Fri. 07/30 – For Amazon, Are Ads > AWS?

Tech Brew Ride Home

Amalgamated Internets, LLC

Tech News, News, Technology

4.7 • 1K Ratings

🗓️ 30 July 2021

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are ads a bigger cash cow for Amazon than even AWS? Follow up on Robinhood’s trading debut. How the SEC is dealing with the Chinese tech stock problem. Gopuff indicates that grocery delivery is still white hot to investors. And, of course, the Weekend Longreads Suggestions. Sponsors: Voices.com Metalab.co Links: Amazon Gets Record $888 Million EU Fine Over Data Violations (Bloomberg) Robinhood falls in its public market debut, closes more than 8% lower at $34.82 per share (CNBC) U.S. SEC says Chinese IPO hopefuls must provide additional risk disclosures (Reuters) Gopuff confirms new $1B cash injection at a $15B valuation to expand its instant grocery delivery service (TechCrunch) Weekend Longreads Suggestions: Groceries in 10 Minutes: Delivery Start-Ups Crowd City Streets Across Globe (NYTimes) THE SUMMER INTEL FELL BEHIND (The Verge) Why the US can’t just beam internet into authoritarian states like Cuba (Quartz) Social-Media Manager, the Most Millennial Job, Comes of Age (WSJ) Hollywood Calls the Russo Brothers When It’s Time to Build a New Universe (Bloomberg Businessweek) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Tech Meme Right Home for Friday, July 30th, 2021. I'm Brian McCullough today.
0:09.1	Our ads, a bigger cash cow for Amazon than even AWS at this point. Follow up on Robin Hood's
0:15.4	trading debut yesterday. How the SEC is dealing with the Chinese tech stock
0:19.3	problem. Go Puff indicates that grocery delivery is still white-hot to investors and of course the weekend long read suggestions
0:26.9	Here's what you missed today in the world of tech
0:37.0	Amazon wraps up our week of tech company earnings. There are other tech companies reporting next week like Uber and Roku, etc.
0:41.0	But we don't usually cover those unless there's a major miss or something.
0:46.4	Amazon reported a miss yesterday. It just wasn't that major, but hey, it's still worth noting.
0:51.9	The miss was on revenue, which came in at 133.08 billion dollars on
0:57.4	115.2 billion estimated, which is or isn't a big miss depending on how you think about it. It's small in
1:05.4	percentage terms almost infinitesimal but you know for most companies missing
1:09.1	revenue by two billion dollars and a quarter would be a pretty big deal.
1:12.3	Anyway net sales were up 20 billion dollars and a quarter would be a pretty big deal.
1:13.2	Anyway, net sales were up 27% year over year.
1:16.3	AWS net sales were up 37% year over year.
1:19.3	And Amazon had net income of 7.8 billion dollars. Also once again Amazon reported Q2
1:25.8	revenue from its other category which mostly covers its ad business of 7.9
1:31.0	billion dollars up 83% year over year and subscription service revenue of 7.9
1:36.6	billion dollars up 28% year over year.
1:39.2	As Deere Obasanjo tweeted, revenue from Amazon's ad business is now larger than Twitter, Snapchat. J more proof that search ads is the greatest business in the world."
1:54.7	Amazon also had to disclose that EU privacy regulators levied a record $888 million fine
2:01.5	on Amazon for violating GDPR data storage rules quoting
	...

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