Rani Molla

1 week ago | sherwood.news | Rani Molla

Lyft is trading up 20% after posting first-quarter earnings yesterday that beat analyst estimates, netting a record number of bookings and boosting its share buyback plan to $750 million thanks to “financial strength.” The company saw strong growth in smaller, car-centric markets like Indianapolis and Charlotte, where rides grew more than 30% year over year. It’s also expanding internationally in Canada and Europe with its FreeNow acquisition.

1 week ago | sherwood.news | Rani Molla

Apple made $10.1 billion on App Store commissions in the US last year, according to data from Appfigures reported by TechCrunch. That figure more than doubled since 2020. Last week, a federal judge has banned the 27% commission Apple charged developers for purchases made outside the App Store, meaning Apple could lose a big chunk of that revenue.

1 week ago | sherwood.news | Rani Molla

A Tesla Cybertruck with the word “Trump” sits in traffic in Washington, DC (Christopher Furlong/Getty Images)Tesla CEO Elon Musk’s political move to the right is likely alienating his core customer base. Political ideology plays a major role in Americans’ decisions to buy electric vehicles, a new NBER working paper that sifted through county-level vehicle registration data found.

1 week ago | sherwood.news | Rani Molla

Another day, another report of declining Tesla sales. Most recently, data from the China Passenger Car Association showed that Tesla sales declined 6% there in April, compared to a year earlier, to 58,459 vehicles. This is the seventh straight month of China declines. Meanwhile, sales for local rival BYD jumped 19% year on year to 372,615 vehicles. Outside the US, China is Tesla’s biggest market.

1 week ago | sherwood.news | Rani Molla

Yesterday, during Google’s antitrust case, Apple Senior Vice President of Services Eddy Cue testified that: 1) Google searches in Apple’s Safari web browser, where Google has paid roughly $20 billion a year to be the default, fell over the last two months as people choose AI alternatives like ChatGPT. “That has not happened in over 20 years,” he said. 2) Apple is considering adding AI-powered search, potentially including tools by OpenAI, Perplexity, or Anthropic, to Safari.