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When Apple’s AirTag came out four years ago, one of the most obvious uses for it was for luggage. On my long trips to Asia, I always breathe a sign of relief when I glance at my phone and find that my checked suitcase has been loaded onto the aircraft. And I often wish I had one in my carry-on suitcase, especially when the overhead bins run out of space and the flight attendant checks my bag at the gate. July, a fast-growing Australian startup, has become the first luggage brand to incorporate AirTags directly into its suitcases. The technology was made in partnership with Apple and Google, so the tags are integrated with both Apples Find My and Googles Find Hub networks. On October 14, July unveils this new feature, which will eventually be incorporated into its full line of carry-ons and suitcases. Cofounder Athan Didaskalou believes trackers will soon become standard in all suitcases, but it is still important to him for July to be first to market with this technology. “We have a team of industrial designers on hand, and we like making things,” Didaskalou says. “The only way to stand out today is by continuing to innovate.” [Photo: July] The Ubiquitous Roller Suitcase Step into an airport today, and you’ll see virtually every traveler pushing wheeled luggage. Didaskalou points out that each element in the now-ubiquitous roller suitcase was the result of a breakthrough in design. In 1987, an airline pilot developed the concept of a wheeled suitcase with a telescoping handlea vast improvement over having to carry your suitcase like a briefcase. By the 1990s, most suitcase brands had shifted to this design. In recent decades there have been incremental improvements. After September 11, 2005, the Transportation Security Administration imposed a new regulation that all luggage locks had to have a keyhole that agents could access. Soon after, it became standard for all suitcases to have TSA locks. And a decade ago, brands began incorporating phone chargers into their suitcases so travelers could charge their phones on the go. (The TSA now forbids phone chargers in checked luggage, so chargers in suitcases must be removable.) [Photo: July] The global luggage market is enormous: It was $38.8 billion in 2023, according to Grand View Research, and its projected to grow to $61.49 billion by 2030. Given that most suitcases today have the same set of standard features, brands often end up competing with each other based on aesthetics. Samsonite dominates the industry, owning a fifth of the market with its many brands, which include American Tourister and Tumi. Samsonite generated $3.68 billion in 2023. But there are many other players. At the high end, there’s Rimowa, known for making durable suitcases with distinct grooves. Over the past decade, a wave of startups has popped up with sleeker and more colorful designs at an affordable price point of $200 to $300 for a carry-on. Direct-to-consumer startups like Away, Monos, Béis, and Floyd all create trendy cases that target the millennial and Gen Z traveler. But it’s a crowded, competitive market, and some brands have struggled. Paravel, for instance, tried to create an eco-friendly suitcase, but it filed for bankruptcy in May of this year, and was acquired by the British suitcase brand Antler. Another luggage brand, Baboon to the Moon, was struggling to grow its revenue and was acquired by turnaround firm the Hedgehog Co. in 2023. [Photo: July] Improving the Design of a Suitcase July was founded in Australia in 2019. Its sleek, colorful suitcases have become very popular in Australia and across the Asia Pacific region, which North American brands like Away and Monos have been slower to enter. Didaskalou wants July to stand out from competitors by rethinking the design of its suitcases in a more fundamental way. Over the past few years, the brand has been playing with the configuration of suitcases. It was among the first brands to launch the trunk format, where the suitcase doesn’t open in the middle, but rather toward the top. “Some people want depth when they’re packing,” he says. “It can be awkward to open your luggage in the middle and try to balance it on the luggage stand at your hotel.” When Apple and Google opened up the API for the AirTag, it occurred to Didaskalou that luggage tracking was the next frontier of suitcases. Many consumers were already putting AirTags in their suitcases, but it was not a seamless solution. “They might need to move the AirTag from one suitcase to another, or take it out to use it for something else,” he says. “Or they might forget to use it altogether. It’s just another thing to worry about when you’ve already got a lot on your mind.” [Photo: July] July’s designers spent months trying to figure out how to incorporate AirTags seamlessly into suitcases. They ended up putting them into the strip of plastic at the top of the suitcase, right next to the TSA lock. When you first get the suitcase, you pull on the plastic tab that separates the battery from the AirTag to activate it. Then you press a button on the strip to activate it, to see your luggage in your Apple Find My or Google Find Hub app on your smartphone. Didaskalou says that while the experience is simple for consumers, it was complex to design. It was important to make the underside of the AirTag accessible to change its battery. However, the AirTag is on the same strip as the TSA lock. “We needed to have access to the AirTag but not expose the TSA lock,” he says. “We also needed everything to be very tightly secured, because things bounce and move when you travel.” July has patented some aspects of this AirTag component, but Didaskalou believes many other luggage brands will soon realize that consumers now expect to be able to easily track their luggage. So they will soon begin incorporating AirTags or other trackers directly into their suitcases. But he believes they will only become widespread in the next year or so. And ultimately, Didaskalou believes that it’s the larger luggage makers that are more likely to update their suitcases first. In many ways, he’s looking to compete with Samsonite, an innovator with roughly 20% of the market share. “Samsonite has always been first to come up with new materials and manufacturing processes,” Didaskalou says. “We’re proud because this is the first time we’ve beat them.”
