Our new Live Interview Series, Venturing In VC, premieres next week on Jan. 4, 2022. Venturing in VC is a live interview series where our host, Landon Campbell, interviews investors about how they broke into VC, their daily routines, views on the future, and lessons learned along the way. Who’s our first guest? None other than Turner Novak, Founder of Banana Capital — a founder-focused fund that invests anywhere from Pre-Seed to Pre-IPO with an average initial check size of $150,000-$300,000. Save your free seat to learn how Turner views the world and shares lessons he’s learned along his journey. Inside.com/vivc Venturing in VC is sponsored by SeedInvest — Fundraising isn’t easy, but it just got easier. Apply to start your raise on SeedInvest, or browse highly vetted startups to invest in. | |  Karan | |
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 Click-and-collect sales 25.4% of all click-and-collect orders in 2021 were for Walmart’s curbside or in-store pickups. The orders have generated an estimated $20.4B in sales for the retail store. More: - All click-and-collect orders in the U.S. are on track to generate sales of $101B in 2022 and $120.15B in 2023.
- 2022 sales estimates are 21% higher than 2021, while 2023’s estimates are 20% above 2022.
- Customers opted for click-and-collect options due to its limited person-to-person interaction method, which was a safe way of shopping for necessities during the pandemic.
- The method has also been an advantage for retail outlets, providing them with financial benefits, reducing costs incurred with in-home delivery of goods.
- Despite the popularity of this method, doorstep delivery of goods remained the most popular option while shopping for goods.
- Walmart has benefitted with improved profit margins and profitability since providing this option to its customers, as their 4,700 stores across the U.S. aided them in enabling this option to more customers as compared with Amazon’s 500 Whole Foods outlets.
- Walmart’s click-and-collect sales have grown three times over the last two years, rising to $20.4B in 2021.
- Behind Walmart, Home Depot had the second-largest click-and-collect market in 2021, culminating in over 13.3% of total sales.
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 TESLA Tesla is recalling nearly 500,000 of its Model 3 and Model S vehicles over two defects affecting safety. Tesla EVs are faced with rearview camera and trunk malfunctions that could potentially lead to crashes. More: - The two separate recalls cover 356,309 Model 3 sedans manufactured between 2017 and 2020 and 119,009 Model S sedans with model years between 2014 and 2021.
- Tesla’s Model 3 loose trunk wire could potentially stop displaying rearview camera images on the dashboard.
- Some Model S models may have misaligned latches, which could cause them to open unexpectedly.
- NHTSA was informed about the two issues by Tesla on Dec. 21.
- Tesla’s Autopilot was also investigated in August for discrepancies in its autonomous driving features, following 11 instances of vehicle crashes into fire trucks or police cruisers stopped on highways, with one fatality.
- NHTSA is also investigating eight other crashes that resulted in 10 deaths since 2016, during which Autopilot was engaged.
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A New York state court jury held Teva Pharmaceutical Industries Ltd. responsible for fueling the opioid epidemic in the state. The jury deliberated over eight days before reaching the verdict in the trial that began nearly six months ago. More: - Teva is facing thousands of opioid-related lawsuits across the U.S.
- The trial was argued by the state of New York and Nassau and Suffolk counties, accusing the entire opioid medication supply chain of engaging in misleading marketing practices.
- The case began with over two dozen defendants, most of which made multi-million dollar settlements, ultimately leaving Israel-based Teva Pharmaceuticals along with its associates and distributor Anda as the focus of the case.
- In August, Johnson & Johnson agreed to a $230M settlement.
- Three major drug distributors, Cardinal Health, McKesson Corp, and AmerisourceBergen, settled in July for $1B combined, as part of a larger $26B agreement.
- Allergan settled for $200M just before closing arguments commenced.
- Teva’s lawyers filed a motion for mistrial on Dec. 13, which was not granted.
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 Las Vegas Casinos in Nevada reported over $1B in house winnings for the ninth straight month, setting a new consecutive streak record. Las Vegas casinos reported $1.32B in winnings in November, just $0.04B shy of the $1.36B revenue record set in July. November’s earnings were $0.10B higher than October’s $1.22B winnings. More: - The current streak has beaten the previous eight-month streak set between Oct. 2006 and May 2007.
- The latest winnings are indicative of a return of pre-pandemic tourist levels in Nevada.
- Harry Reid International Airport in Las Vegas reported handling 4 million visitors in November, down just 4.4% from the same time in 2019.
- Casino winnings have crossed 2019’s levels by 12%.
- Nevada reported $93.6M in tax revenue in November.
- Sports betting in Nevada, buoyed by mobile app-based wagering, reached new levels, reporting $72M on sports wagers totaling $1.1B.
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 SenseTime SenseTime, the Chinese AI company, raised $740M from its IPO in Hong Kong, selling 1.5 billion shares priced at $0.49 (HK $3.85) each. The IPO debut raised the AI company’s valuation to $16.4B. More: - SenseTime, which was the fifth most traded stock of the day, ended the day at a price of $0.53 (HK $4.13) per share, 7.3% higher than its IPO offering price.
- The Chinese startup’s public offering was the fifth largest seen by the Hong Kong share market in 2021, as 329.97 million shares worth ~$180M (HK $1.406B) were traded until the end of the trading day.
- U.S. investors could not participate in the listing because SenseTime was blacklisted for its alleged involvement in monitoring Uyghur minorities in Xinjiang.
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 HSBC HSBC received regulatory approval from Chinese authorities to take over the remaining 50% stake in its life insurance joint venture, effectively granting the bank full ownership. Taking full ownership of HSBC Life China is instrumental for HSBC’s non-core banking services expansion strategy. More: - The JV was established in partnership with National Trust Ltd in 2009.
- HSBC Life China, headquartered in Shanghai, has since expanded to 10 cities in China.
- The London-headquartered bank had agreed to take full control of the JV in May 2020, as China allowed foreign companies to take complete ownership of JVs in the insurance sector.
- HSBC will continue its push to become Asia’s top wealth manager by 2025, under the leadership of CEO Noel Quinn, as the bank has lined up $3.5B for investments.
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Quick Hits *This is sponsored content
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Upcoming Events: - January 04 - Venturing in VC Episode #1 - featuring Turner Novak (Register Here)
- January 05 - DAOs and the intersection of tech & media with Kinjal Shah (Blockchain Capital) (Register Here)
- January 06 - Augmented and Virtual Reality with Timoni West (VP of AR/VR at Unity) (Register Here)
- January 11 - The Business of Interactive Gambling with Jon Kaplowitz (Penn) (Register Here)
- January 11 - Venturing in VC Episode #2 (Register Here)
- January 13 - Education within the Metaverse with Steve Grubbs (VictoryXR) (Register Here)
- January 25 - Need To Know NoCoder - Leon Young (Cogniss) (Register Here)
- January 27 - Understanding the Metaverse (Register Here)
- February 03 - Blockchain Gaming & Play-to-Earn Economies (Register Here)
- February 10 - The Business of Wellness (Register Here)
- February 17 - Customer Acquisition in a post iOS 14 world (Register Here)
- February 23 - Need to Know NoCoder: Derya Sousa (Kianda Technologies) (Register Here)
- February 24 - Alternative Investments (Register Here)
- March 03 - The $12B Appetite for Amazon Aggregators (Register Here)
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 |  | Karan Chafekar is a Management Consultant, Business enthusiast, Formula 1 lover, and a Licensed Pilot. He is also a part-time automobile and aviation fanatic, and a full-time introvert. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
Enter now for a chance to win your share of $100,000 in Bitcoin with “Easy Buckets” from Coin Cloud. | |
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