Hey guys, Brian here. Be sure to listen to the end of the show today for a quick programming announcement about next week.

TLDL, too long didn't listen. Due to the holiday week in the U.S. we will only have two episodes next week, Tuesday and Friday.

More info at the end of the show.

Welcome to the Tech Mem Ride Home for Friday, June 29th, 2018. I'm Brian McCullough.

Today, Jowme's IPO disappoints.

Apple is rebuilding maps from the ground up, the state of the ICO market, the weekend

long read suggestions, and the NES is back, baby.

Here's what you miss today in the world of tech. Chinese phone

maker Show Me will raise $4.7 billion after pricing its Hong Kong IPO at the low end of its target range,

valuing the company at about $54 billion or roughly half of the company's original goal.

Jowme had hoped to raise up to $6.1 billion and earlier this year there was talk that the company could achieve a

100 billion dollar valuation.

Jomi's shares will begin trading in Hong Kong on July 9th.

Why will this IPO be a swing and a miss? Well Chinese stocks have had a rough

go of it recently due to the escalating trade war with the US and it's been an especially tumultuous time for Chinese tech stocks.

Also, there was some muddiness in the company's messaging.

Shami insists that it is primarily an internet company, but most analysts and investors seem

to view it as a hardware manufacturer.

Hardware companies get lower multiples generally.

James Yan, an analyst with counterpoint research in Beijing, told Bloomberg, quote,

Jomis' exceedingly thin margins from hardware significantly drags down its valuation for potential investors.

I expect it to invest more in the smartphone unit, especially on international expansion.

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