November Tech Round-Up: Travel Set to Boom Again
Consumers are set to go on an almighty travel binge, which has already fed into the price of global travel stocks. This month we unpack the numbers, reveal the views of some leading travel sector commentators, and hear from travel sector CEOs about staring into the abyss - and surviving. As you might expect, technology will play a pivotal role in this recovery.
Enjoy, from all of us at North Ridge Partners…
Original Thinking From North Ridge Partners
There’s a lot of travel content in this month’s newsletter. In our minicast, founder Roger Sharp tells us how revenge spending is already fuelling the global travel recovery
From bust to boom, travel is set to surge. We review share price performance and listen to what some of the best minds in the business think happens next. We quote John O’Shea from Ord Minnett, including his take on the recent Skift Global Forum, and we provide access to Forsyth Barr’s Eagle Report, a unique look at where to invest for the recovery.
Not to be outdone, five travel sector CEOs tell us what it was like to manage through the most difficult market conditions any of them will ever likely see in their lifetimes. And we describe the strategies that set the survivors apart and positioned them to thrive in a recovery.
Finally, after 18 months of being cooped up it’s surely time to contemplate a long-overdue holiday somewhere else — anywhere else! Now relax, exhale, and take in our travel playlist.
Asia Tech News
Indonesian superapp maker GoTo attracts interest, and dollars, from Abu Dhabi
Homegrown (and growing) Vietnamese e-commerce startup Tiki is heading for a billion-dollar valuation and a US IPO
The winner is Sydney, as AirTrunk plans the biggest APAC data center outside China
Tencent under scrutiny again, as US national security committee wrestles with Sumo takeover
Walking the walk: Indian wealth management platform Groww grows valuation to $3bn
Markets Action
Revenge of the NerdWallet: IPO surges 91%
Rivian could now be worth up to $65bn — but Forbes contributor David Trainor is unimpressed
One person’s junk is another’s treasure. JP Morgan boss labels Bitcoin as “worthless” but that won’t stop the bank from facilitating investment by its clients
Not everyone is down on crypto. Elliptic raised $60mn from Wells Fargo Strategic Capital, Softbank, and others
Plenty of juice: Lime squeezes half a billion from investors as it gets ready for its IPO
An esport SPACtacular: Billion-dollar blitz as pioneer FazeClan plans to go public
Big Tech
OK, so what else can you do? Alphabet outperforms. Its stock is up 58% YTD
Microsoft just had its first-ever $20bn quarter
The winners (Google, Twitter) and losers (Facebook, Snap) from Apple’s privacy putsch
Singles Day, 2021 style: Alibaba reads the tealeaves and dials up the sustainability rhetoric
Profits down, but the Amazon juggernaut rolls on
Travel technology
Sizzling debut: Siteminder surges in early trading on its ASX debut
Fly me to the Moon: TripActions hits a stunning $7.5bn valuation
Crisis? What crisis? Airbnb posts its best-ever quarter
Travel won’t be the same in the future because the pandemic has sparked innovation
Time to wake up: Softbank bets on travel surge with Cloudbeds
Crazy brave, or just crazy? The Mach 5 passenger jet
Stuff We Found Interesting:
The new silicon-based revolution: A race is on to create the next generation of batteries
Space to grow: Building the world’s biggest out-of-this-world-factory
Great expectations: BNP Paribas breaks down COP 26
Distantly Emerging Tech — Metaverse Edition
It doesn’t exist, but is it about to change everything?
Facebook’s hate speech problem is hiding in plain site
MicroMeta: No sooner did Zuckerberg explain his metaverse than Microsoft flagged its own
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