Facebook has already begun digging into the TV space with Facebook Watch, so what might the social media company’s next move in video be?
Jesse Redniss, Chief Innovation Officer of Turner’s TBS and TNT networks, predicts the company might buy Roku.
“Facebook has been trying to be getting into the video space for quite sometime now,” he told Cheddar in a recent interview. “When you look at Facebook’s track record of growth, the acquisition of Insta, WhatsApp, Oculus. In some ways, in order for them to really scale into a marketplace, it’ll make a lot of sense for them to buy one of the leaders in a marketplace they want to get into.”
Roku shares fell steeply Friday after Goldman Sachs downgraded the stock, saying the streaming company is overvalued. Still, the company is trading well above its IPO price, and posted a 48 percent increase in active accounts in the third quarter, as well as a 58 percent increase in streaming hours.
For full interview [click here](https://cheddar.com/videos/a-bold-prediction-on-why-facebook-would-acquire-roku).
Cigarette giant Altria said it would spend $1.8 billion for a 45 percent stake in Cronos, the Canadian cannabis producer, signaling a massive bet that the legalization of marijuana will spread as cigarette smoking declines. The announcement follows reports that Altria is also talking to Juul about a stake in the wildly-popular vape brand, which would be another hedge against Altria's core tobacco business, which includes brands like Marlboro and Skoal.
PayPal employees are giving its peers a course in crypto token economics. The company has launched an internal blockchain-based incentive platform for employees, Cheddar has learned. The initiative was built over a period of six months by about 25 people in PayPal's San Jose-based innovation lab and launched in mid-November, according to Michael Todasco, the director of innovation.
New York is now the first city in the country to set a minimum pay rate for drivers working for ride-hailing apps like Uber and Lyft, following a vote on Tuesday by the NYC Taxi and Limousine Commission. Under the new policy, those drivers will make $17.22 per hour. But Aziz Bah, steward of the Independent Drivers Guild, told Cheddar Wednesday it's only the beginning.
Lyft filed for its initial public offering in a confidential registration statement with the Securities and Exchange Commission, it announced in a press release Thursday morning.
The markets rebounded from session lows after news broke the Federal Reserve is considering a new approach to interest rates that could translate to fewer rate hikes in the coming year. The Wall Street Journal reported on Thursday the Fed is considering a "wait-and-see" mentality for monetary policy, after the anticipated December hike that is by and large already priced into the markets.
StoreMe wants to solve travelers' "schlepping problem." The on-demand app allows travelers to search a location, input the number of bags they have, and make a reservation. That way, as travelers are passing through cities, they can enjoy the sights sans luggage. "This service is convenient, on-demand, and it's totally affordable," Peter Korbel told Cheddar Wednesday.
Care to watch the original "Star Wars" trilogy? Don't assume Disney's forthcoming streaming service Disney+ will have it. And while AT&T owns "Friends," it won't be streaming it exclusively on its own OTT platform when it launches in 2019 ー viewers will still be able to binge the series on Netflix. "Star Wars" and "Friends" are just a couple of the confusing licensing arrangements viewers should expect as more media companies push to debut their own streaming services to rival Netflix and Hulu.
In the virtual-reality world, "Mission Impossible" is possible after all. VR start-up Nomadic has partnered with VRWERX and Paramount to create a "tactile" experience for the "Mission Impossible" movie franchise that will allow users to interact physically with the virtual world of the movie.
After Tumblr announced it would pull so-called "adult content" from its platform, a larger-than-expected group of users erupted in protest. According to Shannon Liao, a tech and culture reporter at The Verge, many flocked to the platform "to browse sex-positive blogs and also different kinds of curated porn," in a "safe place."
Reports indicate that widespread 5G may arrive in 2019, and providers are scurrying to meet that unofficial deadline in the wake of Verizon's recent announcement that it will partner with Samsung to release a 5G phone by June.
