extension, some cyclical trades and some value plays -- suffers.</p>\n<p>For Peter Andersen, who's managed money for nearly three decades and returned more than 40% for his clients in each of the the past two years, the market's fragility is frustrating. Andersen prides himself on \"fierce independence\" in stock selection that results in a macro-agnostic portfolio. Some of his recent investments have been in cybersecurity, data storage, and pet care.</p>\n<p>In the year to date, however, one of Andersen's top picks, <a href=\"https://laohu8.com/S/TRUP\">Trupanion</a> Inc. (TRUP), is down 33%, for no logical reason, he noted. \"It's as if someone thinks everyone is going to euthanize their pets!\"</p>\n<p>Stocks looked past the Johnson &amp; Johnson news to close higher for the week with both the Dow and S&amp;P500 index at new records. The Dow Jones Industrial Average gained 1.2%, the S&amp;P 500 was up 1.4%, and the Nasdaq Composite added 1.1%.</p>\n<p>The coming week will bring U.S. economic data on the housing market, including existing- and new- home sales, and a raft of corporate earnings reports.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2128525488","content_text":"Clients say 'markets don't feel right,' one markets research analyst notes\n\nPeter Andersen, a Boston-based money manager, started 2021 feeling upbeat.\n\"I think this is going to be one of the historic recoveries, up there with the end of major wars,\" he told MarketWatch around the turn of the year. \"There's enormous demand from consumers. Can you imagine when we get the all-clear and start moving back toward normalcy?\"\nBut three months into the year, Andersen is glum. In an interview last week, he talked about the way big segments of the market seem to be in favor one day, out the next. \"We toggle between value and growth, stay-at-home and re-opening, almost daily,\" he said. \"I don't know who is driving this, but it must be following some kind of algorithm.\"\nAndersen is trying to be patient, recognizing that the economy is at a once-in-a-generation inflection point and that everyone is operating in unprecedented conditions. Still, he said, the financial markets sometimes feel like a house of cards.\n\"It's confounding,\" he said. \"The market is fragile, and surprisingly so. This whole year for me has been really challenging to try to figure out is there any momentum, what direction is it going in and what's responsible for it.\"\nAs if the horrors of the global coronavirus pandemic weren't enough of a curveball, the past 12 months have thrown up a slew of other headwinds against smooth market sailing. There's the surge of retail traders bent on using the stock market as a gambling casino , and a national politics so bitter that the presidential election turned bloody.\nAnd that's not even counting the more existential questions: what's the right level for a stock market that plunged 33% in about two weeks just a year ago? How much of that gain comes down to policy stimulus and how much is real? How much of the expected economic rebound is already priced in? What happens if the vaccine promise falls short? What if this is as good as it gets?\nTaken together, it leaves people who manage money, their clients, and the companies that advise them, just as befuddled as Andersen, with almost as many perceived red flags as there are theories as to what's causing it all.\n\"The most common observation we get from clients is that markets don't \"feel right\", and we absolutely get that,\" wrote Nicholas Colas, co-founder of DataTrek Research, in a recent note. \"For us, a big piece of this unease comes from the novelty of seeing capital markets go from distress to euphoria in such a short period of time.\"\nMarket observers point to all manner of weird quirks that seem to confirm something is askew. Among other things, trading volumes have plunged to start 2021.\n\nTo be sure, the elevated volumes in 2020 were just that -- an outlier. But by some estimates, inexperienced amateur traders now make up as much as 20% of all volume in the markets. And even if all of them aren't out gunning for short-sellers, they still have very different priorities and incentives than much of the rest of the market.\nAlso unsettling was the spike U.S. Treasury yields in only a few weeks in the first quarter this year, spooking stock-market investors, followed by several weeks of Federal Reserve policymakers reassuring markets that any interest rate rises wouldn't start until 2023 and would be telegraphed well in advance. Strangely then, rosy economic data seemingly caused bond yields to plunge in mid-April.\n\"Other weird stuff is going on,\" mused Evercore ISI's Dennis DeBusschere, in a note attempting to explain the government-bond rally. \"SPAC's and Solar are getting hit hard on a relative basis, which is odd given the move lower in 10 year yields. Some are citing that the retail investor-sponsored names are getting hit in general as they move away from the market. And why are homebuilders underperforming with 10 year yields collapsing?\"\nDave Nadig is a long-time student of market structure, including as one of the first developers of exchange-traded funds to help markets avoid another blow-up like 1987's Black Monday.\nNadig thinks markets are healthy -- that is, working efficiently and staying resilient, even through hiccups like the meme-stock rampage in the past couple of months and the Archegos family office blow-up. What's become \"very fragile,\" in his words, is price discovery.