The Big Apple as a Tech Hub: BetaWorks to Open Collaboration Space for Techies
BetaWorks, a start-up platform responsible for internet companies such as Giphy, is introducing a brand new business. BetaWorks Studios, a membership club for builders, is offering entrepreneurs and creatives the space to work on their projects. John Borthwick, CEO of BetaWorks, and Daphne Kwon, BetaWorks Studios COO and President, joined us to break down the companies new venture.
John explained that entrepreneurs, as well as creatives and freelancers, will be able to collaborate in the new Studios tech hub. They aren't the only game in town, however. SoHo House, a competitor, operates down the block and offers an annual membership with access to 18 locations. Borthwick said their incubator will be better because of the deep expertise within the BetaWorks network, which has helped bring internet companies such as Giphy to life.
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
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