Apple has Acquired over 100 companies in the past six years as the House passes $1.9 Trillion Stimulus Package
Apple has bought over 100 companies in the past 6 years. The House passes Biden’s $1.9 trillion stimulus package. Moderna expects to make $19 billion from vaccine sales. Climate change has caused the Atlantic ocean’s circulation to slow down. Twitter announces new features. Here are this week’s top stories.
1. Apple Acquires a Company every 3 Weeks
Apple CEO Tim Cook has recently revealed that Apple has acquired around 100 companies in the past six years. The acquisitions are mostly aimed at obtaining new technology and talent. The largest acquisition was Beats Electronics, a headphone maker founded by the rapper Dr. Dre. Beats was purchased for $3 billion in 2014. The company at the time was known for its bass-heavy headphones and the music streaming service Beats Music. Apple used their technology and made Airpods and Apple Music. Apple also acquired Shazam in 2018 for $400 million. Shazam is a music recognition app and it can recognize almost any audio. Apple has integrated these features in their voice assistant and Apple Music. Most of Apple’s acquisitions have been very small for certain ideas or features for a product. To develop Face ID, Apple purchased PrimeSense, an Israeli 3D sensing company. It gave them all the research and development conducted about 3D sensing and they were able to develop the best facial recognition on a device. Other tech giants like Amazon and Facebook have made giant acquisitions to grow their revenue but Apple tries to make its devices better. This is a very interesting strategy, and it has helped Apple make good devices with refined features.
2. House Passes $1.9 Trillion Stimulus
The US House of Representatives passed Biden’s $1.9 trillion stimulus package. The bill will now head to the Senate for a vote. The third stimulus, called the American Rescue Plan Act of 2021, would deliver $1,400 to most Americans as soon as next month. It will also extend the $400 weakly unemployment benefits until September. The money will provide many families with a tax break, funding for small businesses and schools, and boost Coronavirus testing and contact tracing. Some of the money will be used for vaccine distribution across the country. Vaccine distribution has improved significantly and an average of 1.74 million vaccines are administered every day in the US. However, almost 3 million Americans have not gotten their second dose on time. The bill also plans on gradually increasing the federal minimum wage to $15 by 2025. The increase in minimum wage faces strong opposition but it is a very important issue. The $7.25 federal minimum wage is just too low and it’s not a living wage. It has stayed at $7.25 for over 12 years while everything else has gotten more expensive.
3. Moderna to make $18.4 billion from Vaccine Sales
Moderna is expecting to generate over $18.4 billion in sales from its Coronavirus vaccine. It is the second vaccine approved by the FDA and is popular because it does not need to be kept in ultracold temperatures. Pfizer estimates to sell about $15 billion in vaccine doses this year. Moderna will produce at least 700 million vaccines this year and 1.4 billion in 2022. Moderna has a deal with the US federal government to deliver 300 million vaccines by August. They have currently delivered 55 million vaccines. Pfizer says it can potentially deliver 2 billion doses globally by the end of 2021. They plan to deliver 200 million doses to the US by May. The company said it was ready to fight these new emerging variants. The normal vaccine is only about 50% effective against these more contagious variants of the virus. They are working on booster shots which are additional doses that boost immunity against the UK and South Africa variants. Moderna and Novavax are also developing modified vaccines.
4. Atlantic Ocean Circulation is the Weakest in more than 1,600 years
The current system in the Atlantic Ocean is gradually moving slower. According to a new study published in the journal Nature Geoscience, the current system in the Atlantic ocean is now moving more slowly than it has in at least 1,600 years. Climate change is causing ice on the poles to melt and this disrupts the currents. Circulation has slowed down by 15% in the past 70 years. This system brings milder weather to Europe and further weakening of the circulation could result in harsher winters and an increase in heatwaves across Europe. By the end of the century, circulation will reduce by 40% and it would cause sea levels to rise on the East Coast of the US. There are too many negative effects of climate change and we need to fix this growing problem.
5. Twitter Announces New Features
Twitter has recently announced a new feature called “Super Follows,” which will let users charge their followers for exclusive material not shown to their regular followers. The content can include newsletters, deals, videos, and pictures. This is a long-awaited feature Twitter users and investors have been asking for. It will help people make money from their popularity and Twitter will likely take a small cut. Another feature coming out is Revue, which will let users post paid newsletters for their followers. Twitter is also testing Twitter Spaces, which will let users participate in group audio chats. These features will make Twitter more interactive and popular. They will also have another strong source of revenue after these features launch in the future. Twitter has set a revenue goal of $7.5 billion in 2023, more than double its 2020 revenue of $3.7 billion.
Above were my top stories for the week of February 28, 2021. I hope you liked it. Thank you and see you next week!