\n\"There are some fundamental underpinnings of how markets work that are dissolving,\" he said in an interview. \"What we're realizing is that there's a lot more noise and randomness in the market than people are willing to admit. Mostly what's changed is information flow and data moving faster and faster. Any model you build today by definition fails to take into account an acceleration tomorrow.\"\nTake the Gamestop Corp. $(GME)$frenzy that erupted in January . After a group of disgruntled traders spent several weeks targeting short sellers by driving the price of that stock higher, \"It's no longer a normal stock -- it's an externality in the market that has ripple effects some investors may not even be aware of,\" Nadig said.\nOlder investing models -- and algorithms -- are bumping up against new ones that take into account new conditions, a process Nadig calls \"an arms race,\" and one that's accelerated because of the modern speed of information flow and reaction functions.\n\"We're starting to see cracks in the traditional ways we've always analyzed markets,\" he said. \"We're no longer processing reality, we're processing information, and it gets priced in instantaneously. We've given up on analyzing.\"\nThat means that a headline, say, about a pause in the use of Johnson & Johnson's COVID-19 vaccine shares trade lower, Nadig said. It means that for that day, the entire \"re-opening\" trade -- and by extension, some cyclical trades and some value plays -- suffers.\nFor Peter Andersen, who's managed money for nearly three decades and returned more than 40% for his clients in each of the the past two years, the market's fragility is frustrating. Andersen prides himself on \"fierce independence\" in stock selection that results in a macro-agnostic portfolio. Some of his recent investments have been in cybersecurity, data storage, and pet care.\nIn the year to date, however, one of Andersen's top picks, Trupanion Inc. (TRUP), is down 33%, for no logical reason, he noted. \"It's as if someone thinks everyone is going to euthanize their pets!\"\nStocks looked past the Johnson & Johnson news to close higher for the week with both the Dow and S&P500 index at new records. The Dow Jones Industrial Average gained 1.2%, the S&P 500 was up 1.4%, and the Nasdaq Composite added 1.1%.\nThe coming week will bring U.S. economic data on the housing market, including existing- and new- home sales, and a raft of corporate earnings reports.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":767,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3546953115990917","authorId":"3546953115990917","name":"我来啦你不要跑","avatar":"https://static.tigerbbs.com/5bd412726b1348c9275f5dcd38fff8a8","crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3546953115990917","idStr":"3546953115990917"},"content":"Reply to my comment thx","text":"Reply to my comment thx","html":"Reply to my comment thx"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183996982,"gmtCreate":1623298691346,"gmtModify":1704200369371,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/183996982","repostId":"1142408805","repostType":4,"repost":{"id":"1142408805","kind":"news","pubTimestamp":1623280126,"share":"https://ttm.financial/m/news/1142408805?lang=en_US&edition=fundamental","pubTime":"2021-06-10 07:08","market":"us","language":"en","title":"U.S. stocks end lower ahead of inflation report","url":"https://stock-news.laohu8.com/highlight/detail?id=1142408805","media":"reuters","summary":"NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants a","content":"<p>NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.</p>\n<p>The retail “meme stock” craze continued unabated.</p>\n<p>All three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts.</p>\n<p>“There’s a lull period in terms of news,” said Chuck Carlson, chief executive at Horizon Investment Services in Hammond, Indiana. “We’re through earnings period and people are waiting for inflation numbers tomorrow, so you have a mixed market where the major averages aren’t doing much of anything.”</p>\n<p>Heavily shorted meme stocks extended their social media-driven rally, with Aethlon Medical soaring 388.2%.</p>\n<p>Reddit chatter also helped to lift shares of prison operator GEO Group and World Wrestling Entertainment 38.4% and 10.9%, respectively.</p>\n<p>However, other meme stocks such as Clover Health, AMC Entertainment and Bed Bath &amp; Beyond closed lower.</p>\n<p>Retail volume has returned to its January peak, according to Vanda Research, as social media forums scramble to identify the next GameStop Corp, the stock that kicked off the phenomenon.</p>\n<p>“It feels like alternative stock market,” Carlson added. It’s an indication of speculation. You can be successful if you get in at the right moment but it’s very difficult to play successfully over time.”</p>\n<p>“I don’t think you should read too much regarding the broader market.”</p>\n<p>GameStop named Matt Furlong as its new CEO ahead of its earnings report, which showed a quarterly loss of $1.01 per share. Its shares fell over 4% in after-hours trading.</p>\n<p>U.S. President Joe Biden changed course in ongoing negotiations to reach a bipartisan agreement on infrastructure spending after one-on-one talks with Senator Shelley Capito broke down.</p>\n<p>Industrial stocks, which stand to benefit from an infrastructure deal, slid by 1%.</p>\n<p>Washington lawmakers passed a sweeping bill designed to boost the United States’ ability to compete against Chinese technology, providing funds for research and semiconductor production amid an ongoing chip supply drought. The bill now heads to the House of Representatives.