? Labor Shortage is One of The Biggest Concerns For Tech Companies

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Labor Shortage is One of The Biggest Concerns For Tech Companies

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Among several issues faced by tech company executives, the shortage of labor is one of the biggest concerns.

This is one of the findings from a survey conducted by the CNBC Technology Executive Council between October 1 and October 15.

It is a quarterly survey studying the issues and concerns faced by technology executives at some of the nation’s leading companies.

Though cyberattacks and supply chain disruption remain high on the list of concerns of chief technology officers, chief information officers, among other executives, the ability to find adequate skilled laborers outranks both these issues.

According to the survey, 57% of the tech executives said finding qualified workers is the biggest concern for their company right now.

Further findings revealed that 26% of respondents are worried about the supply chain, and less than 20% have fear about cybersecurity.

In contrast to the start of the year, nearly half of the survey respondents said that it’s harder to find qualified workers right now.

Moreover, nearly one-third of the IT executives said the search has gotten “significantly harder.”

Microsoft Overtakes Apple as The World’s Most Valuable Company

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Apple has lost the top position as the world’s most valuable public company to Microsoft on October 29, as Apple’s shares fell about 2%.

During the fiscal fourth quarter, Apple Inc took a $6 billion hit on its sales mainly due to constant global supply chain problems, leading to a miss on the investor’s expectations.

CEO Tim Cook has also said that the impact will further worsen in the current holiday sales quarter.

At the close of the market on October 29, the market cap of Microsoft was almost $2.49 trillion, as compared to Apple’s $2.46 trillion market cap.

However, the Windows OS maker had surpassed Apple’s valuation in 2018, for the first time since 2010, and once again in July 2020.

Apple has been a marker leader for some time, as it is the first U.S. firm to hit a market cap of $1 trillion in 2018, and in 2020, it became the first U.S. firm to hit a market cap of $2 trillion.

Hence, Apple is not out of the race yet as it may take back the crown of the world’s most valuable company anytime.

Twitter Expands the Scope of its ‘Super Follow’ Feature to iOS app Users

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Microblogging site Twitter has started rolling out the Super Follow feature to all iOS app users.

The feature, first launched in September, was only available in the U.S. and Canada, allowed users to monetize their Twitter accounts and create exclusive content through monthly subscriptions.

The company first announced the Super Follows feature in February. Later in September, it was rolled out to a select few creators.

A user interested in the Super Follows feature has to meet some prerequisites. They should be 18 years or older, have at least 10,000 followers, must have tweeted at least 25 times in the past 30 days.

Once the application gets accepted, they have to tweet a minimum of 25 tweets every 30 days.

With this feature, a user is eligible to earn up to 97 percent of the revenue from their Super Follows subscription after in-app purchase fees, with Twitter charging a 3 percent cut.

But, if users earn $50,000, they can earn up to 80% of the revenue after in-app purchase fees, as the company increases its share up to 20% on earnings.

Amazon Says it Has 20% Stake in Electric Vehicle Maker Rivian

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Amazon announced on October 29, that it owns a 20% stake in Rivian, the electric vehicle maker that applied for an IPO earlier this month.

As of September 30, Amazon held equity investments and Rivian’s preferred stock, which account for approximately 20% ownership, according to Filing.

The e-commerce giant’s holding had a book value of $3.8 billion, up from $2.7 billion as of December 31, 2020.

The company has invested over $1.3 billion in Rivian to date.

The electric vehicle maker filed for its IPO prospectus on October 1 and said that it plans to list on the Nasdaq under the “RIVN” ticker symbol. Rivian is expected to hold its IPO in November.

Amazon isn’t just an investor in Rivian, but it is also a customer of the electric vehicle maker.

Back in September 2019, Rivian signed a contract with Amazon to manufacture 100,000 electric delivery vans by 2030, of which Amazon will get 10,000 electric delivery vans from Rivian next year.

Around The Web

? AMC Theatres Are Considering Accepting Shiba Inu as Payment: AMC Entertainment is in the process of reviving its technical abilities by allowing customers to pay online with cryptocurrencies for buying movie tickets. In a Twitter post, the CEO of AMC theatres, Adam Aron, recently put up a poll on Twitter asking users if they would be potentially interested in paying with Shiba Inu as well.

? Microsoft Acquires AI-Powered Moderation Company Two Hat: Microsoft Inc. has acquired Two Hat, a platform best known for AI content moderation tools. The financial details of the deal were not disclosed.


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