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E-Commerce
Shares in Americas Quantum Four quantum computing companies surged again yesterday. D-Wave, IonQ, Quantum Computing, and Rigetti all saw their stock prices jump by double-digit percentages. But why? The Quantum Fours big stock price gains had nothing to do with radical new quantum computing breakthroughs. Instead, investors can thank banking giant JPMorganChase for the gains. Heres what you need to know. Why did quantum computing shares surge yesterday? Yesterday, Americas four most prominent quantum computing companies saw their stock prices surge by double-digit percentages. But the genesis behind these soaring share prices wasn’t directly related to news about the companies. Instead, the upward movement in the Quantum Fours share prices was largely due to financial giant JPMorganChase. On Monday, the investment bank announced a Security and Resiliency Initiative to invest in industries critical to Americas national economic security interests. This initiative will see JPMorganChase invest $1.5 trillion in select industries over the next 10 years. And the first wave of this fundingto the tune of up to $10 billionhas already been decided upon. The banking giant announced it will invest the 11-figure sum via direct equity and venture capital investments in companies operating across four key areas, which include: Supply Chain and Advanced Manufacturing Defense and Aerospace Energy Independence and Resilience Frontier and Strategic Technologies For quantum computing investors, its that last areafrontier and strategic technologiesthat matters. Included in that grouping are companies in the AI, cybersecurity, and quantum computing space. It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products, and manufacturingall of which are essential for our national security, JPMorganChase CEO Jamie Dimon said in a press release announcing the initiative. He added, This new initiative includes efforts like ensuring reliable access to life-saving medicines and critical minerals, defending our nation, building energy systems to meet AI-driven demand, and advancing technologies like semiconductors and data centers. Our support of clients in these industries remains unwavering. However, it is worth noting that Dimon did not specify which quantum computing companies would receive investments from the bank. In an accompanying chart, the bank merely said that strengthening capabilities in quantum computing and other areas, including AI and cybersecurity, could directly translate into higher GDP and create military, intelligence, biotech, and cyber resilience benefits. Yet despite not name-dropping any of the Quantum Four, their stocks surged. Quantum stocks soared by double digits In the United States, there are four prominent publicly traded quantum computing companies: D-Wave, IonQ, Quantum Computing, and Rigetti. All four companies saw their stock soar yesterday after JPMorganChases announcement. D-Wave Quantum (NYSE: QBTS): up 23% to $40.62 IonQ (NYSE: IONQ): up 16% to $82.09 Quantum Computing (Nasdaq: QUBT): up 12% to $21.46 Rigetti Computing (Nasdaq: RGTI): up 25% to $54.91 In addition to Americas Quantum Four, shares in the United Kingdoms Arqit Quantum (Nasdaq: ARQQ) also jumped 20% to close at $58.27. Despite Mondays price surges, all Quantum Four stocks and the U.K.s Arqit are currently down in premarket trading on Tuesday morning, as of the time of this writing. The drops arent large: QBTS is down less than 3%, IONQ and QUBT are down around 4%, RGTI is down just over 3%, and ARQQ is down just under 3%. These modest declines suggest that some investors are engaging in profit-taking after yesterday’s share price surge. Still, many quantum investors are likely buoyed by the notion that one of Americas biggest investment firms thinks quantum computing will be critical to national security in the years ahead. If that conjecture is correct, companies operating in those spaces have a lot to gain. Shares in the Quantum Four have had a great year While the real-world benefits of quantum computing, which uses the properties of quantum mechanics to solve computational problems that classical computers couldnt hope to, are likely still years away, the companies operating in the nascent space have seen tremendous returns over the past year. When it comes to the Quantum Four, all have had incredible returns both year-to-date (YTD) and over the past twelve months (12/m), as of yesterdays stock market close: D-Wave Quantum (NYSE: QBTS): up 383% YTD, up 4,087% (12/m) IonQ (NYSE: IONQ): up 96% YTD, up 670% (12/m) Quantum Computing (Nasdaq: QUBT): up 29% YTD, up 3,001% (12/m) Rigetti Computing (Nasdaq: RGTI): up 259% YTD, up 6,629% (12/m) These are gains that many investors are hoping will continue well into the future.
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E-Commerce
Headaches continued for U.S. travelers over the weekend as a combination of bad weather and impacts from the ongoing government shutdown ensnarled many would-be fliers. Flight delays and cancellations piled up over the three-day holiday period, with flight-tracking service FlightAware showing nearly 30,000 delays in, within, and out of U.S. airports from Sunday of last week through Monday. Here’s the latest on the situation at U.S. airports and what travelers need to know: How bad have flight delays been? Delays and cancellations at many airports have grown progressively worse since the U.S. government shut down on October 1. With no end in sight to the political impasse in Washington that brought us here, the shutdown will enter its third week tomorrow. FlightAware data shows there were 7,928 delays in, within, and out of U.S. airports yesterday, along with 592 cancellations. Saturday and Sunday were roughly the same, with 5,007 delays and 114 cancellations on Saturday and 7,981 delays and 271 cancellations on Sunday. window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}); Airlines for America, a trade group representing U.S. airlines, had warned before the weekend that shutdown-related shortages in air traffic controllers could create travel headaches at a number of airports, although the group insisted that flying remains safe, as CNN reported. Bad weather, including a nor’easter that made its way up the East Coast, contributed to the chaos, causing delays at Northeast airports including New York’s John F. Kennedy International Airport and Newark International Airport in New Jersey. Will delays continue this week? As of early Tuesday morning, FlightAware data showed significantly fewer delays and cancellations so far, but the numbers were significantly rising by the hour. As of 9 a.m. ET, the site reported 771 delays and 42 cancellations, up from roughly 499 and 26 an hour earlier. Only time will tell what the future has in store. Meanwhile, Republicans and Democrats on Capitol Hill remain deadlocked over key sticking points. Most crucially, Democrats want to extend Affordable Care Act (ACA) tax credits that are set to expire this year. According to estimates from KFF (formerly the Kaiser Family Foundation), the loss of the credits would lead to significantly higher healthcare premiums for millions of Americans. This story is developing…
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E-Commerce
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