</p>\n<p>Even so, the Philadelphia SE Semiconductor index slipped 0.4%.</p>\n<p>The Labor Department’s consumer price index report due out Thursday will provide another take on inflation amid the recovery’s demand/supply imbalance as investors determine whether inflationary pressures, as the Fed asserts, will be transitory.</p>\n<p>The Dow Jones Industrial Average fell 152.68 points, or 0.44%, to 34,447.14; the S&amp;P 500 lost 7.71 points, or 0.18%, at 4,219.55; and the Nasdaq Composite dropped 13.16 points, or 0.09%, to 13,911.75.</p>\n<p>Among the 11 major sectors in the S&amp;P 500, healthcare gained the most.</p>\n<p>Benchmark Treasury yields dropped below 1.5% for the first time since May, weighing on interest-sensitive financials.</p>\n<p>Campbell Soup Co missed quarterly profit expectations and slashed its full-year earnings forecast, sending its shares down 6.5%.</p>\n<p>Drugmaker Merck &amp; Co rose 2.3% on the heels of its announcement the U.S. government had agreed to buy about 1.7 million courses of the company’s experimental COVID-19 treatment, molnupiravir, for about $1.2 billion, if the drug meets regulatory approval.</p>\n<p>Declining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 38 new 52-week highs and two new lows; the Nasdaq Composite recorded 126 new highs and 14 new lows.</p>\n<p>Volume on U.S. exchanges was 11.53 billion shares, compared with the 10.74 billion average over the last 20 trading days.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks end lower ahead of inflation report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks end lower ahead of inflation report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-10 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-end-lower-ahead-of-inflation-report-idUSL2N2NR2UG><strong>reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-end-lower-ahead-of-inflation-report-idUSL2N2NR2UG\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","AEMD":"Aethlon Medical Inc",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-end-lower-ahead-of-inflation-report-idUSL2N2NR2UG","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142408805","content_text":"NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.\nThe retail “meme stock” craze continued unabated.\nAll three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts.\n“There’s a lull period in terms of news,” said Chuck Carlson, chief executive at Horizon Investment Services in Hammond, Indiana. “We’re through earnings period and people are waiting for inflation numbers tomorrow, so you have a mixed market where the major averages aren’t doing much of anything.”\nHeavily shorted meme stocks extended their social media-driven rally, with Aethlon Medical soaring 388.2%.\nReddit chatter also helped to lift shares of prison operator GEO Group and World Wrestling Entertainment 38.4% and 10.9%, respectively.\nHowever, other meme stocks such as Clover Health, AMC Entertainment and Bed Bath & Beyond closed lower.\nRetail volume has returned to its January peak, according to Vanda Research, as social media forums scramble to identify the next GameStop Corp, the stock that kicked off the phenomenon.\n“It feels like alternative stock market,” Carlson added. It’s an indication of speculation. You can be successful if you get in at the right moment but it’s very difficult to play successfully over time.”\n“I don’t think you should read too much regarding the broader market.”\nGameStop named Matt Furlong as its new CEO ahead of its earnings report, which showed a quarterly loss of $1.01 per share. Its shares fell over 4% in after-hours trading.\nU.S. President Joe Biden changed course in ongoing negotiations to reach a bipartisan agreement on infrastructure spending after one-on-one talks with Senator Shelley Capito broke down.\nIndustrial stocks, which stand to benefit from an infrastructure deal, slid by 1%.\nWashington lawmakers passed a sweeping bill designed to boost the United States’ ability to compete against Chinese technology, providing funds for research and semiconductor production amid an ongoing chip supply drought. The bill now heads to the House of Representatives.\nEven so, the Philadelphia SE Semiconductor index slipped 0.4%.\nThe Labor Department’s consumer price index report due out Thursday will provide another take on inflation amid the recovery’s demand/supply imbalance as investors determine whether inflationary pressures, as the Fed asserts, will be transitory.\nThe Dow Jones Industrial Average fell 152.68 points, or 0.44%, to 34,447.14; the S&P 500 lost 7.71 points, or 0.18%, at 4,219.55; and the Nasdaq Composite dropped 13.16 points, or 0.09%, to 13,911.75.\nAmong the 11 major sectors in the S&P 500, healthcare gained the most.\nBenchmark Treasury yields dropped below 1.5% for the first time since May, weighing on interest-sensitive financials.\nCampbell Soup Co missed quarterly profit expectations and slashed its full-year earnings forecast, sending its shares down 6.5%.\nDrugmaker Merck & Co rose 2.3% on the heels of its announcement the U.S. government had agreed to buy about 1.7 million courses of the company’s experimental COVID-19 treatment, molnupiravir, for about $1.2 billion, if the drug meets regulatory approval.\nDeclining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored decliners.\nThe S&P 500 posted 38 new 52-week highs and two new lows; the Nasdaq Composite recorded 126 new highs and 14 new lows.