Facebook and Google are taking a shot at the banking world, WeWork’s troubles continue as reports surface that it lost $1.25 billion in the third quarter, and it’s time to party like it’s the mid-2000s because the Motorola RAZR makes a comeback.
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A pair of tech giants are kicking the banking world’s door down. Facebook is launching a new online payment system spanning Messenger, Instagram, and WhatsApp, while Google says it’s planning on offering checking accounts to customers. Facebook Pay allows users to send payments, starting with Facebook and Messenger, in a swipe at Venmo. According to the Wall Street Journal, Google is expected to partner with Citigroup and a credit union at Stanford University to offer digital accounts. This might not sound that special, as many people on social media have pointed out, but of course, the real value in this strategy is the user data that Google will be able to extract.
WeWork’s troubles continue. Social media is buzzing about the rapid expansion of its office-space empire and how it caused the company’s losses to more than double in the third quarter, reaching $1.25B, according to the New York Times. The office space company, which reported the figure to debt holders Wednesday, was investing heavily in expanding to new locations around the world, even adding 115,000 desks as it entered what it called “hyper-growth” mode, says Business Insider. WeWork withdrew plans to go public in late September amid concerns about its finances.
And lastly, the Motorola RAZR flip phone is making a comeback. Twitter was on fire when it was discovered that the flip phone was blending the past and the future, incorporating a flexible screen with a portable design. When opened up to its full length, movies and videos look extra sharp on its ultra-wide CinemaVision display. But before you run out the door to buy one, keep in mind it costs almost two grand Canadian.
That’s all the tech news that’s trending right now. Hashtag Trending is a part of the ITWC Podcast network. Add us to your Alexa Flash Briefing or your Google Home daily briefing. I’m Alex Coop, thanks for listening.