A Bold Prediction on Why Facebook Would Acquire Roku
TNT and TBS's Chief Innovation Officer Jesse Redniss offers a bold prediction that Facebook could have its eyes on Roku to boost its hardware capability in the OTT video space. Redniss explains why this acquisition could make sense for the social media giant.
"Facebook has been trying to get in the video space for quite some time," says Redniss. "In some ways in order for them to really scale to a marketplace it would make a lot more sense for them to buy one of the leaders in the marketplace they want to get in to."
"Roku and Facebook together could be a big boon for some of the publishers looking to find the right audiences," said Redniss. Roku's market cap is $4.56 billion, compared to Facebook's $39 billion in cash and cash equivalent on hand.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Starbucks’ AI barista aims to speed service and improve experience. Nick Lichtenberg, Fortune Business Editor, explains its impact on workers and customers.
As Big Tech reports Q3 earnings, investors await proof that massive AI and cloud investments from Meta, Apple, Microsoft, and Alphabet are driving real growth.