\nVolume on U.S. exchanges was 11.53 billion shares, compared with the 10.74 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{"AEMD":0.9,".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":683,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137482345,"gmtCreate":1622377610587,"gmtModify":1704183630770,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/137482345","repostId":"2138948877","repostType":4,"repost":{"id":"2138948877","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1622215813,"share":"https://ttm.financial/m/news/2138948877?lang=en_US&edition=fundamental","pubTime":"2021-05-28 23:30","market":"us","language":"en","title":"The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=2138948877","media":"Investors","summary":"Vacation trends reveal shifts toward privacy, luxury and family, continuing a transformative period for leisure and travel stocks.","content":"<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Pandemic May Have Changed Vacations – And Travel Stocks Like Airbnb, Marriott, Winnebago – Forever\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time\">2021-05-28 23:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like <b>Airbnb</b> that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.</p><p>Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.</p><p>\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"</p><p>One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.</p><p>And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.</p><p>Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.</p><h2>Leisure, Travel Industry Stocks</h2><p>Shares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.</p><p>Airline stocks&nbsp;like <b>American Airlines</b>, <b>United Airlines</b> and <b>Delta Air Lines</b> surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.</p><p>Cruise stocks like <b>Carnival</b>, <b>Royal Caribbean</b> and <b>Norwegian Cruise Line</b> are showing similar patterns.</p><p>Meanwhile, shares of boat makers <b>MarineMax</b> and <b>Brunswick</b> as well as RV makers <b>Winnebago</b> and <b>Thor Industries</b> need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.</p><p>Hotel leader <b>Marriott</b> has been less volatile and is forming a base, though earnings and sales have yet to fully recover.</p><p>Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from <b><a href=\"https://laohu8.com/S/EXPE\">Expedia</a></b> rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.</p><h2><b>When Luxury Means More Privacy</b></h2><p>Luxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.</p><p>Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"</p><p>Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.</p><p>They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.</p><p>Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.</p><p>In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.</p><p>Private jet leasing company NetJets, which is owned by <b>Berkshire Hathaway</b>, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.</p><p>Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.</p><h2><b>Vacation Shift Favors These Travel Stocks</b></h2><p>Hotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.</p><p>Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.</p><p>The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes &amp; Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.</p><p>The Homes &amp; Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.</p><p>\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.</p><p>Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.</p><p>\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.</p><h2><b>Seaworthy Travel Stocks </b></h2><p>Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.</p><p>One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.</p><p>But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.</p><p>\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"</p><p>The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick&nbsp;as well as sport boat maker <b>Malibu Boats</b>.</p><p>\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.</p><h2><b>Travel Stocks For Being Alone Together</b></h2><p>The desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.</p><p>\"The rediscovery of America will continue this summer,\" Weissman said.</p><p>The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.</p><p>Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.</p><p>\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"</p><p>Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.</p><h2><b>Work-Life Rebalance</b></h2><p>As people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.</p><p>Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.</p><p>Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"</p><p>Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.</p><p>\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"</p><h2>Future Of Business Travel?</h2><p>That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.</p><p>Experts say fewer workers may fly for <a href=\"https://laohu8.com/S/AONE\">one</a>-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.</p><p>When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in <a href=\"https://laohu8.com/S/AONE.U\">one</a> house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.</p><p>That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.