Peter Thiel's Founders Fund Bets Big on Bitcoin
Founders Fund, the venture-capital firm co-founded by Peter Thiel, has amassed hundreds of millions of dollars of the volatile cryptocurrency, people familiar with the matter said, according to the Wall Street Journal.
The bet has been spread across several of the firm's most recent funds, the people said, including one that began investing in mid-2017 and made bitcoin one of its first investments.
Founders and Thiel are well-known for early investments in companies like Facebook (FB) that sometimes take years to come to fruition. The bitcoin bet is quickly showing promise. Founders bought around $15 million to $20 million in bitcoin, and it has told investors the firm's haul is now worth hundreds of millions of dollars after the digital currency's ripping rise in the past year, the Journal reported.
Honda, Alibaba Team Up in Connected Cars
Honda Motor Co. (HMC) will partner with Alibaba Group Holding (BABA) on developing services for connected cars as more automakers start working with Chinese internet conglomerates in hopes of making further inroads into the world's largest auto market, the Nikkei Asian Review reports.
The Japanese automaker will work with the Chinese e-retailing titan's AutoNavi business. They plan to develop a service that lets drivers make reservations using AutoNavi maps and make payments via Alibaba's online platform Alipay. Decisions will be made soon on when to make the service available on which vehicles, Nikkei said.
Alipay has over 500 million users and is a commonly used payment method in China. The planned service would also let drivers pay for parking and gas more conveniently.
Honda and AutoNavi have partnered since 2015 on multipurpose car-navigation systems that exploit big data.
Amazon's Best of Prime 2017 Reveals the Year's Biggest Trends -More than 5 Billion Items Shipped with Prime in 2017
In a statement released today, Amazon.com (AMZN) said, "More new paid members joined Prime worldwide than any previous year. Prime members around the world used Prime digital benefits this year more than ever before."
"Best of Prime 2017 in the U.S. includes Fire TV Stick and Echo Dot, Prime Video: The Grand Tour, Prime Music: "Believer" by Imagine Dragons and Prime Reading: The Handmaid's Tale."
December 30 was "Prime's largest day for streaming around the world, with Prime Originals - The Grand Tour 2 and The Marvelous Mrs. Maisel - its top two shows."
"Prime members now enjoy unlimited Free Two-Day Shipping on more than 100 million items in the U.S.," Amazon concluded.
U.S. futures were rising premarket Tuesday indicating a strong opening for markets and a new record high for the Dow Jones Industrial Average.
Dow futures climbed 0.24% while S&P 500 and Nasdaq futures rose 0.28% and 0.32%, respectively.
Major indices around the world were struggling with the major Asian and European markets falling except for the Hang Seng which was up about 2.0%.
Shares of Netflix (NFLX) were higher over 1.50% after Macquarie Research increased the internet TV network's rating to "Outperform" from "Neutral", pointing to the success of the company's original content strategy.