Community there has been a great deal of activity recently related to the regulation and the treatment of Digital Assets with crypto currencies. I would like to give some brief explanatory remarks about what we have been doing on this front since there is a lot of interest and then i will open up to questions. Last month a consortium of 28 businesses including a facebook subsidiary is developing a crypto currency for go the Treasury Department has expressed very serious concerns it could be used by many launderers and terrorist. Crypto currencies such as bitcoin has been exploited for illegal activity from cybercrime or tax evasion, extortion, ran somewhere, illicit drugs, Human Trafficking those that attempt to use crypto currency defined maligned behavior and this is a National Security issue. The United States has been at the forefront of regulating entities that provide crypto currency. We will not allow Digital Assets to operate in the shadows to tolerate the use of the crypto cur
First, to our top story. Slack makes its public debut the at a direct listing on the new york stock exchange, opening 48 above its reference price. Valuing the software messenger at more than 20 billion, a big increase from the last private valuation. They raised money at a 70. 1 billion valuation. I caught up with slack right before shares began trading. At this point it has been working exactly the way it is supposed to work and ultimately, we will open and have a high and low. The same thing will happen tomorrow and we are very much focused on the longterm. Emily you are still paying large fees to bankers. You raise a lot of money. So what problem are you really solving by doing a direct listing versus a traditional ipo . The first is there is no need to raise primary capital. We came into the process with 300 million on the balance sheet. Dilution to existing shareholders would have been tough. We did get a little more freedom with how we tell the story. Instead of only having a ro
Slack makes its public debut the at a direct listing on the new york stock exchange, opening 48 above its reference price. Valuing the software messenger at more than 20 billion, a big increase from the last private valuation. 70. 1raised money at a billion dollar valuation. Slack rightwith before shares began trading. At this point it has been working exactly the way it is supposed to work and ultimately, we will open and have a high and low. The same thing will happen tomorrow and we are very much focused on the longterm. You are still paying large fees to bankers. You raise a lot of money. So what problem are you really solving by doing a direct listing versus a traditional ipo . The first is there is no need to raise primary capital. We came into the process with 300 million on the balance sheet. Dilution to existing shareholders would have been tough. We did get a little more freedom with how we tell the story. Instead of only having a roadshow and private rooms with investors, we
Drive global trade. Problem. Ids, a the vast majority of children are not watching. The Smartphone Market taking a huge hit in the trade war. Apples iphone could be seen weaker than expected demand, especially in china, and huawei gave a doomsday estimate for smartphone sales. The company is ready for a drop of up to 60 in International Smartphone shipments. Founder expects to revenues by 30 billion to slash revenues by 30 billion over the next few years. International shipments that go outside of china account for about half of Huawei Smartphone sales, and that is a chunk. He talked about the revenue hit. They dont want to resort to mass layoffs, they dont want to sell off parts of the business, and they dont want to reduce research and Development Spending it people close to the spending. People close to the situation tell me they have been looking for that dropoff in smartphone sales. This is something weve been talking about, talking to partners, customers across europe, saying the
First, to our top story. Slack makes its public debut the at a direct listing on the new york stock exchange, opening 48 above its reference price. Valuing the software messenger at more than 20 billion, a big increase from the last private valuation. They raised money at a 70. 1 7. 1 billion valuation. I caught up with slack right before shares began trading. At this point it has been working exactly the way it is supposed to work and ultimately, we will open and have a high and low. The same thing will happen tomorrow and we are very much focused on the longterm. Emily you are still paying large fees to bankers. You raise a lot of money. So what problem are you really solving by doing a direct listing versus a traditional ipo . The first is there is no need to raise primary capital. We came into the process with 300 million on the balance sheet. Dilution to existing shareholders would have been tough. We did get a little more freedom with how we tell the story. Instead of only having