</p><p>\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WGO":"温尼巴格实业"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2138948877","content_text":"Your next vacation will likely be more private, luxurious or family oriented than your trips in the past, and business trips may never be the same. For leisure and travel stocks like Airbnb that got slammed by pandemic shutdowns, the lifting of Covid curbs means adjusting to a whole new world.Some tastes people acquired last year as they looked for escapes from lockdown are proving durable, like traveling to national parks by RV. Others, such as boating, grew out of surges in wealth that the stock market rally provided. As the summer travel season heats up, Americans are making new choices in where they go, when they go, how they get there and who joins them.\"The world is never going back to the way it was,\" said Airbnb CEO Brian Chesky on an earnings call in May. \"And that means that travel is never going back to the way it was either.\"One major trend is travelers have become more flexible about when and where they go, especially as remote work allows people to blur when they are on and off the clock. Airbnb stock rose May 24, when the company updated booking features, including an option to search for listings without fixed dates or locations.And consumers aren't the only ones changing their habits. While tourism-dependent destinations suffered last year, the less-packed streets also showed locals the benefits of quieter communities.Residents and local officials in normally packed hot spots like Italy and Hawaii are considering limiting the number of tourists. Such a seismic change could make visiting these places prohibitively expensive for many people. If the mix of travelers tilts more heavily toward the wealthy, travel stocks will nudge further toward luxury.Leisure, Travel Industry StocksShares across the sector have rebounded from last year's pandemic lows. The stocks' recent chart action is mixed. But many travel stocks have outperformed the market the past week and could present buying opportunities for investors.Airline stocks like American Airlines, United Airlines and Delta Air Lines surged earlier this year on the Reddit stock short squeeze. Then they sold off because business and overseas travel remained weak. Since then, they've consolidated and are approaching buy points.Cruise stocks like Carnival, Royal Caribbean and Norwegian Cruise Line are showing similar patterns.Meanwhile, shares of boat makers MarineMax and Brunswick as well as RV makers Winnebago and Thor Industries need to regroup after some failed breakouts. They are no longer in buy zones but could form new bases if earnings and sales growth remain strong.Hotel leader Marriott has been less volatile and is forming a base, though earnings and sales have yet to fully recover.Airbnb stock has had a more difficult year. It surged after going public in December but began to slump in March as competition from Expedia rival Vrbo rental service reduced the availability of hosts. A mixed Q1 earnings report and the end of a post-IPO lockup period also weighed on Airbnb stock, which popped up 6% Thursday on higher volume but remained 35% off its 2021 high.When Luxury Means More PrivacyLuxury travel, once the purview of only the ultrarich, may have won over those who might have had the means but not the need to travel lavishly. As travelers sought to avoid crowds during the pandemic, those with the means turned to options like private jets.Arnie Weissman, editor-in-chief of Travel Weekly, says the pandemic opened luxury travel to a wider customer base. \"Some people developed a taste for it, and it's likely to continue.\"Kim-Marie Evans, who writes the blog \"Luxury Travel Moms\" and plans travel for high-net-worth clients, told IBD she booked a trip for a family to Anguilla.They stayed in a four-bedroom villa at the Four Seasons. And rather than flying commercially, they used a private jet service.Private jet bookings are at or near their pre-pandemic highs, according to Elite Traveler, citing industry tracker FlightAware's data.In May, private jet company Wheels Up said membership jumped 58% in Q1 to nearly 10,000. And VistaJet, another leading private jet company, said membership climbed 29% from a year ago.Private jet leasing company NetJets, which is owned by Berkshire Hathaway, says its flight volume dropped to as low as 10% of 2019 numbers at the start of the pandemic.Now the company, which also offers fractional ownership of its jets, says it's operating at 85% of its 2019 volume. NetJets said in a statement that commercial airlines have reduced their schedules. Consumers also are prioritizing their health and safety, choosing the seclusion of a private jet over a packed jetliner.Vacation Shift Favors These Travel StocksHotel chains implemented stringent Covid-19 protocols to convince visitors their properties were clean and safe. Still, many travelers opted to rent private homes through Airbnb, where they could avoid mingling with strangers in hotel lobbies, Weismann says.Travel trends favor Airbnb stock long term, though it currently is slumping. On May 27, analysts at RBC Capital Markets rated shares at outperform, citing secular tailwinds that have yet to be fully appreciated by the market such as its dominant customer engagement.The pandemic also shed light on the market potential of travel stocks like Marriott, which operates home-rental service Homes & Villas by Marriott International, catering to ultra premium short- and long-term stays, CFRA Research analyst Tuna Amobi says.The Homes & Villas platform, which offers professionally managed private homes, had around 2,000 units at launch less than two years ago. Today, it lists nearly 25,000 properties.