Domain Daily: Hit the Accelerator

The Dose

  • Disney Backs Polygon

  • Amazon's Private Label Problem

  • Tesla Price Cut?

Disney Adds Polygon to Its Business Accelerator Program

Polygon is a blockchain platform that lets developers build scalable apps on Ethereum. Disney selected the platform for its Disney Accelerator program, which helps foster "the growth of innovative companies from around the world.”

The Point: Let's start with this. Many companies have accelerator programs. These initiatives invest in smaller companies that may benefit the investor's (in this case, Disney) business. For example, Disney added Polygon, the first blockchain platform ever selected for the Accelerator program, to further its push into augmented reality and NFTs. For an idea of just how exclusive Disney's program is, consider this: Polygon was one of just six invitees this year. As you'd expect, receiving Disney's approval led to a surge in Polygon's token price (MATIC) of more than 20%. Looking at the bigger picture, it's telling that a company like Disney is continuing to invest in the blockchain space despite current market conditions. Amid all the doom and gloom, Disney isn't dismissing the role blockchain technology may play in its future. 

Ethereum 2.0

Amazon Pulls Back on Private Label Products

According to the Wall Street Journal, the retailer is cutting back on its private label business. The newspaper also reported that Amazon might exit the private label business entirely.

The Point: An Amazon spokesperson refuted the claim saying, "we continue to invest in this area, just as our many retail competitors have done for decades and continue to do today." With that out of the way, let's consider why this is plausible. Amazon's private label business has created controversy with regulators and its customers. For example, the European Commission charged Amazon with using unfair business practices to push its products. At the same time, some merchants that use Amazon's platform contend the retail giant knocks off top-selling products. Given the controversies, it's not far-fetched to think Amazon might be considering giving up the business despite its denial.  

Check in-app Prices

Musk Says Tesla Can Cut Prices if Inflation "Calms Down"

The automaker's CEO said as much in response to a question raised on, where else, Twitter.  

The Point: Here's why it's worth taking this with a grain of salt. In May, Musk said that "demand is exceeding production to a ridiculous degree." He further added that the company would probably "stop taking orders for anything beyond a certain time period." So if Tesla can't keep up with demand while raising its prices, why would it voluntarily opt to make less for each car it sells? Perhaps as supply chain issues improve, Tesla will consider price cuts to keep pace with its competitors. Just don't count on that until its existing backlog of orders clears up.  

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*The content team responsible for the above content uses primary and secondary sources they believe to be accurate, which includes but is not limited to Bloomberg, The Wall Street Journal, Financial Times, and CNBC, among others. 

*Domain Money Advisors, LLC, an investment adviser registered with the U.S. Securities and Exchange Commission and an affiliate of Domain Money, has (as of this writing) the following assets mentioned in this communication as part of its managed portfolios: DIS, MATIC, AMZN, TSLA