ResearchThree Things (9/11)

Three Things (9/11)

Sep 11, 2023

“When you innovate, you’ve got to be prepared for everyone telling you you’re nuts.” – Larry Ellison, Co-Founder and CEO of Oracle


U.S. et al v. Google

The U.S. Justice Department is taking Google to court over alleged antitrust violations, marking its first major case against a tech giant in over 20 years. The suit, filed in 2020, focuses on Google's search engine dominance and claims the company used it to stifle competition.

The case reflects growing concerns about big tech stifling innovation. Google argues that users prefer its services and that it actually drives innovation. The trial's outcome could influence Google's foray into sectors like AI, with potential penalties ranging from hefty fines to a potential split-up. Regardless, the decision is sure to set a meaningful precedent. (Axios)

Instacart's debut

Instacart is gearing up for its IPO with an anticipated valuation of $8.6 billion to $9.3 billion, a steep drop from its previous $39 billion valuation in 2021. The new valuation reflects the market’s low appetite for risk on growth investing more broadly. The company, which dispatches couriers for grocery deliveries, has secured over $2 billion in venture funding over the years.  

Instacart’s public market debut will be eyed closely as a litmus test for an overall sleepy IPO market. Shares of SoftBank-owned chip designer Arm are also expected to start trading this week, potentially charting the course for fellow tech players entering the public arena. (WSJ)

Housing's short price reprieve

U.S. home prices rebounded in July after a five-month decline, defying earlier forecasts of a housing slowdown due to rising mortgage rates. The turnaround is primarily a result of a shortage of homes available for sale, as homeowners chose to remain in their current residences rather than enter a pricier market.

While the overall housing market is less frenetic than it was in 2021, bidding wars persist in areas with limited inventory. Despite a decrease in transaction volume, prices have largely held steady. For those looking to make a move, it may still be a tough time.


As of writing this newsletter, GOOG is a holding in Titan Flagship.

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