\"They're where we don't have hotels, and many of them are in more remote locations, which really was quite attractive during Covid,\" said Marriott International President Stephanie Linnartz in a recent call with investors.Airbnb also finds that customers are visiting smaller cities, towns and rural communities — not the same 20-30 cities that were most popular pre-pandemic. People are traveling outside the peak seasons and staying longer.\"There is a mass shift from mass travel to meaningful travel,\" CEO Chesky said.Seaworthy Travel Stocks Luxury cruising should also come back with a bang. Nearly every cruise line's around-the-world luxury voyage is fully booked two years in advance.One cruise line, Silversea, said its 139-day around-the-world cruise sold out in a single day. The Monaco-based cruise line is owned by Royal Caribbean. The cruise costs between $74,000 and $278,000 per guest, based on double occupancy. That compares with typical fares that start at $15,000-$20,000.But others heading out to sea want to avoid crowded ships, which have seen outbreaks of coronavirus and other infections. The National Marine Manufacturers Association says new powerboat sales surged 34% in February compared to the same time period last year.\"Inventory levels of new boats are the leanest they've ever been, and boats are being sold as soon as they hit the marketplace as manufacturers work to fulfill the backlog of orders,\" said Vicky Yu, senior director of business intelligence for NMMA. \"While new boat sales slowed in early 2021 following record sales last year, we are still seeing elevated levels as more Americans seek out boating as a way to spend quality time with loved ones.\"The trend has pushed up leisure and travel stocks like boat retailers MarineMax and Brunswick as well as sport boat maker Malibu Boats.\"It's really turning out to be a great alternative for people to stay close to home and with their family and friends and enjoy the boating lifestyle,\" MarineMax CFO Michael McLamb said in a conference call after reporting earnings April 22.Travel Stocks For Being Alone TogetherThe desire to spend more time with friends and family is also spurring RV sales. They exploded in popularity during the pandemic, and sales data this year show demand remains high.\"The rediscovery of America will continue this summer,\" Weissman said.The pandemic accelerated long-term trends favoring the outdoors, Winnebago CEO Michael Happe said in a March earnings call. That includes power sports, boating and RVs.Consumer priorities have changed, he added, toward a desire to invest in experiences vs. possessions.\"We also believe the time (spent) recently with family and friends has reinforced that they'd like to do more of that in the future,\" Happe said. \"And families and individuals will be reevaluating how they spend their leisure time going forward.\"Airbnb pointed to another sign of this trend among leisure and travel stocks. Instead of booking studio apartments in cities, more customers are booking entire homes with more bedrooms. As a result, the number of guests per reservation has increased.Work-Life RebalanceAs people pay closer attention to their well-being post-Covid, another trend to watch is high-end wellness tourism with a focus on fitness, rejuvenation and health, Weissman says. That includes yoga and spa getaways as well as packages that offer cycling and hiking activities.Meanwhile, the work-from-home shift allowed people to rethink other aspects of their lifestyle. In particular, they can try to balance work, leisure and travel differently.Wedbush analyst James Hardiman says \"2020 was proof of concept that people can be productive, even more productive, while working remotely.\"Airbnb says the share of bookings longer than 28 days jumped to 24% in Q1 from 14% in 2019. The company doesn't consider this travel.\"People are not just traveling on Airbnb,\" Chesky said. \"They're now living on Airbnb.\"Future Of Business Travel?That also has implications for business travel, which is the most lucrative segment for travel stocks like airlines.Experts say fewer workers may fly for one-day intracompany meetings. However, more crucial business will still require people to fly for in-person meetings.When it's time to show up in person, Airbnb expects workers will travel together more often. That trend also has ramifications for Airbnb stock and others. Employees who work in different cities might stay in one house when they visit headquarters. They could share meals together at the kitchen table in the morning or evening.That may be a welcome change for road warriors, who pop in an out of cities and squeeze in sightseeing along the way.\"They don't miss business travel,\" Chesky said. \"They don't miss standing in line in front of a museum or a landmark … getting a photo with a selfie stick.