In Episode 23 of my weekly update, I’m sharing stories and insight around Facebook’s financial play, self-driving tech for commercial vehicles, and Ikea digesting the idea of food delivery.
Visa, Mastercard and Vodafone are a small sampling of Facebook’s 27 initial partners in the development of their global cryptocurrency. Facebook’s end goal with this effort is to enable a more inclusive global financial ecosystem through their unit of currency called, “Libra”. The big difference here is that unlike a majority of cryptocurrencies, Libra is fully backed by a basket of currencies and assets that will be held in the Libra reserve. At a higher level, a key takeaway from the Libra announcement remains the reality of alternate financial systems beginning to take shape and their associated transformational opportunities across industries and daily life.
When it comes to self-driving vehicles, conversations usually focus on personal vehicles and robotaxis. However, consider that by 2040 delivery services will require travelling an additional 78 billion miles annually to handle goods ordered online (KPMG), with autonomous vehicle technology poised to play the most crucial role in filling this need. Besides the trucking industry, a new generation of vehicles will transform all aspects of commercial requirements, including forestry, construction, port cargo, and more.
Beyond the catchy headline, it’s important to consider how businesses are looking to create halo effects and execute vertical integration to evolve and stay competitive. In this case, we see how Ikea can leverage its food program and investments in technologies to take a bite out of the food delivery market that is estimated to reach $161 billion by 2023.
Track of the Week
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