Amazon Partners With Grubhub
A New Ethereum Miner?
Glance, an ad-tech company backed by Google, will launch its lockscreen platform on Android phones in the U.S. by the end of the summer.
The Point: Glance wants to own your lockscreen. Before you even log in to your phone, Glance's platform displays content and news headlines. But, of course, it also serves up a healthy dose of advertisements. To get its software on new Android phones, Glance plans to team up with wireless carriers so it's already there before you turn your phone on for the first time. If there's a lesson here, it's this: where there's an ad-free spot in your digital life, there's a tech company out there looking to claim it as its own.
On Wednesday, Amazon announced that Prime members will now get a one-year subscription to Grubhub Plus.
The Point: As you'd expect, Prime is a big moneymaker for Amazon. The "subscription services" segment, which includes Prime and other offerings, generated $31.8 billion in sales for the company. That was about 7% of Amazon's total revenue for the year. So while the company doesn't break Prime out specifically, it's safe to assume it makes up the bulk of the segment's sales. That's all a long way of saying that expanding Prime's subscriber base is critical to Amazon's continued success. By adding a food delivery benefit, the retail giant is adding one more reason to pay the $139 annual fee for joining Prime. Amazon stands to win in another way. As part of the deal, Amazon also said it was taking a 2% stake in Grubhub's parent company. So if this partnership increases Grubhub Plus subscriptions, Amazon would also stand to gain from that.
Bitmain's new Ethereum miner, its first since 2018, is hitting the market at a curious time.
The Point: Here's why this is odd: the Ethereum network is transitioning from proof-of-work to proof-of-stake (an event commonly referred to as "the Merge"). If that happens, and that's a big if, given the event has been repeatedly delayed, mining Ethereum will no longer happen. So why is Bitmain trying to sell mining machines that could soon be unnecessary? One possibility is that they already built the machines and are now trying to unload them before the transition happens. On the other hand, this could be a sign that Bitmain is skeptical that the switch will happen anytime soon. If the Merge is further out than Ethereum developers would have us believe, that would undoubtedly affect the coin's price.
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