\"","news_type":1,"symbols_score_info":{"WGO":0.9}},"isVote":1,"tweetType":1,"viewCount":661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195563725,"gmtCreate":1621302276867,"gmtModify":1704355411239,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/195563725","repostId":"2136295438","repostType":4,"repost":{"id":"2136295438","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1621286069,"share":"https://ttm.financial/m/news/2136295438?lang=en_US&edition=fundamental","pubTime":"2021-05-18 05:14","market":"us","language":"en","title":"Wall St ends lower, pulled down by tech stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=2136295438","media":"Reuters","summary":"* Discovery down after deal to merge with AT&T's media unit* Indexes down: Dow 0.16%, S&P 0.25%, Nas","content":"<p>* Discovery down after deal to merge with AT&amp;T's media unit</p><p>* Indexes down: Dow 0.16%, S&amp;P 0.25%, Nasdaq 0.38%</p><p>May 17 (Reuters) - Wall Street ended lower on Monday, weighed down by tech shares as signs of growing inflation worried investors about the potential for tighter monetary policy.</p><p>Of the 11 major S&amp;P sectors that declined, technology, utilities    and communication services&nbsp;were the biggest losers, each down between 0.7% and 0.9%.</p><p>\"What is causing the decline, no surprise to anybody, is the worry about inflation and interest rates,\" said Sam Stovall, chief investment strategist at CFRA Research in New York.</p><p>\"As a result that's causing the growth group, in particular technology and consumer discretionary stocks, to experience weakness, while some of the more value-oriented groups are holding up a bit better.\"</p><p>The S&amp;P 500 scored its biggest <a href=\"https://laohu8.com/S/AONE\">one</a>-day jump in more than a month on Friday as investors picked up beaten-down stocks following a pullback earlier in the week on worries about inflation and a sooner-than-expected tightening by the U.S. Federal Reserve.</p><p>The Dow Jones Industrial Average  fell 56.34 points, or 0.16%, to 34,326.01; the S&amp;P 500    lost 10.56 points, or 0.25%, at 4,163.43; and the Nasdaq Composite    dropped 50.93 points, or 0.38%, to 13,379.05.</p><p>Earnings this week will be scrutinized for clues on whether rising prices had any impact on consumer demand and if retailers can sustain their strong earnings momentum.</p><p>Cryptocurrency-related stocks like Marathon Digital, Riot Blockchain    and Coinbase    fell between 3% and 7% as bitcoin swung in volatile trading after Tesla Inc    boss Elon Musk tweeted about the carmaker's bitcoin holdings.</p><p>With the earnings season at its tail end, overall earnings for S&amp;P 500 companies are expected to have climbed 50.6% from a year ago, according to Refinitiv IBES, the strongest pace in 11 years.</p><p>AT&amp;T Inc, owner of HBO and Warner Bros studios, and Discovery Inc   , home to lifestyle TV networks such as HGTV and TLC, said on Monday they will combine their content assets to create a standalone global entertainment and media business. AT&amp;T shares declined 2.69%, while Discovery fell about 5.04%.</p><p>Volume on U.S. exchanges was 9.8 billion shares, compared with the 10.5 billion average over the last 20 trading days.</p><p>On the Nasdaq 100 the largest gainer was Trip.Com Group Ltd, which rose 3.8%, while the largest decliner was Comcast Corp, down 5.5%.</p><p>Advancing issues outnumbered decliners on the NYSE by a 1.13-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 110 new highs and 63 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St ends lower, pulled down by tech stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall St ends lower, pulled down by tech stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-18 05:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* Discovery down after deal to merge with AT&amp;T's media unit</p><p>* Indexes down: Dow 0.16%, S&amp;P 0.25%, Nasdaq 0.38%</p><p>May 17 (Reuters) - Wall Street ended lower on Monday, weighed down by tech shares as signs of growing inflation worried investors about the potential for tighter monetary policy.</p><p>Of the 11 major S&amp;P sectors that declined, technology, utilities    and communication services&nbsp;were the biggest losers, each down between 0.7% and 0.9%.</p><p>\"What is causing the decline, no surprise to anybody, is the worry about inflation and interest rates,\" said Sam Stovall, chief investment strategist at CFRA Research in New York.</p><p>\"As a result that's causing the growth group, in particular technology and consumer discretionary stocks, to experience weakness, while some of the more value-oriented groups are holding up a bit better.\"</p><p>The S&amp;P 500 scored its biggest <a href=\"https://laohu8.com/S/AONE\">one</a>-day jump in more than a month on Friday as investors picked up beaten-down stocks following a pullback earlier in the week on worries about inflation and a sooner-than-expected tightening by the U.S. Federal Reserve.</p><p>The Dow Jones Industrial Average  fell 56.34 points, or 0.16%, to 34,326.01; the S&amp;P 500    lost 10.56 points, or 0.25%, at 4,163.43; and the Nasdaq Composite    dropped 50.93 points, or 0.38%, to 13,379.05.</p><p>Earnings this week will be scrutinized for clues on whether rising prices had any impact on consumer demand and if retailers can sustain their strong earnings momentum.</p><p>Cryptocurrency-related stocks like Marathon Digital, Riot Blockchain    and Coinbase    fell between 3% and 7% as bitcoin swung in volatile trading after Tesla Inc    boss Elon Musk tweeted about the carmaker's bitcoin holdings.</p><p>With the earnings season at its tail end, overall earnings for S&amp;P 500 companies are expected to have climbed 50.6% from a year ago, according to Refinitiv IBES, the strongest pace in 11 years.</p><p>AT&amp;T Inc, owner of HBO and Warner Bros studios, and Discovery Inc   , home to lifestyle TV networks such as HGTV and TLC, said on Monday they will combine their content assets to create a standalone global entertainment and media business. AT&amp;T shares declined 2.69%, while Discovery fell about 5.04%.