Wednesday, July 1, 2020

Daily Crunch - Tesla becomes the most valuable automaker in the world

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Wednesday, July 01, 2020 By Anthony Ha

Tesla hits a financial milestone, Discord is now valued at $3.5 billion and we unpack the 👁👄👁 phenomenon.

Here’s your Daily Crunch for July 1, 2020.

Tesla blows past Toyota to become most valuable automaker in the world

In 10 years, Tesla has gone from public market newbie to the most valuable automaker in the world. The electric automaker had long since passed the valuations of Ford and GM — and in January, it became the most valuable U.S. automaker ever when its market capitalization hit $81.39 billion.

Still, a few automakers remained ahead of Tesla globally, until today. Tesla shares popped this morning, and the company's market cap now stands at nearly $208 billion, surpassing Toyota.

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Tesla blows past Toyota to become most valuable automaker in the world image

Image Credits: Mason Trinca for The Washington Post / Getty Images

Watch today: Startups compete in Visa innovation live stream

Sponsored by Visa Everywhere Initiative

TODAY, at 2 pm PDT, 5 startup finalists go head-to-head in Visa's open innovation competition to solve future problems faced by the payments and commerce industry. Tune in to see which finalist will walk away with the grand prize.

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Discord now has a $3.5B valuation and $100M for a sales pitch lighter on the gaming

"It turns out that, for a lot of you, it wasn't just about video games anymore," wrote co-founders Jason Citron and Stanislav Vishnevskiy in a blog post. Discord, they said, is "a place to have genuine conversations and spend quality time with people, whether catching up, learning something or sharing ideas."

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What 👁👄👁.fm means for Silicon Valley

In 36 hours, a diverse group of young entrepreneurs and technologists used a mysterious meme to raise more than $200,000 for three charities supporting people of color and the LGBTQ community: The Okra Project, The Innocence Project and The Loveland Foundation.

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What 👁👄👁.fm means for Silicon Valley image

Image Credits: Tim Robberts / Getty Images

Facebook bans 'violent network' of far-right boogaloo accounts

Facebook took action to remove a network of accounts Tuesday related to the "boogaloo" movement, a firearm-obsessed anti-government ideology that focuses on preparing for and potentially inciting a U.S. civil war.

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Dear Sophie: Is immigration happening? Who can I hire?

Lawyer Sophie Alcorn lays out the current immigration landscape for a Bay Area recruiter. (Extra Crunch membership required.)

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Dear Sophie: Is immigration happening? Who can I hire? image

Image Credits: Sophie Alcorn

YouTube TV hikes price to $64.99 per month following new channel additions

The bump in pricing is now one of several price increases YouTube TV has seen since its debut, due to the rising costs of programming for the streaming TV service — with the cord cutting trend now accelerating due to the pandemic.

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NASA pays out $51 million to small businesses with big ideas

NASA has announced its latest batch of small business grants, providing more than 300 businesses a total of $51 million in crucial early-stage funding. These "phase I" projects receive up to $125,000 to help bring new technologies to market.

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