Recent items in the news include:
- TikTok owner Bytedance gets into fintech;
- Tencent teams up with automaker Geely for smart cars;
- WhatsApp is using its platform for fintech;
- Apple is getting into smart cars;
- Cruise, Microsoft and GM are partnering for smart cars.
When I see these news stories, there seems to be a convergence in Social media (content), communications (messaging), fintech (finance), mobility (transport and logistics) and e-commerce (trade and social commerce) sectors.
These sectors seem to be 5 major areas that firms are investing in and teaming up together to get market share. The businesses mentioned above have huge customer bases with which to offer more services. It seems to me that once firms get a large user base,they expand into one or more of these sectors.
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