Technology stocks have had a very bad week. For the FAANGs (Facebook, Apple, Amazon, Netflix and Google) which have led the charge in growth over the past decade, it was grim.
At their lowest point, all five were down more than 20 per cent from their peaks. This translates to hundreds of billions of dollars in value being wiped from them.
Source: BBC Technology News
Date: November 30th, 2018
1) Who else might we consider adding to the FAANG group?
2) This article brings up a very interesting point: “Reid Hoffman, the co-founder of LinkedIn, has co-authored an important new book called Blitzscaling. This riffs on the idea that it is the remorseless pursuit of scale that gives data-based companies their advantage. The first scaler, rather than the first mover, will emerge victorious in various markets. That, according to Hoffman, is why venture capitalists are happy to tolerate the lack of profits at a company like Uber.” Which do you think is more important, being the first mover or being the first scaler?