</p><p>Volume on U.S. exchanges was 9.8 billion shares, compared with the 10.5 billion average over the last 20 trading days.</p><p>On the Nasdaq 100 the largest gainer was Trip.Com Group Ltd, which rose 3.8%, while the largest decliner was Comcast Corp, down 5.5%.</p><p>Advancing issues outnumbered decliners on the NYSE by a 1.13-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 110 new highs and 63 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136295438","content_text":"* Discovery down after deal to merge with AT&T's media unit* Indexes down: Dow 0.16%, S&P 0.25%, Nasdaq 0.38%May 17 (Reuters) - Wall Street ended lower on Monday, weighed down by tech shares as signs of growing inflation worried investors about the potential for tighter monetary policy.Of the 11 major S&P sectors that declined, technology, utilities    and communication services were the biggest losers, each down between 0.7% and 0.9%.\"What is causing the decline, no surprise to anybody, is the worry about inflation and interest rates,\" said Sam Stovall, chief investment strategist at CFRA Research in New York.\"As a result that's causing the growth group, in particular technology and consumer discretionary stocks, to experience weakness, while some of the more value-oriented groups are holding up a bit better.\"The S&P 500 scored its biggest one-day jump in more than a month on Friday as investors picked up beaten-down stocks following a pullback earlier in the week on worries about inflation and a sooner-than-expected tightening by the U.S. Federal Reserve.The Dow Jones Industrial Average  fell 56.34 points, or 0.16%, to 34,326.01; the S&P 500    lost 10.56 points, or 0.25%, at 4,163.43; and the Nasdaq Composite    dropped 50.93 points, or 0.38%, to 13,379.05.Earnings this week will be scrutinized for clues on whether rising prices had any impact on consumer demand and if retailers can sustain their strong earnings momentum.Cryptocurrency-related stocks like Marathon Digital, Riot Blockchain    and Coinbase    fell between 3% and 7% as bitcoin swung in volatile trading after Tesla Inc    boss Elon Musk tweeted about the carmaker's bitcoin holdings.With the earnings season at its tail end, overall earnings for S&P 500 companies are expected to have climbed 50.6% from a year ago, according to Refinitiv IBES, the strongest pace in 11 years.AT&T Inc, owner of HBO and Warner Bros studios, and Discovery Inc   , home to lifestyle TV networks such as HGTV and TLC, said on Monday they will combine their content assets to create a standalone global entertainment and media business. AT&T shares declined 2.69%, while Discovery fell about 5.04%.Volume on U.S. exchanges was 9.8 billion shares, compared with the 10.5 billion average over the last 20 trading days.On the Nasdaq 100 the largest gainer was Trip.Com Group Ltd, which rose 3.8%, while the largest decliner was Comcast Corp, down 5.5%.Advancing issues outnumbered decliners on the NYSE by a 1.13-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.The S&P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 110 new highs and 63 new lows.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":914,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165072075,"gmtCreate":1624083758797,"gmtModify":1703828549270,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/165072075","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":609,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119920866,"gmtCreate":1622514252755,"gmtModify":1704185416967,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":8,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/119920866","repostId":"1105273964","repostType":4,"repost":{"id":"1105273964","kind":"news","pubTimestamp":1622511256,"share":"https://ttm.financial/m/news/1105273964?lang=en_US&edition=fundamental","pubTime":"2021-06-01 09:34","market":"hk","language":"en","title":"Here Are the 11 Best Performing IPOs of the Year","url":"https://stock-news.laohu8.com/highlight/detail?id=1105273964","media":"Barron's","summary":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.That left us with 11 names. First up:CureVac, which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its ","content":"<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here Are the 11 Best Performing IPOs of the Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the 11 Best Performing IPOs of the Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 09:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these ...</p>\n\n<a href=\"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105273964","content_text":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.Barron’slooked at businesses that have gone public in the past 12 months to find some strong performers.First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.Another example isAcademy Sports & Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading.Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.","news_type":1,"symbols_score_info":{"BOTB.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":833,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3580552395512517","authorId":"3580552395512517","name":"SLYong","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3580552395512517","idStr":"3580552395512517"},"content":"Comment back thx","text":"Comment back thx","html":"Comment back thx"}],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}